After the release of the US GDP figures for the first quarter of 2024, the gold market experienced a strong price surge, surpassing the $2,330 threshold, paving the way for recovery.
Currently, the price of gold is stable around $2,335, with short-term forecasts still optimistic towards buying pressure. Prospects are aimed at the psychological milestone of...
The EUR/USD pair edged lower in the Asian trading session on Friday, moving away from its two-week high around the 1.0740 level touched the previous day. Currently, the spot price is hovering around 1.0740 in the European session and remains dependent on the price fluctuations of the US Dollar (USD) ahead of key data releases from the United States.
Based on...
The GBP/USD slid below 1.2500, wiping out much of its daily gains, as the US Dollar staged a robust recovery following the release of the US Gross Domestic Product (GDP) report for Q1, which indicated a sharp increase in inflation. The preliminary GDP index surged by 3.1%, compared to the previous 1.7%. This has fueled expectations that the Federal Reserve will...
The price of gold is currently undergoing a phase of recovery consolidation after breaking free from its daily lows, trading at $2,330 compared to the low of $2,305. This stability is reinforced by the higher interest rates of the US Treasury and the resurgence of inflation, leading to speculation that the Fed may cut interest rates in the near future.
Looking at...
FET attempted to break out of our green Target Zone ($1.91 – $2.51), but bounced back from the upper edge of the range. Primarily, however, we continue to assume that the last sub-wave of the orange-colored wave iii should lead to a significant rise out of the Zone. Only a drop below the support level at $1.63 will alter our outlook. A break of this mark will...
A possible breakout of a continuation flag in the 4hr timeline. If breakout occurs then price will move upwards to previous highest high, an area of interest/take profit.
The support at 17,372 points seems to be holding: Yesterday, the Nasdaq touched down on the red line once again, but immediately used it as a springboard for a further upward swing. This is good news for our primary scenario, as there is still a long way to go until the top of the magenta wave (i) is reached. If the Nasdaq continues to defend the 17,372-points...
EUR/USD slightly increased on Thursday and is expected to remain stable in the Asian trading session on Friday, around the level of 1.0730.
Looking at the one-hour chart, we can see signs of slight decrease in price. However, this is only a short-term prospect. There is a possibility that the price will retrace to the 0.5-0.618 Fibonacci level before returning...
GBP/USD has attracted attention with a strong recovery, surpassing the 1.2500 threshold during the European trading session. This currency pair capitalizes on expectations of improvement in the UK's economic outlook and the decline of the US Dollar.
Looking at the chart, we can see that the price is supported by the upward trend but still constrained by the SMA...
Gold is gradually recovering, maintaining stable gains throughout the morning session of European trading on Thursday, nearing the $2,330 threshold. Prices are expected to test the 0.5-0.618 Fibonacci area.
However, traders may prefer to wait for further signals regarding the Federal Reserve's interest rate reduction trajectory before betting on a positive direction.
EUR/USD responded to new demand and rose to 1.0750 in the European trading session on Thursday.
From a technical perspective, a positive signal is emerging as EUR/USD may be forming aa cup and handle. In this scenario, the expectation is for the price to continue rising to the first resistance level at 1.0727, followed by the psychological milestone of 1.0885.
EUR/USD maintains an upward channel oscillating around the 1.0700 level. The weakening strength of the USD is gradually paving the way for a gentle rise in this currency pair.
From a technical standpoint, we observe that EUR/USD continues to hold above the simple moving averages (SMA), while the relative strength index (RSI) remains around the 60 mark, indicating...
Gold remains stable amidst a downward trend, given the backdrop of rising US yields. Reduced tensions in the Middle East contribute to market stability, albeit dampening the demand for gold.
Looking at the one-hour chart, it's evident that gold's potential for price appreciation is still constrained. The Relative Strength Index (RSI) has solidified around the 40...
Gold is trading at 2325, with a notable resistance level observed at 2335. Should gold breach this resistance, traders may consider pursuing the following targets: 2343 to 2355.
Alternatively, should a sell pattern manifest, indicating a potential downturn, traders may anticipate the following support levels: The initial support rests at 2310, followed by...
USD/JPY is currently at its highest level in decades, at 155.00. This has traders concerned about the risks of Japan's intervention in the forex market. The strong recovery of the US dollar (USD) is also driving the USD/JPY higher.
From a technical perspective, the market is stable but showing signs of correction. Prices are expected to retreat to the 0.5-0.618...
USD/JPY is currently at multi-decade highs, closing at 155.00. Traders are exercising caution due to increased risks stemming from Japan's forex intervention. The recovery of the US dollar (USD) is bolstering the upward momentum of USD/JPY.
From a technical standpoint, the pair is trading above the Simple Moving Averages (SMA), indicating a stable uptrend....
BINANCE:JUPUSDT
#JUP/USDT SPOT LONG ENTRY
Leverage: 1x
Entries: $1.8397
Take profit 1: $1.3659
Take profit 2: $1.4888
Take profit 3: $1.7814
Stop Loss: $0.9893
NOTE: This is just my prediction. Be sure to use STOPLOSS and remember that I am not a financial adviser. your money, your risk!
Thanks
The sroced.
