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Gold Price Update Today: Short-Term Price Increase OutlookThe price of gold surged to nearly $2,320 at the start of Thursday, indicating a slight recovery in the market after previous challenging periods. However, upon examining the 4-hour chart, it's evident that the potential for price increase remains limited. The Simple Moving Average SMA 20 is trending below the Simple Moving Average SMA 100, signaling unclear direction in the market. Overall, gold is grappling with continuous challenges and fluctuations. Thorough analysis and monitoring of market news are essential for making sound and effective trading decisions.
OANDA:XAUUSD
by Stephen_Anders
10
US GDP Surge Spurs USD Recovery, GBP/USD Retreats Below Key The GBP/USD slid below 1.2500, wiping out much of its daily gains, as the US Dollar staged a robust recovery following the release of the US Gross Domestic Product (GDP) report for Q1, which indicated a sharp increase in inflation. The preliminary GDP index surged by 3.1%, compared to the previous 1.7%. This has fueled expectations that the Federal Reserve will maintain interest rates at restrained levels for a longer period. When looking at the 4-hour chart, we observe a retracement towards the downtrend. Anticipated that the price will continue to gravitate towards the 0.5-0.618 Fibonacci retracement zone. In the context where technical indicators persist in supporting the downward momentum, the price is likely to continue its descent towards the support area at 1.2300.
by Stephen_Anders
Technical Analysis: GBP/USD Increase OutlookGBP/USD has attracted attention with a strong recovery, surpassing the 1.2500 threshold during the European trading session. This currency pair capitalizes on expectations of improvement in the UK's economic outlook and the decline of the US Dollar. Looking at the chart, we can see that the price is supported by the upward trend but still constrained by the SMA 100. It is anticipated to decrease towards the support level near the SMA 20 and SMA 50 before continuing its upward trajectory.
by Daisy_Anna
EUR/USD Maintains Steady Upward Trend Amid Softening USDEUR/USD maintains an upward channel oscillating around the 1.0700 level. The weakening strength of the USD is gradually paving the way for a gentle rise in this currency pair. From a technical standpoint, we observe that EUR/USD continues to hold above the simple moving averages (SMA), while the relative strength index (RSI) remains around the 60 mark, indicating stability in the upward trend. Expectations for further price increases in this pair will encounter a resistance level at 1.0714, potentially shaping the trajectory of its future upward movement.
by Daisy_Anna
Gold Stability Amidst Rising US YieldsGold remains stable amidst a downward trend, given the backdrop of rising US yields. Reduced tensions in the Middle East contribute to market stability, albeit dampening the demand for gold. Looking at the one-hour chart, it's evident that gold's potential for price appreciation is still constrained. The Relative Strength Index (RSI) has solidified around the 40 mark, indicating a significant decline in upward momentum within the downtrend. Furthermore, the formation of a triple top pattern along with substantial price declines also signals a clear phase of market weakness.
OANDA:XAUUSD
by Daisy_Anna
2
Alikze »» EURUSD | Wave 5 correction scenario from leg CIn the daily time, it moved up after a complete 5-wave cycle, which is currently correcting the previous movement wave in a complex three-wave cycle. The last correction log after the breaking of the support area that corrected itself at 61.8 the previous wave has broken the area downwards, which is currently a resistance area for it. This upward correction wave of wave 4 is a correction of a full cycle of the correction log of wave C, which can continue until the support floor before this correction in the form of wave 5, which can include 5-wave correction microwaves, until the support zone. If the behavior and structure of the post changes, it will be updated. »»»«««»»»«««»»»««« 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. Sincerely.❤️ »»»«««»»»«««»»»«««
Short
by alikze
3
LINK/USDT 4hInterval CHARTHello everyone, let's look at the 4H LINK to USDT chart as we can see that the price is moving below the local downtrend line. Let's start by setting goals for the near future that we can include: T1 = $15.22 - $16.25 T2 = $17.33 T3 = $18.81 AND T4 = $20.72 Now let's move on to the stop-loss in case of further market declines: SL1 = $14.46 SL2 = $13.45 AND SL3 = $12.74 - $11.82 Looking at the RSI indicator, we can see that small price movements returned the indicator to the lower part of the range, while the STOCH indicator returned to the lower limit, which may affect the current stop of the correction.
by cryptodailyuk
BTC/USDT 4H Will the correction stop?Hello everyone, let's take a look at the BTC to USDT chart on a 4-hour time frame. As you can see, the price remains in a downtrend channel, in the middle of the range. As we can see, from the drop to the level of around $60,000, the price rebounded to the level of 0.618FIB, at which we can see the current recovery, and the previously mentioned level of $66,987 is again the first significant resistance. Next, the price must overcome the resistance at $69,049, and then it faces an important zone that successfully maintained further upward movement. Looking at the ongoing recovery, you can see that the price is retreating and currently the first important support is at the level of $62,280, then the important level is $59,208, and then around $57,000 and $54,000. Looking at the RSI indicator, you can see that it is based on the local upward trend line, which may stop the current recovery, but the STOCH indicator shows a descent to the lower border, which can also help stop the current downward movement.
by cryptodailyuk
Technical Analysis: Bullish Outlook for USD/JPY Still ContinuesUSD/JPY is currently at multi-decade highs, closing at 155.00. Traders are exercising caution due to increased risks stemming from Japan's forex intervention. The recovery of the US dollar (USD) is bolstering the upward momentum of USD/JPY. From a technical standpoint, the pair is trading above the Simple Moving Averages (SMA), indicating a stable uptrend. However, there are signs of a corrective move, with prices expected to test the 0.5-0.618 Fibonacci retracement levels before resuming a strong upward trajectory
by Stephen_Anders
Downtrend and Short-Term Bullish Outlook for GoldThe price of gold experienced a modest decline towards the end of Tuesday's trading session in the U.S. after reaching a high of 2,334 USD. During the Asian trading session the following day, XAUUSD continued to drop to 2,323 USD, marking a decrease of 0.11%. Despite the weakening of the U.S. dollar following the release of weaker-than-expected U.S. PMI data, gold prices still couldn't sustain their upward momentum. This could be attributed to expectations regarding the Federal Reserve's potential interest rate cuts. From a technical standpoint, there are indications that gold may continue to trend downwards. On the 1-hour chart, the downward trend is supported by technical indicators. Gold prices are currently operating between the Simple Moving Averages SMA 20 and SMA 50, signaling short-term bullishness. Anticipated that prices will test the SMA 50 before potentially experiencing further significant declines.
OANDA:XAUUSD
by Stephen_Anders
9
Market Caution And Challenges EUR/USDThe EUR/USD market is stabilizing around the 1.0700 level after a positive day on Tuesday. However, PMI data from the US dampened the value of the US dollar that day, pushing up the EUR/USD price. At the beginning of Wednesday, the market showed more caution and supported the USD, posing challenges to the rise of EUR/USD. However, despite the market's caution, technical indicators like SMA and RSI indicate that the upward trend is still maintained. The Relative Strength Index (RSI) remains above 50, indicating the strength of the current upward trend. Expectations are for the EUR/USD to continue stabilizing and potentially increasing in the near future.
by Daisy_Anna
1
EUR/USD Holds Steady at 1.0700 Level with Positive IFO DataIn the European trading session on Wednesday, the EUR/USD pair continued to close steadily around the 1.0700 level. Positive sentiment from Germany's IFO psychological data helped stabilize the Euro. On the 4-hour chart, despite recent price declines, the Simple Moving Average SMA 20 remains above the SMA 50 after completing a bullish crossover on Tuesday. Additionally, the Relative Strength Index (RSI) consistently stays above 50.
by Stephen_Anders
Gold: Downward trend continue to maintain in the near futureGold is facing difficulties in capitalizing on the previous day's gains and is oscillating within a narrow range as it enters the European trading session on Wednesday. Global risk sentiment continues to be supported by reduced concerns over escalating geopolitical tensions in the Middle East. This is attributed to the decline in the US dollar (USD) price, coupled with reinforced expectations from the Federal Reserve. From a technical perspective, the upward trend remains intact, but gold prices are currently showing signs of correction. It is anticipated that there will be a retracement towards Fibonacci's support level in the near future.
OANDA:XAUUSD
by Stephen_Anders
4
Gold Price Today: Gold's Adjustment Signals In the Tuesday trading session in the U.S., Gold slipped as it dropped to the crucial support level of 2,300 USD, but quickly found stability thereafter. The recovery of gold prices coincided with the weakening of the U.S. dollar after the PMI data for the United States was announced weaker than expected. From a technical standpoint, looking at the chart, gold is showing signs of slight adjustment, especially as the SMA 20 is trending downwards compared to longer SMAs. It is anticipated that gold prices will adjust and retest the area near the 0.5-0.618 Fibonacci level before continuing its downward trajectory.
OANDA:XAUUSD
by Daisy_Anna
Technical Analysis: EUR/USD Shows Signs of Short-Term Recovery EUR/USD has experienced a significant momentum shift, surging above the 1.0650 level at the start of the European trading session. The short-term technical outlook for this currency pair indicates a gathering momentum for recovery. On the 4-hour chart, we observe the price closing above both the 20-period and 50-period Simple Moving Averages (SMAs), along with the Relative Strength Index (RSI) surpassing the 60 mark. This reflects a positive shift in the short-term outlook for EUR/USD. However, the price is still maintaining its downward trend, and sustaining above the SMAs may only represent a temporary phase. It is conceivable that the price will continue to test and trade below these SMA levels in the near future.
by Daisy_Anna
Gold Market Analysis: Gold Continues Downward Trend Gold extended its downward momentum at the start of Tuesday's Asian trading session, dropping to 2,300, down more than 2% from Monday. The decline seemed somewhat contained due to speculation that major central banks would cut interest rates later this year. From a technical standpoint, this sharp decline has brought gold prices to touch the simple moving averages (SMA), along with the Relative Strength Index (RSI) hovering around oversold territory, nearing the 28 mark. However, as the downward momentum of gold prices has reached a significant level, there are indications of a correction. It is anticipated that gold prices will continue to touch the SMA 20 level before witnessing a recovery from the sharp decline.
OANDA:XAUUSD
by Daisy_Anna
EUR/USD Hovers Near 1.0650 Amid Modest USD RecoveryEUR/USD remains near the low of around 1.0650 in the European trading session on Tuesday. The modest recovery of the US Dollar (USD) has driven EUR/USD to continue its downward trend. According to the analysis from the 4-hour chart, the downtrend of the EUR/USD currency pair seems to show signs of notable recovery. Anticipated that there will be a testing phase for the Simple Moving Average SMA 20 before resuming the downward trend. However, this also needs to be carefully considered in conjunction with the overall market conditions and other factors such as economic and political news impacting currency pairs. The uncertainty about the market direction can create a challenging trading environment, and investors need to evaluate and manage risks prudently in their investment decisions.
by Stephen_Anders
2
LINK/USDT 4HInterval ChartHello everyone, let's look at the 4H LINK to USDT chart as we can see that the price is moving below the local downtrend line. Let's start by setting goals for the near future that we can include: T1 = $16.14 T2 = $17.38 T3 = $18.75 T4 = $20.54 AND T5 = $22.88 Now let's move on to the stop-loss in case of further market declines: SL1 = $14.39 SL2 = $13.34 SL3 = $11.79 AND SL4 = $9.16 Looking at the RSI indicator, it can be seen that it began to turn around before the upper limit, while the STOCH indicator, despite a slight price recovery, returned to the lower part of the range, which creates room for a new increase.
by cryptodailyuk