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Expectations for Further Gains Amid Lower Interest RatesGold prices are currently in an uptrend and have broken through the $2,730 resistance level, heading higher. The technical chart shows that the price is continuing to maintain its upward momentum within the price channel, with the 34-day EMA and 89-day EMA supporting below. However, after hitting $2,740/ounce, the price has corrected to $2,720 due to a stronger USD and profit-taking. News from China about the PBoC cutting interest rates is an important factor driving the gold market. Meanwhile, the Fed is expected to cut interest rates in November, creating expectations that gold prices will continue to rise in the long term, although there may still be short-term corrections when major central banks cut interest rates.
OANDA:XAUUSD
by Naoomi
Gold Price Rises Strongly Thanks to Geopolitics and Fed PolicyOn the chart, gold price has broken out of the resistance level at the $2,700 area and continues to maintain its upward momentum. The upward sloping trend line and the support of the EMA 34 and EMA 89 are further consolidating this trend. The possibility of gold continuing to move towards higher resistance levels is high. Geopolitical factors from the Middle East, especially the tension between Hezbollah and Israel, are boosting the safe-haven demand for gold. At the same time, the monetary policy from the US Federal Reserve (Fed) with the possibility of cutting interest rates in November is also the main driver for gold to continue to grow. In general, with a positive technical trend and support from macro news, gold prices are likely to continue to increase in the coming time.
OANDA:XAUUSD
by Naoomi
Gold Prices Rise Strongly on China and India's Demand for StockOn the chart, gold prices have broken the $2,700 resistance zone and continued to rally, with the 34-EMA and 89-EMA lines pointing up, reinforcing the short-term bullish trend. Fibonacci suggests that the next resistance level could be at $2,740, followed by $2,780, corresponding to the 1.61 and 1.68 Fibonacci levels. Although gold prices may have minor corrections in the short term, the main trend remains bullish. If gold holds above $2,700, the next target will be the $2,740 – $2,780 zone. In addition, China and India's increasing gold reserves, especially in the context of preparations for festivals and traditional New Year, are an important factor driving gold prices higher. At the end of the year, gold demand in these two countries often increases sharply because gold is used as gifts and jewelry in important events. China is one of the countries with the largest gold reserves in the world, and India is the largest gold consumer, especially during festival seasons such as Diwali or Tet. This causes a sudden increase in demand for gold, putting pressure on global supply and pushing prices higher. The central banks of China and India continue to buy gold to protect the value of their foreign exchange reserves, which creates upward pressure on gold prices in the short term and may continue to push gold prices to record highs by the end of this year. In the context of strong demand for gold from major markets such as China and India, combined with technical analysis showing that the upward momentum is dominant, I predict that gold prices are expected to continue to increase in the coming time. The next important resistance level lies at $2,740 – $2,780, and any correction is a buying opportunity.
OANDA:XAUUSD
by Naoomi
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ZM Zoom Video Communications Potential BreakoutIf you haven`t bought ZM at the end of the giant falling wedge: Now Zoom Video Communications (ZM) is currently showing a bullish pennant pattern, which is often a precursor to an upward breakout. With the stock approaching the $72 level, a breakout could lead to a swift move higher, given the strong technical setup. For speculative traders, buying the $72 strike price calls expiring this Friday at a $0.12 premium offers an appealing risk-reward ratio. If ZM breaks above the resistance, these calls could rapidly gain value.
NASDAQ:ZMLong
by TopgOptions
FXI Still Time to Capitalize on the China Stimulus RallyThe recent surge in Chinese stocks following China’s central bank stimulus announcement signals a promising opportunity for those looking at the iShares China Large-Cap ETF. The stimulus package, part of a series of aggressive moves from Chinese policymakers, reflects a significant shift in their approach to economic management. For years, China hesitated to implement large-scale stimulus measures, fearing the long-term risks. However, the latest actions show that this cautious mindset has been abandoned, with the government now prioritizing immediate economic recovery. This newfound willingness to deploy powerful monetary tools suggests that China’s central bank is prepared to act decisively to combat the economic pressures the country is facing. With this level of commitment, it’s reasonable to expect that the stimulus will have a meaningful impact, potentially accelerating growth in key sectors. The iShares China Large-Cap ETF, which tracks some of the largest Chinese companies, stands to benefit significantly from this shift. As these companies often reflect the broader health of China’s economy, investors could see strong gains in the near term as the effects of the stimulus ripple through the markets. Given the central bank's proactive measures and the potential for further interventions, the iShares China Large-Cap ETF presents a compelling opportunity for bullish investors who want to capitalize on China's economic rebound.
AMEX:FXILong
by TopgOptions
Accumulation Triangle and Economic Forecast In the current scenario, gold is sticking to a triangle pattern on the 4-hour chart, showing a sideways swing before deciding on a clear trend. The EMA (34) and EMA (89) are currently holding steady and holding key support levels, highlighting the possibility of a bounce if the price breaks above the triangle’s borders. The immediate resistance is at $2,700, and if it is cleared, the next target would be $2,720, especially if geopolitical tensions increase, which could boost demand for safe-haven assets like gold. However, if the price breaks the triangle’s support, we could see the price drop to lower levels, selling pressure could increase, especially if the US economic data continues to be positive and supportive of the USD.
OANDA:XAUUSD
by Naoomi
Current Trend and Next Key PointsThe current gold chart shows price stability around $2,660, as the EMAs (34) and (89) reflect a balance between supply and demand. This stability seems to signal that I am preparing for another breakout. With the current economic and political uncertainties, gold continues to be a safe haven asset that I am always watching. If gold can break above $2,660, I expect a new uptrend to begin; otherwise, a downside correction towards the EMA (89) could provide an attractive buying opportunity for me.
OANDA:XAUUSD
by Naoomi
Cup and Handle: Potential Breakout for GoldOn the 4-hour chart of gold, I am predicting a “Cup and Handle” pattern forming, with a strong breakout potential. This pattern is often a sign of further upside, especially when it is confirmed by a breakout above the resistance line. Recent news suggests that geopolitical instability could be a major factor pushing gold prices higher. For example, escalating tensions in the Middle East, especially armed clashes between regional powers, have prompted investors to seek gold as a safe haven. In addition, concerns about delays in tightening monetary policy by major central banks have also increased the appeal of gold.
OANDA:XAUUSD
by Naoomi
Mild Volatility in Bollinger BandsLooking at the recent gold chart, we see that the gold price is trading within a clear channel bounded by the Bollinger bands. The price is currently hovering around the midpoint, with the current price at $2,656.05/ounce. This suggests some uncertainty in the market, with the gold price not seeing much significant movement in the short term. This stability may reflect investor caution in the face of broader financial market volatility and macroeconomic factors. With key economic reports and policy makers awaiting, investors may be taking a wait-and-see approach before making any major buying or selling decisions. To mitigate risk, I recommend keeping a close eye on the support level around $2,645/ounce and the resistance level around $2,685/ounce. These price breakouts will be important signals for further moves in the gold market.
OANDA:XAUUSD
by Naoomi
Spotting Opportunities in Market VolatilityThe current gold chart shows a strong uptrend, with signs of a slight correction as it approaches the upper boundary of the price channel. The latest macroeconomic and monetary policy data has put pressure on gold, but also opens up buying opportunities at reasonable prices. The market's reaction to announcements from the Federal Reserve and important economic reports can impact gold prices. The current uncertainty can be an opportunity to increase positions in gold. Gold is in a clear uptrend channel, but has recently touched the upper part of the channel, suggesting a slight downside. The next important support level is around $2,660, where buying can be considered. Short-term profit targets can be identified near the next resistance level.
OANDA:XAUUSD
by Naoomi
USD/JPY: Key Support Spotted in DowntrendThe USD/JPY chart is clearly showing a downtrend as the price has broken below both EMAs, indicating that selling pressure is increasing. The key support level at 142.500 will be the key point to watch, as the reaction here could determine the next trend. If the price recovers from this level, there could be a buying opportunity; otherwise, a deeper decline could occur. Traders should use stop-loss orders to minimize risk in the current volatility.
by Naoomi
Gold Bullish Outlook: Cup and Handle PatternThe current gold chart is showing a Cup and Handle pattern, a technical signal that indicates a potential bullish breakout. This pattern is completed when the price breaks above the resistance line of the "Handle" section, and currently, we are witnessing signs of such a breakout. The EMA 34 and EMA 89 support the medium and long-term uptrend, reinforcing the belief in the sustainability of this bullish momentum. What do you think about this prediction, let me know in the comments!
OANDA:XAUUSD
by Naoomi
World gold may reach 2,700 USD this weekendHello everyone! Recently, gold prices have increased sharply, nearly 570 USD/ounce, after the US Federal Reserve decided to cut interest rates by another 0.5%. Currently, gold is on track to reach a new high, expected to reach 2,700 USD/ounce. The upcoming important event is the US presidential election, which can create many unpredictable fluctuations in the market, which will further promote gold as a safe haven channel that many investors prioritize.
OANDA:XAUUSDLong
by ConanTradingFX
Trend Analysis and Outlook in the Current Economic ContextThe current gold price chart reflects a bullish market, with prices hitting new highs, a testament to the growing appeal of gold as a safe-haven asset in times of uncertainty. The recent price increase is the result of a combination of the US Federal Reserve’s (Fed) monetary policies and rising geopolitical uncertainties. In particular, the Fed’s decision to cut interest rates has reduced the opportunity cost of holding gold, thereby stimulating investment demand for gold. In addition, expectations of further interest rate cuts in the future have also boosted gold prices, with the market predicting a 62% chance of the Fed cutting another 50 bps in November. In addition, geopolitical uncertainties, such as the conflict between Israel and Gaza, have also contributed to increased demand for gold. In times like these, gold is often seen as a safe-haven investment, protecting the value of assets when inflation and political uncertainty increase. In the chart, the 34 EMA and 89 EMA are both bullish, with both moving averages below the current price, further reinforcing the bullish bias.
OANDA:XAUUSD
by Naoomi
Gold Continues to ClimbThis latest gold price chart shows that prices have been in a strong uptrend. Gold has been steadily rising since the beginning of September, with many prices closing higher than they opened, which is a clear sign of investor optimism. The price has been moving within and mostly above the upper Bollinger Bands, which suggests that the price move has strong momentum, with higher than average volatility. The Bollinger Bands are now widening, a sign that price volatility is likely to continue to increase. This also reflects the level of uncertainty and volatility that the market is experiencing. The 20-day SMA, which has been acting as short-term support, now appears to be sloping up, suggesting that the uptrend is likely to continue.
OANDA:XAUUSD
by Naoomi
Gold Prices Edge Up on PPI Data, Interest Rate DecisionGold prices edged up in the US session, reacting to the latest PPI inflation data. The US Labor Department said the PPI rose 0.2% in August, beating expectations for a 0.1% increase. The core PPI also rose 0.3%, but annual wholesale inflation came in at 1.7%, below the 1.8% forecast. The move reflects concerns about inflation and expectations that the Fed will be more flexible in monetary policy, especially after the ECB cut interest rates, contributing to the appeal of gold as a safe-haven investment. Gold prices closed at $2,534.60 an ounce, up $24.10. Gold is in a strong recovery phase after hitting a low of $2,486.019. The bounce from the 0.618 Fibonacci level of gold shows a strong bullish trend, and this level is being viewed by the market as key support. After breaking above the 0.618 level, gold is now looking towards the 1.618 Fibonacci level ($2,543.422). A successful break above this level could lead to further upside towards the 1.618 Fibonacci level at $2,578.897, which would strengthen the case for a stronger uptrend. The immediate resistance to watch is at $2,578.897, an area that has seen resistance in the past. If the price fails to break above this level, a correction or trend reversal could occur. In the event of a correction, the next important support level to watch is at $2,486.019, where the price has reacted strongly in the past and could continue to be a strong bounce point for the price.
OANDA:XAUUSD
by Naoomi
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