Gold's next developmentsHello traders. What do you think about Gold? Currently gold is trading at 1927 USD. After receiving strong support at 1914 USD. Gold prices fell for the third straight day on Thursday. The drop comes as interest rates fall suggesting a significant decline may not be on the horizon at this point. However, in the short term, when gold reached the resistance level and quickly retreated to 1905 USD before any new developments appeared from positive information from the Fed in the near future. And it may return to the original target of the weekly high of 1947 USD/Troy Ounce (September 20).
Predictive
Gold continues to find a bottom below 1910 USDHello dear traders, what do you think about Gold?
Currently, the gold market continues to decline after breaking the upward trend line at $1920 and trading at $1911, a decrease of about $5 compared to this morning's trading session.
It can be seen that the recovery of the US dollar is an important factor affecting this precious metal, causing its price to drop. On the 4-hour chart, gold is still searching for a new low price. We still maintain the view that the important support level to watch is $1910 per ounce.
NZDUSD after creating 2 peaks, short-term setupHello traders. What do you think about NZDUSD? Currently, the market is not much volatile as it is trading around the 0.595 price level after facing significant selling pressure near the 0.6000 psychological resistance level.
Now looking at the technical picture on the 4-hour timeframe, we can see that yesterday the pair formed a double top candle. Expect this pair to drop to at least the specified level then rise back to the specified level.
GBPUSD continues its downtrendHello dear traders! What do you think about GBP/USD?
Today, GBPUSD continued its losing streak reaching its lowest level in many months. Currently, the price is trading at 1.2265 and still shows no signs of exiting the downtrend. On the other hand, UK economic data is weakening so the path of least resistance for the pair right now is bearish.
1.2240 is considered the immediate support for this pair. A close below that level on the 1D chart could open the door to further declines towards 1.217 and 1.205.
In the short term it is expected to fall to at least the indicated level after retracing to the breached level.
What does the gold price at the beginning of the week promise?The world gold price is trading at 1,924 USD/ounce, down slightly by 1 USD/ounce compared to last week's closing session. Gold price is currently still trying to stay above 1,920 USD. After being surrounded by a lot of pressure, the precious metal price still maintains a stable price, helping to strengthen investors' confidence in a safe haven asset.
Gold prices remain confined below key support-resistance at $1,926. However, in the long term, it is believed that gold prices may increase due to “market overreaction to the Fed; Inflation has not ended and the economy is on the brink of recession, which will be a favorable environment for gold."
GBP/USD fights in a downtrendGBPUSD broke the low of 1.23081, coinciding with sell-side liquidity, making it a medium-term level for sellers' profit targets. Further declines below that are possible towards 1.21700. I would like to see sellers attack that near-term support level in the near term before we reach new targets.
GBPUSD tests the declineGBP/USD is testing daily lows near 1.2270 on upbeat retail sales data from the UK. It last traded at 1.2272, down 0.16% on the day.
Overall, we can see that the main trend for the pair so far is bearish, so the downside is that if that happens, it will likely reach 1.205 close to 1.2000.
GBP/USD continues its multi-month downtrendToday, the GBP/USD exchange rate continues to weaken near its lowest level in many months, trading around 1,219. GU is close to its highest level since the beginning of the year, amid a hawkish Fed outlook and rising US bond yields. Last week's surprise BoE pause continued to weigh on GBP and put further pressure on the currency.
Looking at the 1D timeframe, we can see that GBPUSD has dropped to support compared to previous months. However, given that the downtrend has not stopped, it is expected that the pair will fall to the designated level of 1,201.
Expect gold this weekHello dear friends. What do you think about Gold?
After the opening price at the beginning of the week, we witnessed a slight decrease in Gold, from 1925 USD to 1923 USD. Gold continues to trade in a neutral range as the Federal Reserve kept interest rates unchanged in its September monetary policy meeting.
Technically: A drop is expected at least to the next Critical Support level which is anticipated at $1900 after a retracement to the broken level and then a rise to the prescribed level.
NZDUSD creates double top - short orderEUR/USD holds near 1.0650 and is currently trading around 0.595, after coming under severe selling pressure near the 0.6000 psychological threshold and has formed a double top on the 4-hour chart.
According to AD's personal opinion, it is expected to drop to the support level of 0.585 in the near future after adjusting back to the broken trend area.
EUR/USD bounces off 6-month lowAfter falling to a new several-month low, the Euro (EUR) is attempting to recover some of its losses against the US Dollar (USD), pushing EUR/USD back to the 1.0650 region at the open. European doors on Thursday.
Looking at the technical picture we can see that the pair still holds the support level at 1.0640. So in general, if this support level is not broken, we can consider buying.
Looking ahead, NZD/USD is down in the short termNZD_USD price rebounded to retest the 0.5929 resistance level which is likely to break this resistance and test the 0.5932 , 0.5937 level
But this is a strong critical level
So I think there is a high possibility
We will see a bearish move in the short term
Analyzing USDJPY today, what should you note?Today, USD could rise further, but it is unlikely to threaten a significant biological boost at 148.86. To maintain the uptrend, USD needs to stay above 147.68.
BUT! The USD rose today with the DXY index around 105 points as Fed officials remained hawkish, which affected the USD/JPY pair.
The GBP/USD pair continues to maintain a downtrendThe GBP/USD pair maintained its sequential downtrend on Tuesday and remained confined below the 1.2400 level during the Asian session. Meanwhile, prices hit their lowest since June last week and a lack of buying power suggests the path of less resistance is now down.
How does gold fluctuate after news from the FED?Gold today traded stably around 1927 USD.
Yesterday's news update:
As you may have noticed, after the Federal Reserve (Fed) announced news about gold interest rates there was a strong reaction and spiked to a high of 1945 USD. However, when the Fed decided to keep interest rates unchanged at 5.25% to 5.50%, gold quickly returned to a lower price of 1927 USD.
Looking at the technical picture we can see that Gold is in an uptrend after receiving support from the low of $1901. Given that Gold's main trend line is still intact, the possibility of Gold increasing is quite high. If the Fed reduces interest rates in the near future, Gold will likely break the resistance level of 1950 USD.
What should EUR/USD pay attention to?The fundamental and technical outlook for the EUR/USD currency pair is mixed. The US economy is performing better than the Eurozone economy, but the Fed is also predicted to raise interest rates more aggressively than the ECB. This could cause EUR/USD to weaken in the coming months.
Technical analysis
The price is in a minor correction uptrend, as marked in the chart. Don't get carried away by this and remember that the market is unpredictable, but for now I would mark this as LONG, for a short period of time. BUT! On the H4 chart and on the D1 chart, the EUR/USD currency pair is also trading in a downtrend.
XAU- recovered thanks to USD cooling downToday, gold continues to increase mainly thanks to the decline in the value of the US dollar. The DXY index fell from over 105 points to 104.5 points.
It is likely that the Federal Reserve will keep interest rates steady in the 5.25% - 5.5% range at its upcoming meeting. This partly strengthens gold prices and creates an opportunity for gold to return to 1950 USD.
How does the world gold price change today?The global price of gold slightly dropped to $1,936 per ounce and has remained low for the past three weeks. Despite the US credit rating downgrade, the dollar continues to trade at its highest level in the past month, which has contributed to the decline in gold prices.
Additionally, the 10-year US Treasury bond yield reached a nine-month high at 4.1360%. On August 3, the Bank of England raised interest rates by 25 basis points, reaching a 15-year high.
Investors are currently awaiting the release of the US jobs report, which could impact the Federal Reserve's policy stance. Ryan McKay, a commodity strategist at TD Securities, emphasizes the significance of this data, particularly given the recent positive economic indicators in the US, which have influenced market sentiment and the possibility of the Fed maintaining higher interest rates for a longer period.
SPY Cycle Patterns are incredible.Have you ever seen anything that can attempt to predict price trends 30 to 60+ days in advance? Other than Japanese Candlesticks, and quite possibly Elliot Wave, I've never seen anything have the predictive qualities of my short-term & long-term Cycle Patterns.
This is a Daily SPY chart highlighting the cycle patterns that aligned with certain days. As I'm watching these cycle patterns unfold, I'm seeing more and more details emerge.
For example, the current week showed the following:
9-4: Temp Bottom
9-5: Top/Resistance
9-6: Breakdown
9-7: Carryover
9-8: Inside-Breakaway
9-9: Breakaway
9-10: Rally
9-11: N/A
9-12: N/A
A temporary bottom, followed by a top/breakdown in trend on 9-5/9-6. The "carryover" pattern can act like a reversion price trend, or a continuation price trend. Today it resulted in a reversion higher.
Tomorrow the cycle patterns are predicting an Inside-Breakaway followed by a Rally on Friday (9-9 & 9-10).
I expect the US markets will rally higher on some news related to some moderate global crisis. This may send Gold/Silver higher and may drag Bitcoin higher as well. What I expect is a flood of moderate buying to close out this week - catching traders by surprise.
BTC Turning Point and Conformation Via HashRateThe Hashrate Lines are messed up, more to provoke thought. I encourage you to explore this relation on your own terms.
Blue = HashValley
Orange = HashPeak
Theory:
Orange signals end of run up
Blue signals end of run down
Blue -> Orange = Upwards
Blue -> Blue = Double bottom
Orange -> Blue = Downwards
Orange -> Orange = Double peak
Characteristics:
During bull market parabolic
movement is towards the
upside, the opposite can be said
for the bear market.
what this means for this chart is
that the price movement
from blue to orange and vice versa
will not always be the same shape.
The distance between
peaks and valleys also determines
what would be (if the price movement
were a parabola) the a coefficient
(the variable which stretches
a parabola along the y axis)
I would describe this relationship as
inverse, ie: as distance increases
points of interest (within a
set tolerance), coefficient a
approaches 0
These HashRate peaks and valleys are picked by hand, though you could probably come up with a formula to do this yourself
ACCUMULATION PHASE A : BTC 1D Timeframe 2021/06/07BITBAY:BTCUSD
This chart analysis is simplified and gamed by previous success methods by yours truly. DYOR, take it with a grain of salt if matters of analysis conflict with yours.
Wycoff Phase A
Fundamentals
Widening spread on chart and selling pressure due to lack in news affected price action (1 of many catalysts) followed by AR (automatic rally); price will test supply and demand levels at SC level.
Institutional demand ensuing.
Manipulators by large stopping downtrend after fake out. Bubbles of distribution meeting a center in price action. Short-coverings included.
Summary
PS - Preliminary Support holds support in channel.
SC - Selling Climax too follow.
Key Notes:
Williams R% has aided in effectively predicted trend projections 10/10 times this quarter on daily time frames for me personally chart is not focused on this momentum oscillator but I do implore onlookers to gather reflections.
Gaining effective trend lines are merely encouraged by simple level tests.
Manipulators are neither conspiratorial nor fictitious. They vary in size, however institutional demand has existed since 2009. Concentration of manipulators are as natural as retail, some say slowly gaining equal and collective boundaries.
Thanks, be easy.