Dolartl
Gold price today: the precious metal is flatThe current world gold price on Kitco is 1,934.7 USD/ounce, down 10.9 USD/ounce compared to the previous session. Within just two trading sessions, the price has dropped by more than 23 USD/ounce.
The gold market is facing challenges due to inflation, a strong labor market and strong economic activity, supporting the Federal Reserve's aggressive monetary policies.
Daniel Pavillonis, senior market strategist at RJO Futures, explained that the strength of the US dollar is keeping gold prices below $2,000 an ounce.
The US dollar gained strength as the International Monetary Fund (IMF) recently raised its forecast for global economic growth in 2023. The IMF now predicts global gross domestic product (GDP) to increase by 3 %, up from the previous forecast of 2.8%. .
How does the world gold price change today?The global price of gold slightly dropped to $1,936 per ounce and has remained low for the past three weeks. Despite the US credit rating downgrade, the dollar continues to trade at its highest level in the past month, which has contributed to the decline in gold prices.
Additionally, the 10-year US Treasury bond yield reached a nine-month high at 4.1360%. On August 3, the Bank of England raised interest rates by 25 basis points, reaching a 15-year high.
Investors are currently awaiting the release of the US jobs report, which could impact the Federal Reserve's policy stance. Ryan McKay, a commodity strategist at TD Securities, emphasizes the significance of this data, particularly given the recent positive economic indicators in the US, which have influenced market sentiment and the possibility of the Fed maintaining higher interest rates for a longer period.
DXY Dollar New Week Possible Move#DXY Dollar
Time Frame - H1
- We have " LEADING DIAGONAL " and Rejection from the Lower Trend Line #LTL
Time Frame - H4
- " Falling Wedge " Pattern and Rejection from the Lower Trend Line #LTL
- IMPULSE CORRECTION IMPULSE , completed the corrective waves " ABC " will Follow Impulsive Waves again
Time Frame - Daily
- We have " BULLISH CHANNEL "
- Following Corrective wave Pattern and can Follow some Bearish Moves till the Lower Trend Line #LTL
DXY Dollar Next Possible Move#DXY Dollar
- According to the Long Time Frame #LTF we have BEARISH CHANNEL and Rejected from the Lower Trend Line #LTL
- Buying Divergence in #RSI
- We have IMPULSE CORRECTION IMPULSE - Completed the Correction " ABC " and Again Following IMPULSIVE WAVE
- RISING WEDGE in Short Time Frame #STF
DXY New Week Possible Move#DXY - DOLLAR
FALLING WEDGE Pattern in Long Time Frame #LTF and Rejection from the Lower Trend Line #LTL
Impulse Correction Impulse Completed the " ABC " Corrective Wave will Again Follow Impulsive Wave ( Bullish )
Buying Divergence in #RSI
Falling Wedge Pattern also in Short Time Frame #STF and Breakout of the Upper Trend Line #UTL and Completed the Retest
Bullish Moves Expected till the Upper Trend Line #UTL or Fibonacci Level - 61.80%
DXY Dollar Next Possible Move#DXY Dollar
Time Frame - M45
IMPULSE CORRECTION IMPULSE Completed will again Follow IMPULSIVE WAVE ( Bullish )
According to Long Time Frame #LTF - ELLIOT WAVE " 123 " Wave formed will Follow Long to complete " 4 "
In Short Time Frame #STF It has completed ELLIOT TRIPLE COMBO " WXYXZ" Wave will make ELLIOT DOUBLE WAVE " XYZ "
Rejection from the Previous Strong Support Level
Buying Divergence #RSI
DXY Next Possible MoveTechnical Analysis Chart Update
DXY - Dollar
Time Frame - H2
According to the Pattern we have " Symmetrical Triangle " in Long Time Frame and Rejection from the Lower Trend Line #LTL
It is also Following " Impulse Correction Impulse " and Making " C " Corrective wave
We need Rejection from the Upper Trend Line #UTL or Fibonacci Level - 78.60%
USD/TRY We are here interesting pointHey guys, if you guys check my profile from below link,
www.tradingview.com
You guys see I have a lot usdtry analysis and my analysis success rate is 90% on this pair because I live in turkey and I feel every single situation when our turkish lira lose value let me give example.
So right now our president want to lower interest rates but technic analysis say if we close up weekly 16.89 level dollar is begin new rally to upside carefully all this area is so imporant just watch to price actions and we decide what we do stay tune.
DXY Dollar New Week Possible MoveTechnical Analysis Chart Update
DXY Dollar
Time Frame - H4
Long Time Frame #LTF :
BULLISH CHANNEL
HIGHER HIGH , HIGHER LOW
Short Time Frame #STF :
BULLISH CHANNEL - It has Breakout the Lower Trend line and Completed the Retest at Fibonacci Level - 78.60%
Selling Divergence
DXY Dollar Next Week MoveTechnical Analysis Chart Update
DXY - Dollar
Time Frame - H4
Long Time Frame #LTF ( Bullish Channel )
Rejection from the Lower Trend Line #LTL and Reach Current Demand Zone in Short Time Frame #STF
Short Time Frame #STF ( Bearish Channel )
Breakout and Completed the Bullish Impact and Currently at Fibonacci Level - 61.80% if Reject then XAUUSD Buy , If Breaks then XAUUSD Sell
USD / TRY Long Setup (3-7 days)Taking the deteriorating political and economical climate in Turkey into consideration together with strong DXY, first I expect a small pullback for a retest and a strong invalidation for downtrend and beginning of highly anticipated bullish rally. A resultant median of two scenarios is also highly possible. Not financial advice. DYOR & trade responsibly.
USD/TRY PARALEL KANAL TEPE TESTİDXY tepki alımları alsada genel dxy trendi aşağı yönlü. Dolar tl paralel kenar üst sınırlarını test edicek ve kritik bölgede bulunmakta eğer kanal üst sınırlarından tepki yemesi halinde 1w/1mo. sfp oluşturabilir ve kısa-orta dönem düşüş trendi başlatabilir eğer kanalı yukarı yönlü kırması halinde bir başka s/r flip gerçekleşecek ve parabolik gitme şansı var. kanalın içinde kalıp kısa orta vadede kanal alt çizgisine dönüş yapması daha olası.