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Moving forward, the market might be attempting to establish a trading range, although it's a bit early to focus on that possibility. It's also important to consider that market liquidity can decrease during this time of year, which could affect the likelihood of significant movements in the near term.
Nevertheless, if the euro manages to close above the 1.10 level, it could signal the start of a more robust rally, potentially aiming for the 1.1250 mark.
This level has historically been a point of resistance and a selling area.
Overall, the euro's current situation is a blend of market reactions to central bank policies and broader economic indicators. Traders are advised to monitor these developments closely, as they can significantly impact currency values. The potential for fluctuations in market liquidity towards the year's end also adds an element of uncertainty. This environment may offer opportunities for strategic investments, particularly for those who are adept at identifying and leveraging potential dips in the market. As always, staying informed and adaptive to market changes is key to navigating the currency trading landscape effectively.

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Gold Price Forecast
Gold Forecast: Sees Downward Pressure Due to Rates and More
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Gold Forecast: Sees Downward Pressure Due to Rates and More
Christopher Lewis
Christopher Lewis
| on September 29, 2023
In conclusion, the gold market is a complex and multifaceted entity, influenced by a range of economic and market conditions.

Currently, the gold market is navigating through a phase of despair, with the existing conditions being far from favorable. The market is consistently experiencing a downturn, significantly positioned below the 200-day EMA and the crucial $1900 level. The oscillations in the gold market are intricately linked to the inflation and interest rate movements in the United States. In light of the present conditions, the market is anticipated to continue its descent, possibly approaching the $1800 level. The trading activities observed during a recent Wednesday session vividly illustrate the dominant negative sentiment permeating the market.

The general upward trend for the price of gold XAU/USD has been broken.
The bears' control over the trend may increase if the prices move towards the $1900 support, which may increase the selling operations to move towards the next psychological support of $1885.
This is the best place to buy from.
The movement towards the resistance of $1945 per ounce may be important for the bulls to control the trend again.

In the near term and according to the performance on the hourly chart, it appears that the XAU/USD gold price is trading within a limited bearish channel formation. This indicates a strong short-term bearish bias in market sentiment. Therefore, the bears will be looking to extend the current range of declines towards $1992 or lower to $1979 an ounce. On the other hand, the bulls will look to pounce on profits at around $2022 or higher at $2038 an ounce.
In the same week, gold market gains reached the $2048 resistance level, the highest for the yellow metal in more than a year.
It is also close to the price index of 2079 dollars an ounce.
Its gains came primarily amid strong abandonment by investors of the US dollar, after cooling expectations about the future of raising US interest rates.
This is in addition to the increasing global geopolitical tensions, which is a good environment for the rise in the price of gold and its recent gains.

The general trend of the EUR/USD currency pair is still bullish.
Stability around and above the psychological resistance 1.1000 confirms this trend.
This is taking into account that the continued weakness of the dollar may bring the bulls the momentum to move towards stronger ascending levels.
The closest levels are 1.1075, 1.1120, and 1.1200, respectively, which is sufficient to push the technical indicators towards strong overbought levels.
Moving towards these peaks requires investors to abandon the dollar, with calming expectations about the future of raising US interest rates, and at the same time continuing the momentum for the euro from the upcoming tightening of the European Central's policy.

Looking forward, it seems likely that we will eventually break out, but it won't be an easy feat. It will take a lot of effort, and as a result, there will be quite a bit of volatility ahead of us. After the huge move to the upside, we started to see a lot of choppiness as we hung around the $2000 level. If we do pull back from here, there will still be plenty of buyers interested in gold.There are still risks considering when trading gold.

One major risk is the possibility of a stronger US dollar.
If the US dollar does gain strength, it could put pressure on gold prices, as investors flock to the dollar as a safe-haven asset.
Additionally, a stronger economy could lead to rising interest rates, which would also put downward pressure on gold prices.
Ready to trade today’s Gold prediction?

Gold has seen increased buying pressure in recent times, as traders seek a safe haven asset due to market volatility. With the fear of losing wealth, gold has been the perfect choice for traders looking for a reliable asset to preserve wealth. Moreover, some traders are starting to buy gold, anticipating that the Federal Reserve will have to go back into quantitative easing. In any case, gold is exceptionally bullish, and every dip in its price should be viewed as an opportunity to buy.

Despite its bullish trend, the market may face significant challenges in the coming days. Traders will have to deal with the lack of liquidity and volatility that comes with a market holiday. Furthermore, the market has become too dependent on the idea of wealth preservation, which has contributed to the massive rise in gold prices. Therefore, traders need to be cautious and patient, waiting for the market to stabilize before making significant trading decisions.

Traders should keep in mind that due to the bank holiday on Friday, liquidity will be limited. As a result, traders should exercise caution when interpreting any sudden movements in the market. It’s best to keep position sizes small and wait for liquidity to return on Monday.

The GBP/USD rose to a 10-month high against the dollar on April 4, as the British currency gained a strong start to 2023.
For now, the outlook remains constructive as analysts estimate that April is a historically strong month for the pound, meanwhile, A positive technical setup indicates that any reversals are likely to be shallow.
The GBP/USD gains reached the 1.2525 resistance level, its highest since June 2022, and it settles around 1.2495 at the time of writing the analysis, waiting for anything new.

According to the performance on the daily chart, the bulls still need to control the performance of the EUR/USD currency pair.
A buying rule is waiting for a trigger to start the bullish reversal.
The pair's view may change to bullish if it moves towards the resistance levels 1.0725 and 1.0830, respectively.
On the other hand, the move towards the support level 1.0550 will have more bear control over the trend.
The testimony of US Central Bank Governor Jerome Powell and the announcement of US job numbers are the most important drivers of the EUR/USD currency pair this week. He may remain in a neutral position until he reacts to these statements and events.

The EUR/USD took a significant fall during Thursday's trading session, almost wiping out the gains made on Wednesday against the greenback.
The market seems to be trying to determine its next move, as it's below the 50-Day EMA and above the 200-Day EMA, which often results in noisy behavior.
Consequently, we can expect a choppy market going forward. Additionally, the market recently retreated from the 50% Fibonacci level following a nice recovery, and it appears that it could continue the overall downtrend seen last year. If that happens, the market could quickly drop down to the 1.00 level.

The price of the EUR/USD currency pair is heading lower within a descending channel on its hourly time frame, and the resistance seems to be holding again. The pair can set its sights on the downside targets set by the Fibonacci extension tool afterwards. The 100 SMA is below the 200 SMA to confirm that the general trend is still bearish, and selling is more likely to gain momentum than to reverse. The moving averages are also near the top of the channel adding to its strength as resistance.

Stochastic is heading down from the overbought area to confirm bears' control while buyers take a break. The oscillator has plenty of room to slide before reaching the oversold zone to reflect exhaustion among the sellers. Similarly, the RSI is moving lower to show that bearish pressure is at play, so EUR/USD may continue to follow until oversold conditions are met.

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According to the performance on the daily time frame chart below, the price of the USD/JPY currency pair is moving inside an ascending channel that was formed recently with a correction after the collapse of the currency pair to the psychological support level of 128.00 at the beginning of trading this month. Expectations for the future of changing the policy of the Central Bank of Japan are increasing, considering the new leadership and the calm pace of raising the US interest rate. With the occurrence of the opposite, the bulls found the opportunity to achieve the recent strong gains, which in turn moved the technical indicators toward overbought levels.

However, the US dollar may remain supported by the US Federal Reserve's signals of tightening if stronger US GDP growth is announced today and weekly jobless claims continue to decline. The closest resistance levels for the currency pair are currently 135.75 and 136.60, respectively. On the other hand, an exit from the current ascending channel will not occur without the dollar-yen pair moving toward the support levels at 132.80 and 131.30, respectively.

The bearish trend of the EUR/USD currency pair is getting stronger, and it is the closest to breaching the next psychological support 1.0600, and stability below it may push the bears to move towards stronger descending levels. From now until reaching it, it seems clear that the technical indicators have reached oversold levels, but the continued strength of the dollar means the continuation of the current trend.

On the other hand, over the same period of time, the movement of the euro/dollar toward the resistance level at 1.0820 will be important for the bulls to control the trend again. Bearing in mind that the continuation of the momentum for the future of raising US interest rates will threaten any attempts of the currency pair to rebound upwards. Today, the euro/dollar currency pair will be affected by the announcement of inflation figures in the eurozone, as well as the announcement of the US economic growth rate and the US weekly jobless claims.

Despite the recent rebound, the general trend of the GBP/USD pair is still bearish, according to the performance on the daily chart. The move towards and below the psychological support level of 1.2000 will remain supportive of the bears' control over the trend.

From it, it is possible to move towards stronger support levels, which are 1.1945 and 1.1880, respectively. It is sufficient to push the technical indicators toward oversold levels. On the other hand, over the same period of time, breaking the important 1.2230 resistance level, to enable the bulls to start controlling, and so far I still prefer to sell the Sterling Dollar from every bullish level.

Overall, the US dollar is showing signs of a potential upward trend. However, it is still a messy affair and subject to volatility, especially given the involvement of the Japanese yen. Traders should be prepared for pullbacks and any potential resistance levels, as well as any news events that could impact the market's performance. Of particular note will be the FOMC Meeting Minutes this week, as it could give us an idea as to know how tight the Federal Reserve plans on being in the future. On the other hand, pay close attention to the 10 year yields in Japan, because the closer they get to the 50 basis points level, the more pressure you will see on the Japanese yen, and of course vice versa. As yields dropped, that has typically been very helpful for the Japanese yen as it relieves quite a bit of pressure.

The general trend of the GBP/USD currency pair is still bearish, and as I mentioned before, stability around and below the 1.2000 psychological support level will remain supportive of the bears’ control and warns of an upcoming strong downward move. The closest support levels for the currency pair are currently 1.1975 and 1.1880, respectively, and the last level is sufficient to push Technical indicators heading toward oversold levels, according to the performance on the daily chart below. On the other hand, over the same time period, breaching the 1.2220 resistance will give the bulls some momentum to advance. The reaction to this week's important economic data, along with investor sentiment in the markets, will guide the currency pair during this week's trading.

EUR/USD is heading lower on the hourly chart, forming lower highs and lower lows within the descending channel. And the price is currently testing the 50% Fibonacci retracement level, which might keep the gains under control. And if so, EURUSD may resume sliding to the swing low at 1.0615 or the channel bottom near 1.0600. On the other hand, the higher correction might reach 61.8% Fibonacci retracement, which is closer to the top of the channel at 1.0730.

According to the performance on the daily timeframe chart below, the EUR/USD currency pair is still moving within a bearish channel that was formed recently since it abandoned the psychological resistance level at 1.1000. Strength factors of the US dollar are increasing, the bears have the strength to move towards stronger support levels and the ones closest to 1.0600 and 1.0520, respectively.

From the last level, you can think of buying the pair without risk, as the technical indicators will then reach strong oversold levels. On the other hand, over the same period of time, there will be no first reversal in the direction of the euro/dollar without moving toward the resistance levels of 1.0775 and 1.0890, respectively. Today, there is an American holiday that will affect the market performance and liquidity, and therefore we expect a calm movement for the currency pair today.

Crash 1000 index is trending higher ahead of ECB and BOJ’s policy announcements! Think today’s events will influence its hourly trend!!!

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Forex trading involves trying to predict which currency will rise or fall versus another currency
How do you know when to buy or sell a currency pair?

we are going to use a little fundamental analysis to help us decide whether to buy or sell a specific currency pair.

The supply and demand for a currency changes due to various economic factors, which drives currency exchange rates up and down.

Each currency belongs to a country (or region). So forex fundamental analysis focuses on the overall state of the country’s economy, such as productivity, employment, manufacturing, international trade, and interest rates.

Check out this neat confluence of support levels on the 4-hour time frame of CRASH 1000 INDEX

Will it bounce back ? Yes!

Looks like this trend line is still holdin’ like a boss!

Crash 1000 index has been cruising above this rising support area that’s been holding since mid-April this year. Another test is taking place, and technical indicators are pointing to a bounce.

One of the fastest ways to learn trading forex is becoming knowledgeable about the powerful and popular candlestick patterns as they indicate if the trend is about to reverse or continue further. I'm much glad I made this today $3000+ after lot's of stress and work load.🤗💰💖