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GOLD MARKET ANALYSIS AND COMMENTARY - [Oct 14 - Oct 18]This week, OANDA:XAUUSD have continuously decreased in the early sessions of the week to nearly 2,602 USD/oz because market expectations about the monetary policy of the US Federal Reserve (FED) began to change. . Last week's strong jobs report, combined with a higher-than-expected rise in the Consumer Price Index (CPI), forced the market to temper expectations for a sharp interest rate cut by the Fed next month. However, economic experts note that the slowing US economy will continue to pressure the Fed to cut interest rates, albeit at a slightly slower pace. This combined with US consumer sentiment falling to 68.9 points, and the Middle East geopolitical conflict remaining complicated, pushed gold prices back up to 2,661 USD/oz and closed the week at 2,657. USD/oz. Although the FED may reduce the pace of interest rate cuts in the near future, investors should not forget that US monetary policy is only one factor affecting gold prices. Notably, many central banks have officially announced they will continue to buy gold reserves. As central bank demand continues to dominate the gold market, new questions are being raised about where all that money is going and what impact it has on the dollar. Certainly, reducing the proportion of USD in foreign exchange reserves of many countries will cause the USD to gradually depreciate. In addition, BRICS member countries are promoting local currency swaps and using electronic currencies in international trade, also creating significant downward pressure on the USD. In addition, the record high level of US public debt is weakening the purchasing power of the USD. The USD has been under a lot of downward pressure, so of course it will positively support gold prices in the medium and long term. 📌Technically, on the H4 chart, there are continuous periods of sideways accumulation, then continuously creating new high prices afterward. And this time is no exception if the price breaks the peak of 2,685 USD/oz. Currently, the support level is established around the circular resistance level of 2600, while the resistance level is around the 2685 mark. Next week, if the gold price trades above the 2625 threshold, we can expect the price to continue to increase beyond the 2700 threshold. In case the support mark of 2600 is penetrated, the gold price will temporarily decrease and adjust below the level of 2555. Notable technical levels are listed below. Support: 2.555 – 2.600 – 2.625USD Resistance: 2.700 – 2.685USD SELL XAUUSD PRICE 2701 - 2699⚡️ ↠↠ Stoploss 2705 BUY XAUUSD PRICE 2624 - 2626⚡️ ↠↠ Stoploss 2620 BUY XAUUSD PRICE 2554 - 2556⚡️ ↠↠ Stoploss 2550
OANDA:XAUUSDLong
by Xayah_trading
DXY Is Very Bullish! Long! Please, check our technical outlook for DXY. Time Frame: 1D Current Trend: Bullish Sentiment: Oversold (based on 7-period RSI) Forecast: Bullish The market is testing a major horizontal structure 102.912. Taking into consideration the structure & trend analysis, I believe that the market will reach 104.409 level soon. P.S We determine oversold/overbought condition with RSI indicator. When it drops below 30 - the market is considered to be oversold. When it bounces above 70 - the market is considered to be overbought. Like and subscribe and comment my ideas if you enjoy them!
TVC:DXYLong
by SignalProvider
1
NZDUSD Is Going Down! Short! Here is our detailed technical review for NZDUSD. Time Frame: 2h Current Trend: Bearish Sentiment: Overbought (based on 7-period RSI) Forecast: Bearish The market is approaching a key horizontal level 0.610. Considering the today's price action, probabilities will be high to see a movement to 0.605. 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!
Short
by SignalProvider
2
More than 5% profit congratulations to the bullsIt's not too late this is just the beginning Since October we've seen a major panic sale from bitcoin holders simply because of some uncertainties regarding the political state of the USA I've entered my trade September 1st at 59036$ and I've been green since then Bitcoin did only what he was supposed to do which is recover in an explosive way 🧨🧨🧨🧨🧨 It's just the beginning it will at least go above the 65858$ higher high
Long
by thebitcoin_trader
Alikze »» FLOKI | Upward wave 5 scenario🔍 Technical analysis: Ascending wave 5 scenario - Ascending triangle corner pattern - In the 1W timeframe, a zigzag correction was preceded by an inability to break through the supply zone. - Zigzag modification has formed an ascending angle triangle pattern. - According to the bullish structure and behavior, it can have another bullish cycle. - Currently, it has left the corner of the ascending triangle and has faced selling pressure in the supply area. - Therefore, it can break the supply zone after the pullback to the broken structure and move to the next supply zone. - This rising log can be wave 5 and the last wave of the rise, which can rise at least as much as the previous wave (wave 3). Or to be able to grow as much as the previous log. 💎Therefore, according to the size of the previous log, which has grown by more than a thousand percent, this log can grow by almost 1000 percent from the floor before the growth modification. ⚠️ Note: If the bottom is touched before, the zigzag correction will be complicated and the analysis will be invalid and need to be re-checked. ⚠️ »»»«««»»»«««»»»««« Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support. Best Regards,❤️ Alikze. »»»«««»»»«««»»»««« BINANCE:FLOKIUSDT
Long
by alikze
2
Lingrid | USDJPY potential Continuation of Bullish TREND The price perfectly fulfilled my previous idea. It hit the TP. FX:USDJPY pair is currently making higher highs and higher lows, indicating a bullish trend. The price has fluctuated around the psychological level of 147.000, but it has finally broken through and closed above this level with a significant bullish candle, highlighting its importance. I believe the market may consolidate a bit longer, as the 150.000 level is looming above before moving upward. My goal is resistance zone around 150.800 Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩‍💻
Long
by Lingrid
12