Gold braces for the second consecutive weekly gain as it confronts the key resistances on the US Nonfarm Payrolls (NFP) day. Among them, the four-month-old descending trend line is the immediate challenge for the XAUUSD bulls around $1,945 ahead of the $1,955 crucial hurdle comprising the 100-SMA and the previous support line from late 2022. It’s worth noting that...
Gold prices continue to increase today as newly released data shows that the labor market is showing signs of cooling and the US economy is slowing down. Specifically, the report on gross domestic product in the second quarter of the US Bureau of Economic Analysis showed that the economy grew by 2.1%, lower than expected. Analysts are now closely watching the...
Expected to Breakout soon. Tgt mentioned on chart.
This morning, the price of gold decreased due to a speech by Jerome Powell, the Chairman of the Federal Reserve (Fed), at the annual banking conference. Powell announced that the Fed will continue its tight monetary policy until inflation reaches 2%. This is understandable as the US Consumer Price Index (CPI) has increased from 3% in June to 3.2% in July....
MCX Silver may have started a bullish move to 85000 around now.. Wave counts & harmonics made for a bullish movement for next 2 months.. Stop loss can be kept around 69000
All eyes are on on Jackson Hole meeting today, Gold is under CPR, and DXY moving in the higher side without breaks, Let's see whats in Friday's menu
Hello Friends Here we had shared possible Elliott wave counts of SILVER international chart on daily time frame, which are clearly suggesting us that currently we are in some ending phase of correction, which might be finish any time so now selling is not suggested but buying on dips only. I repeat, buy on Dips only is suggested as per Elliott wave structures,...
Gold braces for the first weekly gain in five while bouncing off the multi-month low marked earlier in the week, piercing the 200-DMA of late. The upside bias gains credence from a looming bull-cross on the MACD, as well as a recovery in the RSI (14) line from the oversold territory. However, a nine-month-old previous support line, close to $1,950, precedes a...
The Initial reaction to the data saw EURUSD spike 50 pips lower before hovering around the 1.0820 handle at the time of writing. Key area at present with the 200-day MA resting just below the 1.0800 handle and could cap further losses. EURUSD did face selling pressure as a stronger US Dollar and rising US yields saw the pair fall to support around the 1.0840...
In Yesterday's trading session, we have seen big bullish spike /short squeeze(correction +Retailer Squeeze + Near to expiry PCR)and gold printed a healthy bullish candle which covered almost 5-session decline. On the price action note now the main task for bears is to breakdown the daily pivot as bulls now defending daily pivot successfully from last 3 trading...
On the 4-hour chart, the EUR/USD has broken short-term support levels from June, confirming an upward trend. However, resistance levels from July have maintained a downward technical trend. Immediate support can be seen at the 1.0833 - 1.0859 range. If this area holds, prices could rise and test the downward trend line from July, potentially sustaining a...
The commodity is breaking out from the head and shoulder reversal pattern on the hourly charts. The chart is self explanatory, trend which one can ride for a while.
copper on 1 hour chart made a textbook head and shoulder pattern and the head was exactly at pin point rejection with resistance zone of 756-762 lvl after completing the HnS pattern price made pullback , which was exactly rested on fib lvl of 0.5-0.6 in between which projected the price towards down side of 716.50 also there is one trend-zone coming from higher...
Our Level and Gann Box Worked Perfectly and also the Date range for bottom. The reversal made exactly from there. We are Still Long with Trailing SL :) A boost for Support Thanks
Price is trading in range on Intra day TF the range is 1885-1905 and from last 3 days price managed to close above the daily pivot and today also currently trading above the daily Pivot, so above daily pivot, there is chance for bulls to re-test the yesterday's high but overall we have seen that bears not giving any chances to bulls in any TF. to go high bulls...
Gold Price is still under bearish pressure and bulls are trying hard to break out the 1900 psychological level in bottomside 1985 is holding well on intraday TF. If you looking for a sell opportunity then for a Good decline wait it to break down the recent low or wait for rejection on High Volume areas. Buying is still Limited for scalping only.
Hello Friends Welcome to our Elliott Wave analysis of the Gold chart! This analysis helps us make sense of Gold's price movements by spotting repeating patterns. Think of it like finding familiar footprints in the sand. Imagine Gold's price as a series of waves. Elliott Wave theory suggests that these waves repeat in predictable patterns. We'll be looking for...
If Price Breakdown the trend-line support then next support is at this zone also if price breakdown from this trend-line then we can see some pullback/correction of price on gold