Gold is burning with the weekend transactionHello dear friends!
The trading week is coming to an end, and how has your trading been? Karina hopes that everything you're doing is going well!
Now, here are some analyses from Karina about today's market.
Regarding the information impacting gold:
- Conflict in the Middle East
- Speech by the Fed Chairman on the 19th/20th
The results of the information:
- The ongoing and escalating conflict in the Middle East has led traders and investors to seek safe-haven assets like gold, causing a significant increase in gold prices.
- Federal Reserve Chairman Jerome Powell expressed support for stable interest rates in his speech on Thursday and reduces pressure on gold prices.
From the technical analysis chart:
- Gold is trading at its highest price in two weeks, reaching a trading level of $1990. The two main resistance levels at $1945 and $1980 have been easily surpassed.
- The upcoming target price is $2018, but it is necessary to check for a lower level confirmation to establish a high peak. Additionally, the price is moving away from the EMA zone, and when trading too far from the EMA, it tends to return to the previous range of activity.
Therefore, according to Karina, the price will increase in the coming week with a small price decrease that serves as an adjustment before officially forming an upward trend. Karina emphasizes a price level of $2050.
What about you? What are your targets and thoughts on gold?
Intradaytrade
Gold price promises a new high level in the near futureDear beloved friends,
Currently, the price of gold is experiencing an upward trend, reaching above the threshold of $1,900 per ounce in the trading session on October 13th. It has closed at its highest level in three weeks, driven by the escalating tensions in Israel, which have increased the demand for gold as a "safe haven" during times of uncertainty.
As the Federal Reserve (Fed) is nearing the end of its tightening cycle, the resistance that monetary policies have exerted on gold throughout most of 2023 is starting to weaken, presenting an opportunity for gold to rebound.
From the analysis chart:
Gold is showing signs of breaking the downward channel, with a breakout at the $1,932 level. Additionally, the trendline continues to provide support for the precious metal. It is expected that a price increase may continue this week, with long-term targets set at $1,960 and $2,015.
What are your thoughts and ideas about the upcoming gold price?
USDJPY increasingly tense.Hello dear friends, Currently, USD JPY is trading extremely tense as it approaches the 150.000 area. At the time of writing, UJ is trading at 149.897 and still rising.
The question we pose today is whether this currency pair can overcome this strong resistance level or not?
From a personal standpoint, Karina still holds a high possibility that UJ will be able to surpass this resistance level of 150.000. The evidence is that it continues to rise steadily, although not too prominent, but enough to demonstrate the strength of this currency. Additionally, the EMA 34 still maintains its position above the EMA 89, further reinforcing the upward trend.
The issue that remains to be resolved for the question about UJ is only a matter of time. What do you think?
EURUSD can break through the channelDear friends, in general, EURUSD continues to show a range-bound movement. Looking at the technical picture of EURUSD on the 4-hour timeframe, we can see that it has formed a flag pattern and is currently facing resistance at the 1.0550 level. Currently, EU is trading around the support zone of 1.052 with a slight recovery. However, in the short term, after rising to the descending trendline, it will likely be quickly rejected. If the current support level is broken, there is a high possibility that EU will not be able to turn around.
What about you? Do you agree with this analysis?
Gold increased slightly in the last session of the weekDear friends, Today, Gold rose nearly $30 due to escalating conflicts in the Middle East and the possibility of the Fed halting interest rate hikes, just as predicted yesterday. As a result, financial investors are concerned about the risks and have started selling stocks.
Consequently, the US and European stock markets are engulfed in red. The Dow Jones index plummeted by 250 points, the S&P 500 dropped by 36 points, and the Nasdaq declined by 128 points. Many stock investors continue to shift their capital into precious metals to preserve their funds. It is inevitable that the price of gold will rise.
At the time of writing, Gold is trading around $1971 - $1982. It can be seen that Gold is trading relatively calmly with a stable accumulation level. It is expected that the price of Gold will increase to $2010 in the near future due to the stability of the trend on the 1-hour time frame.
Gold - increased higher for a longer timeThe price of Gold reached a new high in 4 weeks at $1,943 on Wednesday before entering a consolidation phase. Despite a slight decline, the Gold price remains steady around $1,930, currently trading around $1,935.
Gold traders are anticipating a series of speeches from the Fed for the next price hike, preparing for Federal Reserve Chairman Jerome Powell's speech on Thursday.
The next resistance level is seen at the highest point on September 20th at $1,947, above which the highest point on September 1st at $1,953 will be tested.
A sustained upward move beyond this level could trigger a new upward trend towards the $1,970-$1,980 range.
If Gold fails to find solid ground at $1,930, a retracement to the support level of $1,923 is likely to occur.
Further south, sellers will be eyeing the previous day's low of $1,912.
The impact of war on goldHello everyone,
Precious metals experienced a slight correction today, with a decrease of $20 or -1.04% compared to the previous trading session.
Gold price forecast:
14 Wall Street analysts participated in Kitco News' gold survey. 72% of the analysts expect gold prices to increase in the near future, while 14% predict a decrease and the remaining 14% believe prices will remain stable.
From the analysis chart:
In the short term, gold may test the support level at $1900. The hope is that it will find support at this point and then rebound.
Gold continues to follow the buffalo marketDear friends, today Gold continues to rise strongly due to its close relationship with the rapidly increasing oil prices. The price of Brent crude has reached over $92 per barrel, while WTI crude has surpassed the $88 per barrel mark.
At the time of writing, Gold is trading around $1948 - $1950. It can be seen that Gold is trading relatively calmly with a stable accumulation level. It is expected that the price of Gold will increase to $1980 in the near future, thanks to the stable trend on the 1-hour timeframe.
What are your thoughts on the future of Gold?
Gold formed the price increase sample ?Hello dear friends.
Today, gold continues to trade steadily around the price range of $1915 after experiencing a strong increase last Friday.
From the observed 4-hour chart, we can see that the "Cup and Handle" pattern has formed. It is expected that a slight price decline will occur if the pattern is completed, followed by an anticipated increase with Karina's target set at $1980.
What are your thoughts on the market today and for this week?
Gold continues to increase the price stronglyHello everyone ! Yesterday, gold experienced a significant price increase and is currently trading at $1940, up approximately 0.08% from the previous day's trading session.
Reasons supporting the rise in gold:
- Firstly, after the retail sales report yesterday, investors are concerned that the Federal Reserve (Fed) may raise interest rates further, leading to a stronger US dollar and potentially impacting economic growth.
- Secondly, political tensions in the Middle East continue to escalate and intensify.
Result:
- The trend of buying gold as a safe haven for investors continues to increase, with gold experiencing a strong surge and showing no signs of slowing down.
Expected gold prices in the near future:
- Recently, there have been indications that the Federal Reserve may not raise interest rates in its upcoming meeting at the end of this month. This is also a factor driving gold prices higher.
- The market will be influenced by today's news and an important speech by the Fed chairman on October 19th.
Technical analysis:
Gold continues to trade above both the EMA lines, with the EMA 34 signaling a bullish trend in the upcoming period. The price is approaching the $1950 mark, with the next target being $1970 if the market situation continues to follow this development momentum.
GOOD LUCK TO YOU !
GBP/USD hovers below 1.2150 after retracing recent gainsHello traders!
On the last trading day of this week, the GBPUSD market continues to lack significant breakthrough movements, with prices remaining relatively stable. However, this currency pair is facing upward pressure from the weakened US Dollar (USD) following comments made by Federal Reserve Chairman Jerome Powell.
With the current support level at 1.210, a potential uptrend may occur, although it could be short-lived if it encounters resistance at 1.217. The downside target for the retreat is set at 1.205, according to the trendline.
BTC breaks through falling channel, long-term increase?Hello dear traders!
BTCUSD is emerging as a focal point for investors seeking growth opportunities and capital preservation. Currently, BTC is trading at $28,079. It can be seen that this currency pair is recovering after breaking free from the psychological barrier with a downward channel pattern. It has made a breakthrough at $27,734.
The current environment is supportive of BTC's upward prospects, and my price target is $29,250, breaking through the strong resistance level at $28,585.
BTC continues to dance if it holds 28,000 USDHello dear friends!
Today, the BTC is holding its price increase well after surpassing the resistance level of 28,000. It is currently trading at around 28,475 USD.
On the upside, the immediate resistance level is near 28,550 USD. Additionally, there is a short-term narrowing triangle forming with resistance near 28,500 USD on the 1-hour chart.
The next important resistance level could be near 29,000 USD. A clear move above the 29,000 USD resistance zone could generate a larger upward momentum. The next important resistance level could be 29,500 USD.
USDJPY receives strong supportHello all of you! Let's explore the market with Alselv.
Currently, the UDJPY pair is consolidating its price increases after trading sideways for several days. It is currently trading at 148.87 USD. In the long term, the pair is expected to increase due to positive risk sentiment caused by the conflict in the Middle East. EU buyers are pushing the price up to 148.92 USD, with an anticipated increase to 150.00 USD.
What are your thoughts?
BTCUSD retreats to the target of $ 30,000Dear friends, it appears that BTC continues to rise as predicted, reaching an estimated 29,000 USD and currently trading at 29,215 USD.
Digging deeper into specific details, if the price violates the 28,550 USD level, analysts believe it could act as a catalyst for further price fluctuations.
On the other hand, maintaining this upward momentum for BTC almost guarantees that the leading cryptocurrency will aim for the coveted 30,000 USD mark. Analysts conclude that predicting a peak around 30,650 USD is not unrealistic given the growth trend.
USD/JPY update today, long -term analysisDear friends, currently, there is no change in the USD/JPY compared to yesterday's session. The downside of this currency pair may be limited due to the increase in US Treasury bond yields. At the time of writing, the USD/JPY is trading around 149.76. It is expected that the USD/JPY pair will continue to rise towards 150.00 and potentially reach the high level of 150.50 in the near future.
What are your thoughts on the future of USD/JPY?
USDJPY : Bullish potential seems intactHello dear friends!
Currently, the recent recovery of USD/JPY has stalled as it fluctuates around the strong resistance level at the psychological mark of 150, not far from the highest level of 152.00 in 2022. However, there are no signs that could cause USDJPY to reverse and decline significantly.
Furthermore, this currency pair is receiving support from a series of optimistic economic data from the United States (US).
From an analytical perspective:
The price consolidation formed over the past few days is gradually narrowing and could be broken at any time, with the current target still being evaluated as 150.000. Breaking through this strong resistance level would be a very powerful upward move.
USD JPY: Continuing efforts to raise pricesHello dear friends!
It can be seen that in the past few days, the expectation for USDJPY to surpass the 150.000 level has not been realized yet. The trading and movement trend of USDJPY seems to have become quieter when faced with this strong resistance level.
This is clearly reflected on the chart as the Bollinger Band is gradually narrowing, indicating that the price is likely to move sideways within a narrow range of 149.41 - 149.90 in the near future.
However, Karina still maintains her view that USDJPY will have the potential to break through the 150.00 resistance and continue to develop. What about you? Do you agree with this viewpoint?
GBP/USD : extends losses Hello dear friends!
Today, GBP/USD continues to suffer losses for the second consecutive day, trading at lower levels around 1.230 during Wednesday's trading session. Optimistic economic data from the United States has put pressure on the currency pair, causing it to decrease and trade at 1.219 at the time of writing.
It can be seen that GBPUSD has made efforts to increase in price, but it seems that the upward momentum has not materialized. Instead, the downward trend continues. Currently, the EMA on the 1D timeframe still indicates a negative trend in price decline. The current resistance level is at 1.231, with the target for this price decrease still highly regarded at 1.200.
What are your thoughts on the upcoming movement trend of GU?
Gold increased sharply, exploded every hourHello dear friends!
Yesterday gold received important information from the speech of the Fed chairman, and gold reacted strongly as prices continue to rise and are currently trading at $1878, achieving our previous target of $1970.
The recovery of the precious metal is supported by the decline of the US dollar (USD) after Fed Powell's cautious comments, and gold has become a safe haven for investors.
From the analysis chart:
The downward trendline has been completely broken, establishing a new upward trend. Currently, gold is operating at a strong resistance level at $1980. If it can break through this resistance level, there is a significant possibility of further price increase. Additionally, the EMA signal is gradually turning bullish, confirming the target price increase. The current support level is at $1945, and Karina has set her targets at $2018, $2035, and finally the peak of $2050.
What about you? What are your goals?
Stable trading EURUSD waiting for new news!Hello dear friends!
Today, EURUSD continues to trade quietly around the resistance area of 1.0577, and it seems that there is no clear trend in place for the day.
However, from the chart analysis, Karina noticed that the price of EURUSD is gradually narrowing along with the movement within the range of the EMA 34 and 89. Therefore, the price is not expected to change much in the near future, with trading anticipated to be within the range of 1.060 - 1.052.
A breakout could lead to significant changes for EURUSD, but it is unlikely to happen this week. What do you think, will EURUSD rise or fall?
BTC and the pennant pattern, continue to increase in priceHello dear traders! BTC today continues to rise as predicted.
BTC is currently forming a pennant pattern with consolidation range on the 1H timeframe, currently trading around $28,506. The next resistance level is at $28,800.
Breaking out of this pattern will propel this currency pair towards the resistance level. A clear move above this resistance zone could provide even stronger momentum, with an expected increase to $29,196.
Latest GBPUSD update todayHello dear friends!
After many days of effort, Gu has officially returned to his decrease trend with Breakout from the uptrend in 1,223, currently GPBUSD is fluctuating at about 1,2168 with a short recovery. It is likely that after reaching the target at 1,2216 (coinciding with the operational range of EMA 34 and 89), this decline will occur strongly with the goals for this decline is 1,210 and respectively. 1.203.
What is your thoughts on the upcoming market?