Star Activation x Easy Trading Online Market Analysis 12-09-2024

🅾️ XAU/USD Analysis 12-09-2024 🅾️
❌ Fundamental Analysis:
👉🏻 Fed Interest Rates: With the Fed expected to cut interest rates by the end of 2024, gold often benefits from such moves as lower rates reduce the opportunity cost of holding non-yielding assets like gold.
👉🏻 Market Sentiment: Concerns over a global economic recession and geopolitical tensions continue to drive inflows into safe-haven assets like gold.
👉🏻 USD: The DXY Index has rebounded due to positive news for the dollar, as the CPI data exceeded both the previous month's figure and forecasts, leading to a short-term decline in gold prices.

❌ Technical Analysis:
👉🏻 Key Resistance: 2526
👉🏻 Nearest Support: 2486

❌ Suggested Trading Strategy:
👉🏻 Buy around 2500, stop loss at 2495, target at 2516

🅾️ GBP/USD Analysis 12-09-2024 🅾️
❌ Fundamental Analysis:
👉🏻 UK PMI Data: Recent PMI figures indicate a decline in the UK's manufacturing and services sectors, increasing pressure on the British pound.
👉🏻 BoE Monetary Policy: The Bank of England is facing the challenge of balancing rate hikes to combat inflation with the risk of recession, which weighs heavily on GBP.
👉🏻 USD: If the Fed cuts rates, the USD may weaken, allowing GBP/USD to recover in the short term.

❌ Technical Analysis:
👉🏻 Key Resistance: 1.31057
👉🏻 Nearest Support: 1.20118

❌ Suggested Trading Strategy:
👉🏻 Sell around 1.30787, stop loss at 1.31065, target at 1.20118

🅾️ EUR/USD Analysis 12-09-2024 🅾️
❌ Fundamental Analysis:
👉🏻 ECB and Interest Rates: The ECB is maintaining its rate-hike policy to control inflation, but recent economic data indicates a slowdown in the Eurozone economy.
👉🏻 Eurozone PMI Data: Weaker-than-expected PMI figures show a slowdown in manufacturing and services activity, which may put downward pressure on the euro.
👉🏻 Fed and USD: Similar to GBP/USD, if the Fed cuts rates, the USD could weaken, supporting EUR/USD.

❌ Technical Analysis:
👉🏻 Key Resistance: 1.11395
👉🏻 Nearest Support: 1.10052

❌ Suggested Trading Strategy:
👉🏻 Sell around 1.10285, stop loss at 1.10575, target at 1.09547

🅾️ GBP/JPY Analysis 12-09-2024 🅾️
❌ Fundamental Analysis:
👉🏻 Bank of Japan (BoJ): BoJ's extremely loose monetary policy continues to put downward pressure on the yen compared to other currencies.
👉🏻 Bank of England: With high inflation and slowing growth, the BoE is in a difficult position. Any moves to cut rates or weak economic signals from the UK could weaken GBP against JPY.

❌ Technical Analysis:
👉🏻 Key Resistance: 192.002
👉🏻 Nearest Support: 184.626

❌ Suggested Trading Strategy:
👉🏻 Sell around 186.387, stop loss at 187.298, target at 183.883