XAUUSD Analysis Today (August 20, 2024)Hello everyone,
After a period of consolidation within an ascending triangle, gold has broken out and is now approaching the psychological level of $2,520. This is supported by the rising trend line and the bullish crossovers of EMA34 and EMA89, confirming the current bullish momentum.
Based on the technical analysis, the uptrend of XAUUSD is likely to continue in the near term. The next target could be the strong resistance zone at $2,530. However, if there is a correction, the support zone at $2,505 will be the key price level to watch.
Optionsstrategies
Banknifty Trend Report Hello Everyone 👋
Today Bank-Nifty Try to Break High if Bank-nifty Break High so we need to cut our Down position.
Give me Some Time Today We upload Some Levels So you Can I Easily Identify Trend.
1.Bullish Shark Harmonic Pattern: The BANK-NIFTY chart currently showcases a Bullish Shark Harmonic Pattern forming within a rising parallel channel. This pattern suggests a potential bullish move, provided that the price holds above the crucial level of 50,149. That level should act as a strict stop loss.
2.Recent Trend: On August 14, there was a trending move. The price consolidated in the morning for a few hours and then started to fall. Currently, the price is at a support level, and it can either move up or continue to fall. The trend direction is still deciding, so keep an eye on it.
3.Long-Term Investment Considerations: If you’re considering long-term investment in the banking sector, consider Bank Nifty ETFs. These exchange-traded funds offer easy diversification and flexibility.
Advanced Data Base Option's Trading #NSE #BSEInstitutional options trading refers to the buying and selling of options contracts by large entities such as banks, pension funds, hedge funds, mutual funds, and other institutional investors. These institutions accumulate funds from various investors to trade on their behalf.
Options are financial derivatives that give the holder the right (but not the obligation) to buy (call option) or sell (put option) an underlying asset (such as stocks, commodities, or currencies) at a predetermined price (strike price) within a specified time frame (expiration date).
Here are some key points about institutional options trading:
1.Institutional Traders vs. Retail Traders:
*Institutional Traders: These traders manage accounts for institutions or groups. They trade larger volumes and have access to more exotic products, including complex options.
*Retail Traders: These traders operate personal accounts and typically trade smaller sizes of assets.
2.Advantages of Institutional Trading:
*Access to a wide range of financial instruments, including exotic options.
*Ability to execute large trades efficiently due to their substantial funds.
*Influence on market prices due to their significant trading volumes.
3.Service Providers Used by Institutional Trading Firms:
* Bloomberg
* Thomson Reuters
* Factset
* Marketwatch
4.Educational Requirements and Job Opportunities:
*Becoming an institutional trader often requires a strong educational background in finance, economics, or related fields.
*Job opportunities include roles in trading, risk management, and portfolio management.
5.Earnings:
*Institutional traders can earn substantial salaries, but compensation varies based on experience, performance, and the institution.
Remember that institutional trading strategies involve careful analysis, calculated moves, and a long-term perspective, as these traders significantly impact market dynamics.
BankNifty Analysis for Tomorrow 1st August 2024BankNifty Analysis for Tomorrow 1st August 2024
As per our analysis for Bank Nifty, we are expecting these lower levels tomorrow, kindly check the charts on 15 min time frame and act accordingly.
*Previous Close: 51553.40*
Buyers can be active above Zero Line (Previous Closed): 51553.40
Level = TGT 1 : 51839 | TGT 2 : 52036.85 | TGT 3: 52218.60
Sellers can be active below Zero Line (Previous Closed): 52,278.90
Level = TGT 1 : 51305.55 | TGT 2 : 51136.45 | TGT 3 : 50929.35
Few Points Needs to be remembered :
- Chart Using "Standard"
- All the levels are based on 15 min chart only
- These Analyzed levels should only be considered as Intraday Levels
*Disclaimer*: All the provided levels are for educational purpose only, please do your own analysis before doing any trade in the live market or consult your financial advisor before act.
Follow Us for More Updates in Future
Gold price at the end of the session: There is still no new breaGold prices are currently correcting in a narrow range and are testing important support and resistance levels. Trading strategies should be built based on price reactions in these zones, while always considering risk management factors.
Support and Resistance:
Critical support: Area around $2,310,000, shown by light blue area.
Key resistance: Area around $2,345,000, shown by the red area.
Potential Scenarios:
The price may continue to correct and retest the light blue support zone. If this support holds, the price is likely to bounce back and retest the red resistance zone.
In case the price fails to hold support, it may continue to fall deeper.
Trading strategies:
Buy order: Consider at the support zone of 2,310,000 USD if there is a signal of a bullish reversal, with the target being the resistance zone of 2,345,000 USD.
Sell order: Consider if the price fails to overcome the resistance zone of 2,345,000 USD, with the target being the support zone of 2,310,000 USD.
What does gold price change at the end of the session?Yesterday, gold prices found a boost, rebounding from the $2,300 level. However, this rally was short-lived and primarily represented a correction within the broader trend. The precious metal remains constrained below the trendline, with accumulation phases and bearish pressure still prevailing. Currently, the price stands at $2,320, marking a 0.33% decline for the day.
Today, the market is awaiting the release of the Personal Consumption Expenditures (PCE) price index report. This report is regarded as one of the most significant inflation indicators that can influence the Federal Reserve's monetary policy, as it is the Fed's preferred inflation gauge. Given its potential to cause substantial market volatility, it is crucial to monitor this report closely and ensure that your take profit (TP) and stop loss (SL) levels are properly set when trading.
Gold strategy today: Should Buy or Sell?Hello everyone, let's explore today's gold prices together!
Yesterday, the gold market seemed relatively calm with minimal fluctuations, and the downward trend continued. Currently, the precious metal is hovering around $2321 and appears to be forming a head and shoulders pattern.
If this pattern completes, we could see the price testing the psychological level of $2300 today. The strategy to sell remains the preferred approach.
EURUSD: Prediction is still discountedDear traders!
The EURUSD pair is currently moving sideways and forming a triple top pattern. The support at 1.067 is holding but could soon be broken due to persistent selling pressure.
The RSI is stable and the 34 and 89 EMAs are tilted towards the bears. Trend following strategies are emphasized and I am favoring short EURUSD.
Do you agree with this view? Share your thoughts in the comments below!
EURUSD: Continue to discount!EUR/USD hovered at familiar levels on Wednesday, continuing to languish in a prolonged downtrend that has persisted for several weeks as Euro traders await impactful data releases. Momentum is expected to remain subdued as the market anticipates fresh data that could potentially invigorate market dynamics starting Thursday. Therefore, we anticipate the currency pair to trade sideways today.
GBPUSD: Price is still favorable for SellersToday, GBPUSD is trading around the 1.263 level, with the main trend favoring the sellers. The technical outlook points towards further downside targets as the pair remains within a descending wedge. I will trade with the trend and prioritize selling this pair.
Pay attention to the upper and lower limits to find optimal buy and sell opportunities, and be mindful of your stop loss (SL) and take profit (TP) levels when the price breaks out.
Gold price today: Strong decreaseHello everyone, let's find out today's gold price and see what changes!
Currently, gold has just undergone a fairly strong price correction at the end of yesterday. Accordingly, the precious metal quickly plummeted from 2320 USD to the psychological level of 2300 USD and is currently trading around the threshold of 2297 USD.
Accordingly, gold is receiving support around this support level but it is still controlled by the bears. Technical indicators and trend factors are still in favor of sellers and according to DOW theory, gold's target is to find the fibonacci take-profit level of 1.618.
Let's wait for gold's downward move after it breaks out of the current support level!
What should GBPUSDT today be traded?GBP/USD remained below the 1.2700 mark, trading sideways on Wednesday. The diverging policy outlooks between the Fed and the BoE, coupled with anxieties surrounding the upcoming UK elections, have kept this currency pair within a familiar range amidst a prolonged downtrend. The focus remains on a downward trajectory targeting the next support level.
GBPUSD Sell strategy?Hello everyone! What are your thoughts on GBPUSD today?
From our chart analysis, it's evident that this currency pair is under bearish pressure. It has recently broken below the ascending trendline and is currently in a downtrend wave.
Currently trading at 1.266, I believe GBPUSD might gain some short-term bullish momentum from the support around this level. However, it is likely to resume its downward trend after completing a retracement to the 0.5 - 0.618 Fibonacci levels.
My target for this scenario is 1.252. What about you? Do you agree with this analysis, or do you have a different perspective?
Evaluate the strategy and outlook for gold prices today!Current Trend: The 4-hour chart shows gold in a short-term uptrend. The price is above the EMA 34 and EMA 89, showing that the upward momentum is still strong.
Critical Support Zone: 2,335 USD - 2,333 USD, coincident with the EMAs, acting as a strong support zone.
Key Resistance: $2,387 is the resistance to watch out for. If the price breaks this level, the uptrend could be further strengthened.
Trading strategies:
Buy: When the price adjusts to the support area around 2,335 USD and shows signs of rebounding.
Sell: When the price approaches the resistance level of 2,387 USD and shows signs of strong rejection.
Gold price creates new breakthrough!At the start of the trading session on June 21st, gold prices saw an uptick, spurred by market anticipations of an impending rate cut from the U.S. Federal Reserve, following weaker-than-expected retail sales data earlier in the week.
While gold may have lost some of its upward momentum, the overall market sentiment remains largely optimistic. Numerous hedge funds have pivoted towards gold, which has helped maintain a solid support level at $2,300 per ounce.
A significant pillar bolstering the gold market is its status as a safe-haven asset, providing a hedge against risk amid ongoing global geopolitical instability.
Gold Price Forecast
The gold market is poised for a resurgence as the Federal Reserve's monetary policy becomes more defined. With an expected shift in policy direction, investment demand from the West is likely to increase, potentially setting the stage for gold to soar.
USDJPY: Outlook is still bullish!USD/JPY is trading near 159.00 early Friday, below its highest level since April. Japan's verbal intervention provides support for the Japanese Yen amid BoJ uncertainty over interest rate hikes and mixed national CPI data. US Dollar recovery slows ahead of key PMI data.
From a purely technical standpoint, the trend is bullish across all timeframes and with the saying that “the trend is your friend” it is more likely to continue higher. USD/JPY is currently trading at 158.50 as it continues to rise in the ascending channel.
GBPUSD : Still on sale !GBPUSD is on a downward trend, the price fell sharply late yesterday and it is currently trading around 1,266 and sellers have successfully broken the support level of 1,266. The outlook for further downside as the 34 EMA reverses remains stable. Sales strategy is prioritized.
EURUSD: Sellers are still profitableEUR/USD took a familiar dip this Thursday, retreating to the 1.0700 mark as a lack of economic data from the US supported the Greenback.
As we head into Friday, markets are set for a data-heavy series, including Purchasing Managers' Index (PMI) figures for both the EU and US The outlook remains bearish with the model The price wedge remains intact and the downtrend remains active, supported by the 34 and 89 EMA.
EURUSD strategy: Should Buy or Sell !On Wednesday, EUR/USD experienced an uptick as the U.S. markets took a mid-week holiday break. As we move into the second half of the trading week, investors are looking ahead to the Friday PMI data for meaningful insights that could steer market sentiment.
Despite the recent recovery, uncertainty lingers. The pair is still facing significant resistance and a downward trendline. Keep an eye on these levels – if EUR/USD breaks through the resistance, a buying opportunity could emerge. Conversely, if the resistance holds, selling might be the better strategy.
Stay tuned and watch those key levels closely!
EURUSD: Prospects still decreaseToday, EURUSD remains confined within a descending wedge pattern. Key technical indicators, including the trendline and EMA, continue to favor a bearish outlook for investors. As long as the upper boundary of the wedge holds, the selling trend strategy remains the preferred approach with high expectations.
EURUSD: Still discounted!Hello traders! 👋
As we approach the end of the trading week, EURUSD remains in the red on this Friday, currently hovering around the 1.071 mark. The outlook remains bearish as the pair continues to trade within a tightening wedge pattern, and both the EMA 34 and EMA 89 are favoring the sellers.
Key Observations:
Current Level: EURUSD is trading near 1.071, struggling to find upward momentum.
Bearish Wedge Pattern: The pair is confined within a narrowing wedge, indicating potential for further downward movement.
EMA Indicators: Both the 34-day EMA and 89-day EMA are aligning with the bearish trend, providing additional resistance to any bullish attempts.
Trading Outlook:
With the prevailing bearish sentiment and technical indicators supporting the sellers, the focus remains on short positions.
Stay vigilant and consider these factors in your trading strategy. Happy tradi
Gold buying strategy is preferredDear traders!
Gold price today recorded a slight recovery, the price moved to 2337 USD and in the short term is still supporting this upward movement when from the precious metal analysis chart, it has reached an important resistance level and Get momentum when breaking the trendline.
It is expected that after the trend adjustment, the price will continue to go up, the Buy target and strategy are prioritized in that case.
Plan transaction on June 20
👨💻 XAUUSD BUY zone 2328 - 2325
🔹SL 2322
🔹TP 2334 - 2340 - 2350
Wishing you Full City 💵💵