Powell hints at 2 more hikes, sends gold lower Powell hints at 2 more hikes, sends gold lower
The US dollar rose on Wednesday after the gathering of central bank leaders worldwide, which included Federal Reserve Chair Jerome Powell. During the meeting, Powell left open the possibility of the Federal Reserve implementing two more rate hikes this year. Furthermore, Powell stated that he does not anticipate inflation reaching the Federal Reserve's target of 2% until the year 2025.
However, investors might be hanging onto the words of Powell a little too tightly considering his central bank counterparts in the ECB and BoE presented more hawkish remarks (natural for the stickiness of inflation that these regions are facing). Christine Lagarde emphasized that the European Central Bank (ECB) remains unconvinced by the available evidence inflation is falling in the Euro Area. A revision by investors might be in order.
With the rise in the USD, we are also seeing selling pressure in the XAU/USD for a third straight day.
Currently, gold is hovering around $1,909 and maintaining a bearish outlook, with the potential to breach the $1,900 level. The daily chart reveals that the precious metal has dropped further below both the 20 and 100 Simple Moving Averages, which are currently converging at $1,943.
Among the current levels, $1,875 perhaps stands out as the most significant support level. Despite previously acting as a resistance point, it has served as a pivot on multiple occasions.
Goldtrend
GOLD 27/6!! The bulls are still trying to hold the price around Gold price struggles to make any significant progress on Tuesday and trades within a narrow range, just above the $1,920 level during the Asian session. The XAU/USD pair remains close to a three-month low reached last Friday and could potentially drop below the 100-day Simple Moving Average (SMA).
The upside for Gold price is limited by the hawkish stance of major central banks. The initial market reaction to the failed mutiny in Russia over the weekend was short-lived due to the strong stance taken by these central banks. It is important to note that the Reserve Bank of Australia (RBA) and the Bank of Canada (BoC) surprised the market by raising interest rates by 25 basis points earlier this month. Additionally, the European Central Bank (ECB) raised rates to the highest level in 22 years last week. Furthermore, the Bank of England (BoE), the Swiss National Bank (SNB), and Norges Bank increased their benchmark interest rates last Thursday.
Gold price prediction today is still sideways around $1910 - $1950, the downtrend still prevails
SELL GOLD zone at: $1940 - $1943 SL $1953
Based on technical analysis indicators EMA 34, EMA 89 with strong resistance zone $1940 - $1943
Gold to take downside Rally for Short Term with Channel RangeGOLD Trading In The Channel Range.
Taking Upside Resistance in the channel range trendline and moving downside.
BREAKING BELOW THE CHANNEL RANGE WILL IMPACT MORE DOWNSIDE FALL AND LEVELS GIVEN IN THE CHART.
{VIEWS ARE ONLY FOR EDUCATIONAL PURPOSE.}
GOLD is stuck in the price zone 1950$-1955$Gold price in a three-day rally near $1965 as the US Dollar remained bearish early Wednesday. In doing so, the precious metal also cheered hopes for more China stimulus and cautious optimism in the market amid the Federal Reserve's (Fed) policymakers' disapproval. any speech due to a power outage before the FOMC, as well as due to a light schedule.
That said, the US Dollar Index (DXY) reverses the previous day's corrective recovery while taking offers around 104.00, down 0.10% on a day-to-day basis by press time. In doing so, the greenback's measure against six major currencies suffers from a market that bets on the Fed's next move.
I expect gold to return to the 1965-1964 price range and then continue the uptrend that was formed earlier. My expectation is that gold will reach the 1976 zone.
Stoploss will be around 5 prices per order.
Make sure you have TP, SL to win the market.
Do you think gold will rise today?The price of gold rebounded after hitting a low point not seen in over two months.
This was due to the recent data showing that the US services sector had experienced minimal growth in May, which halted several months of strong market growth.
The weakened dollar was also beneficial to metal markets, with gold being a safe-haven asset.
However, it is expected that US interest rates will remain high this year, limiting the potential for significant gains in metal prices.
Despite this, it is possible that the value of gold will increase later in the year as the US economy weakens.
In general, in the short term, Gold can still maintain its upward momentum, if the 1950-1940 price zone can still hold the bears. Then it's not a difficult thing to crawl back to 1975 or even 1985
XAUUSD (Gold) Latest Analysis LONG or Short . Find out Gold latest move in 1 hr time frame may breakout from symmetrical triangle and reach to 2005- 2012 📈 range before falling down . But if broken previous week high at 2015 may lead to test resistance at 2020. If not broken symmetrical triangle can lead to 1950-1960 📉 support range and will also broke the daily bear flag which will give the confirmation for further down levels .
Enjoy trading
Be cautious of sudden moves and stop loss hunt.🥇
#Gold #XAUUSD downward movement potential with risk:reward= 5.2 #Gold #XAUUSD downward movement potential with risk:reward= 5.2
Analysis of Gold spot/US Dollar i.e XAUUSD
Time frame:15 minutes
What is the analysis?
Break out on the upper side and reach the target. MACD Is crossing below zero, so we can expect a downtrend movement with risk:Reward=5.2.Sell at 2020 with SL 2035 and target 1871.
HOPE our analysis is adding value to your Stock market trading Journey.
NOTE: Published Ideas are for ‘’EDUCATIONAL PURPOSE ONLY’’ trade at your own risk.
NOTE: RESPECT The risk. SL should not be more than 2% of the capital.
Happy Trading
BREAKOUT WILL COME IN GOLD SHORTLY BREAKOUT CAN HAPPEN ANY TIME IN GOLD ON HOURLY TIME FRAME
WATCH CLOSELY AND TRADE ACCORDINGLY
It is a dense, lustrous, yellow, malleable precious metal, so durable that it is virtually indestructible, often found uncombined in nature. Jewelry and other decorative objects have been crafted from gold for thousands of years. It has been used for coins, to back paper currencies, and as a reserve asset.
gold mcx analysis with shoting star pattern belowgold mcx analysis with shooting star pattern below---gold daily chart made shoting star pattern which is near term indicate bear mode yes 59856 blw gold may be test 59144+++ or blw 59100 or close blw thna u will see 58550-310+++++ over all hold this pattern high than mkt sell on rise or if hold support 59100 thna mkt again jump till 59500-700+++++
gold mcx trend line analysis blw 58550gold mcx trend line analysis blw 58550-----yes 4ht hrs chart made bear pattern or trend line indicate sell on rise good way with 58700 cls base sl tgt 57780--577+++ or where break this trend line hurdel than we see 5900-59300++ soon yes must sustain or cls abv 58700 than up side only
today gold market hi guys
i hope all of us doing ,previous chart analysis playing perfectly preview on it quick update on gold m15 chart
bullish targets
1879 holding above next target open on 1885
1885 holding above next targets open on 1890
1869 holding above next targets open on 1877,1879
bearish targets
1877 holding below next targets open on 1869,1866
1866 holding below next target open on 1862