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#economic_calendar These events may affect the market on 2 October. 🔥 Don't forget to get a 100% deposit bonus!

USDJPY, 30-minute timeframe chart USDJPY formed a bearish Head and Shoulders pattern 👉Level explanation USDJPY has been trading in a bullish trend within the last day. Now, the price displays a bearish Head and Shoulders pattern. 👉Possible scenario The best way to use this opportunity is to place a Sell order at 143.700. Set your stop loss at 144.200 above the previous high ($2.78 loss for 0.01 lot) and take profit at 142.900 ($5.57 profit for 0.01 lot). The risk-reward ratio for this order is 1:1.6. The upcoming news will not influence your orders within the mentioned period. 📲 More trading opportunities in our app If the link doesn’t work, try a special one for your country: 🇮🇩ID 🇮🇳IN 🇵🇰PK 🇹🇭TH

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GBPJPY, 1-hour timeframe chart GBPJPY retested the support level of 191.300 👉Level explanation GBPJPY has been trading in a bearish trend for the last couple of hours. The pair moved down to the support level of 191.300. 👉Possible scenario The best way to use this opportunity is to place a Buy order at 191.500. Set your stop loss at 190.500 below the previous low ($6.95 loss for 0.01 lot) and take profit at 192.500 ($6.95 profit for 0.01 lot). The risk-reward ratio for this order is 1:1. Fundamental factors The U.S. ISM Manufacturing Purchasing Managers' Index report will be released in a few hours and could affect this trade. 📲 More trading opportunities in our app If the link doesn’t work, try a special one for your country: 🇮🇩ID 🇮🇳IN 🇵🇰PK 🇹🇭TH

🔽 Gold drops by 0.89% after Powell’s hawkish comments Gold (XAU) declined by 0.89% yesterday as the Federal Reserve (Fed) Chair Jerome Powell gave hawkish comments at the National Association for Business Economics. 👉 Possible effects for traders Powell stated that the recent 0.5% rate cut shouldn't be viewed as a signal for equally aggressive moves in the future and that any additional reductions will depend on economic data. He also emphasised that the U.S. economy remains strong, and he expects a soft landing. Gold is heading for its largest quarterly gain since early 2016, fuelled by the Fed's 50-basis-point (bps) cut in September, heightened tensions in the Middle East, and China's additional monetary stimulus. The probability of another 50-bps rate cut in November has dropped to 38%, down from over 50% last week. Thus, gold has been falling for the second day amid month-end flows favouring the U.S. dollar (USD) despite declining U.S. Treasury yields. XAUUSD dropped towards $2,635 but still closed September with a 5.4% gain—its best month since March. The U.S. Dollar Index (DXY) edged up 0.34% towards 100.8, weighing on gold. Geopolitical tensions remain high after Israel's strike on Hezbollah's headquarters in Lebanon, but analysts note that gold has struggled to find bullish momentum. XAUUSD was increasing during Asian trading hours as Lebanese troops pulled back from the Israeli border late Monday amid rising tensions after Israel killed Hezbollah's leader, signalling a possible ground invasion. Today, investors should focus on the U.S. ISM Manufacturing Purchasing Managers' Index (PMI) report due at 2:00 p.m. UTC. A higher-than-expected number will put downward pressure on XAUUSD, while lower-than-anticipated figures might suggest a bullish outlook for the pair. ‘Spot gold may rise towards a range of $2,654 to $2,667 per ounce, following its stabilisation around $2,626’, said Reuters analyst Wang Tao. 📲 More trading opportunities in our app If the link doesn’t work, try a special one for your country: 🇮🇩ID 🇮🇳IN 🇵🇰PK 🇹🇭TH

🔽 The euro corrects downwards after Powell's speech The euro (EUR) lost 0.26% against the U.S. dollar (USD) on Monday after Federal Reserve (Fed) Chair Jerome Powell's relatively hawkish speech. Powell's comments made investors less confident that the U.S. central bank would lower interest rates by 50 basis points (bps) again at its next meeting. 👉 Possible effects for traders Powell stated that recent updates to data on economic growth, savings rates, and personal income had removed some ‘downside risks’ the Fed has been focused on. He indicated that he anticipates two more interest rate reductions, totalling 50 bps, this year as a baseline ‘if the economy performs as expected‘. Powell also warned that it might take several years for housing services inflation to decrease to a desirable level. Overall, the market treated his remarks as hawkish: the probability of a 50-bps rate cut in November dropped below 40%, down from 53% a day before, pushing the U.S. Dollar Index (DXY) higher. Meanwhile, preliminary data from the German Federal Statistics Office showed that the country's inflation in September eased to 1.8%, slightly more than the forecast. The data raised the chances of a rate cut by the European Central Bank (ECB) at the monetary policy meeting on 17 October. Overall, EURUSD has been struggling to close above 1.11920 for more than a month now, so bears may be finally taking the upper hand. EURUSD was mostly flat during the Asian and early European trading sessions. Today's main events are the eurozone Consumer Price Index (CPI) report at 09:00 a.m. UTC, the U.S. ISM Manufacturing Index, and the JOLTS Job Openings, both at 2:00 p.m. UTC. If eurozone inflation slows faster than expected, EURUSD may face more bearish pressure and will likely drop below 1.11000. However, only strong U.S. data can trigger the start of a new bearish trend in EURUSD. The pair may rebound above 1.11700 on weaker-than-expected U.S. reports. 📲 More trading opportunities in our app If the link doesn’t work, try a special one for your country: 🇮🇩ID 🇮🇳IN 🇵🇰PK 🇹🇭TH

📊 GBPUSD trades sideways ahead of crucial reports GBPUSD moved near the upper part of the 1.33500–1.34300 range throughout most of Monday but decreased to its lower part after Jerome Powell pushed back against bets on more supstantial interest rate cuts. 👉 Possible effects for traders The Federal Reserve (Fed) Chair Powell adopted a more aggressive stance in his speech, suggesting that the U.S. central bank is likely to maintain its current trajectory of 0.25% reductions in interest rates. ‘This is not a committee that is eager to swiftly reduce rates’, he stated. Market participants anticipate that the Fed will continue to lower rates at their next policy meeting scheduled for November. However, expectations for a 50-basis-point (bps) decrease dropped towards 38.2%, down from 53.3%, according to the CME FedWatch Tool. Matt Simpson, a senior market analyst at City Index, stated that while a 50-bps decrease cannot be ruled out entirely, it's contingent on the state of economic data. If economic indicators deteriorate, such a move may be justified. However, Powell strongly believes that market sentiment regarding future rate reductions is overly optimistic. Last month, the Fed initiated its easing cycle by implementing a larger-than-expected 50-bps reduction. Powell's address took place in the context of a particularly eventful week for U.S. economic data. The Institute for Supply Management's Manufacturing Index will come out on Tuesday, the non-manufacturing report will be released on Thursday, and the crucial Nonfarm Payroll (NFP) report will be published on Friday. If the non-manufacturing and NFP data surpass expectations, as Simpson suggested, the U.S. dollar may experience a ‘slight uptick’ before ultimately resuming its downward trend. GBPUSD has been moving sideways during Asian and early European trading hours today. The market will be waiting for the U.S. ISM Manufacturing Purchasing Managers' Index data today at 2:00 p.m. UTC. Higher-than-expected numbers may trigger a downward correction in GBPUSD towards 1.33000. Conversely, weaker data may provide some support for the pair. 📲 More trading opportunities in our app If the link doesn’t work, try a special one for your country: 🇮🇩ID 🇮🇳IN 🇵🇰PK 🇹🇭TH

BTCUSD, 15-minute timeframe chart BTCUSD retested the resistance level of 64,000.00 👉Level explanation BTCUSD has been under buying pressure within the last couple of hours. The pair moved up to the resistance level of 64,000.00. 👉Possible scenario The best way to use this opportunity is to place a Sell order at 63,980.00. Set your stop loss at 64,680.00 above the previous high ($7.00 loss for 0.01 lot) and take profit at 63,280.00 ($7.00 profit for 0.01 lot). The risk-reward ratio for this order is 1:1. The upcoming news will not influence your orders within the mentioned period. 📲 More trading opportunities in our app If the link doesn’t work, try a special one for your country: 🇮🇩ID 🇮🇳IN 🇵🇰PK 🇹🇭TH

XAUUSD, 30-minute timeframe chart XAUUSD retested the resistance level of 2,643.80 👉Level explanation XAUUSD has been under buying pressure within the last couple of hours. The pair moved up to the resistance level of 2,643.80. 👉Possible scenario The best way to use this opportunity is to place a Sell order at 2,643.20. Set your stop loss at 2,651.20 above the previous high ($8.00 loss for 0.01 lot) and take profit at 2,635.20 ($8.00 profit for 0.01 lot). The risk-reward ratio for this order is 1:1. The upcoming news will not influence your orders within the mentioned period. 📲 More trading opportunities in our app If the link doesn’t work, try a special one for your country: 🇮🇩ID 🇮🇳IN 🇵🇰PK 🇹🇭TH

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#economic_calendar These events may affect the market on 1 October. 🔥 Don't forget to get a 100% deposit bonus!

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USDCAD, 1-hour timeframe chart USDCAD retested the support level of 1.34900 👉Level explanation USDCAD has been trading in a bearish trend for the last couple of hours. The pair moved down to the support level of 1.34900. 👉Possible scenario The best way to use this opportunity is to place a Buy order at 1.34910. Set your stop loss at 1.34560 below the previous low ($2.59 loss for 0.01 lot) and take profit at 1.35260 ($2.59 profit for 0.01 lot). The risk-reward ratio for this order is 1:1. The upcoming news will not influence your orders within the mentioned period. 📲 More trading opportunities in our app If the link doesn’t work, try a special one for your country: 🇮🇩ID 🇮🇳IN 🇵🇰PK 🇹🇭TH

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USDJPY, 15-minute timeframe chart USDJPY retested the support level of 141.660 👉Level explanation USDJPY has been trading in a bullish trend for the last couple of hours. The pair moved down to the support level of 141.660. 👉Possible scenario The best way to use this opportunity is to place a Buy order at 142.430. Set your stop loss at 141.519 below the previous low ($6.40 loss for 0.01 lot) and take profit at 143.340 ($6.40 profit for 0.01 lot). The risk-reward ratio for this order is 1:1. The upcoming news will not influence your orders within the mentioned period. 📲 More trading opportunities in our app If the link doesn’t work, try a special one for your country: 🇮🇩ID 🇮🇳IN 🇵🇰PK 🇹🇭TH

🔽 Gold slips 0.54% as investors take profits Gold (XAU) fell by 0.54% on Friday as investors took profits after XAUUSD had reached a record high in the previous trading session. 👉 Possible effects for traders The yellow metal continued setting new record highs, heading for its largest quarterly gain since early 2016. XAUUSD rose by about 1.6% for the week, supported by the Federal Reserve's (Fed) significant 50-basis-point (bps) rate cut and China's recent stimulus measures. The Fed's preferred inflation measure, the core Personal Consumption Expenditures (PCE) Price Index, rose by just 0.1% in August, below the 0.2% forecast, while the annual increase of 2.7% met expectations. Personal income and spending were also weaker than expected last month. According to the CME FedWatch Tool, traders are pricing in a 55.7% chance of a 50-bps cut in November and a 44.3% likelihood of a 25-bps cut. However, St. Louis Fed President Alberto Musalem stated on Friday that the U.S. central bank should return to a gradual pace of rate cuts following the larger-than-usual half-point reduction in September. A combination of factors should help limit deeper losses. Israel intensified its conflict with Iran's allies—the Houthis in Yemen and Hezbollah in Lebanon—launching aggressive airstrikes on Sunday, raising fears of a broader war in the Middle East. Investors are now worried that the conflict could escalate, potentially drawing in Iran and the U.S., Israel's key ally. Overall, the possibility of further interest rate reductions and ongoing geopolitical uncertainty lowers the opportunity cost of holding non-yielding gold and supports safe-haven demand for gold. XAUUSD declined during the Asian trading hours. Fed Chair Jerome Powell will give a speech today at 5:55 p.m. UTC, which may affect expectations for a rate cut in November. If Powell signals a more dovish stance or hints at further rate cuts, it could weaken the U.S. dollar (USD) and push XAUUSD higher. Conversely, if he suggests a more cautious approach or less aggressive easing, it will put downward pressure on the pair. ‘Spot gold may retest support at $2,646 per ounce, a break below which could open the way towards the $2,619 to $2,633 range’, said Reuters analyst Wang Tao. 📲 More trading opportunities in our app If the link doesn’t work, try a special one for your country: 🇮🇩ID 🇮🇳IN 🇵🇰PK 🇹🇭TH

📊 The euro strengthens as U.S. inflation slows The euro (EUR) lost 0.12% against the U.S. dollar (USD) during a rather volatile session on Friday. The U.S. Personal Consumption Expenditure (PCE) Price Index report figures were slightly lower than expected, weakening the greenback. 👉 Possible effects for traders Friday's U.S. Bureau of Economic Analysis report showed that consumer spending rose slightly less than expected in August. However, the data didn't significantly alter the belief that the U.S. economy continued to expand robustly in Q3. Importantly, the annual increase in prices was the lowest in over three and a half years, strengthening the case for more rate cuts by the Federal Reserve (Fed) and putting downward pressure on the U.S. Dollar Index (DXY). At the same time, a big 50-basis-point (bps) rate cut is probably less likely given that there is no emergency to ease monetary policy against the backdrop of a still-growing economy. Meanwhile, the market is beginning to anticipate more rate cuts from the European Central Bank (ECB). On Friday, Goldman Sachs said it now expects the ECB to deliver its next interest rate cut in October. The Wall Street brokerage also maintained its forecast for sequential 25-bps cuts at every meeting until the base rate reaches a terminal rate of 2%. EURUSD was rising during the Asian and early European trading session. Today, EURUSD may face another volatile trading session as two important events are on the horizon. First, Germany will release its preliminary Consumer Price Index (CPI) report for September at 12:00 p.m. UTC. In case it indicates a slowdown in inflation, EURUSD will probably drop towards 1.11000. Second, Jerome Powell, the Chairman of the Fed, will deliver his speech at 5:55 p.m. UTC, during which he might give the details of future changes in the U.S. monetary policy. Specifically, traders will be looking for clues about whether the Fed's Chair is leaning towards a 25- or a 50-bps rate cut in November. If Powell sounds less dovish than expected, the DXY may rise above the important 101.00 level, pushing EURUSD down. 📲 More trading opportunities in our app If the link doesn’t work, try a special one for your country: 🇮🇩ID 🇮🇳IN 🇵🇰PK 🇹🇭TH

🚀 AUDUSD reached its peak since the beginning of the year AUDUSD continued its bullish trend on Friday, driven higher by a combination of macroeconomic and domestic factors. 👉 Possible effects for traders The Reserve Bank of Australia (RBA) maintained the cash rate at 4.35% at its September meeting and indicated that policy may be maintained at current levels for an extended period. This has led investors to focus on upcoming economic reports from Australia, including Retail Sales, Building Permits, and Trade figures, which will be released this week. Additionally, the stimulus measures implemented by China have boosted the demand outlook for Australia's largest trading partner, leading to an increase in the prices of commodities and currencies linked to commodities. The U.S. core Personal Consumption Expenditures (PCE) Price Index, a key indicator used by the Federal Reserve (Fed) to measure underlying inflation, increased by 0.1% month-over-month in August 2024. This was below market expectations for a 0.2% rise and a slowdown from the 0.2% increase in the previous month, aligning with the central bank's view that U.S. inflation is decelerating. This development supports the argument for a more aggressive rate-cutting cycle by the Fed, as it indicates that inflation is under control. Joe Capurso, strategist at the Commonwealth Bank of Australia, commented on the situation: ‘Inflation is under control, interest rates are going down, and this is good news for the global economic outlook and for risk-taking and commodity currencies such as the Australian dollar’. He also predicted that the trend for the U.S. dollar over the next year or so will likely be downward. AUDUSD has been increasing during Asian and early European trading sessions. The pair has bounced back from the support 0.69000 level. Today, the market will await Fed Chair Jerome Powell's speech regarding future monetary policy at 5:55 p.m. UTC. If Powell indicates a possibility of a 25-basis-point rate cut, it may lead to a downward correction in the AUDUSD. Conversely, if he hints at more aggressive reductions, it could weaken the U.S. dollar and benefit the Australian dollar. 📲 More trading opportunities in our app If the link doesn’t work, try a special one for your country: 🇮🇩ID 🇮🇳IN 🇵🇰PK 🇹🇭TH

AUDUSD, 30-minute timeframe chart AUDUSD formed a bearish Engulfing pattern 👉Level explanation AUDUSD has been under buying pressure within the last couple of hours. The pair moved up to the resistance level of 0.69370. Now, the price displays a bearish Engulfing pattern. 👉Possible scenario The best way to use this opportunity is to place a Sell order at 0.69320. Set your stop loss at 0.69460 above the previous high ($1.40 loss for 0.01 lot) and take profit at 0.69180 ($1.40 profit for 0.01 lot). The risk-reward ratio for this order is 1:1. The upcoming news will not influence your orders within the mentioned period. 📲 More trading opportunities in our app If the link doesn’t work, try a special one for your country: 🇮🇩ID 🇮🇳IN 🇵🇰PK 🇹🇭TH

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