XAUUSD ANALYSIS 10-9-24 #SEMS #GOLD
🚨 XAUUSD (Spot Gold) 🔖 10-9-2024 🚨
Sell at : $2532-$2555-$2575-$2600
Buy at :$2478-$2458-$2438-$2418
CMP - $2510.21 (as of writing) 📈
⚠️Warning: Do not risk more than 5% of your capital. Trading in gold and other financial markets involves significant risk and may result in substantial losses.
📊💹 Fundamentals that might impact XAUUSD: Date: 10 Sep 2024 📅
Market anxiety is rising before Tuesday’s US presidential debate between Vice President Kamala Harris and former President Donald Trump. Dollar volatility nears its highest level since the March 2023 banking crisis, while the stock market’s "fear gauge" climbs. “This debate could be crucial for both campaigns’ momentum,” said Kathleen Brooks, research director at XTB, noting that the US election remains the biggest global risk.
US Banks Face Revised Capital Hike
Under revised plans from the Biden administration, the largest US banks could see a 9% increase in capital requirements, down from the originally proposed 19%. The reduced mandates may ease concerns within the banking sector and help Fed Chair Jerome Powell secure broader support from the central bank's board. Fed Vice Chair for Supervision Michael Barr will outline the changes in a speech on Tuesday. The Fed declined to comment.
China's Stock Market Plunge Intensifies
China's stock market losses have deepened to $6.5 trillion, pushing the benchmark index toward its lowest level since January 2019. The ongoing property crisis is dampening consumer spending, creating a deflationary cycle. Despite state-backed efforts to stabilize stocks, the sell-off continues, pressuring policymakers to act. So far, Beijing has avoided the aggressive interventions of past economic recoveries. “It’s been an extremely tough period for markets, and the economy is in worse shape than expected,” said Ron Temple, chief market strategist at Lazard Asset Management.
Trading Strategy: Given the current market dynamics, we suggest the following:
🟢For Potential Rebound:
• Buy Entry Target Range: $2530(TP1)- $2545 (TP2)-$2560(TP3)
🔴For Potential Downtrend:
• Sell Entry Target Range: $2475 (TP1)- $2460 (TP2)- $2445 (TP3)
🔴Technical Status: XAUUSD: 📌
D1 SMA100-P (2357.38) Buy🔺
H4 SMA100-P (2419.00) Buy🔺
H1 SMA100-P (2460.15) Buy🔺
H4 SMA200-P (2420.14) Buy🔺
Sell at : $2532-$2555-$2575-$2600
Buy at :$2478-$2458-$2438-$2418
CMP - $2510.21 (as of writing) 📈
⚠️Warning: Do not risk more than 5% of your capital. Trading in gold and other financial markets involves significant risk and may result in substantial losses.
📊💹 Fundamentals that might impact XAUUSD: Date: 10 Sep 2024 📅
Market anxiety is rising before Tuesday’s US presidential debate between Vice President Kamala Harris and former President Donald Trump. Dollar volatility nears its highest level since the March 2023 banking crisis, while the stock market’s "fear gauge" climbs. “This debate could be crucial for both campaigns’ momentum,” said Kathleen Brooks, research director at XTB, noting that the US election remains the biggest global risk.
US Banks Face Revised Capital Hike
Under revised plans from the Biden administration, the largest US banks could see a 9% increase in capital requirements, down from the originally proposed 19%. The reduced mandates may ease concerns within the banking sector and help Fed Chair Jerome Powell secure broader support from the central bank's board. Fed Vice Chair for Supervision Michael Barr will outline the changes in a speech on Tuesday. The Fed declined to comment.
China's Stock Market Plunge Intensifies
China's stock market losses have deepened to $6.5 trillion, pushing the benchmark index toward its lowest level since January 2019. The ongoing property crisis is dampening consumer spending, creating a deflationary cycle. Despite state-backed efforts to stabilize stocks, the sell-off continues, pressuring policymakers to act. So far, Beijing has avoided the aggressive interventions of past economic recoveries. “It’s been an extremely tough period for markets, and the economy is in worse shape than expected,” said Ron Temple, chief market strategist at Lazard Asset Management.
Trading Strategy: Given the current market dynamics, we suggest the following:
🟢For Potential Rebound:
• Buy Entry Target Range: $2530(TP1)- $2545 (TP2)-$2560(TP3)
🔴For Potential Downtrend:
• Sell Entry Target Range: $2475 (TP1)- $2460 (TP2)- $2445 (TP3)
🔴Technical Status: XAUUSD: 📌
D1 SMA100-P (2357.38) Buy🔺
H4 SMA100-P (2419.00) Buy🔺
H1 SMA100-P (2460.15) Buy🔺
H4 SMA200-P (2420.14) Buy🔺
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.