Investors are looking ahead to data on the ISM services sector index and initial jobless claims, both of which are scheduled for release along with US NFP data on Friday.
Data released on Wednesday showed NFP figures rose more than expected in September, suggesting the labor market remains strong.
According to the CME FedWatch Tool, the probability of the Fed...
Based on the 1-hour analysis, the price is currently hovering near the support level. I'm personally eyeing a selling opportunity, but we need to wait for the price to close below 2640.00 first.
Once that happens, we can place limit orders near the key retracement levels.
For now, avoid placing any advance orders. Wait for strong bearish confirmations before...
On the 1 hour timeframe, GBP USD has formed a Double Bottom at the Daily + 4 Hour support level.
For a more conservative entry, we need to wait for a breakout of the neckline, followed by a retest.
We’ll then look for candlestick confirmations at the retest level before entering a buy position.
GBP USD is moving in an uptrend making higher highs and higher lows,
With this bullish momentum we will be looking for buying opportunities from the lower timeframes.
To get our entry lets scale to the lower timeframe to identify chart patterns and entry confirmations.
Notably, the US manufacturing purchasing managers index (PMI) for September fell short of forecasts and the previous month.
The personal consumption expenditures (PCE) price index for August fell sharply from 2.5% in July to 2.2% year-over-year. The PCE price index for August also fell from 0.2% to 0.1%. Personal spending fell sharply from 0.5% in July to 0.2%....
#XAUUSD ( Update..! )
Looking for sell setup | Short
Gold keeps growing but a strong horizontal resistance & trend line around 2669 is ahead so after the retest we will be expecting a local bearish correction..!
. Don't forget about stop-loss.
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P.S. I personally will open entry if the price will show it according to my strategy.
Always make your analysis before a trade
The upcoming US presidential election could boost gold prices due to market uncertainty, making it a safe-haven option for investors. Despite some selling pressure to lock in profits, gold prices remained steady after hitting a new record on Wednesday. Investors believe that upcoming comments from Fed Chairman Jerome Powell and US inflation data will support...
Messy Price Action 🤕🤧
On the 1-hour timeframe, EUR/USD has formed a supply zone around the 1.11600 price area, and the price is currently pulling back to that level. Meanwhile, the DXY (US Dollar Index) is tapping into a demand level on the daily timeframe.
I’ve also noticed the price slowing down at a minor resistance level, but I’ll wait for a pullback to the...
The half-point decision was made after considering inflation, economic data and risks. Along with the policy pivot, many economists noted that there will be more than one rate adjustment this year. Accordingly, the dot-plot chart shows the central bank expects rates to fall to 4.4% by the end of the year, down from the 5.1% estimate in June.
Gold rose slightly in early trading after reversing sharply lower yesterday. Gold benefited from the sharp decline in the US dollar and government bond yields following the Fed policy decision, with the metal surging more than $30 to a new all-time high of $2,600.14. However, the recovery in the US dollar and yields during and after Mr. Powell's press conference...
The consensus among analysts, economists, and market watchers is that a rate cut is almost certain. According to CME FedWatch, the market is currently pricing in a 73% chance of a 25 basis point cut and a 27% chance of a 50 basis point cut.
As Gold prices continue their support area 2565_2560 target 2600
Gold selling area 2600 it target 2540_2520 unstoppable run higher scaling new all-time record highs for a fourth consecutive quarter in a row conclusive evidence shows that we are just in the early stages of a new historic Supercycle for Gold
The world gold price is currently at $2,563/ounce, up $46 compared to early yesterday morning. The main driving force comes from the ECB's monetary policy easing move. Specifically, the ECB has lowered the base interest rate by 25 bps to 3.5%, while reducing the refinancing rate and marginal lending rate to 3.65% and 3.9%, respectively. In addition, the gold price...
On a higher degree time frame we see gold coming higher into a fifth wave, but it may take some time before it finds the top as we see an unfinished lower degree impulse
On the 4-hour timeframe, EUR/USD has formed an ascending channel followed by a strong breakout to the downside, creating a supply level around the 1.11300 area, where the price has tapped in and is currently selling off from.
To get a sell entry, we need to wait for a market structure break and retest. Currently, the price is at a minor support level. We need to...
At the beginning of the trading session in the US market, the world gold price increased, investors increased their gold purchases. The US August employment report was gloomy, pushing up expectations for the US Federal Reserve (Fed) to loosen monetary policy. , the possibility of the Fed cutting interest rates by 25 basis points is increasing, which could make...
EUR/USD recovered last week but failed retreated since then. Initial bias remains neutral this week first Price actions from are still seen as a consolidation pattern In case of deeper retreat downside should be contained by retracement of to bring rebound Break of will resume larger rise towards high However, sustained break will indicate reversal and turn...
