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💡 XAUUSD: Plunging after unemployment rate and ADP NonfarmGlobal gold prices are holding steady, with spot gold registering a modest increase of 2.3 USD, reaching 2,043.6 USD per ounce. Gold futures, in the latest trading session, settled at 2,050.7 USD per ounce, marking a 1.2 USD uptick from the previous day. After a four-session decline, the world gold market has found stability, as investors await the release of the US non-farm payrolls report on Friday (US time) to gain insights into potential adjustments in the US Federal Reserve's (Fed) interest rates. Analysts suggest that if the data indicates a weakened labor market, it could bolster expectations of a Fed interest rate cut in March. Conversely, a robust job market report could influence the Fed's monetary policy roadmap. Jim Wyckoff, a senior analyst at Kitco Metals, notes that bullish momentum in the gold market requires a catalyst for a price rally. However, a stronger-than-expected jobs report could exert downward pressure on prices and temper market anticipation of a Fed rate cut. Recent data reveals that weekly US unemployment claims fell more than anticipated last week, and private sector employment experienced growth in December, underscoring the resilience of the labor market.
OANDA:XAUUSDShort
by Stone_Haven
💡 GOLD: Forecast January 5Gold's 4-day losing streak could not continue yesterday, after the price rebounded. However, the rising bar D1 yesterday had a narrow amplitude, had a long shadow above and closed below 1/2, thereby showing that the upward pressure was weak. This D1 bar is also located inside the previous D1 bar to create an inside bar model, and has the narrowest amplitude among recent D1 bars, forming a Narrow Range bar. Combo price action inside bar + Narrow Range Bar suggests the possibility that D1 gold is about to have strong fluctuations. The chart structure is sideways with a bullish bias. H1 gold did not continue its downward trend but moved sideways yesterday. The current upswing can create a structure of 02 upswings, which is a complex retracement structure. You can wait for the current uptrend to balance with the previous uptrend and then sell down again.
TVC:GOLDShort
by Stone_Haven
USOIL ForecastTVC:USOIL Crude oil futures rose toward $76 per barrel on Friday, cutting the 5% plunge from the prior session that took prices to their lowest since July. CBOE:OVX ended on $40.43 nearly 7 percent lower than its previous session. Breakthrough 75.63 resistance. Still it is within acceptable deviation range, the short stance is yet too early to be declared over. API crude inventory scheduled next Tuesday, 11/21. The analysts are not expecting for any significant change in the inventory supply. While OPEC and the IEA both expecting supply tightness in the forth quarter, the downtrend rally won't seem to be make a comeback until any significant mood changing event introduces. During last PPI, while the market is forecasting a significant slowdown in overall business performance, the key is whether 2023 will be able to meet the expected average 82.6 mb/d, respectively.
TVC:USOILShort
by Kim_CLSPX
2
💡 XAUUSD: Deep drop after important newsThe recent Palestinian-Israeli conflict and the dovish turn of the Federal Reserve have contributed to a rise in gold prices. The market may have relatively fully priced in short-term factors. Recent Red Sea shipping problems have pushed up global shipping rates and could increase U.S. inflation volatility. In a neutral economic scenario, after the Fed stops raising interest rates and before it starts cutting interest rates, gold could be more volatile than other assets. We could see gold fall further and fall below the 48-hour moving average. However, the MACD double line and histogram bar converge below the zero axis. Once the rate cuts begin, gold's returns will be significantly better than stocks, commodities and other assets within 6 months. You can set BUY LIMIT, stop loss is required.
OANDA:XAUUSDLong
by Stone_Haven
1
💡 XAUUSD: Difficult startThe global gold market faces challenges as it heads into 2024, influenced by the robust recovery of the USD. Despite the precious metal experiencing a decline, its losses were mitigated by the anticipation of a potential loosening of monetary policy by the US Federal Reserve (Fed) and concerns about escalating tensions in the Red Sea. This week, market participants eagerly await the release of the minutes from the Fed's last meeting in 2023, scheduled for Thursday. Additionally, Friday's release of December's labor market data is capturing the market's attention. Kelvin Wong, a senior market analyst at OANDA, notes that traders will closely analyze the minutes from the Fed's final policy meeting of the previous year to gain insights into the central bank's stance on interest rates. During the recent meeting, Fed officials adopted a more dovish tone and kept the possibility of interest rate cuts open for the upcoming year.
OANDA:XAUUSDShort
by Stone_Haven
3
Euro, after long correction, can continue to rise in channelHello traders, I want share with you my opinion about Euro. By observing the chart, we can see that the price some days ago price traded near the 1.0535 support level, which coincided with the buyer zone, after which it rebounded and entered to upward channel. In the channel, the Euro made an upward impulse from the support line and rose to the current support level, which coincided with the seller zone and even later broke it and reached the resistance line. But soon, the price rebounded and declined below the 1.0915 level, making a fake breakout, after which the EUR quickly declined to support line of the channel. Then, the price rebounded from this line and repeated movement up to the current support level, and this time, the price finally broke the 1.0915 level and continued to move up. Euro rose to 1.1135 points and then bounced down to the seller zone. At the moment, the price continues to trades in this zone very close to the support level, and possibly, the Euro can rebound from this level and start to rise. For this reason, I set my target at the 1.1100 level in the upward channel. Please share this idea with your friends and click Boost 🚀
Long
by LegionQ8
3
💡 GBPUSD: Forecast January 3GBPUSD continued to fall sharply in the past session, it broke the lower border of the rising price channel and approached the important support zone of 1.26. This is considered the last stop for the buyers because if it is broken, the double top reversal pattern will be confirmed and the bullish structure will also be broken, then it is likely that the price will extend its downward momentum to 1.24. If you still have a buying position, you should consider exiting early or placing SL below this 1.26 level.
Long
by Stone_Haven
2
💡 XAUUSD: Signal for the first day of the yearHAPPY NEW YEAR - 2024 Hope you have a wonderful new year ANALYSIS GOLD TODAY: Gold had its second consecutive day of decline, creating a price bar in the form of a bearish pinbar model, with a long upper shadow and closing close to the bottom, thereby reflecting the above blocking selling force. Gold continues to be blocked around the previous peak. At this time, the price is moving sideways in an overview that is more inclined towards price increases. The downtrend structure is maintained in H1 gold as the price creates a new low. There is currently a rebound and touching the old PPZ again. Observing the price behavior around this PPZ, we can see that the price is being blocked. You can wait for the push back down and then rebound to retest to sell. In case the price is pushed up further, you can wait to sell at the strong PPZ above.
OANDA:XAUUSDShort
by Stone_Haven
HelenP. I Gold can rebound up from support zone to $2090Hi folks today I'm prepared for you XAUUSD analytics. If we look at the chart, we can see how the price a few days ago declined from support 2, which coincided with the support zone to the trend line. After this movement, the price rebounded from this line and made impulse up back to support 2 and soon broke this level. Also, Gold started to trades in a wedge, where it rose to the resistance line, but in a short time made a correction back to support 2. After this movement, the price rebounded from this level and continued to move up to support 1, which coincided with one more support zone. When XAU reached this level, it first made little correction and then rebounded higher than support 1, thereby breaking it. Next, the price rose to the resistance line of the wedge, but a not long time ago it rebounded back to the trend line and also soon broke it, exiting from the wedge too. Now Gold trades near the support zone and I expect that the price can decline to this zone, where it will reach the support level, after which Gold rebound and start to move up. That's why I set my target at the 2090 level. If you like my analytics you may support me with your like/comment ❤️
OANDA:XAUUSDLong
by FirstNameHelen
2
💡 XAUUSD: Break the uptrendBreaching the important 2080 barrier in the first half of the session, however, the buyers could not maintain their buying power, the price fell sharply again and created a railroad candlestick pattern on the daily. Recent price behavior shows the possibility that buyers are exhausted and unable to return inside the up channel, so there may be a downward adjustment in the short term. However, the bearish signal is still not really convincing. Please be careful if you want to sell now.
OANDA:XAUUSDShort
by Stone_Haven
Awaiting Bullish Gartley Pattern after Bearish Shark SetupNZDUSD showcases a compelling combo trading setup - a Bearish Shark Pattern visible on the weekly and daily charts. This combination suggests potential movement in the market. My approach involves waiting patiently for the market to shape a Bullish Gartley Pattern on the 1-hourly chart. This setup offers a more favorable Profit Factor, enhancing the trade's potential. What are your thoughts or trade plans regarding NZDUSD? Share your insights below!
Short
by RaynLim
Bitcoin AnalysisSo many ways you can look at Bitcoin and all say the same thing. My goal is to highlight the different perspectives in the market Crypto. 1. Eaglizer Strat Daily: Price needs to reclaim 8 EMA (white moving average) for upside. 2. Range: Price needs to reclaim the Median level (white dotted line) for more upside. 3. Trendline: Price needs to reclaim the Trendline (yellow) on for upside. In summary we're at an area that will determine if we are going to reclaim and continue higher or go down for a correction.
BINANCE:BTCUSD
by Eaglizer
1