DNA_TradingFX

DNA_TradingFX Updated 

Gold is facing difficulty in finding a clear direction as the market remains indecisive due to conflicting signals regarding US debt extension talks and the US Federal Reserve. Currently, the market is struggling around the key short-term support line near $1,955, and the XAU/USD daily chart suggests a bearish extension. The risk is also leaning towards the...

DNA_TradingFX Updated 

TVC:GOLD Gold price (XAU/USD) changed its position below 1965$ during the Asian session. The precious metal is looking to fall more as the US Dollar Index (DXY) is looking to refresh its 10-week high to 104.00 coming. I expect it to return to the old high of this day last month at 1972$ and give us a nice selling point. And when it is in a downtrend, it will...

DNA_TradingFX Updated 

TVC:GOLD Gold prices (XAU/USD) remain at an intraday low near 1,960$ as it falls for the second day in a row while reversing Friday's corrective rally early Tuesday in Europe. In doing so, the precious metal bears the weight of a firmer US Dollar ahead of the first readings of the Purchasing Managers' Index (PMI) for May from leading economies including the...

DNA_TradingFX Updated 

Gold prices have been trading in a narrow range of $1,950-1,980 for almost a week. This comes after the prices dropped below $2,000 level due to the uncertainty around the US default. Copper prices have hit a six-month low due to weakening demand and global manufacturing activity. The metals market has been under pressure as the US dollar has strengthened, with...

DNA_TradingFX Updated 

Gold prices have been trading in a narrow range of $1,950-1,980 for almost a week. This comes after the prices dropped below $2,000 level due to the uncertainty around the US default. C opper prices have hit a six-month low due to weakening demand and global manufacturing activity. The metals market has been under pressure as the US dollar has strengthened, with...

DNA_TradingFX

Gold prices struggled to capitalize on its modest intraday gains and attracted some selling near the $1980 region during the early European session on Wednesday. Today, I still expect Gold to break out of the 1978$ price zone and move further to the 1985 and 1995 short term targets. If everything goes as expected, Gold has almost completed wave 4 Elliott and wave...

DNA_TradingFX Updated 

Risk sentiment remained subdued ahead of the critical debt-ceiling meeting between US President Joe Biden and House Speaker Kevin McCarthy on Monday. The safe-haven demand for the US Dollar increased after the weekend phone call between the two leaders ended without any conclusion, causing gold prices to slip at the beginning of the week. Additionally, hawkish...

DNA_TradingFX Updated 

TVC:GOLD Gold price (XAU/USD) failed to defend the immediate support at 1975$ during the Asian session. The precious metal fell sharply as Federal Reserve (Fed) policymakers were confident the central bank would raise interest rates more in its fight against persistent US inflation. Gold prices are expected to plummet after breaking below the demand zone placed...

DNA_TradingFX Updated 

The US debt ceiling issue seems to be improving as President Joe Bidden and House Speaker Kevin McCarthy have both confirmed that there will be no default. However, the markets are waiting for more clarity as there has been little response so far. The US Dollar has been gaining momentum and may affect the price of precious metals. On the other hand, if XAU/USD...

DNA_TradingFX Updated 

Gold prices remain stable below $2,000 as US lawmakers continue talks on raising the debt ceiling. The Federal Reserve's mixed signals on monetary policy have caused a lack of safe-haven demand for gold, resulting in a drop in prices. However, experts predict that Gold will not fluctuate much this week and will try to return to the $2,000 price area. Currently,...

DNA_TradingFX

While always on the look out for signs that the overall demise and falling back into the global pack of the US economy will one day tip the US dollar into an historic re-pricing lower phase, that day may still be some time off. For the moment, and certainly this is already being seen in the price action, the US dollar may only be in the early stages of yet another...

DNA_TradingFX Updated 

Gold prices fell mid-week due to the market's expectation of the FED raising interest rates in the June meeting. However, the Fed eased this concern during the weekend meeting, and gold prices returned to their rally. Though the basic usage growth is declining slowly, the US development is still decreasing month-on-month, causing fear in the market. Despite this,...

DNA_TradingFX

TVC:GOLD Gold prices have rebounded above potential resistance, which has turned support, drawn from mid-month lows at $1,970 on a four-hour scale. The precious metal shows a V-shaped recovery from around 1955 amid the emergence of responsive buyers. Confident sustainability above the 20-period Exponential Moving Average (EMA) at $1,980 will turn the short-term...

DNA_TradingFX

Despite expectations of a fall, there has been a rise in inflation. This is not a "reacceleration of inflation" as some may have put it. While we expect inflation to mostly fall, it will take years, not months, to reach the Fed's target of 2%. This means that the US will have higher rates than other countries, even if inflation in the eurozone is higher. This is...

DNA_TradingFX Updated 

TVC:GOLD Gold prices extended the downside break of the two-month ascending trendline and the 50 DMA as it created support at 1955 including the late-January high. Adding strength to the seller's dominance are the bearish signals from the Moving Average Convergence and Divergence (MACD) indicator. However, the Relative Strength Index (RSI) line, set at 14, is...

DNA_TradingFX

The price of gold is hovering near a seven-week low due to the recent downtrend. The strength of the USD is causing this, as optimism about the United States debt ceiling talks and hawkish Federal Reserve comments are supporting the currency. Additionally, recent challenges to US debt limit extension and a US-Taiwan trade deal are causing the XAU/USD price to...

DNA_TradingFX Updated 

OANDA:EURUSD I expect EUR to consolidate in the 1.0850/1.0950 range. EUR traded between 1.0855 and 1.0910 before closing slightly lower at 1.0865 (-0.010%). The fundamental tone has softened somewhat and EUR is likely to drop lower today, but any decline could be part of a lower range of 1.0839/1.0895. In other words, a clear break below 1.0845 is unlikely. Next...

DNA_TradingFX Updated 

The rise in inflation when a fall was expected is a setback, not a “reacceleration of inflation” as some headlines put it. We continue to expect mostly falling inflation but not to the Fed target of 2%, which will take years, not months. That implies the US having permanently higher rates than elsewhere, even if inflation in the eurozone is higher (8.2% expected...