Hello dear traders! Nice to see you all again to explore and discuss today's market! Currently, the gold price has had a slight decrease from the previous session after reaching a peak of $ 1,952.79 / ounce, the highest this month, then falling to $ 1,936 / ounce. Gold is expected to see significant changes ahead of the Federal Reserve's upcoming monetary policy...
GBP/USD clings to small daily gains but finds it difficult to surpass 1.2500 on Friday. The bullish opening in Wall Street makes it difficult for the USD to continue to outperform its rivals and helps the pair hold its ground heading into the weekend.
At the end of last Friday's session, GOLD had confirmation of a sideways accumulation around the 1916 - 1928 border after the price tried to push up past the 1928 peak but then sold back strongly during the night of Friday, which This shows the hesitation of investors before the US inflation announcement on Wednesday night this week. If we label the short-term...
US Dollar Index continues to recover while gold comes under some fundamental pressure holding back the upside as core US Personal Consumer Expenditure (PCE) Price Index (PCE) data for August improved a bit. little. The US Nonfarm Payrolls (NFP) report, due out today, is expected to bring huge volatility across the market as it will shape the Fed's capabilities...
Seems like formed a double bottom pattern on the charts. If momentum continues and the price goes above 1922-23, there may be a breakout. Further targets may be 1931/1941 to 1948. Only for learning and sharing purposes, not a piece of trading advice in any form. All the best.
Reason For First Bullish 1. Inverted Bullish Hammer 2. Fake Bearish Spinning Top wgich make the retracement towards the Nearer Resis 1937-40 Reason For FALL/SELL 1. Double Top Formation @ 1940 2. Obey Strong Resistace and trend lINE @ 1940 3. Symmetrical Triangle Breakout Over Sell region Expectecd Over Possible Outcomes XAUUSD SELL @ 1935-40 SL 1955 TP...
⚡️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...
Gold price today continued to maintain a downtrend and traded around 1925 usd/ounce. It can be seen that last night, the USD had a hot session again, causing gold to come under downward pressure and hit its lowest level in the past week. In the near future, the gold price may drop further to the threshold of 1,900 USD/ounce when the USD is still rising. If on...
EUR/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...
Gold price appears well set to print the first weekly loss in three as it defends the previous Friday’s U-turn from a key resistance line below the important Exponential Moving Averages (EMAs). However, the 50-EMA pierces the 200-EMA from below and prints a “Golden Cross” bullish moving average crossover suggesting a corrective bounce in prices. Additionally, the...
Gold price regains positive traction and remains within the striking distance of a one-month top. Expectations that the Federal Reserve is down with its rate-hiking cycle underpin the XAU/USD. A positive risk tone might hold back bulls from placing aggressive bets and cap any further gains. On the hourly time frame, the ascending channel resistance was previously...
Reason Behind XAUUSD Sell Projection 1. Stochastic Overbought above 80 and ready to make a Fall 2. RSI 14 Below 50 Which Makes the sell trend In 1h Timeframe 3. Market Clear ON Downtrend and Make the Sell Direction Overall Outcomes XAUUSD SELL @ 1920-23 SL 1927 TP 1910
🌸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...
The range in gold futures on Wednesday, Thursday, and Friday of last week was tepid with a defined intraday high on all three days at approximately $1950 to $1955. Yesterday's report which revealed a softening of job openings resulted in a surge in moving gold of approximately $20, today gold had a fractional gain when compared to yesterday of approximately...
According to the report the core PCE price index (excluding food and energy) rose from 4.1% to 4.2% annually. Although prices continue to rise American consumers increased their spending by 0.8% in July although personal income only gained 0.2%. The core PCE rose 0.2% month over month and weekly jobless claims fell to 228,000 down 4000. Today the Labor Department...
Gold prices are rising and reaching a 3-week high of 1935 USD/ounce after a series of lower-than-expected US economic data. ADP's national employment report for August only increased by 177,000 jobs, compared with expectations for an increase of 200,000 jobs. According to experts, the US stock market is trending up. The sentiment of overseas traders and investors...
Gold braces for the second consecutive weekly gain as it confronts the key resistances on the US Nonfarm Payrolls (NFP) day. Among them, the four-month-old descending trend line is the immediate challenge for the XAUUSD bulls around $1,945 ahead of the $1,955 crucial hurdle comprising the 100-SMA and the previous support line from late 2022. It’s worth noting that...
Gold prices continue to increase today as newly released data shows that the labor market is showing signs of cooling and the US economy is slowing down. Specifically, the report on gross domestic product in the second quarter of the US Bureau of Economic Analysis showed that the economy grew by 2.1%, lower than expected. Analysts are now closely watching the...