ConanTradingFX

ConanTradingFX Updated 

Dear traders, Conan here! Today, gold is in a strong uptrend after all the attempts of the bears failed to reclaim the $2600 level, the price has started to increase and is currently at $2650. The increase is mainly due to the 80% chance that the Fed will tend to cut interest rates by 25 basis points in November, while there is a 20% chance that interest rates...

ConanTradingFX Updated 

Hello all traders! Overall, a lackluster start to the week saw the EUR/USD pair extend its decline, falling below the 1.0900 mark and recording a fresh two-month low near the key 34-day Simple Moving Average (EMA). As such, the US Dollar (USD) continued its rally, pushing the US Dollar Index (DXY) to a fresh multi-week high above 103.00 on persistently high risk...

ConanTradingFX Updated 

Conan, hello everyone! Today, the price of gold continues to break records by maintaining a new peak around $2700, and the growth trend seems to show no signs of slowing down this year. Notably, this week, the European Central Bank held a meeting and officially decided to cut interest rates for the third time this year, with a reduction of 0.25 percentage...

ConanTradingFX Updated 

Hello everyone, what do you think about the gold price? Today, the gold price is on an upward trend, after the buyers previously completed conquering the highs at 2661 -2700 - 2720 respectively, the price has started to increase and is currently trading at a new high of 2721 dollars. This increase is due to the fact that the two largest and second largest...

ConanTradingFX Updated 

A recent Kitco News survey shows a broad sense of optimism about the gold price outlook. The majority of experts (94%) predict further price gains, while only one analyst (6%) sees no significant change. However, gold’s ability to maintain its value may be challenged by concerns about the US dollar, which could see demand revive as the ‘Trump rally’ is revived....

ConanTradingFX Updated 

EUR/USD is currently hovering around 1.0860 after an earlier rally, with stability in the Asian session. Notably, concerns about the possibility of a Federal Reserve rate cut in November have been dismissed, as recent data suggests that the US economy is still recovering. On the 1D chart, we can clearly see that after the price fell out of the uptrend channel and...

ConanTradingFX

Conan, hello everyone. Today, EUR/USD is maintaining its initial bullish bias below 1.0800, after closing the session with a steady gain above the intact bullish channel. The pair is supported by optimism over China's stimulus measures and a broad correction in the US dollar, which helped reverse the decline caused by the ECB's dovish decision. On the other...

ConanTradingFX Updated 

Hello 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...

ConanTradingFX Updated 

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...

ConanTradingFX

Hello 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...

ConanTradingFX

Conan, 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...

ConanTradingFX

Hello 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...

ConanTradingFX

Hello traders! Today, GBP/USD made an impressive reversal above 1.3000 on Monday, as the market turned cautious ahead of a slew of important economic data from the UK due for release this week. The wage and employment reports will kick off on Tuesday morning, followed by notable CPI and PPI figures on Wednesday. Technical analysis shows that GBP/USD remains...

ConanTradingFX

Dear Friends. Today, gold is trading around $2649 and is little changed from the same time yesterday. Accordingly, gold prices have fallen after hitting an intraday high of $2666 on Monday as China's stimulus measures failed to save financial markets and the greenback continued to rise. However, when looking closely at the 2-hour chart, the technical picture is...

ConanTradingFX

Hello dear friends! As we predicted, GBP/USD fluctuated and fell sharply until 1.302 and completed the sell target as mentioned earlier. However, the price quickly reversed and stabilized around 1.306. The upside momentum of GBP/USD may be limited by the sustained strength of the US dollar, due to the geopolitical risks looming around the world and concerns...

ConanTradingFX

Hello traders! Today, EUR/USD continued its downtrend for the fourth consecutive session, hovering around 1.0920 during Asian trading hours on Monday. The Euro faced downward pressure as the European Central Bank prepares for its monetary policy decision on Thursday. Looking at the technical chart, the pair remains in a downtrend, but selling pressure has...

ConanTradingFX

With positive signals from the breakout of the downtrend channel and the support of the EMAs, gold (XAUUSD) is showing a great opportunity for investors. If the price continues to hold above the $2,636 zone and breaks out above the $2,665 level, we can expect a strong rally to $2,680 and beyond. Trading recommendation: Investors can consider buying orders when...

ConanTradingFX

Dear friends, XAUUSD continues to gain some recovery momentum as it has reclaimed 2600, but the main trend and the long-term trend are still moving sideways. Currently, the price is approaching the psychological level of 2650 and at the same time is approaching the limits of the Bollinger Bands. A downside correction is expected when the pair reaches the level,...