EURUSD This weekEUR/USD is extending its sideways trading in the European session on Thursday. The pair lingers near three-month lows, as the US Dollar clings to recent gains amid a risk-off market profile. EU/ US data and Fedspeak awaited.
The EUR/GBP cross gains momentum above the mid-0.8500s during the early European session on Thursday. The cross currently trades near 0.8576, unchanged for the day.
The latest data revealed on Thursday that German Industrial Production (IP) for July fell -2.1% YoY from a 1.5% drop (revised from a 1.5% drop) in the previous month. On a monthly basis, the figure dropped 0.8% versus a 1.4% decline in June and below the expectation of a 0.5% drop. However, the Pound Sterling (GBP) is weakened against the Euro as the Bank of England (BoE) Governor Andrew Bailey's dovish remark on Wednesday that the central bank is much closer to ending its hiking cycle.
Techincalanalysis
Still no breakthrough in the new weekGold prices attracted renewed buying pressure on the first day of a new week and continued to rally above $1,945 during the Asian session. .
The mixed monthly jobs report from the United States (US) on Friday ensures that the Federal Reserve (Fed) will keep interest rates unchanged at its September policy meeting, so this is considered is beneficial for Gold prices, but not favorable. In fact, NFP headlines show the US economy added 187,000 jobs in August, well above market expectations. However, last month's figure was revised down from 187K to 157K. In addition, the unemployment rate increased to 3.8% from 3.5% in July and Average Hourly Earnings decreased to 4.3% YoY from 4.4%. The data showed that the labor market slowed slightly and left the Fed with less room to continue raising rates.
Birla Cable Limited - Long Setup, Move is ON...#BIRLACABLE trading above Resistance of 229
Next Resistance is at 355
Support is at 151
Here are previous charts:
Chart is self explanatory. Entry, Resistances and Support are mentioned on the chart.
Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
Forecast for Non-FarmGold prices attracted new sellers after the Asian session jumped to the $1,944 region on Friday and hit a new daily low in the past hour, albeit to no avail. XAU/USD is currently trading just below $1,940, virtually unchanged today, as traders patiently await closely watched monthly jobs details from the United States (US) ahead when betting in new directions.
The widely known Nonfarm Payrolls (NFP) report will be released during the first North American session and will influence expectations about the Federal Reserve's (Fed) next policy move. . This, in turn, will determine the short-term volatility of the US Dollar (USD) and provide a meaningful boost to Gold prices. Meanwhile, uncertainty over the Fed's future path to rate hikes did not aid the USD in capitalizing on the overnight recovery from a two-week low and acted as a drag on commodities. Goods are priced in US dollars.
Gold will regain balanceGold prices traded with a negative bias for the second consecutive day on Tuesday, although lacking continuation and remaining within the familiar range maintained over the past week or so. XAU/USD is currently placed just below $1,940, down less than 0.10% on the day and pressured by a combination of factors.
Despite signs that labor market conditions in the United States (US) are easing, the Federal Reserve (Fed) is expected to keep interest rates higher for longer. Furthermore, markets are still pricing in the possibility of another 25 basis points (bps) hike later this year. This, in turn, remains supportive of rising US Treasury yields, providing some support to the US Dollar (USD) and weakening non-yielding Gold prices.
Nifty 50Nifty 50
6th Sep 2023
Fair Value Gap draw on 5min TF.
Here, FVG used to take entry at top and now riding this downfall identifying another FVGs down once market fall.
Every Time buyers try to catch the trend every time that FVG zone rejected their pressure and consciously fall.
Exit Criteria:
Exit if achieve full Target or If candle close above FVG upper band.
Gold is still compressed waiting for NFGold prices extended their recovery for the third consecutive session and touched $1,950 on Wednesday. This daily increase is due to increased open interest and it suggests that additional profits will emerge in the near future. However, the next important target for the precious metal is the high of USD/troy ounce in July 1987 (July 20).
Our Technical Confluence Indicator is signaling that Gold Price is breaking out of the confluence of the $1935–36 support, indicating the next uptrend to watch. However, the key supports mentioned include Pivot Point S1 for one day and Fibonacci 61.8% for one month.
USD/CAD 4h BUllish Order Block i saw a liq Grab on 4h time frame also with choch with imbalnace candle
with valid order block
entry 1.35043
SL : 1.34847
TP : 1.36153
Note: Do Your own analysis before entering trade im not professional
if you are not sure about this analysis dont trade at all
be Decipline trader
VARUN BEVERAGES Looks BullishVARUN BEVERAGES looks bullish as it is about to break it All time high. Recent wedge breakout signals that it is ready to break its ATH. It can take a small pullback and then can break ATH or else it can also break the ATH directly. Keep Watching it.
Note: Do your own research while investing.
Life Insurance Corp of India (LIC) BreakOut OpportunityDate : 17-Aug-2023
Rating : Buy
LTP : Rs. 659.65
Target: Rs. 678-->706-->724
SL : 645
NSE:LICI has given a break out from its primary down trend as well as from its resistance level of 650 with increased volume. 7/13/26 DEMA is showing bullish trend. MACD cross over is already done and RSI is showing strength to support bull run.
Disclaimer : I am not a SEBI registered analyst/consultant and not recommending anyone to take any BUY or SELL position in stock market. Investing in stock market is risky and one should do a self analysis and validation before investing in stock market.
Elecon Engineering Company - Long Setup, Move is ON...#ELECON trading above Resistance of 767
Next Resistance is at 861
Support is at 608
Here are previous charts:
Chart is self explanatory. Entry, Resistances and Support are mentioned on the chart.
Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
Tonight's ADP PredictionGold (XAU/USD) lacks bullish momentum at three-week highs, hovering in the $1,937-38 range by year-end, as traders look for more clues to confirm the dovish trend of gold. The United States Federal Reserve (Fed) globally. Upbeat US data earlier in the day. Also challenging XAU/USD gains are mixed concerns about US-China relations and sluggish US Treasury yields.
The cautious mood ahead of US ADP Employment Change, Second-quarter Gross Domestic Product (Q2) and US Personal Consumption Spending (PCE) appear to have boosted the outlook, boosting the outlook. Gold buyers to many highs. Disappointing US jobs, employment and housing previously raised concerns about the Fed's policy axis, especially after Fed President Jerome de Jerome de pressured the turmoil of the Fed. mambela data
Waiting for new developmentsGold (XAU/USD) prices defended the previous weekly recovery, for the first time in five weeks, as it rallied for the second day in a row amid broad-based US Dollar weakness. Also, the strength for the XAU/USD rally is cautious optimism in the market, as well as falling Treasury yields.
It is worth noting that the US Dollar Index (DXY) encourages reliance on Fed policymakers' data and the recent mixed US data, as well as the continued decline in interest rates. US Treasury yields from multi-year highs marked last week.
Gold is still around 1920Gold prices traded near $1,915 per troy ounce during the Asian session on Monday, extending last week's gains. The recent drop in the US Treasury bond yields (US) helped push the yellow metal to recover. Additionally, moderate US economic data released last week along with mixed statements from major central bank officials at the Jackson Hole Symposium, underpinned Gold prices.
With that said, U.S. Durable Goods Orders in July fell 5.2% from the market consensus of 4%, ranging from 4.4% in June. However, Initial Jobless Claims showed favorable employment conditions, raising concerns about the US inflation scenario. For the week ending Aug. 18, the index fell to 230K from 240K previously, which is expected to remain steady.