SupperTrading-FX

SupperTrading-FX Updated 

TVC:GOLD The Gold Price has already breached the two short-term key supports around 1,935$ and 1,930$ respectively. However, the 1,928$ round figure and the previous bottom of around 1,925$ prods the XAU/USD bears on an important day. Meanwhile, the previous monthly low of around 1,930$ prods the Gold buyers ahead of the Fibonacci 23.6% on the daily and weekly...

SupperTrading-FX Updated 

TVC:GOLD Gold prices hold lower at weekly lows, filling its wounds after a three-day downtrend near 1935$, as market participants gear up for this week's key event, the Two-Year Hearing. once by Fed Chairman. According to technical indicators in the daily chart, GOLD is making modest gains from intraday lows, with the risk of a sharper decline increasing. The...

SupperTrading-FX Updated 

OANDA:XAUUSD All eyes are now on US Federal Reserve Chairman Jerome Powell's testimony amid heightened hawkish interest rate hike expectations and strong US economic data. The Fed's monetary policy report was released last Friday, so the focus will remain on the Powell hearing. Suggestions of further rate hikes from Powell and his implementation of credit...

SupperTrading-FX Updated 

OANDA:XAUUSD Gold prices hit a weekly low after a three-day downtrend, as investors braced for this week's key event, Fed Chairman Jerome Powell's biennial testimony. According to technical indicators in the daily chart, XAUUSD is making modest gains from intraday lows, with the risk of a sharper decline increasing. Support levels: 1,924.60 1,912.50...

SupperTrading-FX Updated 

Gold prices started the week off with losses extending to a third day in a row, as the US Dollar was finding support from more bets on the upcoming July Fed rate hike. The focus this week will be on the testimony of Fed Chairman Jerome Powell before Congress and the monetary policy decision of the Bank of England (BoE). Powell's words are often published before...

SupperTrading-FX Updated 

TVC:GOLD Gold lacks any solid direction on the day, moving sideways around 1950$ area Gold prices struggled to capitalize on modest intraday gains and traded in a tight range during the first half of the Asian session on Tuesday. GOLD trades around 1,950$, mostly unchanged on the day and well maintained within a familiar trading range held for about a...

SupperTrading-FX Updated 

TVC:GOLD Gold prices saw decent buying around 1948$ during the London session. The precious metal broke through the critical resistance of 1950$ as investors anticipate just one more rate hike from the Fed this year. The US Dollar Index (DXY) has been flat as upside is limited around 102.60 although Fed chair Jerome Powell has confirmed that no rate cuts are...

SupperTrading-FX Updated 

A quiet holiday Monday with US markets closed, and overall nothing to offer for the macro economy. Gold eases slightly as the US Dollar partially corrects its oversold conditions. Although the latest developments have pointed to persistent weakness in the USD, financial markets in general are still optimistic. Gold's daily chart offers a technically neutral...

SupperTrading-FX Updated 

TVC:GOLD Gold prices continued to struggle to gain any meaningful traction on Monday and hovered in a narrow trading range for the second straight day. Gold is currently trading just below 1,965$ during the Asian session, although it has managed to maintain its value above the 100 hourly Simple Moving Average (SMA) so far. The US dollar (USD) edged higher on the...

SupperTrading-FX Updated 

TVC:GOLD Gold Price jostles with a convergence of the 50, 100 and 200 Exponential Moving Averages (EMAs), not to forget the 50% Fibonacci retracement of its June 02-15 downside, near 1,955$-1954$. In doing so, the XAU/USD extends the previous pullback from a fortnight-old descending resistance line, around 1,965$ by the press time, amid bearish MACD...

SupperTrading-FX

The Fed signaled last week that borrowing costs may still need to increase by as much as 50 basis points by the end of the year, which should help the US Dollar gain some positive traction in the next two days. In fact, the DXY Index looks set to build on last Friday's slight bounce from its lowest in more than a month, and act as a headwind for Gold...

SupperTrading-FX

After rallying to $1,970 early in the day, gold prices dipped below $1,960 during the US session on Friday. A modest increase in US Treasury yields, supported the US Dollar (USD) with a modest recovery from the lows in more than a month touched earlier this Friday. The modest strength of the USD could prevent traders from placing bullish bets around the US...

SupperTrading-FX Updated 

Earlier this week the Fed signaled that borrowing costs could still rise as much as 50 basis points by the end of the year. This, coupled with a modest increase in US Treasury yields, helped the US dollar recover slightly from its lowest level in more than a month. However, the cautious mood ahead of US data and Fed Chairman Jerome Powell's testimony next week is...

SupperTrading-FX Updated 

TVC:GOLD The Gold Price retreats towards the 1,950$ key support comprising Fibonacci 61.8% on the weekly play, Fibonacci 23.6% on the daily chart and the 5-DMA. In a case where the GOLD prod the immediate support, like it did Thursday, the bears will jostle with another important downside level, also the last defense of the buyers, around 1,940$ that encompasses...

SupperTrading-FX

After falling to a three-month low, gold prices bounced off stiff resistance at $1,960, as investors looked for more signs of confirmation of the bullish situation amid the upcoming July interest rate hikes. Besides, the sell-off of the US dollar has breathed more life into the Gold market. The situation turned in favor of gold as US Unemployment Claims and...

SupperTrading-FX Updated 

TVC:GOLD Gold price struggles to capitalize on the previous day's goodish rebound from the 1,930$-1,935$ area, or its lowest level since March 17 and oscillates in a narrow trading band through the Asian session on Friday. Gold prices have displayed a breakdown of key support drawn from the March 22 low at 1,935$ on a four-hour scale. The precious metal tested...

SupperTrading-FX Updated 

TVC:GOLD Gold remains on the defensive around 1,935$ as it supports the 100-DMA following a three-day downtrend during the mid-Asian session on Thursday. The actions of the Federal Reserve (Fed) of the United States (US) provided a volatile day and halted the further downtrend of GOLD but failed to repel the bears with a pause. hawk tendency. The daily chart for...

SupperTrading-FX

The price of gold is facing a crucial support test as the US Dollar and yields increase due to a hawkish Federal Reserve position. The XAU/USD price has been affected by the dot plot and Powell's speech, along with disappointing Chinese data. The $1,930 level and US data are key factors for further weakness in the gold price. A bearish breakdown below $1,930...