The market is overbought at around 76.46, we are expecting a Sell off for about 200 points, This will also mark a weekly correction. The fundamentals are currently supporting this move.
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We will be selling the swing at around 2012 with stops at around 2020 for a test of 1994 levels, Stock market is flat, Bond is rising nicely. So we would expect another leg low today.
Reports: US treasury auctions offer $13 billion of 20 year bonds at a high yield of 4.423%
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Technical Analysis...
Today DXY D1 chart stochastic is still falling sharply and the histogram is growing almost at 0, the weekly stochastic is also falling sharply and the histogram is also getting shorter so it is likely that DXY will only return to test the bottom and will continue to decline.
Today we will have very important USD news: ISM Manufacturing PMI, JOLTS Job Openings, ISM Manufacturing Prices and in the early morning of November 2 there will be 3 more news: Federal Funds Rate, FOMC Statement, FOMC Press Conference but This news is likely to have a big impact on gold, so we need to pay attention to orders when the news comes out
According to...
Gold prices extended the previous day's healthy recovery from $1,900 or above three-week lows and gained stronger traction for the second straight day on Friday. Momentum lifted XAU/USD to three-day highs around the $1,915-$1,916 region during the Asian session, although a meaningful upside move still seems unlikely.
The US Dollar (USD) has pulled back from its...
Gold prices ended five straight days of decline, trading higher at around $1,920, up 0.20% in Thursday's Asian session. However, precious metals are facing downward pressure as traders consider the possibility that the US Federal Reserve (Fed) will increase interest rates by 25 basis points (bps) until the end of 2023. .
Hawkish sentiment surrounding the Fed's...
Gold prices tried to make up for the previous day's losses, trading around $1,910 per troy ounce higher in the early trading hours of Wednesday's Asian session. This currency pair is trending up due to the decrease in the value of the US Dollar (USD).
However, gold prices face challenges as the market is cautious ahead of the release of US inflation data,...
On August 14, the world's third largest economy, Japan, announced GDP growth in the second quarter of 2023, with an impressive increase of 6% compared to the same period last year, much higher than the expected level. previously reported is 3.7% and forecast is 3.1%.
Along with positive economic information, the USD continued to strengthen. Specifically, the...
U.S. retail sales data released on Tuesday showed consumer spending remained strong in the country, potentially indicating more inflationary pressures in the coming months.
Investors mostly favor the dollar and Treasuries as a safer haven than gold, as risk appetite worsens amid worsening economic conditions across most globally, especially in China.
The...
The US Dollar experienced significant gains towards the end of last week as the Federal Reserve adjusted its perception of the interest rate trajectory.
The reaction of Treasury yields will play a crucial role in determining the outcome. If they surpass the inflation rates priced in by the market, real yields may increase slightly, potentially leading to a...
On weekly to 10D & 12D charts, it's time to go long on oil. Use your 1h & 2h charts for entries as per your TS. Find chances to go long on pullbacks & other consolidation-b/o patterns . Tgt can take 15-30 days, though one can take multiple trades & book Profits at several intervals. Along with it, we need to keep an eye on copper long trades as well.
The entire day we can observe that the Intrument traded on a Sideways market with some false breakouts during the NEWS.
ATTENTION !!
Be prepare for a sudden Movement , it could be a bear run or a bull run as well.
BTCUSD in the monthly chart showing the double top
and now the question is that. is this is an indication of btcusd to fall down or it will break the pattern and go higher from the past record or is it going to shift more downward which no one expected! it will be a great time if it falls to take a bearish trade! we have to wait for the confirmation to enter in trade !
BINANCE:BTCUSDT
SHORT BTC
Short/Sell BTC
CMP :48832
Target :39515
Stop Loss :53237
Signal: Negative
Sentiment: Negative
Crossover: Negative
Timeframe: 5-7 days
Probability: Medium
Note: Some sideways movement expected before the fall.
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