The silver trading position was stopped out because the price fell and crossed the stop-loss. Today, I tried the USD/JPY pair with a buy limit option because the USD still tends to be strong in the short term.
Silver prices appear to remain under downward pressure, impacted by the strengthening of the USD, which has become a safe-haven currency amid Middle East tensions. The Fed's interest rates remain high, potentially putting pressure on silver. Here, consider taking a short position with a pending order.
Gold prices rose yesterday amid hopes for peace talks between the US and Iran, focusing on opening the Strait of Hormuz for commercial trade. The USD weakened but rebounded. If talks intensify and improve, gold is expected to rise again. On the hourly chart, gold formed a bullish candle after a decline. Here, a buy order is opened with a stop-loss below the low.
Gold and silver prices rose yesterday, as Trump rejected the Iran proposal, tensions in the Strait of Hormuz persisted, and energy prices remained high. When the USD falls, gold tends to rise, but volatility remains high. While awaiting the US CPI data, I attempted to place a buy limit on gold.
Gold and silver prices are supported by geopolitical uncertainty in the Middle East, but silver remains sensitive to changes in the strength of the USD. Rising US inflation has dampened expectations of a Fed rate cut, and the USD strengthened after the data release. However, the market remains sensitive to headline updates on the US-Iran war. I hold a buy limit order on silver.
USDJPY is consolidating and tends to be stable in the range of 158.75 to 159.03. Here I am still holding a long position on USDJPY with a stop loss around 158.215.
The FOMC document indicates that the Fed is likely to keep interest rates high for longer, with market expectations remaining until the end of 2026. AUDUSD remains vulnerable to geopolitical developments in the Middle East. Here, I speculated by opening a Sell position and placing a stop-loss above the high.
There are expectations of de-escalation between the US and Iran following the White House's statement that a US-Iran peace deal is nearing completion and that the ceasefire will be extended for 60 days. Trying to buy limit on gold.
USD/CAD is trending moderately bullish, strengthening the USD amid expectations of prolonged high interest rates. Today's focus is on the release of key US economic data, including preliminary GDP and the PCE price index, which could be key drivers.
Gold prices rebounded over the weekend, then corrected. The Fed's interest rate remains high, and they are now attempting to place a pending sell limit order near the nearest resistance.
