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The Growing Attraction in a Volatile WorldThe gold price chart shows a clear upward trend since the beginning of September, with the EMA 34 and EMA 89 both signaling a strong upward momentum. The weakening of the USD, along with global economic stimulus measures and political tensions, have pushed gold prices higher. Especially in the context of major central banks around the world - from the US to Europe, and the People's Bank of China - all spreading monetary support packages like spring rain, further fueling the desire to invest in gold. Gold remains a safe haven and attractive asset in the current unstable context. Investors need to closely monitor market developments to seize opportunities and adjust strategies promptly.
OANDA:XAUUSD
by Alexander_FXTrading
EMAs Support Bullish MomentumEUR/USD is showing signs of recovery, with the price trading near the resistance at 1.1200. The 34 EMA and 89 EMA have both undergone a crossover phase, which is usually a positive signal, suggesting that the bullish momentum could continue. The current chart shows the pair breaking out from lower levels, heading towards the resistance levels above. Based on the current EUR/USD chart and the bounce from recent support levels, the prediction is that the pair could continue to rise in the short term. The crossover of the 34 EMA and 89 EMA, coupled with the price currently testing the resistance zone around 1.1200, suggests that the bullish momentum could continue. If the price successfully breaks above 1.1200, the next target could be the 1.1250 area.
by Alexander_FXTrading
Catching the Uptrend Amid Expectations of Interest Rate CutsIn the context of the global economy witnessing major adjustments from central banks, gold prices continued to experience a spectacular week of price increases, reaching a new record high. The main reasons were the weak dollar and the continuous decline in US Treasury bond yields, combined with the tense geopolitical situation between Israel and Hezbollah. At the end of the trading session on September 23 at Kitco, gold recorded a price of 2,625.00 USD/ounce, slightly up 3.60 USD. The market is waiting for new signals from the US Federal Reserve (Fed) this week, especially the upcoming speech of Chairman Jerome Powell, along with the announcement of PCE price index data, an inflation measure that the Fed is particularly interested in. Technical analysis from the current chart shows that gold is trading right at a key resistance level, with a strong upside momentum supported by the 34 EMA and 89 EMA, which are acting as key support levels. Given the current economic and geopolitical factors, gold could continue its upward momentum if the upcoming monetary policy meetings of the Fed and other central banks yield further monetary easing decisions. Further rate cuts could further strengthen the buying interest in gold as a safe-haven asset. If gold breaks the current resistance level, the next target could be around $2,700/oz. In case the price falls below the supporting EMAs, one needs to keep a close eye on the support level at $2,560/oz, which could provide an ideal entry point for long positions.
OANDA:XAUUSD
by Alexander_FXTrading
Historic Turning Point: Gold Takes New HighGold has continued to rally, hitting new highs on the back of the Fed’s rate cut, which has weakened the US dollar and lowered bond yields. Gold is currently trading at $2,625.00, up slightly by 0.14%. Markets are expecting another rate cut by the Fed later this year, which continues to support gold prices. Technically, gold is currently above both the 34-EMA and 89-EMA, indicating a clear bullish bias. Traders should keep an eye on the next resistance level at $2,630. A successful break above this level could pave the way for further gains. However, if a correction occurs, the key support level to watch is $2,590. A pullback could be an opportunity for investors to buy, especially if the fundamentals remain bullish.
OANDA:XAUUSD
by Alexander_FXTrading
EURUSD: Confirming the bullish recovery trendEURUSD is moving around 1.1079 today and the bullish move seems to be still strong. On the analytical chart we can clearly see that EURUSD is on the rise of the uptrend with increasing confirmation highs and lows. The EMA 34, 89 are still giving good signals for the buyers and the price breached above these two EMAs so the continuation of the upward move is still preferred. Good luck to you, don't forget to leave your comments in the comment section.
Long
by Shivam_Signals
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.
OANDA:XAUUSDLong
by Shivam_Signals
2
It is expected that XAU price will continue to increase in the fThe market will also pay close attention to US CPI in June This morning, world gold prices are still trading around the high mark of last week's session. The world gold market will likely be more exciting this week Currently, optimism is covering the gold market, as recent data shows cracks in the US economy, a weakening US labor market and falling inflation. The market is expected to increase due to expectations of interest rate cuts According to analysts, gold prices have traded between $2,285-2,448 per ounce since early April, which has created firmer support and resistance levels.
OANDA:XAUUSD
by NicoTradingMaster
USD fell to two-week low,The number of initial applications for unemployment benefits in the US increased last week, while the number of unemployed people continued to increase to the highest level in 2 and a half years at the end of June 2024, consistent with the labor market being gradually cool down. Following US economic data, the dollar fell to a two-week low, making gold more attractive to holders of other currencies, while US 10-year bond yields downward. The market is currently predicting a 68% probability that the Fed will cut interest rates in September. Lower interest rates will reduce the opportunity cost of holding non-yielding assets like gold. Investors are currently waiting for the non-farm payroll report to be released on Friday (July 5) to know more about the US interest rate cut. In other precious metals markets, spot silver prices increased 3.4% to $30.51, platinum prices increased 0.8% to $999.12 and palladium prices decreased 0.1% to $1,020.98. , according to Reuters.
TVC:GOLDShort
by NicoTradingMaster
After a slight decrease, XAU suddenly turned aroundUS Federal Reserve (FED) Chairman Jerome Powell and expect US employment data to be released later this week for further signals on US interest rate cuts. Yields on 10-year Treasury notes hit a one-month high and remained high, making non-yielding bullion less attractive. The market remains very sensitive to any discussion about interest rates or anything related to FED policy. So I think the market is still in the wait-and-see phase."
OANDA:XAUUSD
by NicoTradingMaster
Gold is still in a strong uptrendGold costs rose greater than 1.0% on Thursday, way to a pointy drop in US authorities bond yields after records at the US hard work marketplace became released. Specifically, the range of packages for unemployment blessings withinside the 2nd week of November improved better than expected, achieving 231,000, better than the forecast of 220,000. The range of humans receiving unemployment blessings additionally amazed while it improved to 1,865,000 - the very best in almost years, displaying the problem of the United States activity marketplace. Gold costs rose sharply yesterday, overcoming critical resistance lasting from 1,975-1,980 USD. If the upward momentum is maintained, the charge ought to upward push to the $2,010-2,1/2 area, in addition to $2,060 withinside the coming days.
TVC:GOLD
by NicoTradingMaster
Gold price will surpass 2,350 USD/ounce in July.Gold prices rose more than 1.0% on Thursday, thanks to a sharp drop in US government bond yields after data on the US labor market was released. Specifically, the number of applications for unemployment benefits in the second week of November increased higher than expected, reaching 231,000, higher than the forecast of 220,000. The number of people receiving unemployment benefits also surprised when it increased to 1,865,000 - the highest in nearly two years, showing the difficulty of the US job market. Gold prices rose sharply yesterday, overcoming important resistance lasting from 1,975-1,980 USD. If the upward momentum is maintained, the price could rise to the $2,010-2,015 area, further to $2,060 in the coming days.
OANDA:XAUUSDShort
by NicoTradingMaster
Gold is waiting for market fluctuationsGold costs will remain caught until "some thing shakes up the marketplace as a whole." to get better again to 2,340 USD/ounce. This absolutely offset final week`s losses. Investors need to now no longer promote at the moment due to the fact "in case you are preserving gold long-term, there's no purpose to promote due to the fact the charge remains above 2,2 hundred USD/ounce". maximum humans are having impartial predictions gold The US economic system is slowing down, inflation is vulnerable and americaA Federal Reserve (Fed) is much less dovish. These affects lessen call for for gold, that may cause a huge promote-off. If you're preserving gold, there's no purpose to promote due to the fact the charge remains above 2,2 hundred USD/ounce. The marketplace might also additionally have few transactions, because of this that the hazard of big fluctuations. Geopolitical trends consisting of escalation in Ukraine or the Middle East ought to disrupt the marketplace, Grady said.
TVC:GOLD
by NicoTradingMaster
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.
OANDA:XAUUSDLong
by HamedMarkets
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.
OANDA:XAUUSD
by HamedMarkets
3
XAU rises despite weak US economic dataUS economic data on June 27 was not very positive: the number of applications for unemployment benefits reached the highest level since November 2021, the number of durable goods orders showed a bad signal for Q2 GDP, sales Pending home sales hit a record low, and finally, the Kansas Fed's manufacturing activity stagnated for the 21st straight month. Keeping policy rates steady “for a while” may be enough to control inflation, but reiterate “a readiness to increase borrowing costs if necessary”. Analysts say that world gold prices will likely find it difficult to break out in the short term, at least until there is clearer information about the Fed's monetary policy. The weakening USD has pushed gold prices up above 2,300 USD According to some experts, this is a way of pricing based on factors that do not yet exist. If the AI ​​craze continues and the market bubble has not burst, the current price may still be considered cheap compared to future growth potential. However, because this index depends on expectations, the final results are still highly subjective.
TVC:GOLD
by NicoTradingMaster