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Yellowmetal

GOLD Could FALL Before Reaching 1370 level Amid Risk ON AppetiteAs seen, GOLD is trapped in a range bound trading and is currently en route to the crucial resistance level of 1370. However the real question lies whether the GOLD momentum can continue towards this crucial resistance amid a possible and likely RISK ON appetite in the financial markets? Today FED chairman Powell speaks which could cause intense volatility in FX markets, however it seems the market has already priced in of what is to be expected of his speech today. Markets are already in a RISK ON appetite mode amid the resolution of trade war and tariffs being delayed by the president. What is Risk-On Risk-Off Risk-on risk-off is an investment setting in which price behavior responds to and is driven by changes in investor risk tolerance. Risk-on risk-off refers to changes in investment activity in response to global economic patterns. During periods when risk is perceived as low, the risk-on risk-off theory states that investors tend to engage in higher-risk investments; when risk is perceived to be high, investors have the tendency to gravitate toward lower-risk investments. SOURCE : www.investopedia.com With the current trade war already coming close to a resolution, RISK ON currencies in this scenario such as AUD, NZD and the EURO could appreciate whereas RISK OFF assets and currencies such as GOLD, CHF and JPY could depreciate. However keep in mind these safehavens are not evenly correlated. For instance JPY could fall if the market are on FULL RISK ON mode whereas CHF could fall slightly given its assets are backed by GOLD itself. On the Topic of GOLD, the yellow metal is precious and perceived by many as a good future investment given its rising longterm value! Therefore fundamentally it remains to be seen what the chairman of FED has to say today and if the US-SINO trade deal can be agreed soon and what are their terms behind the deal. Technically speaking GOLD is headed towards the crucial 1370 resistance level where it has bounced off on a numerous occasions. Currently the price is confined in a rising steep daily channel as shown on the main chart. Should anything drastic happen such as a trade deal being closed to agreed then GOLD may breakout of the channel and head towards the rising trendline beneath. On the flip side if the trade talks are slow, then we can expect GOLD to respect the channel and head towards the 1370 level. After reaching there it could be a possible scenario that it keeps climbing or reverses to the lows depending on the technical and fundamental picture at that time. It remains to be seen what happens. this is just my analysis and not a trade signal. shall the criteria meet i will post the trade signal in the new thread. cheers
FX_IDC:XAUUSDShort
by FX618Analysis
XAU/USD trades sideways at 1,310.00 14 14During the previous trading session, the yellow metal passed through the support level of the monthly pivot point at 1,308.46. On Tuesday morning, the gold took the support of the monthly PP to break the resistances of the 55-hour and the 100-hour simple moving averages to trade at the 1,312.80 mark. In regards to the near-term future, most likely, the yellow metal will trade sideways between the simple moving averages at the 1,310.00 level. On the other hand, the 200-hour simple moving average could resist the gold to push the rate to the 1,305.00 level.
FX:XAUUSD
by UnknownUnicorn890690
XAU/USD daily overviewDuring Friday’s trading session, the yellow metal passed through the support level of the 55-hour simple moving average to the 1,314.00 mark. On Monday morning, the gold was depreciating against the US Dollar to pass through the support of the 100-hour simple moving average to 1,310.75. Most likely, the yellow metal will bounce off the monthly pivot point at 1,308.46 to stay at the 1,312.00 level during the trading session. However, the gold could pass through the support level of the monthly pivot point at 1,308.46 to trade near the 200-hour simple moving average at the 1,30.50 mark.
FX:XAUUSD
by UnknownUnicorn890690
Uranium futures is crossing MACD and positive CCI - now to find UX1! Where is the good yellow cake deals? Technology will be good for next 5 years here, so look at CCJ today for entry signals and pass along your ideas @Pokethebear (I'm not supposed to be here). When will V (Vanadium) get it's own futures symbol, anyone? What's the metrics here, when was last futures metal added? Why do you like and not comment. Not looking so good: SI1!, HG1! Looking ok: GC1!, and iron ore whatever symbol that is...lol
UShort
by Pokethebear
XAU/USD daily overviewDuring Monday morning hours, the yellow metal broke through the resistance levels of the 55-hour simple moving average and the 23.60% Fibo to trade at 1,293.44. Most likely, the gold will keep surging towards the upper boundary of the descending pattern line at 1,297.00. Besides, the 23.60% Fibo and the 55-hour SMA will try to support the yellow metal during the trading session. Moreover, the yellow metal could be sure that it will not depreciate against the US Dollar due to a lack of any significant fundamental news which could affect the rate during the day!
FX:XAUUSD
by UnknownUnicorn890690
GOLD Facing Descending Trendline resistance. Likely to Break ItOh the crucial 1370 level that is preventing the yellow metal from going any further up. already tested more than 8 times in the monthly this barrier remains a concrete resistance for the yellow metal rally. Now looking at this, GOLD is most likely set to accelerate towards that crucial resistance again, but will it break it this time and rally northwards? it remains to be seen but at the moment we have a strong feeling that the 1370 level will be tested again in the near coming weeks and so why not take the advantage of this available chance first Have a look at the main chart that displays the weekly charts for the yellow metal. The price seems to be stuck in a triangle AGAIN and its facing the descending trendline resistance that needs to be broken so the price can go towards the 1370 level. Fundamentally this has high chance of happening as the pressure on USD mounts and SAFE HAVEN assets such as gold itself are being sought out heavily during this period. Technically however its best to wait until the price convincingly breaks the trendline and slightly retrace it before we opt to go LONG on this pair The above chart snapshot represent the yellow metal daily chart. as it can be seen there is a broadening top forming on daily charts and the price is already at the top ascending trendline suggesting that its ready to pull slightly down before making its move up again. taking all this into consideration we will patiently wait for the technical analysis to be in our favour before executing this trade. shall there be any trade entries i will post in a new thread with all the details. This is just purely analysis for the purpose of future signal.
FX_IDC:XAUUSDLong
by FX618Analysis
Gold targeting $1192 today China cut the RRRXAUUSD Technical Overview: Pivot: 1202.10 Day Trading Range: 1186 - 1204 Key Resistance: 1200.20 - 1202.10 - 1205.45 - 1207.89 Key Support: 1196.28 - 1194.23 - 1191.56 - 1189.88 Technical Indicator: RSI: RSI broke rising trend line and moving downward. Moving Average: SMA 200(1195.55) strong support & SMA 100 (1200.45) strong resistance for Gold today. Technical Trade View: Most Likely Scenario: short positions below 1202.20 with targets at 1194.23 & 1189.88 in extension. Alternative scenario: above 1202.20 look for further upside with 1206.89 & 1208.55 as targets. Overall, Gold futures are under pressure early Monday in reaction to a stronger U.S. Dollar. The dollar is being underpinned by a move by the People’s Bank of China designed to prop up its economy. U.S. banks and the Treasury are closed so the focus will be on geopolitical events today rather than government reports and Treasury yields.Over the week-end, the European Commission told Italy it is concerned at its budget deficit plans for the next three years since they breach what the EU asked the country to do in July, but Rome insisted on Saturday it would “not retreat” from its spending plans. This news is weighing on the Euro which is helping underpin the dollar, leading to renewed pressure on gold prices. However, the major news helping the dollar and pushing gold lower is from China. On Sunday, the People’s Bank of China announced a steep cut in the level of cash that banks must hold as reserves, stepping up moves to lower financing costs and spur growth amid concerns over the economic drag from an escalating trade dispute with the United States. The People's Bank of China (PBOC) said on Sunday that would cut the amount of cash that banks must hold as the reserve to lower financing costs and spur growth in the world's second-biggest economy. The 100 basis point cut in the reserve requirement ratio (RRR) will come into effect from Oct. 15 and will inject a net USD 109.2 billion in cash into the banking system. Interest rate cuts usually put a bid under gold, however, the PBOC's decision to cut rates for the fourth time in 2018 isn't boding well for the safe-haven yellow metal. Thanks YoCryptoManic
FX_IDC:XAUUSDShort
by yoCryptoManic
Yellow Metal Gold Weaken After China Cancels Trade MeetingXAUUSD Technical Overview: Pivot: $1200.20 Key Resistance: $1199.85 - $1204.28 - $1207.47 - $1211.89 Key Support: $1194.33- $1191.56 - $1188.00 - $1186.66 Day Trading Range: $1204 - $1186 Technical Indicator: RSI: The indicator lacks upside momentum, moving below 50 level. Moving Average: SMA 100 ($1199.65), SMA 200 ($1198.45), SMA 50 ($1201.50) strong resistance for Gold today. Technical Trade Idea: Most Likely Scenario: short positions below 1200.20 with targets at 1193.25 & 1189.85 in extension. Alternative scenario: above 1200.20 look for further upside with 1204.55 & 1207.10 as targets. Overall,Driving the price action in gold last week was the U.S. Dollar. For most of the week, gold was underpinned by a weaker U.S. Dollar. On Friday, however, gold managed to give back all of its weekly gains when the dollar rebounded to the upside. Driving the U.S. Dollar’s price action was the investor response to fresh tariffs by the U.S. and China. The trade dispute and the dollar will continue to drive the price action in gold this week. However, this week, the dollar could strengthen and gold could weaken. This is because China called off the trade talks with the United States and said it wouldn’t meet with high level negotiators until after the November mid-term elections. Also contributing to the movement in gold will be the outcome of this week’s two-day Federal Open Market Committee meeting which culminates with the Fed’s interest rate and monetary policy decision on Wednesday, September 26. Although the Fed is widely expected to raise its benchmark interest rate during the meeting, gold traders will be primarily focused on the direction the Fed will chart ahead. Traders essentially want to know how aggressive the Fed will be in increasing rates in the future. Thanks YoCryptoManic
FX_IDC:XAUUSDShort
by yoCryptoManic
Yellow Metal Looking Go Forward But $$ trying to StopXAUSD Technical Overview: Day Trading Range: $1196 - $1216 Pivot: $1201.20 Key Resistance: $1205.25 - $1208.36 - $1212 - $1215.45 Key Support: $1201.20 - $1198.33 - $1194.20 - $1192.10 Technical Indicators: RSI: Indicator shows upside momentum, moving above 50 level. MACD: MacD having bullish trend line. Moving Average: SMA 100 ($1199.89) & SMA 200 ($1199.10) strong support for Gold. Technical Trade Idea: Most Likely Scenario: long positions above $1201.10 with targets at $1208.45 & $1212 in extension. Alternative scenario: below $1201.10 look for further downside with $1198.25 & $1194.50 as targets. Fundamental: Gold move depends on Dollar today 1) The US housing starts rose strong 9.2% m/m in August while building permits decreased -5.7% m/m in the same month. 2) The US initial jobless claims are expected to increase to 210K in the week ending September 14. 3) Philadelphia Fed index is expected to increase to 17.0 in September from 11.9 in August. Thanks YoCryptoManic
OANDA:XAUUSDLong
by yoCryptoManic
European Session Gold keen observing "sensitive US dollar"XAUUSD Technical Overview: Pivot: $1197.10 Day Trading Range: $1194 - $1214 Key Resistance: $1204.45 - $1207.29 - $1212.66 - $1218.89 Key Support: $1197.10 - $1194.22 - $1191.45 - $1189.56 Technical Indicator: RSI: RSI lacks downside momentum, trading above 50 level. Moving Average: SMA200($1198.94) & SMA100($1200.48) strong support for xauusd today. Technical Trade Idea: Most Likely Scenario: long positions above 1197.10 with targets at 1205.50 & 1207.56 in extension. Alternative scenario: below 1197.10 look for further downside with 1194.50 & 1189.45 as targets. Overall, Gold remains in a sideways consolidation between 1214 and 1182 but is making the case for a break higher according to the bullish symmetrical triangle. For bulls to get back control, whereby the market is heavily short of gold and to reconsider its positioning, (net speculative short positions, or bets an asset’s price will fall, in gold, are up 275% year to date), then they need to get and hold above the 50-D SMA at 1211 first, then 1214 which is resistance and then the 200-W SMA at 1233 will need to be challenged. A retry of the downside now should target 1146/20 monthly levels. Fundamentally, the intensifying U.S.-China trade dispute is the driver ahead of next week's FOMC meeting. However, we have only seen modest moves in the greenback so far and markets, in fact, took the trade headlines in their stride. Even with President Donald Trump announcing $200 billion tariffs against China on Monday that provoked an expected and swift retaliation from the nation, fear has yet to really show up in the market and the US benchmarks were higher with the DJIA making another all-time record high. Thanks YoCryptoManic
FX_IDC:XAUUSDShort
by yoCryptoManic
European Seeion Yellow Metal Upside Bias XAUUSD Technical Overview: Pivot: $1200.20 Day Trading Range: $1196 - $1214 Key Resistance: $1208.45 - $1212.89 - $1215.55 Key Support: $1204 - $1200.20 - $1196.28 Technical Indicator: MACD: MacD is loosing bullish bias. Moving Avg: SMA100 ($1201.03) & SMA200 ($1199.63) strong support for the day. Technical Most Likely Scenario: long positions above 1200.00 with targets at 1208.25 & 1212.50 in extension. Technical Alternative scenario: below 1200.00 look for further downside with 1196.00 & 1192.50 as targets. Fundamental: Gold markets have rallied significantly during the trading session on Thursday but hit a brick wall of resistance above the $1215 level, and I think that there are a couple of moving pieces right now that are throwing the markets around. The US economy printed a lower than anticipated CPI number, and that sent the greenback lower, and by extension sent the Gold markets higher. However, at the same time there is comments coming out of the European Union that further stimulus may be needed by the central bank, which is positive for the US dollar as the EUR/USD pair essentially drives the majority of US dollar flows. Thanks YoCryptoManic
FX_IDC:XAUUSDLong
by yoCryptoManic
2
European Session XAUUSD fear from $XAUUSD Technical Overview: Pivot: $1197.20 Day Trading Range: $1200 - $1186 Key Resistance: $1196.44 - $1200.00 - $1205.89 Key Support: $1193.35 - $1189.56 - $1186.78 Technical Indicators: Moving Avg: SMA100 ($1198.33) & SMA200($1200.12) strong resistance for the day. MACD: MacD is having low buyer volume and try to get seller volume soon. Most Likely Scenario: short positions below 1197.25 with targets at 1192.00 & 1187.50 in extension. Alternative scenario: above 1197.25 look for further upside with 1200.00 & 1202.00 as targets. Fundamental: Yellow Metal continue to be held hostage to the US dollar which can’t seem to get its direction Set. This has a lot to do with emerging markets and of course the global trade issues, and as a result the gaining US dollar continues to weigh upon the Gold markets overall. If that’s going to be the case, I think that the market will probably continue to offer selling opportunities on rallies, and that’s probably how you should play this market. Thanks YoCryptoManic
FX_IDC:XAUUSDShort
by yoCryptoManic
XAUUSD "Bart" Trading MaintainingXAUUSD Technical Overview: Day Trading Range: $1186 - $1208 Pivot: 1196.75 Key Support: $1194.45 - $1188.88 - $1184.50 Key Resistance: $1198.25 - $1203.88 - $1208.89 Technical Indicators: MACD: MacD is having low selling volume. RSI: RSI is still below 50 level. Moving Avg: SMA100($1197.68) & SMA200 ($1203.13) strong resistance for yellow metal.. Most Likely Scenario: short positions below 1196.75 with targets at 1191.25 & 1189.50 in extension. Alternative scenario: above 1196.75 look for further upside with 1198.75 & 1202.00 as targets. Fundamental: Gold markets of course are very sensitive to the fate of the US dollar, which is getting sold off during trading on Monday as it has been stated by the EU official we may be within two months of the Brexit negotiated deal. If that’s the case, it would be very good for the Euro, and even better for the British pound. In other words, it should lead to more US dollar selling. However, we have the concern over emerging markets, which has kept the dollar elevated. All of this noise is contributing to a very choppy and difficult gold market. Thanks YoCrypotoManic
FX_IDC:XAUUSD
by yoCryptoManic
Yellow Metal Struggling After US Job DataXAUUSD Pivot: 1198.00 Day Trading Range : $1186.45 - $ 1198.89 Key Resistance: $1196.45 - $1198.89 - $1204.00 Key Support: $1189.56 - $1186.45 - $1182.27 Technical Indicator: Moving Avg: SMA1100($1196.60) & SMA200($1204.16) both are strong resistance for yellow metal for the day. MACD: MacD having negative volume for Gold. Most Likely Scenario: short positions below 1198.00 with targets at 1193.25 & 1190.00 in extension. Alternative scenario: above 1198.00 look for further upside with 1203.00 & 1207.00 as targets. Fundamental: Gold futures closed lower last week with the selling pressure attributed to safe-haven buying of the U.S. Dollar and a jump in Treasury yields fueled by stronger-than-expected U.S. Non-Farm Payrolls data. The selling could have been worse, however. Bullish speculators seem to believe that the Fed is moving closer to neutrality, which means the dollar is not likely to strengthen very much. Additionally, safe haven buyers are also taking positions in the Japanese Yen and Swiss Franc. If you trade the relationship between gold and the Dollar Index and your bullish gold, all you’re hoping for is a rally in the Euro. Thanks YoCryptoManic
FX_IDC:XAUUSDShort
by yoCryptoManic
Europeand Session Yellow Metal Bullish Flag ?XAUUSD Technical Overview: Day Trading Range: $1186 - $1208 Pivot: 1195.00 Key Resistance: $1204.45 - $1212.00 - $1218.85 Key Support: $1195.45 - $1188.45 - $1182.00 Technical Trading Idea: Most Likely Scenario: long positions above 1195.00 with targets at 1201.00 & 1204.00 in extension. Alternative scenario: below 1195.00 look for further downside with 1193.00 & 1189.50 as targets. Technical Indicator: MACD: MacD advocates for further upside. Moving Avg: SMA100 ($1194.63) strong support $ SMA200 ($1205.79) strong resistance for the day. Fundamentals: Gold markets rally during the trading session on Wednesday as it was reported that the UK and Germany were possibly coming together a bit on the Brexit negotiations, and this of course in the EUR/USD pair in the GBP/USD pair higher. In other words, drove down the value of the US dollar which of course is good for gold overall. With that being the case, the market looks very likely to test the $1205 level. If we can get above that level, it could free the market to go to the $1210 level next. In the meantime though, I would expect a lot of volatility, and just as much selling pressure as buying, as the markets are very erratic in general. I would trade this market in five dollar ranges, going back and forth to keep your P&L safe. If we do break down below the $1200 level, I think somewhere near the 1196 level there should be some buying support. Today’s market hours will see release of ISM Non-Manufacturing PMI, Crude Oil Inventory and ADP Non-Farm employment change data and a hawkish outcome in same could help USD gain upper hand against the shared currency. Thanks YoCryptoManic
FX_IDC:XAUUSDLong
by yoCryptoManic
Perfect time to buy GOLD!As per my analysis back in Dec 2016, Gold was hovering at strong support that dates back all the way to 2006. It has again reached that very same support and there's a high probability of an uptrend from here onwards towards a target of 1350 for now. RSI was not as heavily oversold in Dec 2016 as it is now. Please refer to my previous chart: Please ensure to use your analysis further and perform risk assessment accordingly. However I believe strong uptrend is around the corner! Good luck and stay safe!
OANDA:XAUUSDLong
by faiz16
5