OANDA:XAUUSD reaches the previously mentioned 2050 area a bit faster than we expected. The rally is followed by a logical correction. But how long will the correction last?
On D1 we see a counter-trend correction in TVC:DXY . The correction may last until the publication of GDP related news, which is published today at 15:30 GMT. Analysts are expecting the...
OANDA:XAUUSD within a strong bullish trend is forming a consolidation in the 2018 - 2010 range. Lower volatility is forming and several candlestick indications are forming that price may test support before further distribution.
On D1 we can see that the leading asset, in our case it is the TVC:DXY , is testing support, which may trigger a correction to...
US GDP KEY POINTS:
- US GDP Q3 (2nd Est) Actual 5.2% Vs 2.1% Previous.
- GDP Price Index QoQ (2nd Est) Actual 3.5% Vs 1.7% Previous.
- Markets Continue to Price in More Aggressive Rate Cuts from the Fed in 2024, Weighing on the US Dollar.
The US economy grew at an annualized rate of 5.2% in Q3 2023, above the forecasted figure of 5% and revised from the...
World gold prices today continued to climb to a peak after the latest report showed that US GDP in the third quarter increased by 5.2% instead of the estimate of only 4.9%. Today's world gold price listed on Kitco is at 2,042 USD/ounce, up 2 USD/ounce compared to early yesterday morning.
Precious metal prices continued to climb to their peak after the latest...
At the end of this morning's trading session, gold prices still increased strongly, but gold had difficulty taking advantage of increased profits in the region to reach 2,050 USD/ounce. The US Dollar modestly eased off its lowest level since August 11, acting as a drag on Gold prices, despite bets on interest rate cuts by the US Federal Reserve (FED). in 2024...
Fundamental Analysis :
Since we all know the geopolitical tension we are living right now : Russian and Ukranian War, Palestinian and Israel conflict, Tension between USA and China, BRICS buying gold massively.
Also increasing inflation all over the world, increase in interest rates is globalised...
Gold also is very correlated with US CPI, GPD, Housing...
Hello traders , gold broke a strong resistance on monday with the daily candle closing above.
the market has been ranging since .
with the weakening of the US Dollar to me gold may still push to the upside there is alot of potential.
if the price manages to break above the range with an hourly candle id enter on a retest.
but the safest entry is to wait...
Gold prices today (November 28) increased slightly. Although the precious metals market is having some significant upward momentum, analysts are wondering whether gold can reach an all-time high in the near future. come or not.
The gold market is benefiting from new market expectations that the US Federal Reserve (Fed) will soon cut interest rates. According to...
TECHNICAL ANALYSIS OANDA:XAUUSD
Gold prices rose on Monday, supported by falling US bond yields and a weaker US dollar. With recent performance, the precious metal is up more than 8% since October, moving above the psychological $2,000 level – a technical signal that has reinforced the metal's constructive trend.
To have stronger confidence in the bullish...
The world's gold price today, November 28, fluctuated violently in the context of market predictions that the US would soon cut interest rates and the USD would depreciate on a large scale.
Yesterday, Reuters quoted Deutsche Bank (Germany) forecasting that the US economy would decline in the first half of 2024, leading to a high unemployment rate. This will push...
OANDA:XAUUSD has been forging a bullish momentum since the opening of the session and updated its global highs to $2018. The market under the pressure of increased interest, weak dollar and fundamental factor is likely to continue its growth.
In the next few days, no important news that could change the situation is expected, therefore, the favorable...
Gold is trading inside a Channel Up on the 4H timeframe since the Nov 12th low. Stable bullish technical outlook on 4H (RSI = 66.543, MACD = 8.550, ADX = 30.155), which calls for an extension of the current price action which is at the bottom of the Channel Up currently, to a new HH. We aim at a +1.96% rise (symmetrical with previous bullish legs), TP =...
Gold continues to strengthen on the trend. This market is attracting more and more investors every day on the background of geopolitical and fundamental factors. I expect the market to continue its upward trend as there are several reasons for this.
1) We are in a strong bullish trend
2) Price is breaking strong support lines today and testing new highs.
2.2...
OANDA:XAUUSD gained +1.1% over the past week. The market is quite strong and the end of the trading week shows a bullish mood and several indications that the growth may continue as the asset has not reached its target yet.
The week ahead is full of important fundamental aspects. On Wednesday, Thursday and Friday important news will be released, here are the...
OANDA:XAUUSD is standing still on Thursday, which we were prepared for. The TVC:DXY opens with a subsequent decline on Friday, which gives bullish hopes for GOLD to strengthen. Let's breakdown:
On the local timeframe, the prolonged consolidation is forming a symmetrical triangle, but as a strong support area is forming below the pattern and the price is...
Today's world gold price increased when the US manufacturing PMI index (an index measuring economic activity) dropped from 50 points to 49.4 points.
This data makes investors believe that the US economy is weakening. Accordingly, they expect the US Federal Reserve (FED) to soon reduce interest rates in 2024 to promote economic growth.
Immediately, the currency...
