FX:XAUUSD is testing local channel support and forming a rebound from the liquidity zone. Traders are waiting for PCE data. Favorable inflation data may provide strong support for gold. Traders are waiting for the PCE, any hints of lower inflation may be viewed quite positively, which will generally increase the chance of interest rate cut in September. As we...
GOLD after the retest of 2430 fell under the selloff, there is no pressure on the price of metal, but the reason may be profit taking amid the selloff in stocks and in anticipation of economic data from the United States. Traders are waiting for US GDP and Initial Jobless CLaims, which will be released at 12:30 GMT. The data may have a medium-term impact on...
We are nearing the end of the week and have had some nice movement heading lower.. I have marked out the Previous Day Wick ( PD Wick ) If price is to retrace today for NY this is where I would expect it to stop and head lower / consolidate at least. The Draw on Price are bellow : Daily +OB Daily EQL'S DAILY FVG
Early in the Asian trading session on July 25, OANDA:XAUUSD decreased more than 1%, as of the time the article was completed, gold was trading at 2,372USD, equivalent to a decrease of 25Dollar during the day. Former New York Fed President Dudley (who enjoys perpetual voting rights on the FOMC and is known as “the Federal Reserve's third in command”) wrote: I...
OANDA:XAUUSD Strong recovery, Gold price reached 2,418 USD/ounce during the Asian trading session on July 24. Spot gold ended a four-session losing streak as India's move to cut import taxes on gold and silver is expected to boost global gold demand. India plans to significantly reduce import duties on gold and silver The Indian government on Tuesday...
During the last weekend, the price of OANDA:XAUUSD decreased due to the strengthening of the US Dollar and profit-taking activities in the market. The gold market once again ended this week in a key price position, testing key support at the original price point of $2,400/ounce. Before that, the price of gold hit a record high this past week, largely due to...
OANDA:XAUUSD fell below its original price of $2,400 on Monday (July 22) as the dollar strengthened slightly, making gold more expensive for holders of other currencies, while markets waited for more data US economists and Federal Reserve officials commented this week to clarify the interest rate cut schedule. According to CME "Fed Watch" data, the probability...
Although market expectations for an interest rate cut by the Federal Reserve in September continued to increase, gold prices remained very volatile and had a significant correction session. Gold prices hit a record high of $2,483 on Wednesday amid positive interest rate cut expectations, but failed to hold on to gains as investors booked profits. This, along...
OANDA:XAUUSD revised down from record highs but growing optimism about the Federal Reserve's interest rate cut in September and a weaker US Dollar still stimulated gold demand. On the economic front, the Federal Reserve's Beige Book survey showed the U.S. economy growing at a modest pace entering the third quarter. The latest edition of the “Beige Book” was...
US President Joe Biden on Sunday abandoned his difficult re-election bid under growing pressure from members of his Democratic Party and endorsed Vice President Kamala Harris to succeed him as party candidate on November 11. Biden will face Republican candidate Trump in the presidential race in the November election. If officially nominated, Harris, 59, will...
Retrace after testing ATHs. Rising wedge into rising wedge. Trend is friend. Huge Weekly printed rectangle, Would like to see an SFP/FA below W Range S/L before entering as buyer.
FX:XAUUSD reacts perfectly to the 2390-2400 area, forming a false breakdown with subsequent growth to 2420, but I am now confused by the extremely low volatility.... The calm before the storm.... Gold is bullish on D1, while the dollar index is showing signs that the price may continue its decline in the medium term. Today at 13:45 GMT it is worth paying...
We take a multi timeframe approach for today's gold analysis video. Taking into account COT data from the weekly chart, support levels on the daily and four-hour charts, we outline our rationale as to why gold could hit new lows after an expected bounce. MS.
So as I stated in my last post, we would have a short range day as per previous large ranged day. We did attack the SSL as target 1 however Im looking at price heading higher to the BSL and 1hr FVG before we head down... Lets see what Asia and early London does.. Will update nearer to NY for Turbo Tuesday...
OANDA:XAUUSD recovered after correcting and testing support at the $2,400 base price point on Monday. At the time this article was completed, gold was trading at 2,430USD/oz, an increase equivalent to 0.31% of more than 7Dollar on the day. Gold price rose for a third straight week but fell short of its daily high as Federal Reserve Chairman Jerome Powell kept...
"Dovish" comments by Federal Reserve officials reinforced market expectations of a US interest rate cut in September. Investors flocked to gold, the safe-haven asset and Gold prices increased further and continuously reached new all-time records. Federal Reserve Chairman Jerome Powell said Monday that recent inflation data has reinforced policymakers' confidence...
Gold (XAUUSD) dipped on Friday below its 4H MA50 (blue trend-line) but that doesn't affect the long-term trend (see chart below), which is still bullish within the 18-month Channel Up pattern: Even on the current 4H time-frame analysis, the price found support right at the bottom of the short-term Channel Up. However, short-term buys can only be confirmed...
Earlier this week, ECB President Christine Lagarde expressed confidence in the euro zone inflation being under control. In contrast, the recently released Fed minutes indicate a negative impact on the committee's confidence in achieving 2% inflation and suggest that it will take more time to recover. The minutes were recorded before the latest US CPI data,...