Gold/XAUUSD Daily Analysis for TradingGold Daily Analysis Made here for better understanding to traders..
Trade Wisely for Intraday/ Short term trades..
All the Best
Stay Blessed..
Xauusd(w)
Gold bears prepare for another stunt as US inflation loomsGold Price again prods the 200-day Exponential Moving Average (EMA) support, after failing to break the same during late August, within a 2.5-month-old falling wedge bullish chart formation. The sluggish MACD signals and a downward-sloping RSI (14), not oversold, also favor the XAUUSD bears in breaking the 200-EMA support of around $1,910, which in turn will allow the precious metal to test the $1,900 threshold. However, the stated wedge’s bottom line of around $1,880 could challenge the commodity sellers afterward. In a case where the quote remains bearish past $1,880, the 78.6% Fibonacci retracement of its February-Mary upside, close to $1,860, will act as the final defense of the buyers before directing the prices toward the early 2023 low of around $1,805.
On the contrary, the Gold Price recovery will aim for the 100-EMA hurdle of surrounding $1,930. Following that, the aforementioned bullish chart pattern’s top line, close to $1,945, and the monthly high of near $1,953 could challenge the XAUUSD buyers. In a case where the bullion remains firmer past the $1,953 hurdle, the odds of witnessing a rally towards July’s peak of $1,987 and then to the theoretical target of the wedge formation, close to $2,045, can’t be ruled out. It’s worth noting that the $2,000 psychological magnet acts as an extra filter toward the north.
Overall, the Gold Price appears to decline further but the downside room seems limited unless the US CPI offers an extremely strong figure for August month.
Gold price increased in the Asian and European trading session🍀Gold price trades higher around $1,930 a troy ounce, rebounding from the losses registered in the previous week. The pullback in the USD is providing support in strengthening the prices of Gold, which could be attributed to the lower likelihood of the US Fed keeping interest rates unchanged in the upcoming September.
🍀Gold price increased in today's Asian and European trading session. continuously increased from 1919 price after opening to 1930. We can wait to catch a rebound from gold
🍀Interesting knowledge about trading
Trading is not as interesting as many people think.
Trading is a boring job!
With repeated actions that are not allowed to bring emotions into it!
Gold price suddenly decreased slightly today. Why ?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 meeting on September 19-20, I expect gold prices to continue to receive strong support. .
Wishing you successful and effective trading endeavors.
GBP/USD struggles to reclaim 1.2500 ahead of the weekendGBP/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.
XAUUSD-Triple bottom pattern formedAt 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 waves from the 1916 to 1928 area this morning, we will see that 5 short-term waves have completed, so the probability this evening may continue to confirm another selling phase back into the market. sidedway border.
If you trade, please note that you should only trade around the upper and lower borders and reduce the trading volume.
It is expected that if selling pressure occurs, GOLD will fall back around the 1922 - 1923 area.
Non-Farm Employment Change trading planUS 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 going forward.
news trading strategy:
SELL GOLD 1955-1957
SL 1962
BUY GOLD 1924-1926
SL 1919
Long setupSeems 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.
XAUUSD SELL+SYMETRICAL TRIANGLE 10.9.23Reason 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 1910
TP2 1870
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
XAUUSD-Gold found in 1952 was just an accidentGold 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 September 13, the US announces that the August inflation index fell exactly or lower than the forecast of 3.2%, gold will continue to face difficulties.
Trading plan:
XAUUSD Sell zone 1933 - 1935
SL 1939
TP 1915
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.
Gold has limited downside room unless it breaks $1,900Gold 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 RSI (14) also rebounds from the oversold territory and hence increases the odds of witnessing a corrective bounce towards the EMA convergence surrounding $1,930. Following that, the 50% Fibonacci retracement of the July-August downturn, near $1,937, may please the XAUUSD buyers before testing them with a seven-week-old descending resistance line surrounding $1,950. Adding strength to the stated trend line resistance is the 61.8% Fibonacci retracement, also known as the “Golden Fibonacci Ratio”.
Meanwhile, the Gold buyer’s failure to defend Thursday’s corrective bounce needs to break $1,915 support to recall the sellers. Even so, a horizontal area comprising multiple levels marked since late June, close to $1,900, appears a tough nut to crack for the XAUUSD bears afterward. It should be observed, though, that a clear downside break of $1,900 won’t hesitate to challenge the previous monthly low of around $1,884 while targeting the early March swing high of around $1,858 and then to the yearly bottom of $1,804, quickly followed by the $1,800 round figure.
To sum up, the Gold price remains on the bear’s radar despite the latest recovery.
Gold Market Analysis: Growth Prospects Next WeekGold 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 broken, all expectations are for further growth, I told you there is a possibility of a false breakout. On Friday, after the release of the non-agricultural employment data and the unemployment rate, the market fluctuated in two directions, and the price returned to the boundary of the ascending channel (false breakthrough), and the closing was still an alternative to the ascending channel (false breakthrough). ). The opening price of the channel. Friday meeting. The market is weak.
As the DXY US dollar index is testing strong resistance around 104.5, a break of this area will lead the price towards 105.5, which will have a negative impact on the formation of gold prices.
SIGNALS:
BUY GOLD zone 1934-1936
SL 1930
TP 1940,1950
XAUUSD SELL PROJECTION WITH RSI & STOCHASTIC STRATEGY 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
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
GOLD : ADP jobs report reveals an economic slowdownThe 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 $5.00.
The ADP's monthly report is released on Wednesdays, 2 days before the release of the government's nonfarm payroll report. These two reports will occur before and after tomorrow's PCE index report. Today's jobs report came in well under expectations and much softer than the previous month of July. The July ADP report for June was revised upward recently, revealing that 371,000 new jobs were added.
XAUUSD : PCE index reveals Inflation remains persistent at 4.2%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 will release the jobs report for last month. This report will also have a large impact on the financial markets including gold and silver. Current estimates are that the report will show that an additional 170,000 jobs will be added to payrolls next month and that the unemployment rate will hold steady at 3.5%.
Gold price today August 31: Gold reached a 3-week peakGold 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 has improved, as China continues to implement measures to stimulate the economy, which are positive factors for gold prices.
Short trading plan:
Sell Gold 1953-1955 SL 1960
Plan nonfarm
Buy Gold 1933-1935 SL 1928
Sell gold 1965-1967 SL 1973
Gold buyers remain hopeful on NFP day, focus on $1,955Gold 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 the quote’s successful rebound from the 50% Fibonacci retracement of its November 2022 to May 2023 rise joins the bullish MACD signals to favor the upside bias for the metal price. However, the RSI line speedily approaches the overbought territory and hence suggests the limited room towards the north for the metal, which in turn highlights the $1,955 level as a tough nut to crack for the bulls. In a case where the commodity remains firmer past $1,955, the odds of witnessing a quick rally towards the 23.6% Fibonacci ratio of around $1,987 can’t be ruled out whereas the $2,000 threshold could check the run-up afterward.
On the flip side, the $1,900 round figure will precede the 50% Fibonacci retracement level of around $1,898 to restrict the near-term downside of the Gold Price. Following that, the lows marked in June and August, respectively near $1,893 and $1,885 will be in the spotlight for the sellers. Should the XAUUSD remain weak past $1,885, its fall toward the 61.8% Fibonacci retracement of near $1,858, also known as the Golden Fibonacci Ratio, becomes imminent.
Overall, the Gold price approaches the interesting resistance territory as markets await the US employment report for August.
XAUUSD : Precious metals continue to increaseGold 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 labor market as it can determine when the US central bank stops raising interest rates. The Fed has said it will need to consider a slowdown in the labor market as a condition for ending the current tightening cycle.
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.
EURUSD 08/30EUR/USD reverses from the weekly top while posting the first daily loss in three around 1.0860. The Euro pair marks the trader’s positioning for the top-tier German and the US data.
