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Will Gold Hold Support or Break Lower? OANDA:XAUUSD 30-Min Chart Analysis Potential Scenarios Bullish Scenario: • Volume Bullish Divergence: Indicating a potential reversal if buying pressure continues. • Strong Support: Price is near a key support level, which may hold and prompt an upward move. • Falling Broadening Wedge: A potential bullish reversal pattern. If confirmed, this could lead to a breakout. Bearish Scenario: • If price breaks below the current channel, the next target could be 2656, with a possible further decline toward 2617 if selling pressure persists. Key Levels to Watch: • 2695 • 2700 • 2702 • 2710 As always, follow your risk management plan. Good luck, and happy trading!
OANDA:XAUUSDLong
by SpicyPips
1
Market 101:From the Drama King VIX to the Steady Eddie UtilitiesVolatility Index (VIX) - The Drama King Let’s kick things off with the Volatility Index, aka the market’s drama king. It’s like that one friend who always makes a big deal out of nothing—spiking dramatically whenever the market so much as sneezes. Recently, it shot up faster than a caffeine-fueled trader on Monday morning, but now it’s calming down a bit, hovering around 20.73. Keep an eye on this guy—he’s always a sign of market anxiety like I said, the the fear gauge. If he starts climbing again, it might be time to batten down the hatches. Utilities Sector (XLU) - The Steady Eddie Moving on to the Utilities sector, which is the market’s equivalent of your reliable, always-on-time friend. XLU has been climbing steadily, but just like every other reliable person, it needs a break sometimes. It’s currently chilling around 76.20, looking like it’s taking a well-deserved breather. Nothing too exciting here, but that’s exactly what you want from Utilities—slow and steady wins the race. ARK Innovation ETF (ARKK) - The Wild Child Now, let’s talk about ARKK—Cathie Wood’s wild child. This chart is like a rollercoaster at an amusement park: up, down, up, down, and sometimes you’re not sure if you should scream or cheer. After some wild moves, ARKK is sitting around 42.98, but don’t be surprised if it decides to take another loop-de-loop soon. Just remember to strap in and hold on tight. Technology Sector (XLK) - The Overachiever Next up, the Technology sector, which has been the market’s overachiever for quite some time. XLK had been climbing like it’s trying to win the market’s gold star, but recently it’s hit a bit of a speed bump, pulling back to 210.28. No worries though—this sector is like that student who’s always doing extra credit. It’ll likely bounce back in no time, probably while giving the rest of the market a lesson in resilience. Consumer Discretionary Sector (XLY) - The Big Spender Finally, we’ve got the Consumer Discretionary sector, which is the market’s big spender. XLY has been on a shopping spree, but it looks like it might be hitting the credit limit soon. The chart shows some clear support around 184.61, but if it breaks below this, we might see some belt-tightening ahead. Keep an eye on it—everyone loves a spender until the bill comes due. Summary: From the dramatic spikes of the VIX to the steady climb of Utilities, each of these charts has its own personality. Whether you’re dealing with the rollercoaster that is ARKK or the disciplined overachiever in Technology, there’s always something to learn from the market’s diverse cast of characters. Stay sharp, keep your sense of humour and energy, and remember: in the markets, as in life, it’s all about balance.
SP:SPX
by Deno_Trading
Is BTC about to rise?Looking at the daily line on the left, we can clearly see that BTC is coming out of a potential double top structure. Then it fell below the neckline around July 4th to 5th. But in the next few days, it turned into a bottom flip and the double top failed. And looking at the perimeter on the right The short-term EMA did not fall below the medium-term EMA At the same time, the trading volume in these two weeks was significantly lower than the trading volume in the previous rise. But it can pull the price up from the panic and short sentiment in the market. So I think this is the main force in the market cleaning up the retail investors who entered the market in the last wave. and allow them to get more chips At the same time you can see there is quite a lot of buying around 59000 Therefore, I think the next trend should be two types 1. After breaking through upward, the pressure goes back to about 70,000 and then continues upward (red arrow) 2. Go down close to the bottom of around 59,000 until the main force absorbs enough chips and then goes up (blue arrow #The cryptocurrency market has high risks, please carefully evaluate operational risks This analysis is a personal comment and does not constitute any investment advice, so please refer to it with caution.
Long
by Jobs_lin
1
|| HBARUSD || BREAKOUT PATTERN INCOMING!Current market sentiment has been fairly bullish resulting in a great week for the top 10 crypto assets, however, we are still to see a snowball effect onto assets outside of the T10. Today I shall be discussing my perspective on the current Hbar market structure and why I feel it will be caught by the snowball to come. At the time of writing this report, Hedera is sitting at 0.0737, which is also a strong level of resistance depicted by the fib retracement I have placed (38.2%) Patterns: Let me start off with the defending bullish pennant we are currently in. This pattern although a good confluence alone, has been suppressed by the fib retracement 50% ($0.0720) which has in turn created a double bottom suppression breakout formation. Both the pennant and double bottom patterns have targets set at 0.080, however, there is a level of resistance as my conservative target at 0.0785-93. I expect price to break to the baseline of my DB formation at 0.0756 before completing the pennant formation by converting the pattern resistance into support before continuing. this action will add confluence to my projections. Slightly bearish yet healthy alternative would be if price was to fall below 0.0720 (50% fib) to the golden ratio set at 0.0703-698. This movement would of course void the existing double bottom, however, would add additional confluence in the bullish pennant narrative. Price range to watch over in the following days are between 0.0756 (resistance + baseline of DB) and 0.0720. A break from either levels will result in a fairly impulsive move to our conservative target (0.0785-93) or to our golden ratio (0.0703-698) Thank you for your interest in my report. I truly hope you were able to receive some informative insights on the current Hbar market that is able to aid your pre-existing perspective on the Hbar price structure. THIS IS NOT FINANCIAL ADVICE!
Long
by Crisp_Flow
3
Technical Analysis for GBP/USD on 8-Hour Time FrameFUNDAMENTAL REASONS The UK economy is experiencing sluggish growth, with recent GDP data indicating minimal expansion due to Brexit-related uncertainties and global economic headwinds. UK inflation is at 3.1%, above the Bank of England's (BoE) target of 2%, putting pressure on consumer spending. The unemployment rate is 4.0%, with stable employment but slow wage growth failing to keep up with inflation. The US economy remains robust, with Q1 GDP growth at 2.5%, supported by strong consumer spending and business investment. US inflation is at 3.8%, above the Federal Reserve’s 2% target, prompting aggressive monetary tightening. The unemployment rate is low at 3.6%, indicating a tight labor market and strong job creation. Interest Rates: The BoE has raised interest rates to 4.5% to combat high inflation. Further hikes may be on the horizon if inflation persists. Monetary Policy: The BoE has ended QE but continues reinvesting in maturing assets. Interest Rates: The Fed has increased rates to 5.25% to address inflation, with more hikes possible based on economic data. Monetary Tightening: The Fed is reducing its balance sheet through quantitative tightening (QT), affecting liquidity. Brexit: Ongoing Brexit adjustments and trade negotiations continue to create economic uncertainties for the UK. US-China Relations: Tensions between the US and China influence global trade and economic stability, impacting both the UK and US. Russia-Ukraine Conflict: The conflict has led to higher energy prices, disproportionately affecting the UK’s economy due to its energy import dependency. Technical Analysis Current Price Action Current Price: 1.2700 (as of the latest 4-hour close) Previous Close: 1.2720 Range: 1.2680 - 1.2730 Trend Analysis Short-Term Trend: Downtrend Medium-Term Trend: Sideways/Range-bound Long-Term Trend: Uptrend (based on daily time frame analysis) Moving Averages 20-Period EMA: 1.2710 (price slightly below, indicating short-term weakness) 50-Period SMA: 1.2735 (price below, confirming short-term downtrend) 200-Period SMA: 1.2600 (price above, indicating long-term strength) Support and Resistance Levels Immediate Support: 1.2680 (recent swing low) Key Support: 1.2600 (200-period SMA and psychological level) Immediate Resistance: 1.2730 (recent swing high and 50-period SMA) Key Resistance: 1.2800 (psychological level and previous resistance zone) Technical Indicators Relative Strength Index (RSI): 45 (neutral, but close to oversold territory) MACD: Bearish crossover, histogram below zero (indicating bearish momentum) Stochastic Oscillator: Near oversold zone, potential for bullish reversal if it crosses upwards Volume Analysis Volume Trend: Decreasing volume on recent declines, suggesting weakening selling pressure Volume Spikes: No significant volume spikes, indicating lack of strong conviction in either direction Fibonacci Retracement Levels Recent High: 1.2810 Recent Low: 1.2600 Key Levels: 23.6% Retracement: 1.2665 38.2% Retracement: 1.2695 50% Retracement: 1.2705 (current price near this level) 61.8% Retracement: 1.2720 Conclusion Bearish Bias: Given the price below key moving averages, bearish MACD, and potential head and shoulders pattern. Support and Resistance Play: Watch for a break below 1.2680 for a potential move towards 1.2600. Alternatively, a break above 1.2730 could signal a retest of 1.2800. Risk Management: Use stop-loss orders below 1.2680 if long and above 1.2730 if short to manage risk.
Short
by The_Golden_Path
6
7/2 iDEA AND LAYOUT POWELL SPEAKING AT 930GREATTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTT MORNING YALLLLLLLLLLLLLLLLLLLLLLLLLLLLLLL!!!!!< 😏 😏 😏 07/02/2024 **News** ON THE BLOCK TODAY!!!! ***Jerome Powell Speaks*** WATCH OUT HIS WORDS WILL WHIP SAW THIS LIKE NO OTHER 9:30 AM ET ***JOLTS*** 10:00 AM ET ***Midnight*** **CONSENTRATED CONSOLIDATION ** *#ES 5521.75* *#NQ 19982.50* 💰 **BUYSIDE**💰 ***#ES 5541.25***.--->Above this level we look for --->.... 🟢 5552.75 🟢 5564.50 🟢 5580 🟢 5604 🟢 5616.75 🟢 5639.50 🟢 5653.25 🟢 5676.85 ***#NQ 20017.75***...---> Above this level we look for--> 🟢 20022.75 🟢 20089.50 🟢 20113.25 🟢 20151.50 🟢 20201.50 🟢 20246.00 🟢 20292.25 🟢 20332.50 💰 **SELLSIDE**💰 ***#ES 5500***--- Below this level and we look for 🔴 5489.25 🔴 5468.7 🔴 5436.50 🔴 5406 ***#NQ 19908.25***---> Below this level and we look for 🔴 19880.25 🔴 19812.50 🔴 19775.25 🔴 19749.50 🔴 19693.25 🔴 19647.75
CME_MINI:NQU2024
by Stockqueenie
1
XAUUSD FUNDAMENTAL ANALYSISXAUUSD FUNDAMENTAL ANALYSIS Monday saw a downtrend in the precious metals market, with gold prices fluctuating and falling back. Starting this week, due to the lack of significant new fundamental news driving the precious metals market, gold traders will focus on external markets, most of which are in a bullish trend. U.S. Treasury yields edged up slightly while competing asset classes such as stocks have led the U.S. stock index to reach or approach historical highs. These external factors have triggered technical selling in the gold market. Furthermore, the comments from Philadelphia Fed President Harker, expressing his fundamental forecast including one more rate cut before the end of the year, continue to weigh on non-yielding assets. Hawk emphasized the necessity of ongoing assessment, stating, "If everything unfolds as expected, I believe a rate cut before the end of the year is appropriate." However, he also left room for adjustments based on new economic data, noting, "Regardless of how the data evolves, I think it is quite likely that there will be either two rate cuts this year or no cuts at all... We will still rely on the data." Hawk believes the current policy rate, which has been stable for nearly 11 months, remains effective in maintaining restrictive conditions to bring inflation back to target levels and mitigate upside risks. His projections include a slowdown in economic growth but above trend levels, a mild increase in unemployment rates, and a gradual return of inflation to target levels, which he describes as a "long glide".
OANDA:XAUUSD
by realmillionairefx
Gold Market Analysis: Short-Term Targets and Long-Term OutlookIn the US trading session on Friday, the price of gold (XAU/USD) faced pressure as it sought to reclaim near-record highs around 2,430 USD. Despite a slight decrease, the price of gold remained within its upward trend, supported by safe-haven inflows amid escalating tensions in the Middle East. Looking at the chart, we can see that the price of gold is experiencing a slight decline while attempting to maintain above the crucial resistance level of 2,400 USD. However, the upward trend remains intact and is expected to continue into the following week. The short-term target is the 2,400 USD mark, with potential further advancement towards the psychological level of 2,431 USD.
OANDA:XAUUSD
by Stephen_Anders
The USD in a ConundrumThe USD at the start of the year was trading near the 100 lvl but has managed to push above the 106 lvl in a little over a few months. If price is able to break out of the 107 lvl, there isn't to many resistances for the USD to break (the 108 could be one) and price might be able to hit the 114 lvl made in 2022. With the CPI data coming in a little higher then expected and traders/investors/analysts speculating that the FED will likely hold off on reducing rates (currently, FED Rate Monitoring tool is showing a 71.7% chance of FED holding rates), the elections coming up, conflicts in the Middle East/Europe/Asia, continued government spending (which keeps increasing), not enough government revenue which leads to more borrowing, this puts the FED between a rock and a hard place. Will the FED continue to hold rates and potentially push the economy to a recession (and a real one not one that did happen but supposedly didn't happen, back in 2022 Q1/Q2) or continue on with lowering rates, keep the economy going and potentially cause inflation to spike? Either way it is No Bueno. What is interesting is how commodities such as Gold/Silver/Oil are pushing up higher while the USD pushes up higher. These products are typical non correlated to each other, yet, currently they are. The USD shot up to 106. Silver from the start of the year pushed up from near 22 to now coming close to hitting 30 before pulling back to below 28. Gold pushed lower to below 2,000 in the beginning of February and pushed above 2,440 before pulling back to 2,360. Oil began near 70 and is trading above 85. So, when things return to the mean (non correlated), either the USD will take a hit or commodities will. The main things is how much of a hit will happen. Risk assets such as the stock market are finally taking a hit as the market just kept climbing and climbing, with the DJ Futures Market pushing past 40k and finally being cracked in the beginning of April. I am thinking that the USD might be able to hit the 108 lvl as other Central Banks are holding onto rates (just recently the ECB stuck to holding rates). If the FED holds onto current rates and other banks decide to reduce rates, the USD will skyrocket higher. If other banks decide to keep holding rates while the FED does, it will likely be whose economy can withstand the higher rates the longest. Protect yourselves with either reducing position sizing to withstand a large move, hedge, or do not be in a trade and see if price moves how you are speculating it. I have no position on the USD or in Forex itself (I'm tied up in other trades), but I am watching this because it is part of the plan I have when my other positions in other trades are completed. Y'all have some great trading out there.
INDEX:DXYLong
by DollarSaenz
RARI USDT TO $50RARI USDT TO $50 Long accumulation phase on WEEKLY timeframe that finally broke out. This recent breakout from a long accumulation phase on the weekly timeframe suggests significant potential upside. Notably, it broke out of a drawn-out weekly descending channel. Generally, the higher the timeframe of the breakout, the larger the potential move. We observed a similar scenario with AVAX. We entered AVAX when it was under $10 and caught the mega-pump upwards of $40. Target: $50 -------------- Why $50? RARI boasts a maximum supply of 25,000,000 tokens, with nearly half of that already in circulation, totaling 11,578,869. Presently, the market cap stands at $50,000,000. In the dynamic world of NFTs, which gained substantial traction in 2021 and are poised for even greater prominence in the upcoming bull run, RARI stands out. Not merely an NFT platform, RARI has evolved into a Layer3 ETH chain, featuring its own smart contract platform. This development is significant and positions RARI for substantial growth. A noteworthy aspect that often goes unnoticed is RARI's dual presence on Coinbase, as well as its inclusion in the Coinbase Ventures Portfolio. Historical trends indicate that coins backed by prominent institutions and venture capitalists tend to perform exceptionally well. Given its functional utility and use case, a target of $50 seems plausible. Achieving this mark would elevate the market cap to $500,000,000, a realistic milestone. It's essential to recognize the scarcity of RARI's token supply, making it susceptible to significant price pumps. While the potential for RARI to surpass $50 exists, this target represents a conservative estimate. It's crucial to acknowledge that we're still in the early stages of RARI's journey, particularly considering that its smart chain has recently launched. Therefore, achieving this long-term target may take months or even years. Rarible Protocol – open-source and free-to-use infrastructure for building NFT apps and experiences, such as marketplaces, wallets, analytics and more. RARI Chain is a secure and low-cost Ethereum L3 chain that guarantees royalty payments through enforcement on the node level. RARI Foundation and RARI DAO are committed to broadening the NFT use case horizon by creating a creator-centric and fully decentralized robust ecosystem. RARI has been a fixture on my watchlist for months, and I'm pleased to share that my average entry price was $1.57, a detail I've also shared with my followers. COINBASE:RARIUSD KRAKEN:RARIUSD CRYPTO:RARIUSD POLONIEX:RARIUSDT MEXC:RARIUSDT COINEX:RARIUSDT GATEIO:RARIUSDT BITMART:RARIUSDT
CRYPTO:RARIUSDLong
by Coindatahouse
2
Gold, on its way back to 2000?Gold looks promising to back to 2000 from daily and weekly chart. for entry vise, if you catch the entry at around 1890, the risk will be minimal to catch the wave to 2000. if you are looking a entry from where i see the price currently, i would expect a small retracement to around 1925 before another round of up trend to 1955. 1955 holds a key level for Gold to further move up to 2000. if the retracement after 1955 key point stays above 1945. the momentum to 2000 should be unstoppable.
FOREXCOM:XAUUSDLong
by Remon_T