Gold (XAUUSD) continues to correct, falling to the area near 2,600 USD
The XAUUSD price continues to correct downwards following Friday’s positive US labour market data release. Today’s market focus is on the Fed meeting minutes. Our XAUUSD analysis for today, 9 October 2024, provides further details and insights.
XAUUSD technical analysis
Gold prices continue to correct moderately as part of the uptrend. A triangle technical pattern has formed on the H4 chart, and the quotes fell below its lower boundary at 2,630 USD yesterday. Subsequently, they declined to the target support area near 2,600 USD, where the quotes encountered demand from buyers.
Gold prices are moderately correcting downwards, edging down to the support area near 2,600 USD.
Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.
AUDUSD quotes have halted their decline and are attempting to reverse upwards after encountering demand from buyers near 0.6700. More details can be found in our analysis for 10 October 2024.
AUDUSD technical analysis
The AUDUSD H4 chart shows that the market is forming a consolidation range around 0.6735. The AUDUSD rate is expected to break below this range and reach the target level of 0.6682 today, 10 October 2024.
The AUDUSD pair is still trading within a downward correction.
Attention! Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.
NZDUSD rises, with the market recouping previous losses
The NZDUSD pair is rising, and investors are buying the Kiwi at lows. Discover more in our analysis for 11 October 2024.
NZDUSD technical analysis
The NZDUSD H4 chart shows that the market has completed a downward wave, reaching 0.6051. A consolidation range has formed above this level. It is worth considering a breakout above the range towards the first target of 0.6138 today, 11 October 2024.
The NZDUSD pair is poised for a recovery after a sell-off phase.
Attention! Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.
EURUSD under pressure: the Fed holds off on rate cuts
The EURUSD rate is poised for another test of the EMA-200. Find out more in our analysis for 14 October 2024.
EURUSD technical analysis
The EURUSD H4 chart shows that the market has completed a growth wave, reaching 1.0953, and corrected towards 1.0926, forming the boundaries of a consolidation range around 1.0926. The market has broken below the 1.0926 level. The range could extend towards 1.0898 today, 14 October 2024.
The EURUSD rate declines further amid expectations that the Federal Reserve will hold back from substantial interest rate cuts this year.
Attention! Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.
USDJPY under pressure: uncertainty about Japan and China intensifies
The USDJPY rate is slightly declining after rising for two trading sessions. Find out more in our analysis for 15 October 2024.
USDJPY technical analysis
The USDJPY H4 chart shows the market has broken above the consolidation range at 149.30. A growth structure is expected to develop today, 15 October 2024, aiming for 150.20. After reaching this level, the USDJPY rate could decline to 149.30 (testing from above).
The USDJPY rate remains under pressure amid uncertainty about the BoJ’s monetary policy and the yen’s weakness due to China’s fiscal stimulus package.
Attention! Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.
EURUSD: New York manufacturing activity fell to its lowest level since May
The EURUSD rate has been declining for the third consecutive trading session. More details are available in our analysis for 16 October 2024.
EURUSD technical analysis
The EURUSD H4 chart shows that the market has completed a downward wave towards 1.0881, extending the boundaries of the consolidation range around 1.0916. The price could rise to 1.0916 (testing from below) today, 16 October 2024. After reaching this level, the EURUSD rate is expected to plunge to 1.0833.
The data on declining manufacturing activity in New York may deter further declines in the EURUSD rate. This week’s crucial economic reports, including US retail sales and industrial production, may determine the pair's future direction.
Attention! Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.
The XAGUSD price steadily rose after reversing from the support level near 30.00 USD. The trend is upward, and it is likely to continue. Our XAGUSD analysis for today, 17 October 2024, provides more details and insights.
XAGUSD technical analysis
XAGUSD quotes continue to rise gradually after receiving strong support from buyers in the price area near 30.00 USD and reversing upwards. Market participants now focus on an annual high of 32.95 USD. If the price surpasses this level, there is potential for growth to 35.00 USD.
Silver (XAGUSD) quotes continue ascending within the uptrend, potentially reaching an all-time high of 32.95 USD in the short term.
Attention! Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.
The XAUUSD price continues its upward rally, reaching a new all-time high of 2,714 USD today. The next growth target could be the 2,750 USD level. Our XAUUSD analysis for today, 18 October 2024, provides more details and insights.
XAUUSD technical analysis
Gold rises steadily within an uptrend after a bullish engulfing candlestick reversal pattern formed on the daily chart last week. The quotes are now trading around 2,705 USD, with strong upward momentum continuing.
Gold (XAUUSD) prices continue their upward surge within the uptrend, reaching a new all-time high of 2,714 USD.
Attention! Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.
The GBPUSD pair has halted its decline and is stabilising. The pound appears oversold. More details in our analysis for 21 October 2024.
GBPUSD technical analysis
The GBPUSD H4 chart shows that the market has completed a corrective wave, reaching 1.3070. A consolidation range is forming below this level today, 21 October 2024, with the potential to extend up to 1.3074. A decline and a breakout below the 1.3019 level will open the potential for further movement towards 1.2940, the first target.
The GBPUSD pair has rebounded, taking advantage of the stabilising US dollar and market expectations.
Attention! Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.
USDCHF: the franc is under pressure due to easing inflation
The USDCHF rate slightly declines on Tuesday. More details in our analysis for 22 October 2024.
USDCHF technical analysis
The USDCHF H4 chart shows that the market has formed a consolidation range around 0.8637. The price is expected to break above the upper boundary of this range and rise to 0.8717 today, 22 October 2024.
The USDCHF rate remains under pressure amid expectations of policy easing by the Swiss National Bank and the strength of the US dollar.
Attention! Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.
