Trader_BrianFX

Trader_BrianFX

Hello everyone, Brian here! Today, gold is trading around $2,380, showing an $8 recovery since the start of the trading session. Looking at the overall chart, we can see a strong upward trend supported by an active trendline. Higher lows and higher highs are pushing this precious metal towards a potential peak around the $2,405 mark. Additionally, market...

Trader_BrianFX Updated 

Hello everyone Today, gold prices seem relatively stable compared to this time yesterday. While gold is trading around $2,372 with a 0.38% recovery for the day, a breakout has yet to occur as the market awaits new moves from the Fed. However, the upward trendline and the 34 and 89 EMA lines still favor the buyers. Looking ahead, the target for a price increase is...

Trader_BrianFX

Today, the gold price has moved exactly as I predicted. The precious metal is fluctuating around $23,636, with a slight adjustment compared to the same time yesterday. According to basic wave theory, gold maintains its long-term upward advantage, strongly supported by the EMA signal.

Trader_BrianFX Updated 

EUR/USD saw a modest increase, closing positively above 1.0800 on Thursday. The pair remained steady early Friday following the U.S. Independence Day holiday, as the weaker U.S. Dollar (USD) supported the EUR/USD pair's strength. As of the start of today's session, EUR/USD continues to trade well within its ascending channel. The outlook targets resistance at...

Trader_BrianFX Updated 

As the new trading week begins, gold has adjusted downward by more than 14 USD after a strong rally on Friday, currently hovering around 2,377 USD. Observations on the 1D chart show that gold has broken the multi-week downward trendline and is approaching the resistance level at 2,430 USD. From a technical perspective, the trendline and the support level at 2,300...

Trader_BrianFX Updated 

GBP/USD is maintaining its strong upward momentum and is nearing a key resistance level. This bullish trend is supported by the price trading above both the 34 and 89 EMAs, along with a clear trendline indicating a long-term upward movement.

Trader_BrianFX

At the close of trading on July 5, the spot gold price surged by nearly $35, reaching $2,391 per ounce. This is the highest level since early June. Overall, gold prices have risen by more than 2% this week. The increase was driven by weaker-than-expected U.S. employment reports, bolstering expectations that the Federal Reserve (Fed) may cut interest rates in...

Trader_BrianFX Updated 

Gold prices extended their consolidating rally during Friday's Asian session, staying impressively close to the highest levels since June 21, reached earlier this week. The recent weaker U.S. macroeconomic data has reinforced market expectations that the Federal Reserve will start cutting interest rates by September. The short-term technical outlook for gold...

Trader_BrianFX

EUR/USD continues its winning streak for the seventh consecutive day, trading around 1.0820 during the Asian session on Friday. Daily chart technical analysis indicates a bullish trend, with the pair oscillating within an upward channel in the medium to long term.

Trader_BrianFX Updated 

EURUSD is in recovery mode, currently hovering around 1.0800 and breaking out of its sideways trend by surpassing recent resistance at 1.076. With the USD weakening, this uptrend is expected to extend on the 4-hour chart, with an initial target of 1.0844. What do you think about this move?

Trader_BrianFX

XAUUSD is bouncing back, hovering around $2360, and looking bullish as it breaks out of the downtrend channel, staying above the 34 and 89 EMA lines. In the short term, the trend favors the bulls, with growing acceptance that the Federal Reserve will start cutting interest rates this year, supporting the non-yielding gold. With weaker U.S. macroeconomic data...

Trader_BrianFX

Gold prices continued to struggle for significant traction on Wednesday. Traders seemed hesitant, opting to wait for more signals regarding the Fed's rate cut path. Investors are looking to the FOMC meeting minutes for additional direction ahead of the NFP report on Friday. Expect prices to continue moving sideways, but watch for any breakout from the current price range!

Trader_BrianFX

Today's gold price remains steady around $2325, continuing to move sideways as the market remains quiet, eagerly awaiting new announcements to guide the metal's direction. Gold is expected to continue its sideways movement until the end of the day when Fed Chair Jerome Powell delivers his speech. Interest Rates: If Powell hints at maintaining or increasing...

Trader_BrianFX Updated 

Price Movements Last Week: Start of the Week: Opened at $2,321.87 per ounce and then climbed to $2,330 per ounce. Mid-Week: Dropped to the week's lowest point at $2,295.23 per ounce on Wednesday morning. End of the Week: Recovered to $2,330 per ounce on Thursday, hit a weekly high of $2,339.78 per ounce on Friday morning, before settling back to $2,320 per ounce...

Trader_BrianFX

The global gold price continues to rise despite the lack of new catalysts, currently pausing at $2,326 USD. The latest inflation data does not provide a clear direction for the Federal Reserve's (Fed) monetary policy. At present, the market is betting that the Fed will cut interest rates in September and continue to cut in December. According to the CME FedWatch...

Trader_BrianFX Updated 

Global gold prices have turned upward, with spot gold rising by $29.6 to reach $2,329.4 per ounce. This recovery from a two-week low is driven by the weakening USD, as the market focuses on critical U.S. inflation data for insights into the Federal Reserve’s interest rate trajectory. Western investors are expected to increase their demand in the near future,...

Trader_BrianFX Updated 

Hello everyone, Brian here. What do you think—should we buy or sell gold today? In the short term, gold has paused its downward movement and is adjusting above $2310, gaining over $10 for the day and establishing support around $2300. However, the larger timeframe still favors the sellers, so we’re considering selling XAUUSD again, with key resistance levels to...

Trader_BrianFX Updated 

The USD/JPY exchange rate has shown an upward trend after breaking above the 159.00 level, sparking concerns that the Japanese government or the Bank of Japan (BoJ) might intervene in the forex market. With the Relative Strength Index continuing to rise, the momentum is currently in favor of buyers. Should USD/JPY surpass the psychological barrier of 160.00, the...