FX:XAUUSD is trading inside the global range, forming a small flat inside. Consolidation continues and at the moment there is no reason for the price to leave the 2195-2144 channel. On D1 and H4 we see a sideways channel, a range. The market is clearly bullish, but at the moment the price is standing still. On the left side of the chart we see local liquidity...
Gold is consolidating on the 4H timeframe, which is accurately depicted on the neutral technicals (RSI = 52.765, MACD = 2.520, ADX = 28.648). Such sideways price action is best traded on a breakout approach. If the LH is crossesd, we will buy and target the recent High (TP = 2,220). If the HL 1 or 4H MA100 is crossed under (whatever takes place first), we will...
FX:XAUUSD is forming a correction after a false breakdown of the resistance of the range. Against the backdrop of a strengthening dollar index, pressure from resistance appears in gold. The market is starting to bet that the Fed will not cut rates this year. At the same time Bostic (Fed) said he now expects only one Fed rate cut this year following Powell's...
The Federal Reserve will announce its March monetary policy on Wednesday. Experts expect the benchmark rate to remain unchanged, along with the quantitative tightening program. The focus will be on forward guidance, with the Fed likely stating that they won't lower borrowing costs until there is more confidence in inflation reaching 2 percent. The Fed may raise...
Gold has been rejected at the top of the 6 month Channel Up. A similar rise in magnitude (+11%) took place on the first bullish leg of this Channel Up and then pulled back to the 1day MA50 and hit the 0.382 Fibonacci level. The 1day RSI is already on a Bearish Divergence. Sell and target 2115 (0.382 Fib) for the short term. Previous chart: Follow us,...
FX:XAUUSD corrects after testing $2222. News on Thursday shook the market after Powell's dovish statement on Wednesday, which spurred a false breakdown and a 2.5% fall Yesterday the market met a bullish wave of news for the US market: Initial Jobless Claims down, PMI up, overall this is a locally positive scenario, but today at 13:30 Powell speaks, who can...
OANDA:XAUUSD OUTLOOK - Gold prices retreated this week but are still up more than 5% in March - The Fed’s monetary policy announcement will take center stage in the coming week Gold prices (XAU/USD) fell 1.05% this week to $2,155 due to higher U.S. Treasury yields and the U.S. dollar. However, gold has maintained strong bullish momentum in March, with a gain...
Gold has had a strong rally after holding the 1W MA50 on the week of February 12 2024 and remains almost overbought on its 1W technical outlook in the past three weeks (RSI = 68.498, MACD = 43.750, ADX = 37.013). The grand pattern on 1W has been a Channel Up dating back to late 2019. As shown on the chart, the last two HL were on the 1W MA50 and 1W MA200...
FX:XAUUSD is getting a good medium-term signal on Powell's words yesterday. Metal is trampling its way into new horizons and probing new highs. Today the market is waiting for Initial Jobless Claims and PMI. M1 timeframe is pointing us to the approximate medium term potential which is capped at $2380-2400, price has entered a new bullish range. Yesterday's...
After increasing to 2,195 USD/oz last week, this week's gold price continuously adjusted from 2,188 USD/oz at one point to 2,150 USD/oz and closed at 2,156 USD/oz. Gold prices have increased sharply in recent times mainly due to purchases by central banks and investors buying gold in anticipation of the FED reducing interest rates next June. Therefore, the rising...
Two weeks ago (March 07 2024, see chart below) we explored the possibility of Gold (XAUUSD) starting a new cyclical Mega Rally on the 1W time-frame after the recent bounce on the 1W MA50 (blue trend-line): This has turned out to be the reality as Gold closed a 1W candle above the Resistance Zone. That is the first signal of the start of the new Mega Cycle and...
Gold prices stabilized on Friday (March 15) but recorded their first weekly decline in four weeks, as investors lowered expectations for US interest rate cuts after data this week showed pressure. price increases. At the end of the trading session on March 15, the spot gold contract was almost flat at 2,159.99 USD/oz. This week, the gold contract lost 0.8%,...
FX:XAUUSD is trading under resistance pressure. The market is still forming a downward correction channel after a strong rally. Ahead of important news that will determine the medium-term outlook. The price is testing the correction resistance, but at the same time sellers are still holding the market back. Buyers do not let the price go beyond 2145-2150,...
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...
FX:XAUUSD is being held very tightly within the downward correction channel. The fundamental background on the market is weak, at this time the dollar is growing, which in general negatively affects the price of metal. Set-up on H4 shows us a strong resistance on the market. In general, this is due to the negative fundamental factor because of the economic...
FX:XAUUSD continues to form correction. Price has been breaking through support since the open and is testing the key liquidity area formed on Dec. 4 $2,145 - $2,150 Overall, the price is not ready to go above the made high. Yes, there was an earlier breakout of the resistance level from December 2023, but there seems to be pressure from the resistance side...
OANDA:XAUUSD Analysis and Chart - Gold trading on either side of $2,165/oz. but a break may be near. The latest US PPI data – wholesale inflation - came in above market expectations, and last month’s print, but the dollar and US rate cut forecasts, remain little changed. US Retail Sales in February picked up, turning positive, but again missed market...
FX:XAUUSD is updating the global maximum. The distribution stops. The market goes into correction state. But, what is also interesting, a setup is forming on the chart, foreshadowing a support breakout. Let's briefly discuss the current situation in gold, without a long rant. The upcoming week is full of news. FED & FOMC meetings and Powell's speech are the...