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Rate Cut Expectations Push Gold to New HighsGold prices have hit new highs after the Fed cut interest rates, weakening the dollar and reducing US Treasury yields. The gold market is awaiting more information from the Fed, especially Chairman Jerome Powell's speech and PCE price index data. Technical analysis shows that gold is at a key resistance level, supported by the 34-EMA and 89-EMA. Gold could continue to rise if monetary policies are further loosened. If the current resistance is broken, the next target is $2,700/ounce.
OANDA:XAUUSD
by Naoomi
ETHUSDT : Pricing momentum lasts"ETHUSDT is currently on a prolonged downtrend, confined within a descending price channel. My strategy continues to prioritize selling in the long term, although ETHUSDT may experience some upward corrections along the way. If the upper boundary of the price channel remains intact, it could be a good opportunity to consider selling this coin based on the targets and strategy outlined on the chart. What about you? Do you think ETHUSDT has the potential to break out of this channel and reverse its trend?
by Suyouu
EU: Bearish head and shoulders pattern forming!Hello all traders. Conan here! Today, the EU is on track to continue its correction, falling below 1.1000 as the Euro uptrend quickly evaporated earlier. Currently, the EU is hovering around 1.111 and has not been too volatile recently. Technically, there is a harmonic candlestick pattern that has formed, if the resistance zone is held by the Bears, it will accelerate into a strong downtrend to continue selling and heading for lower lows. The next important support zone will be the low seen on September 12, 2024, at 1.0550. Good luck trading to all of you.
Short
by ConanTradingFX
1
US500 Is Bullish! Buy! Here is our detailed technical review for US500. Time Frame: 1D Current Trend: Bullish Sentiment: Oversold (based on 7-period RSI) Forecast: Bullish The market is approaching a key horizontal level 5,730.5. Considering the today's price action, probabilities will be high to see a movement to 5,946.0. P.S The term oversold refers to a condition where an asset has traded lower in price and has the potential for a price bounce. Overbought refers to market scenarios where the instrument is traded considerably higher than its fair value. Overvaluation is caused by market sentiments when there is positive news. Like and subscribe and comment my ideas if you enjoy them!
CAPITALCOM:US500Long
by SignalProvider
1
SOLUSDT: Increase while the price is still decreasing?Currently, SOLUSDT is trading within a descending channel, with significant selling pressure keeping it in check. From the chart, we can clearly see the strong support zone (super support) between $120-$130, which has been a key level where SOLUSDT has bounced multiple times in the past. At this point, it’s likely that SOLUSDT may continue to correct and test this support zone again before making a stronger move upward. The resistance around $180 has yet to be broken, indicating that the longer-term downtrend remains intact. If SOLUSDT fails to break the descending channel, we could see further downside movement towards the support zone before a potential rally. Forecast: SOLUSDT is likely to experience a slight pullback towards the support zone before possibly gaining momentum for a bullish rebound. Market sentiment and macroeconomic news will continue to influence this trend, especially as the cryptocurrency market faces ongoing volatility. Stay alert for any developments that might shake up the charts!
by Suyouu
Gold is waiting for something to correct?Hello everyone, What do you think about gold prices? Currently, gold prices today continue to show strength as gold is trading around $2629. It is clear that the metal is still showing strength based on the breakout last week. The reason for the increase in the metal is that the looser-than-expected monetary policy of economists and the forecast of further cuts boosted the demand for gold, a hedge against risk. However, the US 10-year government bond yield increased, making the gold market more cautious. At that time, a clearer view of the direction of gold will become clear. Today we have some important milestones: XAUUSD sell zone 2650 - 2652 XAUUSD buy zone 2629 - 2627
OANDA:XAUUSDShort
by ConanTradingFX
Latest GBP Update Today: Price Continues to Rise StronglyConan, hello everyone! Currently, we are continuing to see a steady rise in GBP, having reached 1.3317 and the bullish momentum is expected to continue soon. On the price chart, an ascending trend line has formed along with the support of the 34 and 89 EMAs, indicating the potential for GBP to continue rising without any significant reversals. The immediate resistance to watch is at 1.3325, with the upper resistance of the price channel at 1.3400.
Long
by ConanTradingFX
1
Gold Trend Continues to Rise Amid Volatile MarketsAmidst volatility in global markets due to new monetary policies, gold prices continue to show strong bullish momentum. Currently, gold is trading at $2,627.36, surpassing both the 34-EMA and 89-EMA moving averages, indicating a solid uptrend. According to technical analysis using Bollinger Bands, gold prices have broken above the upper band, indicating that the market may be in the preparation phase for a new rally. The middle line of the Bollinger Bands, which is currently acting as a support level at around $2,605.98, could further consolidate the bullish momentum if prices continue to hold at this level or higher. Investors should keep a close eye on the next resistance levels, especially the $2,660 level, where selling pressure may emerge. A pullback could be an opportunity to buy, with the stop loss not further than the support at $2,560.96 to preserve profits in case the market reverses.
OANDA:XAUUSD
by Naoomi
Gold prices continue uptrend from $2600Conan, hello everyone! Today, gold prices continue to show strength, maintaining an UPtrend with an important resistance level at $2636, but have not been able to break it yet. Currently, gold is trading around $2629, up slightly by 0.03% on the day. In the coming time, this uptrend is likely to continue, supported by the Fed's decision to cut interest rates and geopolitical uncertainty. Technically, $2602 is forming as an important support in the uptrend channel. After consolidating here, we can expect gold prices to reach the first profit-taking target at $2690, corresponding to the Fibonacci level of 1.618. Stay tuned to capture these potential trading opportunities!
OANDA:XAUUSDLong
by ConanTradingFX
ETHUSDT : Price increase but not stable!Hello traders, let’s dive into the analysis of ETHUSDT together! For today’s review, I’m focusing on the 1D chart, where the price is currently hovering around the $2,656 level. Trend Overview: ETHUSDT is showing signs of recovery, with nearly a 3% increase today. While the short-term trend is bullish, it’s clear that the broader, long-term downtrend hasn’t fully played out yet. However, there’s reason to be optimistic. We could be on the verge of another upward movement as the pair gears up for the next correction, supported by the formation of two higher lows. I expect ETH to rise again, gaining momentum from the marked support level. Happy trading, and good luck!
by Suyouu
XAUUSDConan, hello everyone! Gold (XAU/USD) maintained its bullish momentum and traded at a fresh record high above $2,610 on Friday. Rising expectations that global central banks will follow the Fed in easing policy and cutting interest rates have boosted XAU/USD. However, a close look at the short-term chart shows that the yellow metal is struggling to capitalize on the immediate support at $2,618 to break above the resistance at $2,625 ahead of the weekend. Both the short-term and medium-term outlooks suggest that the bears are gradually gaining strength. The Relative Strength Index (RSI) is trending down in the bullish zone, indicating a potential momentum shift and a resumption of the correction. Current support is at $2618, if this level is broken the price will drop rapidly towards the targets to watch at $2610 and $2605.
OANDA:XAUUSDShort
by ConanTradingFX