🔸The daily technical setup for Gold prices suggests that a recovery could be imminent before the new downtrend resumes. The 14-day Relative Strength Index (RSI) indicator is deep in oversold territory, warranting caution for Gold sellers. 🔸Failure to find acceptance above the $1,850 barrier could consolidate selling interest around Gold prices. Immediate support...
🔸According to the 4-hour chart, XAU/USD is oversold, however technical indicators continue to be almost vertical and near the intraday low, suggesting selling pressure remains quite strong. 🔸The supportive factor, to a greater extent, is offset by solid expectations that the Federal Reserve (Fed) will maintain its hawkish stance and continue to tighten its...
🔸 Yesterday, the gold price touched 1900 and in the past, the price had reacted very strongly in this area. 🔸 OANDA:XAUUSD is hitting its downside target as selling momentum dries up. 🔸 On the one-hour chart, gold prices hold below the Moving Averages (EMA) of 34 and 89. 🔸 Meanwhile, the Relative Strength Index (RSI) is in the bearish zone below 50,...
🔸The 10-year US Treasury yield regained traction and rose to 4.6%, sending OANDA:XAUUSD lower. 🔸USD hit a new 10-month high and continued to receive support from the longer-term Fed story, combined with the Fund's net selling of Gold, causing The consequences are more serious for Gold. 🔷The price range of 1900$ - 1903$ is quite nice to set up a Sell...
Analysis and strategy OANDA:GBPUSD OANDA:GBPUSD edges higher during the Asian session on Monday amid subdued USD demand. The uncertainty over the Fed's rate-hike path is seen as a key factor undermining the USD. The lack of any meaningful buying warrants some caution for aggressive bullish traders. GBP/USD climbed to a weekly high of 1.2747 on Wednesday...
Strategies and signals TVC:GOLD In his remarks at the Jackson Hole conference, Fed President reiterated his commitment to continue to closely monitor economic data, while leaving the door open to a rate hike. TVC:GOLD prices will hardly receive strong impetus to break out without a significant increase in inflation data or a worsening job market. The yuan...
TVC:GOLD commentary on August 22 : Gold prices consolidate within the range below the 1,902$ mark during the Asian session. Federal Reserve expectations strengthen the US Dollar and limit the upside. Weaker exposure will support and help limit losses to the safe-haven TVC:GOLD . The daily chart of the TVC:GOLD pair shows that the downtrend is still in...
OANDA:XAUUSD The yellow metal posted its best intraday gain in more than two months on Wednesday, tracking the decline in the dollar and Treasury yields after data showed consumer price index inflation ( US CPI) rose less than expected in June. Shows that the Fed's aggressive rate hikes over the past year have paid off and the bank may be easing its hawkish...
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Looking for pullback from last 2 days long action. Short Target: 137.00, 150 pips down from our current location
As long as we hold the 135.14 area (38% fib pullback), we should see another round of sharp, unexpected buying. The projection (black line) shows it will take approximately 2 days to reach our final target, which is about 320 pips from our current location. Everyone has been caught with the Gorgeous Head and Shoulders pattern, until they broke the right...
Market is holding and very reluctant to pullback. This is either the pump before the fall, or there are real buyers in here. If we pop strongly over 135.84, then EUR/JPY retraces and sits on the level, it could signal a "broken" head and shoulders, and in that case, we would initiate long positions.
EUR/JPY shot straight up overnight and hit our 135.77 long target, to reach the apex of the right shoulder build for our Head and Shoulders Pattern. We are short, looking for pullback to 50% to 61.8% fib levels. Also note CCI line cracked to the downside as price is consolidating sideways. Short Target 1: 134.50 Short Target 2: 134.20
Been calling out this level from last week. In short, looking for a quick pullback to around the 134.50's. Will then look for another long signal for possible run back up to 135.70 area.
Pullback worked well and we grabbed around 20 quick pips. Our limit long was picked up and just pulled it for over 60 pips of profit. Noticing bearish divergence here on our 60 Min CCI. Will look for another long entry signal for continuation up to 135.33 target.
Looking for a 5-wave long to complete within slanted yellow parallel lines drawn in last week, for finishing up the build on the right shoulder of the "gorgeous head and shoulders" pattern that is developing. Long now, looking for about 120 pips for wave 3 (in now). Pullback of about 50 pips, then long again for another 100ish pips. Yesterday was a record...
Current move up may stall up at/under 134.60 We have layered longs down to 133.75. Short-term long target is 134.57 , approximately 80 pips up from our current location.