Gold is bullish on the 1D technical outlook (RSI = 62.834, MACD = 24.030, ADX = 26.032) and on the 4H formed the first Golden Cross since February 28th. Last time this sparked a very aggressive rise with the 4H supporting. We are targeting the top of the long term Channel Up (TP = 2,500). ## If you like our free content follow our profile to get more daily...
Gold rebounded today relying on support near 2332, and the European market rebounded to around 2348. At present, the long and short positions are not very clear. 2355 is the key and watershed. The short-term trend is somewhat strong, and there may be an upward impact test in the evening. At the top, focus on the key watershed of 2355, and on the bottom, focus on...
#XAUUSD 5/16/2024 Today gold reached the 2395-2398 area I mentioned earlier. Then it fell to around 2380. Yesterday's CPI data took advantage of buying gold. So yesterday's gold rally was strong. We still can't oversell gold today. If the gold price pulls back, then we can buy gold Of course, there’s also dollar news today: Thursday’s unemployment claims...
XAU-USD was trading below The falling resistance But now we are seeing A bullish breakout so I am now locally bullish Bias and I think that we Will see a further move up !
16th May DXY: Retracing, needs to stay below 104.50. If support 103.990 broken, could trade down to 103.40 NZDUSD: Buy 0.6145 SL 20 TP 70 (Hesitation at 0.6180) AUDUSD: Sell 0.6710 SL 25 TP 50 USDJPY: Sell 153.55 SL 35 TP 75 GBPUSD: Sell 1.2655 SL 30 TP 80 (DXY recovery) EURUSD: Buy 1.09 SL 30 TP 70 (DXY weakness) Sell 1.0850 SL 30 TP 60 (DXY recovery)...
After the gold rally up, we find ourselves in a bearish pressure. Price Action is observed, this is only a trade idea.Use proper risk management. Happy Trading
U.S. consumer prices rose less than expected in April, suggesting inflation resumed its downward trend at the start of the second quarter, boosting financial market expectations for a September interest rate cut. At the same time, under the influence of the market, the US dollar fell sharply, providing greater impetus to gold’s rise. Today, we will pay attention...
Gold ended the week higher after a late rally on Thursday and Friday. It had initially pulled back from its all-time high due to trendline resistance. The precious metal is expected to react to the latest US inflation data, which affects Treasury yields, interest rate expectations, and the US dollar. Gold bulls are hopeful that softer CPI data will drive the metal...
In the gold market, the most commonly extended wave is wave 5. IMHO this chart most accurately gives a path. Chart pattern on weekly. I really like using higher time frames. DXY ( U.S. Dollar Index)
On Wednesday, the price of gold (XAU/USD) saw an upward trajectory following the release of notable economic data. Specifically, the US Consumer Price Index (CPI) and Retail Sales data for April came in lower than economists' expectations. This unexpected downturn in economic indicators has led to speculation that the Federal Reserve (Fed) may take measures to cut...
According to the investigations conducted in the gold symbol, we have readiness for a long position at the price of 2311
Based on the H4 chart analysis, we can see that the price is currently at our sell entry at 2359, pullback support close to 61.8% Fibo retracement Our take profit will be at 2346, a pullback support The stop loss will be placed at 2372, which is a swing-high resistance. High Risk Investment Warning Trading Forex/CFDs on margin carries a high level of risk...
OANDA:XAUUSD remains weak on the recovery of the US Dollar and the release of the US Producer Price Index (PPI) and Consumer Price Index (CPI) later this week will be the focus of market attention. Traders need to prepare for a busy period of economic data and events in the United States (US), which will include inflation data, retail sales data and a speech...
In fact, everyone should have noticed that the market this week is too boring. Gold currently continues to fluctuate in the range of 2320-2307. This gives many people who trade gold a headache. So what will be the short-term trend of gold? This is a point of concern for many gold traders. Combined with the picture above, the market is currently in the stage of...
Based on the M15 chart analysis, we can see that the price has just reacted off our sell entry at 2390, which is an overlap resistance that aligns with the 38.2% Fibonacci retracement Our take profit will be at 2378.60, a pullback support level that aligns with the 38.2% Fibonacci retracement The stop loss will be placed at 2402, High Risk Investment...
💥 GOLD information World gold prices decreased with spot gold down 27.2 USD to 2,335.7 USD/ounce. Gold futures last traded at 2,342.2 USD/ounce, down 32.8 USD compared to yesterday morning. Short-term futures traders rushed to book profits after recent gains put pressure on the yellow metal in early trading of the week. Meanwhile, the market is still waiting for...
In his speech in Amsterdam, US Federal Reserve Chairman Jerome Powell said that inflation is still high and the Fed will have to spend more time in this fight. He said the Fed will maintain restrictive monetary policy until inflation falls to its 2% target. Marex analyst Edward Meir said that the fact that Fed Chairman Jerome Powell did not signal a rise in...
Hello traders, we want to check the XAUUSD chart. The price has broken the descending channel upwards and pulled back to the indicated support level. We expect the price to maintain its upward trend and grow up to around 2398. Good luck.