US DOLLAR INDEX The us dollar index opened with a gap. today the us dollar index which was closed at 104.94 opened at 105.5 with 11 point gap.
this gap may be an indication that us dollar is going to resume its upward momentum this week which it has started on last Friday.
if this momentum continues it will be a fall for xauusd.
more clear cut analysis will be posted soon .
but please post your comments which will be helpful to understand what the crowd thinks and thus understand market sentiments.
LIKE BOOST FOLLOW US
Buysell
XAUUSD ANALYSIS OF THE WEEKLast week market has seen major volatile movements and this week the market will be more volatile due to abundant economic events that are about to happen.
last week we have seen fall to major support area of 2322 and again market trying to breach the support and go to area of 2310 and from there a down fall to even 2281.
The major moving averages both smoothed and exponential are in areas of 2344 to 2347 area.
Breach above the area will meet major resistance of 2355 2367 2374 2383 2397.
BULLISH AND BEARISH TARGET :
BULLISH:
2335
2343
2347
2355
2367
2376
2398
BEARISH;
2321
2312
2298
2287
2282
xauusd ranging market zoneOn Monday we posted analysis of gold mentioning major support and resistance along with bullish and bearish targets. both bullish and bearish target got hit and today we find a ranging market in a particular zone.
RSI is below its neutrality area of 50%.
Market range 2316- 2348
a breach below 2311 will take market to 2304 and 2287 in deep dive
above 2355 market will challenge next resistance points including 2363 and 2376
xauusd ADP NONFARM EMPLOYMENT REPORTADP is performs payroll services for its clients. The ADP National Employment Report is a measure of the monthly change in non-farm, private employment, based on the payroll data of approximately 400,000 U.S. business clients. The release, two days ahead of government data, is used as a predictor of the government's Labour Market Report.
A reading that is stronger than forecast is generally supportive (bullish) for the USD, while a weaker than forecast reading is generally negative (bearish) for the USD.
FORECAST 173K
PREVIOUS 192K
ACTUAL 152K
the data released is less than forecast and also less than previous report, which is too much bearish for dollar.
its impact may show up after the us market is opened
XAUUSD TODAY: Gold price keeps risingGold prices hovered around $2,340 per ounce on Tuesday, after logging gains in the previous session underpinned by growing expectations of eased monetary policies by major central banks. On Monday, data showed that US manufacturing activity slowed for a second consecutive month in May, while construction spending unexpectedly fell in April due to declines in non-residential activity. This further increased speculations that the Fed has room to cut rates this year. Traders are currently pricing a 60% probability of rate cut in September
SELL GOLD: 2374 - 2376 , SL: 2380
BUY GOLD: 2327 - 2325, SL: 2321
Good luck investors
XAUUSD recent updatexauusd is moving so deep down after various FED talks
Gold slumps amid strong US Dollar, high US Treasury yields
Gold prices slump on Wednesday amid rising US Treasury yields, boosting demand for the Greenback due to hawkish comments by a Federal Reserve (Fed) official.
our recent analysis founds 2330-2328 is a strong support area and 2344 act as major pivot due to simple moving average passing through the point and mayor retracement from that area many times yesterday.
above 2344 its a buy
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xauusd analysis for the week 27/52024- 31/07/2024the last week we have witnessed the biggest fall in a week in last 5 months. what will be going to happen in the coming week is much anticipated thing for traders.
our viewpoint is there will be an upward correction in the trend and the retracement zone for the market is from 2327-2333 area and the growing geopolitical tension in the middle east will also be an add on factor for this correction.
if the market goes below 2321 area of support then we can see a downfall till 2275 extended up to 2253.
bullish targets:
2343
2355
2363
2376
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xauusd weekly reviewxauusd faced the largest one week drop in last 5 months. the exact reason for this can be elicited as many.
1) soon there will be no change in interest rate of us dollar and its decided as it is may happen by september not in june
2) strong us job data
3) lot of positive economic news from usa which powered dollar
4) in last two months xauusd was over brought and now a correction is happening in that price.
5) market manipulation.
What you feel please comment us
XAUUSD ANALYSIS OF THE DAYXAUUSD has seen a big fall in last two days from a upper level of 2450 to 2328 almost 1220 pips and there is no rational reason for this fall instead lot of looming geopolitical us market related financial revelations are moving market.
currently we see a few up trends from two layer
entry level : 2329
entry level 2 : 2312
major tp and resistance points 2344 2363 2376 2383 2397
pivot 2365
trade with care
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xauusd new update and signalstwo days before we have published a chart showing potential movement of xauusd and its possible downward tends and upto what level it will fall. we have explained that if it breaches 2407 then it may fall to 2376
bullish targets: 2440
2433 done
2427 done
2421 done
2413 done
bearish targets : 2401 done
2397 done
2396 done
2391 done
2383 done
2376
we pin that previous charts also here.
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OIL 20/5/2024 AnalysisDue to serious geopolitical scenario happening in the middle east usoil has a potential tendency to go long.
the Israel strike over Rafa and death of iranian president has created a serious tension in the middle east zone which can be affecting the price of black gold the oil.
Bullish targets: 79.60
79.80
80.10
bearish targets : 79.00
78.80
supports: 79.23
78.57
78.21
pivot 78.85
resistance 79:85
80.25
until and unless the pivot is not broken oil will continue buy.
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xauusd recent analysis based on market movementsfrom the volatile market movements in us section 2407 now acts as a major pivot. any movements above this section will be a buy upto the area of upper interest 2450 and breach of this pivot will draw market down passing various supports down to 2376.
PIVOT 2407
RESISTANCE 2427, 2436, 2449, 2463
SUPPORT 2407, 2400, 2397, 2392, 2383, 2376
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GBPUSD BUYWeekly:
1. Direction:
Bullish
2. Reasons:
1. Price disrespected the FVG
2. Good displacement to the upside
3. Price is moving from IRL to ERL
Daily:
1. Direction:
Bullish
2. Reasons:
1. Price never tested the daily FVG
2. Good displacement to the upside
3. Price took a daily swing high
4. Price is moving towards major swing highs
4H:
1. Direction:
Bullish
2. Reasons:
1. Price never tested the daily FVG
2. Good displacement to the upside
3. Price might react from FVG
4. Wait for 15M MMBM
Bearish DXYWeekly:
1. Direction:
Bearish
2. Reasons:
1. Price disrespected the FVG
2. BOS with massive displacement
3. price is moving from IRL to ERL
Daily:
1. Direction:
Bearish
2. Reasons:
1. Price respecting the FVG
2. BOS with massive displacement
3. price is moving from IRL to ERL
4. currently reacting off of FVG
4H:
1. Direction:
Bearish
2. Reasons:
1. BOS with displacement
2. price respected 4H FVG
2. Wait for the reaction from newly formed FVG
3. Wait for 15M MMSM
HOOD Robinhood Markets Options Ahead of EarningsIf you haven`t bought HOOD before the previous earnings:
Then analyzing the options chain and the chart patterns of HOOD Robinhood Markets prior to the earnings report this week,
I would consider purchasing the 20usd strike price Calls with
an expiration date of 2024-9-20,
for a premium of approximately $2.22.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
OCGN Ocugen Options Ahead of EarningsIf you haven`t bought OCGN when they released their Covid vaccine:
Then analyzing the options chain and the chart patterns of OCGN Ocugen prior to the earnings report this week,
I would consider purchasing the 1.50usd strike price Calls with
an expiration date of 2024-5-17,
for a premium of approximately $0.22.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.