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Technical analysis and news for today's gold trading strategyOn the 1D chart, gold has formed a doji candle, and the FED still maintains the interest rate at 5.50%. In yesterday's press conference, Mr. Powell continued to bring inflation down to 2%, and when the FED has not brought inflation down to 2-2.5%, they still did not reduce interest rates. Mr. Powell emphasized that short-term monetary policy The regime currently in place will continue until inflation and other data dissuade the Fed from maintaining the current interest rate, at which point they will begin to think about reducing interest rates, he also said that the restrictive policies The currency has not yet brought inflation down to 2%. The SPDR fund started buying in small quantities. According to technical analysis, gold is likely to increase and the immediate target is that gold will break the EMA 20, then gold can go up to retest the price increase channel. Currently, daily Stochastic is falling, the histogram has also shown signs of decreasing, RSI has also left the overbought area and is at 64. On the H4 frame, stochastic is in the oversold area and is trending up. Histogram has begun to grow negative. On the H1 chart, the histogram is growing negative and the stochastic is pointing up, showing that it is recovering, showing that gold today will sideway from about 1985-1975 and 1975-1991.
OANDA:XAUUSD
by TheForexFamily
Gold is trending down after a recovery periodToday we will have very important USD news: ISM Manufacturing PMI, JOLTS Job Openings, ISM Manufacturing Prices and in the early morning of November 2 there will be 3 more news: Federal Funds Rate, FOMC Statement, FOMC Press Conference but This news is likely to have a big impact on gold, so we need to pay attention to orders when the news comes out According to technical analysis, October is a month of strong growth for gold. On the monthly chart, histogram and stochastic have a divergence, RSI does not see a divergence. Yesterday gold broke through the upward price channel so our trend will be to sell and the H1 stochastic frame is already in the oversold area so it is likely that gold will have a rebound to 1990, the price range from 1990-1992 we can sell stochastic The H4 frame still tends to go down, so the possibility of gold decreasing is very large
TVC:GOLD
by TheForexFamily
Powell believes that current interest rates are not too high.Powell believes that current interest rates are not too high. "Are the policies too tight? I think not." However, he admitted "rising interest rates make it difficult for everyone". The Fed also emphasized that their targets have recently performed well. Inflation in September is currently 3.7%, down sharply from more than 9% in the middle of last year. "Recent figures show progress on both of our goals: maximizing employment and stabilizing prices. The economy is still handling quite well," he said. However, the comments came on the same day as a report showing the number of people filing for unemployment benefits last week was the lowest since the beginning of the year. This shows that the labor market is tightening, which could put upward pressure on inflation. In recent days, many Fed officials said the agency may temporarily stop raising interest rates. Even the most pro-tightening members think the Fed will wait for more impact from previous interest rate hikes on the economy. The market now also expects the Fed to stop raising interest rates, at least for now. The question now is when will they start reducing interest rates. "When the environment remains risky and uncertain, we will be more cautious. The Fed will make decisions based on upcoming data, as well as prospects and risks," Powell said.
OANDA:XAUUSDLong
by NicoTradingMaster
2
Long-term CHF trading strategyAUD/USD continues to recover from the 0.6285 area, gradually forming a double bottom pattern with the neckline at 0.6435. On frame D1, the recovery momentum has weakened after touching the 20-day MA at 0.6380. On the H4 frame, the currency pair is still maintaining an uptrend. The RSI and MACD indicators signal that the upward momentum is still maintained. The price can still gain momentum if it maintains above the MA 20 line at 0.6330. Immediate resistance will be at 0.6390 and 0.6435. If the price retraces below 0.6330, the next important support levels will be 0.6310, 0.6285 and 0.6255.v
Long
by NicoTradingMaster
The USD simultaneously increased againAccording to CME Group's FedWatch Tool, Fed Funds futures traders are pricing in a 39% chance that the Fed could raise interest rates again later this year, but only a 6% chance of a hike. in the next month. Fed Governor Christopher Waller recently said he wants to monitor whether the US economy continues to grow strongly or weaken this year in the context of the Fed's recent sharp increase in interest rates. Meanwhile, New York Fed President John Williams also said that interest rates will need to remain high for a certain period of time to bring inflation back to the Central Bank's 2% target. Fed Chairman Jerome Powell and several regional Fed presidents will give speeches today, October 19. A series of recent economic data shows that US economic activity has been little changed over the past month, due to the gloom in the labor market, and prices continue to increase at a "modest" pace. . Additionally, the greenback also benefited from its safe-haven status due to concerns about the conflict in the Middle East. On the contrary, the Euro fell 0.38% to 1.0536 USD.
Long
by NicoTradingMaster
AUD is gradually forming a double bottom patternAUD/USD continues to recover from the 0.6285 area, gradually forming a double bottom pattern with the neckline at 0.6435. On frame D1, the recovery momentum has weakened after touching the 20-day MA at 0.6380. On the H4 frame, the currency pair is still maintaining an uptrend. The RSI and MACD indicators signal that the upward momentum is still maintained. The price can still gain momentum if it maintains above the MA 20 line at 0.6330. Immediate resistance will be at 0.6390 and 0.6435. If the price retraces below 0.6330, the next important support levels will be 0.6310, 0.6285 and 0.6255.
Long
by NicoTradingMaster
Correction Continuation/over in USDCAD.Elliott Wave Analysis:- A up wave was completed and a correction was over. If it continues the upside move then an impulse was already in formation. But if it is a correction was then it will be a connecting wave and the correction will become a correction continuation wave. my view is one impulse was over in this time frame next to w) wave . if it may go up without breaking down of W) wave then it will form a 5th wave. another view:- If the correction wave breaks the top of 2nd wave then entire correction will be correction wave and impulse marking will get failed. wait and watch the wave formation. i am not a SEBI registered advisor. Before taking a trade do your own analysis or consult a financial advisor. I share chart for education purpose only. I share my trade setup.
by n0m0ret0ss
USDJPY analysis today (October 3)The USDJPY pair is maintaining a high level today, currently trading just below the 11-month high of 150.00 at around 149.68. The couple is waiting for signals from the Japanese government while taking into account the impact of words spoken by officials. The strengthening US dollar and higher yields on US treasury bonds have been driving this currency pair. Analyzing the technical outlook on the D1 timeframe, it is evident that the overall trend remains bullish, indicating that market sentiment still favors buyers. Therefore, it would be wise to align with the main trend and expect a minor adjustment in the short term that may not be significantly impactful.
by Samson-FX
Pressure is increasingly weighing on gold pricesXAU/USD ended Wednesday's trading session at its lowest price in three weeks, hitting a new low of $1,905 as the inflationary backdrop in the US continued to frustrate gold investors. Gold continues to be rejected from $1,940.00 after last week's action saw the yellow metal fall back as US Treasury yields and the US Dollar (USD) continued to trouble scarf on the Gold chart. The precious metal has broken away from yearly highs above $2,060.00. The US consumer price index (CPI) rose 0.6% in August, up sharply from 0.2% the previous month, and inflation concerns weighed on XAU/USD. Annual CPI increased 3.7% compared to market estimates of 3.6%. Rising inflation in the US is causing the market to reassess the possibility that the Federal Reserve (Fed) will raise interest rates further, although the Fed seeks to keep interest rates stable at its interest rate meeting next week.
OANDA:XAUUSD
by Rancy-SuperTrend
The Fed maintains its hawkish stanceGold prices extended the previous day's healthy recovery from $1,900 or above three-week lows and gained stronger traction for the second straight day on Friday. Momentum lifted XAU/USD to three-day highs around the $1,915-$1,916 region during the Asian session, although a meaningful upside move still seems unlikely. The US Dollar (USD) has pulled back from its highest since March reached on Thursday and is seen as a key factor driving some of the flows towards US Dollar-denominated Gold prices. The decline in USD may be due to profit-taking amid a slight weakening of United States (US) government bond yields. However, strong expectations that the Federal Reserve (Fed) will keep interest rates higher for longer will be a driver of US bond yields and the Greenback.
OANDA:XAUUSD
by Rancy-SuperTrend
2