Daily Market Movement:
Top Movements (01:00 PM, GMT+7)
Popular Instrument (01:00 PM, GMT+7)
XAUUSD
Technical Analysis
Signal: Reversal Downward / Upward
Supply Levels: 2040.59 - 2046.38
The prediction for gold today leans towards continuing a slight rise initially, albeit within a relatively small range for the increase. Afterwards, it is anticipated that the price will tend to decrease, aligning with the analysis that suggests an initial upward movement despite a slight correction earlier. The current condition seems inclined towards a price increase. The potential for this rise is predicted within the price range of $2032 - $2035, after which a tendency towards a decrease is anticipated due to a significant corrective phase. However, it's important to note that overall, the price is still showing a broad upward trend. Therefore, once this correction phase concludes, the tendency remains for future increases. This prediction and analysis are supported by trendline analysis and candlestick analysis.
Technical Analysis
Signal: Reversal Bullish
Demand Levels: 142.095 - 141.984
The prediction for USD still shows an increase ahead of the release of the 'BOJ Interest Rate Decision' news earlier today. As predicted, there was an inclination for USD to trend upwards before the news release.
The rise in USD is influenced by Governor Kazuo Ueada's statement indicating a more restrained interest rate against the Yen. This has impacted the USD significantly, aiming to control inflation rates of necessities and production in Japan, potentially slowing down the country's economic momentum. The overall trend still shows an upward trajectory for USD, but the larger trend for Yen appreciation remains, indicating that this USD increase may only be in the short term. This is an aspect that requires attention. This prediction and analysis are supported by trendline analysis and candlestick analysis.
EURUSD
Technical Analysis
Bearish Reversal / Decline
Supply Levels: 1.09177 - 1.09273
The prediction for the Euro still leans toward a correction, with prices showing no significant change yet. Tonight's forecast ahead of the news regarding the Euro suggests that it will likely maintain interest rates. This is to control production prices and essential needs, aiming to stabilize the Eurozone's economic pace. Despite the Eurozone government's influence not meeting expectations due to the Russia-Ukraine conflict, the economic momentum is expected to be further managed going forward. In broad terms, the Euro still supports an upward trend, but presently, the USD is strengthening in the short term. Consequently, after the predicted price increase, a continued decline is expected in the broader context. This is an important aspect to note.
Get the latest daily news related to market analysis, updated trading news, and reliable technical analysis on DCFX #TheSuperApp equipped with a comprehensive feature set covering 70+ global instruments. So, download the app now and start trading!
Disclaimer
Derivative investments involve significant risks that may result in the loss of your invested capital. You are advised to carefully read and study the legality of the company, products, and trading rules before deciding to invest your money. Be responsible and accountable in your trading.
RISK WARNING IN TRADING
Transactions via margin involve leverage mechanisms, have high risks, and may not be suitable for all investors. THERE IS NO GUARANTEE OF PROFIT on your investment, so be cautious of those who promise profits in trading. It's recommended not to use funds if you're not ready to incur losses. Before deciding to trade, make sure you understand the risks involved and also consider your experience.