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USD increased sharply, causing Gold to plummetHello everyone! Today we continue with the ongoing streak of gold price reductions, currently trading at $1818 with signs of approaching the $1800 price range. The increase in US bond yields and the strengthening of the USD continue to pose a threat and exert pressure on precious metals. Faced with pressure from the USD and US bonds, this precious metal market is facing disadvantages, leading investors to limit their holdings. The downward movement in global gold prices today is inevitable.
OANDA:XAUUSD
by AlselvSignals
Latest GBPUSD update today (October 2)GBPUSD is currently in a phase of recovery on the 4-hour chart, bouncing back from its previous decline at 1.2109. The current price stands at 1,220. It is worth noting that there is a possibility of GBP's strong recovery extending to around 1.2250 before stabilizing. However, it is unlikely that the next level of resistance at 1.2300 will be challenged. Despite exceeding expectations in terms of its recovery, GBP has not yet reached the critical resistance level of 1.2300 (which represents a significant drop from its previous high of 1.2271). Short-term price increases are not generating any meaningful momentum, suggesting that GBP is unlikely to make further gains. Looking ahead, it is anticipated that GBP will continue to consolidate and potentially trade within the range of 1.2145 - 1.2255 today.
by AlselvSignals
EURUSD maintains its downward slideHello dear readers, let's explore the EURUSD market in the new week's trading session! Currently, this currency pair is still maintaining a downward trend, currently at 1.0563. It is attempting to find a strong upward direction for itself. However, it is being hindered by the prospects of further tightening from the Federal Reserve which has boosted US Treasury bond yields and strengthened the US dollar (USD). Therefore, it appears that this currency pair will adjust downwards to lower levels around 1.0400 in the near future.
by AlselvSignals
USD/JPY now faces some consolidation in the near termThe USDJPY is currently trading at its highest level in several months, reaching 149,598 USD. This currency pair continues to exhibit strong upward movement within the uptrend channel. Looking ahead to the next 1-3 weeks, our most recent report was issued last Thursday (September 28), when the spot rate stood at 149.45. The report noted that if the USD remained above 148.55, it could potentially rise further to reach the level of 150.00. On Friday, there was a brief dip in the value of USD to a low of 148.51 before bouncing back. While there has been some easing in upward momentum, it is still premature to anticipate a significant decline in the value of USD at this time. It is possible for USD to continue moving higher from here; however, any gains are expected within a range between 148.50 and 150.50. In other words, surpassing and maintaining levels above 150 would be unlikely based on current indicators and trends in this market scenario.
by AlselvSignals
Latest Gold update today (October 2)In late September, the global price of gold dropped to over 1,866 USD per ounce, marking a decrease of almost 100 USD or a loss of more than 5% in just one month. This decline stands as the second largest monthly drop witnessed this year. The primary reason for this may be attributed to the current monetary policy implemented by the US Federal Reserve (Fed), which has set its reference interest rate at 5.25-5.5%, the highest it has been since 2001. Additionally, high inflation rates and a stronger US dollar compared to previous months have contributed to the decrease in gold prices. This week will see several significant reports regarding production and services from both the United States and European Union being published. James Stanley, senior market strategist at Forex.com, predicts that gold prices could experience a sharp decline during the first week of October due to these reports. He believes that there is no immediate evidence suggesting any fluctuations in exchange rates or selling sentiment; however, he expects that further dismantling will cease following recent substantial drops in gold prices.
OANDA:XAUUSD
by AlselvSignals
GBPUSD continues to increase after a series of days of declineHello everyone! The GBP/USD pair is currently experiencing an upward trend, demonstrating a strong recovery after a period of consecutive losses. The price of GU is hovering around 1,222, indicating positive momentum. Conversely, the safe-haven currency has been weakened due to a slight decrease in US Treasury yields and stable performance in the stock market. This situation acts as an advantage for the GBP/USD pair. Please note that the above rephrased text contains 109 words.
by AlselvSignals
Gold plunged influenced by higher inflationHello everyone! The current trend for gold prices is downward, as it has slipped below the important psychological support level of $1,900 per ounce in the early morning trading session. It is currently trading at $1,874 per ounce. Additionally, the hawkish stance of the Federal Reserve continues to push up bond yields and the US dollar, suppressing the upward momentum of metal markets. Higher inflation rates have resulted in higher interest rates, causing a significant decline in gold. It is expected that gold will slide further to $1,840 per ounce if market conditions continue on this trend.
OANDA:XAUUSDShort
by AlselvSignals
World gold reduces shock, what should be noted?Hello everyone. The price of gold on the international market has decreased by an additional 15 USD today, dropping from 1,875 USD/ounce to 1,865 USD/ounce due to the high value of this currency, with the USD Index remaining steady at 106.6 points. On the other hand, financial investors are focusing their capital on bonds and stocks, resulting in a minimal flow of money into precious metals. As a result, the world's gold price is forced to decline. In my personal opinion, gold will experience a slight adjustment today and then consider it as a resistance level that continues to push down the price of gold into a deep dip.
OANDA:XAUUSD
by AlselvSignals
Gold promises to drop to the 1800 USD markHello everyone! The price of gold at the beginning of the week is still declining and is currently trading at $1843 per ounce, a decrease of $5.2 compared to the previous session. This decline can be attributed to negative market influences, such as the continuous rise in the US dollar index, which has now surpassed 106 points. Additionally, the yield on US bonds continues to increase, causing global markets to be concerned about rising inflation. Despite supportive economic data, these current circumstances make it difficult for gold to reverse its downward trend. It is expected that gold will experience slight profitability this week ahead of the release of non-farm payroll reports for September, scheduled for Friday morning.
OANDA:XAUUSD
by AlselvSignals
2
USD/JPY hit an 11-month high at 149.00As widely expected in the market, the Federal Reserve (Fed) chose to maintain interest rates in the 5.25-5.50% range during its meeting on Wednesday. This decision creates an opportunity for USD JPY to continue to shine. However, Fed Chairman Jerome Powell, in a subsequent press conference, reiterated the Fed's commitment to achieving its 2% inflation target. Powell also mentioned that the Fed is ready to raise interest rates if necessary, posing a new challenge to USD JPY and asking for cautious movements in this currency pair. Technically gold is in an uptrend and this pair has created a large candle at 149.08. It is expected to adjust at least to the regulatory level and then decrease to the regulatory level.
Short
by AlselvSignals
USDJPY futures bearish?Greetings, beloved companions. The situation remains relatively unchanged for the European Union today, as the currency pair is persistently displaying a bearish trajectory. This can be attributed to the firm position taken by the Federal Reserve (Fed) and indications that the European Central Bank (ECB) may refrain from implementing any further interest rate hikes. At present, this prominent pairing is being traded at approximately 1.0563, experiencing a decline of 0.09% within this day. In my personal estimation, it seems plausible that this particular currency pairing will only witness an upward movement in the immediate future. However, it is anticipated that a slight decrease will occur subsequent to reaching its designated level.
Short
by AlselvSignals
4
Update USD/JPY today September 28Greetings to all my friends! The USDJPY pair is maintaining its strong position and has reached a trading threshold of approximately 149.37. However, it is currently experiencing a slight decline, trading at 139.30. This can be attributed to the US Dollar Index (DXY) reaching a 10-month high of around 106.20, thanks to the Federal Reserve tightening monetary policy in order to ensure price stability. Such actions by policymakers could potentially impact the pair and lead to further declines. Based on my personal opinion as an admin, I believe that there might be a slight adjustment in price as it searches for its bottom level before rebounding upward again with support from that level.
by AlselvSignals
UJ needs more momentum to move towards 150.00Greetings to all! Currently, the USDJPY pair is maintaining its upward trajectory and is presently engaged in a horizontal trading pattern at 149.11. The Japanese Finance Minister, Shun'ichi Suzuki, has reiterated that the government will take measures against the recent depreciation of the Japanese Yen (JPY), which is benefiting this currency pair. However, in terms of long-term prospects, this particular pairing still faces challenges from a psychological resistance level situated at 150.00. It is not currently feasible to surpass the resistance level of 149.72 due to the absence of a specific target set by the government to trigger currency intervention for JPY. Nonetheless, there's no need for concern regarding market psychology at present since buyers will continue to provide support. Consequently, it's expected that prices will correct themselves back towards previous levels and successfully surpassing the resistance level of 149.6 will pave a path for further increases in USDJPY prices.
by AlselvSignals
EUR/USD holds near 1.0650Hello traders, what do you think about EURUSD? Currently, the EURUSD market continues to maintain a downtrend but has gradually turned to a sideways trend and reached a trading level at 1.0645 during the European trading session on Monday. Data from Germany and the euro zone showed private sector business activity contracted at a softer pace in early August than in July. HCOB composite PMI increased to 46.2 and 47, respectively. 1 in Germany and the Eurozone. These figures failed to give a notable boost to the Euro but helped it hold its ground. If we escape this trend, the possibility of the EU moving forward is completely feasible.
by AlselvSignals
EUR/USD continues to stay low below 1.0600Hello traders, what do you think about EURUSD? The pair is currently at 1.058. The pair remains weakened by the ongoing uptrend in the US Dollar along with US Treasury yields based on the Fed's higher long-term interest rate stance. EUR/USD fell below 1.0600 for the first time in months, breaking key support at 1.0630. With prices below that level, further losses are likely. The daily chart shows the pair heading towards the area between 1.0510 and 1.0530, which represents the February and March lows. On the 4-hour chart, support around 1.0560 could trigger a recovery. The 1.0600 and 1.0630 levels have now emerged as suitable resistance levels. A fall below 1.0550 could result in increased volatility and possible downside acceleration
Short
by AlselvSignals
EURUSD Analysis: Decline extendedGreetings, beloved acquaintances. There have been minimal alterations in the European Union (EU) today, as the pair continues to adhere to a downward trend. This can be attributed to the Federal Reserve's (Fed) hawkish stance and indications that the European Central Bank (ECB) may abstain from implementing any future interest rate hikes. Presently, the major currency pair is being traded at approximately 1.0563, experiencing a 0.09% decline throughout the day. In my personal viewpoint, this particular currency pair has room for growth in the short term. Nevertheless, a slight decrease is anticipated subsequent to reaching its designated level.
by AlselvSignals
EURUSD recovers from lossesHello dear friends! Today, the EURUSD is experiencing a strong recovery and is currently trading around the 1.058 level. The strong recovery following the lowest daily close of the year so far has improved the prospects for the Euro, although the overall trend is still downward. However, a potential prolonged recovery to around 1.0700 could occur due to support from a correction in the US Dollar, which has temporarily paused after an extended period of gains, creating favorable conditions for an increase in value for the EU. And what do you think?
by AlselvSignals
Is GBPUSD expected to decrease in the near future?The British Pound (GBP) maintained its downward trajectory today, influenced by the UK's economic deceleration and the surging yields of US Treasury bonds. These factors have bolstered the strength of the US Dollar (USD) and consequently caused further depreciation in GBP/USD exchange rates. Anticipated additional declines are expected for this currency pair due to the Bank of England's decision to temporarily halt its interest rate tightening efforts, which has subsequently led to an increase in consumer expectations for inflation.
Short
by AlselvSignals
7
Gold prices plummeted before the recovery of the USDThe current price of gold in the international market is hovering around $1,897.9 per ounce, which is a decrease of $3 per ounce compared to this morning. The recent monetary policy meeting of the Federal Reserve (Fed) indicates that their stance will continue to be a catalyst for pushing bond yields and the US dollar higher, putting significant pressure on precious metals and acting as the main factor influencing gold prices. Analyzing the 4-hour chart, Gold has declined without finding support at the $1900 level. It would not be surprising if gold continues to test lower levels below $1888 as it is a strong support level that suggests potential price recovery from this point.
by AlselvSignals