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EURUSDHello Traders! What are your thoughts on EURUSD? This currency pair is currently positioned below a key resistance zone. It is expected that after a brief upward correction, it will likely decline towards the specified level. Additionally, the European Central Bank’s monetary policy meeting, scheduled to take place in the coming hours, could serve as a key catalyst for this pair's movement. If you found this analysis helpful, don’t forget to like and share your thoughts in the comments! ❤️
Short
by HAMED_AZ
15
XAU spikes after newsPreviously, gold was under pressure from expectations of a 50 basis point interest rate cut by the US Federal Reserve (Fed) at its policy meeting next week, which is cooling down after the August consumer price index report increased. According to the latest report, the US CPI in August increased by 2.5% compared to the same period, lower than the forecast of 2.6% and down significantly from 2.9% in July. According to experts, the August CPI report shows that the US core inflation is still high, not enough to make the Fed decide to cut interest rates by 50 basis points.
OANDA:XAUUSD
by NicoTradingMaster
"DAX Index Rises Ahead of ECB Meeting"In the U.S., the consumer price index increased by 0.2% in August, while the annual rise was 2.5%, aligning with forecasts. Following the drop in inflation, the likelihood of the Fed implementing a 25 basis point rate cut next week has risen to 85%. After this data release, market risk appetite increased, leading to intensified buying activity in the DAX index. Today, there is an expectation of a 25 basis point rate cut in the European Central Bank (ECB) meeting. Technically, on the upside if the price holds above the 18,500 resistance, buying could push the index first toward the 18,700 resistance and then to 18,900. if the 18,500 level is broken to the downside, a pullback could extend first to the 18,285 support and then to 18.075.
XETR:DAX
by primequotes
Will UKOIL continue its decline?The U.S. Energy Information Administration (EIA) announced that global oil demand will reach a higher level this year, while noting that the increase in production will be lower than previously forecasted. Additionally, the EIA reduced its price forecast for Brent crude oil in 2024 by 2.4%, from $84.44 per barrel to $82.80 per barrel. As a result, Brent crude oil prices fell to the $70.0 level. Technically, if the 69.30 support level is broken, further declines toward 67.50 and 65.60 are possible. On the upside, if the 71.50 resistance is surpassed, buying momentum could accelerate toward the 73.0 and 74.30 resistance levels.
TVC:UKOIL
by primequotes
Silver is Rising!With the weakening of the U.S. labor market, expectations for a 25 basis point rate cut by the Fed remain intact. In this context, U.S. 10-year Treasury yields have turned downward. The dollar's depreciation in yesterday's session led to a recovery in commodities, supporting a rebound in silver prices from the 27.75 level. The inflation data to be released today will provide further clues regarding the extent of the Fed's interest rate cuts. From a technical perspective, if prices hold above the 28.90 resistance level, a rise to 30.0 and then to 30.80 could occur. On the downside, if the price falls below the 27.75 support level, it could decline to 26.75 and then to 25.70.
OANDA:XAGUSD
by primequotes
DAX Index Recovers Its Losses!Following the release of the U.S. non-farm payroll report, which came in below expectations, market risk appetite weakened. The DAX index also accelerated its decline, targeting the 18,257 support level. Expectations for a Fed rate cut have strengthened to 50 basis points, while the ECB is expected to lower rates by 25 basis points at its meeting this week. Technically, if the 18,285 level is broken on the downside, a pullback could extend first to the 18,075 support and then to 17,920. On the upside, if the price holds above the 18,500 resistance, buying could push the index first towards the 18,700 resistance and then to 18,900.
XETR:DAX
by primequotes
"USOIL is going downward"The weakening labor market has reduced risk appetite in the markets, triggering a drop in crude oil prices toward the 67.50 level. Additionally, OPEC+'s crude oil production in August decreased by 300,000 barrels due to declines in Libya and Kazakhstan. However, ongoing supply concerns continue to pressure the commodity. Technically, if the 67.50 support level is broken, further declines toward 65.55 and 63.55 are possible. On the upside, if the 70.0 resistance is surpassed, buying momentum could accelerate toward the 72.60 and 74.50 resistance levels.
TVC:USOIL
by primequotes
USD/ZAR Reaches Key Demand Zone: Are We Set for a Reversal?The USD/ZAR currency pair has reached a significant demand area around the 17.72800 level, presenting a potential opportunity for a long position. This critical zone has caught the attention of traders and market analysts alike, especially those looking for a reversal setup based on market positioning data and technical indicators. COT Report Insights: A Contrarian Indicator A deeper dive into the Commitment of Traders (COT) report reveals intriguing insights into market sentiment for the USD/ZAR pair. The data shows a notable divergence between retail traders and commercials. Currently, retail traders are predominantly short on the USD/ZAR, betting on further declines in the pair. On the other hand, commercials—who often represent larger, more informed institutional players—are also short on the Rand in the Weekly Futures market. This contrarian stance by retail traders and commercials indicates that a significant market move may be on the horizon. Market Positioning and the Case for a Reversal The current market positioning suggests a classic oversold condition for the USD/ZAR pair. An oversold market is typically characterized by excessive selling pressure that has pushed prices lower than what underlying fundamentals might justify. This often leads to a potential reversal as market forces balance out and traders begin to cover their short positions. The convergence of these factors—an oversold technical condition, retail traders being heavily short, and commercials positioning themselves short on the Rand—sets the stage for a possible bullish reversal. Such a scenario could see the USD/ZAR pair rebound from the current demand area and make a move higher, as buying interest emerges to drive the pair up from its current levels. Technical Analysis Supports Bullish Outlook From a technical perspective, the 17.72800 demand zone has historically served as a strong support level, where buying pressure has previously emerged. This zone has acted as a magnet for price action, attracting significant buying interest whenever the pair has approached it. The current price action shows signs of stabilization around this key area, further bolstering the case for a bullish reversal. Additionally, the presence of bullish reversal patterns or signals, such as candlestick formations or momentum indicators turning upward from oversold levels, would add further confirmation to the potential for an upward move. Traders and analysts are closely monitoring the price action for these confirming signals to enter long positions with more confidence. Conclusion: Preparing for a Bullish Reversal Given the convergence of factors—COT report insights, oversold conditions, and technical support at the demand zone—the USD/ZAR pair appears primed for a potential bullish reversal. Traders should keep a close watch on upcoming price action and market data for further clues on the timing and strength of this anticipated move. As always, it's essential to manage risk carefully and consider both fundamental and technical aspects when planning trades. With the USD/ZAR trading near critical levels, a well-timed entry could offer a favorable risk-reward setup for those anticipating a reversal and subsequent upward movement in the pair. ✅ Please share your thoughts about USD/ZAR in the comments section below and HIT LIKE if you appreciate my analysis. Don't forget to FOLLOW ME; you will help us a lot with this small contribution.
Short
by FOREXN1
1
USD Recovery Gains Momentum Ahead of Core PPI and Unemployment..As the market gears up for the release of key economic indicators such as the USD Core PPI m/m, PPI m/m, and Unemployment Claims, the USD has shown signs of recovery. This rebound began yesterday and has continued into today’s London session, where the USD/JPY pair is trading around 143.50 as I write this article. The pair’s recent movement follows a strong carry trade impact on the JPY, which caused the price to drop significantly from the 162 level to where we find it today. However, the USD/JPY has encountered a demand zone, showing signs of potential stabilization. Supporting this outlook is the latest Commitment of Traders (COT) report, which indicates that retail traders are still predominantly short on the pair, while fund managers have begun adding to their long positions, signaling a possible shift in sentiment. From a technical standpoint, this setup presents a favorable opportunity for a long position, aligning with forecasts we've been tracking over the last two weeks. The pair's current price action and its position near the demand zone suggest the potential for a reversal. Today’s economic releases will be crucial in determining the next move for the USD/JPY. The data could provide further clarity on the USD’s recovery path and offer a better understanding of the broader market environment. For now, traders eyeing long positions will be watching the news closely, awaiting confirmation of the technical and fundamental cues aligning for the pair. JPY Futures - Weekly Chart. ✅ Please share your thoughts about USD/JPY in the comments section below and 👍 HIT LIKE if you appreciate my analysis. Don't forget to FOLLOW ME; you will help us a lot with this small contribution.
Long
by FOREXN1
3