XAUUSD | GOLDSPOT | New perspective | follow-up details

darcsherry Updated   
PEPPERSTONE:XAUUSD   Gold Spot / U.S. Dollar
To ensure economic stability, the Federal Reserve has opted to temporarily halt further interest rate hikes, exemplifying their dedication to mitigating potential adverse repercussions. The aftermath of the Federal Reserve's announcement sent ripples of volatility through the gold market. Before this revelation, gold had been on an upward trajectory, firmly establishing a bullish sentiment. However, the rate decision led to a sharp reversal in gold prices, sending them tumbling back to their previous week's starting point. This market shift underscores the prevailing uncertainty as trading activities hover at a pivotal juncture, with the $1,925 zone at the forefront.

The potential for a rebound in XAUUSD prices looms large, attributed to the reversal in US bond yields. The US 10-year benchmark note coupon recently retreated from a 16-year high of 4.51% to 4.44%, consequently causing US real yields to dip by five basis points from 2.11% to 2.06%. The question arises: could the current Gold price be undervalued in light of these developments?"

XAUUSD Technical Analysis:
In this video, we dissected the XAUUSD chart from a technical standpoint, analyzed the key levels, analyzed historical price moves, market behaviors, and buyer-seller dynamics and uncovered potential trading opportunities.

The $1,925 zone will remain our center stage for this week. Its historical significance makes it a crucial point. If the bullish momentum is sustained then the breakout of the uptrend continuation pattern - falling wedge identified on the daily timeframe could incite a strong uptrend continuation. However, if the price breaks below the demand zone at $1,900 then some selling opportunities could take center stage to trigger a USD-favored sell-off.

Stay tuned for more thrilling updates on the Gold market! Remember, trading involves risks, and I always recommend exercising caution and seeking advice from financial professionals. Hit the like button if you found this analysis helpful, and don't forget to subscribe for more insightful content! 📺🔔💼

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Market dynamics continue to exhibit a range-bound pattern, with price action staying contained within the narrow corridor defined by $1,926.50 and $1,922.75. This range mirrors the pivotal $1,925 level that has encapsulated the market's attention since the new week began. Buyers and sellers are cautiously navigating these waters, steadily working to establish momentum.

In this environment, our strategy is one of patience and watchfulness. We are awaiting a distinctive signal in the form of a breakout from this range, which will unveil potential trading opportunities. Stay tuned for the moment when the market reveals its direction, signaling our next move.

Good Morning

Trade active:
The bearish sentiment in this market continues as we currently have four sell positions running with over 550 pips profit . Secure all positions as we look out for more trading opportunities.

Trade active:
In our recent live session this morning, we emphasized the importance of securing existing positions while remaining vigilant for additional trading opportunities. It's crucial to keep in mind the potential actions of buyers at this juncture. As we navigate today's trading session, we'll be relying on the levels outlined on the chart as our primary guide.

Trade active:
We presently maintain six sell positions, amassing an impressive profit of over 1,800 pips. Gold reached a 6-½ month low today, breaching the crucial $1,900-per-ounce support level that had held since early August. This decline is attributed to a sustained shift of investment capital from gold toward the US dollar and Treasury yields.

As the prevailing sentiment among market participants suggests that the U.S. growth exceptionalism narrative is poised to persist, it is prudent to secure all sell positions at this juncture while we look out for more trading opportunities.

Good Night!

Trade smart. Trade consciously

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