Gold prices are recovering from weekly lows of $1,914 ahead of a busy Friday, with preliminary global PMI data releases. The US Dollar (USD) is temporarily breathing heavily even though US Treasury bond yields are setting new multi-year highs.
The 14-day Relative Strength Index (RSI) indicator is just below 50, raising doubts about a recovery in Gold prices.
This recent up move is just a pullback
which did not retested out ob
it is heading back to retracement area of 0.7 and 0.5 lvl
but for short time gold is like to hover within 0.5 - 0.7 level (59665 - 59385)
and there after there is resistance above at 60150
cant fit in with good risk to reward for investing or value buying
better to avoid fomo
Currently, the price of gold on the exchange is still performing well and trading steadily around the $1932 mark, which is an increase of approximately $7 compared to the same time yesterday. This indicates that gold continues to remain attractive without losing its appeal.
This week, the FED will announce new monetary policies and provide updated...
Gold prices traded more steadily on Friday, thanks to supportive policy measures and strong business activity data from China. These factors boosted market sentiment and dampened the safe-haven demand for the US dollar, limiting its recent appreciation.
Furthermore, concerns about low yields on US Treasury bonds also provided additional support for...
TP1 = 1:2 RR
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-Per last week's move, we can see the price is in respect to the deemand zone and try to test the supply zone
-Before reaching the supply zone, it should test the near deemand zone, which is 1913-1910
-Then expect to reach the supply zone, which is 1937-1937
And a minor retrace for a healthy upside.
-The recent low is near 1901-1899 to break down the price....
we have captured the down trend since the beinginng on trend change
currently price has breached some fair value area and ob's from medium time frame
as i have captured the big trend personally i wont be shorting instead will wait for my buying zone
58810 and 58665 is new current resistace
58275 and 58120 is the level where price would like...
GBP/USD clings to small daily gains but finds it difficult to surpass 1.2500 on Friday. The bullish opening in Wall Street makes it difficult for the USD to continue to outperform its rivals and helps the pair hold its ground heading into the weekend.
At the end of last Friday's session, GOLD had confirmation of a sideways accumulation around the 1916 - 1928 border after the price tried to push up past the 1928 peak but then sold back strongly during the night of Friday, which This shows the hesitation of investors before the US inflation announcement on Wednesday night this week.
If we label the short-term...
US Dollar Index continues to recover while gold comes under some fundamental pressure holding back the upside as core US Personal Consumer Expenditure (PCE) Price Index (PCE) data for August improved a bit. little.
The US Nonfarm Payrolls (NFP) report, due out today, is expected to bring huge volatility across the market as it will shape the Fed's capabilities...
Gold price today continued to maintain a downtrend and traded around 1925 usd/ounce.
It can be seen that last night, the USD had a hot session again, causing gold to come under downward pressure and hit its lowest level in the past week.
In the near future, the gold price may drop further to the threshold of 1,900 USD/ounce when the USD is still rising. If on...
Gold price regains positive traction and remains within the striking distance of a one-month top. Expectations that the Federal Reserve is down with its rate-hiking cycle underpin the XAU/USD. A positive risk tone might hold back bulls from placing aggressive bets and cap any further gains.
On the hourly time frame, the ascending channel resistance was previously...
After experiencing a five-day losing streak, the Gold Price is beginning to recover from its recent losses at a weekly low.
The decline in price can be attributed to the strength of the US Dollar and ongoing concerns about China's economic situation.
The positive United States data and discussions by the Federal Reserve have caused yields, as well as the US...
🌸Hello everyone, it's a pleasure to share and explore the market with you today. Currently, the gold market (August 24) has increased significantly compared to the previous session. Gold has now far outstripped a dangerous $1,900 price point after economic data from Europe showed a less positive purchasing managers index (PMI), prompting investors to ramp up their...
OANDA:XAUUSD The downward trend of the gold price (XAU/USD) continues as the US Dollar remains strong, driven by negative market sentiment and consistent job growth in the United States.
The yellow metal is under pressure because it is expected that the Federal Reserve (Fed) will maintain higher interest rates for an extended period.
The appeal of the US...
OANDA:XAUUSD The price of gold (XAU/USD) is experiencing slight selling pressure as the Federal Reserve's preferred measure of inflation remains consistent in July.
Previously, the value of gold was trading sideways following a surge caused by weak labor demand due to the worsening economic forecast.
It is anticipated that the precious metal will remain...