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XAUUSD : Gold is likely to fall to 2030 and turn aroundAfter the Fed's interest rate decision last night, gold prices had a slight adjustment but immediately increased again this morning. During the January 31 session, world gold prices at times rose to the previous resistance zone at $2,055.9 but after Fed Chairman Jerome Powell's speech, gold prices returned to the $2,039 threshold. However, this morning the precious metal rebounded and approached the resistance level of $2,050. Last night, the Fed decided to keep interest rates unchanged and signaled that it was not ready to loosen policy. Powell's statement disappointed investors longing for a rate cut, and this led to a slight increase in the US dollar. Currently, the focus of the market will be the Nonfarm Payrolls report released at the end of the week. The resistance area for gold prices is still at $2,050, with the higher level at $2,065. In the event that gold's bearish momentum increases and brings the price back below the 50-day SMA, $2,005 will be in sight, followed by $1,990.
OANDA:XAUUSD
by SantaTradeGold
XAUUSD : Gold price waits for important macro data Gold prices are currently trading around $2,030 on Tuesday morning as the market awaits US jobs data and tomorrow's FOMC meeting. Gold prices are currently trading around $2,030 on Tuesday morning amid the effects of geopolitical tensions in the Middle East and market expectations about interest rates ahead of the FOMC meeting. Currently, traders are still waiting for US employment data and the FOMC meeting tomorrow in the context of market sentiment gradually shifting to risk-off due to developments in the Red Sea. Specifically, Sky News reported that US President Joe Biden may authorize military action in the Middle East. This is a response to the killing of three US soldiers by a drone attack on forces stationed in northeastern Jordan near the Syrian border. In the above context, the price of gold - a traditional safe haven - received a lot of support and had a strong reversal on Monday, hitting $2,030 when US government bond yields dropped sharply. The current focus is on US employment data, which will be the last macro data released before this week's FOMC meeting. The market currently expects the Fed to keep interest rates unchanged at its next meeting and is 46% that the Fed will begin reducing interest rates at its meeting in March. However, Fed Chairman Jerome Powell's speech after the meeting on tomorrow will be carefully evaluated by the market to have more information about future interest rates. On the daily chart, gold prices closed back above $2,030, the intersection of the 21-day and 50-day SMA. However, buyers are currently facing resistance at $2,038. However, the RSI indicator is also gradually returning to level 50, providing support for buyers. If bullish momentum consolidates and takes the price above $2,038, the psychological threshold of $2,050 will come into view, beyond which is the December 12 peak at $2,062. Conversely, if the price turns down again to the previous day's low at $2,018, gold could re-adjust to the support zone of the rising trend line at $2,012.
OANDA:XAUUSDLong
by SantaTradeGold
1
XAUUSD : Waiting for important economic data this week!World gold prices traded in range at the beginning of the week as investors awaited upcoming important economic data reports. Over the past week, gold has had strong fluctuations, rising to $2,034 and then falling to $2,012 following the PMI release on Thursday. After that, gold mainly traded within the $2,014 - $,2,024 price range from the weekend until now. Currently, gold is rising to $2,021. This week, economic reports and interest rate decisions from the Fed will give gold the momentum it needs to break out. With the PCE index continuing to decline, the Fed may consider adjusting interest rates and supporting precious metals.
OANDA:XAUUSDLong
by SantaTradeGold
GM General Motors Company Options Ahead of Earnings If you haven`t bought the dip on GM before the previous earnings: Then analyzing the options chain and the chart patterns of GM General Motors Company prior to the earnings report this week, I would consider purchasing the 35usd strike price at the money Puts with an expiration date of 2024-4-19, for a premium of approximately $1.85. If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
NYSE:GMShort
by TopgOptions
XAUUSD : Gold is continuing to fall this weekGold prices swept two-way after the announcement of US GDP, falling to $2,014 but then recovering and ending the session at $2,017. The market is now awaiting upcoming PCE data to determine the Fed's next move. During the January 25 session, world gold prices dropped to $2,014 after the fourth quarter US GDP report was higher than expected, showing that the world's largest economy is still operating stably. In case the price rises, the bulls need to scale the resistance at $2,025 and then $2,039 to move towards the current price target of $2,050. On the contrary, the bears are targeting the $2,004 support to push the price down to $2,000. Currently, gold is increasing slightly to $2,022. Today, the market will receive US PCE data for December with an expected increase of 0.2% in December. Data higher than estimates could make the Fed reconsider its current policy and push gold down further. . Gold investors will closely monitor the Fed's interest rate decision next week as the bank is expected to leave interest rates unchanged.
OANDA:XAUUSDShort
by SantaTradeGold
XAUUSD : Gold fell sharply after the PMI dataThe USD and Gold futures fell as investors waited for two important economic reports USD and gold both fell today as investors waited for two important economic reports later this week. Tomorrow the US Q4 GDP report will be released and will be followed by the PCE report for December on Friday. On Thursday, the Commerce Department will release its initial GDP estimate. In the Dow Jones survey, economists predicted that the total value of all goods and services produced in the United States will increase 1.7% for the final quarter of 2023. On Friday, the Bureau of Economic Analysis will release its latest information on inflation, releasing its PCE index for December. Core PCE is expected to increase 0.2% on the month and 3% year-over-year. If actual figures match estimates, the PCE figure will fall from 3.2% in November to 3% in December. This will be a strong sign that inflation continues to decline. Both USD and gold fell slightly, but have since recovered from their intraday lows. Today's report showed business sales increased in January and inflation appeared to have fallen sharply as prices fell to their lowest level in more than 3.5 years. The DXY index fell to 102.78 and currently stands at 103.276. Gold futures reached a bottom of $2011.70 and are currently standing at $2016. If tomorrow's Q4 GDP and Friday's December PCE report are in line with estimates, the Fed will have reason to believe inflation is approaching its target level. According to CME's FedWatch tool, there is only a 1.6% chance of a rate cut this month and a 41.3% chance of a 25bps cut in March. There is a strong possibility that the Fed will begin cutting interest rates during the meeting. FOMC meeting in May or before. The forecast tool has a 10.7% chance that the Fed will move its benchmark interest rate to between 4.75% - 5%, a 55% chance that it will be between 4.5% - 4.75%, and a 33.8% chance of a gain. Rates are in the range of 4.25% - 4.5% after the May meeting.
OANDA:XAUUSDLong
by SantaTradeGold
XAUUSD : Gold prices are expecting interest rate cuts.Slightly lower as economic data continues to improve, awaiting interest rate decisions from central banks. Gold prices fell slightly today as the market lowered expectations for interest rate cuts and the US stock market recovered. During the January 22 session, world gold prices decreased slightly when US economic data was better than expected and the market lowered expectations for interest rate cuts. The recovery of the US stock market also limited the recovery momentum of precious metals. In the long term, when the Fed decides to cut interest rates, gold will gain the necessary momentum to break out. Currently, gold is falling slightly to $2,020. Looking ahead, the market will receive the US's fourth quarter GDP report, along with interest rate decisions from the ECB, BoJ, and Canada.
OANDA:XAUUSDLong
by SantaTradeGold
XAUUSD : Gold is recovering after a sharp decline.Waiting for interest rate decisions of major banks this week. Gold steadies as the week begins, major central bank interest rate decisions and the upcoming US core PCE index could create volatility for the USD and gold. World gold price is currently increasing slightly to $2,030 after a sharp decline last week. The main barrier to gold's current increase is still the USD and US government bond yields are still high. In the long term, gold remains the favored asset as geopolitical tensions escalate and central banks reduce interest rates. This week, the market will receive the US manufacturing PMI report on Tuesday, the core PCE index on Friday, and the interest rate decisions of the ECB and BoJ. These data points will help shape the trend of USD and gold in the near future.
OANDA:XAUUSDLong
by SantaTradeGold
GOLD : Gold has not yet successfully tested support at $2,021After testing the 2021 support zone, gold increased slightly and then returned to the 2021 zone again. The 10-year US government bond yield has now increased above the psychological level of 4.0%, which has helped the US dollar increase sharply compared to most other currencies. This also caused a strong impact on XAU/USD as the gold price fell more than 1.25% in just one day. In addition, the USD's upward momentum was also reinforced by the market's reassessment of the interest rate outlook after Fed Governor Christopher Waller said that policymakers will not rush to cut interest rates until there is a clear signs that inflation can be maintained at a low level. In addition, with the US economy still maintaining a good level, the Fed may not loosen monetary policy significantly this year. Gold fell sharply on Tuesday, and is now approaching the 50-day SMA around $2,010. If buyers fail to hold this support, the bearish momentum will increase and bring the price back to the $1,990 threshold, and beyond to $1,975. Conversely, if the buyers return and create a bullish reversal, the first resistance will be at the $2,045-2,050 zone. The price may have difficulty overcoming this resistance zone. However, if buyers succeed in overcoming resistance, it will open up the potential for a rally to the December peak at $2,085.
TVC:GOLDLong
by NicoTradingMaster
XAUUSD : Buyers are gradually regaining their positionGold fell below $2,025 in the European session after being sold off on Tuesday. XAU/USD is under pressure as the USD moves higher amid escalating geopolitical risks in the Middle East and reduced market expectations for a sharp Fed rate cut in 2024. On frame D1, selling pressure increased sharply after sellers successfully tested the 21-day MA support at 2,046 USD. The bearish momentum continued to strengthen after XAU/USD closed Tuesday's session under Symmetrical Triangle support near $2,031, with the RSI remaining below 40 and slightly down. Immediate support to watch is the 50-day MA at $2,021, with the next target at $2,010. If these areas are successfully tested, gold will be sold off to the $2,000 area. On the contrary, for gold to recover, the first target for buyers is Symmetrical Triangle support near $2,033, then $2,046 (21-day MA and Triangle resistance). mentioned above) and the 2,050 USD mark.
OANDA:XAUUSD
by NicoTradingMaster
XAUUSD : Gold buyers are gradually weakening.With the USD returning to upward momentum recently, gold prices have witnessed a slight correction to important support zones. World gold prices fluctuated strongly on Tuesday when the USD recovered, due to increased US government bond yields. However, geopolitical tensions in the Middle East are a factor helping to stop the decline of gold. Currently, the price has returned to trendline support around $2,030, which is an important level that buyers need to hold to limit gold's further decline. Gold is under selling pressure as the USD increases thanks to the recovery in US government bond yields across all terms. Immediate support to watch is at $2,027, with the next target being the 50-day MA at $2,020. If Gold does not break through this support, it is likely that gold will find the resistance level of 2047. Buyers will regain their position after yesterday's decline.
OANDA:XAUUSDLong
by SantaTradeGold
EurUsd- Will it break support and dive to 1.0750?Last week, I held a bullish stance on Eur/Usd, anticipating a breakthrough above the crucial 1.1 resistance level. Unfortunately, the pair's inability to surpass this significant threshold led me to close my trade at breakeven, prompting a decision to adopt a wait-and-see approach for further clarification. Examining the recent price action, it appears that my patience might be rewarded with a clearer picture emerging. Currently, my perspective has shifted to bearish. The chart illustrates that Eur/Usd is struggling to breach the 1.1 mark and instead continues to decline to support around 1.0920. This inability to surpass 1.1 and dropping to support after touching this level, signifies weakness, raising the likelihood of a downward move below the support level. In such a scenario, the pair could experience an acceleration in losses, with the next notable target standing at the critical support level of 1.0750.
Short
by Mihai_Iacob
1
XAUUSD: The gold market will be affected by Middle East politicsWorld gold prices increased slightly as geopolitical tensions risked prolonging and the market raised the valuation of the Fed to cut interest rates. World gold prices continue to increase thanks to escalating geopolitical tensions in the Middle East and the risk of prolongation. With the conflict in Ukraine and the US economy showing signs of decline through the recent PPI index, the safe-haven appeal of gold continues to be exploited. Gold is currently approaching a sizable resistance level at $2,050 and this level could limit gold's upward momentum for the time being. Currently, gold is moving around $2,052. Coming up this week, the market will receive many important news, including the Fed's Beige Book, US retail sales and some speeches by Fed officials.
OANDA:XAUUSDLong
by SantaTradeGold
XAUUSD : Gold prices and worries about geopolitical instabilityWith the war situation in the Middle East continuously escalating, gold prices may continue to increase next week. In the past week, although the gold price had a downward adjustment after the US CPI data was released, the price immediately rebounded after the USD weakened because the market continued to expect the Fed to cut reduce interest rates next March. In addition, escalating geopolitical tensions in the Middle East have also contributed to the increase in gold prices. Gold experienced a steady rise near the weekend thanks to geopolitical tensions and weakness in the US dollar. The coordinated attack between the US and UK on the Houthi rebels in Yemen in recent days has made the market concerned that the war situation may gradually get worse. In addition, US government bond yields have also decreased slightly over the past month as the market continues to expect the Fed will cut interest rates in the near future. According to CME Fed Watch, traders are expecting the Fed to reduce interest rates by a total of 150 bps this year with the first reduction starting in March. This has caused the 2-year US government bond to fall to 4.15 % from a multi-year record high of 5.26% in October 2023.
OANDA:XAUUSDShort
by SantaTradeGold
XAUUSD : Gold adjusted down after the US CPI reportWorld gold prices are currently recovering after a decline as the US CPI reported data was stronger than expected and the unemployment benefit claims data missed estimates, which could delay the Fed's decision to cut interest rates. in the current period and will affect precious metals. After falling to $2,014, gold is now recovering to $2,034. The market will soon receive the release of US PPI data along with a speech by Minneapolis Fed President Neel Kashkar. Although gold prices have continued to decline, the downward momentum has gradually weakened, enough to create a bullish candle on the daily chart. Currently, precious metals are still supported by expectations of Fed interest rate cuts and the weakening of US government bond yields. Along with that is the appeal of a safe haven asset when geopolitical instability is escalating.
OANDA:XAUUSD
by SantaTradeGold
XAUUSD : The entire market is focused on the US inflation reportGold increased slightly thanks to DXY's decline after a few recovery sessions. The market held its breath waiting for the US inflation report at the end of the day. During the January 10 session, world gold prices decreased slightly and stabilized as investors waited for the US inflation report. DXY's slight decline after a few recovery sessions could help gold rise again today. Gold is still a popular asset in the context of high world inflation and Middle East geopolitical tensions. Gold is currently recovering to $2,028 after falling to $2,024 yesterday. On frame D1, the 100-day MA increased above the 200-day MA last Friday, confirming the uptrend of gold. However, the RSI is currently flat and close to 50, showing that the upward momentum is weakening. If the recovery consolidates, immediate resistance to watch will be the 21-day MA at $2,045, followed by Friday's session high at $2,054 and the $2,100 mark. On the contrary, sellers may look towards the $2,015 area, with the 50-day MA and Monday's session bottom. A successful test of this support could extend the downward momentum towards the $2,000 mark.
OANDA:XAUUSD
by SantaTradeGold
XAUUSD : US inflation report will boost market trendWhile the US central bank turned more cautious at its December meeting, markets ignored this and overpriced a cut for a still resilient economy. strengthening and inflation remains high. To better understand the Fed's next moves, traders should keep an eye on the US economic calendar this week, paying particular attention to the December CPI report on Thursday morning. Although core inflation is expected to have cooled last month, headline inflation is seen recovering, rising from 3.1% to 3.2%, which is not good for policymakers and certainly will negatively impact market psychology. For gold prices to regain upward momentum in the near future, the latest US CPI data needs to show signs that prices are gradually stabilizing. Otherwise, the Fed may continue to delay its interest rate reduction cycle. In the event of an unexpected increase in inflation reports, the market may raise the valuation of interest rate increases, causing government bond yields to skyrocket. Gold could experience stronger downward corrections in the coming days and weeks. Gold continued to decline on Tuesday after slipping below the key support zone at $2,050 - $2,045 last week. Sustaining prices below this zone could reinforce bearish pressure, pushing gold to its 50-day SMA near $2,010, then to $1,990. On the other hand, if the buyers return, resistance will appear at $2,045-$2,050. A break above this level could push the price to $2,085, and then to its highest peak on record.
OANDA:XAUUSDShort
by SantaTradeGold
GBPUSD is trending upAfter a four-day consecutive correction from the high point of $2,088 on December 28th, gold prices saw a slight increase on Thursday, reaching above $2,050. This indicates that the correction signal for a larger uptrend still receives some support, as technical studies in the daily chart remain in the main bullish trend. Gold continues to benefit from the widespread expectation that the Fed will begin cutting interest rates in 2024, as well as signals suggesting a potential economic slowdown in the US this year. However, due to the minutes of the meeting showing significant uncertainty about the prospect of a Fed rate cut, the expectations for an early rate cut in March have gradually diminished. This has created resistance to further upward movement in gold prices and made the downside risks more fragile. Bulls need to break the key resistance between $2,052 and $2,058 to initiate new bullish momentum and achieve a stronger recovery. Breaking this range, bulls will face strong resistance at $2,063-$2,066 to strengthen the bullish structure and attempt to break above $2,100 again. However, as the New York session progresses, a series of data releases have not supported this structure, increasing the risk of further downside for gold prices. In this context, the fragility of gold prices needs to adjust downward until testing the upward trend support at $2,009. In terms of trading strategy, it is recommended to go short at highs.
by NicoTradingMaster