Plan for August 23 TVC:GOLD TVC:GOLD prices slightly extended its gains and successfully continued a third day of gains. TVC:GOLD hovers around 1,900$ during the Asian session on Wednesday, showing signs of recovery from four consecutive weeks of losses despite a firmer US Dollar (USD). However, a stronger recovery is unlikely at the moment. The...
Analysis and strategy OANDA:EURUSD In the 24-hour timeframe: Yesterday, I expected EUR to trade in the 1.0870/1.0915 range. We didn't anticipate the spike in volatility. After rising to a high of 1.0930, EUR plummeted to a low of 1.0831 and then closed at 1.0844 (-0.44%). The rapid decline has regained momentum and EUR is likely to weaken further today. A...
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:GBPJPY GBP/JPY retreats from intraday highs as it struggles to defend its first daily gain in four hours in the early London open hours on Monday, paying slightly near 181.00 by press time. With this, the GBP/JPY pair breaks through the 21-day Exponential Moving Average (EMA) barrier around 181.30. That said, bearish MACD signals and concerns about UK...
TVC:GOLD Gold price remains slightly bullish as it consolidates previous losses amid positioning ahead of NFP. Also allowing Gold to maintain a light bid are headlines showing China stimulus and US Treasury yields falling from their highest levels since November 2022. It's worth noting the active signals The recent mixed US employment and activity has been...
OANDA:XAUUSD Late Tuesday, ratings agency Fitch downgraded the top U.S. government credit rating to AA+ from AAA, citing the risk of a financial recession over the next three years. The US dollar partially reversed earlier gains and tracked fresh weakness in US Treasury yields, providing some support for gold prices early Wednesday. The greenback failed to...
OANDA:XAUUSD Gold is hovering around the 20-Day Simple Moving Average, at $1945. A clear daily close below will add to the negative outlook. Conversely, if it tries to sustain above, XAU/USD might continue to move sideways. A solid break above $1980 will bring control to the bulls. Support levels: 1,942 1,932 1.915 Resistances: 1,953 1,966 1,974 The main...
Gold rose to 3-week highs, sometimes reaching close to the level of 1,940 USD/ounce. Index DXY (measures the volatility of the greenback against a basket of six major currencies) fell from 103 points last week to 101.49 points. The USD index fell near a two-month low. A weaker dollar is supporting the precious metal's gains, as the Fed seems to signal that it is...
TVC:GOLD Gold prices struggled to capitalize on modest overnight gains from the vicinity of 1,900$, or weekly lows, and remained on the defensive throughout Friday's Asian session. GOLD is now trading around the 1910$ region, mostly unchanged on the day, and looks vulnerable to an extension in the two-month downtrend from all-time highs touched in May. From a...
TVC:GOLD The US central bank has signaled that borrowing costs could still rise by as much as 50 basis points by the end of the year. Adding to that, upbeat US macro data due out on Thursday and Fed statement continued to push US Treasury yields higher and support the USD. The USD Index (DXY) climbs to a new two-week high. However, it remains to be seen...
TVC:GOLD Gold prices failed to attract any buyers or rose overnight from multi-month lows. The big belligerent central banks continue to act like a headwind on unprofitable commodities. The US Dollar stands at highs near two-week highs and also contributes to the limitation of GOLD. Technical indicators on the 4-hour chart suggest more consolidation, as long as...
TVC:GOLD Gold prices exhibited a corrective rally to a three-month low, marked the previous day, as it retested an intraday high around 1,912$ early Thursday in Asia. GOLD consolidates the latest losses even as central banks defend the trend toward “higher for longer” interest rates. GOLD is currently hovering around 1,912$ and maintains a bearish view with a...
TVC:GOLD Gold prices started the week on a positive note and looks set to bounce slightly on Friday from the 1,915$ region, or the lowest since March 16. GOLD trades around the 1,930$ region. , up nearly 0.35% on the day, despite lack of follow-up and still below the 100-day SMA. Gold price demonstrated a severe decline after breaking out of the Descending...
TVC:GOLD Gold price is seen consolidating its recent downfall to over a three-month low. A hawkish outlook by major central banks acts as a headwind for the commodity. The US Dollar preserves the overnight recovery gains and contributes to cap. The 4-hour chart reflects sellers' strength. Technical indicators present firmly bearish slopes near oversold readings,...
TVC:GOLD Gold price is consistently defending the horizontal support of a Descending Triangle chart pattern formed on a two-hour scale, set from the May 30 low at 1,930$. The downward sloping trendline of the aforementioned chart pattern is drawn from the June 2 high of 1970$. The 200-period exponential moving average (EMA) at 1,950$ is acting as a barrier for...
TVC:GOLD Gold lacks any solid direction on the day, moving sideways around 1950$ area Gold prices struggled to capitalize on modest intraday gains and traded in a tight range during the first half of the Asian session on Tuesday. GOLD trades around 1,950$, mostly unchanged on the day and well maintained within a familiar trading range held for about a...
TVC:GOLD Gold Price jostles with a convergence of the 50, 100 and 200 Exponential Moving Averages (EMAs), not to forget the 50% Fibonacci retracement of its June 02-15 downside, near 1,955$-1954$. In doing so, the XAU/USD extends the previous pullback from a fortnight-old descending resistance line, around 1,965$ by the press time, amid bearish MACD...
TVC:GOLD From a technical perspective, some selling below the daily low, around the 1,935 area, would be seen as fresh trigger for bearish traders. Gold price could then accelerate its decline towards the 1,918$-1.920$ intermediate support before finally dropping to the $1,910 circular mark. On the downside, the 1,945$-1,950$ area is likely to act as an...