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"Gold Slips as USD Rallies, Investors Eye Fed's Next Move"Key Points: USD and Bond Yields Impact: Gold prices edged lower at the start of the week, influenced by a strengthening USD and rising bond yields. Awaiting Economic Data: Investors are keenly awaiting economic data and commentary from Federal Reserve officials for clearer guidance on interest rate cuts. Price Range Forecast: In this environment, gold is expected to trade sideways between $2,300 and $2,335. Upcoming U.S. Economic Reports: Key U.S. data this week, including retail sales figures, weekly jobless claims, and PMI indices, are anticipated to shed light on the Fed's rate direction. Support from Fed Policy Expectations: Despite the lack of major movements, gold remains supported by expectations that the Fed will eventually pivot its policy stance. Global Political Uncertainty: Additionally, political unrest in France is heightening global risk aversion, boosting the demand for gold as a safe haven.
OANDA:XAUUSD
by HamedMarkets
Gold price today still increased above 2300 USDGold prices have surged on weaker-than-expected US retail sales and expectations of lower interest rates. Here are the key factors: Weak retail sales: US retail sales report was lower than expected, suggesting a decline in consumer spending. This raises concerns about economic growth, which could lead to economic stimulus or looser monetary policy from the Federal Reserve (Fed). As a result, gold becomes more attractive as a safe haven asset. Expect lower interest rates: With retail sales weak, the Fed could keep interest rates low or even cut them to support the economy. Lower interest rates reduce the opportunity cost of holding gold, which provides no interest or dividends. A weaker US dollar due to lower interest rates also increases the value of dollar-denominated gold in international markets.
OANDA:XAUUSDLong
by HamedMarkets
2
XAUUSD Trading strategy for complex corrections Look at H1 - We see that currently the price is tending to form a triangle correction pattern. - As I said before, the price is currently in a complicated adjustment process, we can only wait for the model to complete to determine the next trend. - And I am also predicting an ABC correction model with the target wave C on the chart with 2 price ranges 2350 and 2365. However, currently we see that the price is in a position where it can form a triangle correction model and ABC correction pattern may continue. So at the present time we wait at the price of 2341.8 to confirm any model. - If the price breaks 2341.8, the targets of wave C continue to be completed. Then we wait for the target levels of wave C, i.e. area 2350 or area 2365, to sell down. - If the price cannot break the 2341.8 area, the price may form a triangle correction pattern abcde. Then we wait for the price to break the lower boundary of the triangle pattern to sell to the target area of ​​wave 5. In general, in a complex adjustment process, it is not feasible to conduct many transactions in this area, so we should patiently wait for the target areas. In this process we will prioritize Scalping
OANDA:XAUUSDShort
by DEEKOP
XAUUSD June 18, 2024 a potential sharp declineGold prices are recovering after last week's sell-off as the US economy forced the Fed to adopt a more dovish stance. Weak manufacturer inflation data and a rise in initial jobless claims supported lower interest rates. Additionally, escalating geopolitical tensions, such as increased attacks by Hezbollah on Israel and more Russian warships in the Caribbean, have contributed to this rebound. Looking at the adjustment process from June 8 to the present time, we can see that this is a complicated adjustment process. - Trading in a complex correction is not recommended. We watch for this adjustment process to complete - During this process we can scalp in short price ranges in smaller frames. - When the price reaches the expected targets, we will consider placing an order. Looking at H1, we see that the wave C correction process is still continuing. We observe the price reaching the target price zones 2350 and 2356. - The price will confirm the target areas of wave C when it breaks out of the 2341.8 area, then we focus on observing the chart to find a Sell order. - In case the price breaks out of the 2296 price range, it is likely that the adjustment process has been completed and if the price also breaks out of the 2287 area, then the target price area for wave 5 is 2256 and 2210 will be the areas we focus on. closely to find Buy orders.
OANDA:XAUUSDShort
by DEEKOP
XAUUSD After a week of volatile news from the Fed Last week we observed that US inflation indicators showed signs of cooling down. - Wednesday's CPI dropped from 3.45 to 3.3% - PPI index decreased -0.2% Inflation indicators decreased while economic indicators were negative - As the unemployment rate and unemployment benefit application rate increase This shows that the Fed's monetary policy is effectively reducing inflation, specifically consumer price CPI and production costs, while also reflecting the negative economic impact of the policy. this book. This requires that the Fed may begin to loosen monetary policy in the near future Look at D1 - We see that the correction has completed wave B and is continuing wave C of wave 4. - We can measure the target of wave C at 2 price zones 2256 and 2210 price zones. - We have a price zone confirming the final wave 4 which is the 2150 price zone. If the price breaks through this zone, our ABC wave counting process is no longer correct, then we have to re-plan a new plan based on new data. Look at H1 - The price has broken out through the 2323 zone and is testing this zone again. Looking at the reversing momentum in the oversold area, it is likely that the price has successfully tested and continues to rise to the target areas of wave C above. - Yesterday we measured the target wave C which is 2 areas 2354 and 2360 - The target area of ​​wave C is a very good area for us to look for Sell down orders - Combined with chart D1, we will have the price range where this decrease will end at 2256 or 2210. - We also have a zone that denies this wave counting process when the price surpasses the 2388 zone, then the price has entered an uptrend and we are forced to change our trading strategy at that time (I will update later if that happens).
OANDA:XAUUSDShort
by DEEKOP
2
What's changed in the gold price in the new week?Hello, let's analyze today's gold price! In the chart, although gold on Friday had a strong recovery of nearly 300 pips, in the long term it is still in a downtrend with the price channel remaining stable. Regarding the target and upcoming direction: From technical analysis, I expect the price to decrease more after the adjustment reaches the upper limit of the price channel. The target is 2280 USD. And you, what are your thoughts, do you think gold will increase or decrease this week?
OANDA:XAUUSDLong
by HamedMarkets
1
Update the latest gold price today!Today, gold has decreased slightly by 10 USD, currently trading around 2315 USD. This comes as the US Dollar tumbled following the release of much-anticipated economic data. Gold's short-term downtrend continues. Technical analysis: Trendline Break: From a technical standpoint, gold has broken above its trendline, signaling continued bearish momentum. EMA Confirmation: The bearish outlook is further supported by gold trading below the 34 EMA and 89 EMA. Price Target: The next important level to watch is $2300, which remains the desired target in this downtrend. What do you think about gold's movement? Are you expecting the next decline or do you see a potential turnaround? Let's discuss!
OANDA:XAUUSDShort
by HamedMarkets
EURAUD - 15M (LONG)FOREXCOM:EURAUD Hello traders , here is the full multi time frame analysis for this pair, let me know in the comment section below if you have any questions, the entry will be taken only if all rules of the strategies will be satisfied. wait for more Smart Money to develop before taking any position . I suggest you keep this pair on your watchlist and see if the rules of your strategy are satisfied... Keep trading Hustle hard Markets can be Unpredictable, research before trading. Disclaimer: This trade idea is based on Smart money concept and is for informational purposes only. Trading involves risks; seek professional advice before making any financial decisions. Informational only!!!!
Long
by Phinics
Gold price today: Continuous increase of nearly 300 pipsHello everyone, yesterday gold experienced a quite significant recovery. At the beginning of the session, gold traded stably, but near the end of the session, this metal quickly increased and recovered more than 280 pips. Currently, gold temporarily closed at 2332 USD and increased about 1.24% during the day. Accordingly, gold prices increased despite the USD index anchoring at a high threshold. Although under some pressure, the fact that gold is still above 2,300 USD/ounce proves that buyers still actively consider the adjustment and price decrease as Good opportunity to increase gold holdings.
OANDA:XAUUSD
by HamedMarkets
3
Gold price today: Recover more than 100 pipsHello everyone! What do you think, where will gold close today? In this analysis, I'll be focusing on gold's recent recovery. The precious metal recently broke out of its short-term upward trend after surpassing the trendline. Despite this, it has found new momentum and is currently hovering around the psychological level of $2300. Looking at the 1-hour chart, I’ve observed that gold has rebounded over 140 pips. It seems to be targeting the $2323 level, with the next resistance around $2338. That's my take. What about you? Do you think gold can reach these targets, or will it pull back again? Let me know your thoughts in the comments!
OANDA:XAUUSD
by HamedMarkets
3
Xauusd after a series of important news from the Fed Yesterday's news announced to us First, the ppi decrease combined with the unemployment benefits application index increased. Combined with a decrease in CPI, this is beneficial for Gold to increase because the economic situation seems to be weakening, putting pressure on the Fed to reduce interest rates. However, Nonfarm data, specifically the employment index, has increased sharply in the recent period, which is the motivation for the Fed to keep the current interest rate at 5.9%. This is the reason why PPI news, although beneficial for Gold, cannot last long. Look at H1 - We are having the idea of ​​an abc correction model. In which we expect wave c to complete - In front of us we have 2 important price zones: 2307 and 2287, these are 2 price zones that help us determine the direction of the price. - If the price breaks out at 2307, this is a necessary condition for the orange wave c to complete. Then we have 2 target price zones of wave c: 2350.4 and 2364.6. These are 2 areas where we can look for Sell orders - If the price breaks out below 2287, this is a necessary condition for the price to fall to the target zone of wave 5, which is 2264. This is the area where we look for a Buy order.
OANDA:XAUUSDLong
by DEEKOP
Gold Price reduced at the end of the trading session!Hello everyone, today the price of gold continues to trade around the psychological level of 2300 USD. Accordingly, gold was not beyond my prediction when it approached 2300 USD to receive new resources around this support area. After the Fed's above announcement, gold lost its inherent momentum, causing the number of investors buying to decrease significantly. Not only that, the gold market also witnessed strong selling momentum after the US Bureau of Labor Statistics announced that the consumer price index (CPI) in May remained high, the main reason why the Fed extended the Delay interest rate cuts. Gold price forecast: -In terms of market psychology as well as news: negative reaction to monetary policy and pressure from the rising USD, weaker buying demand from China makes it difficult for gold to increase in price during this time. - Technically: Gold is in a downtrend, the price moves below the resistance level and the Trendline line decreases. The price is affected by the EMA 34, 89 which is still beneficial for selling momentum. The reduction target to the support level of 2288 USD is again targeted in the short term.
OANDA:XAUUSDShort
by HamedMarkets
XAUUSD June 13, 2024 After news of CPI and Fed interest ratesYesterday we had the Fed's announcement about the CPI index, we saw that this index was 0.3 to 0.4 lower than the previous period. This is the result when the Fed implemented tightening monetary policy in the past. After that, the FOMC meeting announced that interest rates would continue to remain at 5.5%. - This made gold yesterday, after the announcement of CPI increased to 2340, then the news that interest rates remained high at 5.5% continued to push gold prices down. Look at the H1 chart - Yesterday's pullback to the 2340 price range reached the 50% Fibo level, which is a level that has surpassed the usual 38% level of wave 4. This suggests to us a more complex wave model - For now, at this position, we observe the price zones to confirm the formation model, which are the price zone 2307 and the price zone 2287. - If the price holds above the 2307 area, then we will have wave 5 formed at the 2287 area, meaning wave C during the ABC correction looks like D1 has completed. Then we have wave C higher than bottom B. Looking at D1, we see that a new complex correction model can form (I will update later). - If the price breaks through the 2287 area, we have wave 5 targets as on the chart we mentioned before.
OANDA:XAUUSDShort
by DEEKOP
Today's Gold Price Update: A Continued DowntrendGold prices today continue to face downward pressure, currently trading around $2314, losing 0.45% for the day with a drop of over 100 pips during the early Asian trading session. Despite a strong rally last night that pushed gold close to $2350, the precious metal couldn't maintain its recovery. This was despite the U.S. Dollar weakening after the U.S. released its economic data. The USD took a hit after the U.S. Consumer Price Index (CPI) for May showed a faster cooling than economists had anticipated. The CPI remained flat after a 0.3% increase in April, while the forecast was only for a 0.1% rise. Gold Price Forecast: News Perspective: The Federal Reserve is expected to implement two rate cuts this year, with an 80% chance that the first cut will happen in September. This scenario typically leads to a weaker USD, which could benefit gold prices. Psychological and Technical Perspective: From a technical standpoint, gold remains in a downward channel. In the short to medium term, the market sentiment still favors selling gold. The EMA and trendline indicators continue to support the bearish outlook for gold. Key Points: Current Price: $2314, down 0.45% for the day. Support and Resistance: Unable to sustain gains around $2350. Economic Data Impact: USD weakened after lower-than-expected CPI data. Fed Rate Cuts: Expected to cut rates twice this year, with the first likely in September. Technical Indicators: EMA and trendline favor continued bearish movement. Stay tuned and watch for how these factors play out in the coming days. What’s your take on the current gold trend?
OANDA:XAUUSDShort
by HamedMarkets
Impending “Death Cross” keeps Gold sellers hopefulThe US Federal Reserve’s (Fed) hawkish halt failed to impress the US Dollar buyers as softer inflation data raised doubts about the central bank’s one rate cut in 2024 projections. The same allowed the Gold price to refresh weekly high during its three-day uptrend by the end of Wednesday. However, failure to cross the key SMAs and a looming “Death Cross” of the 100-SMA and the 200-SMA joins the unimpressive RSI (14) and an impending bear cross on the MACD to challenge the precious metal buyers afterward. That said, the quote currently drops toward a 10-week-old rising support line, close to $2,288, a break of that will highlight the previous monthly low of $2,277 and the early April swing lows surrounding $2,266 as the seller’s favorite. It’s worth noting, however, that the XAUUSD’s sustained weakness past $2,266 will make it vulnerable to a slump toward the March 21 peak of $2,222. Alternatively, Gold buyers need a clear upside break of the 100-SMA and 200-SMA convergence, close to $2,343-44 by the press time, to retake control. Even so, a three-week-old descending resistance line will test the XAUUSD bulls around $2,371. In a case where the precious metal remains firmer past $2,371, the monthly high of near $2,387 and the $2,400 threshold could challenge the upside momentum targeting a two-month-old horizontal resistance area surrounding $2,433-34. Overall, Gold teases sellers after the top-tier catalysts but a clear break of $2,288 becomes necessary to expect the metal’s further downside.
OANDA:XAUUSD
by MTradingGlobal
XAUUSD June 12, 2024 everyone waiting for the CPI roundLast week we had strong market fluctuations - Looking from the US economic perspective, we see that with the economic indicators announced last week, we see a number of important issues. - ISM PMI index, which is an index measuring the development of the industry, is lower than 50 standard units of this index, signaling that the industry is slowing down. - The unemployment rate and the number of applications for unemployment benefits increased, showing that the economic situation is slowing down With bad economic signals, the main reason is due to high interest rates, which reduces the cash flow in the US economy, causing a lack of capital for economic development. However, on Friday when the Nonfarm index was released, we saw a sharp increase in the job change rate, which could be the medicine to help the Fed maintain high interest rates for a while longer. Curbing inflation to 2% will come at the cost of economic stagnation, so today's CPI will help us have a clearer view of the decision to cut interest rates in the near future. . From an analytical perspective according to Elliot - After forming the abc wave structure (black), the price does not decrease according to the previous trend but forms a structure running in a triangle wedge. This brings us to a complex adjustment model abcde - Looking at the complex correction model, it is difficult to specifically identify each wave. We can only recognize when the model is complete - This pattern is confirmed when the price breaks out of the lower boundary of the triangle. We will wait for this Breakout to enter a sell order. - In case the price breaks out to the upper edge, this correction model is no longer correct when measuring, we must confirm the price model at that time. After wave 4 completes, the price continues to follow the previous downtrend to complete wave 5 - We have wave 5 targets at 2 price zones 2264 and 2229. - We can find buy points in these areas. Deekop's analysis is free from any personal bias intended to serve everyone. I can't always be right - no one can. But my analyzes reflect Deekop's meticulous assessment of the market situation in the medium and long term and nothing more to help people have the best trading plan.
OANDA:XAUUSDShort
by DEEKOP
XAUUSD: Waiting for a new selling opportunity from FOMCHi everybody, In today's trading session, gold prices increased slightly. However, the looming threat of a "hot" inflation report from the Federal Reserve's FOMC meeting starting this morning (June 12) could push gold prices down. While demand from bargain hunters has boosted gold prices, gains have been limited by a strong US dollar. Recent positive economic news from the US suggests the Fed may continue its current monetary policy for longer. Additionally, with several major central banks having already cut interest rates and possibly further cuts in the coming months, the dollar remains high and could rise further, putting pressure on gold. Stay tuned to see how the market behaves in the coming days!
OANDA:XAUUSDShort
by HamedMarkets
5
Gold→ Cause of decline. Can gold fall even lower? 2265Traders! Gold is making new lows and there are a number of reasons for that. Price after Friday's sell-off is returning to the downtrend boundary, which determines our medium-term outlook. So why is gold falling? The market is negatively affected by the strengthening of the dollar, due to positive Nonfarm Payrolls for the US market, which usually shapes the medium-term mood for the market. Traders also turned bearish on news regarding China's Central Bank suspending global gold purchases. Technically, it is very likely that the downtrend on H1 will continue. Resistance levels: 2300,2315 Support levels: 2291, 2267 I expect local strengthening ahead of the next decline. Traders may attempt to buy back some of the decline (collect liquidity) before further testing support with a view to a breakout.
OANDA:XAUUSDShort
by HamedMarkets
1
Gold price today: Costed the price of 2300 USDThe current situation: On June 11, 2024, gold price is trading around the psychological level of 2300 USD/ounce, increasing significantly compared to the previous closing. This increase takes place in the context of weakds of the dollar and the yield of bonds decreases slightly. Impact factors: -Global monetary and economic policy: Investors are expecting monetary policy decisions from the US Federal Reserve (Fed) this week. It is forecast that the Fed can keep or cut interest rates that weaken the dollar, creating favorable conditions for the increase in gold prices -Safety and investment bridge: Gold benefits from the role of safe shelter in the context of economic and financial instability. With concerns about global economic growth and fluctuations in the stock market, investors are looking for gold as a safe investment option. Forecast in the short term, gold prices are likely to maintain an increase trend if the support factors such as the dollar weakened and the bond yields decreased. From the technical analysis: Currently, the latest support threshold of gold is about 2310 - 2315 USD/ounce. Strong resistance threshold is determined at 2,385 USD/ounce. The breaking of this resistance threshold can bring gold to higher levels in the coming time
OANDA:XAUUSD
by HamedMarkets