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EURUSD → At the beginning of a broader Bearish reversal ?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 short-term downward technical trend. Otherwise, a higher breakout will reveal the Fibonacci retracement level of 23.6% at 1.1124. On the other hand, a breakout and immediate support confirmation will expose the 78.6% level at 1.0771 as prices fall to 1.0634.
by Rancy-SuperTrend
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XAUUSD : Waiting for recoveryGold prices (XAU/USD) fell to fresh five-month lows before stabilizing around $1,890 as market participants looked for more clues to extending the previous downturn, supported by recent downturns. hawkish Federal Reserve (Fed) concerns and risk aversion. That said, fears of a recession in China and weaker growth numbers in advanced economies coupled with firmer US data to boost US Treasury yields. and the US Dollar, which in turn affects XAU/USD. Moving on, the absence of key data/events could allow Gold Price to consolidate recent losses to multi-day lows. However, a wave of risk aversion and more stable yields could keep the US Dollar afloat, thus boosting XAU/USD recovery unless witnessing any strong positive data/news Which force can affect the Greenback and improve the mood.
OANDA:XAUUSD
by Rancy-SuperTrend
Gold prediction for todayGold yesterday had a bearish day setting a new 1903 low as the greenback continued to strengthen. Positive economic data last Friday boosted USD demand. These numbers raise concerns that the Federal Reserve could still raise interest rates further at its next meeting in September, even as markets still widely expect the Fed to end its bull run. interest rate. 103.5 is the strong resistance of USD, if it is crossed, the target for USD upside momentum will be 104.5. There may also be a correction here There are a lot of important economic data from the United States scheduled to be released today. Retail sales are expected to increase 0.4% in July. Additionally, the Empire State Manufacturing Index in New York will also be released. Gold price promises to be very exciting
OANDA:XAUUSD
by Rancy-SuperTrend
GOLD : Prediction of gold in Europe and America15 minutes ago Open interest in gold futures markets extended the uptrend for another session on Tuesday, this time by around 3.4K contracts according to preliminary data from CME Group. At the same time, volume increased by nearly 45,000 contracts after two consecutive daily declines. Gold prices extended the pessimism in the first half of the week amid increased open interest and volume. On the contrary, the precious metal looks poised to extend its decline in the near term and with the immediate target of the June low of $1893/troy ounce.F
TVC:GOLD
by Rancy-SuperTrend
XAUUSD : Golden forecast for a new weekGold prices eased slightly during the Asian session on Monday and fell to the $1,911-$1,910 zone, or the lowest since July 7 in the past hour. However, the intraday downtrend lacks further selling, warranting caution for the strong bearish traders and positioning for the recent extension of the bearish trajectory witnessed in about the past three weeks. The Federal Reserve's (Fed) outlook for further policy tightening should lift the US Dollar to fresh six-week highs and turn out to be a major factor acting as a headwind for the US Dollar. Gold price does not yield interest. Bets were reaffirmed by the US Producer Price Index (PPI) on Friday, which rose slightly more than expected in July.
OANDA:XAUUSDShort
by Rancy-SuperTrend
What is left after the gold CPI news?Gold prices make a modest recovery from July 7 lows around the $1911-$1910 region set during the Asian session this Friday and, for now, appear to have broken a four-day losing streak. price. XAU/USD is now trading around the $1,915-$1.916 region, up more than 0.10% on the day, despite a lack of bullish confidence and remains vulnerable. The US dollar (USD) is having a hard time capitalizing on a solid overnight bounce from over-week lows on weaker consumer inflation figures from the United States (USD) and a pullback. from the vicinity of the monthly high. The softer greenback is seen as the main driver of money flow towards the US dollar-denominated Gold price
OANDA:XAUUSDShort
by Rancy-SuperTrend
GOLD 9/8 : What will happen to the gold CPI news?Gold prices attracted some buying power during the Asian session on Wednesday and partially recovered the previous day's losses to the $1,923-$1,922 region, or four-week lows. XAU/USD is now trading just below $1,930, up nearly 0.20% on the day, though any meaningful upside still seems elusive. A generally softer tone around the equity markets, coupled with a modest drop in the US Dollar (USD), turned out to be the main support factor for Gold prices. Weaker China trade data released on Tuesday raised concerns about a worsening outlook for the world's second-largest economy. In addition, Moody's downgraded the debt ratings of a number of US banks and reduced investor demand for riskier assets. Anti-risk money flows tend to favor safe-haven precious metals.
TVC:GOLDShort
by Rancy-SuperTrend
XAUUSD 8/9 : Today's CPI ForecastXAU/USD fell sharply early in the US session, hitting a fresh 4-week low of $1,922.74 per troy ounce, as demand for the US Dollar increased following comments from Reserve officials. Federal. unified report on the Consumer Price Index (CPI) of the United States (USA) July. Philadelphia Federal Reserve Bank President Patrick Harker said they are getting back to more normalcy and while looking at the possibility of a soft landing, he added that supply chain problems are recovering. Furthermore, he said the Fed can be "patient" and keep rates steady, though he made clear September's decision will depend on upcoming data.
OANDA:XAUUSDLong
by Rancy-SuperTrend
XAUUSD 10/8 : CPI is approachingGold (XAU/USD) prices fell to a one-month low as they fell to $1,914 in the early hours of the Asian session on Thursday. With that said, the precious metal doesn't welcome any positive news from China, or a drop in the US Dollar ahead of US inflation data. The reasons could be related to market concerns about the health of the banking industry and the global economy. If the US inflation data turns upbeat, Gold Price could soon breach the key support level and slide below the $1,900 support while the upbeat outcome could trigger a corrective rally. correction has been long awaited.
OANDA:XAUUSDShort
by Rancy-SuperTrend
Crude oilBuy crude oil 5755 to 5750 tgt 5850 sl 5710 Crude Oil Technical Report, 30/06/2023 : Enrich financial 30 Jun 10:12 Enrich Financial Technical Outlook Crude oil traded with bullish sentiments, as it ended with a 0.21% gain, where the upward movement has come post strong US economic data, and the recovery for the commodity looks underway, where we can expect a range of 5900-5693 in the upcoming sessions if 5939 levels are retested we may see recovery and as per the 1D chart, it is technically broken a "Descending Broadening Wedge", and indicated a sideways movement, and resistance is placed at 5854 and support at 5602, indicating that if support is broken, we can see further downside, up to the range of 5500 levels. Research Report target If able to sustain above 5780 buy for targets 5814-5851 while keeping an SL of 5721, sell if breaks below 5703 sell for targets 5635-5600, keeping an SL of 5739. Crude oil Technical chart As Reported By Enrich Financial Provided by Market Pulse Technologies Pvt. Ltd. Disclaimer: The views expressed by the analyst in this document are of their own, and not that of Market Pulse Technologies Pvt. Ltd. (MPTPL) or any of it associates or subsidiaries. The information contained herein is from publicly available data and sources believed to be reliable. This document is provided for assistance only and is not intended to be and must not alone be taken as the basis for an investment decision. Nothing in this document should be construed as investment or financial advice, or to be construed as a solicitation or recommendation to buy or sell the securities/ commodities referred to in this document. Each recipient of this document should make such investigations as it deems necessary to arrive at an independent evaluation of an investment in the securities/commodities referred to in this document (including the merits and risks involved), and should consult its own advisors to determine the merits and risks of such an investment. MPTPL, its associate or subsidiaries and employees shall not be liable in any manner for the loss/damage that may arise to any person from any inadvertent error in the information contained in this report. MPTPL makes no representation or warranties, express or implied as to the accuracy or completeness of the information, provides no guarantees whatsoever and shall have no liability towards any person for losses incurred or investment(s) made or decisions taken/or not taken based on the information provided herein.
MCX:CRUDEOIL1!Long
by Shubh181995
Market Reactions to Fed’s “Hawkish Pause” Market Reactions to Fed’s “Hawkish Pause” Today the Federal Reserve chose not to proceed with an 11th consecutive interest rate hike, opting instead to assess the effects of the previous 10 hikes. However, the Fed announced that it anticipates implementing two additional quarter percentage point increases before the year concludes. While the pause was largely expected, the fact that policy makers see rates at 5.6% at year-end was what caught the market off-guard. The combination of the pause with the suggestion of two more 25 basis points hikes has been dubbed the “hawkish pause”. Following the decision, stock market closing results were mixed. The Dow Jones closed more than 230 points lower, while the S&P 500 and the Nasdaq experienced gains of 0.1% and 0.4% respectively. The Nasdaq Composite was primarily bolstered by the gains made in AI-adjacent stocks of Nvidia and AMD. The day began with Bitcoin surpassing $26,000. However, it has since retraced to a 24-hour low of $25,791. Some analysts are predicting an inevitable drop to $25,000 based on recent cryptocurrency news that is dominated by discussions on regulation. Meanwhile, gold prices initially rose to touch $1959 per ounce in the session but later trimmed gains, trading around $1945. The dollar has weakened across the board, with the DXY down 0.32%. The NZD is the biggest mover, rising by more than one percent to a 3-week high of $0.6211. Gains in EUR and GBP were more modest, at +0.39% each.
BLACKBULL:XAUUSD
by BlackBull_Markets
5 Key Factors Shaping US Dollar Trading This Week5 Key Factors Shaping US Dollar Trading This Week The US dollar is in the midst of a week filled with pivotal events. Together, these fundamental drivers hold the key to understanding the potential shifts in the US dollar's performance throughout the week: - US President Joe Biden announced that a bipartisan agreement has been reached to raise the US debt ceiling of $31.4 trillion, aiming to avoid a default. He has now called on Congress to pass the deal asap. Fitch ratings will remove the “negative watch” rating on the United States when the deal passes or looks likely to pass congress. - The debt ceiling agreement has potentially weakened the safe-haven appeal of the US dollar, leading to an increase in risk appetite in global markets. - The Personal Consumption Expenditures price index, the Federal Reserve's favored inflation measure, rose by 4.4% in April compared to the previous year, up from the 4.2% increase observed in March. This development has raised the probability of a 25-basis-point interest rate hike by the Federal Reserve in June. - Due to the Memorial Day weekend in the US, as well as bank holidays in Europe and the UK, Monday will experience reduced market liquidity. Additionally, institutions are preparing for month-end trading on Wednesday, which could introduce more volatility. - The US payrolls report for May will be released on June 2nd. Recent months have consistently shown better-than-expected job figures. It is anticipated that this week's job numbers will indicate an addition of 180,000 jobs, with a slight increase in the unemployment rate to 3.5%. A tighter job market will reinforce the Federal Reserve's hawkish stance, with strong wage data also providing support if the actual figures surpass estimates.
TVC:DXY
by BlackBull_Markets