Fxoverseas

01:49

Fxoverseas

Dxy broken the bullish channel to the down side look for 102.00

Fxoverseas

GOLD TRADE IDEA AND UPDATE DATE 09 JAN 2023 GOLD CURRENTLY INSIDE THE DOWNTREND CHANNEL , STILL BULLISH ON DAILY TIME FRAME The Nonfarm Payrolls report showed the United States created 216K new jobs in December,| while the Unemployment rate held steady at 3.7% according to the US Bureau of Labor Statistics (BLS), both readings beating expectations. Average...

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Gold is still trading within the range 1940s - 1985 and tried to break above 1980 as investors are still looking for safe heaven demand and we had lower volume and volatility this week so far, We have many key import data release today, Gold nearing the 2000's again, which is a key rejection zone from the last weeks and years gold rejected multiple time from...

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Last week on Friday , we saw gold failed to make a new high and fell below 1970, JPY also lose its strength , we saw indices turn bullish, These are the sign that , all banking related fear are now priced in, also the 25 bps hike by FED was already digested by the market , hence we saw dollar ranging starting of the week , As long as we are below 1970, we are...

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Main focus will remain on FOMC rate decision and speech today at 2PM- 2:30PM EST there the maket will decide what going to happen next , A very hawkish tone again or a break on rate hikes supporting the banking crises - Expectations of a 25BP move for tomorrow's meeting as CPI remains far away from 2% macro goal and ECB giving some strong signals of confidence...

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With the Japanese yen giving up its strength, indices failing to make a new lower low and corrected, and gold failed to break above 2010 and dig down to 1970s, it shows that the all banking crises related fear has now priced in and market has already adjusted according to it, We have mixed bias in gold today as market is waiting for new fundamentals and FED's...

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Yesterday we had a new fundamental Catalyst coming to play bringing fear uncertainty and doubt being the Credit Suisse Bank collapse. This is very similar to the situation with svb, except. It's in the Euro Zone a larger financial institution, why this collapse? As we all know after covid, during the money pumping phase the banking institutions, they were all...

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-CPI yesterday came out exactly as conesus on the YoY, MOM and Core YoY. Due to this already being forecasted and priced in. CPI had minimal impact and we had messier markets. Overall though CPI is still at macro high levels YoY (6%), which is 3 times higher than the Feds 2% goal. The fight on inflation is far from over and the Feds will need to stay the course....

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- Yesterday Markets opened up with high volatility and this continued through tNY/NYSE sessions right till markets closed for the day. This volatility was the result of fear among investor caused by the SVB collapse end of last week where we saw shift of investors sentiment in to safe havens like Gold, JPY. DXY being a safe haven was bearish as the SVB fallout...

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Gold failed to make a new low and reversed from 1812.5 Yesterday after bad US data and had a impulsive move to the upside up to 1835 , Today's main focus will be on non farm, wages & unemployment data, If this NFP data unemployment rate and wages data is poor this will be indicating FED pivot & recession scare which can bring some demand to safe heaven gold...

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Yesterday during asian session gold failed to break in to new intraday lows. During NY we had ADP data come out stronger but this did not hold much market weight as price failed to break below 1812.5 and got reversed to 1822. When price just dug in to 1820-22, collected more seller order around 1822 following the sentiment of dollar strnegth. - Economic Data...

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Yesterday J Powell's testimony to congress truly cemented the focus on bringing down inflation towards Fed's 2% goal and keeping financial conditions tight with the possibility of having a higher than previous expected terminal rate for longer as optimistic data shows Higher probability of a 50BP rate hike for the March FOMC meeting after Jerome Powell's...

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Not much has changed since yesterday other than gold creating a new high and rejecting. SHORTTERM TREND: BEARISH OVERALL TREND- bullish, OUR INTRADAY BIAS - Bearish Trade setup - PUllback to 1852 & 1855 Breakbelow 1845 & 1836 sells Deeper Pullback sells - 1865, Break below 1828 safer sells Fundamental Analysis: Slow start to the week as expected as lack...

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We had very low volume and volatility yesterday on Gold as lack of fundamental events. Today we can see some healthy volume as we have ISM non-Manufacturing PMI data with some FED speakers In terms of economic data tomorrow we have: > S&P Global Services and Composite PMI Final. Both of these reports are expected to see sharp rebound from previous (46.8), If...

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Yesterday gold extended the bullish pullbacks that started tuesday after we bounce off the strong demand zone 1800's liq zone and got bad US data. As today was the first day of the new business month, we knew that deeper pullbacks in to better supply zones on the intraday to set up price for the new month was probable ISM manufacturing PMI came out above...

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Trade ideas: -Holds below 1820 sells. -Pullback sells @ 1828 -Break below 1812.5 sells Short term buys if we break 1820 to get in to better sell zone. And on the support 1802. Economic data today. CB CONSUMER CONFIDENCE INDEX RICHMOND MANUFACTURING INDEX

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-Gold traded in the preplanned range this week retest 1833 potential strong zone to collect more sell orders. Economic data overall this week strengthen dollar, which led to price printing new low 1820 . We did not have enough order flow though to print a new intraday low as 1820 is a strong zone. As in our last reports we have mentioned 1820 as strong...

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We had slower volume and volatility at the starting of the week. With the major focus will remain on FOMC minutes, GDP & PCE data, Yesterday we had optimistic PMI data lead to short term impulsive bearish move which feded out too early, and gold is in the same range, We will be still plating dollar strength and gold bearish bias . Trade setup for the...