🔸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 $1,850 barrier could consolidate selling interest around Gold prices. Immediate support...
🔸According to the 4-hour chart, XAU/USD is oversold, however technical indicators continue to be almost vertical and near the intraday low, suggesting selling pressure remains quite strong. 🔸The supportive factor, to a greater extent, is offset by solid expectations that the Federal Reserve (Fed) will maintain its hawkish stance and continue to tighten its...
🔸The 10-year US Treasury yield regained traction and rose to 4.6%, sending OANDA:XAUUSD lower. 🔸USD hit a new 10-month high and continued to receive support from the longer-term Fed story, combined with the Fund's net selling of Gold, causing The consequences are more serious for Gold. 🔷The price range of 1900$ - 1903$ is quite nice to set up a Sell...
Forecasting and strategy TVC:GOLD : Gold price portrays the routine consolidation ahead of the United States Nonfarm Payrolls (NFP) while easing to 1,940$ amid the early hours of Friday, after reversing from the highest level in a month the previous day. In the near term, and according to the 4-hour chart, the risk skews to the downside. Technical indicators...
Signals and strategies TVC:GOLD Gold is on track to recover from losses recorded in the previous four weeks ahead of a speech by US Federal Reserve Chairman at the Jackson Hole Symposium. The precious metal has shown resistance despite the improvement of the US Dollar (USD). US Dollar (USD) rally boosted by moderate US jobs data, keeps market sentiment...
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...
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 prices fell slightly on the first day of a new week and partially eroded Friday's positive move. The more hawkish outlook of major central banks puts downward pressure on XAU/USD. Hoping that the Fed will end its rate hike cycle soon could help limit further losses for the precious metal. On the downside, bullish technicals will continue 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 $1980 will bring control to the bulls. Support levels: 1,942 1,932 1.915 Resistances: 1,953 1,966 1,974 The main...
OANDA:EURUSD 24-Hour View: Yesterday, we noted that “current price action could be part of a consolidation phase” and we expect EUR to trade sideways between 1, 1190 to 1.1250. Our view on sideways trading is not wrong, although EUR trades in a narrower-than-expected range (1.1202/1.12448). We continue to expect EUR to trade sideways. However, the underlying...
OANDA:EURJPY The EUR/JPY pair remains steady, close to the 154.50 area at the start of the European session., the crossover is below the 100 Hourly Exponential Moving Average (EMA) with a downward slope, indicating the line Going with least resistance is going down. According to the one-hour chart, EUR/JPY will hit an initial support of 153.45 (July 12 low) en...
TVC:GOLD GOLD trades at the highest level in almost a month and the daily chart shows that the bulls have regained control of the bright metal. Gold is currently growing above the slight upside of the 100 Simple Moving Average (SMA), at 1,950$. In the near term, and according to the 4-hour chart, the bright metal is looking overbought, but as it puts pressure...
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...
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...
OANDA:XAUUSD The US economy remains resilient allowing the Fed to continue raising interest rates. XAU/USD is down for a second day in a row, though it managed to bounce off the aforementioned lows and trade around $1,190. Technical indicators exhibit moderate to bearish slopes in negative levels, maintaining downside risk. In the short term, the bears have...
OANDA:XAUUSD With the authorities' uneasy mood, the more hawkish the Fed is, the more opportunities there are for the US Dollar to rise. In general, the risk is tilted to the downside, the downside will be stronger when Gold slides below the $1890 price zone. Technical indicators continue to lose bullish strength in positive levels, currently approaching their...
TVC:GOLD Gold prices regained some positive traction on Thursday and partially recovered overnight losses. The overall weaker risk bias favors the safe-haven GOLD, although the upside looks limited. The major hawkish central banks can prevent the bulls from betting heavily on the metal. Gold prices came under pressure in the second half of Wednesday, with GOLD...