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XAUUSD LONG TO 1940 (ALTERNATIVE ANALYSIS)We saw Gold aggressively shoot up near market closure on Friday evening with huge bullish momentum indicating buyers are coming back into the markets. However, at the current moment Gold is really overbought and has choppy price action. I will wait for a retracement back towards my POI then analyse price action to see if buyers are about to come in again. This here is my alternative analysis. I am still short on Gold overall. All of my socials are listed on my TradingView profile. Feel free to follow my TradingView in order to keep up to date with all the latest analysis. Drop a like if you agree with this chart analysis or let me know what you think!
SAXO:XAUUSDLong
by BA_Investments
Gold Weekly Analysis: All eyes will be on FOMC and NFP The big picture for gold is mixed as the bullish trend appears to remain on hold. However, a descending triangle formation shows that some bearish potential may be brewing with Gold markets, and US rates continue climbing at a higher rate than treasuries. The Fed's next meeting will decide whether or not they're hawkish enough to elicit more significant responses from gold investors who want less risk associated with their investment portfolios. What will happen then could have wide-ranging impacts on the gold price. Gold may continue to perform well in a stagflation-like environment. When you have strong inflation and meager growth, similar to last week's Advance GDP read showing 2% annualized growth rate for next year's economy whether market forecasted 2.6% growth. But we're not there yet, so it depends on how the Fed handles the problematic situation, which has begun to build up over time. The Federal Reserve will be giving its insights into these matters this week when they release their assessment at two separate but related events: Jackson Hole Conference Monday through Friday, August 6th -10th. If FED hind any rate-hiking chance next year, we may see gold will drop based on that news. As inflationary exists so, the drop may not be too heavy, but it will fall. Gold Weekly Chart In the weekly chart gold price breaks below the descending triangle trend line. In Gold, the fear is rate hikes. Rate hikes can draw capital away from non-interest-bearing assets such as Gold or Silver to potentially more profitable investments that are currently paying interest on their loans from banks and other financial institutions around this country (The U.S). In recent years, the hawkish speech from the Fed chairman has become when making decisions about rates hike deadlines. It has been shown historically through looking at charts between 2012 - 2015. We saw our lowest point for gold prices among all others following an increase—a clear indication of what should've happened if one understands how anticipation works within gold markets. Gold price dropped more than 7500 pips from 2012 to 2015 because of the higher bank rate. Though the situation is not the same as the current situation, higher bank rates harm gold prices if inflation is under control. But inflationary pressure is the main problem for most countries. So, indeed FED increases their bank rate, it won't hurt much gold price for the long term because the USA is also under inflationary pressure because of a pandemic. Gold Technical View: Two key levels are clear as a conclusion to this market. First, the upper range, 1835-1845 resistance, and 1750-1720 support zone have been tested several times in 2021. So, as long as the gold market with that range, I don't think we will see heavy movement. From the current gold price, we may see some upward correction nearly the $1800 price zone. But if the market breaks below the immediate support 1770 price zone, our first target to the downside is the $1745/1750 price zone. And breaking below $1745, our final downside target is a $1720 price zone for the next week until we get enough fundamental reports that will favor the USD. On the other hand, $1800/1800 is immediate resistance. So, the market may test this price as well. But the swing area is $1815 price zone. So as long as below $1815, we have hope that gold still has a chance to drop. breaking above $1815, our upside target would be the $1835/1845 price zone. As long as the market hold below the $1845 price zone, I would suggest not buying gold. However, with the gold price breaking above $1845, our upside target would be near the $1900/1920 price zone.
TVC:GOLD
by Gold_Trading_Expert
6
Cdn. dollar rebounds after soft job dataThe Canadian dollar has started the week with strong gains, recovering after sharp losses at the end of the week. There are no Canadian tier-1 events on the calendar, so US numbers will have a magnified impact on the movement of the Canadian dollar. The US nonfarm payrolls outperformed in spectacular style, posting a gain of 467 thousand jobs in January. Many analysts had projected a negative print, and the consensus of 125 thousand showed that expectations were quite low. With inflation at 40-year highs, wage pressures are rising. Average hourly earnings climbed 5.7% in January y/y, as workers seek higher wages due to the rise in the cost of living. The strong NFP report will keep the pressure on the Fed not to ease up on the rate pedal after the (widely expected) March liftoff. It was a starkly different story north of the border, as the Canadian employment report for January was dismal. The economy shed 200.1 thousand jobs, after a gain of 78.6 thousand in November. The consensus stood at -117.5 thousand. The unemployment rate jumped from 6.0% to 6.5%, higher than the estimate of 6.2%. The weak Canadian jobs reports, coupled with a massive NFP which has raised expectations of more rate hikes, was a double-whammy that sent the Canadian dollar sharply lower on Friday. BoC Governor Tiff Macklem testified before a Senate banking committee in Ottawa last week, and his comments indicated that Macklem still views inflation as transitory, as he stated that the BoC expects inflation to ease in the second half of 2022. At the same time, Macklem was clear that additional interest rates are needed to lower inflation to the 2% target, with the number of hikes depending on economic developments. The BoC is widely expected to raise rates at its next meeting in early March, but similar to the Fed, there's lots of uncertainty about what happens after that. Macklem will speak on Wednesday and the markets will be looking for clues regarding future rate hikes. USD/CAD faces resistance at 1.2818 and 1.2873  1.2679 was tested in support earlier in the day. Below, there is support at 1.2595
by OANDA
XAUUSD (GOLD) - Analysis - (short term trade) Hello Traders! I believe we are still going to see a push to the downside from 1807-1809 area at least to 1787-1788 before we see any correction I would just be very cautious when it comes to risk management as we have NFP today and price could prove to be very volatile. Happy trading wishing you a great day ahead and happy weekend in advance Please do not forget to like and follow for more ideas like this! Note: This is not financial advise, as trading entails high risk and is not suitable for everyone. These are to be used for educational purposes ONLY! Many thanks, ETGL Team 💛
OANDA:XAUUSDShort
by Eleventgl
XAUUSD - NFP (4H trading idea)Hello Traders, we were expecting the shorts to play out pre-NFP but since that did not happen, we are currently anticipating price to react from 1819-1825 for shorts. The rejection could be just a spike from news events and a quick continuation to the downside. GOLD is still very bearish and has potential to reach to the 1760 level ! I will not be taking the trade myself, this is just for educational purposes. Feel free to ask any questions if need be. Disclaimer: This is not financial advice, trading entails high risk and is not suitable for everyone. This analysis is solely for educational purposes Kind regards, ETGL TEAM 💛
OANDA:XAUUSDShort
by Eleventgl
2
Sterling yawns after BoE hikeThe British pound is slightly lower in Friday trading. It has been an excellent week for GBP/USD, which has gained 1.26%. If the pound can maintain these gains during the day, it will mark the currency's best weekly showing since December 2020. As was widely predicted, the BoE raised rates by 0.25% at Thursday's meeting. This brings the key rate 0.50% and was the first back-to-back rate hike since 2004. This didn't make much of an impression on the markets, as the pound rose only slightly after the meeting. What was surprising about the decision was that four of the nine MPC members voted to raise rates by 0.50%, which would have marked the biggest rate hike by the BoE in over 25 years. The large minority shows just how hawkish the BoE has become in recent months. Governor Andrew Bailey stated that the markets should not assume that the BoE planned a series of rate hikes, but it's questionable whether investors will pay close attention to his message. Bailey has a credibility problem after surprising the markets with his rate decisions late last year, and the tight 5-4 vote at the meeting shows significant dissension with regard to BoE monetary policy. The US nonfarm payroll report will be released later today. The report is often the highlight of the trading week, but this time around the markets are more focused on interest rate guidance and next week's US inflation report. The ADP employment report showed a massive loss of jobs, at -301 thousand. This was the sharpest decline since April 2020, when the Covid pandemic started. The markets aren't bracing for a repeat from the NFP, but expectations are low, with a consensus of 150 thousand. GBP/USD faces resistance at 1.3648 and 1.3740 There is support at 1.3522 and 1.3440
by OANDA
XAUUSD - KOG REPORT - NFP!This is our view for NFP today, please do your own research and analysis to make an informed decision on the markets. It is not recommended you try to trade the event if you have less than 6 months trading experience and have a trusted risk strategy in place. The markets are extremely volatile and can cause aggressive swings in price. We’re going to start with what we mentioned in the KOG report on Sunday where we said we would be looking for support during the course of the week and then for the price to push up towards the higher resistance levels where we would be looking to short the market. During the course of the week we hope you can see we’ve kept members in the right way of the market even though our bias is bearish on Gold. So lets look at what the market has done in preparation for NFP. As we’ve said they will swoop the low for liquidity before bringing it back up towards the 1810-12 level and settle the price for the release. This has all happened this week! Now looking at the chart we can see we’re settling above previous supply which would suggest the price can target the higher resistance levels. The KOG report suggest the 1808-12 level for the first short 1820 and the 1824-7 level for the next attempt at the short trade. For NFP we’ll give you two scenarios. Scenario 1: If the price comes down to hit the 1804-6 support level and finds support this could represent a good opportunity to long the market in to the immediate resistance levels above of 1816, 1820-22 and above that 1827-32. Please note, if there is no support at the mentioned level its likely we will continue down testing and potentially breaking the 1797-5 support region. A strong resistance at the levels above however could be an opportunity to short the market back down into the lower support regions and potentially lower. We have a KOG target of 1770 which we wanted to see achieved this week but we’re not holding out for it, especially during an event like NFP! Level to level trading please. Scenario 2: If the price pushes down from here we will be looking at the lower support regions of 1777 and below that 1770. We’re not interested in the 1797-5 level as support anymore and would rather miss the opportunity to long the market at that levels. We feel the lower support regions will represent a good opportunity to long the market but only into the immediate resistance level above which would be 1785 and above the 1795-7. Hope this helps members. Even with our bearish view on Gold we’ve managed to keep you in the right direction as always, taking shorts and longs this week into the levels and targets we’ve mentioned. We would like to see how this NFP plays out and where the market closes today to confirm our view for the rest of the month of February. As always, trade safe. KOG
FX:XAUUSD
by KnightsofGold
15
NFT Trade USDCADI will be placing this order on USDCAD today, it seems logical to me. Due to NFP, risk will be reduced dramatically. This is my only trade of the day, good luck traders. Traders, if you have your own opinion about this idea, write in the comments section, I always reply. 💬 🚨 RISK DISCLAIMER : Trading Crypto, Futures, Forex, CFDs, and Stocks involves a risk of loss. Please consider carefully if such trading is appropriate for you. Past performance is not indicative of future results. Always limit your leverage and use a tight stop loss. -------------------------------------------------------------------------------------------------------- Please like, subscribe, and share this idea with others! ⬇️ --------------------------------------------------------------------------------------------------------
Short
by AlkalineFX
7
EXPECT THE UNEXPECTED [NFP]Dear traders, There we go. Another crazy NFP day. As you can see from my markup, I'm expecting a short from the 4H OB where the price is currently at. Also, the price is respecting the trend line. One thing to note: That long bearish wick, which has been initiated by yesterday's news, penetrated the TL and came back to close bullish. The same thing can happen with NFP. Expect unexpected. Crazy moves are about to happen. Therefore, take your time to analyze everything and most importantly manage your risk properly. NEVER OVERLEVERAGE. DISCIPLINE Strive for patience, perseverance, determination, & rational action. Limit your losses, use stops. Never cancel a stop loss order after you have placed it! It's just an idea of mine. However, everyone can share their thoughts in the comment section below. Also, don't forget to support me! :) Disclaimer: Trade at your own risk. I'm sharing my ideas and not giving trading advice. Always plan your trade and trade your plan.
OANDA:XAUUSDShort
by d13wish
DXY still bullish above 94.60TGIF all, I wanted to share my opinions to the chart of DXY . I see DXY still successfully produces lower highs while finding supports on 9 months old (blue) trendline. In my opinion, DXY is still bullish above 94.60. We observed a correction lately on DXY from the 97.5 levels. Demand to dollar increased due to the expected rate hikes of Fed but the price already discounted the hike probabilities. Now we have to watch carefully of the upcoming NFP data while observing the Omicron cases. Be careful! If the layoffs are high, there may be a jump on average wages . Have a good weekend!
TVC:DXY
by gorkemaydogan
EURUSD before NFPEURUSD climbed 200 pips since the Interest Rates yesterday. Today NFP comes out as well. This is also a very important event which does affect the market. All week, we've been looking for a possible end of the pullback, but that impulse yesterday took price back to the previous high. However, we're still in a downtrend on the Daily timeframe and that's something we should not forget. We don't recommend looking for trades right now, but if we see price possibly reaching the zone, leaving a wick and rejecting it, then we can expect a downside continuation. The best opportunities in case of positive news and strong USD will be on the stock currencies.
by ForexTrendline
37
Gold NFP Day: I believe I can flyHey Trader, please see my current idea on Gold. Last idea was nailed on exact pip. Since, I was expecting a buying reaction on the bottom of my last idea, I assume that we may have had our spring today, in order for us to get an impulsive wave 3. I'm expecting a little retrace, where I am willed to place buy order with a stop slightly below todays spring. NFP should be bullish for Gold. But let's see time will tell. For further information please see below. This is no financial advice. RT
OANDA:XAUUSDLong
by RT_Trading_
5
What 3 events will traders be watching this week? 31 Jan- 05 FebThis week’s 3 events will concentrate on US employment numbers. The released figures could bolster or work against the strength found in the USD since the beginning of the year. For instance, the NZD and EUR have quickly dropped in value against the USD and are currently at a multi-month low against the greenback. Depending on this week’s numbers, the GBP, CAD, and AUD, which are presently floating close to 1-month lows, may soon be joining the NZD and EUR at values not seen since mid-2020. Wednesday and Thursday, February 02 and 03: Wednesday: Jolts Job DEC Thursday: ADP Employment Change JAN Two highly anticipated precursors to Friday’s Non-farm Payrolls report are released over Wednesday and Thursday this week. The first, the JOLTS Job Openings for December, is expected to remain close to record highs with 10.5 million jobs advertised across the US. Employers are seemingly experiencing difficulty holding onto their workforce, with job quits matching recorded highs and labour force participation struggles to budge from 40-year lows. While the JOLTS Job Openings report is limited in its impact on forex and stocks, it does help set the tone for the following two more appreciable job reports. The second, the ADP Employment Change for January, is estimated to report the lowest number of new jobs added to the US private sector since February 2021, with the consensus forecasting 200K. The typically slow start to the year, if forecasts are accurate, will sit in stark contrast to December’s (2021) 800K jobs, which shocked analysts who were expecting less than half this number at the end of last year. Saturday, February 05: Non-farm Payrolls JAN Non-farm Payrolls JAN is forecast to report 155K jobs added to the US economy in January, representing a marked slowdown in jobs growth, but in line with what has been seen with the past few months. Last month’s report for December 2021 delivered 199K jobs, while November 2021 reported 249K jobs. Disappointing Non-farm Payrolls may no longer have the same impact it once did, as investors appear content with the slowing job growth, and negative pressure on the USD typically fails to eventuate after such an event. While job growth is slowing, it should be noted that wage pressure is rising, which could be a good thing for US consumer spending and optimism for the US economy in general.
by BlackBull_Markets
AUDJPY BEARISH SEASON Considering the structure of audjpy, the market looks bullish in a lower time frame but, scaling upward to 4H and Daily time frame, it is clearly showing that the bullish pattern is mainly to take off the liquidity gap in between the prices. Considering a trendline analysis as well, the market shows a downward pattern with 3-4 confirmations on the trendline. Therefore, I'll rather look for a good sell entry after the liquidity gap as been taken off completely. The only buy confirmation I can agree with is if the price break the trendline and the order block then form a bullish engulfing candles.
Short
by Bolems