Daily Market Analysis from ForexMart

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  1. #951
    Senior Member KostiaForexMart's Avatar
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    Daily Market Analysis from ForexMart
    Trading plan for EUR/USD on October 25, 2021

    The EUR/USD pair's upward movement is an impulse. The upward target remains the Weekly Control Zone of 1.1717-1.1700. It is necessary to fix purchases when testing this zone.

    Trading in an upward direction remains a priority. Today, the main plan is to retain purchases. Based on our plan, favorable prices were obtained during last week's second half, that is, when testing the WCZ 1/4 1.1625-1.1621. When retesting the high of the previous week, transferring the position to breakeven is necessary.

    A three-day flat can be an excellent support in the future for the re-purchase the euro. It is not profitable to consider the option of selling, since this requires the formation of a "absorption" pattern of the daily level.

    It is necessary to consider corrective patterns when trading upward for repeated purchases when exiting the local flat of the last three days.
    Regards, PR-Manager ForexMart

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    Forecast for USD/JPY on October 26, 2021

    As we expected on Monday, the price spent the entire day sideways. The close of the daily candle was white, and the upward sentiment remained. The growth target is 115.80, and the signal level for continued growth to the target is the resistance at 114.45, which stopped the price on October 15, 18 and 21. The Marlin Oscillator is moving horizontally, which keeps the likelihood of a continuation of the downward correction to the support of the price channel line at 113.12 at about 35% - just like yesterday.

    On the four-hour chart, the Marlin Oscillator crossed the border into bull territory. The price develops growth under the balance and MACD indicator lines, which creates difficulties for it. The MACD line is located near the signal level of 114.45, respectively, the price transition above the signal level will give the price an accelerated growth. We are waiting for the development of events.
    Regards, PR-Manager ForexMart

  3. #953
    Senior Member KostiaForexMart's Avatar
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    in ro ham eslah kon:
    Gold will confidently reach the $ 3,000 mark in a few months

    Gold has been recently rebounding a lot at the level of $ 1,800. However, experts believe that it will not only be able to break out of this narrow range but will also start a confident rally.

    On Tuesday, the yellow asset failed to withstand the onslaught of a stronger US dollar and fell below the psychologically important level of $ 1,800, which it broke a day earlier. As a result, the session on the New York Stock Exchange COMEX bullion ended with a decline. Gold plummeted by 0.7%, or $13.40, dropping to $1,793.40.

    Meanwhile, silver also changed the route to a downward one. Yesterday, the gray asset sank by 2.1% or 50 cents. It was last seen at the level of $24,088.

    The main downward factor for precious metals was the growth of the US currency. On October 26, the dollar index rose 0.2%. The US dollar was supported by new economic statistics.

    On Tuesday it became known that the American consumer confidence index rose to 113.8 in October compared to the revised value of 109.8 in September.

    The prices for the yellow metal fell on the same day amid investors' profit-taking. Despite the decline in the value of the asset, experts emphasize that an upward trend remains on the gold's daily chart.

    Analyst Chintan Karnani believes that bullion has a chance to continue its short-term rally if quotes break through the key level of $ 1,800 again. At this stage, gold has all the prerequisites to do this.

    Now, when the whole world is afraid of rising prices again and is on the verge of hyperinflation, the demand for the precious metal is growing noticeably, since gold is traditionally considered one of the best tools for hedging inflationary risks.

    Many traders have already realized that central banks are wrong and global inflationary pressure will not be temporary. Analyst David Garofalo predicts that when the majority understands this, gold will move to steady growth.

    The expert believes that after this strong aftershock occurs in the precious metals market, the asset will not only break its previous record but also soar much higher than $ 2,000. According to him, the price of bullion can reach the $ 3,000 mark.

    Moreover, this will not happen within a few years, as other analysts predicted earlier, but literally in a few months. The rally of gold will be very rapid, D. Garofalo is convinced.

    At the same time, his colleagues warn investors about the existing risks. The growth potential of the precious metal may be severely limited by forecasts regarding a more rapid increase in real interest rates by the US Federal Reserve.

    Analysts advise traders to monitor any comments from the regulator on the pace of future rate increases. The next meeting of the Federal Reserve, where this issue may be raised casually, will be held on November 2-3.

    The central theme of the meeting should be the beginning of a reduction in bond purchases. Statements on this topic can also affect the value of gold. Experts predict that a more rapid curtailment of incentives will lead to a decrease in quotes.
    Regards, PR-Manager ForexMart

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