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traders await US CPI on ThursdayGold price remains confined in a narrow range as traders await US CPI on Thursday 10 January 2024 • Gold price extends its consolidative price move above a multi-week low touched on Monday. •The Fed rate cut uncertainty is holding back traders from placing aggressive directional bets. • Elevated US bond yields underpin the USD and cap gains ahead of the US CPI on Thursday. Technical Analysis: Gold price bears await a break below the 50-day SMA support near $2,017 area From a technical perspective, the multi-week low, around the $2,017 area touched on Monday, which now coincides with the 50-day Simple Moving Average (SMA), should protect the immediate downside. A convincing break below could make the gold price vulnerable to accelerate the slide towards the $2,000 psychological mark. Some follow-through selling will expose the December swing low, around the $1,973 region, before the XAU/USD eventually drops to the $1,965-1,963 confluence, comprising the 100- and 200-day SMAs. On the flip side, the $2,040-2,042 zone might continue to act as an immediate strong barrier, above which the Gold price could aim to retest Friday's swing high, around the $2,064 area. The next relevant hurdle is pegged near the $2,077 area, which if cleared decisively will negate any near-term negative outlook and set the stage for a move towards reclaiming the $2,100 round figure. Gold price (XAU/USD) met with some supply following an uptick to the $2,040 area on Tuesday and finally settled with only modest gains on Tuesday. The precious metal continues with its struggle to gain any meaningful traction during the Asian session on Wednesday as traders seek more clarity on the Federal Reserve's (Fed) rate cut path before placing directional bets. Hence, the market focus will remain glued to the release of the latest consumer inflation figures from the United States (US) due on Thursday, which will play a key role in determining the near-term trajectory for the commodity. Ahead of the key data risk, investors have been scaling back their expectations for a more aggressive policy easing by the Fed in the wake of a robust December US jobs report on Friday, which pointed to a still-resilient labor market. This remains supportive of elevated US Treasury bond yields and acts as a tailwind for the US Dollar (USD), capping the non-yielding Gold price. That said, geopolitical risks stemming from the Israel-Hamas war and persistent worries over a slow economic recovery in China – the world's second-largest economy – should lend some support to the safe-haven precious metal. Daily Digest Market Movers: Gold price struggles for a firm direction amid mixed fundamental cues • The uncertainty over the timing of when the Federal Reserve will start cutting interest rates holds back traders from placing fresh directional bets around the gold price. The New York Fed reported on Monday that US consumers' projection of inflation fell to the lowest level in nearly three years in December, raising bets for an imminent shift in the Fed's policy stance. Meanwhile, the resilient US economy, which is experiencing above-target inflation, gives the US central bank more headroom to keep interest rates higher for longer. • This allows the yield in the benchmark 10-year US government bond to hold above the 4.0% threshold, which lends support to the US Dollar and caps the yellow metal. Bearish traders, however, seem reluctant and prefer to wait on the sidelines ahead of the latest US consumer inflation figures, due for release on Thursday. Citing a senior US Defense Department official, CNBC reported late Tuesday that Iran-backed Houthi militants launched the largest attack to date on commercial merchant vessels. A senior People's Bank of China official said this Wednesday that the central bank may use monetary policy tools to provide strong support for reasonable credit growth. The official added that the PBoC will strengthen its counter-cyclical and cross-cycle policy adjustments to create favorable conditions for the country's economic growth. • There isn't any relevant market-moving macro data scheduled for release from the US on Wednesday, leaving the XAU/USD at the mercy of the USD price dynamics.
OANDA:XAUUSD
by sniper_2022
XAU/USD holds gains amid risk aversion and falling yields Technical outlook Gold’s daily chart portrays the yellow metal upward bias after finding support at the 50-day moving average (DMA) tested Monday, with the level rejecting lower prices. This is despite posting losses of almost 1% yesterday. Although buyers have regained some control, downside risks remain if XAU/USD slides below today’s low of $2026, opening the door to challenge the 50-DMA at $2014, ahead of testing the $2000 figure. On the flip side, the XAU/USD first resistance would be $2050, followed by the January 5 daily high at $2063.98. •US economic data shows improved small business sentiment and a narrowing trade deficit, impacting gold dynamics. •Investors await US CPI data for further direction, with Gold's movement likely influenced by inflation expectations. Gold price clings to decent gains above 0.15% during the mid-North American session on Tuesday, amid risk aversion, alongside overall US Dollar (USD) strength across the board. US Treasury bond yields had erased their previous gains, a tailwind for the yellow metal, which has an inverted correlation, particularly with the 10-year benchmark note yield. At the time of writing, XAU/USD trades at $2030 after hitting a daily low of $2026.17. XAU/USD rises, although US bond yields are dropping Risk aversion is the name of the game; although it is boosting Gold’s price, the Greenback is gaining some ground against the non-yielding metal. The economic calendar in the United States was scarce, though it revealed the NFIB Business Optimism Survey for December, which showed small business sentiment improved for the first time in five months, though it remains below its 50-year average of 98, came at 91.90. The US Department of Commerce announced that the US trade deficit narrowed as the Trade Balance for November came at $-63.2 billion, less than estimates of $-65 billion and October’s $-64.5 billion. That sponsored XAU/USD’s leg up toward its daily high of $2042.01 before retreating toward current spot prices. Although US Treasury bond yields remain depressed, the Greenback posted solid gains, as shown by the US Dollar Index (DXY). The DXY, a basket of six currencies vs. the US Dollar, climbs 0.20% at 102.49. Meanwhile, Gold’s price action is expected to remain constrained as traders brace for December’s inflation data in the United States. The Consumer Price Index (CPI) is expected to tick up by 3.3% YoY, while the core is expected at 3.8% YoY, lower than the previous reading.
OANDA:XAUUSDLong
by sniper_2022
1
XAUUSD: 2/1 Today Analysis and StrategyGold technical chart daily line upper pressure 2088 and lower support 2053-2040 In four hours, the upper pressure is 2069-2088 and the lower support is 2066. One hour upper pressure 2073-2080 lower support 2066 Operation suggestions: Gold is currently consolidating in a range. As shown in the figure above, go long above 2069 and short below 2066. Long order: long near 2069 Long order: long around 2040 Short order: short around 2065 You don’t necessarily trade according to the points I mentioned, technical analysis only provides trading direction!
OANDA:XAUUSD
by ActuaryJ
Wednesday: Operation between 2055~2075Gold adjusted and closed again with a small negative structure, and the U.S. index continued to rise. Gold and silver rebounded high. Gold fluctuated widely yesterday and rose sharply during the day. The European and American markets formed a surge and fell back to adjust downward and penetrated 2060 in late trading and fell to a low near 2055. The daily line closed continuously negative and tested the MA10 daily moving average support close to the 53 line. The short-cycle four-hour chart and hour The price in the chart is running in the middle and lower rails of the Bollinger Bands. The central axis of the RSI indicator is below the 50 value. The moving average system maintains its opening downward. The MA10 is suppressing 2066 on the 10th. The US index continues to rise strongly and maintains a strong closing. The daily line is positive, which has a certain impact on gold and silver. suppress. Gold trading today is mainly selling at high prices, followed by buying at low prices. Yesterday's gold market trend was consistent with my prediction. It fluctuated within the range, with 2075 short and 2070 short respectively. It fell as expected and profited! Now that the market has fallen to the support below, it’s time to start going long! Rely on the support of 2055 to go long in early trading! Looking at gold in 4 hours, the general direction of the shock trend after the rise remains unchanged is the bullish trend! The watershed between long and short is the 2050 position. Only when it truly falls below 2050 will the downtrend begin! Now the market continues to fluctuate within the range of 2055-2075. It is now exactly the 4-hour Bollinger lower track support position, and there is a rebound expectation! Gold relies on the support of 2055 to go long, and the top continues to pay attention to the pressure of 2075! For the time being, sell high and buy low within the range! Complete signal 👇
OANDA:XAUUSD
by Short-termTaurus
Monday: Gold operates in the range of 2050~2080Gold is now supported by its decline, and there is demand for a rebound. The Asian market rose by $14! From the trend point of view, gold is now undergoing a shock adjustment trend after a sharp rise. It is expected to maintain a shock within the range of 2050-2080. The direction will be chosen after the shock is over! The current operation is to sell high and buy low! Gold's decline has now found support at the 2055 line. The upper pressure is the hourly upper rail and the rebound pressure at 2073. The upper level is suppressed by 2081. It is expected that it will test the 2050 line again after encountering resistance!
OANDA:XAUUSD
by Short-termTaurus
Latest analysis of US market, 2070/2064 supportOn Thursday (December 28), the market insisted that the Federal Reserve would not relax its expectations of a faster interest rate cut. The U.S. dollar and U.S. bond yields were further put under pressure. Gold rebounded and once touched $2,088, approaching the 2,100 mark. Gold prices climbed to more than three-week highs on Thursday as the dollar and U.S. Treasury yields hit multi-month lows as bets grew that the Federal Reserve would begin cutting interest rates as early as March next year. Technical aspect: On the daily line, the market volatility on the previous trading day was relatively small, and the small positive line closed, indicating that the short-term gold price is relatively strong. In terms of indicators, the market is still running above the 20-day moving average, and bulls still have the upper hand. The market outlook will focus on the first-line pressure of $2,088 at the top, and the first-line support at $2070/2064 at the bottom.
OANDA:XAUUSDLong
by Short-termTaurus
Gold’s correction is still an opportunity to go long Gold's retracement did not fall below the key support of 2070, but the bulls remain unchanged. The pullback is still an opportunity to cover long positions! The current price of 2075 is directly higher, and the US market continues to be bullish! From the trend point of view, gold is still on an upward trend. The current pullback is exactly the support position of the 1-hour Bollinger Band, which is also the support position to start rising again. The US market will at least once again attack the 2100 mark! In the trending market, every correction is an opportunity to go long. Don’t miss the opportunity before it comes back. The current price is 2075, which is directly long! The U.S. market will surely pull up again in a straight line! specific strategies Gold is over 2075, stop loss is 2068, target is 2090. If you have better suggestions, please leave a message and tell me
OANDA:XAUUSDLong
by autumnbeauty
28. The rising demand for gold is obviousOn Wednesday (December 27) in Asia, the Bank of Japan released a summary of the opinions of the review committee of the December monetary policy meeting, emphasizing that it is too early to raise interest rates and that the end of negative interest rates must first bring the price target within sight. The U.S. Defense Secretary confirmed that the U.S. military carried out air strikes in Iraq, which resulted in the death of at least one person. Mediterranean Shipping Company (MSC) said a container ship was attacked while transiting the Red Sea. Spot gold once approached the $2,070 mark, and then remained bullish at $2,064. Gold prices rose, breaking out of a trading range that had been in place for much of December after weak U.S. inflation data fueled more bets on early interest rate cuts in 2024. Gold has rallied sharply in recent sessions as the PCE price index, the Fed's preferred inflation gauge, fell short of expectations. Inflation data released after the Federal Reserve sent a dovish signal at its last meeting in 2023 raised hopes that the central bank could start cutting interest rates as early as March 2024. This view creates a strong outlook for gold, given that high interest rates drive up the opportunity cost of investing in gold. International gold is also likely to benefit from worsening global economic conditions in the coming year as major economies feel the impact of tightening monetary policies. There is now clear upside demand for gold, so the risk of going long gold is less than going short Please pay attention to updates for more trading signals xia
OANDA:XAUUSDLong
by Short-termTaurus
Today's GOLD trading strategyYesterday, gold prices' big movements were mainly seen in the first 30 minutes of the Asian session. The price climbed $10. And in the U.S. session, due to risk aversion, XAUUSD also rose $10. Bulls were relatively strong. However, the optimistic expectations for rate cuts still need to be verified or falsified by the December key data. Currently, the risk aversion sentiment is a more important factor. It may gradually fade, but in trading, we need to see what happened rather than guessing. Don't trade in advance. Currently, bulls are strong, but the price still cannot break above the 2090-2095 range. If there is no big stimulus, it will be difficult to rise above that range in the near future. If the price of gold enter that area, it may be a good selling opportunity. Technical analysis on the 1D frame stochastic is in the overbought area, but RSI is not in the overbought area, the histogram has begun to grow higher, on the H4 frame stochastic has been in the overbought area for a long time, RSI has entered the Overbought area, on the weekly chart stochastic is falling very strongly so gold is likely to decrease.
TVC:GOLDShort
by carefulLion07pab
Gold US market analysis and strategiesI shared the buying signal BUY2055~2058 in the Asian market today, and successfully made a profit of 7$ Now looking at the hourly chart of gold, it is fluctuating all the way up! Now that the rally is continuing, the pullback is still a long opportunity! The current support is the 2048 position. If there is a chance to step back, the price will be higher! Gold has now reached the pressure position of the daily Bollinger upper track, and after a long period of substantial rise, there is a need for adjustment! The adjustment is not the end of the rise, but the beginning of another rise! Above the dividing line between long and short 2048, it is still a low price to buy!
OANDA:XAUUSDLong
by Short-termTaurus
Analysis and plans for gold after the market opens tomorrowSpot gold's rebound continued last week as the Fed's favored core personal consumption expenditures (PCE) price index for November came in lower than expected. Gold prices briefly tested above $2,070 on Friday before falling back to the day's opening price. Last week, gold prices hit a maximum of $2,070.67 per ounce and a minimum of $2,015.99 per ounce. The 4-hour K-line encountered resistance and suppressed the early highs, and the overall trend was still downward. Although gold rebounded to a certain extent yesterday, without breaking through 2070, I personally do not expect the continuity to be strong. To put it simply, shorting will be the main focus next week on rallies. The first resistance above is near 2058. If the counterattack does not break this position, you can go short.
OANDA:XAUUSDShort
by Short-termTaurus
XAUUSD:21/12 Today’s Market AnalysisGold technical chart daily pressure 2040-2072 below support 2000 Four-hour upper pressure 2042-2066 and lower support 2015-2000 One hour upper pressure 2040 and lower support 2037-2030 Operation suggestions: BUY: around 2030, target around 2040-2066 BUY: Near 2042, target 2030-2060 (range) SELL: Near 2042, target 2030-2020 SELL: Near 2066, target 2040-2030 You don’t necessarily trade according to the points I mentioned, technical analysis only provides trading direction!
OANDA:XAUUSD
by ActuaryJ
Gold to rally tonight?Looking back at the gold fluctuations in the past two days, it is actually a range fluctuation. It is neither a unilateral market nor a bull start, nor a short move. So before the market breaks out, we only need to do swing trading back and forth between shocks to obtain swing profits. The range of this wave of shock is 2015-2047 So today’s idea is still to find meat in this range. Last night we sold in 2038 layout Take profit in 2027! A total profit of $11 I predict that tonight to tomorrow Friday will be the time when the market runs out of the range, so the trading in the next two days will be very critical. If you grasp it correctly, you will make huge profits! If you get it wrong you will burn your account! Avoid burning your account. The first prerequisite for your trading is to set a stop loss! Support locations are: 2020-2015 The pressure position is: 2047-2041 The dividing line between strength and weakness on the market is 2030 After seeing this situation clearly, I think you should understand how to trade, right? Waiting for market opportunities! waiting for my signal
OANDA:XAUUSDLong
by the_Hand_of_God
XAUUSD: 20/12 Today’s Market Analysis and RecommendationsGold technical chart daily pressure is 2040-2072, with support below 2000 The upper pressure in the four hours is 2042-2066, and the lower support is 2015-2000. One-hour pressure is 2045, support below is 2015-2000 Operational advice: Gold continued to fluctuate in a wide range yesterday. The daily line 2040 was supported before. It is obvious that yesterday's closing price closed at the pressure line. Today we will follow the trend and go long after the trend falls, and see if we can break through 2066 above. BUY: around 2040 BUY: around 2028 SELL: around 2066 You don’t have to follow the analysis point trading I mentioned. Just know what price range and which direction to take.
OANDA:XAUUSD
by ActuaryJ
1
XAUUSD: 19/12 Today’s Analysis and RecommendationsGold technical chart daily pressure 2040-2072, lower support 2000 The four-hour pressure is 2045, and the lower support is 2015-2000. One-hour pressure is 2034, support below is 2015-2000 ✅Operational advice: Gold has come to the form of consolidating and repairing the convergence of small triangles. Do not chase the market in a volatile range. The daily level is long above the 2000 mark, the 4H level is the 2042 long-short dividing line, and below it is the 2015 support and the 2000 support. Be patient. Wait for the breakout of the triangle range and then chase the trend BUY: Near 2020 BUY: Near 2000 SELL: Near 2042 SELL: Near 2066 You don’t necessarily trade according to the points I mentioned, technical analysis only provides trading direction!
OANDA:XAUUSDLong
by ActuaryJ
GOLD Bullish unchanged, buy on pullbackMarket analysis: Gold continued to rise yesterday, reaching the highest level of 2033. Now that gold is rising, you can take advantage of the pullback opportunity to BUY! Gold has already turned to an upward trend after the Federal Reserve's interest rate decision, and now it is only fluctuating in the area of intensive trading pressure in the early stage! The upward trend has not changed. The current effective support line is at the 2018 position. You can rely on this support line to buy bullishly today. The upper pressure is yesterday’s high of 2033 and the previous high of around 2045! The specific strategies are as follows: Gold 2023-2025BUY, stop loss 2015, target 1: 2033, target 2: 2045
OANDA:XAUUSDLong
by Golden-Strategy-Master
XAUUSD: 18/12 Today’s Analysis and RecommendationsReview of last Friday: Suggestion to sell near 2042 last Friday, it fell all the way to near 2017, perfect profit exit Gold technical chart daily pressure is 2042-2072, with support below 2000 The four-hour pressure is 2042, and the lower support is 2000 One-hour pressure 2042-2066, support below 2021-2000 Operation suggestion: The 2000 mark is the dividing line between long and short that we have always emphasized before. Just go long above 2000. Only by following the trend can you make a profit. If the bulls break through 2042, you need to pay attention to the fact that there is still strong pressure near 2066. BUY: Near 2000, target 2030-2060 SELL: Near 2042, target 2030-2020 SELL: Near 2066, target 2040-2030
OANDA:XAUUSD
by ActuaryJ