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Gold is moving sideways after loweringAccording to some analysts, the market is still in a state of tension as investors try to predict the next move of the US Federal Reserve (Fed). Markets are pricing in a 68% chance of the first interest rate cut at the March monetary policy meeting. The stronger USD and uncertainty about the timing of the Fed's interest rate cut negatively impacted gold prices. Meanwhile, the jobs report released at the weekend showed that the labor market was better than forecast. This means the Fed can delay the first interest rate cut. Meanwhile, investors are expecting a cut soon. Walsh Trading's Co-Head of Commercial Hedging Sean Lusk is optimistic about gold, saying the precious metal remains supported by concerns surrounding conflict in the Middle East and seasonal factors. Lusk predicts that during the seasonal growth period from now until Valentine's Day, gold prices will reach 2,175 USD/ounce.
OANDA:XAUUSDShort
by TrategySherpa
World market turns down, trading strategyWorld gold prices are still attractive when the world's second largest economy is still facing difficulties in economic recovery. Data on China's manufacturing PMI index in December decreased from 49.4 points in November to 49 points in December, lower than the forecast level of 49.5 points. This is the third consecutive month that China's manufacturing PMI index has declined. Along with that, on January 5, China's giant asset management group Zhongzhi Enterprise Group, with assets of more than 140 billion USD, filed for bankruptcy because it could not pay its debts. This unit said there is about 66 billion USD in its balance sheet that cannot be paid. Zhongzhi is likened to an underground bank in China, mobilizing capital from households to lend or invest in real estate, stocks, bonds and commodities. It is expected that the amount recovered from the liquidation of this group's assets will be low. Thus, the Chinese economy is still having difficulty solving the problem of inactivity in the real estate and valuable paper investment sectors. Previously, in 2021, investors witnessed Evergrande's debt default. . It is forecasted that Country Garden will have a stronger influence than Evergrande because the number of projects is many times larger. Many people compare Zhongzhi to a "debt bomb" in the financial market. Increased risks in the financial market will cause investors to turn to gold speculation to ensure capital flows. However, the market also witnessed quite positive information from the US economy. Specifically, the new December employment data announced by the US is quite positive with 216,000 new jobs created in the non-agricultural sector, higher than the 173,000 jobs achieved last month and the 170,000 jobs previously forecast. Average hourly income (year/year) increased from 4% in November to 4.1% in December and higher than the 3.9% forecast. The unemployment rate in the US in December remained at 3.7%. ISM's manufacturing PMI index also increased from 46.7 points in November to 47.4 points in December 2023. Although this index is below the 50 expansion level, the increasing trend of this index shows that the US economy is recovering. Positive signals from the US economy and the rising USD put pressure on the gold market, causing world gold prices to decline at the beginning of this morning's session. Experts and investors said , gold prices will trade around the range from 2,000 - 2,050 USD/ounce before the market receives new economic information.
OANDA:XAUUSDLong
by FalCol_TradingMaster
GBPUSD | Bullish outlookGBPUSD is in a big uptrend and has only now seen some big bearish moves at the start of the year. ----- GBPUSD hasn't really made a new low and is still holding the 1.26100 level pretty hard. ----- If we see big bullish moves in the upcoming week. I will be looking for a break of the resistance level and then a retest of the resistance zone and new highs being made. ----- When this happens I will be looking for long positions. ----- Let me know what you think!
Long
by FX_Unlimited
GOLDEN STAR|Important demand areas for entering sales orders.Here we currently have support from which we have seen upward scalp reactions. -One point that we should consider is that the selling pressure is more on gold at the moment. Because of this sales transactions can have a higher winning percentage. -To enter sell orders, we should consider the supply areas around the price of 2068 and the price area of 2074, of course, with proper confirmation. If we want to say the important areas for entering into buying transactions, the price areas of 2048 and 2033 are valid areas for buying transactions.
OANDA:XAUUSDShort
by Golden_Star1994
AUDUSD: My audusd prediction trend todayThe Australian dollar (AUD) faces challenges as it struggles to stem a losing streak on Thursday. The AUD/USD pair is under downward pressure due to risk-taking sentiment and the general bearish session of the commodity complex. Weaker Judo Bank Purchasing Managers' Index (PMI) data added further pressure on the Australian Dollar (AUD). According to the latest Judo Banking Services PMI, Australia's Services sector contracted in December. The index reported a reading of 47.1, missing market expectations that it would remain flat. 47.6. Additionally, the composite PMI dropped to 46.9 from the previous figure of 47.4. This marks the fastest pace of Services contraction since the third quarter of 2021.
Short
by NicoTradingMaster
XAUUSD is moving within the 2017.00 – 2088.00XAUUSD is moving within the 2017.00 – 2088.00 range . XAUUSD has been trading in a bearish trend within the last day. The support level is now at 2017.00. The resistance level is now located at 2088.00 and 2132.00. If gold rebounds with resistance level, open a Sell with the nearest support level. If it broke out confirm buy a buy order. The upcoming news will not affect these orders within this time frame SL ( Set a uniform set of 15$ ) only for your reference and you can set it according with your free margin.
PEPPERSTONE:XAUUSD
by chamitha45
Gold trading strategy today, continues to increase againWorld gold prices decreased slightly with spot gold down 5.3 USD to 2,058.7 USD/ounce. Gold futures last traded at 2,067.6 USD/ounce, down 4.2 USD compared to yesterday morning. The world gold market enters 2024 with a relatively difficult year under pressure from the strong recovery of the USD. However, the decline in this precious metal was limited thanks to expectations that the US Federal Reserve (Fed) would soon loosen monetary policy and concerns that the situation would escalate in the Red Sea. The US Dollar Index rose 0.8% and was on track for its best daily gain since July, making bullion priced in the currency more expensive for overseas buyers. In 2023, gold prices rose 13%, marking the first annual increase since 2020, and are forecast to reach a record high in 2024, as lower interest rates reduce the opportunity cost of Hold gold bars without interest. Experts say that the market started the new year with the belief that the Fed will cut interest rates sooner, which is why gold is supported. According to the CME FedWatch tool, markets are currently pricing in an 86% chance that the Fed will cut interest rates in March.
OANDA:XAUUSDLong
by FalCol_TradingMaster