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XAUUSD, 15-minute timeframe chart XAUUSD formed a bullish Engulfing pattern 👉Level explanation XAUUSD has been under selling pressure within the last couple of hours. Now, the price displays a bullish Engulfing pattern. The price is ready to rise. 👉Possible scenario The best way to use this opportunity is to place a Buy order at 2,404.00. Set your stop loss at 2,396.00 below the previous low ($8.00 loss for 0.01 lot) and take profit at 2,416.00 ($12.00 profit for 0.01 lot). The risk-reward ratio for this order is 1:1.5. The upcoming news will not influence your orders within the mentioned period. Some traders may close their positions on Friday, which can add more pressure to the market. 📲 More trading opportunities in our app If the link doesn’t work, try a special one for your country: 🇮🇩ID 🇮🇳IN 🇵🇰PK 🇹🇭TH

AUDUSD, 15-minute timeframe chart AUDUSD formed a bearish Evening Star pattern 👉Level explanation AUDUSD has been trading in a sideways market for the last couple of hours. Now, the price displays a bearish Evening Star pattern. The price is ready to drop. 👉Possible scenario The best way to use this opportunity is to place a Sell order at 0.67680. Set your stop loss at 0.67830 above the previous high ($1.50 loss for 0.01 lot) and take profit at 0.67530 ($1.50 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. Some traders may close their positions on Friday, which can add more pressure to the market. 📲 More trading opportunities in our app If the link doesn’t work, try a special one for your country: 🇮🇩ID 🇮🇳IN 🇵🇰PK 🇹🇭TH

📊 CAD struggles to hold gains as BoC rate cut expectations rise The Canadian dollar (CAD) rose above 1.36400 against the U.S. dollar (USD) on Tuesday but failed to hold above the level and lost most gains by the end of the day. 👉 Possible effects for traders USDCAD has been moving in a bearish trend since mid-June. Still, the strong bullish impulse from last Friday remains intact, suggesting that the pair may continue rising in the short term. However, the latest Canadian macroeconomic statistics don't support the national currency. Concerns about a possible economic recession in Canada have risen after last week's data revealed a sharp rise in domestic unemployment. Meanwhile, the trade deficit has expanded to almost 2 billion Canadian dollars in May, much faster than the market expected. Investors now expect the Bank of Canada (BoC) to cut its base rate by 25 basis points (bps) in September. There is even a 50% chance that the central bank may deliver a rate cut at its July 24 meeting. Meanwhile, Federal Reserve (Fed) Chairman Jerome Powell appeared to have sounded less dovish than the market expected. In his remarks to the U.S. Senate Banking Committee, Powell said that a rate cut is not appropriate until the Fed gains ‘greater confidence’ that inflation moves toward the 2% inflation target. However, he pointed out that the U.S. is ‘no longer an overheated economy’, suggesting that rate hikes are not being discussed. Still, the market slightly lowered the probability of the rate cut in September, pulling the U.S. Dollar Index (DXY) and U.S. Treasury yields higher. USDCAD was essentially unchanged during the Asian and early European trading sessions. Jerome Powell will continue his monetary policy testimony before the Senate Banking Committee today at 2:00 p.m. UTC. Traders should pay close attention to his remarks as they might provide clues on future changes in U.S. monetary policy. However, the key event for the USDCAD is tomorrow's monthly U.S. Consumer Price Index (CPI) report. If inflation figures are lower than expected, it will fuel rate cut hopes, pushing USDCAD lower—probably towards 1.36000. Conversely, higher-than-expected results will have a strong bullish impact on the pair, possibly pulling it above 1.36800. 📲 More trading opportunities in our app If the link doesn’t work, try a special one for your country: 🇮🇩ID 🇮🇳IN 🇵🇰PK 🇹🇭TH

📊 EUR weakens ahead of Powell's testimony EURUSD lost 0.09% on Tuesday, fluctuating between 1.08050 and 1.08300 in anticipation of Federal Reserve (Fed) Chairman Jerome Powell's testimony and possible clues on rate cuts. 👉 Possible effects for traders In his testimony yesterday, Powell refrained from providing a specific timeline for potential interest rate reductions, which investors anticipate may commence in September. However, he emphasised the indications of a cooling labour market following the nonfarm payroll (NFP) data on 5 July that revealed a third consecutive month of rising unemployment. ‘Elevated inflation is not the only risk we face’, Powell told the Senate Banking Committee. ‘The latest data show that labour-market conditions have now cooled considerably from where they were two years ago—and I wouldn’t have said that until the last couple of readings’, he later added. According to Powell, officials are becoming increasingly concerned about potential risks to the labour market from high borrowing costs as they seek further evidence that inflation is slowing. Fed Chair pointed out that cutting rates too early or too much could halt or reverse progress in reducing inflation, which has fallen from 7.1% in June 2022 to 2.6% in May 2024. ‘More good data would strengthen our confidence that inflation is moving sustainably toward 2%’, he said. The euro weakened after Monday's significant fluctuations as investors adjusted to a stalemate in the French parliament, indicating a potential impasse in political negotiations. Still, fiscal concerns arising from outright victories by far-right or far-left parties have reduced. French political leaders from the left-leaning bloc, which won most seats in Sunday's legislative elections, stated their intention to govern based on their taxation and spending plans. Meanwhile, centrist parties claimed a role due to the lack of a majority for the left. The European Central Bank (ECB) can continue to gradually lower interest rates without compromising the current decline in inflation, according to Fabio Panetta, a governing council member. The ECB reduced rates for the first time in June but hasn't explicitly committed to further monetary policy actions. The euro has been trading bullish today during Asian and early European trading sessions and has reached a 1.08200 resistance level, recovering from Tuesday's decline. Jerome Powell will continue to give a speech on U.S. monetary policy to Congress today at 2:00 p.m. UTC. Also, several other Fed officials will deliver their comments throughout the day, potentially impacting EURUSD. 📲 More trading opportunities in our app If the link doesn’t work, try a special one for your country: 🇮🇩ID 🇮🇳IN 🇵🇰PK 🇹🇭TH

📊 Traders buy XAUUSD after a Monday's drop On Tuesday, XAUUSD rose by 0.18% as investors cautiously bought gold after a sharp drop on Monday. 👉 Possible effects for traders Federal Reserve (Fed) Chairman Jerome Powell, speaking before the Senate, stated that inflation has improved in recent months and that "better data will strengthen" the case for easing monetary policy. However, he told lawmakers that he did not want to "send any signals about the timing of any future actions" on rates’, reported Reuters. The market is now focusing on the Consumer Price Index (CPI) data for June, which is due on Thursday. Analysts forecast that headline prices will show a 0.1% month-over-month increase while core prices will gain 0.2%. This would result in the annual CPI of 3.1% and 3.4%, respectively. The market expects to see a decline in inflation, so if the data aligns with the forecast, a strong reaction is unlikely. If U.S. data on Friday is strong, it may exert a bearish pressure on XAUUSD, pushing the price down towards 2,340 and then further towards the support of 2,300. Meanwhile, the rising demand for gold-backed exchange-traded funds (ETFs), which have shown inflows for the second consecutive month in June, could support the rise in the gold price. Traders are eagerly awaiting key U.S. inflation data, which could provide more clarity on the trajectory of interest rate changes. Today, the market will probably be relatively calm. XAUUSD may continue moving within the 2,380–2,360 range. However, Jerome Powell and other officials' speeches today may give more clarity on the path of U.S. monetary policy, which may affect 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

USDJPY, 15-minute timeframe chart USDJPY broke the support level of 161.420 👉Level explanation USDJPY has been trading in a bearish trend for the last couple of hours. 👉Possible scenario The best way to use this opportunity is to place a Sell order at 161.420. Set your stop loss at 161.620 above the previous high ($1.24 loss for 0.01 lot) and take profit at 161.220 ($1.24 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 broke the resistance level of 2,369.50 👉General outlook XAUUSD has been under buying pressure within the last couple of hours. 👉Possible scenario The best way to use this opportunity is to place a Buy order at 2,371.50. Set your stop loss at 2,364.00 below the previous low ($7.50 loss for 0.01 lot) and take profit at 2,379.00 ($7.50 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

EURUSD, 15-minute timeframe chart EURUSD retested the support level of 1.08180 👉General outlook EURUSD has been trading in a bullish trend for the last couple of hours. 👉Possible scenario The best way to use this opportunity is to place a Buy order at 1.08200. Set your stop loss at 1.08075 below the previous low ($1.25 loss for 0.01 lot) and take profit at 1.08325 ($1.25 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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GBPUSD, 30-minute timeframe chart GBPUSD formed a bullish Three White Soldiers pattern 👉Level explanation GBPUSD has been trading in a bearish trend within the last day. Now, the price displays a bullish Three White Soldiers pattern. 👉Possible scenario The best way to use this opportunity is to place a Buy order at 1.28097. Set your stop loss at 1.27928 below the previous low ($1.69 loss for 0.01 lot) and take profit at 1.28266 ($1.69 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

GBPJPY, 15-minute timeframe chart GBPJPY retested the resistance level of 206.400 👉Level explanation GBPJPY has been trading in a bullish trend for the last couple of hours. The pair moved up to the resistance level of 206.400. 👉Possible scenario The best way to use this opportunity is to place a Sell order at 206.191. Set your stop loss at 206.441 above the previous high ($1.55 loss for 0.01 lot) and take profit at 205.942 ($1.55 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 plunges amid investors' profit-taking XAUUSD pair declined by 1.38% yesterday, as many investors took profits after Friday's growth. Now traders are waiting for Federal Reserve (Fed) Chairman Jerome Powell's speech to Congress and the June U.S. inflation data to assess prospects for gold. 👉 Possible effects for traders Powell will address Congress today after the speech in the Senate. He will also give comments on Wednesday in the House of Representatives. Investors expect to receive more information about the likely direction of interest rate changes following his statements. According to the CME FedWatch Tool, the market is pricing in a 77% chance of a rate cut in September by the Fed. Investors hope for two rate cuts by the end of 2024 and are waiting for dovish signals from Powell. If he highlights the weakening of the U.S. economy, it will positively impact gold. Reuters refers to a report by the New York Fed, which comments that ‘the expected increase in inflation in the U.S. in the coming years generally softened in June amid lower forecasts for price increases for a wide range of consumer goods and services’. This week, important U.S. reports on the Consumer Price Index (CPI) and the Producer Price Index (PPI) for June will be released. The market expects a slowing inflation rate, further supporting hopes for an interest rate cut. Today, investors began cautiously buying gold after yesterday's plunge. Many are waiting for Jerome Powell's testimony at 2:00 p.m. UTC, which may clarify the situation in the U.S. economy. The support level for XAUUSD is 2,340, and the resistance is 2,380, which the pair have been testing for two days. 📲 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 weakened ahead of Powell's testimony EURUSD lost 0.13% on Monday following the French election, which pointed to a deadlock in the parliament. The pair had been moving sideways for most of the session and closed just above the 1.08300 resistance level. 👉 Possible effects for traders Yesterday, French President Emmanuel Macron asked his Prime Minister to remain in his position while difficult negotiations to form a new government continue following the unexpected victory of the left-wing party, which resulted in a hung parliament. ‘We're still waiting to see if the coalition can get the 240 to 250 lawmakers together to have any semblance of a, what is it, I think in France, a working government. We're in wait-and-see mode there’, said Garth Appelt, head of foreign exchange and emerging markets derivatives at Mizuho Americas. Concerns about a possible French departure from the eurozone have been alleviated after the eurosceptic National Rally party, led by Marine Le Pen, failed to achieve a majority. Jerome Powell, Chairman of the Federal Reserve (Fed), will be delivering two days of testimony before Congress. He will start giving comments to the Senate on Tuesday afternoon, continuing with the House of Representatives on Wednesday. If Powell suggests that the U.S. economy is slowing, it will negatively affect the gold price and positively impact the euro. The jobs report released on Friday showed that the U.S. labour market has lost momentum, with the unemployment rate increasing towards 4.1%. According to the CME FedWatch Tool, markets are currently pricing in a 77.1% probability of a rate reduction at the September Federal Open Market Committee meeting, with an additional rate reduction expected by December. The euro has been moving sideways between 1.08200 and 1.08300 during Asian and early European trading hours. There are no major macroeconomic events scheduled for Europe today, so the market will likely focus on Powell's speech to Congress at 2:00 p.m. UTC. 📲 More trading opportunities in our app If the link doesn’t work, try a special one for your country: 🇮🇩ID 🇮🇳IN 🇵🇰PK 🇹🇭TH

📊 AUDUSD's bullish trend slows as traders await Powell's speech The Australian dollar (AUD) lost 0.19% on Monday as the failure to consolidate above a new high in the 0.67500 area triggered a wave of selling. 👉 Possible effects for traders AUDUSD reached a six-month high last Friday, but now the bullish trend demonstrates some signs of exhaustion. The pair's recent strength has been mostly the result of the U.S. dollar's (USD) weakness as traders increased bets on the Federal Reserve's (Fed) rate cut in September following the release of weaker-than-expected U.S. macro statistics. Therefore, the pair needs a strong fundamental impulse from Australian data to move higher, which hasn't come so far. Moreover, the latest domestic data pointed to softness in consumption and employment. Tuesday's surveys showed that Australia's high borrowing costs were working to restrain demand, with business conditions worsening in June and consumer confidence declining in July. Still, there is a very strong bullish divergence in monetary policy expectations between the Fed and the Reserve Bank of Australia (RBA). The recent interest rates swap market data implies 50 basis points (bps) worth of cuts by the Fed and roughly 10 bps of hikes by the RBA by the end of 2024. AUDUSD was rising marginally during the Asian and early European trading sessions. Although the Westpac Consumer Confidence Index was weaker than expected, the pair remains in a strong bullish trend. ‘The push above recent range resistance has opened the potential for moves into the 0.68200–0.70000 area, but will be dependent upon how the potential of U.S. disinflation unfolds this week’, said Tim Riddell, a macro strategist at Westpac. Today, Jerome Powell, the Fed Chair, will testify about the Semi-Annual Monetary Policy Report before the Senate Banking Committee at 2:00 p.m. UTC. His remarks may offer clues about future U.S. monetary policy changes, potentially impacting all USD pairs. 📲 More trading opportunities in our app If the link doesn’t work, try a special one for your country: 🇮🇩ID 🇮🇳IN 🇵🇰PK 🇹🇭TH

XAUUSD, 1-hour timeframe chart XAUUSD retested the resistance level of 2,368.00 👉General outlook XAUUSD has been trading in a bullish trend for the last couple of hours. The pair moved up to the resistance level of 2,368.00. 👉Possible scenario The best way to use this opportunity is to place a Sell order at 2,367.00. Set your stop loss at 2,381.50 above the previous high ($14.50 loss for 0.01 lot) and take profit at 2,352.50 ($14.50 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

BTCUSD, 30-minute timeframe chart BTCUSD retested the resistance level of 57,350.00 👉Level explanation BTCUSD has been trading in a bullish trend for the last couple of hours. The pair moved up to the resistance level of 57,350.00. 👉Possible scenario The best way to use this opportunity is to place a Sell order at 57,330.50. Set your stop loss at 58,346.02 above the previous high ($10.16 loss for 0.01 lot) and take profit at 56,314.72 ($10.16 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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XAUUSD, 15-minute timeframe chart XAUUSD retested the support level of 2,353.00 👉General outlook XAUUSD has been trading in a bearish trend for the last couple of hours. The pair moved down to the support level of 2,353.00. 👉Possible scenario The best way to use this opportunity is to place a Buy order at 2,354.00. Set your stop loss at 2,345.20 below the previous low ($10.70 loss for 0.01 lot) and take profit at 2,364.70 ($10.70 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