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Impact of core PCE on the XAUUSD projectMeanwhile, in phrases of today`s buying and selling session, we've an essential facts piece coming up, the device may be the May Core PCE Price Index. Expect the index to upward thrust 0.1 % need to be as compared to ultimate month so ultimate month's growth become 0.2%. On a 12 months-on-12 months basis, the index is anticipated to are available at +2.6% in May, down from +2.8% 12 months-on-12 months in April. If real facts is weaker , then that might gain bonds to fall, which could assist enhance the attraction of low- and zero-yielding property like gold. On the each day timeframe, it could be visible that gold has now reached capacity guide in the $2,385 to $2,four hundred region. The preceding resistance degree meets the 21-day exponential shifting common here. The 21-day EMA regularly offers precise guide at some stage in sturdy trends. Let's see if this occurs again, or if we fall a bit under this degree this time. The bullish fashion line when you consider that February is round the $2365 region, that's the subsequent key guide if the $2385-2400 region is broken.
OANDA:XAUUSDShort
by Chart_MasterPro
1
Gold prices are under pressure due to the firmness of the USDTechnical Outlook: In last month's Weekly Gold Price Forecast, we noted that XAU/USD has "consolidated just above the 75% parallel over the past month... For now, the immediate focus is on breaking 2300-2333 range break - losses should be limited to the median so that October's uptrend remains viable with a close above 2431 needed to mark a continuation of the uptrend." The consolidation pattern broke higher the following week with gold prices soaring more than 8.6% from June lows. Weekly support lies at the target monthly open/highest weekly close for May (HWC) at 2326/33 and is backed by a more significant technical hold at 2278/93 - one area defined by the 23.6% retracement of the broader 2022 advance and the 38.2% Fibonacci retracement of the 2024 annual range. A broken/closed window below this pivot zone would is needed to find a bullish market correction block rather than a return to the median line (currently ~2200). The key resistance level remains at the record closing high/April High at 2415/31 and a weekly break/close above the upper latitude line (blue) would be needed to mark the continue the uptrend and complete the next big move in price. The next targets point to a 1.618% extension of the October bullish period at 2516 and a 1.618% extension of the 2022 bullish period at 2565.
OANDA:XAUUSDShort
by Chart_MasterPro
XAUUSD : Gold returns to create upward momentumWorld gold prices tend to recover after falling in the previous session, losing the mark of 2,400 USD/ounce right after Joe Biden announced he would not run for the next US presidential election. Previously, analysts predicted that after a sharp decline from a peak of 2,482 USD/ounce, gold could witness another sharp decline at any time, when the overbought volume is dominating, especially in if it falls below the psychological mark of 2,400 USD/ounce. Gold can only stabilize or reverse the situation, when upcoming economic data will benefit this precious metal. In particular, the US June CPI - announced this weekend is expected to continue to decrease, which supports gold prices.
OANDA:XAUUSD
by SantaTradeGold
EURUSD analysis new weekFundamental analysis Broad market hopes for a faster pace of interest rate cuts from the US Federal Reserve (Fed) peaked on Friday despite producer price index (PPI) wholesale inflation. of the United States increased significantly. The Fiber index extended its third straight weekly gain as investors' risk appetite was kept at a ceiling. US Retail Sales figures will be released next Tuesday and Euro traders will have to wait for the European Central Bank's (ECB) latest interest rate call next week, which is expected ​takes place early next Thursday. The ECB recently delivered a quarter-point rate cut in early June, but further cuts appear unlikely and markets are generally forecast to cautiously leave rates unchanged in July. Technical analysis EUR/USD notched a third straight weekly gain, closing Friday slightly above 1.0900. The pair is up 2.3% from its late-June lows and the day's price action is preparing for a clash with the next technical resistance around 1,097. Beyond this peak, EURUSD will continue to move towards the previous year's high at 1,112. In the pullback the direct support level is at the point where investors fought a lot before choosing the winning BUY side at the 1.082 price zone, which is the same zone supported by the two EMAs. In a trend reversal next week's low could reach around 1,068. Support: 1,082-1,068 Resistance: 1,097-1,112 SELL EURUSD zone 1.082-1.084 Stoploss 1.085 SELL EURUSD zone 1.112-1.114 Stoploss 1.115 BUY EURUSD zone 1.082-1.080 Stoploss 1.079 BUY EURUSD zone 1.068-1.066 Stoploss 1.065
by TVS-Trader
4
Gold will soon hit the 2500 markFundamental analysis Gold prices edged up slightly above $2,470 a troy ounce on Thursday, remaining near record highs amid growing optimism that the Federal Reserve (Fed) will cut interest rates in September. Low Interest Rates makes non-yielding assets like Gold more attractive to investors. Federal Reserve officials have expressed growing confidence that the pace of price increases is now more in line with policymakers' goals. Traders will likely keep an eye on weekly US Initial Jobless Claims and the Philly Fed Manufacturing Index on Thursday, along with a speech by the Fed's Lorie Logan. Technical analysis However, the 14-day Relative Strength Index (RSI) is positioned slightly below the 70 level, suggesting confirmation of the bullish trend but also overbought conditions for the asset. A correction can be expected in the short term. . A breakout above this 2470 level could see the pair test the old peak of 2484 and a gradual move towards the psychological level of 2500 On the downside, the Exponential Moving Average (EMA 34) on the h4 timeframe is forming two strong support levels at 2,440 which could act as immediate support, followed by the lower boundary of the ascending channel at $2,421. A break below the latter could put downward pressure on the XAU/USD pair to navigate the area around the regression support at $2,290. Support: 2450 - 2442 - 2432 Resistance: 2485 - 2495 - 2500 - 2515 - 2525 BUY zone 2442 - 2440 stoploss 2436 BUY zone 2432 - 2430 stoploss 2426 SELL zone 2485 stoploss 2490 SELL zone 2500 stoploss 2500
OANDA:XAUUSD
by TVS-Trader
The recovery is necessary for investors to buy long-term☘️Fundamental analysis Gold prices extended their decline during the European session on Friday, now near multi-day lows around the $2,420 region. The US Dollar (USD) continued the previous day's solid recovery from a four-month low and became the main factor pulling Gold back more than 1% on the day. Additionally, some profit-taking , especially after the recent price increase has further contributed to the decline, although the decline appears limited. Investors now appear confident that the Federal Reserve will begin lowering borrowing costs in September and have priced in the possibility of more rate cuts later in the year. This puts US Treasury yields on the defensive and will limit the USD. In addition, risk avoidance can support safe gold prices. Furthermore, geopolitical tensions and central bank demands will help limit any meaningful devaluation moves in the non-yielding yellow metal. ☘️Technical analysis From a technical standpoint, any further decline is likely to find good support near the 2315 area ahead of the $2,400 round mark. Next up is a break of horizontal resistance $2,390-2,385, which has now turned into support which, if broken decisively, could prompt some technical selling. On the other hand, the highs during the Asian session, around the $2,445 region, now appear to act as an immediate barrier, above which Gold prices could rise to the $2,469-2,470 region. With the oscillations on the h2 chart remaining firmly in the positive zone, bulls could aim to retest the all-time highs, near the $2,483-2,484 area, and conquer the psychological $2,500 mark. Support: 2417 - 2405 - 2400 - 2391 Resistance: 2480-2465-2453-2443 SELL price range 2480-2482 stoploss 2485 SELL price range 2451 - 2453 stoploss 2456 BUY price range 2293-2291 stoploss 2288 BUY price range 2400 - 2398 stoploss 2395
OANDA:XAUUSD
by TVS-Trader
GOLD analysis week 30Fundamental analysis Throughout the weekend, gold prices fell due to the strength of the US Dollar and profit-taking activities in the market. This week, the gold market ended up in a key price position again, testing key support at the initial price of $2,400/ounce. Earlier, gold prices hit a record high this week on growing expectations that the Federal Reserve will cut interest rates in September. Currently, gold prices are closely aligned with interest rate expectations and gold's climb to record highs also coincides with expectations that the Federal Reserve will begin its easing cycle in September. According to CME Group's FedWatch tool, the market is pricing in a more than 98.1% chance that the Fed will cut interest rates in September, increasing the appeal of non-interest-bearing assets such as Gold. The only risk that could reverse gold's uptrend is a surprise increase in inflation, making investors doubt the possibility of interest rate cuts. However, recent data along with comments from the Fed suggest that the likelihood of inflation suddenly reaching the Fed's 2% target is very low. Investors will have to wait until Friday for information on the June core Personal Consumer Expenditure Price Index (PCE). Last month, the Fed's preferred gauge of inflation showed a 2.6% increase. Besides inflation data, the market will also focus on US GDP data. In terms of central bank activity, the Bank of Canada will announce its monetary policy decision on Wednesday, with economists believing that weaker inflation data will pave the way for the central bank to cut interest rates. capacity. Technical analysis Gold prices showed that after reaching an all-time high last week, gold corrected downward for three consecutive sessions and ended the week at a key support point, the initial price of $2,400. This $2,400 level is not only a base price but also a horizontal support and short-term trendline. While gold continues to sell below its initial price of $2,400, it is at risk of a deeper decline with the next target being the 34 moving average on the daily time frame. However, with a close at $2,400, the technical uptrend has not yet reversed. Meanwhile, the long-term trend of gold is still completely towards the possibility of price increase. As long as gold remains above the 2398 EMA, pullbacks should only be considered corrective moves, profit-taking activities in the market that do not change the main trend. Notable technical levels are listed as follows: Support: 2392 - 2382 - 2371 - 2360 - 2352 Resistance: 2406 - 2420 - 2427 - 2436 - 2450 - 2467
OANDA:XAUUSD
by TVS-Trader
XAUUSD : Gold is recovering after a sharp declineWorld gold prices tend to recover after plunging in the last trading session of last week. While investors are waiting for important reports at the end of the week, experts predict that the gold market may stabilize at the beginning of the week and will witness fluctuations after the inflation report. However, many opinions believe that the June core personal consumption expenditure index report may not create large price fluctuations. Although gold is likely to decline in the short term, some experts say that will not affect the medium-term prospects of this precious metal. Accordingly, optimistic opinions are that the decline will not last long and gold is still strongly supported by interest rate expectations, geopolitical situation along with uncertainties surrounding the elections.
OANDA:XAUUSD
by SantaTradeGold
XAUUSD : Will falling gold create strong momentum in the future?XAU/USD has fallen for two consecutive sessions since hitting a new peak at $2,483, suggesting traders are taking profits after gaining more than 8.0% in the past three weeks. In the medium term, the general trend is still up, but the RSI indicator on the daily chart is turning down, showing that investors are somewhat cautious as the gold price gets closer to the 2,500 USD mark. In the short term, XAU/USD may continue to fall deeply if it does not quickly regain the $2,450 mark. If selling pressure remains overwhelming, gold prices may move towards the July 5 high at $2,392 after breaking through the $2,400 mark and then the $2,350 mark. On the contrary, if XAU/USD successfully surpasses 2,490 USD, conquering the 2,500 USD mark is completely feasible.
OANDA:XAUUSD
by SantaTradeGold
Gold is falling after creating a record for itselfGold prices continued to decline on Thursday, although remaining around the old peak of $2,450. Currently, XAU/USD is trading around 2,444 USD, down more than 1.5% from its peak of 2,483 USD due to the greenback's recovery, supported by rising US government bond yields. Jobs data released by the US Bureau of Labor Statistics (BLS) showed that more people than expected applied for unemployment benefits, signaling a slowing economy. This, along with last week's string of data showing inflation moving toward the 2% target, could prompt a change in stance from Fed policymakers. The number of Americans filing new unemployment claims increased more than expected last week, but according to data released by the Labor Department on Thursday, the labor market did not change significantly. Finally, Fed officials have expressed that the central bank may be "getting closer" to lowering interest rates as inflation and recession risks have become more balanced. Still, the International Monetary Fund (IMF) said on Thursday that the Fed should not rush to cut interest rates until the end of 2024. In the context of extremely increased expectations of interest rate cuts in September, gold prices reached a new all-time high of 2,483 USD, but demand could not maintain the upward momentum as a part of investors moved forward. take profit. This, along with former US President Donald Trump's announcement of imposing at least 60% tariffs on Chinese goods, has boosted the flow of money back to the USD. The DXY index, which tracks the greenback's performance against six other major currencies, rose 0.43% to 104.18. Besides, US government bond yields also increased on many terms. Typically, the 10-year term reached 4.187%, an increase of more than 2.5 bps.
TVC:GOLD
by SantaTradeGold
How much will gold continue to rise?☘️Fundamental analysis Gold prices (XAU/USD) trimmed gains after hitting a fresh record high around $2,482-$2,483 during the Asian session on Wednesday and are now trading near the lower end of their daily range . The pullback lacks any clear fundamental catalysts and is likely to remain cushioned amid dovish Federal Reserve (Fed) expectations. Investors now appear to believe that the US central bank will begin an interest rate cutting cycle in September, which has sent US Treasury yields falling to near multi-month lows. This has not helped the US Dollar (USD) register any meaningful recovery from the more than three-month low it hit earlier this week and will continue to act as a driving force behind Gold prices. yield. Therefore, any subsequent price slippage could still be seen as a buying opportunity. Traders are now looking to US Industrial Production figures for near-term momentum. ☘️Technical analysis: The continuous breakout through the $2,450 supply zone has left gold with no clear resistance area above. Any further upside move will most likely encounter some resistance and stop near the psychological $2,500 mark. On the other hand, any meaningful slide below the $2,450 zone could now be seen as a buying opportunity and the next cap is near the $2,445-2,425 resistance, which has now turned into support. However, a convincing break below the latter could prompt some technical selling and drag Gold prices down to the $2,400 mark. The possibility of 2400 in the current context is unlikely because world economic and political factors are still supporting Gold. Support: 2450 - 2442 - 2426 - 2418 Resistance: 2500 BUY zone 2451 - 2449 stoploss 2445 BUY zone 2442 - 2440 stoploss 2336 SELL zone 2500 Stoploss 2505
OANDA:XAUUSD
by TVS-Trader
TPLP_KSE100_#TPLP__#Trading_#daily_#call_#IdeaThe daily chart shows a strong bullish divergence, However the price making consecutive lower lows and lower closes, with this bullish divergence we are expecting the trend might reverse and Bulls may again step in and shows dominance. The recent price action has formed a complex pullback, and now the price is testing the strong resistance zone 8.89, which is a psychological level. If the price maintain this level, I expect it the script will bounce back from this level and shows some upwards momentum. Potential levels identified on the charts as well. # DYOR (Do your own research as well) Traders, if you liked this idea write in the comments and give your feedback as well thanks
PSX:TPLPLong
by Humza_Mehtab
Gold is looking for new peaks for itselfIn his latest speech, Fed Chairman Jerome Powell once again expressed a dovish stance, but it could go in either direction. As has been pointed out many times, gold appears to be very sensitive, with just the slightest impact being able to push gold prices to new record highs in any given week. Robert Minter, Chief Strategy Officer of abrdn, said that inflation is only half the reason for this price increase, the other half is the weakness of the economy. "There is a basis to cut interest rates in September. If you look at the current high level of consumer debt, even a little pressure on the labor market can cause serious problems for the economy. I don't think we're going to see a recession, but it all depends on the Fed. They're a little late, but it's not too late to do something." Despite supposedly positive economic data, economic optimism seems increasingly foolish. We supposedly avoided a Volcker recession, but have we really? Or is the media downplaying how bad the real situation is? Could a devastating recession begin after the Fed starts lowering interest rates? That's often what happens, as Ryan McMaken warns us - the reason "soft landings" are so elusive is simply because they're impossible, "But there are two problems with the "soft landing" story: The first is that the Fed has never done this in the past 45 years. Normally, the Fed denies a recession until it happens. Then, the Fed reduces Interest rates on unemployment have begun to rise." The market has high expectations that the Fed will reduce interest rates. The CME FedWatch tool shows an over 90% probability of this happening. According to expert Carsten Fritsch, the market is predicting that the Fed will reduce interest rates in September and may reduce it again before the end of the year. Based on these, Fritsch thinks gold has all the elements to test and could surpass record highs this week. And all of this is still in the short term. As we approach the end of the year, gold will exit its weakest quarter and enter the election cycle, a period that is expected to be turbulent even by the standards of the past twenty years. The dynamics driving gold prices are changing, and investors should stay one step ahead. In the latest report, Incrementum AG's Ronald Stoeferle notes that gold investors should pay attention to the changes driving the gold market. (This is not to say that the old factors are disappearing. Inflation and currency depreciation will still ensure gold's appeal, and any discussion of safe investments must include Yellow.)
TVC:GOLD
by SantaTradeGold
XAUUSD : Gold is at its historic peakWorld gold prices continue to climb and are at a historic peak due to the further weakening of the USD. According to the CME FedWatch tool, the market is betting on a 100% chance that the US Federal Reserve will cut interest rates on September 18. Earlier this week, Fed Chairman Jerome Powell said that recently released data "increases confidence" that inflation is falling sustainably toward the Fed's target level. Many Fed policymakers also said they are increasingly optimistic that price inflation is on track and falling toward the 2% target mark.
OANDA:XAUUSD
by SantaTradeGold
XAU increased to a record high everXAU price increased quite strongly to near historical peak after the instability taking place in the world World gold continues to increase and moves towards the historic peak of 2,450 USD/ounce recorded on May 20 after the US announced that total retail sales remained unchanged in June. In May, revised figures showed total retail sales increased 0.3%. In fact, economists forecast that total retail sales decreased by 0.3% in June. Thus, the number announced last month exceeded expectations. However, this is not positive information. The US economy tends to send signals that are no longer as strong as in the first few months of the year. Previously, the US announced that inflation continued to cool down and the labor market tended to deteriorate with the unemployment rate increasing.
OANDA:XAUUSD
by NicoTradingMaster
GOLD : Gold is increasing fearfullyIn an interview with Kitco News, Robert Minter, Chief Investment Strategist at abrdn, said that Fed Chairman Jerome Powell's testimony before Congress last week appears to be the turning point the market has been waiting for. long time ago. During a two-day hearing on Capitol Hill, Fed Chairman Jerome Powell told Congress that risks to the economy now hang in the balance. "Rising inflation is not the only risk we face," Mr. Powell emphasized in prepared remarks. Immediately after these comments, gold prices held the $2,400 support level and even surpassed the peak of the two-month accumulation period. The August gold futures contract set a new record at a price of 2,470.20 USD/oz. This breakthrough took place in the context that the market was almost completely confident that the Fed would reduce interest rates in September. Mr. Robert Minter, Director of Investment Strategy at abrdn, said he was not surprised by Powell and the Fed shifting their focus away from inflation. He noted that rising consumer debt in a high interest rate environment could pose significant risks to the economy.
TVC:GOLD
by SantaTradeGold