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GOLD: Pullback in Short Term?Hi Traders! Gold prices rose early on Thursday as the dollar weakened ahead of next week's expected Federal Reserve interest-rate cut. Gold for December delivery was last seen up US$19.70 to US$2,562.10 per ounce. Hopes among gold bulls that the Federal Reserve's policy committee would offer 50 basis point rate cut at the end of its two-day meeting next Wednesday were dashed when data released yesterday showed the August U.S. Consumer Price Index rose by 2.5% down from 2.9% in July. "Gold dropped back on Wednesday after US inflation data dimmed the prospects for a 50-basis-point cut next week, but underlying strength prevails, with daily higher lows signaling continued appetite from investors," Saxo Bank noted. The dollar eased early, with the ICE dollar index last seen down 0.08 points to 101.61. Treasury yields were flat, with the yield on the U.S. two-year not unchanged at 3.648%, while the 10-year note was paying 3.658%, also steady. From a technical point of view, on the daily chart the trend is bullish (but has not yet reached our Target at the moment). That said, once the harmonic structure is completed, we do not exclude an interesting mid-term pullback. What do you think? Please support our idea for future updates. Thanks for watching
OANDA:XAUUSDShort
by TheAnonymousBanker
16
Gold Is Coming Out Of An Elliott Wave TriangleOn a higher degree time frame, we see gold coming higher into a fifth wave, but it may take some time before it finds the top, as we see an unfinished lower degree impulse. Gold remains in strong and impulsive five-wave bullish cycle on a daily chart and there's space for more upside, we will just have to be aware of a higher degree wave IV correction still this year, possibly in Q4. Why? Because we see a move out of a triangle here in fifth wave of III, so we know thats the final trust within higher degree extensions, meaning there can be limited upside in weeks ahead, ideally around 2600-2700 area.
SAXO:XAUUSD
by ew-forecast
Bearish reversal?Silver (XAG/USD) is reacting on the pivot which has been identified as a pullback resistance and could fall to the 1st support which acts as an overlap support. Pivot: 30.11 1st Support: 29.01 1st Resistance: 30.11 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary. Disclaimer: The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
ICMARKETS:XAGUSDShort
by ICmarkets
XAUUSD - Gold 4HRSimple Trading - Triangle pattern Gold has broken from its bullish momentum and is now finding support in the triangle around 2505. Expect gold to continue to the previous low and make higher lows around 2490. If the Triangle pattern plays out correctly, the Price will break bullish above the recent highs and continue to the target. Keep in mind that 2 or more candles are already closed above the Triangle. This could either be a break and retest or could indicate more sell pressure. *These are just my thoughts, not financial advice.
CITYINDEX:XAUUSD
by nikdobii
COPPER - Following Gold?Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. 📈 COPPER has been overall bullish, trading inside the rising wedge pattern in blue. At present, COPPER is undergoing a correction phase and it is hovering around the lower bound of the wedge. Moreover, it is retesting a massive support zone marked in green. 🏹 Thus, the highlighted blue circle is a strong area to look for buy setups as it is the intersection of the green support and lower blue trendline acting as a non-horizontal support. 📚 As per my trading style: As #COPPER approaches the blue circle zone, I will be looking for bullish reversal setups (like a double bottom pattern, trendline break , and so on...) 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
CAPITALCOM:COPPERLong
by TheSignalyst
1
Why are Interest rates falling? Time to buy? We have seen an amazing fall in interest rates. Bonds have looked to put in a local bottom. Why are bonds showing signs of accumulation? Is the bond market pricing in a recession? I believe the recent decline in yields is due to commodity weakness. Yields have soften because energy & base metals have become cheaper. This drives the disinflationary narrative. I think its to early to tell whether this decline is from demand or global weakness.
TVC:US10Y
by Trading-Capital
Oil prices losing strength due to China's economic slowdown Oil prices continue to trend downward, as are expectations for increased U.S. oil production and pessimism about the Chinese economy. Expectations are growing that oil prices will gradually fall following reports that new wells will be drilled in US shale fields, and the costs for them will drop significantly by about 10% this year alone. Meanwhile, the economic slowdown in China, the world's largest crude oil importer, is also putting downward pressure on oil prices. China's oil imports in June fell 10.7% amid disappointment that the PBoC's rate cuts were not large enough to boost the Chinese economy. USOIL (WTI) has been trending downward over the past week, falling to the 75.10 level. After death-crossed, both EMAs rapidly widen the gap and send out a typical bearish signal. If USOIL fails to hold the 75.00 support, where the trend line intersects, the price could fall further to 72.50. Conversely, if USOIL advances toward the 76.80 resistance after recovering EMA21, the price may gain upward momentum toward the 78.20 level.
TVC:USOIL
by inkicho_exness
XAUUSD - Gold 4HRSimple Trading - Head and Shoulders pattern -PLEASE READ BELOW- Gold has broken from its bullish momentum and is now finding support at 2350. Expect gold to continue to the previous low and make Lower lows. If the Head and Shoulders pattern plays out correctly, 2400 should be the Highest gold goes before reaching the target. Keep in mind that 2 or more candles closes above 2390-2400 could indicate buying pressure. How to trade the pattern: Entry 1 is the 4hr FVG, 2400-2413 as this is a 4hr H&S pattern we look for the next FVG on the same time frame. BULLS: (weekly) Pay attention to the previous week's candle close. Two weeks ago gold week low was 2395. And last week, Gold's weekly low was 2350. The high of last week was 2430. not only was this considered a bearish week, but Gold also made a huge weekly doji candle. Gold price is uncertain on where price should move next. With a Potential bull flag pattern and a triple bottom, GOLD is certainly still long-term bullish. **We are currently in a 1000pips range or 100 points. 2390 -2290 If gold fails to remain bullish over the next couple of days, gold may drop to the previous week's support. BEARS: Respect the Pattern, take sells around 2395-2400. If a 4hr candle breaks above this 50pips zone, more bullish price action may push the price into the 4hr FVG. *These are just my thoughts, not financial advice.
CITYINDEX:XAUUSDShort
by nikdobii
XAUUSD - Gold DailySimple Trading - Cup and Handle pattern Gold has made a break from its bullish momentum and is now finding support at 2380. Expect gold to continue to reject the previous low and continue to make higher lows. If the Cup and Handle pattern plays out correctly, 2380 should be the lowest gold should go before reaching TP1. How to trade the pattern: Entry 1 is the 50% fib retracement from the previous impulse. In our case, gold has dropped perfectly to the 50% fib Entry 2 is the breakout. BULLS: Pay attention to the previous week's candle close. the high of last week was 2480. We are currently in a 1000pips range or 100 points. If gold fails to remain bullish over the next couple of days gold may surpass the previous high and reach target 1. BEARS: we can see the market may consolidate shown in ZOOM 4HR. If strong sell pressure keeps gold under the next daily FVG which is around 2445-2451, we may look to take some profits. if gold remains bearish and breaks below 2380 we look to change our basis and look for more sells in the short term. *These are just my thoughts, not financial advice.
CITYINDEX:XAUUSDLong
by nikdobii
Gold Keeps Consolidating Within A Higher Degree CorrectionGold has turned lower in the last two months, which has been expected as we saw market in fifth wave of an extended wave 3 after breaking to new ATH. Well, what we see now is a corrective pause which can come to an end in the near future, but possibly at lower support levels as the current price action here above 2300 can be a triangle in the middle of a three wave downward correction. We see nice support at 2222-2250 area. But, don't miss the alternate count, where wave 4 can be even a running triangle if price turns up now and breaks 2370 level. Bullish confirmation is above 2390 region.
FOREXCOM:XAUUSDLong
by ew-forecast