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Gold Set To Take On $2000 Amidst The Middle East CrisesThe global markets often react to geopolitical events, and the rising Middle East conflict is a prime example, drawing investors' attention worldwide. This tension has amplified the demand for gold, a traditionally secure investment. The ongoing Israel-Hamas conflict underscores gold's safe-haven status. Gold prices have surged by 9% since October 6th. Looking back to August 2020, prices have ranged between $1614 and $2075. Such consolidations hint at a significant impending move so a breakout might be on the horizon. Recently, gold approached the crucial $2000 mark, a level that price last traded above in May 2023. Surpassing this could lead to price challenging its all-time high of $2081. With the Middle East conflict persisting, gold's appeal as a protective investment might push its prices to new records heights, even as the financial landscape remains unpredictable.
TVC:GOLD
by Sublime_Trading
💡GBPUSD: Next prediction💡Sterling strengthened after UK September services PMI was revised to 49.3 from the preliminary forecast of 47.2 - a forecast that may have influenced one or more of the Bank of England's five monetary policy committee members who voted to keep rates on hold last month member. 💡After the Bank of England kept interest rates unchanged in September, IMM speculators entered a net short position in the pound for the first time. As of the week of October 17, the net short position in the pound rose to 11,209 contracts.
Short
by Stone_Haven
💡 BTCUSD: Decrease after unexpected increase💡 The H4 BTCUSD uptrend persists as a result of the price surging to a new high following recent strong momentum. Additionally, there is an overbought condition in H4 BTCUSDT, evident as the latest H4 bars extend beyond the upper boundary, indicating a potential price correction. Examining the most recent H4 bars reveals a weakening bullish trend, as these bars exhibit long upper shadows, suggesting selling pressure from above. This kind of price action frequently signals a forthcoming correction.
BINANCE:BTCUSDShort
by Stone_Haven
💡XAUUSD: Ability to recover after a slight decline💡At the end of yesterday's trading session, the price of gold experienced a slight decrease, putting an end to the impressive surge that took it close to $2,000 per ounce in the previous week, while the ongoing tensions in the Middle East show no signs of abating. 💡According to David Meger, the Director of Metal Trading at High Ridge Futures, the demand for safe-haven assets may continue to push gold prices higher after a brief period of decline. He expressed the belief that political instability and unrest in the Middle East will likely keep driving gold prices upwards. 💡 Meger also added, "If inflation data exceeds expectations, it could raise concerns about interest rate hikes, which may subsequently lead to an increase in the demand for safe-haven assets."
OANDA:XAUUSDLong
by Stone_Haven
Netflix Surges 16% Post Earnings!Netflix's stock surged 16% due to a 70% spike in subscribers for its new ad-supported tier, adding over 8 million users. This pushed the global subscriber count to 247 million, marking the largest growth since Q2 2020, a period influenced by pandemic-driven home entertainment demand. Financially, Q3 earnings exceeded expectations: projected at $3.49, they reached $3.73. Although the stock previously neared a concerning $300, positive earnings pushed it back up past the $400 level. Yet, a challenge remains: breaking the $423 resistance level from June 2018. Still, with a 7% rise in October and a 37% annual increase, the outlook remains optimistic.
NASDAQ:NFLX
by Sublime_Trading
2
💡XAUUSD: Forecast for the beginning of the week❤️ Hello everyone, hope you have a nice weekend 💡 As you know, this Friday, gold had a strong breakthrough when it was about to hit the 2,000 mark. That is completely reasonable in the context of the Middle East region being tense and investors flocked to gold to preserve their assets 💡 However, in a recent note, Fitch Solutions predicted that gold prices will average 1,950 USD/ounce this year. In addition to geopolitical uncertainty, gold is also supported “as fears of another Fed rate hike in 2023 ease.” 📌Trading strategy for tomorrow: ↗️If Gold turns around when it touches the 1974 - 1975 zone, we will buy in 1979 - 1980 ↘️ If Gold breaks the 1974 - 1975 zone, we will sell at 1972 - 1970 ‼️ Don't forget to setup Stop Loss to be safe ‼️
OANDA:XAUUSDLong
by Stone_Haven
💡EURUSD: ECB October meeting poses downside risks for EURSome EUR News 💡The ECB will hold a policy meeting next week, and market participants will closely monitor changes in economic direction and sentiment that could impact foreign exchange markets. 💡The ECB could start talks on changes to the Pandemic Emergency Purchase Program (PEPP). Any significant changes or signs of monetary tightening could impact financial markets and impact the euro and other asset classes.
Short
by Stone_Haven
4
#GBPAUD buying opportunityHello, traders and colleagues. Let's take a look at the GBPAUD chart to explore the potential buying opportunity it presents. Recently, the price broke above the 4-hour bearish trendline and subsequently followed by a bearish retracement. This short-term bearish corrective move has also introduced another trendline, which was breached earlier today, due to worst than expected news released for the AUD this morning. Currently, the price is testing a crucial level, comprising the broken trendline and a short-term support and 1H 200 EMA which could potentially prompt the price to reverse and resume its bullish momentum. If you have found this analysis helpful, please take a moment to leave a like and a comment or share your idea with me.
Long
by mohemati
5
💡 GBPUSD: Failed to break the block, turned back down💡 Stronger-than-expected UK inflation data raises the risk that the Bank of England may need to raise interest rates again or that interest rates may remain high for longer, followed by a rise in UK government bond yields . The CPI data will only put more pressure on the BOE's Monetary Policy Committee in deciding whether to continue to put pressure on interest rates to bring inflation down to an acceptable level. 💡 We can see that GBP/USD attempted a breakout but failed due to strong resistance from the 48-hour moving average on the H4 chart. On the other hand, the MACD double line and histogram bar are moving below the zero axis, which is a sign of a continued downtrend.
Short
by Stone_Haven
💡 XAUUSD: Increases sharply when economic information is mixed🔷 From last night into early morning this morning, the U.S. economy reported positive new jobless claims, but manufacturing indexes and business conditions worsened. Specifically, the number of new U.S. unemployment insurance claims last week was 199,000, lower than the previous week's 211,000 and also lower than expected by 212,000. The average number of applications for unemployment benefits over the past four weeks also fell from 206,750 to the current 205,750. 🔷 Along with the Manufacturing Business Index, the Philadelphia Fed also released data assessing the economic outlook for October, and the result was 9.2 points, down from 11.1 points in September. The data was lower than the previous month due to lower trading volumes in the US. Both the manufacturing index numbers and the poor economic outlook led to a sharp reversal in the US dollar, contributing to the rise in gold prices. Investors believe that in addition to risks arising from escalating geopolitical tensions in the Middle East, they are also concerned about worsening economic conditions in the United States, leading to a global economic downturn. So they increased their gold purchases to protect their cash flow.
OANDA:XAUUSDLong
by Stone_Haven
Bullish Trend Perspective Weekly analysis indicates a sustained bullish trend for EURUSD. Trading Strategy: Monitoring the 1-hourly chart for a potential Bullish Bat Pattern with an entry point at 1.0533. Cautionary Note: It's crucial to observe that point C touches point A in the formation of the Bat Pattern. This warrants caution and prevents me from placing a pending order to engage the trade. Remember to conduct your own due diligence and manage risks appropriately. Happy Trading!
Long
by RaynLim
#Nikkei buying opportunitHello, traders and friends. I hope you all doing well. Let's delve into NIKKEI chart and explore why we believe there may be a potential Buying opportunity. The three-wave bearish corrective nature of this downward leg, following a bullish impulsive wave we observed on the chart, suggests the possibility of another bullish move, potentially testing at least the upper boundary of our longer-term bearish trendline channel. Supportive confluences that we have observed include the inner trendline, which has acted as both resistance and support multiple times, indicating traders' awareness of its significance. Additionally, the price has reached a static support line and a demand area from above, both of which serve as important support levels. Furthermore, the price retraced around 50% of the Fibonacci level of the last bullish move. Additionally, we've observed the formation of a 4-hour bullish engulfing candle, which can be seen as a trigger for this potential buying setup. If you have found this analysis helpful, please take a moment to leave a like and a comment or share your idea with me.
SPREADEX:NIKKEILong
by mohemati
1
#EURAUD H&S pattern confirmationHello, traders. I hope you all had a great week. Let's take a closer look at the EURAUD chart, which currently appears to be forming a reverse Head and Shoulders pattern. One positive aspect of this chart pattern is that the price has formed it within a strong support zone, including the Daily Bullish trendline and the previous Daily market top, which is now acting as support for the price. You can observe both of these elements when you review the Daily time frame. The presence of a bullish chart pattern around a significant low or support area certainly enhances the likelihood of the formation moving in the expected direction. Now, to execute this trade, I would recommend patiently waiting for a retest of the broken neckline and then targeting the minimum one-to-one price target of the head and shoulders target. However, it might be a good strategy to consider taking partial profits along the way up.
Long
by mohemati
4
#GBPJPY Selling opportunityHello, traders and friends. I hope you are all doing well. Let's delve into GBPJPY and explore why we believe there may be a potential selling opportunity. As you can observe, the price has been in a bearish channel for the past few weeks, consistently reacting near the upper boundary. This pattern suggests the possibility of a repetition, offering another favorable selling opportunity. Apart from the bearish channel's upper boundary, we have additional factors supporting a bearish scenario. These include a supply area and a liquidity pool located just above the horizontal arrow line. Price could potentially move into this area, clear out liquidity, and then trend lower. For us to consider taking this position, we would need to see a fake breakout above the arrow line, followed by a failure of the price to close above it. If you have found this analysis helpful, please take a moment to leave a like and a comment.
Short
by mohemati
2
💡AUDUSD: Waiting for the next trend🟡AUDUSD had another day of decline yesterday, but bar D1 yesterday closed 1/2 and had a long lower shadow, showing that there was buying pressure around the old bottom. Although the D1 AUDUSD chart structure is flat, it shows downward pressure because the bottoms are flat but the tops are getting lower. 🟡The H1 AUDUSD chart structure at this time is cumulative sideways. AUDUSD H1 today welcomes selling from the above resistance, and can change to buying if this resistance is broken, forming a short-term bullish structure.
Long
by Stone_Haven
EURJPY The yen may continue to declineInternational Monetary Fund (IMF) officials said that the yen's depreciation could further worsen as a result of the negative interest rate policy. “As for the yen, we believe exchange rates are influenced by fundamental factors. As long as interest rate differentials persist, the yen will be under downward pressure,” said Sanjaya Panth, IMF deputy director for Asia and the Pacific. He spoke on the 14th of the month. Japanese officials are under fresh pressure to prevent further depreciation of the yen. Investors now expect US interest rates to remain high for an extended period of time, while Japan will continue its negative interest rate policy. However, the IMF believes that intervention only makes sense when there are severe market abnormalities, an increased risk of financial instability, or sudden changes in inflation expectations. Asked whether the recent depreciation of the yen had prompted authorities to intervene, he said: "I don't think there are any of these three cases."
Long
by Chart_MasterPro