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Gold Heads to Test Resistance, What Happens Then?Gold continues to extend its upward trend today, currently trading at $1880. After the overnight PPI, the precious metal has gained buying interest, leading to a significant increase in gold prices during yesterday's trading session. Additionally, as the value of the US dollar declines and bond yields decrease, many investors have increased their demand for gold. In the near future, the gold market may test the resistance level at $1877 before potentially returning to a support level, as the US prepares to release the Consumer Price Index (CPI) for August 2023 on the morning of October 13th. The CPI can have an impact on the currency market and influence the direction of gold prices.
FXOPEN:XAUUSD
by AlselvSignals
5
Gold maintains downward momentum, long-term analysisHello dear friends! Gold continues to decline as predicted, since the time of writing, gold is trading at $1872. Last night, the US announced that the Consumer Price Index (CPI) increased by 3.7% year-on-year, higher than the forecasted 3.6%. However, the core CPI, which excludes food and energy prices, decreased from 4.3% to 4.1%, meeting market expectations. Inflation in the US is decreasing, and a strong job market will encourage the Federal Reserve (FED) to raise interest rates in November 2023 and maintain high rates for a longer period. Due to this reason, gold sellers continue to push prices down, with an expected decrease to $1800. This downward trend will persist until any positive developments occur that lead to an increase in prices.
OANDA:XAUUSDLong
by AlselvSignals
4
AUDUSD has not been able to get out of the discount trendHello dear friends! Today, AUDUSD has not been able to end its downward trend as it touched the weekly low at 0.632. As a result, the escalating political tensions in the Middle East will continue to drive capital flow into safe haven assets, which is disadvantageous for risk currencies like the Australian Dollar (AUD), causing its value to decrease. From the technical analysis chart: After forming a double top at 0.689 and breaking out at 0.670, AUDUSD has consistently encountered obstacles. Currently, a bearish trend is forming and the price range is gradually narrowing. It is expected to have a slight price increase this week before breaking the range at 0.624 and continuing to decline further. What about you? Do you agree with this opinion or not? Please comment and share your thoughts!
by Karina_Bella
4
How was the first gold trading at the beginning of the week? Hello dear friends, it's great to meet again and chat in a new trading week! Currently, the price of gold is slightly decreasing this morning, with gold trading at $1920, down about $12 from the previous trading session. Last week, the gold market witnessed an impressive surge as the price of this precious metal increased by over $60 per ounce, thanks to strong safe-haven demand both at the beginning and end of the week. The decrease in US Treasury bond yields, weakening US dollar, and ongoing political instability continue to be factors driving the upward momentum of gold. Regarding the gold price outlook for this week, market analysts and retail investors alike expect gold to continue its upward trajectory, with a target price of around $1950 by the end of October 20th, followed by further breakthroughs. What are your thoughts? How do you think the gold market will move? Leave your comments below!
OANDA:XAUUSDLong
by Karina_Bella
2
EUR/USD advances to mid-1.0500s on softer US DollarHello dear friends! Today, with the stronger US dollar, the EUR/USD pair has been pushed down from its weekly high of 1.0630 to 1.0520. Economic data from the United States reflects that the fundamental factors still support the Greenback and combined with higher interest rates, it has put downward pressure on this currency pair. The reversal of EUR/USD is occurring near an important resistance level, marking a break below the lower limit of the upward channel. Technical indicators on the 4-hour chart indicate that the exchange rate will continue to decrease, but the pair is currently near the support level of 1.0520. Below that area, the next support level is 1.0500. If consolidation occurs below the 1.0490 level, it will increase selling pressure and reveal a level of 1.0460, slightly higher than the lowest level in October.
Short
by Karina_Bella
10
GBP/USD retraces the recent losses near 1.2150Hello traders! Today, GBP/USD is recovering from recent losses, trading higher around the 1.2150 level in Monday's trading session. This currency pair may face challenges due to potential changes in discussions about the trajectory of the monetary policy by the Federal Reserve. If GBP/USD fails to hold above 1.2200, sellers may show concern, and temporary support seems to have formed around 1.2170 before 1.2130 and 1.2100 (psychological and static levels). On the other hand, if 1.2200 is confirmed as support, GBP/USD could extend its recovery towards 1.2250 and 1.2300 levels.
by Nolan_Signal
Gold price skyrocketed after a day Hello traders! Yesterday, gold experienced extremely strong breakthroughs, easily surpassing the barriers at the 1888 and 1900 USD levels. Currently, gold has closed its trading with a rapid price jump, pausing at 1932 USD and increasing by approximately 3.40% in a day. The upward momentum is still showing no signs of cooling down, with strong support at 1890 and 1905 USD. The price target of 1970 USD is highly regarded for this price surge.
OANDA:XAUUSDLong
by Nolan_Signal
GBP USD: Back to the downtrendHello traders! At the end of the GBPUSD trading session, the pair has continued its downward trend since breaking out of the previous uptrend at 1.2758. Currently, the price is consolidating at 1.2146, following a downward channel. Furthermore, the reversal signal from the EMA reinforces the bearishness of this decline. It is anticipated that the support level for this decline will be around 1.1816, with current resistance at 1.2305. What are your thoughts on this article? Feel free to leave your comments below!
by Nolan_Signal
Gold increased breakthrough day by day.Hello traders! Gold had a significant volatility last week. It can be observed that with the Federal Reserve's tightening cycle coming to an end, the resistance that monetary policy has exerted on gold throughout most of 2023 is beginning to weaken, creating opportunities for the market to continue its breakout. As predicted earlier by Nolan, gold has indeed broken out of the downtrend channel with a breakthrough at $1915. Therefore, the price increase has been established, and in this case, my target will be a new high at $1980 and a long-term target at $2050.
OANDA:XAUUSDLong
by Nolan_Signal
Gold recovers stably, outlook analysisHello everyone! Currently, the price of Gold has seen little change compared to the beginning of the week. It is currently trading at $1863 per ounce. Gold has been trying to accumulate since hitting a support level of $1810. Instead of sellers pushing it down to $1800, the support level at 1810 is now seen as a significant level for Gold. The ongoing Israel-Hamas conflict may encourage investors to turn to safe-haven assets like gold during this period. The duration and intensity of the conflict will largely determine this outcome. Stay updated on gold news today and tomorrow! Hopefully, it will be a favorable development for gold prices.
OANDA:XAUUSD
by AlselvSignals
15
EURUSD continues to maintain a discount trendHello dear friends. Currently, EUR USD has ended its trading session for the week at a halt of 1.05067. It can be observed that after several days of attempting a recovery, EURUSD is once again returning to a downward trend as the upward trend chart has been broken with a breakout at 1.0588. With the current trend, it is likely that a further price decline will continue next week, with the current resistance level at 1.0541 and support level at 1.0500. My target will be a price reduction to 1.045. If you find this information helpful and useful, please leave a like and a comment for Karina! I am delighted to receive contributions from you.
by Karina_Bella
Gold today: There are signs of discountHello everyone! After several consecutive days of gains, the price of gold today, October 13th, experienced a decline as inflation data in the United States cooled down, causing the US dollar and US bond yields to rise. Global information: The US announced that the Consumer Price Index (CPI) on a yearly basis increased by 3.7%, higher than the forecasted 3.6%. However, the core CPI, which excludes food and energy prices, decreased from 4.3% to 4.1%, meeting market expectations. With inflation in the US declining and a strong job market, it is expected that the Federal Reserve (FED) will raise interest rates in November 2023 and maintain high interest rates for a longer period. Result: The value of the US dollar surged after these announcements. The yield on the 10-year US bond rose to 4.65%, while the 2-year bond reached 5.07%. Under the pressure of the US dollar and US bonds, speculators are concerned that the price of gold will plummet after reaching $1,885 per ounce. Therefore, they took the opportunity to sell and make a profit. As a result, the global price of gold today dropped by $15 to $1,870 per ounce. Forecast: Using Fibonacci retracement, gold has reached the perfect level at 0.618, indicating a potential decline with successive levels of decrease at $1,869, $1,849, and $1,838.
OANDA:XAUUSDShort
by Karina_Bella
4
Tipping Point ? The Nasdaq Futures have closed below the 50-Day EMA with a very high volume that is 768k contracts today. My view is in the next week if we reclaim the 50-day EMA, then there is a chance for us to rally. But if we stay below the 50Day EMA, then it will go much lower. On the daily time frame, we are creating lower highs for the third time. Be very careful for the next 2 days about the 15,055 level, which is the anchored VWAP. If we start loosing the 15,055 level then there is a good chance that we may test the most recent lows.
CME_MINI:NQ1!Short
by TradesByAdvait
Gold prices increased but unstableDear valued readers, at present, we are witnessing a significant recovery in the price of gold. This precious metal continues its journey to recoup the levels it lost before, with stable trading at 1855 - 1856 USD. Meanwhile, the ongoing conflict in the Middle East may have an impact on major economies in the coming months, including the potential influence on the monetary policies of central banks. This will certainly affect the gold market in the future. Given this situation, gold traders are aggressively buying, although this recovery is still uncertain, as there may still be declines in the future. What we need to do at this time is to wait for market news on Wednesday and Thursday to assess the upcoming direction of gold.
OANDA:XAUUSD
by Karina_Bella
13
Gold on the weekend, noted what?Hello traders! On the 1D chart, the downtrend channel continues to be active, and gold is still developing positively this week with a high price of $1883. However, it has not yet broken out of the prolonged downward trend. Expectations are that after gold reaches the upper limit of the uptrend channel at $1910, there will be a drop. On the other hand, breaking the trendline at $1910 in the future could open up new highs for gold. However, I still have a strong belief that prices will decline in the near future because EMA and RSI are still supporting discounts
OANDA:XAUUSD
by Nolan_Signal
Gold increased higher than 1880 USDHello dear friends, Today, the price of gold is at its highest level in two weeks, reaching nearly $1,880. Gold is trading more firmly thanks to the decrease in the yield of US Treasury bonds due to the latest meeting minutes from the Federal Reserve yesterday. From a technical analysis perspective, when the Bollinger Band range narrowed around the 1820 mark last Friday, it transitioned into an expanding trend with gold's continuous price increase equivalent to nearly $65. In my personal opinion, gold will rise to $1,800 today and then experience a slight decrease to around $1,845 - $1,847 before the upward trend continues.
OANDA:XAUUSD
by Karina_Bella
8
BTCUSD continues to maintain the downtrendDear beloved friends, currently the BTC has not yet ended its downward trend. After breaking important supports today, BTC on the 1-hour chart is showing a sideways movement with a break of the downward trendline at 26,756 USD. Therefore, there is a possibility of a slight recovery in the short term. However, the downward momentum is still strong on larger timeframes such as the 4-hour and 1-day charts, so the downward trend of BTC will continue quickly with Karina's target set at 26,000 USD. If you find this information helpful and useful, please leave a like and a comment! We would be delighted to receive feedback from you!
INDEX:BTCUSDShort
by Karina_Bella
1