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USDJPY, 1-hour timeframe chart

USDJPY retested the resistance level of 147.200

👉General outlook
USDJPY has been trading in a sideways market for the last couple of hours. The pair moved up to the resistance level of 147.200.

👉Possible scenario
The best way to use this opportunity is to place a Sell order at 146.800.

Set your stop loss at 147.650 above the previous high ($5.79 loss for 0.01 lot) and take profit at 145.950 ($5.79 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.

BUY XAUUSD ENTRY 2644 - 2646

SL: 2642

TP: 2648

📊Daily Market Analysis

💸 GBP/USD
Andrew Bailey, Governor of the Bank of England, delivered dovish comments, reducing rate hike expectations, which led to a decline in demand for the pound. Technically, the GBP/USD pair has formed a "Double Top" pattern, indicating a bearish trend. The price has crossed below the 34-day and 55-day moving averages, strengthening the likelihood of further downside in the mid-term. The 1.30 support level is holding, but short-term corrective moves are also possible.


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💸 EUR/USD
The better-than-expected ADP employment report in the U.S. has increased demand for the dollar, while lower-than-expected inflation in Europe has reduced rate hike expectations. As a result, the EUR/USD pair has dropped below key 34-day and 55-day moving averages, increasing the probability of a continued decline in the mid-term. The 1.10 support level remains critical. Traders are also anticipating the U.S. Non-Farm Payroll (NFP) report, which will be released tomorrow.

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💸 USD/JPY
Japan’s new Prime Minister, Ishiba, stated that interest rate hikes would not accelerate, which has decreased demand for the yen. On the other hand, demand in Japan's equity markets has risen. Technically, the USD/JPY pair has bounced off its important 14-month support and crossed above the 34-day moving average, increasing the likelihood of further upside in the mid-term. Investors are waiting for tomorrow’s NFP report.

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🥇 Gold (XAU/USD)
Following the better-than-expected ADP employment data in the U.S. and lower rate hike expectations, demand for gold near its historical peak has slightly declined. Currently, the price is moving within a range triangle pattern, and short-term corrections are likely. The upcoming NFP report could significantly impact this trend. If the NFP data exceeds expectations, it could lead to further corrections in gold prices. Conversely, weaker-than-expected NFP data could reduce rate hike expectations and boost demand for gold.

High Impact News 📢

The US Dollar (USD) continues to gather strength against its rivals for the fourth consecutive day on Thursday as market focus shifts to the next set of macroeconomic data releases from the US. The US Department of Labor will publish the weekly Initial Jobless Claims data in the early American session. Later in the day, August Factory Orders and September ISM Services PMI data will also be featured in the US economic docket. Additionally, Federal Reserve Bank of Minneapolis President Neel Kashkari and Federal Reserve Bank of Atlanta Raphael Bostic will be delivering speeches.

Trade carefully fighter's 👍🏻

Technical Analysis: EUR/USD continues descent within long-term range

EUR/USD continues unfolding a down leg within a broad multi-year range capped by a ceiling at roughly 1.1200 and a floor at about 1.0500. 

TP secured smoothly patience is the key to winning here 🙏🏻

SELL AUDJPY ENTRY 100.760 - 100.770

SL: 100.860

TP: 100.460

Technical Analysis: USD/JPY tests 147.00, the upper boundary of the ascending channel

USD/JPY trades around 146.80 on Thursday. Analysis of the daily chart indicates that the pair tests to breach above the ascending channel pattern, suggesting a strengthening bullish bias. The 14-day Relative Strength Index (RSI) also moves above the 50 level, confirming the bullish trend's continuation.

The USD/JPY pair encountered resistance near the upper boundary of the ascending channel near the five-week high of 147.21, last reached on September 3. A break above this level could support the pair to test its seven-week high at 149.40.

On the downside, the USD/JPY pair could find support at the nine-day Exponential Moving Average (EMA) around 144.60, followed by the lower boundary of the ascending channel at 143.20.

GOLD TECHNICAL OUTLOOK

Gold price remains capped below the key $2,670 resistance, despite the escalating Israel-Iran conflict.  
The US Dollar stands tall on reduced bets for an outsized Fed rate cut in November.    

Gold price could struggle for bullish traction ahead of top-tier US economic data, Fedspeak.
Gold price is trading listlessly in a narrow range under the key $2,670 static resistance, lacking a clear directional impetus so far this Thursday.

Super sharp entry fly instantly scalpers can collect profit if satisfied or hold with breakeven 🙏🏻

BUY USDJPY ENTRY 146.810 - 146.830

SL: 146.300

TP: 147.200

Technical Analysis: Australian Dollar moves below 0.6900, ascending channel

The AUD/USD pair trades near 0.6870 on Thursday. A daily chart technical analysis shows that the pair has breached below the ascending channel. This shows a weakening bullish bias. However, the 14-day Relative Strength Index (RSI) is positioned above the 50 level, supporting the bullish sentiment.
In terms of resistance, a return to the ascending channel would reinforce the bullish bias and support the AUD/USD pair to aim for the area near the upper boundary of the channel, around the psychological level of 0.7020.
On the downside, the AUD/USD pair is testing the immediate support at the nine-day Exponential Moving Average (EMA) at the 0.6865 level. A break below this level could cause an emergence of a bearish bias and lead the pair to navigate the region around its seven-week low of 0.6622.

BUY AUDUSD ENTRY 0.68840 - 0.68860

SL: 0.68800

TP: 0.69340

Technical outlook: Australian Dollar to retrace in the short-term before challenging 0.6900

The AUD/USD is set to extend its losses after failing to hold gains above the 0.6900 figure. Although momentum suggests that buyers are in charge, the Relative Strength Index (RSI) is aiming lower in the short term. Therefore, the AUD/USD is tilted to the downside before resuming its ongoing uptrend.
The AUD/USD could test the December 28, 2023 peak turned support at 0.6871 on further weakness. Once surrendered, the next stop would be the October 1, 2024 low of 0.6856, ahead of challenging 0.6800.
However, if AUD/USD aims higher and closes above 0.6900, look for a retest of the year-to-date high of 0.6934.

Happy Thursday fighter's !

For sure yesterday we ended our day with a very good smile! But, the mission must have to keep going boys! Let's buckle up and standby your weapon fighters!

Ready for today guys! We gonna rock the market today ✊🏼🔥

Unmute and Pin this channel now

Easy money 💰 Thanks mate 🏆

First decent win 🔥

XAUUSD, 1-hour timeframe chart

XAUUSD retested the support level of 2,645.00

👉Level explanation
XAUUSD has been trading in a bearish trend for the last couple of hours. The pair moved down to the support level of 2,645.00.

👉Possible scenario
The best way to use this opportunity is to place a Buy order at 2,648.00.

Set your stop loss at 2,636.00 below the previous low ($12.00 loss for 0.01 lot) and take profit at 2,660.00 ($12.00 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.