Daily Market Movement:
Top Movements (1:30 PM, GMT+7)
Popular Instrument (1:30 PM, GMT+7)
XAUUSD
Technical Analysis
Signal: Reversal Bullish / Upward
Demand Level: 1986.93 – 1983.53
The previous prediction for Gold experienced a decline earlier in the morning, but it seems there was a candlestick rejection and the price tends to show signs of an uptrend. Hence, there's a potential shift from a downward trend to an upward one for Gold. This is supported by data indicating the USD might weaken further as its impact on the market for USD appreciation seems limited, thus indicating a possible upward movement for Gold. Candlestick patterns already show signs of a change in direction and candle rejection, indicating a reversal in the trend for Gold. Additionally, this is influenced by the worsening geopolitical conflicts in the Middle East, making it more likely that investors will turn to gold, a Safe Haven asset. This analysis prediction is supported by candlestick analysis and trend analysis.
Technical Analysis
Signal: Bearish Reversal / Downward
Supply Levels: 146.500 – 146.150
The prediction for the USD suggests a likelihood of continued decline. This is due to the previous forecast showing a rejected candle, indicating a reversal. However, this pattern seems to persist, suggesting a further downward trend.
The decline in the USD is also influenced by de-dollarization, geopolitical conflicts in the Middle East, and decreasing levels of confidence, causing investors to gradually move away from the USD. The impact leading to the strengthening of the Yen will likely continue in the long term, as predicted in the preceding days. It appears that this trend of USD decline will continue for an extended period. This analysis prediction is supported by candlestick analysis and trend analysis.
Technical Analysis
Signal: Continuation Bullish / Upward
Demand Levels: 1.25610 - 1.25509
The prediction for the Pound sterling appears to lean towards further strengthening, evidenced by a rejected candlestick, indicating potential for an upward movement. This morning's forecast suggested a probable rise in price; however, the price remains strong, indicating a significant upward trend. Additionally, upon the release of news regarding the USD, specifically the "US Inflation or CPI," there is a likelihood of a decrease in prices concerning the USD. This circumstance bodes well for the Pound sterling. The opportunity for the USD seems to be diminishing due to the impact of the ongoing slowdown in the American economy, which could influence performance processes in America. The trend still demonstrates strength and has the potential to create the highest price for the Pound sterling.
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