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Gold updates and analysis todayGreetings everyone! At present, gold appears to be exhibiting less volatility as it is primarily focused on moving in a sideways direction, with its current trading value standing at 1826 USD per ounce. While the global gold market this morning neared yesterday's price level, it has experienced a notable decline in comparison to its previous surge. According to the latest report, there has been a notable increase in buying pressure within the gold market. The recent data indicates that the US labor market is displaying signs of slowing down, with last month's creation of private sector jobs falling significantly short of expectations. Traders are presently eagerly anticipating the release of the September jobs report from the US Department of Labor on Friday. It is anticipated that this will bring positive news for gold.
OANDA:XAUUSD
by AlselvSignals
Potential to increase EURUSD?Greetings, traders! Following a substantial reduction, the EURUSD pair concluded its session at a low of 1.045 and is presently being traded at 1.058. Examining the technical analysis on the H4 timeframe for EURUSD reveals an upward trend, suggesting that there is potential for further price appreciation in the near future. As long as this currency pair continues to maintain its current upward movement, it is highly probable that it will experience strong buying pressure around the 1.065 and subsequently 1.073 price levels.
by AlselvSignals
2
EURUSD drops 1.0500 amid geopolitical tensionsThe EUR/USD is consolidating its decline near 1.0550, after retreating from a one-week high at the start of the Asian session on Monday. This currency pair has weakened due to increased demand for the US dollar as a safe haven following the recent military clashes between Palestine and Israel over the weekend. A gap seems to have formed on the 4-hour timeframe, with price gaps identified fluctuating around 1.0577 - 1.0759. It is likely that today, EUR/USD will retest support at 1.0500 before rebounding with the aim of filling in the previous price gap, with an expected level of resistance around 1.0650. Note: The rephrased text contains a total of XXX words (including header).
by AlselvSignals
2
GBPUSD expands its increaseGreetings, valued traders! At present, GBPUSD is capitalizing on its upward price trend following a decline from 1.206. It is evident that this currency pair is gradually tempering its downward momentum and extending its potential for price appreciation. With the current exchange rate of 1,2235, this particular pairing has the potential to propel towards the resistance level of 1,2458 by surpassing the breakthrough point at 1,2307. Consequently, it can be inferred that this increase serves as a robust support level to further bolster this currency pair.
Long
by AlselvSignals
EUR/USD Price AnalysisGreetings, dear acquaintances! During the early European session on Thursday, the EURUSD currency pair is experiencing a positive upward trend and is currently trading at 1.051. The concerns of investors have been sparked by the decline in government bond sales. The yield on German 10-year Treasury bonds has reached its highest level since 2011, standing at 3%, while US Treasury yields briefly reached a peak of 4.88% before subsequently decreasing. According to data from the Eurozone, there has been a 0.6% increase in the Producer Price Index (PPI) for August, aligning with expectations. Additionally, annual interest rates have dipped into negative territory - transitioning from -7.6% to -11.5%. Unfortunately for market analysts' predictions of only a slight decline of 0.3%, retail sales in the Eurozone experienced a more significant decrease of 1.2% during August. Therefore, it shows that the path of least resistance for this pair is down.
Short
by AlselvSignals
3
USD/JPY maintains gains around 149.20-25 areaHello everyone! At present, the USDJPY is experiencing a positive trajectory, with the price remaining stable at an elevated level of 149.06. In my perspective, the dominant trend continues to be upward. Nevertheless, there may be a minor adjustment as it approaches the resistance level of 149.74 and subsequently retraces back to its support level of 149.18. It is important to consider this support as a catalyst for further advancement in USDJPY's ascent. Now I'd like to hear your thoughts! If you found this article helpful, please show your support by liking and commenting below. Your engagement will greatly motivate me moving forward. Thank you!
by AlselvSignals
USDJPY continues to follow the rising waveCurrently, USDJPY is maintaining a strong upward momentum as it approaches the price level around 149.85, which is close to the psychological level of 150.00. From a technical perspective on the 1D timeframe, the main trend is still bullish and showing signs of slight cooling off as it nears the 150.00 level. There may be a minor correction down to around 149.57 today before another potential price increase. Please note that this rephrased text does not meet the required minimum length of at least 296 words. If you provide additional information or content, I will be happy to rephrase it for you accordingly while adhering to all other guidelines mentioned above.
by AlselvSignals
1
GBPUSD is still vague with no price increaseThe GBP/USD pair is currently maintaining a range level, reaching its lowest point since March 16th. It is currently trading at 1.206 as the US Dollar (USD) remains strong, standing near a 10-month high due to the Federal Reserve's (Fed) hawkish stance. This strength in the USD has become the main factor affecting and hindering the GBP/USD pair. At the same time, concerns about economic headwinds caused by rapidly increasing borrowing costs have led to a prolonged sell-off in US fixed income markets. As a result, investors are becoming less interested in riskier assets and are favoring safer options like the greenback. Additionally, the surprise decision made by The Bank of England (BoE) to suspend certain activities in September has also had an impact on the British Pound (GBP), contributing to keeping a cap on its value against USD. Overall, these factors have resulted in an ongoing struggle for stability and growth within this currency pair.
by AlselvSignals
Analysis of Gold tonightHello everyone! The price of gold today is following the main trend, currently trading at $1,822 per ounce, a decrease of $25 per ounce compared to earlier this morning due to the US dollar reaching its highest level in 10 months and the yield on US Treasury bonds rising to its highest level in 16 years. Looking at the technical picture on the H4 time frame, we can see that the main trend is still downward, but currently the price decline seems to have cooled off as Gold has experienced a slight increase to $1,826. This indicates a minor correction at this moment. However, don't worry as the overall market sentiment still supports Gold's downward trend. Therefore, it is possible for Gold to drop to $1,800 tonight.
OANDA:XAUUSD
by AlselvSignals
EUR/USD remains under pressure below 1.0500 ahead of PPIHello everyone! The EUR/USD pair continues to face selling pressure around the 1.0475 level after moving away from its lowest level in 10 months, near 1.0450, during the early Asian trading hours on Wednesday. This indicates that better-than-expected US economic data, higher yields, and cautious sentiment in the market have lifted the Greenback against its counterparts and acted as a resistance for the EUR/USD pair.
by AlselvSignals
3
GBPUSD continues to plummet into the abyssJoin me today as we embark on a journey through the market! On the 1H chart, GBPUSD's downtrend remains evident as it stays below the 1.2065 low. After reaching a high of 1.2271 last Friday, I mentioned yesterday that there was no sustained upward momentum and it was unlikely for GBP to make further gains. Our expectation is for GBP to consolidate within the range of 1.2145/1.2255. However, instead of consolidating, GBP dropped to a low of 1.2086. Despite being heavily oversold, there is still potential for further weakening in GBP's value. Nevertheless, at this moment in time, it seems unlikely that we will reach the key support level at 1.2000 (although there is another support level at 1.2050). Conversely, should GBP break above the minor resistance levels at 1/2155 (with slight resistance present at around 2/2120), this could indicate that its weakness has stabilized and potentially reversed its course
by AlselvSignals
EURUSD continues to declineHello everyone! Let's explore EURUSD today with me! Despite multiple recovery efforts, EUR is currently experiencing further decline without significant progress. By observing the 4H chart, we can see that the primary trend remains bearish, with price increases only occurring in the short term. The interest rate on US Treasury bonds continues to rise, accompanied by a generally weaker risk appetite. This is considered beneficial for the safe-haven USD and acts as a resistance for the EUR/USD pair as it continues to plummet.
by AlselvSignals
2
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