Gold maintains the rising momentumCurrently, the gold market is still trading quiet at 1928 USD with little fluctuations after the Fed information decided to keep the interest rate at 5.25% to 5.50% at the Monetary Policy meeting in September . Gold continues to move in defense levels with fluctuations within $ 1937 resistance and support at 1918 USD.
Metals
GOLD [XAUUSD] Long/Buy setup-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. Then, we can easily reach 1885 -1880.
-Moreover, it is just a buy setup until it does not break the recent low, so buy on dips.
Gold recovered but still facing difficultiesHello traders. What do you think of gold? On the 4 -hour time frame we can see that gold is trying to recover the hole of the previous day, currently trading at 1927 USD.
However, with the influence of the interest rate of the US Treasury bonds for many years, this is capable of preventing the significant increase in gold price.
According to Samson's own opinion, gold will quickly retreat to 1896 before any move of the upcoming Fed.
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Trend is about to get strongerChart is self explanatory.
Ideal scenario will be a day or two consolidation at current levels which will make the momentum oscillator cool off to 78-82 range.
Post this consolidation, we may see the explosive move.
And everyone knows, an explosive move in this index means a lot for riskier asset classes.
Savndhan Rahein Surakshit Rahein
The maintenance of gold has increased, the next goal is determinHello traders. What do you think of gold? Gold price fell on the third consecutive day on Thursday. The decline occurs when interest rates are reduced, showing that a significant decline may not occur at this time. However, capable of recovery in the short term, with the original goal of the weekly high level of 1947 USD/Troy Ounce (September 20).
USD price increased dramatically, gold plummetedWorld gold prices dropped in last night's trading session after the US Federal Reserve's (FED) monetary policy meeting.
On the other hand, the interest rate on 2-year US bonds jumped to 5.2% and 10-year bonds to 4.48%, stimulating investors to put capital into bonds. This means very little money flows into gold. The price of gold today is inevitable.
Meanwhile, US and European stock markets continued to go red. Many stock investors have transferred capital into USD, helping this currency increase in price even more, putting the gold market in a disadvantageous position.
Technically:
Gold is still in the main downtrend, so the price is likely to decrease quite a lot.
Gold price consolidates within symmetrical triangle above $1,900Gold price bounces off a one-week-old rising support line, as well as the 200-SMA, within a symmetrical triangle comprising levels marked since late July. Given the near-50.0 levels of the RSI and the impending bull cross on the MACD, the XAUUSD is likely to extend the latest rebound. The same highlights the 50% Fibonacci retracement of its July-August downside, near $1,937, ahead of shifting the market’s attention to the stated triangle’s top line, close to $1,947 at the latest. In a case where the bullion price remains firmer past $1,947, the monthly high of around $1,953 will act as the final defense of the bears.
On the flip side, the 200-SMA and an ascending support line from the previous week limit the immediate downside of the Gold price near $1,918 and $1,916 respectively. Following that, the triangle’s lower line surrounding $1,906 and the $1,900 will be crucial to watch for the XAUUSD bears. In a case where the metal remains bearish past $1,900, the odds of witnessing a slump toward July’s low of $1,885 can’t be ruled out.
Overall, the Gold Price is likely to remain sidelined within the aforementioned triangle but advocates more volatility ahead.
Gold price analysis todayHello Samson! Are you wondering how gold price is trading today?
Currently gold price stands at 1,932 USD/ounce, up 9 USD/ounce compared to the same morning.
Looking at the technical picture, we can see that gold has returned to the expected resistance line.
Assuming that the short -term trend line still has the possibility of gold will break through the 1937 resistance level and aim for the target of 1945 USD and 1955 USD respectively. Can invite many buyers to participate in the game.
XAUUSD today's trading sessionXauUSD continues to fluctuate around the price of 1930 USD/ounce. It can be noticed that this metal has not had significant fluctuations compared to the session yesterday. However, when we look at the D1 chart, we can easily see that gold forms a peak at 1936 USD expected to decrease short -term.
Gold continues to wait for information from the Fed before deciding to increase or decrease significantly.
What is the next goal of gold?Hello everyone!
Today, the decline of the US dollar (USD) is an important factor to promote gold price increasing and trading around 1933 USD/ounce.
On the H4 chart in the long run, it is possible that the range of $ 1945 - $ 1947 will be the area that traders increased prices as well as a strong semi -seller for the seller. But with the market today there is no news like this, selling at $ 1933 will become more suitable for the purpose of expanding the scale.
Forecast of gold price today and forecast next timeHello everyone! Currently, gold prices are trading steady as supportive policy measures and strong business activity data from China have boosted market sentiment and dampened safe-haven demand for investors. against the US dollar, limiting the currency's recent gains.
Furthermore, the stagnant sentiment surrounding US Treasury bond interest rates is also supporting gold prices without generating profits.
Looking at Gold's technical picture on the 4-hour chart, we can see that strong resistance at $1,920 is holding with a possible drop to $1,900.
In the near future, there could be a scenario where gold sellers break the support level to start a new downtrend towards the static support level at $1,885.
XAUUSD facing resistance on Fib Golden zoneAs you can see that during this decline cycle gold price faced resistance on golden fib zone previously 2 times on daily time frame,
current price is also trading under this golden zone for current retracement phase , watch this zone carefully if daily candle close above this then we can expect good bullish move but if the price failed again to break above this then we can expect another down move .
Gold prices continue to be under downward pressureThe world gold price stood at $1,919, down $6 from the same hour last morning. Precious metals are experiencing a brief technical sell-off amid a lack of supportive information. In addition, the USD and bond yields continued to increase, putting pressure on gold. In the short term, gold continues to be under downward pressure.
Even so, gold has strong support at the 200-day moving average, around $1,920. At the end of the year or early next year, the selling pressure on precious metals will decrease. The USD is expected to weaken following signals of the Fed's gradual loosening of monetary policy. Besides, the gold consumption season at the end of the year can also support this commodity more actively.
The gold market is under technical selling pressureWorld gold prices this morning increased slightly in the context of the market waiting for further data from the US economy to guide prices. It is expected that the August Consumer Price Index Report will be published on September 13.
The gold market is under technical selling pressure due to a lack of price increase motivation. Recent negative information about China's economic situation has put significant pressure on the gold market due to concerns about falling demand for precious metals in the country of billions of people.