Wall Street back on the bullish bandwagonAmid cooling geopolitical tensions and a slow week for economic data releases, the gold market ultimately returned its focus to the Federal Reserve’s interest rate path.
Spot gold opened the week trading just above the $2,300 level, and spent most of the week trading in a $30 range. In the absence of other significant data, gold prices took their direction from Thursday morning’s weekly jobless claims, which surprised to the upside.
In light of Fed chair Jerome Powell's comments that rate cuts remain on the table for 2024, gold traders decided that the high jobless claims print improved those odds, and gold broke definitively above $2,330 just after 10:30 am EDT, climbing steadily for the rest of Thursday and throughout the overnight trading session before attaining its weekly peak of $2,378.56 per ounce around 6:30 am Friday morning. It continued to hold most of those gains throughout the Friday session.
💵 OANDA:XAUUSD BUY 2337 - 2334💵
✔️TP 2350
✔️TP 2355
❌SL 2327
Ideasdetrading
Gold Falls As US Dollar Rises On Strong Core PCE InflationGolden Dilemma: The rate of the yellow steel has fallen from its excessive as US Dollar`s restoration pushed with the aid of using increased US middle PCE inflation information, placing strain at the cost of gold. The annual underlying inflation information rose at a better tempo of 2.7% from the estimates of 2.6% however decelerated from 2.8% recorded in February. Stronger-than-anticipated figures hose down Gold`s charm with the aid of using lowering the chance of Federal Reserve charge cuts in the approaching September economic coverage meeting. The month-to-month underlying inflation information met expectations, last steady with the preceding studying of 0.3%. This state of affairs favors bond yields and the United States Dollar.
* Technical Breakout: Gold fee changed into traded decrease following previous retracement from the resistance stage 2335.00. MACD which illustrate diminishing bullish momentum sign endorse the commodity to possibly expand its retracement.
* Resistance and Targets: If the bearish momentum persists, there`s a robust probability that the fee will probably head in the direction of 2270.00. Conversely, a breach lower back above the extent 2335.00 might endorse a fashion continuation and probably head in the direction of 2400.50 stage.
Understand how technical evaluation let you on this buying and selling opportunity.
USDCAD → Day Analysis | BUY SetupHello Traders, here is the full analysis.
Price reversal going up, levels for BUY . USDCAD long
! Great BUY opportunity USDCAD
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EUR/USD Analysis Summary:Price & Pattern: EUR/USD at 1.08397. 4H chart shows double top rejection, followed by resistance breakout—bearish indication.
Technical Implications: Pattern suggests potential bearish reversal, favoring sellers.
Demand Zone: Approaching demand zone, but bearish bias persists.
FOMC Impact: Pending FOMC news could strengthen USD (DXY index)—further downside pressure on EUR/USD likely.
Anticipated Movement: Downside risk prevails, especially post-FOMC, aiming for bearish targets.
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The most important rule in trading, is to respect you plan 🧠Hello Traders!
Risk management primarily involves minimizing potential losses without sacrificing upside potential. This is often borne out in the risk/reward ratio, a type of cost-benefit analysis based on the expected returns of an investment compared to the amount of risk taken on to earn those returns.
XAUUSD: Gold technical analysis todayGold, the longtime safe-haven asset, experienced a notable rally, surpassing the psychological barrier of $2,060 an ounce on Tuesday. This increase is likely due to a combination of factors, with market participants closely monitoring developments in the US economy, especially with regard to inflation and possible cuts. Federal Reserve interest rate cuts.
From a technical standpoint, . The previous resistance area that limited gains at 2050-2060 has now turned into support. I recommend looking for buying opportunities on a pullback to retest the previously broken resistance level, which is also confluent with the 61.8% Fibonacci retracement and the ascending trendline acts as cross support for gold. I see resistance around 2090 as the first potential target and also a test of the all-time high
GOLD: Gold price trend todayThe technical outlook for gold is quite optimistic, especially when the FED's actions are showing that they will have a high possibility of cutting interest rates. That will have a positive impact on gold.
Gold in today's session will increase to the 2070 threshold, but then will decrease again. Optimism about gold price increases is still very promising, when investors are betting that the FED will move to cut interest rates.
EURUSD :Analyze market strategies todayThe Euro continues to strengthen as Martins Kazaks, member of the Governing Council of the European Central Bank (ECB), highlighted the need to maintain current interest rates over the long term. However, he suggested that the first interest rate cut could materialize around mid-2024. This statement strengthened the Euro's position as the commitment to maintain interest rates was seen as a maintenance measure. the power of money.
From the chart below, we can see that EUR/USD has moved away from the 200 Day Moving Average, which shows that the pair is currently trending very strongly, so it is best to focus on buying and not sold. Selling would be a higher risk counter-trend method. EUR/USD has a key resistance level at 1.05000. Personally, I think EUR/USD will head towards that price level before any pullback.
LRC/USDT Signals Sparking Interest! Spot or Future Buy? 🌐💸 🚀 **Crypto Signal Alert!** 🚀
$LRC/USDT weekly and daily candles seem primed for a potential pump! 📈 Considering a buy? Well, it's up to you—whether it's in the future or spot, it's all about your happy mood and risk management. We're here to share experiences and ideas. Enjoy these free signals, and may the markets bring you joy! 🌟💰 #CryptoTrading #SignalAlert
EURGBP SELL | Day Trading Analysis Hello Traders, here is the full analysis.
Watch strong action at the current levels for SELL. GOOD LUCK! Great SELL opportunity EURGBP
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NZDUSD SELL | Day Trading Analysis With Volume ProfileHello Traders, here is the full analysis.
Watch strong action at the current levels for SELL. GOOD LUCK! Great SELL opportunity NZDUSD
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AUDCAD BUY | Day Trading Analysis With Volume ProfileHello Traders, here is the full analysis.
Watch strong action at the current levels for BUY . GOOD LUCK! Great BUY opportunity AUDCAD
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NZDCAD BUY | Day Trading Analysis With Volume ProfileHello Traders, here is the full analysis.
Watch strong action at the current levels for BUY . GOOD LUCK! Great BUY opportunity NZDCAD
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Bitcoin analysis in the next hoursIn the next few hours, the market is in a phase of uncertainty that could lead to a period of ranging, which is when prices fluctuate within a specific range without following a clear trend. This scenario is quite common on weekend days, when trading volumes tend to be lower due to the closure of many financial institutions. However, it is important to note that during these periods, the market may react unpredictably, especially if "whales", i.e. large investors or traders, decide to take action.
There is an expectation that significant movements could occur on Sunday, just before the markets open. But as traders, we must remain cautious and wait for clear signals before making decisions. One of these signals could be the breaking of an upper resistance. If prices manage to overcome this level, it could be an indicator to consider long positions, i.e. aim for prices to rise.
On the other hand, if we see a high volume move down towards the previous lows, we may start to consider bringing attention to possible short position openings. However, it is important to emphasize that we should be patient and wait for further confirmation before taking action.
A key element to consider is the New York markets opening on Mondays. Often, this trading session can lead to significant movements in prices and volumes. The direction in which the weekly candle closes could have a significant impact on trading decisions and the overall direction of the market.
XVG/USDT - Market Alert! 🐻📈 **Recent Highs, Possible Lows**: XVG/USDT is currently at a peak, but signs indicate a potential bearish trend ahead. 📉
💰 **Trade Cautiously**: If you decide to trade, consider using only 3-4% of your funds. Choose between spot or futures based on your preference.
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Remember to exercise caution and conduct your analysis before trading. Good luck! 📊🧐
📉 COMP/USDT Signal Alert: Balancing Act! 📈Critical Levels to Watch:
🚀 Breakout Point: $50.14
🔥 Bullish Targets: $54.58 and $57.22
🐻 Bearish Zone: Below $46.47, with potential drops to $37.35 or $36.27
👁️🗨️ Analysis: COMP/USDT is at a pivotal juncture. Keep your eyes peeled for these key levels:
🟢 Bullish: If it breaks $50.14 and holds a 15-minute candle above this level, we're aiming for the skies!
🔴 Bearish: On the flip side, a drop below $46.47 could send us on a downward journey.
📢 Trade Strategy: Patience is key! Set your alarms at $50.14 and $46.47. Once triggered, make your move. Enjoy the ride!
Bitxer's insights are your guide to navigating the crypto seas. 🌊📊
🚀 *Bitxer Signal Alert ID# 284-5*🚀 *Bitxer Signal Alert ID# 284-5
📈 *Trade Direction:* Long ⬆️
📈 *Entry Point:* NOW
📈 NEOUSDT Alert: Bullish Vibes! 🚀
NEOUSDT is once again dancing around the $7.14 support level, a zone known for catapulting prices higher. 🌱
Historical data reveals a recurring pattern:
🎯 First Target: $8.12
🎯 Second Target: $8.30
🎯 Third Target: $8.50
This trend has proven reliable time and time again. Whether you prefer futures or spot trading, Bitxer offers insights drawn from a wealth of experience. 📊
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The VIX: A Measure of Market FearThe VIX, or Volatility Index, is a measure of the expected volatility of the S&P 500 index over the next 30 days. It is calculated using the prices of options on the S&P 500 index. A higher VIX indicates that market participants are expecting more volatility in the future, while a lower VIX indicates that they are expecting less volatility.
The VIX is an important tool for investors because it can help them understand how risky the stock market is. A high VIX indicates that the market is expected to be volatile, which means that there is a greater chance of large price swings. This can make investing more risky, but it can also create opportunities for profit.
The VIX is also correlated with the S&P 500 index. This means that the VIX tends to move in the opposite direction of the S&P 500. When the S&P 500 falls, the VIX tends to rise, and when the S&P 500 rises, the VIX tends to fall. This correlation is not perfect, but it is strong enough to be useful for investors.
The VIX can be used in a variety of ways by investors. Some investors use the VIX to assess the risk of their portfolios. Others use the VIX to trade volatility, either by buying or selling VIX futures contracts. Still others use the VIX to hedge against risk in other assets.
The VIX is a complex and volatile asset, but it can be a valuable tool for investors who understand how to use it.
Here are some additional things to keep in mind about the VIX:
The VIX is not a direct measure of the volatility of the stock market. It is a measure of the expected volatility, which means that it is based on the opinions of market participants.
The VIX can be affected by a variety of factors, including economic news, political events, and natural disasters.
The VIX is not always accurate. It can sometimes overshoot or undershoot the actual volatility of the stock market.
Despite its limitations, the VIX is a valuable tool for investors. It can help investors understand the risk of the stock market and make informed investment decisions.
I hope this post is helpful.
This analysis represents my thoughts at the date it is posted.
This analysis does not represent professional and/or financial advice.
You alone assume the sole responsibility of evaluating the merits and risks associated with the use of any information or other content found on this profile before making any decisions based on such information.