XAUUSD | GOLDSPOT | New perspective | follow-up details
Updated
Gold prices showcased an impressive rally, primarily propelled by mounting geopolitical tensions in the Middle East and the optimism surrounding the Federal Reserve's (Fed) decision to refrain from further interest rate hikes this year. The precious metal exhibited remarkable resilience, bouncing back swiftly from a knee-jerk reaction triggered by the United States Consumer Price Index (CPI) report for September, which revealed higher-than-expected headline inflation, exerting bearish pressure initially on Thursday.
However, gold quickly regained its footing as traders placed their bets on an unchanged interest rate decision by the Fed in its upcoming November monetary policy meeting. This confidence was further bolstered by the CPI's core inflation reading, which softened in line with market expectations.
Adding to the positive sentiment, Philadelphia Fed President Patrick Harker offered a neutral perspective, stating that concerns about persistent inflation were notably absent in recent data. This assurance reinforced the belief that the central bank would maintain the current interest rates, providing a supportive backdrop for gold prices.
XAUUSD Technical Analysis:
In this video, we dissected the XAUUSD chart from a technical standpoint, analyzed the key levels, analyzed historical price moves, market behaviors, and buyer-seller dynamics, and uncovered potential trading opportunities.
The range between the $1,900 and $1,930 zones will remain our center stage for this week. Its historical significance makes it a crucial point. If the bullishullish momentum is sustained then the $1,900 and resistance of the descending channel [on daily timeframe] will serve as platform for new highs. However, if price breakdown/retest the $1,900 we could witness a renewed selling pressure.
Stay tuned for more thrilling updates on the Gold market! Hit the like button if you found this analysis helpful, and don't forget to subscribe for more insightful content! 📺🔔💼
Disclaimer Notice:
Please be aware that margin trading in the foreign exchange market, including commodity trading, CFDs, stocks, and other instruments, carries a high level of risk and may not be suitable for all investors. The content of this speculative material, including all data, is provided by me for educational purposes only and to assist in making independent investment decisions. All information presented here is for reference purposes only, and I do not assume any responsibility for its accuracy.
It is important that you carefully evaluate your investment experience, financial situation, investment objectives, and risk tolerance level. Before making any investment, it is advisable to consult with your independent financial advisor to assess the suitability of your circumstances.
Please note that I cannot guarantee the accuracy of the information provided, and I am not liable for any loss or damage that may directly or indirectly result from the content or the receipt of any instructions or notifications associated with it.
Remember that past performance is not necessarily indicative of future results. Keep this in mind while considering any investment opportunities.
However, gold quickly regained its footing as traders placed their bets on an unchanged interest rate decision by the Fed in its upcoming November monetary policy meeting. This confidence was further bolstered by the CPI's core inflation reading, which softened in line with market expectations.
Adding to the positive sentiment, Philadelphia Fed President Patrick Harker offered a neutral perspective, stating that concerns about persistent inflation were notably absent in recent data. This assurance reinforced the belief that the central bank would maintain the current interest rates, providing a supportive backdrop for gold prices.
XAUUSD Technical Analysis:
In this video, we dissected the XAUUSD chart from a technical standpoint, analyzed the key levels, analyzed historical price moves, market behaviors, and buyer-seller dynamics, and uncovered potential trading opportunities.
The range between the $1,900 and $1,930 zones will remain our center stage for this week. Its historical significance makes it a crucial point. If the bullishullish momentum is sustained then the $1,900 and resistance of the descending channel [on daily timeframe] will serve as platform for new highs. However, if price breakdown/retest the $1,900 we could witness a renewed selling pressure.
Stay tuned for more thrilling updates on the Gold market! Hit the like button if you found this analysis helpful, and don't forget to subscribe for more insightful content! 📺🔔💼
Disclaimer Notice:
Please be aware that margin trading in the foreign exchange market, including commodity trading, CFDs, stocks, and other instruments, carries a high level of risk and may not be suitable for all investors. The content of this speculative material, including all data, is provided by me for educational purposes only and to assist in making independent investment decisions. All information presented here is for reference purposes only, and I do not assume any responsibility for its accuracy.
It is important that you carefully evaluate your investment experience, financial situation, investment objectives, and risk tolerance level. Before making any investment, it is advisable to consult with your independent financial advisor to assess the suitability of your circumstances.
Please note that I cannot guarantee the accuracy of the information provided, and I am not liable for any loss or damage that may directly or indirectly result from the content or the receipt of any instructions or notifications associated with it.
Remember that past performance is not necessarily indicative of future results. Keep this in mind while considering any investment opportunities.
Note
Gold prices have started the new week on a slightly weaker note, retracing from Friday's multi-week high after breaking down the $1,918 level. The big question now is whether this is a retracement of the impulsive bullish move, representing a natural correction after Friday's significant rise, or a sign of an outright sell-off.Investors are treading cautiously, closely analyzing the developments over the weekend, particularly those related to the Middle East conflict. Amidst this uncertainty, I've pinpointed a TP target zone for potential bearish movements, while maintaining a bullish bias toward the overall market structure with the possibility of a breakout above the $1,930 zone still open.
We'll delve into these nuances in great detail during my upcoming Forex Morning Mastery session.
Good Morning
Note
UPDATEFollow-up detail from our just concluded live session this morning
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Descending trendline identified on the 15 minutes timeframeTrade active
#XAUUSDUPDATE
With the breakout of the descending trendline, a potential uptrend continuation has been initiated. As long as the price remains above this trendline, our stance remains bullish, signaling the possibility of further upward movement in the market.
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In the wake of the Israel-Hamas conflict and the likelihood of the Federal Reserve maintaining unchanged interest rates in November, the market's risk sentiment is somewhat positive. Despite price action struggling to capitalize on the rebound from the $1,908 area, there's evident resilience, especially around the $1,915 zone, indicating strong buying presence. I recommend considering closing sell positions or reducing risk, given the challenges sellers face in breaking below $1,915. Our focus today will be on the newly identified trendline; a breakout/retest could signal potential buying opportunities. However, it's essential to remain open to selling possibilities below the trendline while analyzing market dynamics. Additionally, with the upcoming US Retail Sales data during the US market session, we have an added layer of cues to guide our decisions today.Good Morning
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Update and follow-up from our recent Forex Morning Mastery live session. Trade active
UPDATETwo buy positions; secure them now
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The price of gold has been steadily increasing, surpassing $1,935 per ounce during the Asian session. This upward trend can be attributed to the escalating geopolitical tensions between Israel and Hamas, as investors seek the safety of gold, a traditional safe-haven asset.Given the current market conditions, it is advisable to secure positions as four open buy positions are currently yielding around 500 pips in profit. This will allow us to capitalize on potential trading opportunities that may arise in the future.
Today, we eagerly await the release of housing data and speeches from Federal Reserve officials, as these events may provide valuable insights into the future direction of monetary policy.
Good Morning
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Update and follow-up from our recent Forex Morning Mastery live session.Another buy position triggered at the $1,940 level and currently have over 800 pips from five positions; secure positions now
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Gold prices surged on Wednesday, reaching their highest level since early August, around the $1,960 area, driven by escalating tensions in the Middle East. With hawkish Fed expectations, rising US bond yields, and a stronger USD, the rally may be capped. Traders with existing buy positions are advised to secure their positions. For those out of the market, we are on the lookout for new trading opportunities, considering the ongoing bullish sentiment. However, it's essential to remain cautious, as a potential breakdown and retest of the $1,946 zone could trigger a retracement move.Good Morning
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UPDATE
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