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💡 XAUUSD: The upward momentum has stalled➡️ OANDA:XAUUSD ANALYSIS December 1, 2023 Gold experienced a decline yesterday, putting an end to its five-day streak of consecutive price hikes, which had pushed it into an overbought state over the past two days. Nevertheless, the downward pressure is relatively mild as the decrease recorded in the D1 bar had a limited range. The primary trend for daily (D1) gold prices continues to be upward, and this drop is perceived as a form of correction following the recent surge in prices. In the hourly (H1) gold chart, the adjustment pattern exhibits a downward diagonal structure. However, a definitive downtrend has not materialized as the price has yet to break the most recent low. The prevailing strategy for H1 gold is to persist in buying at lower levels, avoiding chasing after higher prices, especially since D1 is currently encountering resistance.
OANDA:XAUUSDLong
by Stone_Haven
#AUDJPY potential turnaroundHello dear traders and friends. Let's take a look at the AUDJPY chart and explore the potential bullish move that could happen from around here. As observed in the 4-hour timeframe chart, the overall direction of the price is bullish , characterized by higher highs (HH) and higher lows (HL). The price respects a bullish trendline acting as support, with clear bullish bounces occurring each time the price reaches or gets close to this line. Simultaneously, in the 1-hour timeframe chart, the price is forming a double bottom , corresponding with a bullish divergence between price and the momentum (Stoch) oscillator. The crucial aspect of these two confluences is that they are occurring in an important supportive area, namely the static support area and the bullish trendline, which adds to the possibility of the divergence working out. From a candlestick perspective, we also observe the formation of a bullish engulfing candle in the 1-hour timeframe, which can be interpreted as a morning star if combined with two previous candles. If you've found this analysis helpful, please take a moment to like, comment, or share your thoughts with me.
Long
by mohemati
9
USD/JPY - What would be the next direction for the pair We can observe that the USD/JPY pair has been on a bullish trend since January, reaching a retest of a 33-year high at 152.073 this month. There has been a moderate pullback to the supply zone, trendline and the EMA200. The current scenario presents possibilities for both a downside break and an upside push, with the potential to surpass the 152.073 level. The market is currently establishing higher highs, maintaining its overall bullish trajectory.
by ekesam
💡 XAUUSD: Analysis on November 30Below is the OANDA:XAUUSD analysis on November 30 Gold saw its fifth consecutive day of price hikes yesterday, marking a sustained upward trend where the most significant surge has yet to materialize. Despite the uptick in yesterday's D1 bar, it formed a spinning top candlestick pattern, indicating a delicate balance between supply and demand throughout the day. However, buyers no longer exert full control. The overall structure of Gold's D1 chart remains bullish. Nevertheless, the fact that yesterday's D1 bar continued to close beyond the upper boundary suggests an overbought scenario, raising the possibility of a potential retracement before further advancement. H1 gold, on the other hand, has transitioned into a sideways accumulation phase, unable to sustain its upward trajectory due to the inability to establish a new high price peak. The crucial approach for H1 gold is to patiently await buying opportunities at lower levels, avoiding chasing after higher prices to prevent overbought conditions at D1.
OANDA:XAUUSDLong
by Stone_Haven
3
DXY's Recent Shifts: Insights and ObservationsD ear Esteemed TradingView Community, I'm sharing my recent analytical insights into the movements of the Dollar Index (DXY). Please note that the following reflections are not financial advice but rather a comprehensive analysis based on my observations. This week, DXY experienced a notable descent, and my analysis, driven by AI natural language processing, suggests a correlation with global news developments. Strikingly, the influence of news events appears to have a more significant impact on price action than technical indicators. As DXY found its way down, it eventually landed in a support zone. While this decline signals a bearish sentiment, it's crucial to recognize that the current position also places DXY in a support zone. Historical data indicates that predictions originating from support zones tend to favor upward price trends. Although some indicators still hint at a potential bearish outcome, extending downwards to the underlying support zone around $101 (as indicated by the blue rectangle), this zone might also act as a reversal point. Notably, the current support level aligns with the Exponential Moving Average (EMA) of 200, adding a layer of significance to its potential impact. In this scenario, careful observation becomes paramount. One can monitor whether the price breaks below EMA 200, potentially signaling a short position with a target at the underlying support zone. Conversely, a long idea could play out if the observed support level, coinciding with EMA 200, acts as a shield, propelling DXY upward. It's essential to exercise caution when contemplating short positions from the current level, given its classification as a support zone. The risk-reward ratio may not favor such a strategy at this juncture. Adding a layer of complexity to the analysis is DXY's correlation with the stock market. The potential for DXY to follow a bearish trajectory could be heightened by a flourishing stock market. Conversely, a bounce in DXY might indicate a retracement in the context of a thriving stock market. In conclusion, the intricacies of DXY's current position warrant careful consideration. The interplay between support zones, technical indicators, and global events introduces a degree of uncertainty. As we navigate these waters, it's crucial to remain vigilant and adaptable in our approach to market analysis. With regard and an understanding heart, Ely
TVC:DXY
by Elysian_Mind
💡 XAUUSD: Can gold maintain its upward momentum?There are two main factors driving the increase in gold prices: - USD weakness: The USD fell 0.1% and hovered around a more than 2-month low recorded last week. This makes gold cheaper for holders of other currencies. - Expect the US to end interest rate hikes: Investors are expecting the US Federal Reserve (Fed) to begin slowing down interest rate increases after the US jobs report showed that the labor market is slowing down. heat. This also makes gold more attractive to investors looking for a safe haven. ➡️ Senior market analyst Craig Erlam at OANDA said that gold prices are rising spectacularly beyond 2,000 USD/ounce after a report published last week showed that inflation and the job market are cooling. ➡️ Gold prices have been pushed well above the 50, 100 and 200 day moving averages and are very close to the all-time high reached in August 2020.
OANDA:XAUUSDLong
by Stone_Haven
#NZDUSD bearish possibility move We can see price reaching out to the daily timeframe bearish channel upper line, which potentially can act as resistance for the price. Additionally, we can spot the formation of a rising wedge pattern in the chart, which is intrinsically bearish and is regarded as a reversal formation in an uptrend. Another factor indicating the loss of bullish momentum is the decrease in cycle amplitude . A decrease in cycle amplitude in an uptrend is an early indication that there may potentially be underling weakness. (use 4 hour time frame chart for this.) Moreover, we have a static resistance area that previously acted as support and resistance for the price, making it an important area to observe for price reactions. It's crucial to note that any breakout from the upper side of the rising wedge pattern or the bearish channel would invalidate this analysis. For taking a position any breakout from below the rising wedge or changing market structure in 4-hour time frame could give us the entry trigger. If you've found this analysis helpful, please take a moment to like, comment, or share your thoughts with me.
Short
by mohemati
5
💡 EURUSD: Will it maintain its position?➡️ Currency traders observed the Euro maintaining its bullish position against the US Dollar today, persistently aiming for the 1.1000 mark and finding support at 1.0900. However, the Euro faced a decline against the British Pound, reaching a two-week low. ➡️ Changes in investor sentiment can be attributed to evolving expectations regarding the monetary policy of the European Central Bank. The anticipated ECB rate cut, initially projected for April, has been pushed back to June, with the expected cut now scaled down to 83 basis points. While the forex markets showed relative stability last week, upcoming inflation data from both the Eurozone and the United States in the following week is anticipated to play a pivotal role in determining the trajectory of currency movements. Traders are advised to closely track these reports for insights into potential future central bank actions and their likely impact on currency valuations.
Long
by Stone_Haven
4
💡XAUUSD:Strong increase thanks to economic policies from the US➡️ Recent trends in gold prices are primarily influenced by US monetary policy. Gold has successfully surpassed the $2,000 level and is anticipated to conclude the week with positive gains for the second consecutive time. Despite this, some organizations hold the view that the potential for further increases in gold prices is limited. The Federal Reserve's commitment to tightening monetary policy suggests that overcoming the current resistance level could be challenging for gold. Additionally, the agreement on a limited ceasefire between Israel and Hamas has diminished the attractiveness of gold. ➡️ On the H4 chart, gold made an attempt to break out but faced resistance, with the MACD histogram bar and double line indicating a potential peak divergence. The most significant risk for gold is associated with a strengthening USD, driven by rising bond yields and overbought conditions.
OANDA:XAUUSDLong
by Stone_Haven
1
💡 GBPUSD: Wait to sell at the reversal signal➡️ GBPUSD has approached the weekly resistance zone and we see the price weakening in momentum. That means the price forms a higher peak, but it is clear that neither the candlestick nor the distance to create the peak is strong. However, this is not a reversal signal. If we want a reversal trade from this zone, we need more confirmation. ✔️ So with this currency pair, you should first monitor the price action around the current area. If the price forms a strong reversal signal, you can consider selling. In case the price continues to rise and breaks the current resistance, we will continue to buy.
Short
by Stone_Haven
💡 XAUUSD: Strong increase due to weak USD➡️ Gold held its ground in the final trading session of the week, securing its second consecutive weekly gain. The upswing in gold prices was driven by a softening dollar, with analysts increasingly speculating that the US Federal Reserve (Fed) had concluded its interest rate hike. The decline in the US Dollar Index renders gold more affordable for holders of alternative currencies. ➡️ Senior analyst Lukman Otunuga from FXTM noted that gold has entered a holding pattern as investors anticipate further insights into the Fed's monetary policy stance. Hovering around the $2,000 per ounce mark, gold is currently seeking a catalyst to strengthen its momentum. ➡️ Recent data revealing a larger-than-expected decrease in new unemployment claims among Americans last week tempered expectations for a Fed rate cut in 2024.
OANDA:XAUUSDShort
by Stone_Haven
4
XAUUSD: short-term BUY XAU strategyXAU has increased dramatically this morning, specifically in 2018 due to recognition from the FED, the end of the interest rate hike cycle, experts say that XAU will continue to increase in the near future Experts say that the current headwind for gold is still rising bond yields. Therefore, the market may be sensitive to important reports this week, including US third quarter GDP data. Although the US economy is expected to grow strongly in the third quarter, there are growing concerns about a slowdown in activity in the quarter. Looking at gold's technical picture, analysts note investors and traders should watch for initial resistance at $2,010 an ounce. If this level is broken, gold could rise steadily to $2,050/ounce, before hitting an all-time high of $2,082/ounce, predicts Fiona Cincotta, senior market analyst at City Index.
OANDA:XAUUSD
by FalCol_TradingMaster