SupperTrading-FX

SupperTrading-FX Updated 

Traders were careful due to the US debt ceiling expiry and significant US data, causing the US Dollar to weaken = >As a result, Gold saw a rise. Currently, the Gold Price is trading near its multi-day low within a short-term range. The gold bear's re-entry is expected at the key support level of $1,943 while gold buyers can defend their position at around...

SupperTrading-FX Updated 

The price of gold has declined recently and struggled to stay above $1,940. This is because the US Dollar Index is quite strong at the moment. Investors are feeling anxious about the possibility of a US treasury default, which has resulted in a negative market sentiment. The gold price has experienced an imbalance due to a breakdown in the previously formed...

SupperTrading-FX Updated 

TVC:GOLD I expect a bounce and it will return to the zone between 1940$ and 1930$ 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...

SupperTrading-FX Updated 

TVC:GOLD Gold price is forming a Reversal Flag chart pattern on the four-hour scale, which is a trend continuation pattern where a prolonged consolidation will lead to a breakout. Gold price is hovering above the horizontal support drawn from the April 3 low at 1950$. The 20-period exponential moving average (EMA) at 1978$ is preventing Gold from any...

SupperTrading-FX Updated 

Amid concerns of a potential US government default in early June if debt ceiling negotiations fail, investors are avoiding short-term US Treasuries. Gold demand has increased despite some Fed officials remaining hawkish. The Fed is expected to make two more rate hikes in 2023 to curb inflation. While Wall Street predicts a high risk of a US recession, it has been...

SupperTrading-FX Updated 

TVC:GOLD Gold price (XAU/USD) struggles to defend the previous day's corrective bounce from key short-term support line, bid slightly around 1.980$ level early Wednesday. In doing so, the precious metal awaits more clues to cheer the latest pause in the US Dollar's rally to multi-day highs as Federal Open Market Committee Meeting Minutes (FOMC) appears. I...

SupperTrading-FX Updated 

Gold prices traded in a tight range of $1,950 to $1,980 , after falling below $2,000. Incoming US Orders data is expected to show a 1.0% decline, versus a 3.2% gain. Gold price is currently slightly above support established in April at $1,949.83. If the current selling trend continues, the price can move towards stronger support levels at $1945 and $1930 . Gold...

SupperTrading-FX Updated 

OANDA:EURUSD EUR/USD gained traction and headed towards 1.0810 during the European session on Wednesday. Although the German IFO survey showed worsening business sentiment, the improvement in the Expectations Index helped the Euro find demand. On the downside, EUR/USD could extend the recovery and target 1.0835 (50-period SMA) and 1.0865 (38.2% Fibonacci...

SupperTrading-FX Updated 

Gold is currently trading at around $1,975, the sentiment towards precious metals is mixed, but gold is benefiting from a weaker dollar due to stalled debt ceiling negotiations. Despite the recent decline in US Treasury yields, US PMIs remain positive, which should boost the dollar's bull market. Gold is hovering around the confluence support at $1970, which...

SupperTrading-FX

Gold prices remained stable on Wednesday as the market awaited progress in talks on raising the US debt ceiling. Copper prices, on the other hand, hit a six-month low due to a slowdown in global manufacturing activity and demand. Despite losing the key $2,000 level, gold was still able to attract safe-haven buy orders as traders predicted a slowdown in global...

SupperTrading-FX Updated 

Last week, gold prices dropped to a two-month low but have now stabilized as the US dollar's recent surge has paused. The 'big dollar' was supported by treasury yields, which fell 4.35% on Friday and again this week. The 10-year bond is trading above 3.7% after hitting a low of 3.30% a few weeks ago. Gold traders are concerned about the increase in real US...