The gold price was moving within a narrow range last week. The price was bounded by 2020-40 until Wednesday's US better-than-expected GDP data; it cleared the 2020(2) support and dropped to as low as 2010.
There are two major economic events to pay attention to this week. First, we have the Fed. Meeting on Wednesday. There is a 95% chance that the interest...
Potential buy or selling opportunity on GOLD
our technicals are bearish overall, but we have
fundamentals to be mindful of pay attention to what
price action iOS doing and showing us.
Bears are fairly in control of the Trend as of this weekend..
With FOMC coming up, Either of the 2 Zones
1980 or 2080 could be tested..
Technically 2030 2035 is the Crucial zone..
If Respected, 1980 zone is likely to be tested.
If Broken, 2055 could be tested before Last attempt by Bears to claw their way back.
Above 2065, Bulls will Toss The Shorts for a...
I have manually constructed Gann Angles for XAUUSD scrip without the use of any software tools.
The levels of 2022.04 and 2033.89 are important for it. Below these we may see a bigger correction on it to 50% level shown on charts. Expecting volatility to increase on the scrip with moves getting bigger on both sides. Trade safely as we are nearing Gann Mid....
The 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...
Technical Analysis:
Examine price charts for trend patterns, support/resistance levels, and key technical indicators (e.g., Moving Averages, RSI, MACD).
Identify potential entry points based on chart patterns or breakout scenarios.
Fundamental Analysis:
Consider economic factors that might influence the price of gold, such as inflation rates, interest rates, and...
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...
XAUUSD (Gold/US Dollar) based on the 30-minute candlestick chart. Predicting specific movements in financial markets, especially within short time frames like 30 minutes, is highly uncertain and speculative.
Gold 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...
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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...
this is the forth time the precious metal has reached the same high and has reversed. RSI in the bear zone on two time frame charts at price resistance is very very negative. In my view the precious metal is all set for a big correction this time around.
The sentiments has changed and hence now we are long on gold from 2020 region with an Upward target of 2038 , the fib retracements also point to 2038, Hopefully we will hit the intraday targets today.
