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gold surged higher, breaking multiple peaksCurrently, gold prices are being supported by information that the US Federal Reserve (Fed) has ended the monetary tightening cycle and may switch to an easing cycle next year. In the context of a weakening USD and geopolitical concerns, investors still look to gold as a haven. With the USD trend falling, it is "just a matter of time" for gold to reach an all-time high. The time for gold to reach a new peak could be at the end of this year or early next year. In addition, the increased demand for gold jewelry at the end of the year in some countries also supports gold prices. In addition, the need to buy gold from central banks in other countries also helps precious metal prices go up. Currently, investors are still waiting for signals from the US and Chinese economies in the first half of next year to determine clearer trends for the markets. This factor may prevent gold from making a strong breakthrough in the next few months, even though this is the peak season for gold consumption.
OANDA:XAUUSDShort
by FalCol_TradingMaster
XAU will recover after a strong increaseThe FED has created conditions for XAU to increase strongly until 2050, but today, November 29, 2023, gold will have a rebound. In a recent note, ActivTrades senior analyst Ricardo Evangelista said that growing expectations of a recession provide support for safe-haven gold. In this context, gold is still on the rise. Gold continues to gain momentum, boosted by expectations that the US Federal Reserve (Fed) has ended its interest rate hike. Expectations are increasingly high after recent comments from Fed officials. Less hawkish views have put pressure on the greenback and supported precious metals markets.
OANDA:XAUUSDShort
by TrategySherpa
GBPCAD still on trendFurther interest rate hikes are likely to further worsen a struggling economy, but concerns continue to rise that the Bank of England is taking too much risk in taking action and exposing the UK economy to further inflation. There is. On the U.S. side, investors are hoping and pleading that the Fed will move into a rate-cutting cycle sooner rather than later, but with the economy stable and downside risks limited, the Fed will continue to hold interest rates for longer periods of time. It will be maintained at a high standard.
Long
by Chart_MasterPro
Gold increased sharply then recovered along with GDPWorld gold this morning inched up slightly compared to yesterday morning but fell much lower than the high of the day when the newly released report showed the resilient strength of the US economy. Specifically, the report shows that US GDP in the third quarter increased by 4.9% over the same period last year, higher than economists' expectations of 4.7% and compared to an increase of 2.1% in the first quarter. 2. This data favors those who support the possibility that the US Federal Reserve will continue to raise interest rates at future monetary policy meetings. Edward Moya, senior market analyst at OANDA, said the data “paints a picture of a very strong U.S. economy,” reinforcing the narrative that the Fed may need to raise interest rates more, which This is detrimental to gold. Even though the economic data was stronger than expected, Moya was surprised by the yellow metal's strength. “I'm surprised we haven't seen a big drop in gold prices. I think people realize that geopolitical risks are not going away anytime soon,” he said.
TVC:GOLDShort
by TrategySherpa
GBPUSD UK experiencing stagflationThe pound exchange rate experienced considerable turmoil last week following the release of weak statistics. The latest blow was Friday's lower-than-expected retail sales and the result of a by-election. I'm not sure if UK politics is playing a big role at the moment so I won't delve into that right now, but last week's retail sales figures spoke for themselves, especially after inflation was higher than expected. What the data actually shows is that inflation in the UK is not currently driven by demand. Therefore, we see a drop in demand and a rise in prices, which is known as stagflation. This puts the BoE in a difficult position, as it is not as simple as raising interest rates to curb inflation, and other factors need to be considered. The Bank of England's decision in November is expected to leave interest rates at least on hold, but a modest 25 basis point rise is also expected.
Short
by Chart_MasterPro
3
USDCHF: The Fed Chairman said he would proceed carefully and didChairman Jerome Powell said the Fed wants to keep interest rates unchanged at its next meeting, while leaving open the possibility of raising interest rates again in the future if policymakers see more signs of a resilient economy. . These comments confirm market expectations that the Fed will not raise interest rates at its October 31-November 1 meeting. He also said the recent rise in long-dated bond yields, if continued, could replace a “little bit” of interest rate increases, echoing his peers and emphasizing the importance of tightening regulations. financial conditions on the interest rate outlook in the coming months. “Given the uncertainties and risks and how far we've come, the committee is proceeding carefully,” Mr. Powell said at the Economic Club of New York. “We will make decisions on the level of further policy consolidation and how long it will remain restrictive based on the total data, outlook and balance of risks.” The 2-year bond yield fell after Chairman Powell spoke, while the 10-year bond yield retreated from its upward momentum. The USD fell and S&P 500 stocks, after much volatility, also fell.
Long
by Chart_MasterPro
GBPUSD UK economy in crisisAccording to the Organization for Economic Co-operation and Development (OECD), the UK is the only G7 country whose inflation rate is still rising. The UK's consumer price index (CPI) rose by 7.9% in May over the same period, up slightly from 7.8% in April, according to the OECD. Meanwhile, the remaining G7 countries, including the United States, Canada, France, Germany, Italy and Japan, all see inflation slowing. Across the G7 group, inflation fell to 4.6% in May from 5.4% in April, the lowest level since September 2021. Many major central banks are beginning to consider suspending interest rate hikes as prices cool down.
by Chart_MasterPro
euro trading strategy October 19, 2023Financial markets are gradually turning away from macro data and toward the increasingly unstable situation in the Middle East. Today, US President Joe Biden went to Israel to negotiate with Prime Minister Benjamin Netanyahu, but his meeting with the leaders of Palestine, Egypt and Jordan was abruptly canceled last night after a hospital Gaza was attacked by rockets, believed to have been launched by Israel. As the conflict between the two sides escalates, traders have turned to gold as a safe haven. With few factors supporting the Euro, the EUR/USD currency pair is being influenced mainly by the US dollar. EUR/USD seems to be stuck in the 1.0450 - 1.0630 range. A confirmed break below the 20-day SMA would take the price to the support zone of 1.0500 -1.0516. Further away is the 1.0450 area.
Long
by FalCol_TradingMaster
Potential Trading Opportunity: Euro Poised to Fall Parity with tAs you may be aware, the euro has been facing considerable pressure against the US dollar, and there is a growing possibility that it may soon reach parity or even dip below it. Given the caution warranted in volatile markets, this idea aims to present a valuable opportunity for traders who are willing to navigate the risks involved. If you have been following the fluctuations in the foreign exchange market closely, now might be the time to consider shorting the euro against the dollar. By observing the weakening Eurozone economic indicators, mounting concerns about the European Central Bank's monetary policy, and the resurgent strength of the US economy, it is becoming increasingly apparent that the downward trend in the euro's value is likely to continue. For those traders with a cautious approach looking to capitalize on this downward movement, shorting the euro can potentially yield impressive returns. However, it is of utmost importance to approach this opportunity with careful consideration and ensure that you have undertaken thorough analysis of the market variables. I strongly encourage you to perform research, including technical and fundamental analysis, before making any trading decisions. As a professional trader, I trust that you understand the importance of incorporating risk management strategies and setting clear profit targets.
Short
by bryandowningqln
AUDUSD: Asian foreign exchange little changed as dollar falls; TMost Asian currencies fell slightly on Monday, while the dollar edged away from recent peaks as investors continued to worry about any potential spillovers from the Israel-War. Hamas. Demand for riskier Asian currencies remained weak, while the dollar saw mild profit-taking after reaching near a 10-month high last week. Concerns about higher interest rates in the US, after inflation rose sharply in September, kept Asian market sentiment largely negative. The Australian dollar rose 0.4%, recovering from a 10-month low, although sentiment towards the currency remained dampened by weak commodity prices.
Short
by Chart_MasterPro
GBP JPY fluctuates as threat of intervention increasesThe yen is approaching the key psychological level of 150 yen per dollar after the interest rate gap with the US widened due to hotter-than-expected inflation data. The currency traded just below that rate against the greenback on Friday morning in Asia amid speculation that Japanese authorities would intervene if the yen suddenly weakens. The Group of Seven reaffirmed its position that excessive moves are problematic, a senior finance ministry official said, during a meeting on Thursday in Morocco. Yuta Suzuki, vice president of MUFG Bank Ltd. in New York
by Chart_MasterPro
The EU plans an anti-subsidy investigation to secure a steel deaThe conduct of an anti-subsidy investigation against steel manufacturers will be announced at a summit with the US on October 20. InternationalEU plans an anti-subsidy investigation to secure a steel agreement with My Phuong Nhi • October 11, 2023 19:19 The conduct of an anti-subsidy investigation with steel manufacturers will be announced at a summit peak with the US on October 20. Recently, the European Union (EU) said it is planning an anti-subsidy investigation against steel manufacturers in China and other countries. This is part of an agreement with the United States to end tariffs under former US President Donald Trump, Reuters reported on October 10. The Financial Times reported that the EU planned to announce the investigations, shortly after the meeting of US President Joe Biden and European Commission President Ursula von der Leyen and European Council President Charles on September 1. October 20 is here.
Long
by Chart_MasterPro
GOLD UPDATE 45 MIN In the previous analysis that was published, it was mentioned that the path for upward movement had become smoother. However, with the price being at the upper boundary of the ascending channel, we were looking for entry points at lower areas for buying, but the price experienced buying pressure and broke the channel from above. We are still looking for lower areas to buy, even if it doesn't match our desired price. I would appreciate hearing your opinion.
OANDA:XAUUSDLong
by jawad369
1
NZDUSD SWING SIGNAL LONGHello trader friends New Zealand dollar to US currency pair Considering the breaking of the dollar index, we can think about long transactions Due to the inclusion of the pivot in the 4-hour period, there is a possibility of a phase change from bearish to bullish in this currency pair. Therefore, according to the appropriate risk and reward, we can enter into long positions Thank you for following me You can send a message to subscribe to Signal's private channel I will also be happy to tell you your opinion
Long
by jawad369