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GBPUSD: After the FED, Awaiting the BOE and BOJ!The GBP/USD pair found support near the 1.3150 area on Thursday, temporarily halting the correction from the recent high of 1.3300, the highest level since March 2022. The 4-hour RSI remains close to 70, suggesting that the pair could enter overbought territory in the short term if it continues to rise. The bullish sentiment for GBP/USD has been supported by expectations of an aggressive rate cut from the Fed, which has weakened the US Dollar. This week, markets are awaiting the rate decisions from the Bank of England (BoE) and the Bank of Japan (BOJ). In the short term, GBP/USD could consolidate above 1.3200 before potentially resuming its rise toward 1.3260 and 1.3300. On the downside, a break below 1.3150 would open the door for a drop towards 1.3100, especially if US economic data supports a rebound in the dollar.
Short
by Forex48_TradingAcademy
3
Gold Analysis: Waiting for the Fed!Gold prices attracted buying after a brief overnight corrective drop, finding support due to expectations of a 50 basis point rate cut by the Fed. This limits the attempted recovery of the US Dollar (USD) and supports the precious metal, although buyers seem reluctant to place aggressive bets ahead of key central bank events. Immediate resistance is at the all-time high of $2,590, with a test of the psychological level of $2,600 if surpassed. Acceptance above this level could open the door to the next target of $2,650. On the other hand, if the Fed disappoints market expectations for a more accommodative stance, gold could face a fresh wave of selling. In that case, the price could drop towards $2,532 and $2,500. The Fed's decision on Wednesday represents a crucial point for the future direction of gold. Markets currently estimate a 65% probability of a 50 basis point rate cut, and the weakness of the US Dollar could continue to provide fundamental support for gold. However, if the Fed opts for a more moderate 25 basis point cut, the dollar could see an immediate upward reaction. More important than the decision itself will be the Fed’s communication, including Jerome Powell's words and the Dot Plot, which will provide guidance on future policy.
OANDA:XAUUSDShort
by Forex48_TradingAcademy
1
AMD... Is it time to BUY?? YESSIR!!What are we looking at technically? - The market is in an obvious uptrend - A bullish BOS (break of structure) - A retracement to the OTE (Optimal Trade Entry) fib levels between .705 - .786 - The bullish FVG is also aligned with the OTE levels for a confluence of support - Price has formed a fractal low on the +FVG as price completed the External to Internal run on liquidity. Now comes the IRL back to the ERL move. The swing high at 227.30 is the target, as that is where the buy side liquidity is. Fundamentally, the recent Amazon partnership is the latest move that will give AMD a huge boost. Not mention the AMD may become a buyer of INTEL's AI Fabric Chip. Things are looking up for the organization. What do you think? It's a BUY for me. Disclaimer: I do not provide personal investment advice and I am not a qualified licensed investment advisor. All information found here, including any ideas, opinions, views, predictions, forecasts, commentaries, suggestions, expressed or implied herein, are for informational, entertainment or educational purposes only and should not be construed as personal investment advice. While the information provided is believed to be accurate, it may include errors or inaccuracies. I will not and cannot be held liable for any actions you take as a result of anything you read here. Conduct your own due diligence, or consult a licensed financial advisor or broker before making any and all investment decisions. Any investments, trades, speculations, or decisions made on the basis of any information found on this channel, expressed or implied herein, are committed at your own risk, financial or otherwise.
NASDAQ:AMDLong
by RT_Money