The price of gold has surged to historic highs, reaching around $2170 fueled by a robust bullish rally, with little room for a retracement to catch its breath. However, indicators are signaling an overbought condition, suggesting a potential retracement or pullback in price. Central bank policymakers' dovish commentary has provided tailwinds for the yellow metal....
Gold broke and closed above the ATH level yesterday. Retesting the broken structure today, the price started to consolidate within a horizontal range on a 4H. Bullish breakout of the resistance of the range is one more strong bullish confirmation. We can expect a further growth now at least to 2185 ❤️Please, support my work with like, thank you!❤️
Preferred direction: BUY Comment: Despite the local strengthening of the Japanese yen , this currency pair is still considered more favorable to the buyer, especially in the long term. All events within the specified prospects will develop around level 150 and above. As for shorter-term prospects, it is also unlikely that the instrument will go down towards...
Preferred direction: SELL Comment: The Australian dollar is also expected to undergo a downward correction, as we suppose. Against the background of today's NFP , the instrument may even grow towards the level of 0.66659 , but in the medium term, it is unlikely that the buyer will be able to gain a foothold. Perhaps not today, then at the beginning of next...
Preferred direction: SELL Comment: As part of the upcoming strengthening of the American currency , as well as the upcoming NFP , we expect a fall in the GBPUSD currency pair. At the moment, the process of eliminating sellers is being completed, and in the very near future, the market will begin to actively buy at market prices. Thus, this will provide an...
Preferred direction: SELL Comment: Our previous setups for currency pairs worked out perfectly, especially EURUSD . On the eve of the NFP , as well as for gold, we expect a fall in the euro. At the time of publication, the instrument may strengthen towards the level of 1.10000 ( scenario №2 ), so one should count on this in any case. At the moment, ...
Preferred direction: SELL Comment: By the end of the week, all long trades on metals have been fixed, and on the eve of the NFP , we expect a fall in gold . It should be noted that a slight increase is still possible even without the NFP data, where, against the background of volatility, the price may rise above the current new historical maximum....
🔖XAU/USD, H4🔖 8 March 2024 Gold prices are sustaining their bullish rally and are currently testing another resistance level at the $2160 mark. The surge in gold prices is primarily attributed to the weakening of the dollar, influenced by the dovish message delivered by Jerome Powell during the testimony. However, the prevailing optimism in equity markets and the...
In terms of gold, not only did the daily line continue to close in positive territory, but even the hourly line did not adjust, it just continued to hit highs. Therefore, the importance of trends must be recognized at this stage. Especially in yesterday’s form, there are several technical points that need to be considered: 1. It rose and broke through the high...
Gold prices (XAU/USD) have capitalized on recent momentum, touching a new record high around $2,152 on Wednesday. This surge came amid expectations of an imminent policy shift by the Federal Reserve. Fed Chair Jerome Powell's comments bolstered these expectations, indicating a potential cut in benchmark interest rates by year's end. However, Minneapolis Fed...
On the hourly timeframe, gold has formed a rising wedge pattern, suggesting a possible downward movement from its recent peak near $2160. Additionally, there's a distinct gap below $2120 indicating an imbalance that necessitates a retracement to fill it. This retracement is likely to target levels around 50% to 61% on the Fibonacci retracement scale.
Gold has experienced remarkable growth lately following a breakout in the supply zone. The impulses have completed the 5th wave, signaling a potential downward shift, especially with the anticipation of positive NFP data. We foresee a retracement towards the highlighted supply zone, notably around the $2080 mark, a significant price level. Testing both the upper...
– Thursday Daily candle closed Bullish for 7th day in a row. I’ll be looking for potential Buys above 2165.000 targeting Key Level point around 2175.000 and next Key Level point around 2185.000. I’ll be looking for potential Sells below 2152.700 targeting 1h Strong Support around 2144.700 and next 30min Support formed around 2138.700. High Impact News ahead of the...
Yet another very strong Daily close on Gold. DOL is Thursdays high. I want to see h1 bullish arrays respected to then look for M5 bullish displacement for long entry.
Gold's ( TVC:GOLD ) rally has propelled it to an unprecedented price of $2,164.78, buoyed by expectations of easing policies from both the European Central Bank (ECB) and the Federal Reserve (Fed). Despite the ECB's hawkish hold, ECB President Christine Lagarde's openness to June adjustments contrasts with the rising US Treasury yields. On the other hand, Fed...
I'm just thinking about possible scenarios for gold. what do you think ? I think we have a lot of room for correction, so I will look for a pull back sooner. Just my options.
H4 Analysis: -> Swing: Bullish. -> Internal: Bullish. Price has printed a swing BOS and subsequently a bearish CHoCH which is the first structural indication, but not confirmation that bearish pullback is underway. Expectation is for price to pullback to H4 POI or 50% EQ before targeting internal high. H4 Chart: M15 Analysis: -> Swing: Bullish. ->...
Hey Everyone, Following on from yesterdays update another PIP-TASTIC day on the chart for us, with our bullish targets being hit with confirmation, to give us plenty of time to get in for the action. After completing yesterdays targets, we advised of the ema5 break and lock above 2143 opening, 2153, 2159 and potentially 2167 if momentum allows. Today we got the...