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Technical Analysis

SasanSeifi| Key Levels to Watch in the 4-Hour TimeframeHey there, ✌ In the 4-hour timeframe, as observed on the chart OANDA:XAUUSD , gold's price has seen a minor rise after reaching the $2,600 level and is currently trading around $2,657. In the short-term outlook, one possible scenario is that after encountering the $2,668 supply zone, the price may enter a consolidation phase, with a slight pullback toward the $2,650 and $2,646 levels. If we receive the necessary confirmation signals at this stage, we could potentially see a price rebound and continuation of the upward trend. To maintain this upward momentum, holding the support levels between $2,646 and $2,640 is crucial. In case of further correction, it’s essential to monitor the price’s reaction to these support zones. If the price finds support at these levels, a new upward move towards the mentioned targets could start. However, if these supports fail, there is a possibility of prolonged consolidation or even a further price decline. On the other hand, if sufficient buying pressure emerges and the price manages to stabilize above $2,670 and $2,675, the chances of further growth towards targets like $2,700, $2,710, and $2,720 will increase. This analysis is my personal viewpoint and not financial advice. If you found this helpful, please like and comment – I’d love to hear your thoughts! Happy trading! ✌😊
OANDA:XAUUSD
by SasanSeifi
4
USD/JPY Strengthens Due to High U.S. Bond YieldsThe technical analysis of USD/JPY on October 23 shows a strong upward trend. Currently, the pair is trading around 152.692 after breaking the 150.489 support level, paving the way for a potential rise to 155. The EMA 34 and 89 lines provide solid support, while the MACD indicator suggests strong upward momentum. A short-term correction may occur before further gains. On the news front, USD/JPY is boosted by high U.S. bond yields and expectations that the Fed will maintain stable rates, while the Bank of Japan continues its loose monetary policy.
by Zola_Hello
Gold prices continue to search for new peaks?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 points. At the same time, gold has attracted more attention from investors after the LBMA poll released earlier this week. These developments have made the gold market hotter than ever. It is expected that this price increase will reach $2760. What are your thoughts on this issue? Do you agree with me?
OANDA:XAUUSD
by ConanTradingFX
EURUSD: Selling strategy is preferred!EUR/USD continued to slide below 1.0800 during the European session on Wednesday. The major currency pair remained under pressure as the outlook for the Euro (EUR) deteriorated due to faster-than-expected inflation declines and rising risks of a Eurozone recession, fueling speculation of more rate cuts by the European Central Bank (ECB). EUR/USD was also pressured by a rally in the USD. The US dollar gained amid political uncertainty ahead of the US presidential election and strong expectations that the Federal Reserve (Fed) policy easing cycle will be more gradual than previously expected. Trend-wise, the bearish bias remains dominant across most timeframes and the short strategy remains the dominant style. Happy trading and good profits!
Short
by Bentradegold
Gold continues to conquer new heightsHello everyone! What is the current price of gold? Let's analyze with Victor! The world gold price today set a new record of 2,747 USD/ounce, up 27 USD compared to the same period yesterday at 2,720 USD/ounce. The world gold price skyrocketed to an all-time high as investors increased their demand for safe capital due to uncertainties surrounding the US presidential election and ongoing military conflicts in the Middle East. In addition, gold is considered a hedge against geopolitical and economic instability and has increased by more than 32% since the beginning of 2024. Lower interest rates also increase the attractiveness of holding gold. As can be seen on the 2-hour chart, gold is showing an extremely positive technical outlook. With moving averages sloping up and technical indicators supporting the bullish trend, gold is ready to conquer new highs. The $2,733 support level acted as a solid cushion in line with the 34 EMA and the rising channel limit, allowing gold to easily clear the $2,747 resistance and move strongly towards the $2,770 target. So, what do you all think about gold prices today? Will the bullish momentum continue?
OANDA:XAUUSDLong
by Bentradegold
BEARS KEEPS A TIGHT GRIP ON EU BULLS!Sellers are having a swell time violating buy zones this week, while we expected shorts, we had hoped to see a potential retracement move give us a chance to enter long (counter-trend/high-risk) but that has not happened. While price did bounced of this level a few times showing bullish reactions, they were insufficient to determine a shift in sentiment, now attention has shifted to this weekly FVG where we begin to watch for clear bullish reaction from the 4hr TF up to the daily TF . We'll keep fingers crossed until a reversal pattern prints!
Long
by LloydFX
Gold prices continue to rise at the end of the week!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 economies in the world, the US and China, have both announced negative economic data, which has boosted the demand for gold reserves. In addition to the reason for the poor economic information, investors expect the US Federal Reserve to cut the USD interest rate in early November, the market also expects the upcoming US election in November. As seen on the 4-hour chart, the gold price has been continuously pushed up since the price broke out of the downtrend and in addition, the new peak is still unclear before the weekend close, showing that the upward trend will continue. Using the Fibonacci extension, I expect and forecast that the gold price will likely move in the Elliott wave (1,2,3,4,5) and target higher levels at around 1.618 i.e. (2739) and if 1.272 (2717) holds, the price will increase higher to level 2 (2762) to continue to set as the final target. At this time, the realization phase is forming, Conan is waiting for confirmation with the aim of further strengthening in the coming time. What do you think about this view?
OANDA:XAUUSDLong
by ConanTradingFX
Will the market uncertainties impair the Dow?Macro theme: - The US30 has pulled back from record highs after a long rally, driven by rising Treasury yields and worries over high valuations. - Investors are watching earnings from companies like Boeing (BA) and Coca-Cola (KO), which could affect market sentiment. - With mixed economic signals and geopolitical uncertainties, short-term volatility is expected. Investors are balancing hopes for Fed rate cuts against concerns about economic growth and corporate earnings. Technical theme: - From the 4-hour chart, US30 broke its ascending trendline and retested EMA78 and the support level at 42720. - If US30 breaks below 42720, the index may change the structure sideways and reach nearby support around 42390. - On the contrary, if US30 remains above 42720, the index may consolidate within 42720-43300 until an apparent breakout occurs. Analysis by: Dat Tong, Senior Financial Markets Strategist at Exness
CAPITALCOM:US30Long
by DatTong
EURUSD: Recovery then decline?Hello dear friends! What do you think if EURUSD continues its downtrend in the future? This will be a long-term analysis for this currency pair. On the chart analysis: Ben sees that a double top pattern has formed (clearly indicated from the chart) which marks a strong fight from the sellers as they try to push the downtrend back. Furthermore, using Fibonacci retracement levels to measure the retracement of the first wave (blue area), the downtrend is expected to continue after reaching the 0.618 retracement level. If the price action of this currency pair plays out according to this trading idea, the 1.0910 and 1.0779 levels will be targeted by the sellers. What about you? How do you feel about the future trend of EURUSD? Share in the comments!
Short
by Bentradegold
Latest GBPUSD Comments Today - October 21, 2024Looking at the GBPUSD chart, we can see that the price is moving within a clear downtrend channel. Currently, the price is right next to the upper trendline of this channel, indicating that selling pressure may dominate and continue to push the price lower. Today's trading trend: SELL scalp. Trading strategy: For those considering trading, it is reasonable to look for a selling opportunity in the resistance area near $1.3050, with a target of $1.2950. Place a stop loss above the resistance area of ​​$1.3070 to limit risk. Wishing you a profitable and safe trading week.
Short
by Bentradegold
Gold prices continue to rise from $2,600Dear Traders! Analyzing the gold chart on the 1-hour time frame, we can see that gold prices were relatively weak at the beginning of the trading session after closing the week at $2660 with a slight reversal, currently hovering around $2656. This reversal is due to some short-term technical factors, especially a gap opening, which prompted investors to fill in based on the fundamental technical factor and is currently doing so. In addition, the price is still reacting to the 34 EMA and the Elliott wave on the uptrend channel has not been broken yet, so the expectation is that gold prices will continue to be attractive in the near term. With the current Elliott wave trend, gold is likely to move towards higher targets if it breaks through the important resistance area of ​​$2660. Always analytical. Good luck traders!
OANDA:XAUUSDLong
by Bentradegold
Gold XAUUSD trading trend analysis on October 21, 2024At the end of last week's trading session, gold prices continued to increase strongly. Gold prices have created a new ATH after a correction to 260x. We will now trade according to the main trend. Wait for the next adjustment of gold to enter a long-term order. Today's trading trend: BUY scalp. Price zones to pay attention to: BUY zone: 2703 - 2708 SELL zone: 2735 - 2740 and 2745 Wishing you a profitable and safe trading week.
OANDA:XAUUSDLong
by Bentradegold
Gold price on weekend (October 18)Gold prices continued to rise today and hit a new record, reaching a full $2,700 at the beginning of the session and the upward momentum is still strong. Accordingly, gold reached a record high as it continued to be driven by safe-haven demand, due to concerns about instability surrounding the US presidential election and conflicts in the Middle East. In addition, expectations that the US Central Bank will continue to loosen monetary policy after cutting interest rates by half a percent last month are growing, also adding strength to the yellow metal. Thus, with the recent increase, gold prices have increased by more than 30% and officially "broke" the record. In addition to concerns related to the situation in the Middle East, the US election also created instability, which continued to boost safe-haven demand for this yellow metal.
OANDA:XAUUSD
by Bentradegold