Today, Wednesday, is ideal for market analysis. Lets examine XAUUSD and USOIL commodities, EURUSD forex, BTCUSD cryptocurrency, and Nvidia stocks to review recent performance, current positions, and potential moves by weeks end.
XAUUSD
Sentimental Analysis
BDSwiss Mobile App indicates 82 of traders are short on XAUUSD, while 18 are long.
Technical Analysis
Potential Downside Breakout XAUUSD at 2317.07 on 1hr chart
Bearish Scenario
Target 1 2280.19
Target 2 2233.28 if 2280.19 breaks
Bullish Reversal
Target 1 2346.08
Target 2 2368.85 if 2346.08 breaks
Apply Risk Management
Fundamental Analysis
Gold Flirts with weekly low amid Fed ratecut uncertainty
Trend Weak for second consecutive day due to Feds hawkish stance
Outlook September rate cut possibility limits USD gains
EURUSD
Sentimental Analysis
According to BDSwiss Mobile App, sentiment shows 69 short positions on EURUSD and 31 long positions.
Downtrendline Rejection EURUSD at 1.07406 on 1hr chart
Bearish Scenario
Target 1 1.06961
Target 2 1.06396 if 1.06961 breaks
Bullish Scenario
Target 1 1.07755
Target 2 1.08030 if 1.07755 breaks
Apply Risk Management
Fundamental Analysis
EURUSD declines below 1.0700 as USD strengthens. The pair continues to fall in Wednesdays European session due to persistent USD strength, despite improved risk sentiment. Hawkish Fed expectations and EU political concerns add pressure ahead of midtier US data.
BTCUSD
Sentimental Analysis…