In this insight video, we try to unravel the complex dynamics of the market's response to recent events. As the dollar takes a step back amid speculations of the Federal Reserve's imminent pause in rate hikes, the market's reactions become a mixed bag and we don't want to miss out on this opportunity to stay ahead of the curve!
Economists predict that the Fed will maintain interest rates in the upcoming week and the latest reading of the consumer price index on Tuesday could help shape expectations. While this development is expected to lend some support to gold, its potential gains may be limited due to the likelihood of sustained higher U.S. interest rates throughout the year.
Since mid-May, gold has been trapped within a tight trading range below the influential $2,000 per ounce mark, owing to uncertainties surrounding the Fed's decisions and the overall economic conditions. However, it is believed this might change soon. As economic conditions worsen, the demand for gold as a safe haven could surge, especially as the Fed's rate hike cycle takes a breather, weakening the dollar's support.
In this video, we went through a comprehensive analysis of XAUUSD's bullish and bearish sentiment, as well as accumulation and distribution patterns. Drawing from the examination of past price patterns, market behavior, recurring trends, and crucial support and resistance levels, we had insights into the potential of buyers and sellers in the coming week(s).
It is worth noting that we pinpoint a key zone between 1,960 and 1,965, which has played a significant role throughout Friday's trading session. The market's indecisiveness becomes evident within this range, reflecting participants' anticipation of the upcoming interest rate decision. Monday's reactions within this zone will serve as a valuable indicator for the first half of the new week. Be prepared to seize the opportunities that lie ahead!
Don't miss the opportunity to gain a competitive edge in your Goldspot trading journey this week. Stay informed and subscribe to receive vital updates that will provide you with valuable insights. Stay one step ahead of the competition and maximize your trading potential.
Disclaimer Notice:
Please be aware that margin trading in the foreign exchange market, including commodity trading, CFDs, stocks, and other instruments, carries a high level of risk and may not be suitable for all investors. The content of this speculative material, including all data, is provided by me for educational purposes only and to assist in making independent investment decisions. All information presented here is for reference purposes only, and I do not assume any responsibility for its accuracy.
It is important that you carefully evaluate your investment experience, financial situation, investment objectives, and risk tolerance level. Before making any investment, it is advisable to consult with your independent financial advisor to assess the suitability of your circumstances.
Please note that I cannot guarantee the accuracy of the information provided, and I am not liable for any loss or damage that may directly or indirectly result from the content or the receipt of any instructions or notifications associated with it.
Remember that past performance is not necessarily indicative of future results. Keep this in mind while considering any investment opportunities.
Economists predict that the Fed will maintain interest rates in the upcoming week and the latest reading of the consumer price index on Tuesday could help shape expectations. While this development is expected to lend some support to gold, its potential gains may be limited due to the likelihood of sustained higher U.S. interest rates throughout the year.
Since mid-May, gold has been trapped within a tight trading range below the influential $2,000 per ounce mark, owing to uncertainties surrounding the Fed's decisions and the overall economic conditions. However, it is believed this might change soon. As economic conditions worsen, the demand for gold as a safe haven could surge, especially as the Fed's rate hike cycle takes a breather, weakening the dollar's support.
In this video, we went through a comprehensive analysis of XAUUSD's bullish and bearish sentiment, as well as accumulation and distribution patterns. Drawing from the examination of past price patterns, market behavior, recurring trends, and crucial support and resistance levels, we had insights into the potential of buyers and sellers in the coming week(s).
It is worth noting that we pinpoint a key zone between 1,960 and 1,965, which has played a significant role throughout Friday's trading session. The market's indecisiveness becomes evident within this range, reflecting participants' anticipation of the upcoming interest rate decision. Monday's reactions within this zone will serve as a valuable indicator for the first half of the new week. Be prepared to seize the opportunities that lie ahead!
Don't miss the opportunity to gain a competitive edge in your Goldspot trading journey this week. Stay informed and subscribe to receive vital updates that will provide you with valuable insights. Stay one step ahead of the competition and maximize your trading potential.
Disclaimer Notice:
Please be aware that margin trading in the foreign exchange market, including commodity trading, CFDs, stocks, and other instruments, carries a high level of risk and may not be suitable for all investors. The content of this speculative material, including all data, is provided by me for educational purposes only and to assist in making independent investment decisions. All information presented here is for reference purposes only, and I do not assume any responsibility for its accuracy.
It is important that you carefully evaluate your investment experience, financial situation, investment objectives, and risk tolerance level. Before making any investment, it is advisable to consult with your independent financial advisor to assess the suitability of your circumstances.
Please note that I cannot guarantee the accuracy of the information provided, and I am not liable for any loss or damage that may directly or indirectly result from the content or the receipt of any instructions or notifications associated with it.
Remember that past performance is not necessarily indicative of future results. Keep this in mind while considering any investment opportunities.
Note
Currently, the price movement is confined within a range, creating a flat channel. As a result, we will exercise patience and await a signal, such as a breakout or a breakdown of the range, to make our next move.Good Morning
Trade active
The buy position has been activated as the price action successfully breaks above the key level at 1,960. As mentioned in our morning live session, it is now advisable to secure the buy position and observe how the price action responds above the recently breached resistance zone.Trade active
The buy position remains active, currently showing a profit of 44 pips, and we continue to prioritize securing our positions.Note
Following the price action hitting the break-even point and closing the buy position, the sell-stop order has now been triggered at the breakdown of the 1,960 level. It is advisable to secure the sell position as we remain watchful for further opportunities.Trade active
After sell position closed with a modest profit, the price action broke the resistance line of the week and the 1,960 level, prompting the trigger of a buy position. We secure our current position and remain alert for further trading prospects.Good Morning
Trade closed: stop reached
The trades were closed in loss due to the high level of volatility in the market. We need to exercise patience and observe the candle's closure at this point, allowing the price movement to stabilize in a clear direction. Stay tuned for further updates.Note
As the market influx gradually stabilizes, we are reverting back to the status quo indicated on the chart, resetting ourselves for new opportunities.Trade active
The selling position was triggered at the break out of both the 1,960 and 1,954 levels, resulting in a profit of 110 pips at the moment. It is now advisable to safeguard the positions.Trade active
Over 200 pips in profit on two positions; time to secure all sell positionsTrade active
A total of 260 pips in profit on two positions; secure positions now.Good night
Note
After successfully securing over 200 pips profit from our sell position yesterday, we are now observing a resurgence of buying pressure in the market. The price has tested the 1,940 zone, which is recognized for its strong buying power. Market participants are currently focusing on the FOMC meeting as a potential catalyst. To navigate our trading activities today, we will rely on the recently identified ascending trendline as a point of reference. We will delve into this trading setup extensively during our upcoming live session.Note
UPDATE on 30-minutes timeframeTrade active
Fall out form our live session this morning; buy position triggeredTrade closed manually
The break-even level has been reached, bringing us back to the previous state as illustrated on the chart. This opens up potential trading opportunities based on the provided details.Note
UPDATETrade active
Trade active
Time to secure buy positionTrade active
UPDATETrade active
As we near the FOMC meeting, the failure of buyers to surpass the $1,960 level raises concerns about the strength of sellers. This situation could potentially trigger a substantial movement upon a breakout or breakdown of the range between 1,960 and 1,954.70. It is advised to secure all buy positions as we be on standby for trading opportunities.Trade active
FOMC begins! Sell positions triggered (two); secure positionsNote
UPDATEextend TP and secure positions to maximize profit if the market presents us
Note
NOTICEIf you are taken out of any of the existing positions in our portfolio, it is recommended to refrain from opening new positions at this time. Our current strategy involves waiting for the market influx to stabilize, allowing market participants to evaluate the consequences of the unchanged interest rate decision before making any further trading decisions.
Trade active
We currently have approximately 500 pips of profit across four sell positions. Secure these positions as we wait for new trading opportunities.Good Morning
Trade active
As a result of our live session earlier today, we have identified a straightforward setup on the 15-minute timeframe. A gradual reversal structure is currently unfolding on the chart.Trade active
UPDATETrade active
The sell positions closed at breakeven and the buy positions were triggered when the market broke out at the 1,934 and 1,937 levels. It is recommended to secure all current positions while remaining vigilant for additional opportunities.Trade active
Currently, we have approximately 300 pips of profit across three positions. It is advisable to secure all buy positions now while we keep an eye out for further opportunities.Trade active
UPDATEOver 500 pips in profit on 5 positions as we look out for more opportunities
Trade active
We currently have approximately 800 pips of profit across five positions. It is recommended to secure all positions at this point as we observe selling pressure emerging below the 1,960 level.Trade closed: target reached
We have gained more than 900 pips in profit as the price action successfully reached TP target level. Following that, the price action entered a consolidation phase after testing the 1,960 zone, in preparation for the release of the consumer sentiment index later today. We will delve into this extensively in our upcoming live session.Good Morning
Trade active
As the price action hits 1,960, triggering the first sell stop order, selling pressure emerges due to the CPI data release surpassing expectations. It is advisable to safeguard your position.
Trade smart. Trade consciously
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Trade smart. Trade consciously
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.