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Xauusd(w)

XAUUSDThe gold price today seems to have remained unchanged from earlier this morning, mainly ranging between 2021 - 2022 USD. Although the US GDP growth has exceeded expectations and core orders have increased, negative factors such as rising unemployment claims and inventory levels, along with reduced personal consumption, will pose challenges to the US economy. As a result, some investors have returned to buying gold. However, there are still many investors who remain on the sidelines, observing the market. Inflation in Europe has decreased to 2.9%, prompting the European Central Bank to maintain interest rates. The European Central Bank predicts that inflation in the region will gradually decrease to around 2.7% in 2024. Considering the above information, it will be difficult for the gold price to rise significantly given the positive economic growth in the US. This indicates that the world's largest economy will not experience a recession and will achieve the desired soft landing as expected by its central bank.
OANDA:XAUUSD
by RKarina
Gold price today, increase or decrease further?Gold prices today surged from $2013 to $2020 per ounce at 6 am on January 26th. The reason behind this is the improved economy of the United States and the cooling inflation in the country. Specifically, in 2023, the US GDP is projected to grow by 2.5%, a significant improvement compared to the 1.9% growth in 2022. On the other hand, after excluding food and energy prices, the US core personal consumption expenditure (PCE) index retreated to 2%. This data indicates a decreasing inflation rate in the US, which could prompt the Federal Reserve (FED) to lower interest rates in the coming months. In such a scenario, the value of the USD would depreciate, benefiting the global gold prices.
OANDA:XAUUSDShort
by RKarina
Gold bounces off key support line ahead of Fed InflationGold price stays defensive near $2,022 as bulls await the key US data to extend the previous day’s rebound from a six-week-old rising support line. That said, the US Core PCE Price Index, also known as the Fed’s preferred inflation gauge, gains additional importance this time amid reducing market bets on the US central bank’s delayed rate cuts. Should the inflation figures fail to justify the recent hawkish Fed bias, the US Dollar will reverse the gains while allowing the XAUUSD to extend Thursday’s recovery toward the $2,035-36 resistance confluence comprising the 21-SMA and a one-month-old bearish channel’s top line. Following that, $2,063 and $2,090 are likely strong challenges for the metal buyers before targeting the previous yearly top marked in December at around $2,148. On the flip side, the aforementioned support line stretched from early December, close to $2,010 by the press time, restricts the short-term downside of the Gold Price. In a case where the quote drops below $2,010, the previously stated bearish channel’s bottom line surrounding $1,988 will be crucial to watch. In a case where the XAUUSD remains bearish past $1,988, a convergence of the 100-SMA and 50% Fibonacci ratio of the metal’s October-December upside, near $1,975, closely followed by the previous monthly low of near $1,973, will be the final defenses of the buyers before giving control to the bullion bears. Overall, the steady RSI and the metal’s recovery despite the US Dollar lure buyers ahead of important US inflation data for December.
OANDA:XAUUSD
by MTradingGlobal
USDJPY: Transactions are filled with greenDear friends, currently USDJPY is maintaining a strong upward trend, reaching 147.89 in early week trading. In the short term, technical indicators continue to support the upward trajectory of USDJPY. This currency pair is attempting to recover after finding significant support around 148.00. The upward momentum may be further bolstered by the US Dollar Index (DXY) gaining traction from expectations that the Federal Reserve may cut interest rates in March.
Long
by RKarina
Gold prices continue to plummet!Hello dear friends! Gold prices experienced significant fluctuations yesterday, with the precious metal continuing to decline and reaching $2011. However, there has been a slight recovery, and it is currently adjusting back to $2015 during the early trading hours on Thursday. Accordingly, the optimistic PMI index from the United States has helped the yield on 10-year US Treasury bonds recover from its daily decrease, putting pressure on XAU/USD. From the observed chart: Gold is still trapped in a parallel downward channel and has broken the short-term uptrend trendline, as well as surpassed the support level near $2020. Prices may continue to decrease after the end of the short-term trend correction. The next target for sellers is the $2005 mark. If gold surpasses this level, it will continue to seek new momentum around $1982 and the lower limit of the downward price channel. What do you think? Do you believe gold will continue to decline further?
OANDA:XAUUSDShort
by RKarina
XAUUSDThe price of gold today continues to trade quietly with little volatility, mainly moving sideways around the $2025 level and being confined within a narrow price range. As a result, this precious metal is facing pressure as investors continue to lower their expectations of the Fed's first interest rate cut in March 2024. This factor has driven up US bond yields and the value of the USD, exerting downward pressure on the price of gold. The current focus of the market is awaiting the release of the US Gross Domestic Product (GDP) data for the fourth quarter of 2023 on January 25th, followed by the Personal Consumption Expenditures (PCE) index on January 26th. These two pieces of information are expected to help shape the Federal Reserve's monetary policy more clearly in the near future, which will have a definite impact on the trend of the global gold price.
OANDA:XAUUSDShort
by RKarina
XAUUSDIn the European trading session on Wednesday, the price of gold (XAU/USD) continued its downward trend, despite a lack of strong selling pressure. The trading range has been maintained for several days, with traders exercising caution and waiting for further signals from the Federal Reserve regarding interest rate cuts. The market's focus is currently on key economic data from the United States this week, starting with the flash PMI index today, followed by Q4 GDP figures and Core PCE Price Index on Thursday and Friday. Given the risks associated with this important data, expectations for the first interest rate cut by the Fed have now been pushed back from March to May, negatively impacting the price of gold. This is reflected in the slight decline in US Treasury bond yields, strengthening the US Dollar (USD) and limiting the recovery potential of XAUUSD. It is expected that the long-term downward trend in gold prices will continue in the near future.
OANDA:XAUUSDShort
by RKarina
XAUUSD: Up or down?Hello everyone!! The price of gold today is mainly flat with not much fluctuation around the $2021 mark. With a visible resistance level at $2035 and positioned below the EMA 34 and 89 lines, the downward trend is still continuing despite signs of cooling down. Regarding news that affects the price of gold, investors are anticipating important economic reports from the US this week, including the PMI report, Q4 GDP data, and personal spending. This information will provide new indications about the Fed's interest rate policy. According to the CME FedWatch Tool, the likelihood of a Fed rate cut in March has decreased from over 70% to 43.5%, weakening the potential for a sharp increase in gold prices. RKarina predicts that the price of gold may continue to decline but still remain within the defensive range from $2005 to $2008. Gold still has a chance to reverse its direction if it holds above this support level. What are your expectations for the price of gold in the near
OANDA:XAUUSD
by RKarina
XAUUSD: Buy or Sell?Dear friends, currently the price of gold has dropped by about 6 USD after reaching a high of 2031 USD, following a clear downward trend on the chart. This is due to the strengthening of the US dollar, as the Federal Reserve is unlikely to cut interest rates in March. As a result, investing in gold becomes more expensive due to higher interest rates. In addition, the core personal consumption expenditure index of the US, an important measure of inflation, also affects the Federal Reserve's decision on monetary policy easing. However, macroeconomic data from the US may not have a significant impact if the price of gold remains below 2,000 USD/ounce. James Stanley, a senior strategist at Forex, predicts that the price of gold will stabilize around the 2,000 USD/ounce mark. He emphasizes that any price below this level would be a buying opportunity for investors.
OANDA:XAUUSDShort
by RKarina
How does gold price change?It is great to meet you all again to discuss today's gold trading strategy! At the beginning of the new week's trading session, gold prices have slightly increased. At the time of writing, the price is trading around $2029, marking a growth of $4 compared to the previous closing. Looking at the prospects for this week, all eyes are focused on the fluctuations of the USD in the context of monetary policy decisions by major central banks. In particular, the European Central Bank (ECB) will be closely monitored. Their recent stance at the World Economic Forum in Davos could significantly impact the USD and potentially support the price of gold. What do you think? How will gold perform this week?
OANDA:XAUUSDLong
by RKarina
How does gold price change?Hello dear friends! The price of gold in the global market has increased at the start of trading in the US due to safe-haven demand amid escalating tensions in the Middle East. The weakening US dollar is a supporting factor for the rise in gold prices. The long-term outlook for gold is positive. However, the upward momentum may be delayed as the market is trying to assess the possibility of a US interest rate cut. Lower interest rates reduce the opportunity cost of holding precious metals. Currently, according to the CME FedWatch tool, traders expect a 47% chance of a Fed rate cut in March. This percentage has decreased from 71% last week, which is significant in the short term. In the future, the upward price momentum may decrease significantly.
OANDA:XAUUSDShort
by RKarina
Xauusd: trade in the direction of the trendHello dear friends! On the last day of this week's trading session, gold experienced a gentle recovery with prices fluctuating around $2030, marking a 0.33% increase for the day. However, it also faced immediate resistance at this level, along with the activity zone of the 34th and 89th EMA. The price may retreat to $2010 if there is end-of-day news supporting the USD. Conversely, if the price successfully surpasses that resistance level, it will open up strong buying opportunities with a target of $2055.
OANDA:XAUUSDShort
by RKarina
Gold breakout discount strategyDear friends! Currently, gold is trading with a stable recovery above the support level of $2030. At the time of writing, the price is trading at $2047, indicating a significant increase in price at the current time. On the analysis chart: Gold has broken the support level of $2059 and started a downward trend. Therefore, the stronger US dollar and higher US bond yields are putting pressure on the yellow metal. Regarding the outlook: Gold is currently experiencing a slight recovery towards the previously broken resistance area. However, with the market still in a downward price control, any breakout action could quickly push gold down to the defensive level of $2020
OANDA:XAUUSDShort
by RKarina
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How does gold change momentum?Hello dear traders! On Wednesday, Gold experienced a sharp decline, reaching the psychological support level of $2000. However, it quickly corrected and has been lingering around $2022, close to the Fibonacci retracement levels of 0.5-0.618. This indicates that the prospects for this precious metal remain high. However, if it manages to surpass this retracement level and break through the temporary resistance at $2033, it could open up more opportunities for gold to recover even stronger, fueled by the tensions. Escalating political conflicts will pose high risks globally. Economies will continue to face inflationary pressures due to supply shortages. This will hinder global economic recovery, leading to an increased demand for gold as a safe haven and a hedge against risks. The forecast suggests a significant rise in gold prices as tensions persist.
OANDA:XAUUSD
by RKarina
Gold price recovery lacks momentum within bearish channelGold price lacks clear directions after bouncing off the lowest level in five weeks, as well as snapped a two-day losing streak, the previous day. That said, the previous support line stretched from early November guards the immediate upside of the XAUUSD around $2,022. As the RSI (14) line’s recovery joins the impending bulls cross on the MACD to back the precious metal’s rebound, the quote is likely to surpass the nearby hurdle surrounding $2,022. However, the 200-SMA and the top line of a three-week-old bearish channel, respectively near $2,037 and $2,051, will challenge the bullion buyers afterward. In a case where the prices remain firmer past $2,051, the odds of witnessing a quick rally toward the $2,090 horizontal resistance region can’t be ruled out. Meanwhile, the 61.8% Fibonacci ratio of the metal’s November-December upside, near $2,015, restricts nearby declines in the Gold price. Following that, the aforementioned channel’s bottom line, close to the $2,000 psychological magnet, will precede the previous monthly low of around $1,973 to act as the final defense of the buyers. Should the XAUUSD remain bearish past $1,973, the downside momentum will aim for November’s bottom surrounding $1,930. Overall, the XAUUSD remains bearish unless it manages to defy the descending trend channel formation backed by the downbeat US Dollar.
OANDA:XAUUSD
by MTradingGlobal