ConanForex

ConanForex Updated 

Dear traders! Gold established a downtrend after failing to overcome the resistance level of 2400 USD and closing below the negative level of 2300 USD as large buyers such as the Central Bank of China stopped buying thus negatively impacting gold prices before the weekend and is likely to have a long-term impact on gold in the near term. On the new outlook for...

ConanForex Updated 

Dear traders! USD/JPY jumped more than half a percent within minutes after the release of US Nonfarm Payrolls (NFP) data on Friday and edged higher to 156.35 after the US Dollar (USD) ) was strong thanks to better-than-expected results, showing that investors' sentiment is very positive. By maintaining this high level, Conan optimistically assesses that in the...

ConanForex Updated 

Dear traders! Overall, Gu is preparing for a fall in the negative zone below 1.2750. The reason for the decline is mainly due to the US Dollar outperforming its rivals after impressive labor market data in May. It is expected that GU's downward trend will be more certain in the coming time, we I am waiting to pull back the sideways supply zone and target selling...

ConanForex Updated 

Dear traders! EURUSD is trading on a clear uptrend on the 4-hour chart although the upside momentum is showing clear downside. I expect the horizontal support and trend channel cap to be retested soon to accumulate bullish momentum before resuming growth with a target to retest the 34.89 EMA i.e. 1.0850

ConanForex Updated 

Dear traders, I am Conan! Today, I want to share with you an extremely exciting update on medium and long-term gold. Overall, Gold is currently at a historic peak and all signs indicate that prices will continue to explode in the coming years. As you can see On the chart, we can see a strong developing cup and handle pattern on the monthly timeframe. This is a...

ConanForex Updated 

Dear traders! Gold's return to a key support structure follows an update to a high of $2,387. =)2332 USD would be a good entry point to buy on the next bull run! This is also the previous resistance structure. If the price forms a Bullish Pin Bar After touching 2332 USD, the opportunity will be better, because the general fundamentals of the market are still positive.

ConanForex Updated 

Dear traders! The EU has broken the Neckline so the outlook continues to be positive and maintains activity based on the previous uptrend, the main reason is that the market tends to be temporarily satisfied with Thursday's decision to cut interest rates by ECB. This increases expectations of the Fed cutting interest rates in September, through which the EU may...

ConanForex Updated 

Dear traders! GBP/USD consolidates and remains near weekly highs but below 1.2800. Although the pair tested the trend channel support, the pair seems reluctant to break decisively above that level which could push the price to a year-to-date (YTD) high of 1.2894 Amid a cautious market mood, the US Dollar held its ground and did not allow the pair to move...

ConanForex Updated 

Dear traders! USDJPY is still falling. The support at 155.55 failed to turn UJ around and the downtrend continued. But based on the setup and model, it is expected that after UJ drops to 154.80, the price will recover based on the setup of a double top and bottom pattern that is likely to form. This price increase is expected to target the falling channel...

ConanForex Updated 

Dear traders! Gold has ended the wave of adjustment in the context of market expectations that the US will follow the ECB in loosening monetary policy, in the direction of reducing interest rates in the near future. At that time, the USD will decrease in value compared to many other foreign currencies. Gold prices may increase even more in the future. 2 Plan to...

ConanForex Updated 

Dear traders! Currently, GBP/USD is paring gains towards 1.2750 in European trade on Wednesday. Increased demand for the US Dollar dragged the pair lower, despite the better market mood. Focus turns to US ADP data and ISM Services PMI for fresh trading offers. Personally, Conan still appreciates that the trend of this pair remains stable above 1.2750 because the...

ConanForex Updated 

Dear traders! According to Conan personally observing EURUSD on the 1h chart, this time is the time to buy with pull back to the resistance area with very strong buying pressure from this area when the 2 exponential moving average lines 34.89 EMA are at positive levels with no signs of significant price reversal. So we LONG EURUSD up to local highs of 1.0916 and...

ConanForex Updated 

Dear traders! EUR/USD is consolidating below 1.0900 early Wednesday amid modest gains in the US Dollar. Investors are now betting the Fed's rate cut causes US bond yields to fall, limiting the pair's downside. In the short term, key US data on Wednesday could provide some impetus ahead of the ECB on Thursday. This price increase is expected to reach the 1.0950...

ConanForex Updated 

Dear traders! As expected by Conan, the price broke the classic wedge pattern and grew and reached 2,374 USD early in the Asian trading session Thursday and increased 0.53% on the day, the next target is expected to be at least 2,400 after the first phase. correction period and retest of the 34.89 levels.

ConanForex Updated 

Dear traders! On the gold chart, the price broke a key resistance level after completing a double bottom pattern. Currently, Conan is waiting to find a pullback point to a new support area to buy. Point 2350 or 2355 will be the best entry point for the next price increase! Buy gold up to the $2415 target, but wait for confirmation at the support level mentioned...

ConanForex Updated 

Dear couriers! Gold prices (XAU/USD) attracted some selling on Tuesday and fell to the $2,316-$2,315 area, back near multi-week lows touched the previous day following modest strength in the US Dollar (USD). However, the USD's recovery efforts from its lowest level in more than two months have lacked continuity as more and more people accept that the Federal...

ConanForex Updated 

Dear traders! GU has been struggling to stay above the 1.2800 resistance level of late, with upside limited by the market focus shifting to key data releases from the US. Speaking of news: ISM Services PMI is forecast to move higher to 50.5 from 49.4. Better-than-expected PMI print could support USD and pressure GBP/USD. On the other hand, the USD could start to...

ConanForex Updated 

Hello everyone! Let's recap the markets from last week and discuss our new plans for next week. In terms of new prospects: Kitco News' weekly gold survey results show that 60% of Wall Street experts expect gold prices to increase, 20% forecast a decrease and 20% think gold prices will go sideways. Overall last week, Gold prices were pressured by strong economic...