Dollar rising area read the caption The US Dollar Index (DXY) is facing substantial buying pressure. A daily chart shows a third consecutive day with buyer highs and lows. This points to increasing buy pressure, while the DXY is bounce to hold ground above the very important technical levels in the form of the 200-day Simple Moving Average (SMA) at 103.47 and the 55-day SMA at 103.28.
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EUR/USD Awaits ECB Meeting Amidst Shifting Market DynamicsEUR/USD Awaits ECB Meeting Amidst Shifting Market Dynamics
The EUR/USD pair is registering modest gains, hovering near the 1.0900 area in the early European trading session on Monday. All eyes are on the European Central Bank's (ECB) upcoming January monetary policy meeting, scheduled for Thursday. As of the latest update, EUR/USD is trading at 1.0897, reflecting a 0.03% increase for the day.
Technical Analysis:
From a technical standpoint, the price experienced a rebound around the 1.08500 support area, coinciding with the 61.8% Fibonacci level and the Dynamic trendline. These factors contribute to the pair's attempt to gather new bullish momentum for a sustained upward movement.
Shifting Market Sentiment:
Market sentiment has witnessed a shift as doubts grow regarding the likelihood of a Federal Reserve (Fed) interest rate cut in March. Last week's positive US economic data, including Retail Sales and the Consumer Sentiment Index, have contributed to this change. According to the CME FedWatch Tool, the probability of a rate cut in March has decreased to 49.3%, down from 81% just a week ago.
ECB's Cautious Stance:
In contrast, the European Central Bank (ECB) Governing Council members are exercising caution against prematurely easing financial conditions. The January policy meeting on Thursday is not expected to bring any policy changes. Traders will be keenly watching ECB President Christine Lagarde's post-meeting speech for indications on potential rate cuts this year. Investors anticipate a gradual approach by the ECB, with interest rate cuts likely in the spring, driven by sustained progress towards the 2% inflation target.
Upcoming Events:
The ECB's monetary policy decision is scheduled for Thursday, and no policy changes are anticipated. Additionally, Thursday will see the release of the US preliminary Gross Domestic Product Annualized (Q4). On Friday, the Commerce Department will unveil the December reading on the Personal Consumption Expenditures Price Index (PCE), a key inflation gauge for the Fed.
Conclusion:
As the EUR/USD pair maintains a bullish stance, the spotlight is on the ECB meeting and evolving market dynamics. Technical indicators suggest a potential upside, but external factors, including the Fed's stance and US economic data, contribute to the complex currency landscape. Traders should stay attentive to central bank communications and economic releases for a comprehensive understanding of the pair's future movements.
Our preference
Long positions above 1.07700 with targets at 1.10170 & 1.1140 in extension.
USDCAD BUY | Day Trading AnalysisHello Traders, here is the full analysis.
Watch strong action at the current levels for BUY. GOOD LUCK! Great BUY opportunity USDCAD
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Trading strategy at the beginning of the week, entry sellGold prices reversed and decreased because investors continued to take profits, as the market was preparing to receive new economic information, as well as preparing for the US Federal Reserve (Fed) to enter its first monthly meeting. 2024.
Experts predict that the US economy is about to release its 2023 report, with good growth expected and stable employment. When economic growth is good, stocks increase positively. The USD also increased. Investors in the world market previously gathered gold, but they returned to take profits to buy stocks as soon as possible. Therefore, gold as a capital reserve will decrease in price deeply in the future.
On Tuesday, the dollar strengthened and put pressure on gold as US Federal Reserve (Fed) Governor Christopher Waller made "hawkish" comments about cutting interest rates this year. According to Mr. Waller, the US is still far from the 2% inflation target, so the central bank should not rush to cut interest rates until it is clear that lower inflation will be maintained. Previously, many Fed officials, including Cleveland Fed President Loretta Mester, told Bloomberg TV that it was too early to loosen monetary policy in March. Comments from Fed officials showed that The Fed believes that interest rate cuts will come much later, most likely at the end of the second quarter of this year.
The report released Wednesday showed that retail sales in December increased 0.6% from the previous month. This strengthens the Fed's determination not to cut interest rates prematurely. However, gold reversed course Thursday as market attention turned to concerns about escalating geopolitical tensions. Safe haven demand has reduced pressure on interest rate expectations and helped gold increase slightly.
USDCAD Best level for selling the market 1.3431USDCAD Best level for selling the market. Already broker with support level and start go down.
USDCAD SELL NOW AT 1.3431
TAKE PROFIT 01 : 1.3349
STOP LOSS 1.3510
Please follow a sensible and responsible money management strategy when trading.
You should never invest money that you cannot afford to lose. Risk 3% of capital
🔥 XAU/USD - a little Long , Then SHORT ! (READ THE CAPTION)By re-examining the gold chart in the 4-hour time frame, we can see that the price started to fall from the 2017.5$ range after the analysis I presented and corrected up to 2007$! After that, the price faced buying pressure again and is currently trading in the range of $2020, and the closest supply range to gold is $2023 to $2026! Other assumptions of the previous analysis are still valid!
Please support me with your likes and comments to motivate me to share more analysis with you and share your opinion about the possible trend of this chart with me !
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Gold suddenly reversed growth again, an opportunity to sell GOLDWorld gold prices reversed and increased sharply with spot gold increasing by 27.1 USD to 2,022.4 USD/ounce. Gold futures last traded at 2,025.1 USD/ounce, up 18.6 USD compared to yesterday morning.
Developments in the Middle East boosted safe-haven demand for gold on Thursday (US time), helping gold escape its previous five-week low under pressure from changes in interest expectations. productivity after economic report was stronger than expected.
According to senior market strategist Daniel Pavilonis of RJO Futures, amid much uncertainty, gold prices will be kept above $2,000/ounce. On January 17, the US Government returned the Houthis in Yemen to the list of terrorist groups as they continued to conduct attacks on commercial and military vessels.
In addition to the instability factor, speculation surrounding the timing of interest rate cuts by the US Federal Reserve (Fed) is also affecting the direction of gold. Currently, investors are still waiting for further information to learn more about the Fed's future interest rate direction. Currently, most opinions believe that interest rates will be cut if published data shows that inflation "cools down" significantly.
Atlanta Fed President Raphael Bostic said Thursday that he supports cutting interest rates sooner if there is "compelling" evidence that inflation is falling more sharply than expected. In a recent statement, he said that inflation could be "volatile" if policymakers cut interest rates too soon.
💡Gold: Rises in Asian Session on Technical CorrectionDuring the early Asian session, gold experienced an increase, signaling a probable technical upward correction following a 1.15% decline in the front-month Comex gold for January delivery on Wednesday. According to Daniel Ghali, senior commodity strategist at TD Securities, robust buying activity in China is bolstering gold prices. In a recent research report, Ghali highlights that the top ten traders on the Shanghai Futures Exchange have augmented their net long positions by nearly 10 tons since the New Year holidays. Currently, spot gold is showing a 0.1% rise, reaching $2,008.75 per ounce.
XAUUSD 100% CONFIRM ANALYSISDiscover an enticing Buying opportunity in GOLD as it undergoes a critical retest of a key support area. With market analysis, technical indicators, and price action as your allies, evaluate the potential downside move. Stay vigilant and informed to capitalize on this precious metal's market dynamics.
DE40 / TECHNICAL ANALYSIS / 4H
Hello friends,
On the 4-hour chart of the CAPITALCOM:DE40 pair, my first target is 16,346, and the second target is 16,143.
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EURUSD DAILY ANALYSIS // Jan 17, 2024In today's forex market analysis for EUR/USD, the dollar reached a one-month high against a basket of currencies, with the dollar index (DXY) hitting 103.58, its highest since December 13. This surge was fueled by soft Chinese data and global rate setters cautioning against immediate cuts. The Federal Reserve's Christopher Waller's comments on not rushing towards rate cuts until lower inflation is sustained contributed to the dollar's strength. Market expectations of a rate cut in March have eased to a 60% chance, and U.S. yields rose accordingly. Additionally, China's economic growth of 5.2% in 2023, slightly above the official target, raised concerns about a shaky recovery, impacting Asian and European shares. The euro remained flat at $1.10870 after a drop on Waller's remarks, as European Central Bank policymakers also resisted imminent rate cuts. The pound, however, climbed against the dollar, driven by higher British inflation data, reinforcing expectations that the Bank of England will be slower to cut rates than other central banks. This data is crucial for understanding the current market dynamics and making informed trading decisions.
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USDJPY SELL | Setup Trading AnalysisHello Traders, here is the full analysis.
Short after the BULL RUN. GOOD LUCK! Great SELL opportunity USDJPY
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Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 🤝
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EURUSD → A 4h timeframe perpectivehello guys...
let's review what happened in eurusd pair!
1- the price made a descending channel and engulfed the last high!
2- the price broke the top line of the channel!
3- the price did a correction until the 50% of the last leg!
4- the price touched the QML level!
Now what is going to happen?!
there are two trendlines in further and one important area (the orange area)
the price is going to touch the trendline then if the price breaks down the orange area the price will touch the lower levels as well- such as 1.07336 and 1.06163.
but if the price makes a reverse pattern in the trendline we can expect another upward wave in this pair!
encountering in the QML illustrates the next main move will be bearish, but let's see what the price gonna do with the orange area!
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EURUSDHello traders ,what do you think about EURUSD? This week, the spotlight is on the upcoming release of the Eurozone's Consumer Price Index data for December, scheduled for Wednesday, January 17. Market analysts anticipate an annual inflation increase to 2.9%, surpassing the previous figure of 2.4%. This uptick could lead the European Central Bank (ECB) to delay shifting towards a more lenient monetary policy. Should these projections hold true, the Euro is likely to gain further strength.In light of these developments, the EUR/USD currency pair shows potential for an upward trajectory towards a defined level. Currently, the price lingers below a key resistance zone and is close to a crucial trend line. It is poised for an upward movement following a correction that touches this trend line's boundary.
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Sell strategy, after retesting resistance will increase againGold prices rose at the start of the week, the metal's appeal fueled by safe-haven demand due to tensions in the Middle East, while markets bet the US Federal Reserve (Fed) will cut interest rates soon. than expected.
The war between Israel and Hamas has passed the 100-day mark as Israel continues its fierce offensive, while the Houthi militia's threat to respond to US airstrikes in Yemen raises risks.
Gold tends to perform well during times of economic uncertainty, with its reliability able to help offset the risks of more volatile assets in conditions such as geopolitical instability.
“Spot gold is also rising as the market clings to hopes that the Fed will cut key interest rates as early as March,” said Han Tan, chief market analyst at Exinity Group.
Gold's chances of reaching a new record high will remain open as long as the Fed can act in line with market expectations
Gold will have a decline and then increase againWorld gold prices increased slightly with spot gold increasing by 6.6 USD to 2,055.3 USD/ounce. Gold futures last traded at 2,059 USD/ounce, up 7.4 USD compared to yesterday morning.
The world's yellow metal posted modest gains in the first trading session of the week as it continued to be boosted by safe-haven demand due to concerns about tensions in the Middle East and renewed expectations for the Federal Reserve to The US (Fed) will cut interest rates sooner than expected.
The report released late last week showed that US producer prices fell unexpectedly in December. The data has traders betting that the Fed will cut 166 basis points this year instead previously priced 150 basis points.
Although gold prices are rising, some analysts say the precious metal needs a new catalyst or at least clearer clues about the Fed's monetary policy direction to break out of its current range. in.
According to Trade Nation senior market analyst David Morrison, although gold continues to hold its position, more effort is needed to attract new investors to the market.