Hi Team , welcome back..
Today there isn't much to talk about and sorry guys have been offline lately but as indicated last week after the RAMADHAN is over then will be back full force.
Meanwhile today we seem all bearish all our time frames are falling, but apart from all this we should as well consider the market change, that is an uptrend coz the market has and always will be heading both directions, as far as i'm concerned we are having a waterfall for today, i saw this fall a week back and finally know that the fall is here, so let's gear up and be ready.
First and foremost for our fall to be confirmed we need to see $2008 broken, once it's broken then $1977 and $1950 are my take profit zones, this means we will be running down rapidly, however when we break $2032 then this is a caution for us all, meaning that
we could be going up instead of down.
Anyways we have the NFP NEWS coming soon so let's be cautious with our buy entries, so far there is so much that has happened and below is just a few of the updates.
KEY POINTS:
Friday's U.S. non-farm payrolls awaited
Gold up 2.2% so far this week
U.S. dollar up 0.2%
Gold prices slipped from one-year highs on Thursday as the dollar regained some ground, while investors awaited the U.S. non-farm payrolls report to gauge the Federal Reserve's monetary policy strategy.
GOLD was down 0.5% at $2,011.18 per ounce, as of 0334 GMT, after hitting its highest since March 2022 on Wednesday. U.S. gold futures
GOLD fell 0.4% to $2,028.40.
The dollar index
DXY rose 0.2%, making bullion expensive for overseas buyers.
"This is a market due for some technical correction because the rally was very sharp," said Ajay Kedia, director at Kedia Commodities in Mumbai.
The economic data points this week were major components supporting gold prices, he added, while also noting some profit-booking ahead of the Good Friday holiday.
Bullion has gained about 2.2% so far this week, after a surprise oil output cut by OPEC+ and weak U.S. economic data over the week added to fears of an economic slowdown and sent the yellow metal soaring above $2,000.
Wednesday's data showed the U.S. services sector slowed more than expected in March. Separate data showed private sector job adds fell well short of expectations.
Investors now await Friday's non-farm payrolls report for March.
While gold is traditionally considered a hedge against inflation and economic uncertainties, higher interest rates dim non-yielding bullion's appeal.
Markets see a 53.8% chance of the Fed standing pat on interest rates in May, according to CME's FedWatch tool. Cleveland Federal Reserve Bank President Loretta Mester said it was too early to know if the Fed would need to raise interest rates at its May policy meeting.
"The gold trade is getting a bit overcrowded but the macro backdrop still strongly remains firmly in its favor," Edward Moya, a senior market analyst at OANDA, said in a note, and added that gold's immediate resistance is at the $2,050 level.
So let's be on the look out and trade with extra caution, all entries you make should and must be precise plus your RISK MANAGEMENT INSTINCTS should as well be activated, we are about to have a hell of a ride.
That's all for now and until then DO WISH you all a lovely and wonderful day ahead, i'll be updating as the market unfolds!
Today there isn't much to talk about and sorry guys have been offline lately but as indicated last week after the RAMADHAN is over then will be back full force.
Meanwhile today we seem all bearish all our time frames are falling, but apart from all this we should as well consider the market change, that is an uptrend coz the market has and always will be heading both directions, as far as i'm concerned we are having a waterfall for today, i saw this fall a week back and finally know that the fall is here, so let's gear up and be ready.
First and foremost for our fall to be confirmed we need to see $2008 broken, once it's broken then $1977 and $1950 are my take profit zones, this means we will be running down rapidly, however when we break $2032 then this is a caution for us all, meaning that
we could be going up instead of down.
Anyways we have the NFP NEWS coming soon so let's be cautious with our buy entries, so far there is so much that has happened and below is just a few of the updates.
KEY POINTS:
Friday's U.S. non-farm payrolls awaited
Gold up 2.2% so far this week
U.S. dollar up 0.2%
Gold prices slipped from one-year highs on Thursday as the dollar regained some ground, while investors awaited the U.S. non-farm payrolls report to gauge the Federal Reserve's monetary policy strategy.
GOLD was down 0.5% at $2,011.18 per ounce, as of 0334 GMT, after hitting its highest since March 2022 on Wednesday. U.S. gold futures
GOLD fell 0.4% to $2,028.40.
The dollar index
DXY rose 0.2%, making bullion expensive for overseas buyers.
"This is a market due for some technical correction because the rally was very sharp," said Ajay Kedia, director at Kedia Commodities in Mumbai.
The economic data points this week were major components supporting gold prices, he added, while also noting some profit-booking ahead of the Good Friday holiday.
Bullion has gained about 2.2% so far this week, after a surprise oil output cut by OPEC+ and weak U.S. economic data over the week added to fears of an economic slowdown and sent the yellow metal soaring above $2,000.
Wednesday's data showed the U.S. services sector slowed more than expected in March. Separate data showed private sector job adds fell well short of expectations.
Investors now await Friday's non-farm payrolls report for March.
While gold is traditionally considered a hedge against inflation and economic uncertainties, higher interest rates dim non-yielding bullion's appeal.
Markets see a 53.8% chance of the Fed standing pat on interest rates in May, according to CME's FedWatch tool. Cleveland Federal Reserve Bank President Loretta Mester said it was too early to know if the Fed would need to raise interest rates at its May policy meeting.
"The gold trade is getting a bit overcrowded but the macro backdrop still strongly remains firmly in its favor," Edward Moya, a senior market analyst at OANDA, said in a note, and added that gold's immediate resistance is at the $2,050 level.
So let's be on the look out and trade with extra caution, all entries you make should and must be precise plus your RISK MANAGEMENT INSTINCTS should as well be activated, we are about to have a hell of a ride.
That's all for now and until then DO WISH you all a lovely and wonderful day ahead, i'll be updating as the market unfolds!
Note
Guys be ready gear up, we up for a ride during the evening hours, SET up and be ready.Note
Hi team sorry have been very busy, anyways we did break $2008 then we saw a retest , we've just broken it again right now, we could see another retest and then our fall continues, meanwhile everything is going per my analysis earlier and yes i'm having another blind sell entry without any analysis that is, although i did have some entries earlier which are currently running profits! For our brothers in the other faith do wish you all a happy holly day, see you tomorrow.
Note
Hi team, hope you've all been well, sorry this happens to be the longest holiday i have encountered anyways i'm in for the updates, sure the market is closed i have the same expectations on gold, some trades are floating in blue and yes do have some floating in red but soon they'll catch up.Anyways i'm for the updates and usually it's on gold but tonight i made it a bit different, have been trying to analyze the whole market and do have some pairs i would like you to look into.
On 12th April EUR/USD around 12P.M will have some spikes due to US CPI reports, on the same date USD/CAD will also be having some spikes mainly from 2 P.M due the BOC Monetary Policy Reports and lastly EUR/USD at around 6P.M also due to the FOMC Meeting Minutes, TRADE these pairs with caution and yes there will be plenty of opportunities.
On 13th of this month AUD/USD at around 1A.m will be experiencing some spikes due to the Australia Employment Change, the same applies with GBP/USD due to the UK GDP this should be around 6 A.M and EUR/USD at around 12 P.M due to the US PPI Reports.
On 14th April trade UER/USD from 12 P.M due to the US Retail Sales.
These are big opportunities to grow your accounts but at the same time they could be risky if you have no idea of what your doing, my suggestion is identify the support and resistance levels on these pairs, add symmetrical triangles, either descending or ascending and trade with caution. you can as well apply the rectangle strategy.
Look for the candle pressure and be on the look out, i myself will be mainly on EUR/USD and my favorite pair XAU/USD the other pairs should be just a by the way.
Hope you all are having an amazing holiday and that's all for now see you on Tuesday.
Note
As indicated earlier i had some entries floating in blue while others floating in red, as i'm typing all my entries are in blue and heading down although i see a retest to 
1997 but after the retest then our fall should continue mainly looking at 1950 as my first take profit zone.For those who can take entries then kindly consider the retest first to
1997 then have your entries on this level aim for 1950-55 lot size depends on your equity, if you have more than 
1000 then you could take two entries of 0.10 lot each, then forget about the entries go and sleep, wait for tomorrow for your collection.Note
HI Team hope you all well, as indicated in my last comment was expecting a retest before a fall, but as of now we did break the retest zones and continued even further, so there's been somehow change of plan, we are now anticipating for previous resistance at around 
2030-35 although it seems like an impossible run right now, but we are in for the certain run.My thinking made it easier to that level but my analysis even proves we might extend further up to around
2100 yeah this is very possible after considering a few things, so let's take the run up for those who can right now, for those who can't stay tuned soon will have our traps set and ready for collection.Until then do wish you all a wonderful and blessed day ahead.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.