Gold price today still increased above 2300 USDGold prices have surged on weaker-than-expected US retail sales and expectations of lower interest rates. Here are the key factors:
Weak retail sales:
US retail sales report was lower than expected, suggesting a decline in consumer spending.
This raises concerns about economic growth, which could lead to economic stimulus or looser monetary policy from the Federal Reserve (Fed).
As a result, gold becomes more attractive as a safe haven asset.
Expect lower interest rates:
With retail sales weak, the Fed could keep interest rates low or even cut them to support the economy.
Lower interest rates reduce the opportunity cost of holding gold, which provides no interest or dividends.
A weaker US dollar due to lower interest rates also increases the value of dollar-denominated gold in international markets.
Signals
EURUSD Short Selling strategy?Hello everyone! What is your opinion?
In today's analysis, I will focus on the bearish price movement of this currency pair. Currently, EURUSD is trading around 1.073, continuing the downward correction wave, with support
From a technical standpoint, factors such as trend lines, support and resistance levels, and EMAs 34 and 89 all favor sellers. This fits well with the Elliott Wave structure. It looks like EURUSD is ending Wave 1 and I predict that the next waves will play out as analyzed, potentially breaking below the 1.061 support level.
What do you think about EURUSD? Please leave a comment below so we can discuss! Good luck with your trading!
EURUSD: Sellers are in profit!EUR/USD remains in a daily range above 1.0700 during the European session on Tuesday after closing in positive territory on Monday. Mixed ZEW sentiment data from Germany and the Eurozone makes it difficult for the Euro to find demand as the focus shifts to US data.
Looking from the technical picture, the downward momentum is kept intact with the trend still favoring sellers and the EMA 34, 89 remaining stable.
Wishing you happy trading!
GBPUSD: Maintain price on TrendlineHello everyone!
Looking at the chart, GBPUSD is currently moving along the trendline. Despite yesterday’s significant drop, the outlook still favors the bulls as long as the trendline remains intact.
However, keep an eye on the trendline's limits. If the price breaks through, it could provide a good entry point for trades.
Happy trading, everyone!
What's changed in the gold price in the new week?Hello, let's analyze today's gold price!
In the chart, although gold on Friday had a strong recovery of nearly 300 pips, in the long term it is still in a downtrend with the price channel remaining stable.
Regarding the target and upcoming direction: From technical analysis, I expect the price to decrease more after the adjustment reaches the upper limit of the price channel.
The target is 2280 USD.
And you, what are your thoughts, do you think gold will increase or decrease this week?
Update the latest gold price today!Today, gold has decreased slightly by 10 USD, currently trading around 2315 USD. This comes as the US Dollar tumbled following the release of much-anticipated economic data. Gold's short-term downtrend continues.
Technical analysis:
Trendline Break: From a technical standpoint, gold has broken above its trendline, signaling continued bearish momentum.
EMA Confirmation: The bearish outlook is further supported by gold trading below the 34 EMA and 89 EMA.
Price Target: The next important level to watch is $2300, which remains the desired target in this downtrend.
What do you think about gold's movement? Are you expecting the next decline or do you see a potential turnaround? Let's discuss!
Gold price today: Continuous increase of nearly 300 pipsHello everyone, yesterday gold experienced a quite significant recovery. At the beginning of the session, gold traded stably, but near the end of the session, this metal quickly increased and recovered more than 280 pips. Currently, gold temporarily closed at 2332 USD and increased about 1.24% during the day.
Accordingly, gold prices increased despite the USD index anchoring at a high threshold. Although under some pressure, the fact that gold is still above 2,300 USD/ounce proves that buyers still actively consider the adjustment and price decrease as Good opportunity to increase gold holdings.
Gold price today: Recover more than 100 pipsHello everyone! What do you think, where will gold close today?
In this analysis, I'll be focusing on gold's recent recovery. The precious metal recently broke out of its short-term upward trend after surpassing the trendline. Despite this, it has found new momentum and is currently hovering around the psychological level of $2300.
Looking at the 1-hour chart, I’ve observed that gold has rebounded over 140 pips. It seems to be targeting the $2323 level, with the next resistance around $2338.
That's my take. What about you? Do you think gold can reach these targets, or will it pull back again? Let me know your thoughts in the comments!
Gold Price reduced at the end of the trading session!Hello everyone, today the price of gold continues to trade around the psychological level of 2300 USD.
Accordingly, gold was not beyond my prediction when it approached 2300 USD to receive new resources around this support area. After the Fed's above announcement, gold lost its inherent momentum, causing the number of investors buying to decrease significantly.
Not only that, the gold market also witnessed strong selling momentum after the US Bureau of Labor Statistics announced that the consumer price index (CPI) in May remained high, the main reason why the Fed extended the Delay interest rate cuts.
Gold price forecast:
-In terms of market psychology as well as news: negative reaction to monetary policy and pressure from the rising USD, weaker buying demand from China makes it difficult for gold to increase in price during this time.
- Technically: Gold is in a downtrend, the price moves below the resistance level and the Trendline line decreases. The price is affected by the EMA 34, 89 which is still beneficial for selling momentum. The reduction target to the support level of 2288 USD is again targeted in the short term.
EURUSD: Prioritize the downtrend!Hello fellow EURUSD trading lovers!
Today, we see EURUSD continuing its downtrend, with the price currently hovering around 1,080.
-Market summary:
Yesterday's developments: After this news, EURUSD quickly skyrocketed and filled the gap but could not maintain a long-term increase.
Technical outlook:
Price Pattern: The pair is trading in a narrowing wedge pattern, characterized by lower highs and lower lows.
Short-term forecast: With these technical signals, EURUSD will likely continue to decline in the near future.
I'm more inclined towards sales. What is your view? Do you see more opportunities on the downside or do you have a different view? Share your thoughts!
Today's Gold Price Update: A Continued DowntrendGold prices today continue to face downward pressure, currently trading around $2314, losing 0.45% for the day with a drop of over 100 pips during the early Asian trading session.
Despite a strong rally last night that pushed gold close to $2350, the precious metal couldn't maintain its recovery. This was despite the U.S. Dollar weakening after the U.S. released its economic data.
The USD took a hit after the U.S. Consumer Price Index (CPI) for May showed a faster cooling than economists had anticipated. The CPI remained flat after a 0.3% increase in April, while the forecast was only for a 0.1% rise.
Gold Price Forecast:
News Perspective: The Federal Reserve is expected to implement two rate cuts this year, with an 80% chance that the first cut will happen in September. This scenario typically leads to a weaker USD, which could benefit gold prices.
Psychological and Technical Perspective: From a technical standpoint, gold remains in a downward channel. In the short to medium term, the market sentiment still favors selling gold. The EMA and trendline indicators continue to support the bearish outlook for gold.
Key Points:
Current Price: $2314, down 0.45% for the day.
Support and Resistance: Unable to sustain gains around $2350.
Economic Data Impact: USD weakened after lower-than-expected CPI data.
Fed Rate Cuts: Expected to cut rates twice this year, with the first likely in September.
Technical Indicators: EMA and trendline favor continued bearish movement.
Stay tuned and watch for how these factors play out in the coming days. What’s your take on the current gold trend?
EURUSD trading strategy! The selling trend is still strong!Hey everyone,
What are your thoughts on EURUSD today?
Looking at the 4-hour chart, EURUSD is currently in a recovery phase. The pair is filling the GAP and completing a retracement to the 0.5 - 0.618 Fibonacci levels. As of now, the price is sitting at 1.0759, reflecting a 0.05% increase for the day.
It's expected that after completing this retracement, the price might resume its downward trend, just as illustrated on the chart!
What’s your take on this? Let’s discuss your insights in the comments below!
Should we buy or sell EUR/USD today?Dear friends!
Currently, EUR/USD is flat, staying just below the 1.0750 level during Wednesday's Asian session. With upcoming US CPI data and Federal Reserve policy announcements, it is best to avoid placing new bets on this currency pair until we see how these events play out. They are likely to significantly influence the performance of the US Dollar.
If the downtrend continues, EUR/USD could first target the June low of 1.0719 and could then fall deeper to 1.0649.
XAUUSD: Waiting for a new selling opportunity from FOMCHi everybody,
In today's trading session, gold prices increased slightly. However, the looming threat of a "hot" inflation report from the Federal Reserve's FOMC meeting starting this morning (June 12) could push gold prices down.
While demand from bargain hunters has boosted gold prices, gains have been limited by a strong US dollar.
Recent positive economic news from the US suggests the Fed may continue its current monetary policy for longer. Additionally, with several major central banks having already cut interest rates and possibly further cuts in the coming months, the dollar remains high and could rise further, putting pressure on gold.
Stay tuned to see how the market behaves in the coming days!
Gold→ Cause of decline. Can gold fall even lower? 2265Traders! Gold is making new lows and there are a number of reasons for that. Price after Friday's sell-off is returning to the downtrend boundary, which determines our medium-term outlook.
So why is gold falling? The market is negatively affected by the strengthening of the dollar, due to positive Nonfarm Payrolls for the US market, which usually shapes the medium-term mood for the market. Traders also turned bearish on news regarding China's Central Bank suspending global gold purchases.
Technically, it is very likely that the downtrend on H1 will continue.
Resistance levels: 2300,2315
Support levels: 2291, 2267
I expect local strengthening ahead of the next decline. Traders may attempt to buy back some of the decline (collect liquidity) before further testing support with a view to a breakout.
Gold price today: Costed the price of 2300 USDThe current situation:
On June 11, 2024, gold price is trading around the psychological level of 2300 USD/ounce, increasing significantly compared to the previous closing. This increase takes place in the context of weakds of the dollar and the yield of bonds decreases slightly.
Impact factors:
-Global monetary and economic policy:
Investors are expecting monetary policy decisions from the US Federal Reserve (Fed) this week. It is forecast that the Fed can keep or cut interest rates that weaken the dollar, creating favorable conditions for the increase in gold prices
-Safety and investment bridge:
Gold benefits from the role of safe shelter in the context of economic and financial instability. With concerns about global economic growth and fluctuations in the stock market, investors are looking for gold as a safe investment option.
Forecast in the short term, gold prices are likely to maintain an increase trend if the support factors such as the dollar weakened and the bond yields decreased.
From the technical analysis:
Currently, the latest support threshold of gold is about 2310 - 2315 USD/ounce. Strong resistance threshold is determined at 2,385 USD/ounce. The breaking of this resistance threshold can bring gold to higher levels in the coming time
Update gold prices every day of the weekFundamentally, gold is under dual pressure from both the US and China, which are noted as two very important fundamental impacts on gold prices.
On the one hand, gold prices are under pressure because US macro data boosts market sentiment in favor of the possibility that the Fed will have to keep interest rates high for a longer period of time, which is beneficial for the USD and metals. unattractive quarter.
On the other hand, China stopped buying gold after 18 consecutive months of buying, also making the market worried about profit-taking time. It is also possible that this will help the gold price adjust down so that the Central Bank of China can continue to buy at a better price, because they just stopped and did not sell. However, we (short-term traders) will be affected by this because it creates surprises in the market.
There is nothing new in the geopolitical situation, so for the time being, we basically need to pay attention to US data and China's gold buying activities to quickly orient to changes without facing many uncertainties. doubt.
Plan to trade on June 10
👨💻 XAUUSD SELL zone 2335 - 2337
🔹SL 2340
🔹TP 2330 - 2320 - 2310
In addition, Buy Scalping bets will be updated continuously, so please follow the group to earn the best profits ❤️❤️
Wishing you Full City
Etherem ready for Big Pump ?#Ethereum Chart Analysis
#ETHUSDT is currently trading within a bull flag/parallel channel. We're waiting for a breakout before entering any trades.
- Bearish Scenario:
If CRYPTOCAP:ETH breaks down below the support level at $3650, we might see a decline toward $3152, which is the last Fair Value Gap (FVG).
- Bullish Scenario:
If #ETH holds the $3152 level, we could see an upside move toward $4000.
A break above $4000 resistance could trigger a strong bullish move toward the $6000-$7000 range.
Let's watch closely and stay updated on the price action.
#Ethereum Breakout: Will ETH ETF Decision Propel Prices to $6000#Ethereum Eyes Breakout: Will ETH ETF Decision Propel Prices to $6000?
CRYPTOCAP:ETH is showing bullish signs with a falling wedge/bull flag pattern and a strong bounce off support.
ETH ETF decision on Thursday. Deadlines for 4 ETF issuers are at the end of this month, starting May 23rd.
Potential Targets:
- Approval: #ETH could soar to $5000-$6000.
- Rejection: ETHUSDT might drop to $2500-$2000.
Conversely, a rejection, especially if based on the classification of tokens as securities, could lead to a downturn in ETH and #DeFi assets.
Strategy: Consider a spot long position, but avoid excessive leverage due to potential volatility.
Stay informed and trade smart.
$WIF Elliott Wave Analysis ( Target $20 As Per EW )CRYPTOCAP:WIF Elliott Wave Analysis
- The current EW 5-wave cycle appears complete, entering A-B-C correction.
- Post C-phase correction, anticipate a significant upward rally towards $16-$20 (1200% potential).
- Correction Target: Expecting a dip to 0.382 Fibonacci level ($1.60-$1.30).
- Worst Case: Exit strategy if price breaks below the bull flag's red line.
Stay tuned for updates.
$ETH Bull Flag Waiting for Breakout CRYPTOCAP:ETH Bull Flag Waiting for Breakout
ETH ETF approval date is around the corner. Major resistance at $3100 level. If it breaks $3200 resistance, we could see #ETH toward a new all-time high at $5000
However, below $3200, we might see $2400
Monitor the bull flag pattern closely.
#Ethereum
XAU increased while US inflation cooledYesterday, lower-than-expected monthly CPI and Retail Sales data in the US supported the possibility of multiple interest rate cuts by the Fed in 2024. US CPI decelerated to 0.3% in April, lower than the expected level of 0.4%. While Retail Sales were flat, missing the expected increase of 0.4%.
The DXY index fluctuates around 104.20. The decline in US government bond yields is weakening the USD. US government bond yields for 2-year and 10-year terms were at 4.71% and 4.32 respectively after the data was published.
Cooling inflation will help the Fed soon make a decision to lower interest rates, to support the US economy, which is showing more signs of slowing down. Cooling inflation will also soothe the psychology of US investors and consumers.
Gold prices increased because tensions in Ukraine and the Middle East still show no signs of cooling down. Russia is attacking on many fronts in Ukraine and fierce fighting is occurring. Meanwhile, in the Middle East, Iran recently said it would create a nuclear bomb if threatened by Israel.