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Gold is in a downtrend, entry sell todayGold prices in the international market increased sharply amid weak US economic data. Specifically, the purchasing managers index (PMI) in the manufacturing sector decreased from 49.2 points to 48.7 points. This has reinforced market expectations that the US Federal Reserve will cut interest rates by the end of 2024. In response to the above information, financial investors sold off USD, causing the currency to fall to its lowest level in the past 3 weeks. USD Index dropped to 104 points. Gold price today has momentum to go up. On the other hand, US bond yields fell to 4.4%, meaning the value of bonds went down. Accordingly, investors sell bonds and shift capital to precious metals. Today's world gold price increases by tens of USD/ounce is inevitable.
TVC:GOLDShort
by FalCol_TradingMaster
Sideway gold, selling strategy todayWorld gold prices increased with spot gold increasing by 21.5 USD to 2,350.5 USD/ounce. Gold futures last traded at 2.3716 USD/ounce, up 25.6 USD compared to yesterday morning. Gold prices rose at the beginning of the week when the latest report showed that US manufacturing activity slowed for the second consecutive month. Specifically, the purchasing management index in the manufacturing sector decreased to 48.7% in May, compared to 49.2% recorded in April. This figure is weaker than the forecast of the world. expert. Disappointing economic data that raised the possibility that the US Federal Reserve (Fed) will cut interest rates this year pushed the dollar to a three-week low and benchmark US Treasury yields fell. dropped to its lowest level in 2 weeks. According to High Ridge Futures Chief Investment and Alternative Trading Officer David Meger, the positive trend in gold comes from strong expectations that interest rates will be cut at some point later this year. Accordingly, the latest economic data makes investors believe that interest rate cuts will soon be implemented. Late last week, data released showed US inflation stabilizing in April. This has increased bets on an interest rate cut in September. Traders are currently pricing in around 56%. The possibility of cutting interest rates in September, increased sharply compared to before the report.
OANDA:XAUUSDShort
by FalCol_TradingMaster
Falling towards a pullback support, could it bounce from here?EUR/USD is falling towards a support level which is a pullback support that aligns with the 23.6% Fibonacci retracement and could bounce from this level to our take profit. Entry: 1.08932 Why we like it: There is a pullback support level which lines up with the 23.6% Fibonacci retracement. Stop loss: 1.08623 Why we like it: There is a pullback support level which lines up with the 61.8% Fibonacci retracement. Take profit: 1.09421 Why we like it: There is a pullback resistance level. Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
Long
by VantageMarkets
EURUSD → it formed a descending widening wedgehello guys... as you can see OANDA:EURUSD broke the descending channel and now it is on top of the breaking area! FX:EURUSD is forming a descending widening wedge and I put a example of this pattern here! I believe if you wanna get a long position on eurusd, be ready to break the top line of this pattern! ___________________________ ✓✓✓ always do your research. ❒❒❒ If you have any questions, you can write them in the comments below, and I will answer them. ❤︎ ❤︎ ❤︎And please don't forget to support this idea with your likes and comment
Long
by melikatrader94
8
USDCHF tm:1hHello traders. I hope you doing well. These areas are based on my personal strategy and I will share it with you. Open a sell position on the supply area or open a buy position on the demand area. Your entry point, stop loss, and target point are based on money management and the amount of money in your trading account. But I promise you that by trading in the areas of my trading strategy, you will definitely make a profit, because these areas, although they seem simple, are my experience of 8 years of learning and trading. I hope you will achieve maximum continuous profit with me by using supply and demand areas. Good luck traders. Mohammad Goodarzi
by itsbluemorpho
USDJPY tm:1hHello traders. I hope you doing well. These areas are based on my personal strategy and I will share it with you. Open a sell position on the supply area or open a buy position on the demand area. Your entry point, stop loss, and target point are based on money management and the amount of money in your trading account. But I promise you that by trading in the areas of my trading strategy, you will definitely make a profit, because these areas, although they seem simple, are my experience of 8 years of learning and trading. I hope you will achieve maximum continuous profit with me by using supply and demand areas. Good luck traders. Mohammad Goodarzi
by itsbluemorpho
XAGUSD tm:1hHello traders. I hope you doing well. These areas are based on my personal strategy and I will share it with you. Open a sell position on the supply area or open a buy position on the demand area. Your entry point, stop loss, and target point are based on money management and the amount of money in your trading account. But I promise you that by trading in the areas of my trading strategy, you will definitely make a profit, because these areas, although they seem simple, are my experience of 8 years of learning and trading. I hope you will achieve maximum continuous profit with me by using supply and demand areas. Good luck traders. Mohammad Goodarzi
OANDA:XAGUSD
by itsbluemorpho
USDCAD tm:1hHello traders. I hope you doing well. These areas are based on my personal strategy and I will share it with you. Open a sell position on the supply area or open a buy position on the demand area. Your entry point, stop loss, and target point are based on money management and the amount of money in your trading account. But I promise you that by trading in the areas of my trading strategy, you will definitely make a profit, because these areas, although they seem simple, are my experience of 8 years of learning and trading. I hope you will achieve maximum continuous profit with me by using supply and demand areas. Good luck traders. Mohammad Goodarzi
by itsbluemorpho
NZDUSD tm:1hHello traders. I hope you doing well. These areas are based on my personal strategy and I will share it with you. Open a sell position on the supply area or open a buy position on the demand area. Your entry point, stop loss, and target point are based on money management and the amount of money in your trading account. But I promise you that by trading in the areas of my trading strategy, you will definitely make a profit, because these areas, although they seem simple, are my experience of 8 years of learning and trading. I hope you will achieve maximum continuous profit with me by using supply and demand areas. Good luck traders. Mohammad Goodarzi
by itsbluemorpho
THE KOG REPORT THE KOG REPORT In last week's KOG Report, we gave the support levels below, and suggested that if the market opened and those levels held price, we felt an opportunity to long the market would be available into the 2350-55 region and above that 2375, we achieved just short. Due to the ranging price, we stuck with the plan to then look for the short trade from above which also presented itself after we completed going long. It was a decent but frustrating week for traders, however, we completed near all the Excalibur targets, managing to trade it up into our given levels, bar a few pips, and then down again for the end of the week exactly from the level we had given to expect the minor selloff from. We then gave an end of week report with the target level below which was also completed and gave late session traders an opportunity to capture the long on the RIP with a tap and bounce. A fantastic week in Camelot, not only on gold, but the numerous other pairs we trade analyse and apply the algo to. Excalibur, the hot spots and the red-boxes together with KOG's bias of the day working well again. So, what can we expect in the week ahead? We have the order region above 2330-35 with extension of the move into the 2345 region. It’s that 2340 region which is important to look for if we get a move to the upside from opening, price below that level looks weak and we could then see further opportunities to short the market lower into the 2310 and below that 2285-95 region, which is where we feel the RIP will come from for any longs into the immediate levels of resistance. Below we have the 2320-15 price point, which again is a level of importance, a dip into that price point with rejection could again give the opportunity to long back up into that order region above before then resuming the move to the downside. Please note, the above is based on the price staying below the order region resistance, if we break above that level we will update our plans through the week. We have to remember, there is no significant breakout here as yet, we’re still in the range 2320-2365-70 which price has been gathering orders within. We have a lot of news this week as well as NFP on Friday, the market will be very choppy and ranging so please be careful. We always tell our traders, the last few days of the month and the first few days of the month need to be played with caution and your risk management needs to be up to scratch if you’re going to trade these markets. Please do support us by hitting the like button, leaving a comment, and giving us a follow. We’ve been doing this for a long time now providing traders with in-depth free analysis on Gold, so your likes and comments are very much appreciated. As always, trade safe. KOG
FX:XAUUSD
by KnightsofGold
4
Today's trading trend, entry buyLast week, world gold prices fell due to continued pressure from strong economic data and "tough" stances from US Federal Reserve (FED) officials. According to experts, this week's gold price will have many fluctuations when the market receives a lot of important information such as the purchasing management index report in the manufacturing and service sectors, the number of applications for unemployment benefits and May non-farm payrolls. Besides, the Central Banks' decision on interest rates this week will likely cause the market to recalculate the timing of the FED's interest rate easing. Marc Chandler, CEO at Bannockburn Global Forex, said that this week the European Central Bank (ECB) and the Bank of Canada are likely to cut interest rates. "Gold prices seem ready to go higher and the move above 2,372 USD/ounce is an indicator of precious metal prices conquering the 2,400 USD mark again," said Mr. Marc Chandler. Sean Lusk, co-head of commercial hedging at Walsh Trading, said that short-term interest rates may have peaked, putting pressure on the USD and possibly causing gold prices to rise again. According to Kitco News, this week, the majority of experts and retail investors expressed optimism about the short-term prospects of precious metals, with only a few of them keeping a neutral or bearish stance. Specifically, 6 Wall Street experts (equivalent to 60%) think that gold prices will increase higher this week. 2 analysts (20%,) predict the price will decrease and the remaining 2 investors think the precious metal will move sideways in the short term.
TVC:GOLDLong
by FalCol_TradingMaster
Strategy at the beginning of the week, gold increased slightlyWorld gold prices tend to increase with spot gold increasing by 2.3 USD compared to last week's closing level to 2,329 USD/ounce. World gold prices this week are forecast to have a lot of fluctuations when the market receives a lot of important information, including the purchasing management index report in the manufacturing and service sectors, and the number of applications reported. unemployment benefits and non-farm payrolls report for May. In addition, investors will also closely monitor developments and interest rate decisions of the Bank of Canada and the European Central Bank. Central banks' decisions this week may cause the market to recalculate the timing and scale of interest rate easing by the US Federal Reserve (Fed). Recently, in the context of economic instability, persistent inflation combined with geopolitical tensions and rising interest rates, gold prices have had a notable surge. At the end of May, this precious metal broke the record level reached in mid-April exceeding the mark of 2,400 USD/ounce. However, the price of this precious metal has turned down due to strong economic data combined with "hawkish" statements from Fed officials. A recent article on CBSnews gave reasons why investors should buy gold when prices fall. According to the article, June is the right time to buy gold. Accordingly, after conquering the all-time high of 2,439.9 USD/ounce, gold has dropped more than 100 USD. The sharp decline in prices provides favorable opportunities for those who want to buy gold at a relatively lower price. Besides, short-term fluctuations in gold are difficult to predict. Therefore, it is unlikely that current price levels will last as gold prices could recover or even surpass previous record highs within days or weeks. Therefore, the advice is that investors should not miss the opportunity to buy gold at lower prices.
OANDA:XAUUSDLong
by FalCol_TradingMaster
Gold price continues to decrease, strategy to sell todayWorld gold prices remained stable this morning as traders focused on the Personal Consumption Expenditures Price Index (PCE) report, the FED's preferred inflation measure, expected to be released this evening. can provide a more specific view on the timing and extent of interest rate cuts by the FED this year. According to financial and securities market analysis site MarketWatch, inflation will increase by 2.7% over the same period last year. If this forecast is correct, it means that April inflation remained unchanged compared to March, that is, this inflation level is still much higher than the FED's 2% target. A weaker dollar, lower yields and the recent stock market sell-off have provided bullish momentum for gold, said Kitco senior analyst Jim Wyckoff. Regarding the outlook for precious metal prices, experts say that, along with central banks continuously adding gold to their reserves, demand from Chinese investors will continue to increase in the near future. coming will bring solid support for gold.
TVC:GOLDShort
by FalCol_TradingMaster
Today's trading strategy, sell XAUUSDWorld gold prices increased slightly with spot gold increasing by 5.7 USD to 2,342.6 USD/ounce. Gold futures last traded at 2,364.5 USD/ounce, up 27.6 USD compared to yesterday morning. Gold prices reversed to increase after the latest published data showed that economic growth in the US has slowed down from the beginning of the year until now. According to preliminary data on first quarter GDP released by the US Bureau of Economic Analysis on May 30 (US time), the US economy achieved growth of 1.3% in the first 3 months of the year, lower than the previous quarter. The previous forecast was 1.6% and down from 3.4% reported in the fourth quarter of 2023. Both the dollar and Treasury yields fell on expectations the US Federal Reserve (Fed) will cut interest rates this year increased after the report. ActivTrades senior analyst Ricardo Evangelista said that recently, traders' views have increasingly favored the scenario that the Fed will keep interest rates higher for longer, increasing the opportunity cost of holdings of the yellow metal and creating strong price resistance. However, this expert said that gold has benefited from strong safe-haven demand due to fears of geopolitical instability and economic instability, as well as large state purchases. He hopes that these factors will likely continue in the near future.
OANDA:XAUUSDShort
by FalCol_TradingMaster