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XAUUSD - Continuing to return to the price increase journey?Welcome to a new promising and productive trading week! Looking back at last weekend, gold proved its strength with a spectacular Breakout, completely escaping the sideway trend and ending the downward trend. It was an impressive move from the bulls, as they not only successfully defended the key defensive zone at 2015 USD but also pushed gold prices up sharply from this point. Tensions in the Middle East are having a clear impact, easing pressure on the USD and bond yields, thereby supporting gold prices. In the short term, demand for safe havens will likely push gold prices higher. With the current picture, can we expect a gold price race to new heights? What about you, do you expect a wave of price increases for gold? Share your thoughts on where gold goes next in this exciting market!
OANDA:XAUUSD
by Karina_Bella
1
Where will gold prices go?Hello everyone, do you think gold will continue to fall? Today the gold price continues to decline and the price is trading around 2030 USD. On our chart analysis: Gold forms an inverted cup and handle pattern. Current support level is 2017 USD. Accordingly, the 10-year US bond interest rate has surpassed 4%/year. This factor has pushed investors to put capital into bonds, meaning very little money flows into precious metals. Today's gold price continues its downward trend, which is inevitable. In fact, during last night's trading session, the world gold price sometimes reached 2,040 USD/ounce. However, when the USD appreciates and US bond interest rates go up, many people fear that gold prices will go down. Since then, they have tried to sell to recover capital, causing gold prices to decrease and make it difficult to recover.
OANDA:XAUUSD
by Karina_Bella
1
Gold likely to continue shining in 2024For over two years of publishing on TradingView, we have maintained a bullish stance on gold, which has been marching higher in tandem with our expectations. In 2024, our outlook remains unchanged, and we expect it to continue performing well amid the persistence of institutional interest, global economic slowdown, and geopolitical tensions. However, we also recognize a potential threat to its well-being, represented by the stock market weakness. This thesis is built upon the fact that gold has been climbing higher alongside stock market indices for several months, showing a positive correlation. Furthermore, we have seen a perfect example in 2022, when the stock market selloff forced investors to sell gold in order to cover losses elsewhere; we expect the same thing to happen in the case of prolonged weakness in market indices. Nonetheless, we do not have plans to sell our holdings; instead, we plan to accumulate more (if the opportunity arises). With that said, our long-term price target for gold stays at $2,300. Illustration 1.01 The image above shows the daily chart of XAUUSD and simple support/resistance levels derived from peaks and troughs. Technical analysis Daily = Bullish Weekly = Bullish Please feel free to express your ideas and thoughts in the comment section. DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not serve as a basis for taking any trade action by an individual investor or any other entity. Your own due diligence is highly advised before entering a trade.
OANDA:XAUUSDLong
by Tradersweekly
5
Is Platinum Ready To Break Out?Looking at the technical picture of EASYMARKETS:XPTUSD on our daily chart, after reversing higher in mid-November, the commodity started forming higher lows. That said, it is struggling to build up higher highs, at the moment. However, that might change, if the price overshoots its key resistance area, roughly between the 944 and 952 levels. Until then, we will take a cautiously bullish stance. A break above the aforementioned resistance area would confirm a forthcoming higher high, potentially clearing the path towards higher hurdles, as more buyers might see this as a good opportunity to step in. We will then target the 989 and the 995 levels, which mark the highest points of August and July respectively. Alternatively, a break below a short-term tentative upside support line, drawn from the lowest point of November, could result in a further price drop, as it might spook some bulls from the field. Our next possible target could be the 890 zone, which is the current lowest point of December. Disclaimer: easyMarkets Account on TradingView allows you to combine easyMarkets industry leading conditions, regulated trading and tight fixed spreads with TradingView's powerful social network for traders, advanced charting and analytics. Access no slippage on limit orders, tight fixed spreads, negative balance protection, no hidden fees or commission, and seamless integration. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. easyMarkets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
EASYMARKETS:XPTUSD
by easyMarkets
Decoding Gold Price Surge: Analyzing the Impact of Fed SignalsDecoding Gold Price Surge: Analyzing the Impact of Fed Signals and Identifying Profit Opportunities The recent surge in gold prices, climbing above $2,000, comes on the heels of significant signals from the Federal Reserve indicating potential rate cuts in 2024. As the precious metal takes center stage, our analysis unveils intriguing insights into the factors driving this upward trajectory. Analyzing the Surge: Gold's 1% increase, coupled with the Fed's indications of impending rate cuts, has sparked renewed interest in the precious metal. Understanding the dynamics behind this surge is essential for investors looking to capitalize on potential profit opportunities in the gold market. Key Insights: Fed Signals Impact: The Federal Reserve's announcement of potential rate cuts in 2024 has triggered a shift in market sentiment. Investors are turning to gold as a hedge against economic uncertainties, contributing to the price surge. Psychological Barrier Break: Surpassing the $2,000 mark is more than a numerical achievement. It signifies a psychological shift in investor perception, potentially paving the way for sustained bullish momentum in the gold market. Profit Opportunities: As gold continues its upward trajectory, strategic investors may find profit opportunities in both short-term and long-term positions. Setting realistic profit targets is crucial, with the current market conditions suggesting the potential for continued positive movement. Take Profit Strategy: Consider implementing a take profit strategy around key resistance levels, factoring in the psychological impact of breaking the $2,000 barrier. As gold reacts to market developments, remain agile in adjusting your strategy to optimize gains while managing risks. Target Price Projection: The anticipation of gold prices reaching $2,235 by the end of Q1 adds an additional layer to profit potential. Investors may strategically plan their positions with this target in mind, keeping an eye on market dynamics and adjusting strategies accordingly. Risk Considerations: While the gold market presents opportunities, it is not without risks. External factors such as geopolitical events, economic data releases, and shifts in central bank policies can influence gold prices. Stay informed and be prepared to adapt your strategy based on evolving market conditions. Conclusion: Gold's ascent above $2,000, coupled with the Fed's signals, positions it as a focal point for investors. Analyzing these dynamics, setting realistic profit targets, and considering risk management strategies are essential elements for those navigating the current landscape of the gold market. For real-time updates and deeper insights, continue monitoring reputable financial news sources and market indicators. Disclaimer: The information provided is for educational purposes and does not constitute financial advice. Always conduct thorough research and consult with a financial professional before making investment decisions.
OANDA:XAUUSDLong
by wikitrades
Let's see how this gold chart plays out over the next six years!Here's a long-term perspective I have not seen and will be interested to follow. I think bias needs to be removed. The bulls will see a potential shot to the MOON. The bears will see a likely hard spill. NEWS FLASH: This is a new and crazy world! EVERYTHING IS IN PLAY! If this gets above $2200 in 2024, it could be the start of something epic. If we see the $1700s in 2024; then (eek) I'm nervous. All I know for sure is I look fwd. to watching this every quarter for the next several years.
TVC:GOLD
by CSGold1
GOLD MAKES A NEW ALL TIME HIGH @ $2,146Gold - TVC:XAU A light hearted post to celebrate this incredible moment with gold pushing to a new all time high at $2,146.61c I wanted to formally invite you all to this very special tea party There is certainly enough golden tea, cups and handles for everyone who want to attend Have a golden Christmas all PUKA P.S. Have a look at my Macro Monday on Gold and Silvers Performance during recessions, you may find them useful in terms of performance and timing allocations to either in the event of. Both linked in this post. Thank you and Happy Christmas.
FX_IDC:XAUUSDLong
by PukaCharts
2
BluetonaFX - SILVER Targeting Five-Month HighHi Traders! Silver is trading with bullish momentum after its ascending triangle break and is approaching its five-month high at 25.258. Price Action 📊 After the break and close above the 20 EMA, the market has been trading with bullish momentum and then broke above the ascending triangle's resistance. We are looking for further continuation towards the five-month high at 25.258, and our plan is to buy market dips. Fundamental Analysis 📰 Important market events this week that could increase the volatility in the US dollar and therefore in commodity prices are likely to be the ISM data and the Federal Reserve's preferred gauge of inflation, the Core PCE data. We will also have US GDP later in the week, and to round off the week, Fed Chair Powell will be speaking. Support 📉 23.556: PREVIOUS DAY'S LOW Resistance 📈 25.258: FIVE-MONTH HIGH Risk ⚠️ No more than 2% of your capital. Reward 💰 At least 4% of your capital. Please make sure to click on the like/boost button 🚀 as your support greatly helps. Trade safely and responsibly. BluetonaFX
CAPITALCOM:SILVERLong
by BluetonaFX
THE KOG REPORTKOG REPORT: In last week’s KOG Report we said we would face a difficult week on the markets and will be looking for higher pricing on Gold, and if price did start with a decline, we would be looking for the levels 1970-65 for a strong support before attempting the long trade into the target regions we had above. We gave KOG’s bias level as 1965 bullish above and a target price of 2003 on our morning review and update. Looking at the move that occurred, it couldn’t have been anymore precise with the low being put in at 1965 and the target regions above completing. Another successful week on the markets with not only on Gold, but the numerous other pairs we analyse and trade. So, what can we expect in the week ahead? It’s the end of the month, so expect there to be some profit taking across the markets which will cause a lot of volatility. It’s a good idea for most traders, but especially new traders to sit out of the markets during these periods, rather spending their time on education, practicing, and improving their techniques and strategies. Gold, we can see higher pricing, however, again, how high are they going to take it? We’re looking for two moves this week, either the long from the immediate support level or KOG’s bias level which we’ll issue, or a short if price continues to the upside from the open. We’re a too high to get a decent entry from this level, so Monday could be played sitting on the sidelines waiting for price to make a move into the levels we want before attempting a trade. Of course, we’ll also be waiting for our trusted Excalibur to guide us. Levels of interest on the downside are the 1990-85 levels, where, if support holds, we feel an opportunity to long the market into the higher resistance levels could arise. We’ll be monitoring the 2010-15 resistance closely, if achieved, this is where we feel a reaction in price may take place, potentially giving bears an opportunity to short the market back down into the support levels below. A break of that level will continue the move into the previous order region 2030-35 so it could be an idea to hold a runner for higher pricing. A weekly and monthly close above that 2020 level is important for bulls and it’s likely there will be a fight for the close, so please trade this wisely, if you’re going to trade it. On the flip, if price does continue to the upside from the open, we’ll again be looking at 2010-15 for a reaction in price, otherwise, we’ll trade this level to level long on the intra-day using our red box strategy until we feel there is an opportunity to short it back down. KOG’s bias for the week: Bullish above 1985 with targets above 2010 and above that 2015 Bearish on break of 1985 with targets below 1975 and below that 1965 Please do support us by hitting the like button, leaving a comment, and giving us a follow. We’ve been doing this for a long time now providing traders with in-depth free analysis on Gold, so your likes and comments are very much appreciated. As always, trade safe. KOG
FX:XAUUSD
by KnightsofGold
6
Gold: Thoughts and AnalysisToday's focus: Gold Pattern – Breakout, Continuation. Support – 1988, 1937.60 Resistance – 2018.50, 2050.45 Hi, and thanks for checking out today's update. Today, we are looking at Gold on the daily chart. Today's video asks if Gold will contnue to move higher after yesterday's breakout. We have run over all the signals we see confirming the possibility of higher prices. We have also broken down higher resistance levels that we would like to see tested to maintain our thoughts and things to watch out for in case we see a new pullback from weekly highs. What do you think? Could we see a new test of 2050 if the USD continues to trade lower? Good trading.
EIGHTCAP:XAUUSDLong
by Eightcap
Gold is still ready to regain $ 2,020 in the weekGold prices today also continue to rise as they surpass the $2,000/ounce mark. At one point, gold reached $2017, the highest level since May. The market is cautious, preparing for the favored inflation measure of the US Federal Reserve - the PCE price index, which will be released later this week. -The US PCE inflation data will help strengthen bets on a Fed interest rate cut in May, while Eurozone inflation data will provide new insights into the interest rate outlook of the European Central Bank (ECB). Both of these data points could have a significant impact on gold prices, which do not bear interest. -Meanwhile, gold traders will receive signals from the temporary ceasefire between Hamas and Israel, as mediators are making every effort to extend the thawing period in the Middle East conflict. This is the first ceasefire since the start of the conflict between Israel and Hamas on Friday morning. Source: Fxstreet At the time of writing, the price of gold is trading at $2011. In my personal opinion, I believe that gold will continue to decline in the short term, with an expected decrease to $2005. However, if it manages to break through the resistance level at $2020, this will likely result in a strong upward trend in price. Wishing you successful trading!
OANDA:XAUUSD
by Savanna_Blade
5
THE KOG REPORTKOG REPORT: In last weeks KOG Report we suggested that if price began with a decline and stayed above the 1920-23 price region, we felt an opportunity to long would be available, based on strong support. We gave the levels above as 1950-55 and above that 1965 and 1970 as the target levels to aim for and then added the daily bias levels. We gave the weekly bias level high at 1995 which was short by a few pips and managed to complete all the daily bias levels given to traders. Well done to those who followed and managed to get something out of the markets, not only on Gold, but the numerous other pairs we trade and share. So, what can we expect in the week ahead? Again, this is going to be a difficult week for traders to navigate and stay ahead of, so please make sure you have a risk model in place as one big move in the opposite direction can really cause traders problems. We can see there being potential for higher pricing, but what we want to see again this week is how low to they attempt to take it while staying above the order region. We have the levels below as key support regions 1970-65 and below that 1950-55, which price needs to stay above in order to target and potentially break above the 2000 barrier. So, for that reason, we will be looking for a similar scenario to last week. If we see price attempt the lower support regions 1970-65 and below that 1950-55, we feel an opportunity to long the market up into the 1995 and above that 2003 levels could be available to traders. It’s at these price points that we want to monitor price action and look for signs of a RIP. If we struggle around the 2006-10 region with extension into 2015-17, we will be looking to short the market back down with an open take profit. On the flip, continuing upside from the get-go, we will be looking to trade level to level into the regions we’ve mentioned above, before then looking for the short trade back down initially into the 1965-70 region and then hopefully further down. KOGs bias for the week: Bullish above 1965 with targets above 1995 and above that 2003 Bearish on the break of 1965 with targets below 1955 and below that 1943 This gives us a potential range 1935-2010 for the week ahead. Please do support us by hitting the like button, leaving a comment, and giving us a follow. We’ve been doing this for a long time now providing traders with in-depth free analysis on Gold, so your likes and comments are very much appreciated. As always, trade safe. KOG
FX:XAUUSD
by KnightsofGold
2
THE KOG REPORTKOG Report: In last week’s KOG Report, we said we would be looking for price to attempt the high before finding resistance and then we would be looking to short the market. Initially targeting the 1980 level, and upon the break, we would have more confidence in lower pricing. We had the path showing the 1950-55 level and gave the extension levels of 1947-5 as the potential RIP zone. Price followed the path nearly to the pip each way giving us a level to level, point to point move on Gold, not only the short down, but the bounce giving us a scalp capture to the upside where we wanted 1970 but got 1964. During the week, we gave KOG’s bias of the day with the levels and activation of bearish below, completing all the bias levels and targets given. A great week of targets completing not only on Gold and the other instruments we trade, but Silver being the star of the show finishing off the week. So, what can we expect in the week ahead? Another choppy week is likely with whipsawing price action and swings in both directions. We’re at a crucial price point in Gold having broken the order region which is now on the flip. This structure, however, does complete in extension into the 1920-23 price region. This price point is important for Gold to stay above, as a close below here will lead us to lower pricing. This gives us the weekly resistance level now standing at 1950-55 order region which will be a crucial test and potential opportunity for any long trades. This is the price point we want to monitor with further resistance levels 1965 and above that 1970. From opening and in the early sessions, if we see price attempt the lower support regions, upon holding and strong support, with a clear set up, we feel an opportunity to long into the higher levels 1950-55 and above that 1965 are reasonable. We’re too low here to short the market, so opportunities may come from higher up if gold wants to play nicely. For that reason, if we do push up during the early part of the week, we’ll target the long trades from the intraday support levels and Excalibur guiding us before looking for resistance to hold above, and then attempting the short trade back down to break the 1930 level. The path is shown on the chart together with the levels we’re looking at. KOG’s Bias for the week: Bearish below 1965-70 with targets below 1910 Bullish on break of 1970 with targets above 1985 and above that 1995 This gives us the potential range 1910-1985 for the week ahead. Please do support us by hitting the like button, leaving a comment, and giving us a follow. We’ve been doing this for a long time now providing traders with in-depth free analysis on Gold, so your likes and comments are very much appreciated. As always, trade safe. KOG
FX:XAUUSD
by KnightsofGold
18
Gold is stable waiting for a decision from the FEDDear friends, Gold continues to trade sluggishly around the $1995 mark, showing little change compared to yesterday's trading session. Market analysis: - The global precious metal is caught between escalating political tensions and expectations of interest rates ahead of the Federal Reserve's monetary policy meeting. However, we remain optimistic about this issue. Forecast for the Federal Reserve interest rate at this week's meeting: Currently, the market seems to be certain that the Fed will keep interest rates unchanged. Many believe that the important information will be the message from Fed Chair Jerome Powell at the subsequent press conference, and it is highly likely that the head of the world's most powerful central bank will maintain a hawkish tone in the context of persistent inflation. Technical analysis : Gold is facing a resistance level at $2010, so the possibility of a decline will start from here. Key support levels to watch are $1960 and $1935. This could be a catalyst for Gold to rebound in the near future. Do you agree with my analysis?
OANDA:XAUUSD
by AlselvSignals
5
BTCUSDT increased sharply, the market was hotDear readers, Escaping the discount channel has resulted in an impressive price increase. At the time of writing, the cryptocurrency market is trading below the $30,000 barrier. The upward trend is strong as it consolidates at high levels with stable trading activity on a 2-hour timeframe. As a result, there is eager anticipation for SEC approval of proposed Bitcoin exchange-traded fund transactions. This has contributed to making the market hotter than ever. It is expected that this price increase will reach $31,209. What are your thoughts on this matter? Do you agree with me?
Long
by AlselvSignals
32
Gold: Shining Bright with OpportunitiesGold is once again in the spotlight, and here’s why! Economic Cycles, PMI & Gold The US Purchasing Managers Index (PMI) is a leading indicator often used to identify turns in the economic cycle. A below 50 PMI print indicates contraction in the US manufacturing cycle, while a print above 50 suggests expansion. Generally speaking, expanding manufacturing cycles spell a boost for industrial materials, like copper, while contractionary periods spell downturns in the economy and a preference for 'flight to safety', boosting gold holdings. An interesting observation from the chart above is the correlation between the Gold/Copper ratio and the inverted US PMI, moving in tandem over the last decade. However, looking at the current scenario, the PMI has turned lower, yet the Gold/Copper ratio has remained relatively muted, suggesting that gold may currently be underpriced. Similarly, the Gold/Silver ratio shows a less pronounced but similar effect. Significant drops in the PMI below the 50 level have historically triggered notable increases in the Gold/Copper ratio. With the PMI currently below 50 for a sustained period, this might be priming the ratio for a potential upward surge. Yields, Fed Expectation & Gold As a non-interest-bearing asset, gold loses its appeal when interest rates rise, leading investors to prefer interest-yielding products. We covered the effect of a Fed rate cut on gold in a previous article here . While the Fed remains steadfast in holding rates, even the act of pausing rate hikes positively impacts gold. This effect is observed via the Gold/US10Y Yields ratio. The previous pause in rate hikes preceded a significant run-up in this ratio. Additionally, this ratio is currently near its resistance level, which it has respected multiple times over the last decade. With the Fed expected to continue holding rates, now could be an opportune time to consider adding gold to your portfolio. Gold Price Action Gold’s current price action also shows a completed cup-and-handle pattern. With an initial attempt to break higher halted, it now trades right above the handle. Additionally, gold could arguably be trading in an ascending triangle pattern, as noted by its price action as well as generally declining volume, potentially signaling a bullish continuation pattern. In summary, given the Fed's stance on holding rates, the correlation between PMI and the Gold/Copper ratio, and the bullish technical indicators in gold's price action, a positive outlook on gold seems reasonable. To express our view, we can buy the CME Gold Futures at the current level of 1962. Using the cup and handle pattern to guide the take profit level, at 2400 and stop at 1890. Each 0.10 point move in gold futures is for 10 USD. The same view can also be expressed with greater precision using the CME Micro Gold contract where the notional is one-tenth of the regular size gold contract. Here, each 0.10 point move is for 1 USD. The charts above were generated using CME’s Real-Time data available on TradingView. Inspirante Trading Solutions is subscribed to both TradingView Premium and CME Real-time Market Data which allows us to identify trading set-ups in real-time and express our market opinions. If you have futures in your trading portfolio, you can check out on CME Group data plans available that suit your trading needs www.tradingview.com Disclaimer: The contents in this Idea are intended for information purpose only and do not constitute investment recommendation or advice. Nor are they used to promote any specific products or services. They serve as an integral part of a case study to demonstrate fundamental concepts in risk management under given market scenarios. A full version of the disclaimer is available in our profile description. Reference: www.cmegroup.com www.cmegroup.com www.cmegroup.com
Editors' picks
COMEX:GC1!Long
by inspirante
9
THE KOG REPORTKOG Report: In last weeks KOG Report we said we would be looking for the higher level of 2015 to be completed. Based on the structure of the chart, we suggested that if we opened with a bearish set up, we would be looking for short trades into the 1990-95 level, and below that that 1975 price point. We then said if support holds below, we would be looking to take this back up to target that 2015 region and potentially above. During the course of the week we followed KOG’s bias of the day and Excalibur, competing the move down just below 1975 and then taking it back up just short with a Friday high of 2004. Even though the plan worked well, we were very selective with the days and times we wanted to trade Gold, and when we didn't want to touch it. All in all, a decent week on Gold and the numerous other pairs we trade. However, frustrating for traders with the ranging, FOMC and NFP in the same week and the choppy price action. So, what can we expect in the week ahead? For this week we have the a few levels of resistance that we will be keeping an eye on, 2008 and above that 2012-15 again. Support levels below 1980-75 which price needs to stay above, and below that the key levels of 1965 and below that 1955. This gives us a potential range for the week and the price points we will be looking to either short from, or long from. We’re expecting a bit of a choppy Monday on the markets, so potential for more ranging and whipsawing price action. Our plan for the week is similar to last week, where if the price attempts to target the high, we’ll look for the resistance levels to hold, and based on a clean set up feel an opportunity to short the market back down into the 1980 level initially could be on the horizon. Breaking that level and turning it into resistance will give us more confidence in price attempting lower price points as shown on the chart. On the flip, if price does continue to the downside from open, we will initially be looking for the break of that 1980 level before attempting any trades. If that level holds price up, an opportunity to long back up into the 2008 and above that 2012-15 price region could be on the cards, before we then see a reaction in price to come back down. It’s going to be another difficult week on the market’s traders, and we feel there is a curveball on the way, so please don’t think these are your average market conditions. They’re extremely fragile and choppy, your lot sizes, risk management and knowing when to trade, when not to trade them are imperative. KOGs bias for the week: Bullish above 1980 with targets above 2008 and above that 2012 Bearish on break of 1980 with targets below 1965 and below that 1955 Please do support us by hitting the like button, leaving a comment, and giving us a follow. We’ve been doing this for a long time now providing traders with in-depth free analysis on Gold, so your likes and comments are very much appreciated. As always, trade safe. KOG
FX:XAUUSD
by KnightsofGold
6
Major Update: Falling Wedge BreakoutMarkets (stock, crypto, forex, precious metals) may be in big trouble if the weekly close tomorrow remains above this wedge, and we head north of the two targets posted above. TVC:DXY has broken above a falling wedge after testing the top of monthly support. On its attempt to test monthly support, over two weekly candles, both closed above it and wicks failed to move below it. It reacted strongly to this making a move back above weekly support, which also served as a successful re-test for the center of a larger W or double-bottom pattern targeting the same areas (112-118 approximately): If you've followed my previous posts about DXY, I believe it is on a long path back towards its ATH. This is due to another falling wedge that can be seen when zooming out to its full-history; as shown below on the 2 week timeframe: Even with a conservative measurement it exceeds its ATH from early 1985. If this gets and holds above the bright red box, market(s) troubles may be around the corner. A previous post about this update can be found here: For an example of how markets react to movements in DXY, typically with macro negative correlation, see this example from Bitcoin vs. DXY: Additional related ideas including the two above are also linked below under the Related Ideas section. Thank you for reading, I'd love to hear your thoughts on what might be positively correlated with this movement, should it occur, or why I may be wrong about any of this. -dudebruh
TVC:DXYLong
by dudebruhwhoa
16
Gold recovers slowly but has not disappeared ?Hello dear friends! Just like yesterday, gold experienced strong fluctuations after the evening news and quickly returned to the previous trading level around $1987, with little change compared to the same time yesterday. Gold prices are seeking support from the weak performance of the US Dollar and the low interest rates of the US Treasury bonds as they attempt to stabilize after significant losses caused by the uncertain policies of the Federal Reserve. On the 4-hour analysis chart: Although gold is still limited below $2000, the long-term upward trend is still strongly supported. The strong support level at $1977 continues to serve as a good support for this precious metal. If the recovery of gold prices gains momentum, an immediate resistance level will be seen at the highest point on Wednesday, which is $1993, and above that, the $2000 level will be retested. Acceptance above the multi-month high of $2009 is crucial for a recovery towards the highest levels seen in May near $2020. What about you? Do you think gold will continue to rise? Or are you hoping for a decrease in gold prices?
OANDA:XAUUSD
by Karina_Bella
3