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USD is dominating the marketGold fees are forecast to range strongly withinside the last days of the week. In the fast term, the treasured steel`s help stage is 2,three hundred USD/ounce and the resistance stage is 2,340 USD/ounce. This treasured steel is attracting cash managers and hedge funds. Look at this need Fed Governor Michelle Bowman on Tuesday reiterated her view that maintaining coverage quotes steady “for a while” will probably be sufficient to manipulate inflation, however additionally reiterated that she is open to growing spending Loan charges if necessary. The marketplace has tilted toward the dollar after the discharge of financial facts highlighting the resilience of americaA economy, growing an possibility for the Fed to preserve excessive hobby quotes for longer.
TVC:GOLD
by NicoTradingMaster
XAU weakens as USD risesGold prices continue to be influenced mainly by US interest rate expectations. And the stability in recent sessions reflects the lack of strong signals on the Fed's monetary policy. World gold prices plummeted as the USD continued to demonstrate its strength compared to most other currencies in the world Gold price dropped sharply mainly due to the increase in USD price. DXY index The Fed still follows the trend of delaying interest rate cuts to wait for US macro signals, especially inflation data. Investors are waiting for information about the personal consumption expenditure price index (PCE), expected to be announced this Friday. This is an important measure of the health of the US economy, Gold futures prices recorded modest gains at the beginning of the week, mainly due to the weakening of the USD. The USD index dropped quite sharply, contributing significantly to the rise of gold. Investors are preparing for a busy final week of the month with several important economic reports due for release.
OANDA:XAUUSDShort
by NicoTradingMaster
2
Impending “Death Cross” keeps Gold sellers hopefulThe US Federal Reserve’s (Fed) hawkish halt failed to impress the US Dollar buyers as softer inflation data raised doubts about the central bank’s one rate cut in 2024 projections. The same allowed the Gold price to refresh weekly high during its three-day uptrend by the end of Wednesday. However, failure to cross the key SMAs and a looming “Death Cross” of the 100-SMA and the 200-SMA joins the unimpressive RSI (14) and an impending bear cross on the MACD to challenge the precious metal buyers afterward. That said, the quote currently drops toward a 10-week-old rising support line, close to $2,288, a break of that will highlight the previous monthly low of $2,277 and the early April swing lows surrounding $2,266 as the seller’s favorite. It’s worth noting, however, that the XAUUSD’s sustained weakness past $2,266 will make it vulnerable to a slump toward the March 21 peak of $2,222. Alternatively, Gold buyers need a clear upside break of the 100-SMA and 200-SMA convergence, close to $2,343-44 by the press time, to retake control. Even so, a three-week-old descending resistance line will test the XAUUSD bulls around $2,371. In a case where the precious metal remains firmer past $2,371, the monthly high of near $2,387 and the $2,400 threshold could challenge the upside momentum targeting a two-month-old horizontal resistance area surrounding $2,433-34. Overall, Gold teases sellers after the top-tier catalysts but a clear break of $2,288 becomes necessary to expect the metal’s further downside.
OANDA:XAUUSD
by MTradingGlobal
AUD/USD: A Third Wave "...Wonders to Behold..."Prices advanced in five waves from 0.6477 to 0.6667. This wave pattern is significant because impulse waves identify the direction of the larger trend. Thus, the five-wave advance in AUDUSD implies further buying to come that would push prices above 0.6667 as wave (iii). The subsequent decline that is developing in three waves supports this analysis. Counter trend price action typically consists of three waves, so we expect another move up. Moreover, the three-wave decline travels to 0.6550 to retrace 61.8% of the previous impulsive advance. 61.8% is a common retracement for corrective waves especially when they occur as wave 2 of an impulse or wave B of a zigzag correction. Also nearby is 0.6558, the price level at which wave c equaled wave a, which is a common Fibonacci relationship between wave C and A of zigzag correction. Also adjacent is 0.6560, the end of the fourth wave of one lesser degree. As a guideline, corrections tend to end upon reaching the end of the previous fourth wave of one lesser degree. Besides, the correction is unfolding as a Zigzag A-B-C with a triangle characteristic in the b wave position as is common. Also, the correction neatly adheres to the parallel channel with wave c hugging the lower boundary of the channel. These cluster of evidence suggests that prices are approaching an important juncture and a reversal to the upside is on the horizon. If so, then a break above 0.6629 would virtually indicate the correction ended and the next significant move is to the upside. Trading Plan Entry : Buy at market. Protective Stop : 0.6477; in an impulse wave 2 can NEVER retrace 100% of wave 1. Target : 307 pips i.e ((0.6667-0.6477) X 1.618) In an impulse, the third wave commonly travels 1.618 times the length of the first. Risk-to-Reward : 1:3
Editors' picks
Long
by Aquanet_Market_Forecast
2
EURUSD edges higher within bear flag, central bankers eyedEURUSD consolidates the previous losses within a six-week-old rising channel, forming part of a multi-day-long bearish flag chart formation, currently between 1.0760 and 1.0590. It’s worth noting that the firmer RSI (14) line, not overbought, joins the bullish MACD signals to favor the Euro pair’s further recovery towards the 1.0760. However, a convergence of the 100-SMA and the 200-SMA, around 1.0800, appears a tough nut to crack for the bulls afterward. In a case where the quote remains firmer past 1.0800, the bearish bets will be off the table and will enable the buyers to challenge the late August swing high of around 1.0950. Meanwhile, the 50-SMA level of around 1.0620 acts as an immediate downside support to watch during the EURUSD pair’s fresh downside. Following that, the stated bearish flag’s bottom line of near 1.0590 will be crucial as a break of which will theoretically confirm the pair’s gradual fall toward the sub-1.000 region. However, the yearly low marked in October around 1.0445 and the August 2022 peak of around 1.0380 could test the Euro bears on their way. Overall, the EURUSD is likely to remain in the recovery mode but the upside room appears limited. That said, today’s speech from the European Central Bank (ECB) President Christine Lagarde and Fed Chair Jerome Powell will be crucial to watch for clear directions.
by MTradingGlobal
XAUUSD_ Analysis August 28, GOLD has vitality again⚡️In a speech at the central bank conference in Jackson Hole, Wyoming, Fed Chairman Jerome Powell said inflation remains too high even with recent favorable figures and that the US central bank has room to substantial basis to regain price stability. But at the same time, Powell noted that economic uncertainty calls for "aggressive" monetary policymaking and that the Fed will proceed "with caution" when deciding on its next policy move. ⚡️Powell's message on Friday was in line with mixed signals from other Fed officials in the run-up to the meeting. Philadelphia Fed President Patrick Harker told CNBC he doubted the central bank would need to raise rates again, but also said he wasn't ready to predict when rate cuts might begin. Boston Fed President Susan Collins said on Yahoo Finance's video channel that interest rates could be near or at their peak, "but could certainly increase further." ⚡️Plan: BUY XAUUSD price 1907-1909. SL 1903. TP 1915, 1920
OANDA:XAUUSDLong
by Mars_Hunter
4
What to do after sudden gold rise?🌸Hello everyone, it's a pleasure to share and explore the market with you today. Currently, the gold market (August 24) has increased significantly compared to the previous session. Gold has now far outstripped a dangerous $1,900 price point after economic data from Europe showed a less positive purchasing managers index (PMI), prompting investors to ramp up their purchases of gold to hedge risks. . 🌸Specifically, PMI in this region in August was 43.7 points, higher than 42.7 points in July and higher than the forecast level of 42.6 points. However, this is still far short of the 50-point expansion threshold for manufacturing. 🌸The best trend today you can wait for gold to test about one business and then buy. 🌸You can set up buy order at 1910-1908 SL 1903 TP 1920.1925
OANDA:XAUUSDLong
by Mars_Hunter
1
GOLD - Quickly catch the rebound of goldThis morning's gold price continued to increase by 16.7 USD compared to yesterday's closing level to 1,936.5 USD/ounce, the gold price reached its highest level in three weeks. The US Employment Turnover (JOLTS) report and consumer confidence index were much lower than expected, spurring fresh buying demand for the precious metal. Gold prices continue to maintain a solid recovery but there is still a potential risk that it will be lower in the near future because this week there is still a lot of economic news that strongly affects Gold prices.
TVC:GOLDLong
by Mars_Hunter
2
Slight retracement before the uptrend ⚡️⚡️Gold continued to trade at a 5-month low after the minutes of the July monetary policy meeting of the US Federal Reserve (Fed) were released. The minutes showed that the majority of the bank's officials continued to prioritize fighting inflation, while only a few pointed to the risks to the economy by pushing interest rates too far. ⚡️Yields on 10-year US government bonds hit a 10-month high shortly after the release of Fed minutes, pushing the dollar to its highest level since mid-June, easing attractiveness, driving investors away from non-yielding assets like gold. ⚡️Experts said that the loosening monetary policy of the central bank will help the economy recover better, when consumers can easily access loans for shopping. Financial investors will gradually shift capital from capital-preserving assets such as gold to investing in production and business industries or other profitable assets. This has caused gold to lose its position in the market. ⚡️The gold market is oscillating around the critical level - $1,900, a level where neither the bulls nor the bears have been able to establish a clear direction. ⚡️You can set SELL around 1903-1905, SL 1910, TP 1895, 1890. Wish you successful trading.
TVC:GOLDShort
by Mars_Hunter
1
XAUUSD-Gold price after Powell SpeaksGold price (XAU/USD) faces an intense sell-off as Federal Reserve (Fed) Chair Jerome Powell remains hawkish at the Jackson Hole Symposium. The precious metal dropped significantly as Jerome Powell kept doors open for further policy tightening. About the labor market, Fed Powell conveys that the labor market is extremely tight and warrants more rates from the central bank. Fed policymakers: Boston Fed Bank President Susan Collin and Philadelphia Fed Bank President Patrick Harker commented on Thursday that the current interest rate level is enough to do the required job. The US economy is still resilient due to a tight labor market and easing inflation, but further policy-tightening by the Fed could dampen market sentiment. With my prediction gold will fall sharply after Monday evening meeting Fed Chair Powell Speaks and Jackson Hole Symposium
OANDA:XAUUSDShort
by Mars_Hunter
GOLD - Accumulate around 1910 USDWith news Core retail sales better than expected.The USD immediately benefited and pushed gold down However, when GOLD touched the H4 trend, it bounced back, causing gold to continue to enter the trajectory of the parallel trend.Gold has now bounced and created a short-term buying trend The US Dollar Index (DXY), which measures the strength of the US Dollar (USD) against a basket of six major currencies, continues its fifth consecutive day of gains. Trading plan: BUY XAUUSD soup around the price: 1896 - 1894 Stoploss : 1890 Take Profit : 1905 Take Profit : 1910 Take Profit : 1920
TVC:GOLDLong
by Mars_Hunter
1
Respect the SL? Check why it is important to respect the SL?Why We need to respect Stoploss? #tradingclasses #tradigstrategy #tradingideas #tradingcourses. With Technical analysis , we can predict the next movement of the market 80-90% most of the time, and 10-20% of the time market reverses. we need to respect that 10-20% failure to sustain in the stock market career. Market is always superior. . If we dont respect the SL, this will lead to washout of our capital and more than that it will affect our psycology and trading journey. with this information, Hope u traders take trade with predefined SL to find success in trading journey. cheer us with thumsup; thank u n Happy Trading
TVC:USOIL
by TanujaK