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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
EU extends uptrendConan is happy to see you all again. Currently, there are signs that the EURUSD market is bullish, with the level trading around 1.1160. Looking at our 4-hour chart, we can see that the EU has broken through the downtrend line and started to rise from 1.1068. If the price holds 1.1175, the next forecast is likely to be a drop to around 1.1130 in line with the correction and test of the 34.89 EMA. At this point, the EU will receive strong support, which will help the currency reverse and increase in value to new highs. Good luck to all of you and successful trading!
Long
by ConanTradingFX
1
Should I buy or sell EUR/USD today?Hello everyone! Today, let's follow the latest developments of the EUR/USD pair! Currently, EUR/USD is still maintaining an upward trend, holding below 1.1078. Despite a slight correction on Monday from 1.1200, there is nothing to worry about. Because in the short to medium term, the market sentiment remains very optimistic amid a weakening US dollar around the signals of expected 4 rate cuts this year, thereby supporting the currency pair. On the other hand, if EUR/USD finds support around 1.1068, I believe it will continue its upward momentum and may break the target level of 1.1200, paving the way for a journey to conquer new highs. That's my opinion! Do you agree? Share your thoughts!
Long
by ConanTradingFX
GOLD Will Go Lower! Sell! Please, check our technical outlook for GOLD. Time Frame: 9h Current Trend: Bearish Sentiment: Overbought (based on 7-period RSI) Forecast: Bearish The market is testing a major horizontal structure 2,619.66. Taking into consideration the structure & trend analysis, I believe that the market will reach 2,573.71 level soon. P.S Overbought describes a period of time where there has been a significant and consistent upward move in price over a period of time without much pullback. Like and subscribe and comment my ideas if you enjoy them!
SAXO:XAUUSDShort
by SignalProvider
1
BTCUSDT Trend Strategy and Review.BTCUSDT is currently in recovery mode, gaining upward momentum from the support level of $53,780. As it approaches a key resistance zone, there's a possibility it might form a double top pattern. However, given the current market conditions and technical indicators, I’m anticipating a price rebound with a target of $68,300. My short-term strategy is to sell, while my long-term play is to buy. What’s your take? Drop a comment and let me know your thoughts!
Long
by Suyouu
1
USDJPY Bullish Outlook?Conan, hello everyone! After a long period of decline, USDJPY has ended the trading day with a gain, currently trading at 143.85. It can be seen on almost all timeframes that UJ is making significant gains, indicating a very positive outlook for price growth. With UJ continuing to trade steadily at this high level, it is likely that the 142.80 price level will be retested in the near future, forming a trend line and using it as a strong support level for further increases. The current expected price level is 144.00 and then 147.00.
Long
by ConanTradingFX
USOIL Is Going Down! Sell! Take a look at our analysis for USOIL. Time Frame: 9h Current Trend: Bearish Sentiment: Overbought (based on 7-period RSI) Forecast: Bearish The market is trading around a solid horizontal structure 71.19. The above observations make me that the market will inevitably achieve 67.16 level. P.S Overbought describes a period of time where there has been a significant and consistent upward move in price over a period of time without much pullback. Like and subscribe and comment my ideas if you enjoy them!
TVC:USOILShort
by SignalProvider
1
CADCHF Will Fall! Short! Please, check our technical outlook for CADCHF. Time Frame: 2h Current Trend: Bearish Sentiment: Overbought (based on 7-period RSI) Forecast: Bearish The market is testing a major horizontal structure 0.626. Taking into consideration the structure & trend analysis, I believe that the market will reach 0.624 level soon. P.S Please, note that an oversold/overbought condition can last for a long time, and therefore being oversold/overbought doesn't mean a price rally will come soon, or at all. Like and subscribe and comment my ideas if you enjoy them!
Short
by SignalProvider
2
AUDCHF Will Go Lower From Resistance! Sell! Here is our detailed technical review for AUDCHF. Time Frame: 1h Current Trend: Bearish Sentiment: Overbought (based on 7-period RSI) Forecast: Bearish The market is approaching a key horizontal level 0.577. Considering the today's price action, probabilities will be high to see a movement to 0.575. 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!
Short
by SignalProvider
1
EUR/USD: Waiting for a Decisive MoveThe current chart shows that EUR/USD is hovering around a key area, which could be a turning point for the pair's next trend. With the current price near the 34 EMA and 89 EMA, this is a key support area that if held could provide momentum for a new rally. The price is currently centered around 1.11839, just below the short-term resistance level, which shows some hesitation on the part of investors, waiting for further signals from the market or economic news that could affect the pair. A breakout above this level could demonstrate the strength of the uptrend and open the way for a higher target at 1.12200. Meanwhile, the support area with a lower limit is at 1.11000. A drop below this level could lead to a deeper bearish move, with the next target likely being 1.10022.
by Naoomi
Gold Sweeps New Highs After Fed Rate CutThe 4-hour chart for gold (XAU/USD) is currently showing a clear uptrend, with the price hitting a recent high of $2,625.445 per ounce before showing signs of a slight pullback. Notably, gold has broken above both the 34-day exponential moving average (EMA) and the 89-day EMA, indicating the strength of the uptrend. The recent price increase can be linked to the latest decision by the US Federal Reserve to cut interest rates by 0.5%, a move that is intended to stimulate the economy but has boosted safe-haven assets like gold. The market is reacting positively to the changes in monetary policy, and gold, as a safe-haven option, is expected to continue to rise in price amid the current uncertainty. For traders, the next resistance level to watch would be around $2,630. If gold breaks above this level, it could look for higher profit targets (TP) at $2,650 and possibly as high as $2,700, depending on market momentum and upcoming economic data. A stop loss (SL) is recommended at $2,580 to protect profits and minimize risk in case of a sudden price correction in the market.
OANDA:XAUUSD
by Naoomi