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Break and retest strategyIf the price successfully retests the support or resistance level and bounces off it, this confirms that the level is valid and that it can be used as a trading signal. . . However, it is important to note that not all breaks and retests are successful. Sometimes, the price may break through a resistance level and then immediately retrace back to the level without giving traders an opportunity to enter the market. This is known as a false break and can result in losses for traders who enter the market too early. . .
OANDA:XAUUSDLong
by Goldminer10
Still in the bullish trend channel, entry buyWorld gold prices skyrocketed as the level of inflation, and its series of impacts on US monetary policy, boosted demand for holding the precious metal. On the other hand, gold prices are also supported by increased reserves at the Central Bank of China. However, analysts at Kitco Metals believe that today's increase in gold prices mainly stems from risk concerns when the President of Iran died in a plane crash. Meanwhile, a Chinese oil tanker was attacked by Houthi missiles in the Red Sea, increasing geopolitical tensions, increasing the need to hold gold to preserve capital.
TVC:GOLDLong
by FalCol_TradingMaster
Gold increased on the first day of the week,selling to entry buyWorld gold prices tend to increase with spot gold increasing by 2.3 USD compared to last week's closing level to 2,416.7 USD/ounce. Last week, world gold prices fluctuated strongly as the market continuously received important economic data along with statements from US Federal Reserve (Fed) officials. This precious metal started the trading week at 2,361.17 USD/ounce and increased steadily beyond the 2,400 USD/ounce mark when Fed Chairman Jerome Powell's statement and economic data confirmed that interest rates will no further increase and the Fed may soon loosen policy this year. Kitco News' latest weekly gold survey results show the majority of experts believe gold prices could reach or surpass all-time highs, while retail traders are cautious. this precious metal. After an exciting week, the market is expected to be quiet this week with little important economic data released. The information that is believed to be able to affect the direction of gold is the minutes of the Fed's monetary policy meeting ending on May 1. However, most experts believe that the content of the minutes will not exceed investors' expectations, so the gold market will have little reaction unless there is unexpected information. In addition, the market also awaits statements from Fed officials. Six officials are expected to speak early this week.
OANDA:XAUUSDShort
by FalCol_TradingMaster
Market stabilizes ahead of today's CPI data 💥 GOLD information World gold prices increased with spot gold increasing by 21.9 USD to 2,357.6 USD/ounce. Gold futures last traded at 2,363.6 USD/ounce, up 21.1 USD compared to yesterday morning. Weakness in the USD and Treasury yields following US producer price data for April provided a boost to the yellow metal. The dollar fell 0.2% after US data made gold cheaper for buyers holding other currencies. Yields on the benchmark 10-year Treasury note also fell, reducing the opportunity cost of holding this non-couponing asset. The US producer price index (PPI) in April increased by 0.5% over the previous month, a stronger increase than the forecast of 0.3%. Core PPI (excluding volatile food and energy) also rose 0.5% in April versus forecasts of 0.2%. However, March PPI was revised down to -0.1% from a 0.2% increase in the initial report. Although the April PPI report supported those who expected the US Federal Reserve (Fed) to delay interest rate cuts, the sharp downward revision to the March PPI clearly tempered the increase slightly. larger than expected in April PPI. 💥GOLD PLAN 05/15 Support: 2350 - 2342 - 2330 - 2324 - 2316- 2306 Resistance: 2362 - 2372 - 2378 - 2390 - 2400 - 2408 Breakout: Sell 2336 - 2362 SELL price range 2390 - 2392 stop 2396 SELL price range 2376 - 2378 stop 2382 BUY price range 2346 - 2348 stop 2342 BUY price range 2324 - 2322 stop 2318
OANDA:XAUUSD
by TVS-Trader
GOLD The scenario of creating a new peak is very closeRegarding developments and results last week: The international gold market received a lot of economic information from major economies such as the US, China, and Europe. In particular, the US releases producer price index data. (PPI) and consumer price index (CPI) April 2024. Looking at gold's volatility and fluctuation range this week, it is predicted that this precious metal will return to record highs sooner than expected. Conclusion about gold and trend: I am optimistic about gold next week. The USD is losing a bit of value along with Treasury bond yields also falling. Additionally, technically based on tests last month and to date, there are signs of acceptance above the $2400 price point. This opens the door to a possible increase to $2,500. Overall, gold confirmed a trend change above the $2400 level which buyers actively defended on the basis of a bullish wave materializing. It is likely that the market will try to change the trend. At this point, the realization phase will take shape. We await confirmation of a trend change for further strengthening. After gold moved above the EMA21 level it also achieved the target increases noticed by readers in last week's weekly edition at $2,400 and $2,417. Temporarily, gold is limited by resistance at $2,417 but bullish momentum remains strong with the RSI pointing up without reaching the overbought level. Gold's move above $2,417 will continue to push it toward an all-time high in the $2,430 area. Meanwhile, even if gold corrects downward, as long as it remains operating within the trend price channel ©, the short-term outlook is still bullish and price activity above EMA21 gives it more grounds to rise. More prices in the near future. In the coming week, the technical conditions of gold prices lean towards a bullish outlook and notable price levels will be listed as follows. Support: 2,400 – 2,397USD Resistance: 2,417 – 2,430USD
OANDA:XAUUSD
by TVS-Trader
Entry buy Gold for todayWorld gold prices increased in the context of a sharp decline in the USD index in recent days and continuous gold purchases by central banks around the world. Gold prices turned positive for the week early Wednesday morning as the US April CPI report showed an improvement over the previous month. By Friday, the bullish trend had returned sending gold prices in excess of $2,400 an ounce. And after surpassing $2,400 per ounce, Wall Street experts believe gold prices this week could reach or exceed all-time highs. The latest weekly survey by Kitco News shows that Wall Street is maintaining a strong bullish sentiment on gold. Up to 11 out of 14 analysts forecast that gold prices will continue to increase. Only 2 analysts expect prices to decline and some experts expect the market to move sideways. Individual consultants are more cautious but still lean towards the possibility of this precious metal going up. Specifically, 58% of 149 people asked about the price increase. 21% were predicted to decrease and the remaining number was redefined. According to analysis, the decline in the USD index on the international market and the decline in US government bonds have supported gold prices towards the peak area. After surpassing the 2,400 USD/ounce area, gold prices may continue to increase, even towards the 2,500 USD/ounce area - a new high in history.
TVC:GOLDLong
by FalCol_TradingMaster
Don’t chase long gold too muchGold rose strongly today, reaching its highest level near 2419. It has now fallen back and is trading near 2406. I have been emphasizing since yesterday to close all short positions in the 2380-2375 area and commit to long gold. After going long gold yesterday, we continued to go long gold near the 2382 position today and successfully hit TP: 2390. .Today continues to end in profit in trading. At present, gold has risen strongly to near the 2419 position. The bullish sentiment in the market is high and the market following sentiment is prevalent. Therefore, I do not recommend shorting gold. After all, gold may continue to rise due to the market's pursuit; although the trend of gold is still very strong, but since today is Friday, I don’t recommend going long on gold directly at the moment, because gold immediately fell back after rising high many times, forming multiple upper shadow lines, and faced the resistance of the previous sub-high 2418-2420 area. Therefore, it is not recommended to directly pursue long gold before gold falls back to prevent short-term gold decline caused by profit realization.So if your trading style is prudent, I suggest you wait and see first and don’t rush to participate in the transaction; if you have an aggressive trading style, for now, I don’t recommend chasing long gold directly.On the contrary, you can consider trying to short gold in the 2414-2416 area to gain short-term short profits first, and wait for gold to fall back before going long gold! I share detailed trading strategies and trading signals every day. You can follow the channel at the bottom of the article to get detailed trading signals and learn trading logic. People who are already in it have already made a lot of money. Let us enjoy the journey of making money together. !
OANDA:XAUUSDLong
by Trading-Hawkeye
GOLD-uptrend U.S. consumer prices rose less than expected in April, suggesting inflation resumed its downward trend at the start of the second quarter, boosting financial market expectations for a September interest rate cut. At the same time, under the influence of the market, the US dollar fell sharply, providing greater impetus to gold’s rise. Today, we will pay attention to the changes in the number of initial jobless claims in the United States and the performance of real estate market data. Pay attention to the monthly rate of U.S. industrial output in April and the speeches of Federal Reserve officials, and pay attention to news related to the geopolitical situation. The current gold price is a very obvious strong rise. It has just risen sharply during the cycle and gradually broke through the upper high point. If there is no unexpected data and news on Thursday and Friday, the possibility of reversal is unlikely, so now it is rising. Trend, follow the trend, wait for the support point to buy and the probability of profit is higher. You can see that 2378 is the turning point of strength and weakness. You can buy at 2378-2380 and set SL. If it falls below 2375, gold will change the pattern of strong rise and turn into a shock and slow rise. The above strategies are for your reference, but the market changes quickly, and you need to change your strategies in real time according to the trend, so that your success rate will increase. What if you don't know how to trade? Join me as I analyze and provide ideas every day
FX:XAUUSD
by UnknownUnicorn71050047
Gold is forecast to continue to decline deeplyGold prices steadied in Asian trading today after posting strong overnight gains as some mild inflation data dragged the dollar to a one-month low and raised expectations of a rate cut. capacity. The yellow metal has now returned to record highs reached in May, as traders bet more that the US Federal Reserve (FED) will start cutting interest rates as soon as September. The dollar fell sharply on Wednesday on this view, which should benefit overall metal prices. Gold prices are up more than 1% from Wednesday after data showed US consumer price index inflation fell in April from March, while core CPI also fell from the previous month. The figures, followed by weaker-than-expected retail sales data, raised hopes that inflation will ease in the coming months, giving the Fed more confidence in starting to cut interest rates. The CME Fedwatch tool shows traders are pricing in a higher likelihood of a 25 basis point cut in September, at nearly 54%. High interest rates push up the opportunity cost of investing in gold and other precious metals because they do not bring direct profits. The yellow metal could also benefit from increased safe-haven demand if the US economy cools further this year.
TVC:GOLDShort
by FalCol_TradingMaster
Slight fluctuations after a series of increasing daysWorld gold prices turned down with spot gold dropping 9.5 USD to 2,375.5 USD/ounce. Gold futures last traded at $2,380.90 an ounce, down $14 from the bright spot. According to Kitco Metals senior analyst Jim Wyckoff, gold turned around due to normal pressure after recent gains. On that side, the recovery of the US Dollar index also added strength to gold. The dollar rose 0.2% after hitting a multi-month low in the previous session as the latest data showed US consumer prices rose less than expected in April. Meanwhile, New York Fed President John Williams said that the positive news surrounding the cooling off job is not enough for the US Central Bank to make an early decision to slow down. Although gold turned down, most experts are still optimistic about gold in the future, predicting that this precious metal will soon conquer new records in the coming months. MarketGauge's director of trading education and research Michele Schneider said that while it doesn't want to start a cycle of monetary policy easing just yet, it's clear the Fed also doesn't want to push interest rates higher and that conditions will eventually deliver. solid level of support for the precious type
OANDA:XAUUSDShort
by FalCol_TradingMaster
Gold continues to trade around the all-time highs.XAUUSD - 24h expiry Price action continues to trade around the all-time highs. Buying continued from the 61.8% pullback level of 2372.7. Previous resistance at 2370 now becomes support. The primary trend remains bullish. Preferred trade is to buy on dips. 20 4hour EMA is at 2366.4. We look to Buy at 2370.2 (stop at 2356.2) Our profit targets will be 2405.2 and 2411.2 Resistance: 2397.5 / 2417.9 / 2431.6 Support: 2380.0 / 2370.0 / 2355.0 Risk Disclaimer The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit. You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
OANDA:XAUUSDLong
by OANDA
Gold prices retreated in accordance with market expectations💥 GOLD information World gold prices decreased with spot gold down 27.2 USD to 2,335.7 USD/ounce. Gold futures last traded at 2,342.2 USD/ounce, down 32.8 USD compared to yesterday morning. Short-term futures traders rushed to book profits after recent gains put pressure on the yellow metal in early trading of the week. Meanwhile, the market is still waiting for further data to know more about the interest rate direction of the US Federal Reserve (Fed). Currently, traders and investors are waiting for important US inflation data for April with the producer price index to be released on May 14 and the consumer price index on May 15. 5. PPI is forecast to increase 0.3% over the previous month, compared to a 0.2% increase in the March report. CPI is forecast to increase 0.4%, unchanged from the March report. CPI Annual growth in April is forecast to increase by 3.6% compared to a 3.8% increase in the March report. Recently, Fed officials have said that the Fed will loosen monetary policy if there is evidence that inflation declines sustainably. Therefore, this data is very important and is expected to have a great impact on the future direction of gold. 💥 Technically Gold retreated to around 2330 with support from EMA 89. Gold price rebounded from this area, showing that the main trend of the market is still uptrend. It can be said that gold is stuck within the trendline border in the h4 frame and is heading towards the lower trendline area. The support level of 2330 is still enough to push the gold price to 2360 or 2375 if it remains above the important technical area of 2330. If you break out of 2375, then Correctly determined according to the current market trend is that gold will touch the old peak of 2432 in June or September.
OANDA:XAUUSD
by TVS-Trader
Gold back to 2400?Gold prices continued their uptrend on Thursday and rose more than 1% as US Treasury yields fell, reducing the greenback's appeal. Labor market data from the United States was weaker, increasing the chances of an interest rate cut by the Federal Reserve despite facing inflationary pressures. XAU/USD's daily chart shows it has slowed its recovery around the slightly elevated 20 Simple Moving Average (SMA), at around $2,345. Longer moving averages maintain their upward slope well below current levels, while technical indicators remain below midlines with no clear directional strength. Overall, Gold extends its consolidation phase ahead of a suitable directional catalyst. Looking ahead and according to the 4-hour chart, XAU/USD is neutral. The pair met with intraday buyers around the bullish 200 SMA but failed to extend gains beyond the slightly bearish 100 SMA. Finally, technical indicators remained unchanged at positive levels, showing that bulls are more willing to jump in. The resistance zone at 2375 is currently expected by investors to be able to reduce the increase throughout today. The price range of 2375 and 2352 will be the trading range in today's US session. If the recovery level is nice enough, gold's destination will return to around 2400 soon. SELL zone 2375-2377 SL 2380 BUY zone 2353-2351 SL 2348
OANDA:XAUUSD
by TVS-Trader
Gold continues to go up, entry buy todayCooling US inflation pushed gold prices up nearly 30 USD an ounce, and helped Wall Street set a new record. Closing the trading session on May 15, each ounce of world gold for immediate delivery increased by 27 USD to 2,385 USD. During the session, gold price at one point touched 2,390 USD - the highest in nearly a month. The market went up due to the weakening of the USD and falling US government bond yields, after the country announced that April inflation increased more slowly than forecast. This data has strengthened the possibility of the US Federal Reserve (Fed) reducing interest rates. The US consumer price index (CPI) increased by 0.3% last month. In February and March, the increase was 0.4%. This shows that inflation has restored its downward trend, giving investors more confidence that the Fed will lower interest rates from September. CPI "may be an early indicator showing that in the long term, inflation will cool down and the Fed will have the first decision to reduce interest rates," said Phillip Streible - market strategist at Blue Line Futures. CME FedWatch tracker shows that investors currently place a 74% chance of a Fed rate cut in September. The index tracking USD prices with a basket of major currencies - Dollar Index yesterday decreased 0.6%, reaching its lowest level in more than a month. This makes gold more attractive to buyers outside the US. The 10-year US government bond yield also fell to a one-month low.
TVC:GOLDLong
by FalCol_TradingMaster
Still determining the upward price trend, today's trading strateWorld gold prices increased sharply with spot gold increasing by 27.4 USD to 2,385 USD/ounce. Gold futures last traded at 2,391.8 USD/ounce, up 31.9 USD compared to yesterday morning. Gold prices rose to their highest level in more than 3 weeks on May 15 (US time) thanks to support from the weakness of the greenback and falling yields after the latest inflation report. Published data showed that the US consumer price index in April increased less than expected, increasing the possibility of interest rate cuts by the US Federal Reserve (Fed). The dollar fell 0.5% to its lowest level in more than a month, making gold more attractive to holders of other currencies. Benchmark 10-year Treasury yields also hit a more than 1-month low. The CPI data “could be an early sign that over time inflation will cool and the Fed will make its first rate cut,” Blue Line Futures chief market strategist Phillip Streible said. The CPI rose 0.3% last month after rising 0.4% in March and February, suggesting inflation continued its downward trend at the beginning of the second quarter. This has pushed up financial market expectations of an interest rate cut in September. According to Reuters poll results, economists forecast CPI to increase 0.4% in the month and up 3.4% over the month. with the same period last year. Technically, bullish gold futures have the solid overall near-term technical advantage. Kitco Metals senior analyst Jim Wyckoff wrote in a note that bulls' next upside target is to produce a close for June futures above solid resistance. probably at 2,400 USD/ounce.
OANDA:XAUUSDLong
by FalCol_TradingMaster
GOLD-Pay attention to the impact of CPI data Federal Reserve Chairman Jerome Powell said he was less confident than before that inflation will come down. However, it emphasized that it does not believe that the next step may be to raise interest rates, and is more likely to maintain the policy interest rate at the current level. The U.S. economy is performing very well and has a very strong labor market. GDP is expected to continue growing at 2% or higher. The PPI data is actually quite mixed, with uncertainty as to whether inflation will persist. Today we are paying attention to the seasonally adjusted CPI annual rate data in the United States at the end of April. It is expected to have a greater impact on the market. Please pay attention to the risks. Since gold's slow decline to bottom out at 2330 on Monday, it has turned from a weak shock to a strong shock. It can be seen from Tuesday's U.S. market that even if the data is not conducive to gold, it is difficult to suppress the slow rise of gold. The U.S. market has been gradually rising. performance, and fell back to a high of 2360 for the second time. It is determined that today is a strong performance. Therefore, the current view is that it is a strong rise for the time being. From a technical point of view, the daily line closed above the Bollinger Band on Tuesday. Although it has not yet formed a unilateral rise, the current strong state may reach the daily Bollinger Band high of around 2378, including the 4H cycle. , during the continuous rise, the 4H K-line maintained strong continuous green candles, and the rising momentum was very strong. Let’s first look at the Bollinger upper track high near 2372 for Wednesday’s rise. If the European market continues to rise, I think you can sell when it reaches the resistance point of 2375-2378 for the first time, or wait for the support point of 2342-2345 to buy, and set the SL There is CPI data in the US market. It is expected that the market will fluctuate greatly and the risk will be relatively high. If you don’t want to bet on the data, you can wait for the data to be released and follow the trend to trade. The above strategies are for your reference, but the market changes quickly, and you need to change your strategies in real time according to the trend, so that your success rate will increase. What if you don't know how to trade? Join me as I analyze and provide ideas every day
FX:XAUUSD
by UnknownUnicorn71050047
General trading strategy today, which areas should Sell and Buy?Gold prices in Asia increased in the afternoon trading session on May 14, as the market is awaiting important inflation reports expected to be released this week, for more clues about the speed and scale of interest cuts. interest rate of the US Federal Reserve (Fed) this year. Spot gold price increased 0.2% to 2,338.78 USD/ounce, while gold futures price increased 0.1% to 2,344.70 USD/ounce. The US producer price index (PPI) is expected to be announced at 6:30 p.m. Vietnam time, followed by the consumer price index (CPI) on May 15. According to a Reuters poll, CPI figures are forecast to show core inflation rising 0.3% in April from the previous month, down from 0.4% in March, pulling down the inflation rate. annual inflation down to 3.6%. If gold can hold above the level of 2,320-2,330 USD/ounce, it is a positive sign, meaning gold is gaining momentum in the short term. And with the push from weaker CPI figures (if any), he thinks gold is likely to rise to all-time highs in the short term. The weak jobs report and lower-than-expected US non-farm payrolls reported in April released last week have increased expectations about the possibility of the Fed cutting interest rates this year. According to a majority of economists polled by Reuters news agency, the Fed is expected to cut interest rates twice this year, starting in September.
TVC:GOLDShort
by FalCol_TradingMaster
Trading strategy after PPI news, gold increased sharply againWorld gold prices increased with spot gold increasing by 21.9 USD to 2,357.6 USD/ounce. Gold futures last traded at 2,363.6 USD/ounce, up 21.1 USD compared to yesterday morning. Weakness in the USD and Treasury yields following US producer price data for April provided a boost to the yellow metal. The dollar fell 0.2% after US data made gold cheaper for buyers holding other currencies. Yields on the benchmark 10-year Treasury note also fell, reducing the opportunity cost of holding this non-couponing asset. The US producer price index (PPI) in April increased by 0.5% over the previous month, a stronger increase than the forecast of 0.3%. Core PPI (excluding volatile food and energy) also rose 0.5% in April versus forecasts of 0.2%. However, March PPI was revised down to -0.1% from a 0.2% increase in the initial report. Although the April PPI report supported those who expected the US Federal Reserve (Fed) to delay interest rate cuts, the sharp downward revision to the March PPI clearly tempered the increase slightly. larger than expected in April PPI.
OANDA:XAUUSDShort
by FalCol_TradingMaster
Gold trading strategy today, identify uptrendWorld gold prices decreased with spot gold down 27.2 USD to 2,335.7 USD/ounce. Gold futures last traded at 2,342.2 USD/ounce, down 32.8 USD compared to yesterday morning. Short-term futures traders rushed to book profits after recent gains put pressure on the yellow metal in early trading of the week. Meanwhile, the market is still waiting for further data to know more about the interest rate direction of the US Federal Reserve (Fed). Currently, traders and investors are waiting for important US inflation data for April with the producer price index to be released on May 14 and the consumer price index on May 15. 5. PPI is forecast to increase 0.3% over the previous month, compared to a 0.2% increase in the March report. CPI is forecast to increase 0.4%, unchanged from the March report. CPI Annual growth in April is forecast to increase by 3.6% compared to a 3.8% increase in the March report. Recently, Fed officials have said that the Fed will loosen monetary policy if there is evidence that inflation declines sustainably. Therefore, this data is very important and is expected to have a great impact on the future direction of gold. In a recent interview with Kitco News, global investment strategist Tim Hayes of Ned Davis Research expects gold prices to eventually surpass last month's record high above $2,448 an ounce, but the breakout could may not happen until the Fed actually cuts interest rates.
OANDA:XAUUSDLong
by FalCol_TradingMaster