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Gold todayHello everyone! Overall, Gold is trying to maintain its upward momentum from today's Asian session, despite the risk aversion from China. The weakness in the USD continues to provide momentum for gold. Currently, a cup with handle pattern has appeared, indicating a positive signal for the medium-term outlook. However, the important resistance level of $2,670 is a big challenge. If buyers can take advantage of the strong momentum from the $2,660 - $2,665 zone, supported by the 34 EMA that has not shown any signs of reversal, then gold could definitely break out to $2,680 in the short term.
OANDA:XAUUSDLong
by ConanTradingFX
3
Gold prices continue to rise?Gold is struggling to capitalize on the positive momentum from Friday and is currently hovering around $2680. With clear signs of bullish momentum being shown by the 34 and 89 EMAs, there are no significant signs of a reversal yet. The next prediction is that gold will continue to trade in the range of $2683 to $2660. The $2660 level at the 89 EMA could be retested, but only in the short term for consolidation. The preferred direction remains an upward movement.
OANDA:XAUUSD
by Bentradegold
EUR/USD should buy or sell ?Hello everyone! The EUR/USD pair has just broken a four-day losing streak and is currently hovering around 1.0840 in the Asian session on Friday. The recent decline has been largely driven by the strengthening of the US Dollar, with the greenback hitting a two-month high of 103.87 on Thursday. Despite the strong recovery, the market is now gradually shifting towards expectations that the US Federal Reserve (Fed) may cut interest rates soon, helping the EUR/USD pair recover slightly and minimize losses in the short term. As seen on the 4-hour chart, the EUR/USD downtrend remains clear, however, the key support zone at 1.0810 and then 1.0777 is still holding. Moreover, a harmonic pattern has formed, signaling a potential reversal, at least towards the 1.0980 level, where confluence signals are emerging strongly. Do you think this pair could reverse and rise again soon? Don't miss out on the exciting trading opportunities that await!
by ConanTradingFX
USDJPY: Uptrend Remains IntactHello everyone! USD/JPY is finding fresh demand alongside the US Dollar in the Asian session on Thursday. New measures in the Chinese real estate market disappointed and strengthened the safe-haven greenback. The US Retail Sales data will now be in focus, and looks vulnerable. However, in the short term, with the trend still intact and because of the principle of "trend is your friend", Ben predicts that the price will correct slightly to test the 34 and 89 EMA before continuing to strengthen further in the near term. What do you think about this major pair today?
Long
by Bentradegold
Gold price increased sharply, reaching 2650 USDGold prices made an impressive reversal today, rising more than $25 to $2,635, after six consecutive sessions in the red. The recovery came on Thursday, as investors began to adjust their strategies based on a series of important economic data from the US. The CPI report showed signs of cooling inflation, while employment data reflected a weakening labor market. These signals have reinforced the belief that the Fed is on the right track in adjusting monetary policy. This is the factor that helped gold prices rebound, as investors saw a less tense economic environment, supporting safe havens like gold. With positive signals from the economy and confidence in the Fed's policies, gold is returning to an upward trend, opening up attractive opportunities for investors.
OANDA:XAUUSDLong
by Bentradegold
Update latest gold price today.Gold prices continued to rise slightly on Tuesday as Treasury yields eased, while investors cautiously awaited more data for fresh clues on the Federal Reserve's easing cycle. The 10-year yield fell as the day's report showed a slowdown in manufacturing activity in New York state. Accordingly, bond yields are putting slight pressure on gold. However, the advantage is still tilted towards a sideways or higher scenario for gold in the short term, assuming that both bond yields and the USD will decline. In the current environment, I appreciate the surprising strength of this precious metal. Gold has not succumbed to the strength of the USD and Treasury yields, and the rally continues to be simmering.
OANDA:XAUUSDLong
by Bentradegold
GBPUSD Ben hello everyone! On the 1-hour chart, the downtrend continues. After losing momentum from 1.306, GBPUSD has continued to decline. With the market looking unfavorable and the Fed’s interest rate cut policy unclear, GU has lost value. The next target for the next decline is seen at 1.2950, ​​which is a strong psychological barrier. However, the possibility of a rebound cannot be ruled out if the bulls manage to push the price up from 1.2980 as mentioned on the chart.
Short
by Bentradegold
EURUSD continues downtrend below 1.0900Dear Friends, You may be wondering why the price has fallen so sharply. In international market news: - The US Dollar (USD) continued to appreciate, albeit modestly, encouraging the US Dollar Index (DXY) to maintain multi-week highs above 103.00. - Supporting the greenback's rally in recent weeks were the minutes of the Federal Open Market Committee (FOMC) meeting on September 18. The minutes showed that a "majority" of policymakers favored easing monetary policy with a 50 basis point cut, but did not commit the Federal Reserve to a specific timeline for future cuts. Results: - As both the Fed and the ECB consider additional interest rate moves, the EUR/USD outlook will depend on macroeconomic trends. The US economy is expected to outperform the Eurozone, potentially boosting the USD further. On technical analysis and gold price forecast for the coming period: - EURUSD has broken above the support level at 1.0892 and the price volume is below both the 34-day and 89-day exponential moving averages (EMA), suggesting a higher possibility of further declines. - Currently, EURUSD is trading near the resistance level of 1.0892, with immediate support at 1.0850.
Short
by Bentradegold
GBPUSD's decline has not stopped yetHello everyone, Conan! Today, the GBPUSD pair is maintaining a mild negative trend, trading at around 1.0544. After losing momentum from 1.3000, GBPUSD has continued to decline. The pair could continue to decline in the coming period, as the market reassesses the Bank of England (BoE) policy outlook following weak inflation data. The current support level is set at 1.2976, significant stops will accumulate below this figure and if triggered, the decline could accelerate towards 1.2950.
Short
by ConanTradingFX
1
EURUSD extends gains above 1.0850Conan, hello everyone! Currently, EURUSD is taking advantage of the upside opportunity from the strong support at 1.0852. It can be seen that the pair is cooling down and gradually opening up more upside opportunities. It is clear that EUR/USD is on a tear, falling to a multi-week low as the Euro continues to weaken ahead of the upcoming European Central Bank interest rate meeting on Thursday. However, the widely expected ECB rate cut of a quarter of a percentage point, or 25 bps, has eased some of the pressure on the pair. The price is currently trading around the 1.0862-1.0860 range and remains dependent on the price momentum of the US Dollar (USD). Resistance: 1.0876, 1.0905 Support: 1.0852, 1.0858
by ConanTradingFX
Gold price update: Price exceeds 2665 USDHello everyone! As Conan predicted earlier, gold did indeed take advantage of the $2,665 support level and broke above the nearest resistance level of $2,770. As a result, gold rallied and hit an earlier high of $2,685 before quickly correcting slightly but still maintaining its best uptrend in 2024. Currently, according to CME's FedWatch tool, traders are pricing in a 96% chance of a further 25 basis point cut in US interest rates at its November policy meeting. In addition, experts predict that the ECB is likely to cut rates again at its October 17 meeting. Likewise, expectations for a BoE rate cut at its meeting next month are gradually increasing as domestic inflation shows signs of slowing.
OANDA:XAUUSD
by ConanTradingFX
EUR/USD Struggles to Recover - Bears Dominate!Today, EUR/USD pair continued to fluctuate in a narrow range below the 1.0900 mark during Thursday's trading session, holding on to recent heavy losses, after falling to a near two-month low the previous day. Technically, the old support level has turned into a stiff resistance, making any recovery attempt difficult. Meanwhile, technical indicators and signals from EMA 34, 89 continue to favor the Bears, putting EUR/USD on the back foot against other rivals. Good luck traders!
Short
by Bentradegold
2
Trent intraday overview not created as discussedIn my yesterdays post I shared my bullish overview in TRENT because it was performing well as compared to Nifty 50. Yesterday one condition was if price test yesterday high and hold at resistance level then upmove will be expected in TRENT. But today price tested yesterday high but not holded at resistance level and created a good retracement. Till 10am to 10:30am price was at yesterday high and created a retracement of 3 red candles with very low volume, So from here i was looking to enter in the trade but ther candle of 11:15 was not shown any strength and was indecisive (i was expecting healthy green candle with volume). next candle breaked its low with volume confirmed me that today price is not going to test resistance today, so i decided not to trade in TRENT.
NSE:TRENTLong
by jain_abhishek
GBPUSD: The sellers still have the upper hand.Currently, GBPUSD is moving around 1.305 at the beginning of the weekend trading session with the weakness continuing since the beginning of the week. Although there is a recovery, it is only short-term and is a trend correction. With a strong reversal from the EMA 34, 89, this currency pair is still heavily influenced by the technical selling sentiment. In the short term, we expect to continue to prioritize selling with the profit-taking target right at the limit of the downtrend line marked on the chart.
Short
by Bentradegold
EURUSD should buy or sell?Hello everyone! EURUSD is currently following my previous prediction as it is in a deep decline, hovering at 1.098 and breaking out of the support level of 1.101. With 3 deep declines and breaking out of 3 support levels, sellers continue to profit. Therefore, I expect it to continue moving down at least to the lower price channel, as indicated by the flat EMA for shorting. Happy trading and don't forget to share your opinions in the comments section!
Short
by ConanTradingFX
XAUUSD: Continues to fall furtherHello dear friends, nice to meet you in today's gold price race! Today, gold has not changed much, mainly fluctuating around the $2600 mark, and the downtrend is still dominant. The metal is under pressure as the USD starts to regain strength. On the analytical chart, the price has dropped below the support level of $2625. The 4-hour chart shows the possibility of this downtrend continuing soon. With the acceptance of the falling wedge resistance and the reaction at the EMA 34 confirmed, we may not see any significant support until $2575. How do you think gold will perform in the coming time?
OANDA:XAUUSDShort
by Bentradegold
XAUUSD: The Downtrend Continues!Currently, we are witnessing a recovery attempt in gold after testing the psychological support level at $2,600. It is clear that sellers were unable to push the metal below this important level, as gold found new support at $2,605, showing signs of a steady recovery since yesterday. Looking ahead, gold prices have paused their earlier declines in preparation for the Fed meeting on Wednesday. The US dollar has maintained its gains, supported by rising Treasury yields, amid geopolitical tensions in the Middle East and China’s woes. Meanwhile, gold appears to have stalled near the key support level at $2,630, with the daily RSI indicating room for upside. However, on the 4-hour chart, the downtrend remains intact, with significant resistance around $2,650. Therefore, I still believe XAU/USD will continue to trade lower, with a potential target set at $2586.
OANDA:XAUUSDShort
by Bentradegold
XAUUSD: Support Holds, Breakout Ahead?Looking at XauUSD's 4 -hour chart, we can see that the price is being blocked by the decreasing resistance line and there is no clear breakthrough through this level. EMA 34 (yellow) is currently acting as a short -term resistance close to the current price, while the EMA 89 (blue) continues to be below, supporting the price if the batch occurs sharply. An important support area (purple area) has been determined from 2,630 to 2,645, this is where the price has reacted in previous times. This area can be a point to track the purchase signals if the price continues to decrease and touch this area. Scenario 1: If the price continues to be resisted from EMA and the resistance line decreases, the price may check the support area again. There will be a possibility of a batch from here, creating opportunities for the buyer. This is supported by the potential "Double Bottom" model, which can be clearly seen in case the price check the support and maintain. Scenario 2: If the price can break the resistance line above, especially when closing the candle above 2,652, this will be a strong signal for the continued trend of increasing and opening the potential to 2,670 or higher.
OANDA:XAUUSDLong
by Bentradegold
USDJPY Set to Surge Higher – Targeting 150.00?Dear traders! USDJPY is currently maintaining a fairly steady uptrend, hovering around 147.64 despite a slight 0.34% adjustment downwards during the day. In my personal view, this correction is largely due to the pair encountering the upper boundary of the short-term rising channel. However, upon closer inspection, technical factors such as the rising wedge and the EMA 34.89 remain strong, indicating that the appeal of this pair is far from over. Considering these factors, Ben’s personal opinion is that USDJPY will likely continue its upward momentum, with a potential target around 150.00. Wishing you all successful and prosperous trading!
Long
by Bentradegold
1
Gold Price Today: Struggling to Break Free!At the start of Tuesday’s trading session, gold (XAUUSD) is hovering around $2,646, with a modest increase of 0.17% on the day. However, the precious metal lacks strong momentum, as the U.S. jobs report exceeded expectations, dampening hopes of a significant rate cut by the Federal Reserve. This has driven up U.S. Treasury yields and strengthened the USD, putting downward pressure on gold prices. From both a fundamental and technical perspective, a further decline in gold could be expected, especially if it reacts to the trendline or resistance levels. A selling strategy could be considered if sellers capitalize on the price correction influenced by the 34 and 89 EMA indicators.
OANDA:XAUUSDShort
by ConanTradingFX
GBP/USD: Bullish Continuation or Reversal?Today, GBP/USD continues its upward trend and is trading around 1.312 by the end of the session. Overall, the pair is approaching a key support level, and the EMA 34 and EMA 89 lines have not yet reversed, indicating that bullish momentum may still be in play. The recent price pullback seems more like a test rather than a confirmed reversal. However, we must not rule out the possibility of breaking support, especially if the Head and Shoulders pattern completes as projected. The 1.3261 resistance level is currently being actively defended by sellers. Should a break occur, GBP/USD will present a profitable opportunity for short sellers, with the price potentially heading towards the lower boundary of the ascending channel once again. This is a critical moment to closely monitor the market. Whether it's a continuation of the uptrend or a support break, make sure you're ready for both scenarios. Good luck with your trading!
Short
by Bentradegold