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Gold decreased slightly as US government bond yieldsThe USD recovery caused gold to fall slightly as US government bond yields and the USD recovered, but it is expected to maintain its upward momentum thanks to the current dovish stance of the market. During the December 28 session, world gold prices dropped to around $2,065 from $2,088 at the beginning of today's Asian session when US government bond yields and the USD recovered slightly. However, the current upward momentum of precious metals is expected to remain intact as investors expect the Fed to reduce interest rates and inflation is on a steady decline. Going forward, the December jobs report and manufacturing PMI data will be the focus of the market, though these indicators are unlikely to change Gold's current upward momentum as traders prepare Entering the New Year holiday. Currently, gold is increasing slightly to $2,070.
OANDA:XAUUSDShort
by TrategySherpa
Gold continues to fall as expected, waiting for a recovery pointWorld gold prices reversed slightly this morning, with spot gold down 12.7 USD to 2,065 USD/ounce. Gold futures were listed at 2,075.8 USD/ounce, down 12.2 USD compared to yesterday morning. World gold prices decreased slightly after hitting a 3-week high when pressured by the recovery of the USD and rising bond yields. The US Dollar Index rose 0.2% after falling to a five-month low. Benchmark 10-year bond yields rebounded and exited their lowest level since July, denting the appeal of bullion. This expert predicts gold prices will be higher in the next 12 months thanks to weaker economic data and cooling inflation in the US forcing the Fed to cut interest rates. Currently, according to the CME FedWatch tool, investors are betting on an 88% chance that the Fed will cut interest rates as early as March.
OANDA:XAUUSDLong
by FalCol_TradingMaster
Does gold have a chance to decrease slightly before the strong?World gold prices this morning continued to increase slightly with spot gold increasing by 10 USD to 2,077.7 USD/ounce. Gold futures were listed at 2,088 USD/ounce, up 9 USD compared to yesterday morning. The world gold market was quiet this morning due to the lack of data in the last week of 2023. Experts say that this precious metal is preparing for a prosperous new year with expectations from the Federal Reserve. The US (Fed) will cut interest rates in the first quarter of 2024, which are increasingly increasing. Gold was also slightly boosted by the weakening of the USD and bond yields. The US Dollar Index hit a five-month low and saw its first annual decline since 2020, making bullion more attractive to foreign buyers. Benchmark 10-year Treasury yields also hit their lowest level since July 24.+ Data released last week showing “cooling” inflation has boosted financial market expectations of a rate cut from the Fed next March, and according to the FedWatch tool, traders are now pricing around a 90% chance of this happening. Talking about gold's fluctuations in 2024, senior market strategist Bob Haberkorn of RJO Futures said that, entering the new year, the market is mainly focused on the story of falling interest rates and gold will be nothing but. price increase.
OANDA:XAUUSDLong
by FalCol_TradingMaster
1
XAUUSD- XAUUSD trading strategy, Gold trendWorld gold prices turned down this morning with spot gold down 10 USD to 2,030.2 USD/ounce. Gold futures last traded at 2,043.3 USD/ounce, down 8.8 USD compared to yesterday morning. The world gold market was quiet in the early morning trading session this morning as traders waited for a series of economic data at the end of the week to get new clues about the US Central Bank's monetary policy roadmap. RJO Futures senior market strategist Daniel Pavilonis forecasts that gold prices will stabilize above $2,000 an ounce and mainly trade at higher levels considering geopolitical risks in the market, including US elections next year, which could prompt money managers to add gold to their portfolios. Last week, the US Federal Reserve (Fed) said its strongest monetary tightening cycle in the past four decades was over and interest rate cuts would take place in 2024. However, the Chairman Atlanta Fed branch Raphael Bostic gave the opposite view that the US economy is still strong and there is no rush to make a decision to cut interest rates. This official said that policymakers still need "several months" to have enough data and is confident that inflation will continue to go down and the first interest rate cuts are expected to begin in the third quarter. . Meanwhile, according to the FedWatch tool, markets are pricing in about a 79% chance that the Fed will cut interest rates in March.
OANDA:XAUUSDLong
by FalCol_TradingMaster
🗺️DXY Index Roadmap🗺️🏃‍♂️The DXY index has been moving in the Descending Channel for over two months . 🌊According to Elliott's wave theory , the DXY Index is near the end of the main wave 5 . 🌊If we want to look at the microwaves of the main wave 5 in the 1-hour time frame , we will find that the DXY index is on the way to completing the microwave 5 of the main wave 5 . 💡Also, we can see Regular Divergence(RD+) between two Consecutive Valleys . 🔔I expect the DXY Index to start rising after touching the 🟢 Support zone($101.30-$100.80) 🟢, Support lines , and 🟡 Price Reversal Zone(PRZ) 🟡 and complete the main wave 5. The increase of the DXY index can fill the upper 🔵 GAP 🔵 and attack the upper line of the descending channel. U.S.Dollar Currency Index ( DXYUSD ) Analyze, 1-hour time frame⏰. Do not forget to put Stop loss for your positions (For every position you want to open). Please follow your strategy; this is just my Idea, and I will gladly see your ideas in this post. Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
TVC:DXYLong
by pejman_zwin
8
🗺️EURUSD Roadmap🗺️🏃 EURUSD is moving near the 🔴 Heavy Resistance zone($1.11850-$1.0980) 🔴,the Resistance lines . 🌊According to Elliott wave theory , EURUSD is completing Corrective Waves in the 1-hour time frame. 🌊The structure of correction waves is Zigzag(ABC/5-3-5) type. 🔔I expect EURUSD to start falling to 🎯 Target 🎯, 🟢 Support zone($1.0800-$1.0756) 🟢 and Uptrend line . Euro/U.S.Dollar Analyze ( EURUSD), 1-hour Time frame ⏰. Do not forget to put Stop loss for your positions (For every position you want to open). Please follow your strategy; this is just my idea, and I will gladly see your ideas in this post. Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
Short
by pejman_zwin
5
Sell USDJPY at current price (143.9)OANDA:USDJPY The USDJPY exchange rate reacted negatively to the resistance area with the appearance of a bearish Pinbar reversal base. Perhaps the negative divergence reaction of RSI may have ended. We can execute a Sell order with stop loss and take profit based on support, resistance and Fibonacci retracement levels. Sell USDJPY at current price (143.9) Stop loss at 145 Take profit 1 at 143 Take profit 2 at 142.5 Note: Capital management 2%
Short
by VNSmartMoney
1