XAUUSD | GOLDSPOT | New perspective | follow-up details
Updated
We dive deep into the recent movements of Gold (XAUUSD) following the release of the US Nonfarm Payrolls (NFP) data. On Friday, Gold initially surged to the $2,310 zone after the NFP numbers missed markets' expectations, signalling a cooling jobs market. However, bears quickly took control, pushing the price back into a demand zone identified on the chart.
The positive tone to market sentiment, driven by a rally in equity markets, may have contributed to Gold's decline, despite its safe-haven appeal during times of crisis. Additionally, the likelihood of the Federal Reserve cutting interest rates sooner than anticipated could weigh on the US Dollar (USD), as evidenced by sliding US Treasury yields.
Fed Governor Bowman's hawkish remarks, expressing willingness to hike rates if inflation stalls, and the solid US employment report further shaped market expectations. In this video, we analyze these developments and decipher the potential behavior of the XAUUSD market as we head into the new trading week.
XAUUSD Technical Overview:
In this video, we conducted a thorough analysis of the XAUUSD chart, integrating both technical and fundamental perspectives.
Our focus for the upcoming week centres around the $2,285 zone, which holds significant historical importance and is poised to influence next week's trading activity significantly. Sustained bullish momentum above this level could fuel continued buying interest, potentially driving prices to new highs. Conversely, a breach below the $2,285 level, accompanied by ongoing selling pressure, may indicate a resurgence of bearish sentiment.
Join me as we unpack the implications of these factors and explore possible trading opportunities in the Gold market. Don't forget to like, subscribe, and hit the notification bell to stay updated with my latest analysis and insights.
#GoldAnalysis #XAUUSD #NFP #ForexTrading #MarketAnalysis #TradingStrategy
#GoldMarket #SafeHavenAssets 📺🔔💼
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.
The positive tone to market sentiment, driven by a rally in equity markets, may have contributed to Gold's decline, despite its safe-haven appeal during times of crisis. Additionally, the likelihood of the Federal Reserve cutting interest rates sooner than anticipated could weigh on the US Dollar (USD), as evidenced by sliding US Treasury yields.
Fed Governor Bowman's hawkish remarks, expressing willingness to hike rates if inflation stalls, and the solid US employment report further shaped market expectations. In this video, we analyze these developments and decipher the potential behavior of the XAUUSD market as we head into the new trading week.
XAUUSD Technical Overview:
In this video, we conducted a thorough analysis of the XAUUSD chart, integrating both technical and fundamental perspectives.
Our focus for the upcoming week centres around the $2,285 zone, which holds significant historical importance and is poised to influence next week's trading activity significantly. Sustained bullish momentum above this level could fuel continued buying interest, potentially driving prices to new highs. Conversely, a breach below the $2,285 level, accompanied by ongoing selling pressure, may indicate a resurgence of bearish sentiment.
Join me as we unpack the implications of these factors and explore possible trading opportunities in the Gold market. Don't forget to like, subscribe, and hit the notification bell to stay updated with my latest analysis and insights.
#GoldAnalysis #XAUUSD #NFP #ForexTrading #MarketAnalysis #TradingStrategy
#GoldMarket #SafeHavenAssets 📺🔔💼
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.
Trade active
The new week commenced with a strong bullish sentiment as price action broke out of the descending trendline identified in the video. A weaker-than-expected US employment reports have heightened expectations of a rate cut from the US Federal Reserve, consequently exerting downward pressure on the US Dollar. It is worth noting that a lower interest rate environment tends to reduce the opportunity cost of investing in gold, potentially driving up demand and prices for the precious metal.Conversely, the alleviation of geopolitical tensions in the Middle East, particularly concerning the Iran-Israel conflict, coupled with an overall risk-on environment, may dampen demand for safe-haven assets and could limit the upside potential for gold. Market participants will closely monitor speeches from Fed officials Thomas Barkin and John Williams scheduled for today, seeking clues about future monetary policy decisions.
In navigating today's market dynamics, the newly identified structures on the 1-hour timeframe will serve as our guiding framework.
Good Morning
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#XAUUSDA minimum of three buy positions triggered; it is time secure some profit.
Trade closed manually
All buy positions have been closed, yielding a modest profit, as the Gold price remains in negative territory amidst renewed demand for the US Dollar (USD).It's worth noting that the expectation of an easing cycle could potentially bolster the price of gold, as it becomes a more affordable option for foreign buyers. Moreover, ongoing demand from Asian markets continues to provide support for the precious metal in the near term. Additionally, the persistent political tensions in the Middle East may enhance safe-haven flows, benefiting gold's price.
I'll monitor for a reversal set-up around the descending trendline as we assess potential trading opportunities. However, it's important to remain vigilant as a breakdown and subsequent retest could trigger a sell-off.
Good Morning
Note
Over the past 24 hours, market conditions have been choppy, hence no position was taken as our anticipated structural setup for a reversal was not met. However, Gold prices saw an uptick during the Asian session, driven by geopolitical tensions, ongoing central bank purchases, and prevailing uncertainty, potentially fueling a rally in gold.Nevertheless, the hawkish comments from Federal Reserve (Fed) officials have tempered expectations for potential interest rate cuts in 2024, despite April's weaker-than-expected US employment reports. This stance may exert downward pressure on Gold.
Later today, Federal Reserve members Philip Jefferson, Susan Collins, and Lisa Cook are scheduled to deliver speeches. Any hawkish remarks from these policymakers could bolster the US Dollar and weigh on safe-haven assets like gold.
In light of these factors, our chart levels continue to serve as our guide for identifying trading opportunities. Further discussion and analysis will be provided during our upcoming live session this morning.
Good Morning
Note
Over the past 48 hours, we have refrained from taking any positions as the market continues its extended sideways trading activity, indicative of prevailing uncertainty. However, amidst this, there are notable factors influencing market sentiment. The rise in global gold demand, ongoing central bank purchases, and safe-haven flows will likely support the precious metal.Despite these factors, several headwinds loom, including the strength of the US Dollar (USD) and hawkish comments from the US Federal Reserve (Fed), which may limit the upside potential of gold in the near term.
As market participants await fresh catalysts, today's focus is on the US weekly Initial Jobless Claims report and a speech by San Francisco Fed President Mary Daly. These events are expected to provide insights into the economic landscape and may impact market sentiment.
We will closely monitor how market participants anticipate and react to these events using the levels on the chart. Stay tuned for further updates.
Good Morning
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UPDATEBuy position triggered
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#XAUUSDSecond buy position triggered; secure some profit
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#XAUUSDSecure some more profit as price action advances; update for new levels coming up soon.
Trade active
We're currently running in profit of over 800 pips with a minimum of two active buy positions as gold prices continue to climb for the second consecutive day. This surge is fueled by weak US employment data, sparking speculation that the sluggish economy may prompt the Fed to consider rate cuts.Additionally, renewed geopolitical tensions are contributing to a positive market sentiment towards gold. However, it's essential to acknowledge the potential dampening effect of hawkish talks from the US Fed regarding interest rates, coupled with the strengthening US dollar (USD), which could exert downward pressure on gold prices.
Today, markets will closely monitor key events, including the first reading of the US Michigan Consumer Sentiment Index for May and speeches from Fed officials Bowman, Goolsbee, and Barr. Looking ahead, next week's US Consumer Price Index (CPI) report will be a focal point.
Given these dynamics, it's prudent to secure some profit at this juncture. We'll delve deeper into market analysis and explore new opportunities in our upcoming live session this morning. See you there!
Good Morning
Trade active
#XAUUSDNew Structural set-up identified on the 15 Minutes timeframe; Please ensure that all previous buy positions are secured.
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