Commodities
Gold prices continue to search for new peaks?Conan, hello everyone!
Today, the price of gold continues to break records by maintaining a new peak around $2700, and the growth trend seems to show no signs of slowing down this year.
Notably, this week, the European Central Bank held a meeting and officially decided to cut interest rates for the third time this year, with a reduction of 0.25 percentage points. At the same time, gold has attracted more attention from investors after the LBMA poll released earlier this week. These developments have made the gold market hotter than ever. It is expected that this price increase will reach $2760. What are your thoughts on this issue? Do you agree with me?
silver to 35$ Rate Cut Expectations Hello Traders as I can see Silver Breaks Above $30.19 as Fed Rate Cuts Loom, Eyes $31.76 and $32.52 as Bullish Targets for the Week Ahead. Dollar Weakness and Gold Inflows Propel Silver Higher; Traders Await Fed's Upcoming Interest Rate Decision. Fed Rate Cut Expectations Soar: Markets See 57% Chance of 25-Basis-Point Cut, 43% Chance of a Bigger 50-Basis-Point Cut
is moving toward to 35$ range as we can see bull market continues on the base of FFR cut Expectations also technically chart is showing us that the descending Triangle breakout is a clear view to continue Rally till 35$. Silver prices surged last week, breaking above the $30.19 per ounce mark and confirming a bullish trend on the weekly charts. The rally brought key levels of $32.52and $35 into focus. Optimism that the U.S. Federal Reserve is preparing to cut interest rates, coupled with a weaker U.S. dollar and strong gold inflows, fueled silver’s upward move.
Dollar Weakness and Gold Inflows Drive Silver Higher. One of the key drivers of silver’s rise was the U.S. dollar’s continued decline, which hit its lowest level of the year against the yen. A weaker dollar typically boosts silver by making it cheaper for holders of other currencies. Additionally, global gold-backed exchange-traded funds (ETFs) saw continued inflows, with the SPDR Gold Trust reaching its highest levels since January. This increased demand for gold also lifted silver prices, as the two metals often move in tandem. Friends its just a trade idea make proper research before entering any trade Support the idea it will help many other traders Stay tuned for more updates ....
Gold stays high despite rising U.S. yields and a stronger dollarGold prices (XAU/USD) reached a new record high on Wednesday, surpassing $2,750 in the European trading session. Risk-averse sentiment and the threat of escalating tensions in the Middle East have driven capital into the precious metal. Political instability in the U.S. and accommodative monetary policy have also supported gold prices.
Despite the U.S. dollar rising to its highest level since early August, bullish sentiment remains strong. Expectations that the Federal Reserve will cut interest rates less and concerns about spending deficits following the presidential election have pushed U.S. Treasury yields to a three-month high, which could hinder further growth in XAU/USD amid light overbought conditions.
Personal opinion:
XAU/USD has faced resistance near the $2,750 level, followed by the $2,767 area, which is the upper boundary of a two-week upward channel. If this barrier is cleared, it’s likely that the price of gold will continue to grow. If that happens, we could see gold reaching the $2,800 mark.
Pay attention to the price range:
Buy Zone: 2738 - 2736
SL: 2731
Buy Scalp: 2749 - 2747
SL: 2742
Sell Zone: 2767 - 2769
SL: 2774
GOLD Is Bullish! Buy!
Please, check our technical outlook for GOLD.
Time Frame: 1h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is testing a major horizontal structure 2,756.196.
Taking into consideration the structure & trend analysis, I believe that the market will reach 2,778.600 level soon.
P.S
We determine oversold/overbought condition with RSI indicator.
When it drops below 30 - the market is considered to be oversold.
When it bounces above 70 - the market is considered to be overbought.
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XAUUSD Top-down analysis Hello traders, this is a complete multiple timeframe analysis of this pair. We see could find significant trading opportunities as per analysis upon price action confirmation we may take this trade. Smash the like button if you find value in this analysis and drop a comment if you have any questions or let me know which pair to cover in my next analysis.
PALLADIUM Bullish Cross on MACD sets the tone.Palladium (XPDUSD) has been rising since the 1D Golden Cross (October 07) and on top of the 1D MA50 (blue trend-line) since September 09. We view this as the emergence of a Channel Up, currently on its 2nd Bullish Leg, aiming for the next Higher High.
The 1D MACD is on a Bullish Cross, and that's all we need to confirm the continuation of the rise. Our first Target is near the top (Higher Highs trend-line) at 1200. After that and if a potential subsequent pull-back holds the green zone, we will turn bullish again towards 1270.
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Gold continues to conquer new heightsHello everyone! What is the current price of gold? Let's analyze with Victor!
The world gold price today set a new record of 2,747 USD/ounce, up 27 USD compared to the same period yesterday at 2,720 USD/ounce. The world gold price skyrocketed to an all-time high as investors increased their demand for safe capital due to uncertainties surrounding the US presidential election and ongoing military conflicts in the Middle East. In addition, gold is considered a hedge against geopolitical and economic instability and has increased by more than 32% since the beginning of 2024. Lower interest rates also increase the attractiveness of holding gold.
As can be seen on the 2-hour chart, gold is showing an extremely positive technical outlook. With moving averages sloping up and technical indicators supporting the bullish trend, gold is ready to conquer new highs. The $2,733 support level acted as a solid cushion in line with the 34 EMA and the rising channel limit, allowing gold to easily clear the $2,747 resistance and move strongly towards the $2,770 target.
So, what do you all think about gold prices today? Will the bullish momentum continue?
XAU 1M Gold price formation history and future expectationsGold , or as denote the main trading pair XAUUSD , has been gaining a lot of attention around itself in recent years.
As soon as major analysts or hedge fund top-managers begin to say that the next crisis is near, investors immediately start buying gold as a defensive asset, and its price, accordingly, goes up.
Let's walk a little through the history of the Gold price.
We finished drawing the graph, to what exists on tradingview.com, based on the data that is freely available.
1) In 1933, to overcome the crisis after the "Great Depression", US President Roosevelt issued a decree on the confiscation of gold from the population. The price for an ounce of gold is set at $20.66.
2) In 1971, a real rise in the value of gold begins. After decoupling the US dollar rate from the "gold standard", which regulated the cost of 1 troy ounce of gold at $35 for a long period from 1934 to August 1971.
3) 1973 - "The First Oil Crisis" and the rise in the value of gold from $35 to $180 - as the main anti-crisis instrument, a means of hedging investment risks.
4) 1979-1980 Islamic Revolution in Iran (Second Energy Crisis). The cost of gold, as the main protective asset, in a short period of time grows more than 8 times and sets a maximum at around $850
5) During 1998-2000, the world swept through: the "Asian economic crisis", defaults in a number of countries, and the cherry on the cake - the "Dotcom Bubble". During this period, the price of gold was twice aggressively bought out by investors, from the level of $250. It was a clear signal - there will be no lower, next, only growth!
6) And so it happened, from 2001 to 2011 there was an increase in the value of gold from $250 to $1921 . Even the mortgage crisis of 2008 could not break the growth trend, but only acted as a trigger for a 30% price correction.
Looking at the XAUUSD chart now, one can assume that large investors were actively buying gold in the $1050-1350 range during 2013-2019.
It is hard to believe that investors who have been gaining long positions for 6 years will be satisfied with such a small period of growth in 2019-2020.
For ourselves, we establish a Gold purchase zone in the range of $1527-1600 per troy ounce, from where we expect the growth trend to continue to the $3180-3350 region
What are your views on the future price of gold? Share them in the comments!
GOLD Is Bullish! Long!
Take a look at our analysis for GOLD.
Time Frame: 1h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is approaching a significant support area 2,726.00.
The underlined horizontal cluster clearly indicates a highly probable bullish movement with target 2,742.59 level.
P.S
We determine oversold/overbought condition with RSI indicator.
When it drops below 30 - the market is considered to be oversold.
When it bounces above 70 - the market is considered to be overbought.
Like and subscribe and comment my ideas if you enjoy them!
Market Analysis: Gold Rallies To New ATHMarket Analysis: Gold Rallies To New ATH
Gold price started a fresh surge above $2,720.
Important Takeaways for Gold Price Analysis Today
- Gold price started a strong increase from the $2,645 zone against the US Dollar.
- A major bullish trend line is forming with support at $2,735 on the hourly chart of gold at FXOpen.
Gold Price Technical Analysis
On the hourly chart of Gold at FXOpen, the price formed support near the $2,645 zone. The price remained in a bullish zone and started a fresh increase above $2,680.
The bulls even pushed the price above the $2,720 level and the 50-hour simple moving average. Finally, it traded to a new all-time high at $2,748. The price is now consolidating gains near the $2,745 zone and the RSI is above 50.
Initial support on the downside is near a major bullish trend line at $2,735 and the 50-hour simple moving average. The next support sits near the 23.6% Fib retracement level of the upward move from the $2,645 swing low to the $2,748 high at $2,725.
The first major support is near the $2,700 zone or the 50% Fib retracement level of the upward move from the $2,645 swing low to the $2,748 high.
If there is a downside break below the $2,700 support, the price might decline further. In the stated case, the price might drop toward the $2,670 support. Immediate resistance is near the $2,748 level. The next major resistance is near the $2,750 level.
An upside break above the $2,750 resistance could send Gold price toward $2,765. Any more gains may perhaps set the pace for an increase toward the $2,780 level.
This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
GOLD SHORT FROM RESISTANCE
Hello, Friends!
GOLD pair is in the uptrend because previous week’s candle is green, while the price is clearly rising on the 8H timeframe. And after the retest of the resistance line above I believe we will see a move down towards the target below at 2,682.745 because the pair overbought due to its proximity to the upper BB band and a bearish correction is likely.
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eurusd h8 buy/hold bounce setup +200 pips🔸Hello traders, let's review the 8hour chart for EURUSD today. Bears maintain control since we cracked the heavy psych level at 1.10 currently trading near 1.09 and expecting further losses before a potential bounce.
🔸Based on recent data from 2024 we had multiple 3.6% corrections before
the bounces for 150-300 pips in EURUSD. specifically we had a 4% correction,
3.8% correction, 3.6% correction, 3.2% correction, 2.2% correction before
strong bounces off the lows. Current correction projected to complete near
0800, this is a 3.6% correction which is typical for eurusd.
🔸Recommended strategy for EURUSD traders: focus on buying low near
0800. SL fixed at 0750 TP1 +150 pips TP2 +200 pips final. good luck traders!
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Gold trading zones today: 23-Oct-2024Daily Gold trading zones: Identifying potential opportunities for informed traders.
XAUUSDXAUUSD The trend is still in a strong uptrend. From the very high price, we expect that in the short term, the price may have a correction at 2757-2761. If the price cannot break through 2761, it is expected that the price will go down. Consider selling the red zone.
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GOLD → Consolidation at bullrun. Shall we update ATH?FX:XAUUSD is forming the lower boundary of consolidation within the local correction. False breakdown of MA-50 and support at 2713 activate buying. Bulls are aggressively buying gold at every opportunity
Uncertainty around the US presidential election, market caution ahead of key US earnings reports are reviving demand for traditional safe-haven gold. In terms of the upcoming interest rate cut, the market has probably already resigned itself to the most likely 0.25% cut. Also, we continue to monitor the difficult economic environment in the markets of China... The Middle East conflict is still at the same level, with no signs of escalation or de-escalation, but it should not be overlooked.
The metal is forming a sideways range of 2739 - 2713 - consolidation. A primary retest of resistance could trigger a correction to 2728, or deeper, but with a high probability, gold could continue to rise
Resistance levels: 2739, 2750
Support Levels: 2728, 2713
Price may test the ATH in the near term. If the bulls break the resistance and hold the defense above 2739, gold may continue to rise.
If a bounce or false breakout is formed, the price may test the nearest support. Next, we need to watch for a reaction. If gold will return to retest 2739, then the chances of a breakout and further growth will grow!
Rate, share your opinion and questions, let's discuss what's going on with ★ FX:XAUUSD ;)
Regards R. Linda!
Gold Trading Strategy Here’s a quick summary based on the chart:
Current Trend: The price of gold is in a strong uptrend, indicated by the upward arrow and the parabolic curve that suggests continued bullish momentum.
Support Zones: There are three key support zones highlighted in light blue:
Around $2,626.60
Around $2,600.00
Around $2,521.33
These zones act as potential areas where buyers could step in if there is a retracement in price.
Moving Averages: The chart shows two moving averages that are trending upward, further confirming the bullish sentiment in the market.
Price Action: The price is currently above the nearest support level, indicating that there is room for further upward movement.
Trading Strategy: The chart suggests a continuation of the bullish trend, with potential pullbacks to the support zones being good opportunities for traders to consider long positions. The overall outlook remains positive, with a likely target above $2,800.
This visual guide provides a clear indication that gold traders should remain attentive to the support zones and the strong upward momentum for further potential gains.
Gold prices continue to rise at the end of the week!Hello everyone, what do you think about the gold price?
Today, the gold price is on an upward trend, after the buyers previously completed conquering the highs at 2661 -2700 - 2720 respectively, the price has started to increase and is currently trading at a new high of 2721 dollars. This increase is due to the fact that the two largest and second largest economies in the world, the US and China, have both announced negative economic data, which has boosted the demand for gold reserves. In addition to the reason for the poor economic information, investors expect the US Federal Reserve to cut the USD interest rate in early November, the market also expects the upcoming US election in November.
As seen on the 4-hour chart, the gold price has been continuously pushed up since the price broke out of the downtrend and in addition, the new peak is still unclear before the weekend close, showing that the upward trend will continue. Using the Fibonacci extension, I expect and forecast that the gold price will likely move in the Elliott wave (1,2,3,4,5) and target higher levels at around 1.618 i.e. (2739) and if 1.272 (2717) holds, the price will increase higher to level 2 (2762) to continue to set as the final target.
At this time, the realization phase is forming, Conan is waiting for confirmation with the aim of further strengthening in the coming time. What do you think about this view?
WTI Oil H4 | Rising into pullback resistanceWTI oil (USOIL) is rising towards a pullback resistance and could potentially reverse off this level to drop lower.
Sell entry is at 72.90 which is a pullback resistance.
Stop loss is at 74.92 which is a level that sits above the 78.6% Fibonacci retracement level and an overlap resistance.
Take profit is at 70.63 which is a pullback support.
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Please be advised that the information presented on TradingView is provided to FXCM (‘Company’, ‘we’) by a third-party provider (‘TFA Global Pte Ltd’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by TFA Global Pte Ltd.
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Bearish reversal off overlap resistance?USO/USD is rising towards the resistance level which is an overlap resistance that is slightly below the 61.8% Fibonacci retracement and could reverse3 from this level to our take profit.
Entry: 73.07
Why we like it:
There is an overlap resistance level that is slightly below the 61.8% Fibonacci retracement.
Stop loss: 74.94
Why we like it:
There is a pullback resistance level that aligns with the 78.6% Fibonacci retracement.
Take profit: 71.15
Why we like it:
There is a pullback support level that aligns with the 38.2% Fibonacci retracement.
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Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
Gold charge forecast 23/10/2024As of 8:45 a.m. on October 23, the world gold price listed on Kitco was at 2,738.4 USD/ounce, an increase of 8.6 USD/ounce compared to the beginning of the previous trading session.
Gold charge forecast
World gold expenses are anchored excessive no matter the growing USD index. Recorded at 8:forty five a.m. on October 23, americaA Dollar Index measuring the fluctuation of the dollar with 6 essential currencies became at 103,749 points (up 0.12%).
Early this morning, global gold expenses reduced as compared to remaining night`s session, however had been nevertheless indexed round document highs. Overall, from the start of the 12 months till now, gold bars have accelerated via way of means of greater than 32%.
Gold has risen no matter growing greenback and Treasury yields, and the upward thrust in gold expenses has outweighed weaker bodily call for and better supply, analysts stated.
Exinity Group marketplace analyst Han Tan stated gold ought to overcome unheard of charge degrees if the valuable steel maintains to disregard the healing in US Treasury yields and the electricity of the silver greenback. green.
💎 TVC:GOLD Buy limit 2724 - 2722💎
✔️TP1: 2730
✔️TP2: 2750
✔️TP3: OPEN
🚫SL: 2716
➖➖➖➖➖➖➖➖
💎 TVC:GOLD Sell limit 2750 - 2748💎
✔️TP1: 2730
✔️TP2: 2720
✔️TP3: OPEN
🚫SL: 2758
Gold price may rise to $3,000 by the end of this yearBusinessInternationalWednesday, October 23, 2024, 08:34 (GMT+7)
World gold prices increased again
The need for shelter when geopolitical tensions escalated pushed gold prices to a new peak, at 2,748 USD an ounce.
Closing the trading session on October 22, the world spot gold price increased nearly 30 USD to 2,748 USD per ounce. This is a new record high for the precious metal.
"Geopolitical tensions are still the main cause. The US presidential election will take place in two weeks and the race is still very close. Political instability is driving up the need for shelter."
The latest Reuters/Ipsos poll shows that Vice President Kamala Harris's support rate is currently 46%, slightly higher than former President Donald Trump's 43%. "This closeness is creating a situation of uncertainty. This environment is beneficial for gold," said analysts at BNP Paribas bank.
Grant predicts that if tensions in the Middle East continue to heat up, the price could rise to $3,000 by the end of this year. Since the beginning of the year, the price has increased 33% and continuously set new peaks.
💎 OANDA:XAUUSD Buy limit 2724 - 2722💎
✔️TP1: 2730
✔️TP2: 2750
✔️TP3: OPEN
🚫SL: 2716
➖➖➖➖➖➖➖➖
💎 OANDA:XAUUSD Sell limit 2750 - 2748💎
✔️TP1: 2730
✔️TP2: 2720
✔️TP3: OPEN
🚫SL: 2758
