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GOLD → Correction for the purpose of elimination. Target 2400?FX:XAUUSD is forming a correction from the opening despite the bullish closing of the session on Friday. Fundamental background is calm, technical reaction to the false break of 2387. Friday's move was formed on relatively positive economic news for gold - higher unemployment in the U.S. reinforces the dollar sell-off as the chance of a possible U.S. interest rate cut rose slightly. This week traders' focus is on CPI and PPI, which will be released on Thursday and Friday. Technically, there is a buyer's presence in the market. MM, as consolidation and elimination of the buyer forms a correction to the liquidity zone 2364-2355. Possible consolidation or false breakdown before the subsequent growth. Resistance levels: 2387, 2411 Support levels: 2364, 2355 Today, at 14:00 Powell speaks, it is worth paying attention to his speech. High volatility is possible. In general, the fundamental background is favorable, technically, the bull market is forming a correction to support. Emphasis on the bulls. Regards R. Linda!
FX:XAUUSDLong
by RLinda
26
GOLD recovers, supported by data, key trends, PCE eyes onAs weak economic data supports expectations that the Federal Reserve will begin cutting interest rates this year, putting pressure on the USD, spot gold increased sharply by nearly 30 USD in yesterday's trading session. Today (Friday), investors will receive the most important economic data of the week, US PCE inflation data, which is expected to set the market trend. Some published data has supported the gold market. Essentially, wholesale inventories were lower than expected and the final GDP value fell significantly, dragging down the US Dollar index, thus boosting gold prices. • US quarterly GDP growth in the first quarter was revised slightly to 1.4%, but remained below the 3.4% in the last three months of 2023. GDP report also showed weakness in consumer spending. US consumption growth was adjusted down to 1.5% compared to the previous forecast of 2%. • Data released Thursday also showed initial unemployment claims fell to 233,000 in the week ended June 22. However, in the week ending June 15, the number of people continuing to apply for unemployment benefits increased by 18,000 to 1.839 million, the highest level since late 2021. US PCE inflation data is about to be published At 19:30 Hanoi time today (Friday), US personal consumption expenditure (PCE) price data for May will be released, which could reveal the path of interest rates of the Fed. Surveys show the US PCE price index is expected to be flat month-on-month in May, after rising 0.3% in April. The US PCE price index is expected to rise at a monthly pace. year-on-year was 2.6% in May, following a 2.7% increase in April. In terms of more important core data, the survey shows that the US core PCE price index in May is expected to increase 0.1% monthly, following a 0.2% increase in April; increased at an annual rate of 2.6%, compared with a 2.8% increase the previous month. As the Fed's preferred measure of inflation, year-over-year changes in the core PCE price index have a larger impact on policymakers. The upcoming US core PCE price index for May will act as a short-term catalyst for market trends in general and the gold market in particular. Since gold does not earn interest, falling interest rates reduce the opportunity cost of holding gold, making it more attractive to investors. Analysis of technical prospects for OANDA:XAUUSD On the daily chart, after gold reached levels around the 2,305 – 2,300 USD area it recovered and increased again but is currently still limited by the confluence area of ​​EMA21, the upper edge of the price channel and the technical 2,324USD. Considering the overall technical picture, although the gold price has recovered, it still does not have enough conditions to increase further. The condition for the gold price to continue to recover and increase is that it needs to move up. above the 0.236% Fibonacci retracement level and then the target level can be noticed at 2,365USD in the short term. During the day, the technical outlook for gold does not show further price increases, but instead technical conditions are still supporting a downtrend from the price channel. Notable technical levels are listed below. Support: 2,305 – 2,300USD Resistance: 2,324 – 2,340 – 2,345USD 🪙SELL XAUUSD | 2343 - 2341 ⚰️SL: 2347 ⬆️TP1: 2336 ⬆️TP2: 2331 🪙BUY XAUUSD | 2302 - 2304 ⚰️SL: 2298 ⬆️TP1: 2309 ⬆️TP2: 2314
OANDA:XAUUSD
by Xayah_trading
GOLD will continue to accumulate in the coming sessionsWorld gold prices decreased significantly in the trading session on Friday (June 28), after US statistics showed that inflation continued to deescalate and was in line with forecasts, reinforcing the possibility that the Federal Reserve The Federal Reserve (Fed) may cut interest rates in September. Many experts predict that gold prices will continue to accumulate in the coming sessions, with the possibility of breaking out of the 2,300-2,350 USD/oz range in the short term. short. Although the US Dollar index (DXY) remained stable during the day, gold prices still increased. US macro data released yesterday and tensions in the Middle East are supporting gold prices. On the evening of June 27 local time, air defense sirens sounded across a large area in northern Israel. The Israeli army said the northern region of the country was attacked by about 35 rockets from Lebanon. Israel's air defense system blocked most of the missiles. The Israeli army said the attack caused no casualties among local people. However, the attack caused fires in two northern areas. Since the outbreak of a new round of conflict between Palestinians and Israelis on October 7 last year, Hezbollah in Lebanon has occasionally carried out attacks in northern Israel, and the Israeli military has retaliated with airstrikes. bombardment and shelling of targets in southern Lebanon. A large number of residents in the northern border area have been evacuated. The conflict continued to escalate this month. On June 6, the Israeli Northern Command announced that it had completed the deployment of forces to conduct a large-scale attack against Hezbollah in Lebanon. On June 11, Lebanese Hezbollah commander Talib Abdullah was killed in an Israeli airstrike. Hezbollah then launched a large-scale rocket attack on Israel. Follow the US elections After the first televised debate of the US presidential election, Republican presidential candidate Donald Trump's approval rating significantly surpassed that of incumbent President Biden. During the debate, Biden often looked away when Trump spoke and Biden's statements were also quite weak. Some information said Biden had a cold.😁 The impact of the US presidential debate on the market has so far been limited. Although the US dollar's rise is in line with Trump's comments that he could increase trade tensions and concerns about fiscal extravagance. However, the increase in USD price seems to be more related to economic factors announced in US macro data.
OANDA:XAUUSD
by Xayah_trading
GOLD MARKET ANALYSIS AND COMMENTARY - [July 01 - July 05]OANDA:XAUUSD today closed weekly at 2,326 USD/ounce. It had previously hit a high of $2,339 when the US PCE inflation data was released. COMEX gold futures closed up 0.01% at $2,336/ounce, with a cumulative gain of 12.8% in the first half of the year. Gold is currently quite neutral fundamentally, but looking at the overall picture, inflation will not disappear and geopolitical tensions will not subside, which will be important positive supports for gold prices. Previously, the core US personal consumption expenditure index showed moderate rising inflationary pressures, in line with expectations. Over the past 12 months, the Fed's inflation index has increased 2.6%, the lowest annual increase in more than three years. Although inflation has yet to reach the Fed's 2% target, it may be close enough to signal a rate cut in September. CME Group's FedWatch tool shows that traders now see about a 64.1% chance the Fed will cut interest rates in September. San Francisco Fed President Mary Daly, who is also a member of the 2024 FOMC, said the latest inflation figures were “good news that policy is working.” It's also worth noting that data from the US Commodity Futures Trading Commission (CFTC) shows that in the week to June 25, speculative net long positions in COMEX gold futures contracts decreased by 4,823 lots. Data outlook next week Independence Day will give next week's economic data a break. On Monday, markets will get the ISM Manufacturing Purchasing Managers' Index, followed by preliminary Eurozone CPI data and JOLTS job hiring data on Tuesday. European Central Bank President Christine Lagarde and Federal Reserve Chairman Jerome Powell will also speak at the central bank meeting in Portugal. Next Wednesday, the market will focus on the ADP jobs report, weekly unemployment benefits data and the ISM services purchasing managers index, as well as the June FOMC meeting minutes. After the July 4 holiday, US traders will receive the June nonfarm payrolls report on Friday Notable economic data Monday: ISM Manufacturing PMI Tuesday: Eurozone CPI estimates, JOLTS vacancies, ECB President Christine Lagarde and Fed Chairman Jerome Powell to speak at Bank of Portugal meeting Wednesday: ADP employment data, weekly jobless claims, ISM services PMI; FOMC June meeting minutes; Friday: US nonfarm payrolls report Analysis of technical prospects for OANDA:XAUUSD On the daily chart, gold recovered but the early recovery was beaten by the target resistance area presented to readers in the previous issue of 2,340 – 2,345 USD, the price area of ​​the 0.236% Fibonacci retracement and technical level 2,345USD. Gold's weekly close still within the price channel shows that the downtrend remains stable, while price activity returning below the EMA21 also makes this moving average the closest current resistance for gold. with the price of gold technically on the daily chart. In the near term, if gold continues to be sold below 2,324 USD it will provide conditions for further declines with the target level then being around 2,305 – 2,300 USD. In case the $2,300 raw price breaks below, a new bearish cycle could be opened with a short-term target of $2,286 and more than the 0.382% Fibonacci retracement level. As long as gold cannot move above the 0.236% Fibonacci level, in terms of overall technicality, the gold price technical chart is not inclined to an upward trend. The technical downtrend of gold prices will be noticed again by the following price levels. Support: 2,324 – 2,305 – 2,300USD Resistance: 2,330 – 2,340 – 2,345USD 📌The trading plan for next week will be selling around 2360 and buying around 2268.
OANDA:XAUUSD
by Xayah_trading
3
GOLD moves sideways awaiting significant fundamental impactOANDA:XAUUSD closed Monday's session higher but still limited by the 0.236% Fibonacci level. Currently price activity hovers around the EMA21 level as investors turn their attention to US jobs data due out later this week, which could provide further clues about a rate cut of the Federal Reserve. U.S. manufacturing activity fell for a third straight month in June as demand for goods weakened and a gauge of factory input prices fell to a six-month low, suggesting inflation may continue to ease. This week, the market will focus on today's (Tuesday) speech by Federal Reserve Chairman Powell, the minutes of the central bank's latest policy meeting on Wednesday and non-payroll data. US agriculture on Friday. US markets will be closed on Thursday for the Independence Day holiday. The market currently expects a 64% chance that the Fed will cut interest rates in September and another rate cut in December. Lower interest rates reduce the opportunity cost of holding gold and make gold more attractive. should be more attractive than holding US Dollar. OANDA:XAUUSD is keeping price activity around the EMA21 level, however, staying above the EMA21 level is a good sign for gold prices as the current $2,324 technical point is also acting as another support. compatible with EMA21. Meanwhile, the Relative Strength Index (RSI) is still moving sideways without a clear trend. If the RSI bends and points up, it will be a signal that there is still a lot of room for price growth. The 0.236% Fibonacci retracement level is also currently the resistance that limits the upside potential of gold prices. Once gold breaks this Fibonacci level, which can be confirmed by the $2,345 level, it has all the technical elements. needed for a new bullish cycle with a short-term target around 2,364USD. With current largely sideways price activity, gold will need significant impact from fundamentals to create technical direction. During the day, the trend of gold price is still moving sideways around the EMA21 level, and the price points will be noticed again as follows. Support: 2,324 – 2,320USD Resistance: 2,338 – 2,340 – 2,345USD 🪙SELL XAUUSD | 2361 - 2359 ⚰️SL: 2365 ⬆️TP1: 2354 ⬆️TP2: 2349 🪙BUY XAUUSD | 2304 - 2306 ⚰️SL: 2300 ⬆️TP1: 2311 ⬆️TP2: 2316
OANDA:XAUUSD
by Xayah_trading
GOLD has dropped to its lowest level in 2 weeksOANDA:XAUUSD fell to its lowest in more than two weeks, weighed down by strength in the US dollar and rising bond yields, while traders looked ahead to US inflation data due later in the week. This According to CME "Fed Watch" data, the probability of the Fed keeping interest rates unchanged in August is 89.7% and the probability of cutting interest rates by 25 basis points is 10.3%. The probability that the Fed will keep interest rates unchanged until September is 37.2%, the cumulative probability of a 25 basis point rate cut is 57.3%, and the cumulative probability of a 50 basis point rate cut is 5 .5%. The focus this week will be on the US Personal Consumption Expenditures Price Index, the Fed's preferred inflation measure that could provide guidance on interest rates. If the result is lower than expectations, the Fed is likely to An early federal interest rate cut will increase and support gold prices. The opposite is true if inflation increases. Technical analysis of OANDA:XAUUSD outlook As sent to readers in yesterday morning's edition, gold currently has bearish conditions after the recovery momentum was defeated. Gold has fallen rapidly again and the price has dropped below the price point of 2,300 USD. With current price activity, gold is still leaning towards price possibilities with the main pressure from EMA21 and the current main trend being noticed at the trendline. As long as the rallies fail to take gold prices above the $2,340 technical level, price increases should only be considered short-term corrections and not an uptrend. In the short term, with current price activity, gold is likely to continue to test the $2,286 price level rather than the $2,282 price point of the 0.382% Fibonacci retracement. The intraday trend of gold price is a downtrend and is noted as follows. Support: 2,286 – 2,273USD Resistance: 2,300 – 2,306 – 2,324USD 🪙SELL XAUUSD | 2322 - 2320 ⚰️SL: 2326 ⬆️TP1: 2315 ⬆️TP2: 2310 🪙BUY XAUUSD | 2269 - 2271 ⚰️SL: 2265 ⬆️TP1: 2276 ⬆️TP2: 2281
OANDA:XAUUSD
by Xayah_trading
1
Slow Monday? Crude OilSo we took some Daily BSL last week on Friday and since we have sold off slowly. NWOG gapped down and this indicates for at least today some sort of Raid or hunt to also touch a PD array thats near to a discount. We have no major news catalyst today and that brings slow PA although it may travel its not ideal for scalpers. ( Lots of back and forth ) Wednesday and Thursday have crucial Crude Oil news events and these will be the optimum days to trade. For Today I am bearish until we reach these targets and or a htf Market structure shift. Be prepared to stay dynamic.
NYMEX:CL1!Short
by IamThattrader
XAUUSD Has confirmed a new Bullish Leg towards SeptemberGold (XAUUSD) held the 1D MA100 (red trend-line) clear and last week make a strong 1W green reversal candle. The 1D MA100 is the metal's most crucial long-term Support and the last two times it made contact with (February 12 2024 and November 13 2023), new Higher Highs where made. Right now the price is coming out a consolidation (blue Rectangle) similar to the one that ended on February 12 2024 and was a Higher Low on the (dashed) Channel Up. The minimum % rise of a Bullish Leg within the long-term (blue) Channel Up has been +15.26%. As a result, as long as the 1D MA100 keeps supporting, we will be bullish, targeting 2600 (a little below the +15.26% mark). ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
FX_IDC:XAUUSDLong
by TradingShot
GOLD → Pre-breakdown structure, but NFP is ahead. ↑ or ↓ ?FX:XAUUSD is updating the high within consolidation after rallying. Technically, this is a good sign, but NFP and unemployment are ahead. The news could either reinforce the move or completely derail it.... A nice bullish pattern is forming on D1 against resistance at 2365. The deceleration and consolidation in front of the level indicates bullish interest in further growth. But today it is worth paying attention to the fundamental background. From this point of view, the outlook for gold depends on the upcoming news and the reaction of the Fed. Based on previous data, traders expect Friday's employment report to show only 189K new jobs compared to 270K in the previous month, and the unemployment rate to remain unchanged. But the actual data plays a bigger role. Rising unemployment and slowing economic growth may support the gold, as the dollar may continue its localized decline on this background. But, unpredictable data can increase the volatility and affect the market structure in a very opposite way. Resistance levels: 2364. 2387 Support levels: 2355, 2350, 2341 Technically, on D1-H4 gold shows bullish prerequisites, but the economic component plays a big role, which can both support the current movement and reverse it up to liquidation and decline to 2340-2320. Regards R. Linda!
FX:XAUUSDLong
by RLinda
21
GOLD MARKET ANALYSIS AND COMMENTARY - [June 24 - June 28]On Friday (June 21), when data released by S&P Global showed that US PMI data for June were generally better than expected, the US Dollar strengthened and spot gold plummeted more than 38 USD. Spot gold closed down 1.63% at $2,321.64/ounce; Spot gold prices decreased 0.47% this week, with a total trading range between 2,368.74 and 2,306.68 USD. COMEX gold futures closed down 1.45% at $2,373.80/ounce; COMEX silver futures closed down 4.03 U.S. business activity hit a 26-month high in June amid a recovery in employment and a significant reduction in price pressures. The US Dollar Index (Dxy), closed up 0.16% at 105.83 on Friday. • Data released on Friday showed the June S&P Global Manufacturing PMI U.S. prelim was 51.7, the forecast was 51 and the previous was 51.3. • The initial value of services PMI is 55.1, the expected value is 53.7 and the previous value is 54.8. • The initial comprehensive PMI value is 54.6, the expected value is 53.5 and the previous value is 54.5. This is the highest level since April 2022, following May's 54.5. According to CME Group's FedWatch tool, traders now see a 65.9% chance the Fed will cut interest rates in September, little changed from late Thursday. Lower interest rates reduce the opportunity cost of holding non-yielding gold and this supports gold prices. Market uncertainty remains extremely high as markets try to guess the Fed's next move. About the Fed this past week Several Fed officials spoke during the past trading week, with many emphasizing that more evidence of cooling inflation is needed before cutting interest rates. These statements supported the trend of the US Dollar during the week. • Minneapolis Fed President Neel Kashkari said on Thursday that the Fed will bring inflation back to its 2% target, but estimated it could take 1 - 2 years. • Chicago Fed President Goolsby said Thursday that policymakers will be able to cut interest rates if inflation continues to cool as it did last month. In an interview Thursday, Goolsby talked about the May consumer prices report, which showed core inflation fell for the second straight month. • Fed Governor Coogler said Tuesday that it could be appropriate for the Fed to cut interest rates "later this year" if economic conditions develop as she expects. • St. Fed President Louis Mussallem said in his first major policy speech that it may take "several quarters" of data to support an interest rate cut. • New York Fed President Williams and Fed President Richmond Barkin were reluctant to provide a specific time frame for interest rate cuts, but all officials emphasized the important role of economic data in the process. policy promotion process. • Philadelphia Fed President Harker said Monday that based on his current forecast, he thinks a rate cut this year is appropriate. This underscores the signal that interest rates may remain high. • Over the weekend, Minneapolis Fed President Neel Kashkari said the Fed will wait until December before cutting interest rates. Federal Reserve policymakers have kept borrowing costs at their highest level in nearly a year and appear to be in no hurry to lower them. Just last week, Fed officials expected just one rate cut in 2024, down from three forecast in March. Notable economic data and events next week Tuesday: US consumer confidence index Wednesday: US new home sales index Thursday: Final Q1 GDP, weekly jobless claims, core durable goods, US pending home sales index Friday: PCE price index, personal income and spending Analysis of technical prospects for OANDA:XAUUSD On the daily chart, after gold failed to break the channel edge and the key technical point highlighted by readers in Friday's edition, it came under strong selling pressure. Selling pressure to bring gold prices back into position is also very important for the uptrend from the price channel in the short term, the closing level is also around the technical point of 2,324 USD. In terms of closing position, gold has conditions to continue falling with the target level possibly aiming at the original price point of 2,300 USD in the short term, however this will be more positive when the price channel is broken below. Returning to the price channel and falling below the 21-day moving average (EMA21) is a negative sign for gold prices from a technical perspective. The price channel noticed is a downtrend. The overall technical picture is constantly changing with very large price movements occurring regularly, and currently technical conditions are more supportive of the bearish possibility although there is still support in the pipeline. short term mentioned above. In the near term, the technical outlook is temporarily inclined to the possibility of price decline with main pressure from EMA21 and Fibonacci retracement 0.236%. And the notable technical levels will be listed again as follows. Support: 2,320 – 2,305 – 2,300USD Resistance: 2,340 – 2,345USD 📌Short-term trading plan for next week: on the H1 chart, we will initially watch to sell around the 2342 mark, and buy if the price drops to around the 2260 mark.
OANDA:XAUUSD
by Xayah_trading
GOLD falls below 2,330 USD, capital flows into China Gold ETFOANDA:XAUUSD falling rapidly again after recovering in yesterday's trading session, the current drop is around 9$ on the day to below 2,330$ and reported at the time of publication to be finished at 2,325$ or down 0.40%. . Investors are looking forward to US inflation data later this week, which could influence the direction of the Federal Reserve's monetary policy. The data focus this week is on Friday's US personal consumption expenditures (PCE) data, the Fed's preferred measure of inflation. San Francisco Fed President Mary Daly said the labor market is "about" to reach an inflection point and that further weakness will mean a rise in unemployment. Daly's comments showed she was leaning towards a dovish stance, adding: "Inflation is not the only risk we face right now." Four other Fed officials are being closely watched, including Fed Governors Lisa Cook and Michelle Bowman, who are expected to speak this week. According to CME's FedWatch tool, traders now see a 67.1% chance the Fed will cut interest rates in September. According to Bank of America, China Gold ETF continued to see capital inflows, increasing by 253 million USD. This is the 6th consecutive month of capital inflow. China's gold ETF purchases have been driven by stock market weakness, a depreciating local currency and falling bond yields, with holdings now at a record high. According to the World Gold Council (WGC), market forces still appear to provide a solid foundation as about 20 central banks surveyed expect to increase their gold holdings next year. Bank of America said China's physical market was slightly weaker but remained generally supportive, with jewelry sales continuing to hover near seasonal highs. Likewise, China's domestic market prices are still higher than international prices. Another notable piece of data is that the US Commodity Futures Trading Commission (CFTC) said that as of the week of June 18, speculative net long positions in COMEX gold futures contracts increased by 11,984 lots to 189,533 lot. Analysis of technical prospects for OANDA:XAUUSD On the daily chart, gold is declining after recovering and approaching the 0.236% Fibonacci retracement level, which is noted as the closest technical resistance on the daily gold price chart. . Although gold has declined, the price decline has not brought price activity below the price channel, the short-term trend price channel, this means gold still has support factors from the lower edge of the price channel and the technical level of 2,324 USD. comments to readers in yesterday's edition. Although gold still has bullish conditions, the lower edge of the price channel produced a significant recovery yesterday and now if it breaks below gold could face further sell-off. same target around 2,305 – 2,300USD, so open long positions should be protected after the price channel breaks below. During the day, gold still has a technical upside prospect with notable positions being listed as follows. Support: 2,324 – 2,320USD Resistance: 2,340 – 2,345USD 🪙SELL XAUUSD | 2346 - 2344 ⚰️SL: 2350 ⬆️TP1: 2339 ⬆️TP2: 2334 🪙BUY XAUUSD | 2299 - 2301 ⚰️SL: 2295 ⬆️TP1: 2306 ⬆️TP2: 2311
OANDA:XAUUSD
by Xayah_trading
1
GOLD Price Rides High on Fed Speculation as Market Awaits Datas🟡 The price of gold is riding high on the back of dovish Federal Reserve expectations, a trend that is gaining momentum during the US Independence Day holiday. This bullish rally is likely to see exaggerated movements due to low market liquidity and repositioning by traders ahead of the critical US Nonfarm Payrolls data set to be released on Friday. As gold continues its upward trajectory, we have identified a significant supply area where price movements could see a reversal. Over the past decade, this particular period of the year has consistently shown a bearish seasonality for gold prices. This historical trend suggests that despite the current bullish momentum, a downturn may be on the horizon. In preparation for this anticipated shift, we are setting a pending order in the supply area with the intention to short gold in the near future. This strategy aims to capitalize on the expected seasonal decline, leveraging the supply area's historical significance and the current market dynamics influenced by Federal Reserve policies and upcoming economic data. Our analysis indicates that while gold's bullish rally may continue in the short term, the confluence of historical seasonality and key economic data releases presents a compelling opportunity for a well-timed short position. By closely monitoring these factors, we aim to optimize our strategy and maximize potential returns as market conditions evolve. ✅ Please share your thoughts about XAU/USD in the comments section below and HIT LIKE if you appreciate my analysis. Don't forget to FOLLOW ME; you will help us a lot with this small contribution.
OANDA:XAUUSDLong
by FOREXN1
1
GOLD → From rally to consolidation. Rest before NFP...FX:XAUUSD strengthens on the back of Powell's comments. Light positive notes lead to DXY sell-off and a small rally of XAU to 2364. Today is a day off in the US and tomorrow is NFP..... It's a day off in the US and there is no liquidity. There may be high volatility during trading, but the movements may be weak. Locally, the price is testing resistance and liquidity area. Within a strong distribution there are not many chances to break through the mentioned area. Most likely the formation of a correction, and local bearish patterns appear on the chart, which may lead to a correction in order to gather energy before tomorrow's NFP. Resistance levels: 2364, 2375 Support levels: 2353, 2341 Technically, a false breakout after distribution is forming. There is no potential to go up now. High probability of correction or consolidation. Regards R. Linda!
FX:XAUUSDShort
by RLinda
5
GOLD → A change in mood amidst the comments and newsGOLD is testing the previously broken channel boundary. The market maker is driving the price into the liquidity area before the strong news. Powell corrected the direction a bit within yesterday's speech The chance of a September interest rate cut rises after Fed Chair Powell acknowledged progress on disinflation. Jeremy reverses course slightly to dovish. Markets are awaiting the release of the minutes of the latest FOMC meeting (due later today) to get more information on the Fed's next steps. The regulator needs more data before it can start cutting rates. Data from the US labor sector is also in focus: All eyes now turn to ADP's US employment change report after JOLTS showed a rise in job openings on Tuesday. The next important event for the gold price remains the minutes of the June 11-12 Federal Reserve meeting, which could shed light on the central bank's outlook on rates and inflation, having a significant impact on the value of the U.S. dollar and the gold price. Resistance levels: 2346, 2352, 2363, 2380 Support levels: 2341, 2328, 2319 Technically, we have buyers appearing on the local change of fundamental background. The bulls are winning within the consolidation. There is a possibility of strengthening, but we should pay attention to the news.... Regards R. Linda!
FX:XAUUSDLong
by RLinda
10
GOLD has rising technical conditions, geopolitical risksDespite the increase in the US Dollar and US Bond Yields, spot gold prices still increased by nearly 32 USD in yesterday's trading day, currently reported at about 2,360 USD/ounce. Data released by the US on Thursday showed that the number of initial applications for unemployment benefits in the US in the week to June 15 was 238,000, compared to the previous forecast of 235,000. The number of new homes built in the US in May fell to the slowest level in four years as rising interest rates weakened the housing sector's growth momentum earlier this year. Data showed new home construction in the US fell at an annual rate of 5.5% in May, compared with expectations for a 1.1% increase. In addition, the total number of construction permits in the US in May was 1.386 million, lower than the expected level of 1.45 million. Data last week showed labor market and price pressures were easing, while weak retail sales data released on Tuesday showed economic activity remained sluggish in the second quarter. According to data from CME Fed's "FedWatch," traders currently see about a 64.1% chance that the Fed will cut interest rates in September. Because gold does not yield interest, interest rates are falling, reducing the opportunity cost of holding gold and driving up gold prices. Rising geopolitical risks have fueled gold's bullish trend. Tensions are rising in the Middle East as Israel threatens to attack Lebanon. Combined with the recently signed agreement between Russia and North Korea through President Putin's state visit, this could increase the appeal of gold as it increases geopolitical risks in the region. , is currently trading near key resistance levels reported to readers in yesterday's edition. Gold is still rising on safe-haven demand as global geopolitical threat levels rise again and global powers move troops on the global strategic chessboard. Analysis of technical prospects for OANDA:XAUUSD On the daily chart, gold is temporarily limited by key resistance that readers noticed in yesterday's edition after gold moved above the EMA21 level and broke out of the price channel. The current $2,364 technical level is the nearest notable resistance and once it is broken gold has the wherewithal to head for a new bull run with a near-term target of $2,400 raw price. On the overall technical picture, gold is technically well positioned to rally with the nearest support noted by the EMA21 level, the 0.236% Fibonacci retracement, and the $2,345 technical point as previous resistance for now. is to become support. During the day, gold's technical outlook supports the possibility of price increases with notable technical levels listed as follows. Support: 2,345 – 2,340USD Resistance: 2,364USD 🪙SELL XAUUSD | 2400 - 2398 ⚰️SL: 2404 ⬆️TP1: 2393 ⬆️TP2: 2388 🪙BUY XAUUSD | 2329 - 2331 ⚰️SL: 2325 ⬆️TP1: 2336 ⬆️TP2: 2341
OANDA:XAUUSD
by Xayah_trading
1
GOLD → 2319 keeps the market from falling, but for how long?FX:XAUUSD GOLD is still consolidating within the local range of 2340 - 2320, which is formed after breaking a strong trend line support. The dollar index is still heading northward Gold is still unable to break downside resistance, as well as forming price consolidation below previously broken support. The key risk zone on which the bulls put so much is 2319-2320. A breakdown and consolidation of the price below this line may trigger a rally to 2290-2275. All eyes are on Fed Chairman Jerome Powell's speech today at 13:30 GMT The recent rise in gold prices can be attributed to lower US Treasury yields as traders resort to profit taking ahead of important US events. ISM, FOMC, NFP are ahead, but the fundamental background for gold is still weak and buyers do not believe in upward movement yet. Resistance levels: 2332, 2341 Support levels: 2319, 2306, 2297 Technically, a bearish pattern is developing on the senior timeframe, unless Powell says something unpredictable today, the general background will remain the same, which will be favorable for further price decline to these areas. Regards R. Linda!
FX:XAUUSDShort
by RLinda
21
GOLD → Countertrend correction or consolidation before a fall ↓FX:XAUUSD has been updating the local minimum since the opening of the session and confirms the bearish nature of the market. The price is heading towards the area of interest and liquidity before a possible decline Today the focus is on the news: S&P PMI, ISM. Traders are expecting relatively warm data, but, at the moment, everything revolves around the perception of inflation news regarding the inflation itself in the Fed's further view on monetary policy. High volatility is possible. Technically, on D1 gold is trading in bearish territory and at the moment, after updating the local low, the price is heading towards the liquidity zone, from which the sell-offs may increase. There is a possibility that before further decline the price may go deeper, for example, to test the imbalance area, as well as the previously broken channel boundary (liquidity capture). Resistance levels: 2332, 2341, 2346 Support levels: 2325, 2315, 2306 It is possible that the situation may change, as traders are overreacting to inflation-related news, but at the moment, on the high timeframe is formed exclusively bearish setup on the negative fundamental background. Regards R. Linda!
FX:XAUUSDShort
by RLinda
23
Gold & Silver Build Momentum Into A New Rally PhaseAre you following my videos/research? If not, pay attention. Gold and Silver will start to build momentum over the next few weeks - eventually moving 5 to 12% higher before mid-September. This is a huge move for metals and will prompt Gold to attempt a rally toward $2750 while Silver attempts to rally above $32 - possibly targeting $34. The dynamics of the global markets and the pending US POTUS elections will continue to drive global traders harder into precious metals as a hedge. Nothing has changed. The only thing that is new and taking place right now is the pause in metals is nearing an end point - which means we shift into bullish trending again. Get ready - here we go (BULLISH)
COMEX:SI1!Long
by BradMatheny