Dear traders, I am Conan! Today, I want to share with you an extremely exciting update on medium and long-term gold. Overall, Gold is currently at a historic peak and all signs indicate that prices will continue to explode in the coming years. As you can see On the chart, we can see a strong developing cup and handle pattern on the monthly timeframe. This is a...
Hello everyone, let's recap the gold market over the past week together! This past week hasn't been particularly favorable for gold. The precious metal is currently closing at $2,327 per ounce, remaining in a short-term downtrend. The trading level has seen little change since its last session at $2,365 per ounce. In the short to medium term, adjustments are...
Gold prices continued to decline today, dropping by $16 to $2,327 per ounce, closing out the trading session for the week. During the final trading session of this week, the gold market received the much-anticipated report on the Personal Consumption Expenditures (PCE) Price Index. Despite inflation rising in line with expectations, which increased the likelihood...
During this weekend's trading session, the gold market received the personal consumption expenditure index (PCE) report, one of the most important data of the week. Although inflation increased as expected, increasing the possibility that the US Federal Reserve (Fed) will lower interest rates this year, gold prices continue to decline. Gold prices' retreat after...
Gold prices fell on Friday (May 31), as investors considered the US inflation report mostly as forecast, despite expectations that the US Federal Reserve (Fed) will lower interest rates in This year has helped gold increase for the fourth consecutive month. At the end of the trading session on May 31, the spot gold contract erased the early session gain and...
FX:XAUUSD reduces volatility and shrinks into a narrow range before the news. US GDP did not play any role and traders are waiting for the general fundamental background. Locally, the downtrend. The trend is downtrending, but on yesterday's news the price is trying to break the channel resistance, forming a consolidation of the price above the line. But if...
Dear traders! Gold prices are consolidating the previous recovery in a downtrend but remain limited in a narrow range near $2,350. Accordingly, News is ahead, we are waiting for the highly anticipated US Core Personal Consumption Expenditures Price Index, the Federal Reserve's preferred inflation measure, for momentum new directional force. You need to understand...
TVC:SILVER Expecting small correction to our identified area, and a strong bounce from our region is expected. The trend is still extremely bullish however, as we said price is making a correction once it completed and at the rejection we can enter. **If you like the idea then please like,comment and follow us** Team Setupsfx_
Hey Everyone, Great finish to the week with another nice catch from the dip. Not much to update today, as we saw price play between both weighted levels like we suggested yesterday. Currently back to testing the 2322 level again. We will need to see ema5 lock above or below either level to open the next range. We will now come back Sunday with our multi...
WTI Crude Oil is trading in a bearish trend on a daily. For the entire month of May, the market is consolidating within a horizontal range. I believe that a bearish trend will continue after a violation of the support of the range. I am waiting for its breakout to sell the market. A daily candle close below 75.5 will confirm a violation. A bearish wave will...
Short term potentially in a cup and handle pattern since June 2022, currently in the distribution stage around the bottom. Needs to close above 21M EMA for confirmation. An uptrend can start in Q4 2024, which would get the price to $125+ in 2025. Long term the price seems to be in an uptrend since 2016, if excluding the 2020 outlier. The resistance at 200M EMA...
Although central bank buying and strong Asian demand have created a long-term fundamental bullish trend for gold, OANDA:XAUUSD , but uncertainty surrounding the Federal Reserve's monetary policy continues to create large short-term fluctuations, mainly with mixed pressure to strengthen the US Dollar's position. Gold prices rose to a record high above $2,450...
OANDA:XAUUSD reached a peak of $2,450 in May but has since fallen over 4%. This shift indicates a change in investor sentiment, with bullish investors likely seeking other opportunities. The weakness in gold may persist due to factors like inflation and the US central bank's restrictive stance. Traders watching short positions should pay attention to the $2,335...
Upon analyzing the XAU/USD chart in the 2-hour timeframe, we observe that the price declined from $2370 to $2325! Subsequently, gold rebounded with demand and is currently trading in the range of $2340. It’s possible that after an upward movement, we might witness further decline in gold prices. Keep an eye on the price reaction in the range of $2350 to $2360!...
1. US Q1 GDP was revised down due to weak consumer spending. 3. Israel will not end the conflict to reach an agreement to release all hostages. 4. OPEC+ is working on a complex production cut agreement for the period 2024-2025. 5. US April pending home sales suffered the largest decline in three years. With important information last week we see - The US economy...
During the week you can trade from these price levels. Finding the entry point into a transaction and its support is up to you, depending on your trading style and the development of the situation. Zones show preferred price ranges WHERE to look for an entry point into a trade. If you expect any medium-term price movements, then most likely they will start from...
Dear traders! Gold (XAU/USD) traded steady at $2,340 on Friday, pausing a difficult recovery from Thursday's three-week low around $20 lower. The recovery came after weaker US growth data showed inflation will be contained and interest rates are likely to fall. As a non-yielding asset, lower interest rate expectations are positive for Gold. And if the upward...
Hi friend. Like i write in previous idea market strong support 2328. But there is no market process wich can continue falling. So my opinion growth to transit zone 2340-2346 after bears was distributed. Support me;)