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Gold price today (October 16)Hello Traders! Last week, we witnessed a fantastic performance by gold as it surged to a remarkable high of $1932 and broke out of its downward channel. Today, at the start of the precious metals trading session, there is a slight dip as prices test the breakout level, currently trading around $1919 - $1920. However, the current environment and global situation continue to support an upward movement in gold, so it is highly likely that we will soon see new higher price levels in the near future.
OANDA:XAUUSD
by Nolan_Signal
Gold emerged as a new breeze, the price increased sharply?Hello traders, Last week, gold witnessed its best weekly gain since March as the demand for safe-haven assets continues to rise amid the ongoing Israel-Hamas military conflict. In the current politically unstable environment, investors are flocking to gold. Additionally, the US tightening its sanctions on Russia's crude oil exports on Friday led to an increase in oil prices, reaching $90 per barrel. As oil prices continue to rise, gold's role as a safe-haven asset against inflation becomes even more beneficial. At the time of writing, gold is trading at $1912 per ounce.
OANDA:XAUUSDLong
by Nolan_Signal
2
EUR/USD trades with mild positive bias above 1.0500 markHello dear friends! Last week, EURUSD experienced a significant short-term recovery, but quickly returned to its previous downward trend, currently trading at a low level not seen in months at 1.0521. From the analysis chart, it can be observed that the prolonged downtrend channel has not been broken yet. Although there is some short-term recovery, it is still not enough momentum to break free from the downward trend. Therefore, it is expected that this week will continue to be a prolonged downtrend with limited fluctuations ranging from 1.0639 to 1.0323. The important levels to consider are: - Resistance levels: 1.063; 1.055 - Support levels: 1.050; 1.049; and 1.046.
by Karina_Bella
Will BTCUSD rapidly decrease in the near future?Hello dear friends. Today, BTCUSD continues to decline as predicted. After breaking the uptrend at 27.549, BTC on the 4H timeframe is consolidating at 26.834 at the time of writing. Therefore, there is a possibility of recovery in the near future. However, the downward momentum is still dominant in the coming time, so BTC will quickly decrease to the support level at 26.383. Surpassing this level will push BTC to continue seeking lower support at 26.188. If you find this article helpful and useful, please leave a like and follow to receive the latest updates. I would greatly appreciate it.
BITSTAMP:BTCUSD
by AlselvSignals
4
EURUSD surveys fresh declinesHello dear friends! Currently, Eurusd has broken out of its upward trend and is showing signs of a slight correction in the near future. It is currently trading at 1.0546 with a potential adjustment level of 1.0558. This downward trend is expected to continue, with a projected decrease to 1.0460. If you find this article helpful and informative, don't forget to leave a like and follow to receive the latest updates from my articles. I would greatly appreciate it.
Short
by AlselvSignals
7
GBPUSD consolidates gainsGBPUSD continues to maintain its upward momentum, trading around 1.2294 with an expected increase to 1.2400. The reasons for this upward trend may be attributed to the decrease in US bond yields and positive risk sentiment, weakening the USD and supporting GBP. Sustaining this upward movement will likely push the currency pair towards a strong resistance level at 1.2293. By surpassing this resistance and building on the strong upward trend, the pair could potentially reach a high of 1.2585 USD.
by AlselvSignals
2
GBPUSD rises short-term, future promises low?Hello dear friends! GBPUSD has ended its upward trend after breaking out of the ascending channel at 1.2250. Currently, the price is trading at 1.2203 as of the time of writing, with a slight adjustment within the descending channel. On Thursday, data showed that the US Producer Price Index (PPI) increased in September compared to the same period last year, rising from 2.0% to 2.2%. The core PPI also increased to 2.7% from an expected loosening of 2.3%. Due to this reason, in the near future, this pair will face challenges from optimistic economic data from the US. The target for this decline is set at 1.2119 and lower at 1.0600. If you find this article interesting and helpful, please leave a like and follow to receive the latest updates from me.
by AlselvSignals
Gold increased violently, starting from 1880 USD?Hello dear traders! Gold today increased as predicted to nearly $1880. Gold is trading steadily due to the decrease in US Treasury yields caused by the latest FED meeting minutes. The 1-hour chart shows that after breaking out of the sideways movement last week, Gold made a significant jump to reach $1876 and continues its upward trend, currently trading at $1877. From a personal perspective, Gold is expected to reach $1900 after touching $1880 today and then face resistance at the previously broken support level before the trend continues. If you found this article helpful, please leave a like and follow for the latest updates.
OANDA:XAUUSDLong
by AlselvSignals
6
Gold Heads to Test Resistance, What Happens Then?Gold continues to extend its upward trend today, currently trading at $1880. After the overnight PPI, the precious metal has gained buying interest, leading to a significant increase in gold prices during yesterday's trading session. Additionally, as the value of the US dollar declines and bond yields decrease, many investors have increased their demand for gold. In the near future, the gold market may test the resistance level at $1877 before potentially returning to a support level, as the US prepares to release the Consumer Price Index (CPI) for August 2023 on the morning of October 13th. The CPI can have an impact on the currency market and influence the direction of gold prices.
FXOPEN:XAUUSD
by AlselvSignals
5
Gold maintains downward momentum, long-term analysisHello dear friends! Gold continues to decline as predicted, since the time of writing, gold is trading at $1872. Last night, the US announced that the Consumer Price Index (CPI) increased by 3.7% year-on-year, higher than the forecasted 3.6%. However, the core CPI, which excludes food and energy prices, decreased from 4.3% to 4.1%, meeting market expectations. Inflation in the US is decreasing, and a strong job market will encourage the Federal Reserve (FED) to raise interest rates in November 2023 and maintain high rates for a longer period. Due to this reason, gold sellers continue to push prices down, with an expected decrease to $1800. This downward trend will persist until any positive developments occur that lead to an increase in prices.
OANDA:XAUUSDLong
by AlselvSignals
4
AUDUSD has not been able to get out of the discount trendHello dear friends! Today, AUDUSD has not been able to end its downward trend as it touched the weekly low at 0.632. As a result, the escalating political tensions in the Middle East will continue to drive capital flow into safe haven assets, which is disadvantageous for risk currencies like the Australian Dollar (AUD), causing its value to decrease. From the technical analysis chart: After forming a double top at 0.689 and breaking out at 0.670, AUDUSD has consistently encountered obstacles. Currently, a bearish trend is forming and the price range is gradually narrowing. It is expected to have a slight price increase this week before breaking the range at 0.624 and continuing to decline further. What about you? Do you agree with this opinion or not? Please comment and share your thoughts!
by Karina_Bella
4
How was the first gold trading at the beginning of the week? Hello dear friends, it's great to meet again and chat in a new trading week! Currently, the price of gold is slightly decreasing this morning, with gold trading at $1920, down about $12 from the previous trading session. Last week, the gold market witnessed an impressive surge as the price of this precious metal increased by over $60 per ounce, thanks to strong safe-haven demand both at the beginning and end of the week. The decrease in US Treasury bond yields, weakening US dollar, and ongoing political instability continue to be factors driving the upward momentum of gold. Regarding the gold price outlook for this week, market analysts and retail investors alike expect gold to continue its upward trajectory, with a target price of around $1950 by the end of October 20th, followed by further breakthroughs. What are your thoughts? How do you think the gold market will move? Leave your comments below!
OANDA:XAUUSDLong
by Karina_Bella
2
EUR/USD advances to mid-1.0500s on softer US DollarHello dear friends! Today, with the stronger US dollar, the EUR/USD pair has been pushed down from its weekly high of 1.0630 to 1.0520. Economic data from the United States reflects that the fundamental factors still support the Greenback and combined with higher interest rates, it has put downward pressure on this currency pair. The reversal of EUR/USD is occurring near an important resistance level, marking a break below the lower limit of the upward channel. Technical indicators on the 4-hour chart indicate that the exchange rate will continue to decrease, but the pair is currently near the support level of 1.0520. Below that area, the next support level is 1.0500. If consolidation occurs below the 1.0490 level, it will increase selling pressure and reveal a level of 1.0460, slightly higher than the lowest level in October.
Short
by Karina_Bella
10
GBP/USD retraces the recent losses near 1.2150Hello traders! Today, GBP/USD is recovering from recent losses, trading higher around the 1.2150 level in Monday's trading session. This currency pair may face challenges due to potential changes in discussions about the trajectory of the monetary policy by the Federal Reserve. If GBP/USD fails to hold above 1.2200, sellers may show concern, and temporary support seems to have formed around 1.2170 before 1.2130 and 1.2100 (psychological and static levels). On the other hand, if 1.2200 is confirmed as support, GBP/USD could extend its recovery towards 1.2250 and 1.2300 levels.
by Nolan_Signal
Gold price skyrocketed after a day Hello traders! Yesterday, gold experienced extremely strong breakthroughs, easily surpassing the barriers at the 1888 and 1900 USD levels. Currently, gold has closed its trading with a rapid price jump, pausing at 1932 USD and increasing by approximately 3.40% in a day. The upward momentum is still showing no signs of cooling down, with strong support at 1890 and 1905 USD. The price target of 1970 USD is highly regarded for this price surge.
OANDA:XAUUSDLong
by Nolan_Signal
GBP USD: Back to the downtrendHello traders! At the end of the GBPUSD trading session, the pair has continued its downward trend since breaking out of the previous uptrend at 1.2758. Currently, the price is consolidating at 1.2146, following a downward channel. Furthermore, the reversal signal from the EMA reinforces the bearishness of this decline. It is anticipated that the support level for this decline will be around 1.1816, with current resistance at 1.2305. What are your thoughts on this article? Feel free to leave your comments below!
by Nolan_Signal
Gold increased breakthrough day by day.Hello traders! Gold had a significant volatility last week. It can be observed that with the Federal Reserve's tightening cycle coming to an end, the resistance that monetary policy has exerted on gold throughout most of 2023 is beginning to weaken, creating opportunities for the market to continue its breakout. As predicted earlier by Nolan, gold has indeed broken out of the downtrend channel with a breakthrough at $1915. Therefore, the price increase has been established, and in this case, my target will be a new high at $1980 and a long-term target at $2050.
OANDA:XAUUSDLong
by Nolan_Signal
Gold recovers stably, outlook analysisHello everyone! Currently, the price of Gold has seen little change compared to the beginning of the week. It is currently trading at $1863 per ounce. Gold has been trying to accumulate since hitting a support level of $1810. Instead of sellers pushing it down to $1800, the support level at 1810 is now seen as a significant level for Gold. The ongoing Israel-Hamas conflict may encourage investors to turn to safe-haven assets like gold during this period. The duration and intensity of the conflict will largely determine this outcome. Stay updated on gold news today and tomorrow! Hopefully, it will be a favorable development for gold prices.
OANDA:XAUUSD
by AlselvSignals
15
EURUSD continues to maintain a discount trendHello dear friends. Currently, EUR USD has ended its trading session for the week at a halt of 1.05067. It can be observed that after several days of attempting a recovery, EURUSD is once again returning to a downward trend as the upward trend chart has been broken with a breakout at 1.0588. With the current trend, it is likely that a further price decline will continue next week, with the current resistance level at 1.0541 and support level at 1.0500. My target will be a price reduction to 1.045. If you find this information helpful and useful, please leave a like and a comment for Karina! I am delighted to receive contributions from you.
by Karina_Bella
Gold today: There are signs of discountHello everyone! After several consecutive days of gains, the price of gold today, October 13th, experienced a decline as inflation data in the United States cooled down, causing the US dollar and US bond yields to rise. Global information: The US announced that the Consumer Price Index (CPI) on a yearly basis increased by 3.7%, higher than the forecasted 3.6%. However, the core CPI, which excludes food and energy prices, decreased from 4.3% to 4.1%, meeting market expectations. With inflation in the US declining and a strong job market, it is expected that the Federal Reserve (FED) will raise interest rates in November 2023 and maintain high interest rates for a longer period. Result: The value of the US dollar surged after these announcements. The yield on the 10-year US bond rose to 4.65%, while the 2-year bond reached 5.07%. Under the pressure of the US dollar and US bonds, speculators are concerned that the price of gold will plummet after reaching $1,885 per ounce. Therefore, they took the opportunity to sell and make a profit. As a result, the global price of gold today dropped by $15 to $1,870 per ounce. Forecast: Using Fibonacci retracement, gold has reached the perfect level at 0.618, indicating a potential decline with successive levels of decrease at $1,869, $1,849, and $1,838.
OANDA:XAUUSDShort
by Karina_Bella
4