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The price of gold has reached an all-time high.Gold prices (XAU/USD) rose for the fourth straight day, surpassing $2,712 and reaching a new record high in Asian trading on Friday. Key factors include anticipated interest rate cuts from major central banks, tensions in the Middle East, and U.S. election uncertainties. Positive U.S. economic data on Thursday reinforced expectations for modest Fed rate cuts, boosting the dollar to its highest level since early August. Despite this, bullish sentiment around gold remains strong as prices trend upward this week. Personal opinion: The recent rise in gold prices is driven by geopolitical tensions and anticipated interest rate cuts, making it attractive for investors seeking a safe haven. It’s interesting to see how external events strongly influence the market. Gold seems well-positioned to continue attracting interest. Pay attention to the price range: Buy zone: 2690 - 2688 SL: 2683 Buy Scalp: 2702 - 2700 SL: 2695 Sell Zone: 2722 - 2724 SL: 2729
OANDA:XAUUSDLong
by Chana-Trading
1
Gold is at a record high, and a rising USD may limit growth.Gold prices (XAU/USD) rose for the third consecutive day on Thursday, marking the sixth positive day in the last seven, as it tested an all-time high in Asian trading. Anticipated rate cuts from major central banks and geopolitical risks from the Middle East are driving interest in gold. Meanwhile, expectations of modest Fed rate cuts next year have kept the US dollar (USD) near its highest level since early August, limiting new bullish bets on gold. Traders are now focused on US macro data for momentum in the North American session. Personal opinion: Currently, there are positive signs that could push gold prices up to $2,700. If there are more buying transactions, this will create new momentum for optimistic traders, helping to extend the upward trend for several months. This outlook is further reinforced by the fact that daily chart fluctuations remain in the positive zone and are still far from being overbought. Pay attention to the price range: Buy zone: 2650 - 2652 SL: 2645 Buy zone: 2664 - 2666 SL: 2659 Sell zone: 2684 - 2686 SL: 2691 SELL ZONE: 2700
OANDA:XAUUSDLong
by Chana-Trading
1
Globus Medical: Approaching resistance, is a breakthrough comingWeekly Chart ● The stock has tested the trendline resistance multiple times. ● Currently, it is trading just below this level. ● A breakout above this resistance is anticipated in the near future. ● Following the breakout, the price may increase. Daily Chart ● A Symmetrical Triangle pattern has formed. ● A strong breakout has taken place, supported by significant volume. ● The price is now set for a potential upward movement.
NYSE:GMEDLong
by NaranjCapital
Gold Price Analysis October 16Fundamental Analysis Gold prices traded in a positive bias for the second consecutive day and maintained intraday gains near the $2,675 region or a three-week high in the first half of the European session on Wednesday. Amid persistent geopolitical risks, disappointment over the lack of details on China’s fiscal stimulus dampened investor appetite for riskier assets. This was evident in the weaker tone in equity markets and turned out to be a key factor in favor of the safe-haven precious metal. Meanwhile, anti-risk flows led to a further decline in US Treasury yields and provided further support to non-yielding gold. That said, the solid expectations of less aggressive easing by the Federal Reserve (Fed) and bets on a regular 25 basis points (bps) rate cut in November will act as a driver of US bond yields. This, in turn, has lifted the US dollar (USD) to its highest in more than two months and could deter bullish traders from placing fresh bets on the commodity. Technical Analysis Gold’s break above 2680 is currently unresponsive. SELL points are in focus around 2684-2686. Above this level, only the 2700 price zone remains. A pullback is increasingly unlikely as the key area of ​​interest will be today’s Asian session low around 2660. Wishing you a successful trading day. A scalping hook around 2670 could be a breakout point as the European session enters but this point is likely to be false
OANDA:XAUUSD
by TVS-Trader
Gold reached a three-week high, capped by a rising dollar.Gold prices (XAU/USD) rose for the second consecutive day on Wednesday, reaching a three-week high around $2,677-$2,678 due to a downturn in the stock market and geopolitical risks. The flight to safety led to a decline in U.S. Treasury yields, supporting gold. However, expectations of less aggressive easing from the Federal Reserve and a strengthening U.S. Dollar may limit gold's upward momentum in the near term. Personal opinion: Any further price increases are likely to encounter resistance near the $2.685-$2.686 range or the all-time high reached in September. Following that is the round number of $2.700; a decisive breakout above this level would set the stage for a multi-month uptrend amid positive fluctuations on the daily chart. Pay attention to the price range: Buy Zone: 2647 - 2645 SL: 2640 Buy Zone: 2660 - 2658 SL: 2653 Sell Zone: 2683 - 2685 SL: 2690
OANDA:XAUUSDLong
by Chana-Trading
GOLD ROUTE MAP UPDATEHey Everyone, Another great day on the charts today with our plans to buy di-s playing out as analysed with the Goldturn kevels giving us the bounces with precision accuracy. We got the break below 2646 followed with the 1st level 2638 retracement range test, which gave the perfect precision bounce, all the way into 2646, 2654 and now 2663 for the retest. We will now wait for a cross and lock above 2663 to open 2672, although we have a candle body close confirmation for 2672 already. Failure to lock above this level will follow with a rejection back to re-test the lower Goldturns once again. We need to also keep in mind, while buying dips and managing the range that the full retracement was not tested and only the 1st level. We will keep the above in mind when taking buys from dips. Our updated levels and weighted levels will allow us to track the movement down and then catch bounces up. We will continue to buy dips using our support levels taking 30 to 40 pips. As stated before each of our level structures give 20 to 40 pip bounces, which is enough for a nice entry and exit. If you back test the levels we shared every week for the past 24 months, you can see how effectively they were used to trade with or against short/mid term swings and trends. BULLISH TARGET 2663 - DONE EMA5 CROSS AND LOCK ABOVE 2663 WILL OPEN THE FOLLOWING BULLISH TARGET 2672 BEARISH TARGETS 2654 - DONE EMA5 CROSS AND LOCK BELOW 2654 WILL OPEN THE FOLLOWING BEARISH TARGET BEARISH TARGET 2646 - DONE EMA5 CROSS AND LOCK BELOW 2646 WILL OPEN THE RETRACEMENT RANGE RETRACEMENT RANGE 2638 (DONE) - 2628 EMA5 CROSS AND LOCK BELOW 2628 WILL OPEN THE SWING RANGE SWING RANGE 2618 - 2608 As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Thank you all for your likes, comments and follows, we really appreciate it! Mr Gold GoldViewFX
OANDA:XAUUSD
by Goldviewfx
14
XAUUSD / RANGE BETWEEN 2,68$ AND 2,645$ / 1H XAUUSD / 1H TIME FRAME HELLO TRADERS The market experienced a significant price rise, with a 230 pip profit after reaching a demand zone (an area where buying interest is strong). Prices are now trading between $2,668 and $2,645, creating a defined range. A break below $2,645 signals a potential further decline to the next demand zone between $2,645 and $2,636. A break above $2,668 could lead to a price rise, first to an all-time high (ATH) at $2,685. If prices break above $2,685, the market might witness new historical peaks. Supply Zone : 2,668$ and 2,685$ ( ATH ). Demand Zone ; 2,645$ and 2,636$.
OANDA:XAUUSDShort
by ArinaKarayi
XAUUSD / BREAKOUT THE TREND / 1HXAUUSD / 1H TIME FRAME HELLO TRADERS Price Movement on Friday , The price rose by 0.93%, trying to reach $2,668 before declining to $2,645 and $2,636. Key Level at $2,668 , If the price breaks and stabilizes above $2,668, further upward movement is expected. The target for this rise is the all-time high (ATH) at $2,685. Stabilizing Below $2,668 , If the price stabilizes below $2,668, it suggests a continued decline toward $2,645 and $2,636. Breaking the ATH of $2,685 , If the ATH is broken, prices are predicted to move into a new historical zone between $2,700 and $2,710. Breaking the Demand Zone at $2,636 , If prices break below and stabilize under $2,636, it indicates further declines. Trading Range , The price is expected to fluctuate between $2,685 and $2,604 overall. Key Points: Price Target Levels: $2,668, $2,685 (ATH), $2,700-$2,710 (new zone), and $2,636 (demand zone).
OANDA:XAUUSDLong
by ArinaKarayi
NAS100USD / UNDER UPWARD PRESSURE / 4HNAS100USD / 4H TIME FRAME HELLO TRADERS The price is attempting to re-enter a supply zone between 20,356 and 20,209. A supply zone is a price range where selling pressure may increase, potentially driving the price down. If the price breaks below this supply zone, it is expected to move toward a demand zone between 19,883 and 19,727. A demand zone is a range where buying pressure might increase, supporting the price and potentially causing it to rise. If the price closes a 4-hour candle either inside the supply zone or demand zone, it suggests increased momentum in that direction If prices close in the demand zone and then recover, there is a potential to move upward toward the next supply zone, between 20,607 and 20,796. Supply Zone : 20,607 and 20,796. Demand Zone : 19,883 and 19,727.
OANDA:NAS100USDLong
by ArinaKarayi
Market News Report - 13 October 2024The US dollar was buoyant this week against many currencies, continuing the same trend from the previous week. CHF was a close second, while the Japanese yen found itself among the weakest currencies. Let's dive into what we should expect for each major forex market in our latest fundamental report. Market Overview Below is a brief technical and fundamental analysis breakdown for all major currencies. US dollar (USD) Short-term outlook: bearish. Despite a recent 50 basis points (bps) rate cut, the Fed may not need to cut rates as aggressively going forward. This is partly due to positive job numbers and earnings data that exceeded expectations. Still, the central bank has signalled the potential for two 25 bps drops by the end of this year. Meanwhile, a 50 bps cut has pretty much been priced out, with STIR (short-term interest rate) markets seeing a 14% chance of a hold next month. After weeks of ranging around the key support area at 100.157, the DXY made its intention known to head north. We spoke about a potential technically-driven retracement (despite the bearish fundamentals). Meanwhile, the key resistance is far away at 107.348, which will remain untouched for some time. Long-term outlook: weak bearish. The latest strong NFP report has raised expectations for a 25 bps rate cut (instead of 50 bps), which is giving USD a boost in the near term. So, there is no extreme dovish pricing anymore. While the bearish bias remains, the dollar may gain amid a broad pullback. Euro (EUR) Short-term outlook: bearish. As usual, the STIR (short-term interest markets) were predictably accurate as the European Central Bank (ECB) cut the interest rate a few weeks ago. While 'being mum' about forward guidance, they revised core inflation projections higher. Also, the past week saw weaker economic data across various European nations. Finally, short-term interest rate (STIR) markets have indicated a 92% chance of a rate cut at the October 17 meeting. The euro has finally made its bearish intention known on the charts after spending weeks near the resistance at 1.12757. Meanwhile, this market isn't too far away from the key support at 1.07774. Long-term outlook: bearish. The ECB has yet to commit to a specific future path with the interest rate for some time. Due to lingering concerns over services inflation, a rate cut has become more likely than before and will be a key driver soon. British pound (GBP) Short-term outlook: bearish. The Bank of England (BoE) kept the interest rate steady in its recent meeting. Still, the language indicates that they need to be “restrictive for sufficiently long.” Also, the central bank's higher-ups stressed "a gradual need" to cut rates. As with the ECB, the central bank's current key theme is fighting persistent inflation in the United Kingdom. So, it makes more sense to be dovish than hawkish. Not long ago, Governor Bailey hinted that "aggressive rate cuts" were possible if inflation went lower. This week, watch out for several key economic releases for GBP, such as the YoY inflation rate and unemployment rate. We mentioned that the past week's downturn may be the start of a more serious bear move. So far, that's what the pound is experiencing. The next resistance target is 1.34825, while the nearest key support is at 1.26156. Long-term outlook: weak bearish. Sequential rate cuts by the BoE may soon be a reality. Also, expect any weak CPI, labour, and GDP data to back up the bearish bias. However, the central bank hopes for lower service inflation, which may provide relief. Another interesting point is the latest CFTC (Commodity Futures Trading Commission) report, showing that GBP longs have been stretched to the upside. So, bullishness should be limited at some point. Japanese yen (JPY) Short-term outlook: bullish. The primary bullish catalyst is the Bank of Japan’s (BoJ) recent decision to hike the interest rate. STIR markets expect a hold (99% probability) at the next meeting but a hike at the start of next year. ​​Governor Ueda of the BoJ noted that despite domestic economic recovery, recent exchange rate movements have reduced the upside risk of inflation (which has been on an upward trajectory). All of this backs up the potential for a rate hold or hike. Keep an eye on the latest YoY inflation for JPY this Friday. The 140.252 support area is proving quite strong, boosting the yen since mid-September. Still, the major resistance (at 161.950) is too far for traders to worry about. Long-term outlook: weak bullish. Lower US Treasury yields are one potential bullish catalyst for the yen (the opposite is true). Inflation pressures and wage growth would also provide upward momentum. We should also consider that the dovish tendencies of other major central banks and worsening US macro conditions are JPY-positive Still, as a slight downer, near-term inflation risks subsiding (according to the BoJ) reduce the urgency for a rate hiking cycle. Australian dollar (AUD) Short-term outlook: weak bullish. The Reserve Bank of Australia (RBA) kept the interest rate unchanged during the Sept. 25 meeting. They further stated that they "did not explicitly consider rate hikes" for the future, which is a marginally dovish statement. The Aussie remains sensitive to China’s recent economic woes, especially with declining iron ore prices from the country’s steelmakers. As always, it depends on drops or rises in economic data like GDP, inflation, and labour. After failing to break the 0.69426 resistance level several times, the Aussie retraced noticeably from this area. Still, this market is bullish and far from the major support level at 0.63484. Long-term outlook: weak bullish. The RBA has certainly changed their tune from hawkish to slightly hawkish/dovish. Overall, it's crucial to be data-dependent with the Aussie, especially with core inflation as the RBA's key focus area. However, the Australian dollar is pro-cyclical, meaning exposure to the economies of other countries. New Zealand dollar (NZD) Short-term outlook: weak bearish. Unsurprisingly, the Reserve Bank of New Zealand (RBNZD) cut its interest rate by 50 bps last Wednesday and sees further easing ahead. This affirms another cut next month of potentially the same magnitude. Furthermore, the central bank is confident that inflation will remain in the target zone, adding more impetus to the bearish bias. Due to the recent rate cut, the Kiwi has been on a downward spiral, proving the strength of the major resistance level at 0.63696. Conversely, the major support is at 0.58498. Long-term outlook: bearish. The central bank's latest dovish stance (where it cut the interest rate) firmly puts the Kiwi in a 'bearish bracket.' They also revised the OCR rates lower and signaled steady winnings in the inflation battle. Canadian dollar (CAD) Short-term outlook: bearish. The Bank of Canada (BoC) recently dropped the interest rate to 4.25%, as anticipated by the markets for some time. Further cuts in the next few meetings are on the cards (with a 37% chance of a 50 bps cut next month), with the long-term target being 3%. Unemployment, weak economic growth, and mortgage stress are the key drivers for this dovishness. Watch out for the new YoY inflation rate for the Canadian dollar on Tuesday. While the short-term fundamental biases of USD and CAD are bearish, CAD is weaker on the charts. USD/CAD is making a steady uptick towards the key resistance at 1.39468, while the key support lies down at 1.33586. Long-term outlook: weak bearish. Expectations of a rate cut remain the focal point. Governor Macklem himself stated a while ago that it's reasonable to expect more cuts in the future. Any big misses in the upcoming data for GBP, inflation, and GDP will probably boost the chance of a rate cut. STIR markets see a 63% chance of the latter happening later this month. Also, mortgage stress remains a major factor in this interest rate policy, and the BoC will have to cut rates to alleviate it. Expect encouraging oil prices and general economic data improvement to save the Canadian dollar's blushes. Swiss franc (CHF) Short-term outlook: bearish. STIR markets were, as usual, correct in their 43% chance of a 25bps rate cut (from 1.25% to 1%) recently. In the Sept. 26 meeting, the Swiss National (SNB) indicated its preparedness to intervene in the FX market and further rate cuts in the coming quarters. The central bank's new Chair (Schlegel) said they "cannot rule out negative rates." Finally, the September CPI came in weak at 0.8%, against the expected year-on-year 1.1%. Still, the Swiss franc can strengthen during geopolitical tensions, such as a worsening Middle East crisis. USD/CHF has just broken out of the range (but only just) discussed in our last report. While remaining largely bearish, this market could return closer to the major support level at 0.83326 or climb its way to the higher major resistance level at 0.92244. Long-term outlook: weak bearish. The bearish sentiment remains after the last SNB meeting, while inflation is being tamed with lower revisions. We should also remember that the SNB's intervention prevents the appreciation of the Swiss franc. The new chairman is more keen to cut rates than his predecessor, Jordan. STIR markets are currently pricing a 23% chance of a 50 bps cut at the December meeting. On the flip side, 'safe haven flows' and geopolitical risks can be positively supportive for the currency. As with other central banks, inflation is a crucial metric in the SNB's policy rates. Conclusion In summary: -There are plenty of new inflation rate announcements to diarise this week. -The euro's interest rate decision is the most anticipated news event heading into the new week. - All our fundamental outlooks for each currency remain unchanged except for a higher bearish inclination for NZD. As always, hope for the best and prepare for the worst. This report should help you determine your bias toward each currency in the short and long term.
TVC:DXY
by CityTradersImperium_CTI
GOLD ROUTE MAP UPDATEHey Everyone, Once again a great start to the week with our 1 chart idea already playing out to perfection!! We got our Bullish target 2663 hit followed with no cross and lock confirming the rejection into our bearish target 2654. We then got our cross and lock below 2654 opening 2646, which was hit perfectly. 2646. 2646 is also currently giving the weighted bounce just like we analysed for the weighted bounce. We will now wait to see if we get a cross and lock below 2646 to open the retracement range or failure to lock below this level will follow with another push up to re-test the levels above. We will keep the above in mind when taking buys from dips. Our updated levels and weighted levels will allow us to track the movement down and then catch bounces up. We will continue to buy dips using our support levels taking 30 to 40 pips. As stated before each of our level structures give 20 to 40 pip bounces, which is enough for a nice entry and exit. If you back test the levels we shared every week for the past 24 months, you can see how effectively they were used to trade with or against short/mid term swings and trends. BULLISH TARGET 2663 - DONE EMA5 CROSS AND LOCK ABOVE 2663 WILL OPEN THE FOLLOWING BULLISH TARGET 2672 BEARISH TARGETS 2654 - DONE EMA5 CROSS AND LOCK BELOW 2654 WILL OPEN THE FOLLOWING BEARISH TARGET BEARISH TARGET 2646 - DONE EMA5 CROSS AND LOCK BELOW 2646 WILL OPEN THE RETRACEMENT RANGE RETRACEMENT RANGE 2638 - 2628 EMA5 CROSS AND LOCK BELOW 2628 WILL OPEN THE SWING RANGE SWING RANGE 2618 - 2608 As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Thank you all for your likes, comments and follows, we really appreciate it! Mr Gold GoldViewFX
OANDA:XAUUSD
by Goldviewfx
14
Muthoot Finance Long Trade on 15m Time Frame: Trade in ProgressA long entry was initiated at 1927.05 on the 9th of October at 10:15 am. The price is nearing Target 1 (1963.50) and remains on track for further movement towards the upper targets. We have now set a trailing stop at 1928.50 to lock in gains and manage risk. Target Points: TP 1: 1963.50 (close to being hit) TP 2: 2022.50 TP 3: 2081.50 TP 4: 2117.95 Trailing Stop: 1928.50 Stop Loss (SL): 1897.55 We'll keep a close eye on this position as it progresses towards the remaining targets.
NSE:MUTHOOTFINLong
by ProfitsNinja
GBPUSD / BETWEEN DEMAND ZONE AND FVG / 4HGBPUSD / 4H TIME FRAME HELLO TRADERS Prices are moving towards a demand zone located between 1.306 and 1.300. In technical analysis, a demand zone represents an area where buyers are likely to step in, potentially pushing prices higher. After hitting the demand zone, the expectation is that prices will rise towards the FVG area between 1.313 and 1.324 , The FVG (Fair Value Gap) area is often a price gap left on the chart that may get filled in the future, typically considered a point of interest where the price might reverse or stall. Once the price hits the FVG area, the text anticipates that it will fall back to the demand zone (1.306–1.300) and potentially drop below this zone to the target demand zone between 1.286 and 1.281. This suggests the overall sentiment is bearish in the longer term after a short-term rise. • Initial Demand Zone: 1.306–1.300 (current support). • FVG Area: 1.313–1.324 (temporary resistance). • Target Demand Zone: 1.286–1.281 (final expected support level).
Short
by ArinaKarayi