Hello all dear traders! Prices continue to consolidate around the 2,300 USD area before the news that NFP is about to be released. The fundamental and technical overview is down. What should we expect next? As it is scheduled news today, anything could happen, such as a shake towards 2328 before a further drop to 2250 or an attempt to break trend resistance.. .
The KOG REPORT – FOMC This is our view for FOMC, please do your own research and analysis to make an informed decision on the markets. It is not recommended you try to trade the event if you have less than 6 months trading experience and have a trusted risk strategy in place. The markets are extremely volatile, and these events can cause aggressive swings in...
The $2320 and $2313 target reached ✅, yielding more than 350 pips since yesterday! I hope you took advantage of it! by Reviewing the gold chart, we see that the price started to fall from the $2346 range and has managed to correct down to $2311 with a drop of over 350 pips to this moment! According to the previous analysis, this fall could continue down to $2303,...
Hey Everyone, Please see our daily chart idea that we have been tracking and trading successfully since completing our last daily chart idea. Last week we were seeing price test the updated Goldturn ascending channel top and stated that we were likely to witness either a break above the channel or some resistance and some correctional retracement for a level to...
From yesterday to today, gold has gone through a roller coaster market. Yesterday I said that the price formed an M-shaped pattern after falling at the 2310 resistance level. However, affected by the Federal Reserve's interest rate decision, the gold price suddenly soared from 2385 to the highest point of 2328. However, it fell all the way after encountering...
FX:XAUUSD is in consolidation after the beginning of correction on the background of profit-taking and also strong sell-offs. Technically, the price does not show hints to leave the descending channel in one direction or another, but there are preconditions that indicate that the gold may strengthen to the resistance of the correction channel before further...
Introduction - I am setting up for 16-20 hours per day continuous gold forecasting. I MAY have the demand to start this now, I am not totally sure. I'll find out in a day or two. Let me be clear, if there was ever a time to trade gold, THIS IS OBVIOUSLY THAT TIME. Details - In chart above, this is a slightly modified route vs most recent route from DRAFT...
KOG REPORT: In last week’s KOG Report, we said we would be playing caution on longs where price had closed, and instead would be looking for opportunities to short the market from the given levels and suggested holding any short trades from above. We said we would be looking for them to break below that 2375 region and that would give us opportunities to take...
Gold prices reversed after yesterday's plunge immediately after the US Federal Reserve (Fed) decided to keep the standard interest rate unchanged at 5.25% to 5.5%. Both Fed Chairman Jerome Powell and state Fed officials in the US have expressed reluctance to start cutting interest rates until they are more confident that inflation is on track toward goal 2....
Hello Traders , Upon examining the gold chart in the 1-hour timeframe, we can see that after the price entered the targeted supply zone ($2352), it faced selling pressure and corrected with a drop of 230 pips down to $2328. Now, gold has closed at $2338, and I expect further correction with the market opening, although it’s possible that the price may re-enter the...
Hello Traders , Upon reviewing the gold chart in the 2-hour timeframe, we observe that, as per our primary analysis and expectations, the decline continued and managed to correct down to $2281! As we had marked on the chart two weeks ago, the range of $2268 to $2284 was an important demand zone where we expected the price to show a positive reaction after reaching...
FX:XAUUSD continues to decline and test new local lows. The fundamental background is negative and the decline may continue. Important events are ahead, everyone is waiting for Powell's speech. Bears finally hold the area of strong liquidity 2328, which only intensifies the price decline. At the moment the market is testing 2280. Today is a busy news day....
Gold prices did not skyrocket, holding steady around $2,300 amid trading pre US Non-Farm Payrolls (NFP) report. From a technical standpoint, on the daily chart, gold prices are still trading below the Simple Moving Average (SMA) 20 with no significant changes. Furthermore, longer-term moving averages maintain an upward slope but at a slower pace compared to...
The price of gold dropped to $2,227 following the release of the report on non-farm payrolls and unemployment rate. However, afterwards, gold continued to trade steadily and ended the session around $2,300. While the price remains in a downward trend, there is potential for short-term recovery as it approaches the trendline. Nevertheless, if the price continues...
End of day update from us here at KOG: Yesterday we said we wouldn't be looking to long the market, instead we would want the higher level to be tested so that we could short the market into the highlighted region we had given on the KOG Report. We would love to say we got the perfect short but the market moved early session from the get go, not giving the...
Yesterday, the price of gold soared rapidly due to the impact of the U.S. unemployment rate in April and the seasonally adjusted U.S. non-farm payroll data in April, but the price quickly returned to below the downward trend line. The price still rebounded in the later period, but did not break through the downward trend line. This shows that news events only...
The KOG REPORT – NFP This is our view for NFP, please do your own research and analysis to make an informed decision on the markets. It is not recommended you try to trade the event if you have less than 6 months trading experience and have a trusted risk strategy in place. The markets are extremely volatile, and these events can cause aggressive swings in...
Gold traded below the $2,300 mark during Friday's U.S. trading session following the release of the Nonfarm Payrolls and Unemployment Rate report. However, gold still maintained stability and closed the session around the $2,300 level. On the daily chart, gold continues to show an upward trend, despite dipping to $2,227. Technical indicators are still supportive...