Gold, last Friday's non-agricultural benefit was good for gold, once again showing the momentum of an upward breakthrough, and it started to retreat after hitting the highest level near 2004. Unfortunately, this upward wave did not have too much continuity, but the speed of the retreat was also too high. Soon, as the saying goes, the long and short positions in...
- XAUUSD is currently challenging the 1985 area. - If the H1 candle closes below 1985, wait for a pullback and join the downtrend. The target is 1968, with a stop loss set at 2003.
Hello dear friends! ending the trading week with gold, let's recap the past week and discuss the new strategy for the upcoming week with Karina! In general: Last week, gold received several important news, including the Fed's interest rate decision. Despite this, the precious metal has maintained its strong upward trend, trading around $1985 per ounce last...
– Previous Weekly candle closed small Bearish at 1992.500 forming Weekly Resistance around 2006.200, Friday Daily candle closed small Bullish forming a Rejection wick to the upside. – Buys on close above 1995.300 targeting 4h Resistance around 2000.500, Leaving Runners to the Daily Resistance formed on Tuesday 31st October 2023 around 2006.200. – Sells on close...
Dear ZTraders, A decline in mortgage rates, a higher probability of interest rate cuts, and geopolitical tension can collectively contribute to an increase in the price of gold due to several interrelated factors: Inverse Relationship with Interest Rates: Gold tends to have an inverse relationship with interest rates. When mortgage rates are declining and there...
Gold closed on Friday 1992, now looking to move up the range to 1990-2010, next week focus on whether gold can stand above 1990! If you are confused about trading, please join me, I believe you will have a great harvest!
The OANDA:XAUUSD bid into an intraday high just shy of $2,005 on Friday following the worst read on US Nonfarm Payrolls (NFP) in almost 3 years, but Gold bids recovered to the midrange of the day's trading to finish up near $1,992.50. The US NFP report missed expectations, showing the US added only 150 thousand jobs in October compared to September's bumper...
An economic deceleration in the United States is foreseen in the coming quarter, which could lead to adjusted monetary forecasts. As we transition into 2024, a short-term dip in the U.S. economic curve is predicted before the Fed is expected to ease policies in the upcoming summer. This could result in the depreciation of the U.S. dollar, but it is unlikely to...
HSBC has launched an innovative platform using Distributed Ledger Technology (DLT) to tokenize the physical gold of institutional clients stored in its London vault. This platform enables the trading of digital tokens, each representing 0.001 troy ounces of customer-held gold, fostering a response to the increasing demand for real-world tokenization, according to...
Today, gold did not fluctuate much before the data appeared. When the data became positive across the board, gold once rose to near 2003. We continuously shorted at this position and chose to close the position in 1996, finding that gold did not have a rebound trend, so we continued to sell in 1996, and finally closed all orders near 1988. Congratulations again...
Dear colleagues, I forecast that the price will continue its upward movement to the resistance area of 2003.6. It is quite possible that the whole upward movement is wave 1 of higher order. I expect to update the maximum and then I will draw wave 1, then I will wait for the correction. Manage your capital correctly and competently! Only enter trades based on...
KOG Report: In last weeks KOG Report we said we would be looking for the higher level of 2015 to be completed. Based on the structure of the chart, we suggested that if we opened with a bearish set up, we would be looking for short trades into the 1990-95 level, and below that that 1975 price point. We then said if support holds below, we would be looking to...
WARNING - This is a follow up of previous work. As a precaution, the first rule of trading is don't lose money. As a reminder, the second rule of trading is don't forget the first rule. As usual, this is meant to supplement - not replace - your trading discipline and risk management. As always, when price moves against forecasts and the next one is not posted,...
By examining the USD/JPY chart , we see that the price in the Daily time frame has finally reached its highest price level in the last year, of course, before that high, the last time the price was traded in this range was in the year 1990, So we see that the value of the Japanese yen compared to U.S dollar has reached its lowest level in the last 33 years! Now,...
Last Friday, I also informed everyone to enter the market and go long around 1980-1975, and also told the final TP price from 2000-2010. Looking at this week, if you want to wait for the market to start, you will definitely have to wait until the second half of the week. Because this week will usher in the release of ADP data and non-farm employment data, it...
Hey Traders, in tomorrow's trading session we are monitoring XAUUSD for a buying opportunity around 1976 zone, XAUUSD is trading in an uptrend and currently is in a correction phase in which it is approaching the trend at 1976 support and resistance. Trade safe, Joe.
Before the release of employment data, a report showed that U.S. labor productivity had its largest increase in three years, helping to alleviate the inflationary impact of recent wage growth.The number of people applying for unemployment benefits rose for the sixth consecutive week, indicating that it is beginning to be more difficult for the unemployed to find...
Looking at the chart of GOLD right now we are seeing some interesting price action on the lower timeframes. Thus a local move down seems to be quite likely. ❤️ Please, support our work with like & comment! ❤️