#Market Analysis of EURUSD

[elliottwavemonitor]

GOLD & GBPJPY

[primexalgo]

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Forex Trading Strategies: Navigating Market Trends Amid Economic Shifts

Forex traders need adaptable strategies to thrive in unpredictable market conditions. This post focuses on forex trading methods such as scalping, market trend analysis, and risk management.

Gold is currently experiencing bearish momentum, with RSI divergence suggesting further declines. While short-term pullbacks may occur, traders can capitalize on these movements with scalping strategies aimed at price dips.

Silver’s price action shows a pullback, but the overall market remains bearish. RSI and MACD signals hint at potential for a temporary rally. Scalping traders should focus on short-term selling opportunities.

The U.S. dollar continues to strengthen as inflation fears delay potential rate cuts. The DXY index reflects this, offering opportunities for traders to go long on USD pairs, including USDJPY and USDCHF.

GBPUSD is maintaining a bearish trend, with minimal resistance to further declines. Short-term pullbacks could offer opportunities for scalping, but the long-term outlook remains negative.

The Australian dollar is showing consolidation, lacking clear direction. Traders should wait for a breakout before entering positions, using proper forex risk control measures to manage volatility.

NZDUSD is in a downtrend, with RSI suggesting a possible short-term reversal. However, the broader trend remains bearish, offering short-term selling opportunities for scalpers.

EURUSD remains weak, with both RSI and MACD signaling further declines. Scalping traders can take advantage of short pullbacks while keeping a bearish outlook.

USDJPY continues its bullish momentum, supported by strong buying pressure. Traders should use caution and manage risk, looking for potential overbought signals.

USDCHF is moving upward, but a pullback seems likely. Traders can capitalize on small price movements through scalping strategies while managing risk.

USDCAD shows signs of a potential pullback after an uptrend. Traders should wait for confirmation and use forex signals to time entries and exits effectively.

With effective forex trading methods like scalping, market analysis, and risk control, traders can adapt to market fluctuations and maximize profits.

[feedyourmind1031]

 Economic Overview: Key Market Developments

Critical Update

Sudden market shifts may occur due to significant events. Monitor trading positions and implement risk management strategies during these uncertain times.

Economic Overview

As we enter a new quarter, the market faces numerous challenges. Rising war tensions, de-dollarization efforts, and upcoming elections in the U.S., France, and Iran contribute to the uncertainty. Here’s a detailed analysis of these developments and their potential impacts.

Currency Shifts

Russia’s move to use the Chinese Yuan for international trade and the increase in gold reserves by central banks are noteworthy. While the Yuan may not replace the U.S. Dollar soon, these actions indicate strategic shifts. Gold purchases serve as a hedge against potential currency volatility.

Geopolitical Conflicts

Middle East: The conflict between Israel and Hezbollah in Lebanon has intensified, with Iran warning of severe retaliation if Lebanon is attacked. Daily strikes continue, and countries like the U.S. and Germany have advised their citizens to leave Lebanon.

South China Sea: On June 19, 2024, Chinese coast guard officers attacked Philippine military personnel near the Second Thomas Shoal, escalating tensions. The U.S. has reaffirmed its defense treaty with the Philippines, which could lead to military involvement if violence escalates.

Korean Peninsula: North and South Korea are on edge, with Russia signing a defense treaty with North Korea. Border incidents and threats over South Korea’s potential troop deployment to Ukraine have heightened tensions.

Nuclear Brinkmanship: France and Russia’s nuclear brinkmanship is a significant risk, with both countries attempting to establish deterrent boundaries.

Economic and Market Effects

These conflicts could alter monetary power dynamics and supply chains. Expect increased oil demand and gold purchases as safe-haven assets. Silver demand will also rise due to its military applications.

Diplomatic Relations

Zimbabwe and Zambia: Tensions are high as Zimbabwe aligns more closely with Russia, accusing the U.S. of militarizing Zambia.

Election Updates

Iran: Presidential elections are nearing completion as candidates drop out.

France: The first stage of snap parliamentary elections is complete.

U.S.: The first debate between Biden and Trump was contentious, adding to the uncertainty of the upcoming election.

Natural Disaster Considerations

While not detailed here, it’s crucial to consider the impact of natural disasters on economic activities and implement strong risk management.

Key Market Data and Analysis

Final GDP: Increased from 1.3% to 1.4%.

Unemployment: Fell by 3k more than forecasted, indicating a stronger U.S. economy.

Core PCE: Decreased from 0.3% to 0.1%.

Consumer Confidence: Fell but remained above forecasted numbers.

Housing Market: New home sales dropped significantly, while pending home sales improved slightly but missed expectations.

GOLD

Gold prices remain within a range, with resistance at 2431.705 and support at 2295.536. A bullish trend is expected despite fluctuations.

SILVER

Silver prices showed growth, reaching 29.900 before settling at 29.018. Resistance is expected at 29.900, but an overall upward trend is anticipated.

DXY (Dollar Index)

The dollar index showed growth but may face weakness with the anticipated September rate cut. A bearish outlook is expected.

GBPUSD

The pound remains within a range. With potential rate cuts in both the U.K. and the U.S., significant price changes are unlikely in the near term.

AUDUSD

The Aussie dollar shows upward momentum but needs to break above 0.67142 to confirm this trend. Analysts predict rate cuts only in late 2025, potentially benefiting the currency.

NZDUSD

Similar to the Aussie dollar, the New Zealand dollar shows growth and may benefit from delayed rate cuts until late 2025.

EURUSD

The ECB’s cautious rate cut approach has weakened the Euro. Further cuts are expected but at a slower pace, indicating potential continued weakness.

USDJPY

Despite interventions, the USDJPY continues to grow. Watch for further interventions and economic data to gauge future movements.

USDCHF

The Swiss Franc fell after recent rate cuts. Further rate cuts are uncertain, making the USDCHF volatile.

USDCAD

The CAD showed weakness against the dollar, with analysts predicting further rate cuts. Price consolidation is expected as we await more data.

Stay informed and practice diligent risk management as we navigate these challenging market conditions. More updates to come.

[sepblogs1211]

Gold, Dollar, and Forex Trends: NFP Impact on Markets

GOLD

Gold recently underwent a correction, and while current highs are flagged as overbought by the RSI, the market remains bullish. The MACD shows fading selling momentum and hints of renewed buying strength. The quantitative forex models suggest that further upward movement is likely, but significant movement may not occur until after the release of NFP reports. The EMA200 remains far below current price levels, indicating that further buying is possible if momentum persists.

SILVER

Silver remains in consolidation, awaiting direction from gold prices. While the broader outlook for silver is bullish, it relies heavily on gold's price action post-NFP. The MACD shows a cross with low volume, while the RSI indicates increased buying momentum without signaling overbought conditions. For traders using regulated MetaTrader platforms, silver provides a stable environment, with resistance still firm at 32.5177.

DXY

The Dollar Index (DXY) is consolidating as the market anticipates jobs data. The RSI previously hit oversold conditions, and the MACD suggests potential bearish continuation. A bearish outcome post-NFP is expected, reinforcing the probability of a Fed rate cut later this year. For those employing forex scalping automation, short-term opportunities may emerge as momentum remains firmly bearish.

GBPUSD

The Pound continues consolidating after pulling back from recent highs. The RSI calls for overbought conditions, hinting at further selling potential. The MACD suggests room for downside, though the Bank of England’s recent rate cut provides bullish momentum. Traders looking to compound forex profits may find value in this consolidation phase, using strategic entry points after the NFP report.

AUDUSD

The Aussie Dollar is holding above its prior consolidation zone’s resistance, which now acts as support. The RSI signals overbought conditions, and the MACD shows muted volume. However, with the possibility of a Fed rate cut after the jobs report, continued bullish momentum is likely. Traders using forex scalping automation can leverage these short-term fluctuations to maximize returns.

NZDUSD

The Kiwi Dollar shows strong buying momentum, with the MACD crossing up and the RSI reflecting overbought levels. Prices remain capped under 0.56869, suggesting consolidation. While the market favors bullish momentum, the quantitative forex models indicate that the NFP report will determine the next significant move. EURUSD: The Euro has struggled to capitalize on the dollar’s weakness, reflecting weaker Euro fundamentals. The RSI indicates overbought conditions, and the MACD shows muted bullish volume. Until NFP data is released, sentiment for the Euro remains bearish. Hedging with multiple currencies can be a smart move here to manage risks in this uncertain environment.

USDJPY

The Yen has shown heightened selling momentum, with the RSI showing exaggerated levels during the correction. The MACD maintains bearish volume, and price action follows a consistent downtrend. For those using compounding forex profits, this downtrend presents opportunities to gain from sustained bearish movements, especially with NFP data looming.

USDCHF

The Swiss Franc bounced from support at 0.90054, with increased bullish momentum. However, the RSI indicates overbought conditions, and resistance near 0.90743 remains a challenge. Regulated MetaTrader platforms can offer precise entries and exits during this period of consolidation, with a bearish sentiment likely to resume after the jobs report.

USDCAD

The Canadian Dollar is consolidating at prior swing lows, acting as temporary support. The RSI signals oversold conditions, while the MACD shows muted volume with unclear direction. The forex scalping automation approach may be effective here, as traders monitor NFP data to see whether this support level holds or breaks.

COT REPORT ANALYSIS

AUD - WEAK (5/5)

GBP - WEAK (4/5)

CAD - WEAK (4/5)

EUR - WEAK (4/5)

JPY - WEAK (1/5)

CHF - WEAK (5/5)

USD - STRONG (4/5)

NZD - WEAK (4/5)

GOLD - STRONG (5/5)

SILVER - STRONG (4/5)

[marcedrickirby]

Webull · Summary for Euro/USD

https://www.webullapp.com/ticker/FX-EURUSD?hl=en

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[smartfx]

Daily Market Analysis | Smartfx

EURUSD

Bias:Bearish

We look to Sell at 1.1025 with target prices of 1.0944 and 1.0910, and a stop price of 1.1065

Confidence: 40%

Technical Analysis

After strong selling pressure at the start of the week the pair consolidated yesterday with little net change and all price action within the lower half of the previous day's range. Levels close to the 61.8% pullback level of 1.0944 found buyers. There is no clear indication that the downward move is coming to an end. There is scope for mild buying at the open but gains should be limited. The medium term bias is neutral.

Resistance 1

1.1025

Resistance 2

1.1075

Resistance 3

1.1209

Support 1

1.0944

Support 2

1.0896

Support 3

1.0778

GBPUSD

Bias:Bullish

We look to Buy at 1.3040 with target prices of 1.3240 and 1.3300, and a stop price of 1.2990

Confidence: 60%

Technical Analysis

The primary trend remains bullish. The previous swing low is located at 1.3000. We look for a temporary move lower. Preferred trade is to buy on dips. Bespoke support is located at 1.3040.

Resistance 1

1.3170

Resistance 2

1.3240

Resistance 3

1.3300

Support 1

1.3040

Support 2

1.2990

Support 3

1.2960

EURCHF

Bias:Bearish

We look to Sell at 0.9430 with target prices of 0.9335 and 0.9305, and a stop price of 0.9455

Confidence: 60%

Technical Analysis

Trading has been mixed and volatile. We look for a temporary move higher. The hourly chart technicals suggests further upside before the downtrend returns. Preferred trade is to sell into rallies. Bespoke resistance is located at 0.9430.

Resistance 1

0.9430

Resistance 2

0.9450

Resistance 3

0.9480

Support 1

0.9370

Support 2

0.9340

Support 3

0.9310

USDJPY

Bias:Bullish

We look to Buy at 146.55 with target prices of 152.00 and 155.15, and a stop price of 145.05

Confidence: 20%

Technical Analysis

Closed the day little net changed. Buying posted in Asia. We are trading at overbought extremes. A Fibonacci confluence area is located at 155.15. Preferred trade is to buy on dips.

Resistance 1

149.00

Resistance 2

152.00

Resistance 3

155.15

Support 1

146.55

Support 2

143.55

Support 3

141.65

Gold

Bias:Bearish

We look to Sell at 2637.5 with target prices of 2592.5 and 2582.5, and a stop price of 2655.5

Confidence: 60%

Technical Analysis

Short term bias has turned negative. Previous support level of 2635 broken. Previous support at 2635 now becomes resistance. The bearish engulfing candle on the 4 hour chart is negative for sentiment. 50 4hour EMA is at 2639.8. Preferred trade is to sell into rallies.

Resistance 1

2624.3

Resistance 2

2635.0

Resistance 3

2650.0

Support 1

2604.8

Support 2

2590.0

Support 3

2570.0

WTI

Bias:Bullish

We look to Buy at 73.07 with target prices of 77.92 and 80.00, and a stop price of 71.57

Confidence: 20%

Technical Analysis

Selling pressure from 79.09 resulted in all the initial daily gains being overturned. Intraday, and we are between bespoke support and resistance 73.07-77.92. Dips continue to attract buyers. The bias remains mildly bullish but there is scope for a move in either direction at the open. The medium term bias is neutral.

Resistance 1

77.92

Resistance 2

80.00

Resistance 3

88.00

Support 1

73.51

Support 2

73.07

Support 3

67.11

Disclaimer:

This email, including any attached analyses, data, and visual content, is shared with you "as is," without any guarantees, either expressed or implied. As a third-party broker, we wish to clarify that while the information originates from sources deemed reliable, such as materials under the Signal Centre brand managed by PIA-First (an entity regulated by the FCA, license FRN 787261), we do not provide any warranty for its accuracy or completeness. Furthermore, this communication should not be interpreted as investment advice, a recommendation, or an offer to engage in securities transactions. It is crucial for recipients to conduct their own due diligence, remain informed about current market conditions, and consider seeking advice from independent financial advisors before making investment decisions. Trading involves substantial risk, including the possibility of losses exceeding your initial investment. We urge caution and recommend consulting with a professional advisor to mitigate potential losses and navigate the complexities of financial markets responsibly.

Risk Warning:

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Past performance is not an indication of the future performance. It is the responsibility of the Client to ascertain whether he/she is permitted to use the services of the SmartFX brand based on the legal requirements in his/her country of residence.

For further queries, please feel free to contact us.

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[accapitalmarket]

FX outlook: A submissive USD meets alpha AUD, JPY tumbles

The US markets were closed on Monday due to Labor Day holiday. During the shortened trading day of futures, traders found that both trading volume and price fluctuations were significantly lower than average. Therefore, today we turn our attention to the forex market.

After a two-month consecutive decline, the U.S. Dollar Index (DXY) finally found a short-term bottom at the support level of 100.357 and has recently rebounded, driven by solid U.S. economic data.

In last Wednesday night's "Financial Frontline" webinar hosted by the Research Department, I once again emphasized the fundamental change in market pricing rules, which also signifies a 180-degree shift in the dollar pricing logic. Good economic data is no longer bearish because the inflation problem has become a thing of the past. Thus, solid economic growth data is no longer a reason for investors to price in continuous Fed rate hikes or to keep rates high for an extended period. On the contrary, robust economic data is the most crucial prerequisite for a soft landing of the U.S. economy.

Therefore, good data is the driving force behind the stock market's rise and the dollar's moderate rebound, and this is the pricing and analysis logic that investors must quickly adapt to.

This week's series of significant U.S. economic data will naturally be the core drivers of the forex market, the stock market, and major assets like gold: the two sets of U.S. PMI data on Tuesday and Wednesday, the import and export and trade balance data on Wednesday, the job openings report on Thursday, and most importantly, the non-farm payroll data on Friday.

From a technical analysis perspective, the dollar's rebound has caused varying degrees of pullback in non-dollar currency pairs, with the yen showing the most noticeable decline. USDJPY rebounded from the support level of 143.691 and, after breaking through the resistance level of 145.942, has now reached below 146.921.

The euro and pound exhibited similar movements, with EURUSD and GBPUSD both pulling back after consecutive rallies in recent periods. However, the downward channels and downward trendlines that emerged during the pullback have slowed significantly. Traders can look for short-term breakout opportunities using the key levels in the charts below, along with this week's important economic data.

Among the non-dollar currency pairs, the Australian dollar remains the strongest, having recently shown the most significant gains. AUDUSD recorded a 7% rebound within a month and briefly broke through the 0.68 mark, but it has since pulled back to a certain extent. However, it still remains above the support level of 0.67535, forming a range-bound movement between this level and the upper resistance level of 0.67971. Traders should pay attention to the Australian export data to be released at 11:30 AM (Beijing time 09:30) this morning.

If the data exceeds expectations, the Australian dollar could gain more upward momentum.

Disclaimer:

The information contained in this market commentary is of general nature only and does not take into account your objectives, financial situation or needs. You are strongly recommended to seek independent financial advice before making any investment decisions.

Trading margin forex and CFDs carries a high level of risk and may not be suitable for all investors. Investors could experience losses in excess of total deposits. You do not have ownership of the underlying assets. AC Capital Market (V) Ltd is the product issuer and distributor. Please read and consider our Product Disclosure Statement and Terms and Conditions, and fully understand the risks involved before deciding to acquire any of the financial products provided by us.

The content of this market commentary is owned by AC Capital Market (V) Ltd. Any illegal reproduction of this content will result in immediate legal action.

[mortallyrainyobject]

Trade GPT App: A Premier Trading Solution for Canada

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Canadian traders will appreciate the app's user-friendly interface and robust security measures. The platform's intuitive design makes it easy to navigate, while state-of-the-art encryption protocols safeguard your data and transactions. With Trade GPT App, you can trade with confidence, knowing that your investments are protected.

The Trade GPT App is optimized for trading on the EURUSD pair using the M1 timeframe. With a recommended minimum trading capital of just $300, it is accessible to a wide range of traders. The app's settings allow for precise control over risk management, lot sizes, and stop-loss levels, ensuring that you can tailor your trading experience to your individual needs.

What sets Trade GPT App apart is its transparency and reliability. Unlike other trading bots that rely on opaque strategies, Trade GPT App provides clear insights into its trading approach. The app employs a trailing stop-loss mechanism to lock in profits and manage risk effectively. This transparency builds trust and enables traders to make informed decisions.

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In conclusion, Trade GPT App is an exceptional trading tool that offers Canadian traders Trade GPT Investment a reliable, efficient, and transparent way to navigate the financial markets. With its advanced features, user-friendly interface, and strong security measures, Trade GPT App is poised to become a favorite among traders in Canada. Experience the future of trading with Trade GPT App and take your trading to the next level.

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Blue Space EA: Your Ticket to Passing Prop Firm and FTMO Challenges

Blue Space EA – Unique Trading Strategy Introduction Blue Space EA is an expert advisor designed for the MetaTrader 4 platform, optimized for the AUDNZD, NZDCAD, AUDCAD currency pairs and EURGBP, EURUSD, GBPUSD, USDCAD, GBPCAD, EURCAD. It leverages a sophisticated algorithm based on advanced market analysis to provide consistent trading results. Key Features 1. Versatile Strategy: – Utilizes…

[axelpvtmkt]

Market Insights: Current Trends and Future Projections

Critical Update

Sudden market shifts may occur due to significant events. Monitor trading positions and implement risk management strategies during these uncertain times.

Market Insights

As we enter a new quarter, the market faces numerous challenges. Rising war tensions, de-dollarization efforts, and upcoming elections in the U.S., France, and Iran contribute to the uncertainty. Here’s a detailed analysis of these developments and their potential impacts.

Currency Shifts

Russia’s move to use the Chinese Yuan for international trade and the increase in gold reserves by central banks are noteworthy. While the Yuan may not replace the U.S. Dollar soon, these actions indicate strategic shifts. Gold purchases serve as a hedge against potential currency volatility.

Geopolitical Conflicts

Middle East: The conflict between Israel and Hezbollah in Lebanon has intensified, with Iran warning of severe retaliation if Lebanon is attacked. Daily strikes continue, and countries like the U.S. and Germany have advised their citizens to leave Lebanon.

South China Sea: On June 19, 2024, Chinese coast guard officers attacked Philippine military personnel near the Second Thomas Shoal, escalating tensions. The U.S. has reaffirmed its defense treaty with the Philippines, which could lead to military involvement if violence escalates.

Korean Peninsula: North and South Korea are on edge, with Russia signing a defense treaty with North Korea. Border incidents and threats over South Korea’s potential troop deployment to Ukraine have heightened tensions.

Nuclear Brinkmanship: France and Russia’s nuclear brinkmanship is a significant risk, with both countries attempting to establish deterrent boundaries.

Economic and Market Effects

These conflicts could alter monetary power dynamics and supply chains. Expect increased oil demand and gold purchases as safe-haven assets. Silver demand will also rise due to its military applications.

Diplomatic Relations

Zimbabwe and Zambia: Tensions are high as Zimbabwe aligns more closely with Russia, accusing the U.S. of militarizing Zambia.

Election Updates

Iran: Presidential elections are nearing completion as candidates drop out.

France: The first stage of snap parliamentary elections is complete.

U.S.: The first debate between Biden and Trump was contentious, adding to the uncertainty of the upcoming election.

Natural Disaster Considerations

While not detailed here, it’s crucial to consider the impact of natural disasters on economic activities and implement strong risk management.

Key Market Data and Analysis

Final GDP: Increased from 1.3% to 1.4%.

Unemployment: Fell by 3k more than forecasted, indicating a stronger U.S. economy.

Core PCE: Decreased from 0.3% to 0.1%.

Consumer Confidence: Fell but remained above forecasted numbers.

Housing Market: New home sales dropped significantly, while pending home sales improved slightly but missed expectations.

GOLD

Gold prices remain within a range, with resistance at 2431.705 and support at 2295.536. A bullish trend is expected despite fluctuations.

SILVER

Silver prices showed growth, reaching 29.900 before settling at 29.018. Resistance is expected at 29.900, but an overall upward trend is anticipated.

DXY (Dollar Index)

The dollar index showed growth but may face weakness with the anticipated September rate cut. A bearish outlook is expected.

GBPUSD

The pound remains within a range. With potential rate cuts in both the U.K. and the U.S., significant price changes are unlikely in the near term.

AUDUSD

The Aussie dollar shows upward momentum but needs to break above 0.67142 to confirm this trend. Analysts predict rate cuts only in late 2025, potentially benefiting the currency.

NZDUSD

Similar to the Aussie dollar, the New Zealand dollar shows growth and may benefit from delayed rate cuts until late 2025.

EURUSD

The ECB’s cautious rate cut approach has weakened the Euro. Further cuts are expected but at a slower pace, indicating potential continued weakness.

USDJPY

Despite interventions, the USDJPY continues to grow. Watch for further interventions and economic data to gauge future movements.

USDCHF

The Swiss Franc fell after recent rate cuts. Further rate cuts are uncertain, making the USDCHF volatile.

USDCAD

The CAD showed weakness against the dollar, with analysts predicting further rate cuts. Price consolidation is expected as we await more data.

[primexalgo]

EURUSD 31 Consecutive Successes!

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[googleblogs123]

Market Analysis: Optimizing Forex Trading Strategies

GOLD – Gold prices have held steady, recovering slightly from previous lows. As traders anticipate a potential rate cut announcement this Thursday, we foresee a possible reversal, especially as the dollar strengthens. In this scenario, scalping trading systems may provide profitable short-term opportunities by capturing price fluctuations as momentum shifts.

The MACD shows weakened buying strength, while the RSI suggests overbought conditions, signaling weak momentum for further upward movement. This indicates a higher likelihood of continued selling, but traders can use signal-based trading systems to manage entry and exit points more effectively, ensuring optimized trades.

SILVER – Silver prices continue to decline, demonstrating strong bearish momentum. Analysts anticipate further selling, with the MACD and RSI both confirming continued downward movement. Using Forex risk management strategies, such as stop-loss orders, will be crucial in navigating this bearish trend.

DXY – The dollar shows slight easing ahead of the expected rate cut. Both the MACD and RSI indicate increased selling momentum, suggesting a potential shift. Market expectations for aggressive rate reductions next year have dimmed due to inflationary concerns, adding to market uncertainty. As traders analyze these shifts, forex trend forecasting tools can assist in predicting the future direction of the dollar.

GBPUSD – The pound maintains a bearish outlook, though both the MACD and RSI show signs of gaining bullish momentum. Traders can apply scalping trading systems to take advantage of short-term rallies while keeping an eye on the overall bearish trend ahead of upcoming rate decisions.

AUDUSD – The Australian dollar remains consolidated between identified key levels, with a lack of clear directional bias. The MACD suggests slowing momentum, while the RSI indicates neither overbought nor oversold conditions. Here, Forex risk management strategies are vital to minimize losses in this consolidating market.

NZDUSD – The Kiwi shows slight upward movement, but the MACD signals reduced buying strength. Despite the potential for short-term rallies, the broader trend remains bearish. Signal-based trading can offer traders real-time entry signals to capitalize on any temporary price movements.

EURUSD – The euro demonstrates growing bullish momentum. Supported by an increasing MACD and favorable RSI readings, the euro's upward movement looks promising. Forex trend forecasting techniques can assist traders in capitalizing on potential continued strength as the market reacts to Fed rate cuts.

USDJPY – The yen continues to weaken, with exaggerated selling levels despite minimal pullbacks. Both the MACD and RSI point to significant buying momentum. Traders awaiting the Bank of Japan's upcoming policy decisions can apply scalping trading systems to capture short-term movements while hedging against potential reversals.

USDCHF – The franc remains in consolidation, slightly below the 0.89431 mark. The MACD and RSI indicate growing strength for a potential continuation of buying momentum. Forex risk management strategies will be essential in managing the risks associated with potential breakouts.

USDCAD – The Canadian dollar shows increasing weakness against the U.S. dollar. The MACD is nearing a bullish crossover, signaling potential buying opportunities. Traders can leverage signal-based trading to track real-time data, capitalizing on upward movements and implementing Forex risk management strategies to protect their positions.

[physiotherapyseo]

Economic Overview: Key Market Developments

Critical Update

Sudden market shifts may occur due to significant events. Monitor trading positions and implement risk management strategies during these uncertain times.

Economic Overview

As we enter a new quarter, the market faces numerous challenges. Rising war tensions, de-dollarization efforts, and upcoming elections in the U.S., France, and Iran contribute to the uncertainty. Here’s a detailed analysis of these developments and their potential impacts.

Currency Shifts

Russia’s move to use the Chinese Yuan for international trade and the increase in gold reserves by central banks are noteworthy. While the Yuan may not replace the U.S. Dollar soon, these actions indicate strategic shifts. Gold purchases serve as a hedge against potential currency volatility.

Geopolitical Conflicts

Middle East: The conflict between Israel and Hezbollah in Lebanon has intensified, with Iran warning of severe retaliation if Lebanon is attacked. Daily strikes continue, and countries like the U.S. and Germany have advised their citizens to leave Lebanon.

South China Sea: On June 19, 2024, Chinese coast guard officers attacked Philippine military personnel near the Second Thomas Shoal, escalating tensions. The U.S. has reaffirmed its defense treaty with the Philippines, which could lead to military involvement if violence escalates.

Korean Peninsula: North and South Korea are on edge, with Russia signing a defense treaty with North Korea. Border incidents and threats over South Korea’s potential troop deployment to Ukraine have heightened tensions.

Nuclear Brinkmanship: France and Russia’s nuclear brinkmanship is a significant risk, with both countries attempting to establish deterrent boundaries.

Economic and Market Effects

These conflicts could alter monetary power dynamics and supply chains. Expect increased oil demand and gold purchases as safe-haven assets. Silver demand will also rise due to its military applications.

Diplomatic Relations

Zimbabwe and Zambia: Tensions are high as Zimbabwe aligns more closely with Russia, accusing the U.S. of militarizing Zambia.

Election Updates

Iran: Presidential elections are nearing completion as candidates drop out.

France: The first stage of snap parliamentary elections is complete.

U.S.: The first debate between Biden and Trump was contentious, adding to the uncertainty of the upcoming election.

Natural Disaster Considerations

While not detailed here, it’s crucial to consider the impact of natural disasters on economic activities and implement strong risk management.

Key Market Data and Analysis

Final GDP: Increased from 1.3% to 1.4%.

Unemployment: Fell by 3k more than forecasted, indicating a stronger U.S. economy.

Core PCE: Decreased from 0.3% to 0.1%.

Consumer Confidence: Fell but remained above forecasted numbers.

Housing Market: New home sales dropped significantly, while pending home sales improved slightly but missed expectations.

GOLD

Gold prices remain within a range, with resistance at 2431.705 and support at 2295.536. A bullish trend is expected despite fluctuations.

SILVER

Silver prices showed growth, reaching 29.900 before settling at 29.018. Resistance is expected at 29.900, but an overall upward trend is anticipated.

DXY (Dollar Index)

The dollar index showed growth but may face weakness with the anticipated September rate cut. A bearish outlook is expected.

GBPUSD

The pound remains within a range. With potential rate cuts in both the U.K. and the U.S., significant price changes are unlikely in the near term.

AUDUSD

The Aussie dollar shows upward momentum but needs to break above 0.67142 to confirm this trend. Analysts predict rate cuts only in late 2025, potentially benefiting the currency.

NZDUSD

Similar to the Aussie dollar, the New Zealand dollar shows growth and may benefit from delayed rate cuts until late 2025.

EURUSD

The ECB’s cautious rate cut approach has weakened the Euro. Further cuts are expected but at a slower pace, indicating potential continued weakness.

USDJPY

Despite interventions, the USDJPY continues to grow. Watch for further interventions and economic data to gauge future movements.

USDCHF

The Swiss Franc fell after recent rate cuts. Further rate cuts are uncertain, making the USDCHF volatile.

USDCAD

The CAD showed weakness against the dollar, with analysts predicting further rate cuts. Price consolidation is expected as we await more data.

Stay informed and practice diligent risk management as we navigate these challenging market conditions. More updates to come.

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Gold Surges Amid Geopolitical Tensions & Forex Market Shifts

GOLD

Gold has reached record highs as geopolitical risks escalate. Reports indicate Iran is accelerating its nuclear program, heightening investor uncertainty. Former President Donald Trump suggested potential U.S. intervention in Gaza, later moderated by aides, while talks on renegotiating the Iran nuclear deal add to market volatility. Washington’s proposal for a resolution in the Russia-Ukraine conflict further complicates global markets. Technically, forex chart patterns indicate a bullish structure. The RSI reflects strong momentum, while algorithmic trading signals suggest potential resistance levels. However, the MACD signals a possible pullback, and the EMA200 remains a key support level. Unless a clear reversal emerges, gold's overall outlook stays bullish.

SILVER

Silver struggles to break past the 32.5177 resistance level. The RSI reflects consolidation with bullish undertones, and the MACD highlights limited selling pressure. Breakout trading methods indicate continued bullish potential, provided the market sustains its gradual buildup in buying interest.

DXY

The worldwide economic indicators signal a shift as the Dollar Index (DXY) slides below 107.834, confirming a bearish momentum. The MACD shows weak buying volume, while RSI indicates overbought conditions. The upcoming Non-Farm Payroll (NFP) report will be a crucial factor, but expectations of a prolonged rate cut cycle weigh on the dollar’s strength.

FOREX PAIRS

GBPUSD

The Pound surged past resistance before retracing amid speculation of a 92% chance of a rate cut. The MACD suggests strong momentum, while the RSI indicates oversold conditions, supporting potential bullish attempts. However, market direction hinges on upcoming economic data and central bank policy.

AUDUSD

The Australian Dollar sees buying pressure as the U.S. dollar weakens. The MACD hints at bearish undertones, but the RSI signals oversold conditions, aligning with capital distribution strategies. A continued bullish outlook is expected unless key support levels break.

NZDUSD

The Kiwi consolidates near 0.56859 after surpassing key resistance. MACD indicates low volume, while RSI suggests oversold conditions, pointing to further upside potential. If consolidation continues, a breakout higher may be in store.

EURUSD

 The Euro remains cautiously bullish, supported by the EMA200. RSI indicates buying interest, but resistance at swing highs restricts momentum. A potential breakout is likely, contingent on economic developments and market sentiment.

USDJPY

The Yen strengthens amid Bank of Japan rate hike expectations. The MACD recently crossed upward, signaling a short-term correction, while RSI reflects overbought dollar conditions. The downtrend holds as long as BOJ maintains a tightening stance.

USDCHF

 The Swiss Franc maintains its downtrend. The MACD presents mixed signals, while RSI indicates overbought conditions, reinforcing bearish momentum. The EMA200 acts as a resistance level, capping potential upside.

USDCAD

 The Canadian Dollar stabilizes near key support but remains in a broader bearish trend. The MACD suggests strong selling volume, while RSI signals overbought conditions, limiting upside potential. Consolidation may persist, but overall sentiment favors further downside.

COT REPORT ANALYSIS

AUD: WEAK (5/5) GBP: WEAK (4/5) CAD: WEAK (4/5) EUR: WEAK (4/5) JPY: WEAK (1/5) CHF: WEAK (5/5) USD: STRONG (4/5) NZD: WEAK (4/5) GOLD: STRONG (5/5) SILVER: STRONG (4/5)

These market movements align with forex chart patterns, breakout trading methods, and capital distribution strategies, helping traders navigate shifting economic conditions.

[marcedrickirby]

Webull · Summary for Euro/USD

https://www.webullapp.com/ticker/FX-EURUSD?hl=en

MARCEDRIC KIRBY FOUNDER CEO.

MARCEDRIC.KIRBY INC.

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