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XAU trading strategy after PPI and CPI newsGold prices rose slightly in European trading yesterday, but fell again at the close. Meanwhile, UK inflation is showing signs of declining. Specifically, the UK Consumer Price Index rose by 4.6% in October, the slowest rise in two years, and a significant decline compared to the previous month's 6.7%. The main reason is falling fuel prices. Furthermore, the core inflation index also fell from 6.1% to 5.7%. This data was released shortly after the US CPI report and contributed to the rise in gold prices. Gold matched its 200-day moving average and posted a strong three-day rally to $1,935 an ounce. However, if the gold price declines and returns below the 200-day moving average, the upper bound of the downward price channel and the $1,883.70 level will become visible. Meanwhile, current support lies at $1,935, and the $2,000 level still acts as the next psychological resistance. Currently, the RSI index is still above the 50 point threshold, but there are no signs of overbought yet, suggesting that gold has enough strength to return above the $2,000 threshold. . The price range is $2,009.
OANDA:XAUUSDShort
by TrategySherpa
USD exchange rate today November 17: Slight decreaseThe dollar traded steadily again as information on the US unemployment situation revised expectations for Fed rate cuts. Domestically, some banks this morning lowered their US dollar transaction rate from VND5 to VND20. The dollar had fallen further after weaker-than-expected consumer price data raised concerns among many that inflation was slowing rapidly toward the Fed's 2% target. But the U.S. dollar rallied as markets grappled with uncertainty over when the Fed would cut the federal funds rate to 5.25% to 5.5% (which remains capped). For economic growth.
Short
by TrategySherpa
Gold trading strategy before CPI newsAccording to a Reuters poll, the U.S. monthly core CPI was expected to rise 0.3% in October, up 4.1% from the same month last year. The estimated intensity for September was similar for both. This statistical range could strengthen expectations that the Fed will raise rates further in December, raising rates between 5.50% and 5.75%. However, the market continues to expect the Fed to keep interest rates unchanged. According to the CME FedWatch tool, markets are pricing in an 85% chance that the Fed will keep rates unchanged at its December meeting and a 75% chance that it will cut rates next July. Craig Erlam, senior market analyst at Oanda, said further developments on the data would be really important, especially in ruling out the possibility of further rate hikes. Ellam said the dangerous risks from the Israeli-Hamas conflict have not yet completely subsided and could easily recur at any time, but as it subsides, data and the economy will return to being more important factors. He said he would come. Economists at Morgan Stanley expect the Fed to begin easing monetary policy in June 2024. These expected reductions are on the order of 25 basis points and will ultimately lead to lower energy prices. The key interest rate will fall to 2.375% by the end of 2025.
OANDA:XAUUSDLong
by TrategySherpa
New week yellow: The trend of reducing the gameSamson greets everyone! The downward trend in prices continues at the beginning of the new week. Currently, at the opening of the week, precious metals are trading around $1938. There are no new developments in the tense situation in the Middle East, and the USD continues to strengthen. The Federal Reserve has not clearly determined the possibility of an interest rate hike, which negatively affects the price of gold. On the 4-hour chart, Gold is showing signs of a reversal and is trading below two downward trend channels. Therefore, the downward trend is playing a favorable role in the market this week. The expected support level for this decline is $1915.
OANDA:XAUUSDShort
by Samson-FX
Gold prioritizes short sellingSamson greets everyone! Gold prices today are still being negatively impacted in the market as the US Dollar Index, which measures the fluctuation of the greenback against six major currencies, is at 105.685 points (a decrease of 0.09%). The "hawkish" signals from Federal Reserve Chairman Powell on Friday have weighed down gold, as this precious metal is currently lacking supportive factors. The downward trend continues to serve as an opportunity for short-selling traders. There may be a slight recovery, but it will only play a role as a corrective trend because selling gold remains the top priority strategy in the current situation.
OANDA:XAUUSDShort
by Samson-FX
Gold left 2000 USD again. What happens next?Today, the price of gold continues to move away from the $2,000 range, which it has been trading around since the beginning of the week. Currently, the precious metal is trading around $1,951. Here are some important pieces of information: Factors contributing to the decline in gold prices: - The current operating interest rate in the US is at its highest level in 22 years, at 5.25% - 5.5%. - Another reason for the decrease in gold prices is the sharp drop in oil, which is closely related to gold. The price of WTI crude oil has fallen to $77 per barrel. Despite the increase in the value of the US dollar, precious metals still attract the attention of major investors. Technical analysis: As predicted by Samson yesterday, gold has dropped below the key support level of $1,950 and has shown slight signs of recovery from this level at the start of today's trading session. However, the overall trend is still unclear. Gold needs to maintain its current support level in order to potentially return to $1,975. On the other hand, breaking the current support level could lead to a further decline towards the next support level at $1,933.
OANDA:XAUUSD
by Samson-FX
Gold price consolidated near the lowest level in three weeksSamson, hello everyone! Currently, Gold (XAU/USD) continues its efforts to achieve any meaningful recovery in European trading session, currently trading at $1949. Some officials from the Federal Reserve this week have given mixed signals about the future path of interest rate hikes, which has led to money flowing out of the yellow metal, resulting in no profit since the beginning of this week. Furthermore, investors now seem less concerned about further escalation in the Israel-Hamas conflict. This is considered another factor contributing to the erosion of demand for safe-haven precious metals. Expectations of continued decrease in US Treasury bond yields have weakened the US Dollar (USD). Additionally, market caution, along with China's economic difficulties, is believed to have somewhat supported precious metals and limited their downside. Traders are now awaiting the release of the US Weekly Initial Jobless Claims data for further motivation ahead of Fed Chairman Jerome Powell's speech.
OANDA:XAUUSD
by Samson-FX
GBPUSD ends the price increaseThe GBP/USD pair has entered a phase of decline and is oscillating within a narrow range around the 1.2220-1.2225 area. The US Dollar (USD) managed to maintain its upward momentum overnight, inspired by comments from Federal Reserve Chairman Jerome Powell, which turned out to be the main factor acting as resistance to the GBP/USD pair. On the other hand, the British Pound (GBP) is weighed down by bleak economic prospects in the UK and increasing expectations that the Bank of England (BoE) will soon begin cutting interest rates, serving as a psychological arrow for investors to sell off the GBPUSD pair. On the chart, this currency pair has surpassed the support area at 1.225, and a downward correction could bring the pair back to lower levels along the expected trendline at around 1.214 after a short-term price increase adjustment.
Short
by Samson-FX
EURUSD weekend, long -term analysisHello everyone! EUR/USD is facing downward pressure and has dropped below 1.0700 during Thursday's trading session in the US. The currency pair remained relatively quiet at the start of Friday, while technical prospects indicate a slight downward trend. From the 4-hour chart, we can observe that EUR/USD has extended its upward trend, but a completed 5-wave Elliott pattern suggests a potential price decline followed by an expected price rebound.
by Samson-FX
BTCUSDT increases, a profit tap will take placeSamson greets everyone! Creating an Elliott Wave model has significantly boosted the price of the product. At the time of writing, the cryptocurrency market is trading below the resistance level of $37,960. The upward trend is strong as it is consolidated at a high level with stable trading activity on the 2-hour time frame. Therefore, it would not be surprising if this price increase reaches $40,000. What are your thoughts on this matter? Do you agree with me?
Long
by Samson-FX
EURUSD: Is there still motivation to increase prices?The EUR/USD pair is extending its sideways consolidation trend in Tuesday's trading session and is trading below the 1.070 level. However, the price is still attempting to hold above the 1.0700 level and is dependent on the price dynamics of the US Dollar (USD). The US Dollar Index (DXY), which tracks the greenback against a basket of currencies, has rebounded from nearly an 8-week low overnight and turned out to be a key resistance factor for the EUR/USD pair. Officials from the Federal Reserve have provided mixed signals about the future interest rate hike path, leading to an increase in US Treasury bond yields on Monday and prompting some short-term positioning in USD. On the 4-hour chart analysis: EUR/USD has just surpassed the resistance at 1.068 and, according to price action principles, is currently in the process of retesting the previous breakout zone and testing the EMA line. If favorable, EUR/USD may continue to find support at this level and further develop. On the other hand, breaking below the current support level could push EUR/USD back to a lower figure estimated at 1.060.
by Samson-FX
GBP/USD : The pound continues to slipDear friends, Currently, the British Pound (GBP) is stuck in a narrow range as investors seem reluctant to establish new positions before the release of the UK's third-quarter Gross Domestic Product (GDP) data, which is scheduled for Friday at 07:00 GMT. The GBP/USD pair is still struggling as the Q3 GDP report will shape the monetary policy outlook for the Bank of England (BoE) in December. From the 4-hour chart, we can see that the price has broken out of the upward channel, resulting in a significant price increase. At the time of writing, the price is trading around 1.2272, after retreating from 1.2430. Therefore, it is likely that GBP/USD will continue to move lower in the short term during this weekend session.
Short
by Samson-FX
What is the last gold price of the week's trading session?Dear friends, Gold has put an end to its three-day downward trend. The escalating political tensions in the Middle East have increased the demand for safe haven assets like gold, despite the higher interest rates on US Treasury bonds. The XAU/USD price is currently trading around $1,958, showing a 0.03% increase for the day. According to previous analysis, the current price of the precious metal is hovering around $1,960 and receiving support from the key level of $1,950. This next recovery phase, also known as the corrective wave in Dow Theory. Support levels: $1,945.20, $1,933.20, $1,923.10 Resistance levels: $1,965.30, $1,978.30, $1,989.00
OANDA:XAUUSD
by Samson-FX
BTCUSDT increased sharply ??BTC has gradually been trading upwards since a significant move in late October. As seen on this chart, the parallel price channel A is still functioning well, breaking out of the port and maintaining a strong upward trend above $32,000 and stabilizing around $35,000 on the weekly timeframe. In the long run, BTC is expected to experience strong growth, especially in the context of unstable economy, making it a viable alternative solution for investors. The expectation for a rise to $51,100 is high. As long as it holds steady above the mentioned support levels, this expectation is entirely plausible.
Long
by Samson-FX
1
Gold price tries to keep on the lowest level in two weeksHello everyone, Gold (XAU/USD) continues to decline for the third consecutive day on Wednesday, currently trading at $1966 and losing 0.12% for the day. However, the precious metal is trying to hold above the two-week low around the $1957-$1956 area touched on Tuesday as traders await clearer guidance on the Federal Reserve's interest rate path before making new bets. Amid the risk of significant events, the US Dollar (USD) is trying to maintain a recovery from its lowest level since September 20 reached on Monday, which is believed to be putting some pressure on the price of Gold. This indicates that the overall trend in the stock market is more subdued, along with increasing concerns about worsening economic conditions in China, which may act as a favorable driving force and limit losses for XAU/USD as a safe haven.
OANDA:XAUUSD
by Samson-FX
GBPUSD: Reduce below 1,2300 when the US dollar stronger!Hello everyone, after a significant breakthrough last week, GBPUSD is currently undergoing corrective trends and showing clear short-term bearishness on the 1-hour chart. The currency pair is trading at the level of 1.229 and has lost 0.06% during the day. The GBP/USD exchange rate depicts a bearish trend in the near future after failing to break the 1.2400 level. As a result, the retracement has surpassed the previous cycle's high of 1.2337, opening up opportunities for deeper losses. Buyers need to hold the price above the highest level on October 24th, which is 1.2288, if they want to maintain hopes of higher prices. Otherwise, this currency pair will continue to extend its losses, with sellers targeting 1.2069, the lowest level on October 26th.
by Samson-FX
GBPUSD: Breakthrough transaction stepsAfter a quiet Asian trading session, GBP/USD regained momentum and reached its highest level in 7 weeks at 1.2400 on Monday. The currency pair has transitioned into an overbought state from a technical standpoint, but buyers may still be interested in the possibility of 1.2400 remaining as support. The US unemployment rate rose to 3.9% in October from 3.8% in September, with non-farm payrolls increasing by 150,000, which was lower than expectations. The US dollar (USD) continued to weaken against its major counterparts following the October employment report, and GBP/USD saw an impressive increase before the end of the week.
Long
by Samson-FX
Gold price today: Reduce shock?Samson, Hello every one! The gold price did not surpass the resistance level of $1,990/ounce last night and had to decline. As of 6:00 AM on November 7th, today's gold price was trading at $1,977, a decrease of $8 compared to the previous opening price, and it has continued to decline to $1,970 at the time of writing. In this context, the unexpected increase in the USD Index from 104 points to 105 points has caused the gold price to decline. This has led to the strengthening of the USD against six other major currencies, including the Euro, JPY, GBP, CAD, SEK, and CHF. The rise in the 10-year US bond yield to 4.64% per year has motivated many people to invest in bonds. As a result, the flow of money into precious metals has been restricted, making them less attractive and causing a sudden decrease in their prices. Outlook and trend analysis: Gold is expected to continue declining with a projected decrease to $1,953 before any motivating factors drive the price back up. What are your thoughts on this matter?
OANDA:XAUUSD
by Samson-FX
Gold price recovers slightly after the shock reduction!The price of gold is currently experiencing a gentle recovery after receiving support at the $1965 USD level, and is now trading at $1970 USD at the start of the morning session. In terms of news impacting gold: The new influx of US dollars has caused XAU/USD to drop to $1,956.65 per troy ounce on Tuesday, with the precious metal trading in the red at around $1,965 USD. The US dollar is rebounding as the market becomes more uncertain, with Federal Reserve officials warning that tightening monetary policy due to speculative interest rates may not be over. Speaking at various events, members of the Federal Open Market Committee (FOMC) agreed that inflation has eased but may require additional measures to bring it back to 2%. The financial market remains cautious despite the looming risks to economic growth at a record pace, putting pressure on gold and causing its price to decline! In terms of technical analysis on the 4-hour chart: Gold quickly dropped from the support level of $1980 and swiftly reached $1965 USD. Currently, the precious metal is bouncing back from the $1965 support level after forming a new bottom in that area, limiting the possibility of further price declines.
OANDA:XAUUSDLong
by Samson-FX
Latest gold update todayGold continues to decline, moving further away from the 2005 USD level since yesterday's trading session. At the time of writing, the price is trading at 1983 USD, providing clear evidence of the downward trend. Forecast: The upward momentum of gold is being hindered by various factors, including loose monetary policies implemented by several countries worldwide. The expected level for this decline is 1960 USD. Before any catalysts emerge to support a strong upward momentum once again.
OANDA:XAUUSD
by Samson-FX
Latest gold update today, should note what?Gold prices fell today in the context of the unexpected increase in the USD Index from 104 points to 105 points. This has given impetus to the USD to appreciate against 6 other major currencies, including the Euro, JPY (Japanese Yen), GBP (British Pound), CAD (Canadian Dollar), SEK (Swedish Krona), and CHF (Swiss Franc). Meanwhile, the 10-year US bond yield reaching 4.64% per year has prompted many to invest in bonds. As a result, the flow of money into precious metals has been limited. Today, gold prices faced additional downward pressure. On the other hand, investor sentiment is highly optimistic as most central banks are believed to have completed their interest rate tightening cycle. Additionally, the temporary easing of military conflict between Israel and Hamas has encouraged capital outflow from safe haven assets, including gold. Exiting the uptrend channel has led to an impressive price decrease at the time of writing, with gold trading at $1974. In the near future and according to the 4-hour chart, the next target level could potentially be the support level at $1965.
OANDA:XAUUSDShort
by Samson-FX