News & Research

17 September 2024

powered by Land Prime

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• EURUSD

Update: EURUSD continues its bullish trend, trading below the 1.1260 resistance level. The pair shows signs of further upward momentum, aiming for the 1.1260 level as the next key target. If the price successfully breaks through this level, it could open the way for further gains towards 1.1300. On the other hand, a failure to maintain above 1.1090 may trigger a pullback towards the support levels at 1.0978 and 1.0934. The RSI indicates the pair is not yet overbought, suggesting room for additional upside potential. For now, the bullish outlook is likely to persist as long as the price trades above 1.1090. A move below this level would shift focus to the downside targets, potentially altering the current trend.

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• GBPUSD

Update: The pair is attempting to maintain its bullish stance, currently struggling to break through the resistance at 1.3268. If the pair manages to push above this level, it could signal further upward movement, with targets at 1.3500 and potentially higher. However, if the price fails to break this resistance and moves lower, it could target the support at 1.2993. A break below 1.2993 would expose the pair to further declines toward 1.2659. The pair’s recent price action suggests a consolidation phase, and the next move will likely depend on whether the price breaks the current range. The overall outlook remains bullish as long as the pair trades above 1.2993, but caution is warranted if the price approaches this level.

• GOLD

Update: Gold continues to trade within a strong bullish trend, holding above the key support at 2530. The precious metal appears poised to test the next resistance at 2580, with further upside potential towards 2600. If the price remains above 2530, the upward momentum is likely to persist, supported by recent market strength. However, failure to maintain this level could lead to a pullback, with targets set at 2480 and possibly 2462. The OsMA indicator shows declining bullish momentum, suggesting some caution is needed at higher levels. Traders should keep an eye on the 2530 support as a key pivot; a breakdown below this level could signal a trend reversal. For now, the bias remains bullish, targeting 2580 – 2600.

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• AUDUSD

Update: The pair is currently exhibiting a neutral to bearish tone. The pair faces resistance near 0.6824, and selling pressure is building up. If the price fails to break above this level, a downward move is expected. A break below the support at 0.6622 could lead to further declines towards 0.6579 and potentially 0.6500. However, if the pair manages to push above 0.6824, it could signal a short-term bullish move towards 0.6900. For now, the bearish outlook remains as long as trading stays below 0.6824, with the OsMA indicator showing limited upward momentum. Keeping an eye on the 0.6622 support level will be crucial for determining the next move. Targets in case of a downward continuation include 0.6579 and 0.6500, while a break above 0.6824 could invalidate the bearish bias, opening the door for further gains.

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• GBPJPY

Update: The pair is facing downward pressure, with the price trading below the key resistance level at 188.10. The bearish trend is reinforced by the descending red trendline, signaling continued weakness. If the pair breaks below the immediate support at 185.00, it could extend losses towards 183.00 and possibly lower. However, if the price rebounds and breaks above 188.10, it could invalidate the bearish scenario, opening up the potential for a corrective rally towards 193.18. The OsMA indicator shows mixed signals, indicating some consolidation might occur before the next significant move. Traders should monitor the 188.10 resistance closely; failure to break this level would likely keep the bearish bias intact, targeting 185.00 and beyond

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