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GOLDFrom our previous analysis on Friday, we saw that the price had adjusted down to test the support zone at $2,485 as expected, but the price failed to break through $2,485, resulting in a rebound. And this time, if the price fails to break through $2,510, we expect that there is a chance that the price will continue to fall. 🔥Trading futures, forex, CFDs and stocks carries a risk of loss. Please consider carefully whether such trading is suitable for you. >>GooD Luck 😊 ❤️ Like and subscribe to never miss a new idea!
EIGHTCAP:XAUUSDShort
by Serana2324
3
Weekly Trade Planning SessionIn today's session, I will be analyzing the USD/JPY, GBP/USD, CAD/JPY, and EUR/USD pairs. The framework I follow includes: Portfolio selection Currency ranking Multi-timeframe analysis. Below is the portfolio selection for this week: AUD/CAD: Bearish (-5%) AUD/JPY: Bearish (-59%) AUD/USD: Bullish (17%) CAD/JPY: Bearish (-54%) EUR/CAD: Bullish (16%) EUR/JPY: Bearish (-38%) EUR/USD: Bullish (38%) GBP/JPY: Bearish (-17%) GBP/USD: Bullish (59%) USD/CAD: Bearish (-22%) USD/CHF: Bearish (-63%) USD/JPY: Bearish (-76%) Happy Trading!
by Charts247TradingAcademy
EUR/USD Reversal After Strong US Data: Bearish Momentum Ahead?After yesterday's pullback, the EUR/USD pair has formed a rejection candle on the daily chart after touching the 1.1112 mark. The pair's gains against the USD were quickly reversed, as surprisingly strong US ISM Services Purchasing Managers Index (PMI) data for August offered significant support to the US Dollar (USD). The US Dollar Index (DXY), which measures the Greenback’s value against six major currencies, has recovered most of its intraday losses after finding buying interest near the day's low around the 101.00 level. From a technical perspective, we have already closed 50% of our position after the price bounced back from a key supply area. The Commitment of Traders (COT) report shows a high level of retail traders accumulating long positions in EUR/USD, marking the highest accumulation since the last significant price peak in December. This accumulation hints at potential exhaustion of the bullish sentiment among retail traders, which may lead to further bearish pressure. The ISM Services PMI report revealed that activity in the US services sector expanded slightly more than anticipated, with a reading of 51.5, compared to July's 51.4. Economists had projected a modest slowdown to 51.1, but the unexpected uptick in service activity adds another layer of support for the USD. This strong economic performance suggests that the US economy remains resilient, increasing the chances of sustained strength in the USD. Given this scenario, we anticipate a continuation of bearish pressure on the EUR/USD and other currency pairs against the USD. With retail traders heavily positioned long and the fundamentals favoring the USD, the market may continue to see the US Dollar strengthen in the coming days, offering potential opportunities for those seeking to short the EUR/USD or other USD pairs. ✅ Please share your thoughts about EUR/USD in the comments section below and HIT LIKE if you appreciate my analysis. Don't forget to FOLLOW ME; you will help us a lot with this small contribution.
Short
by FOREXN1
3
Bulls are dominating the trading marketA record displaying a weakening U.S. exertions marketplace on Friday may want to assist the Fed decide whether or not to reduce hobby charges through 25 or 50 foundation factors at its subsequent meeting. Lower hobby charges could weaken the greenback however notably growth the enchantment of non-yielding property along with gold. Gold fees have risen extra than 20% this year, hitting a height of $2,531.seventy five an oz in August. Along with expectancies of a Fed charge reduce, gold has been supported through robust retail call for and safe-haven call for because of conflicts withinside the Middle East and Ukraine.
OANDA:XAUUSD
by NicoTradingMaster
XAU stays green in the trading mapA report showing a weakening U.S. labor market on Friday could help the Fed determine whether to cut interest rates by 25 or 50 basis points at its next meeting. Lower interest rates would weaken the dollar but significantly increase the appeal of non-yielding assets such as gold. Gold prices have risen more than 20% this year, hitting a peak of $2,531.75 an ounce in August. Along with expectations of a Fed rate cut, gold has been supported by strong retail demand and safe-haven demand due to conflicts in the Middle East and Ukraine.
TVC:GOLD
by TrategySherpa
NZD/CHF Long and EUR/NZD ShortNZD/CHF Long Minimum entry requirements: • Tap into area of value. • 1H impulse up above area of interest. • If tight 15 min continuation follows, 5 min risk entry within it, or reduced risk entry on the break of it. EUR/NZD Short Minimum entry requirements: • Tap into area of value. • 1H impulse down below area of value. • If tight 15 min continuation follows, 5 min risk entry within it, or reduced risk entry on the break of it. NZD/CHF Long Long Minimum entry requirements: • 1H impulse up above area of interest. • If tight 5 min continuation follows, reduced risk entry on the break of it. • If tight 15 min continuation follows, 5 min risk entry within it, or reduced risk entry on the break of it. AUD/NZD Short Minimum entry requirements: • Tap into area of value. • 1H impulse down below area of value. • If tight 15 min continuation follows, 5 min risk entry within it, or reduced risk entry on the break of it.
by StewySongs
Investors are cautious as summer draws to a close.Gold’s struggles come as the US dollar, which fell to a one-year low last month and entered oversold territory, is seeing a modest shift in momentum. While September has been a tough month for gold in recent years, analysts do not see the bullion’s bullish trend ending. Looking beyond the near-term weakness, they see central bank buying continuing to provide solid support for gold. At the same time, new investor interest will begin to pick up as the Fed begins its long-awaited monetary easing cycle this month.
TVC:GOLD
by NicoTradingMaster
XAU surges after US economic dataGold prices rose 0.8% on Thursday after a report showed U.S. payrolls fell to their lowest level since early 2021 last month. The sharp drop in new jobs suggests a weakening U.S. labor market, which could prompt the Fed to cut interest rates soon to stimulate the economy. Friday's report showing a weakening U.S. labor market could help the Fed determine whether to cut interest rates by 25 or 50 basis points at its next meeting. Lower interest rates would weaken the dollar but significantly increase the appeal of non-yielding assets such as gold.
OANDA:XAUUSD
by NicoTradingMaster
“The Nasdaq Index Extends Losses”In the U.S., the JOLTS job openings decreased by 237,000 in July compared to the previous month, dropping to 7.673 million. This marks the lowest level since January 2021. Following this data, expectations have increased that the Federal Reserve (Fed) could reduce the policy rate by a total of 125 basis points across its three remaining meetings this year. Additionally, the likelihood of a 50 basis point rate cut at the Fed’s September meeting has risen to 45%. The release of U.S. macroeconomic data, which has triggered recession concerns, has led to increased selling pressure on the indices. Technically, the Nasdaq index, which has retreated to the 18,780 level, could experience further selling pressure, potentially reaching the support levels of 18,450 and 17,900. In the event of a potential buying movement, if we see a close above the 18,900 level, the upward trend could extend to the resistance levels of 19,520 and 19,970.
NASDAQ:NDX
by primequotes
Fed enters interest rate cutting cycleGold is taken into consideration a beneficiary whilst the United States Federal Reserve (Fed) enters a cycle of hobby charge cuts, which might also additionally begin from September 17-18. Lower hobby prices will motive the USD to depreciate in opposition to a basket of different predominant currencies. Gold will then boom in price. Many forecasts say that gold will reach $2,600/ounce, or even $2,seven hundred with the aid of using the give up of this 12 months or early 2025. In a latest forecast, Goldman Sachs stated that spot gold fees will reach $2,seven hundred/ounce (VND82.2 million/tael) with the aid of using early 2025. The modern unstable surroundings is stated to be a element to be able to push gold up, despite the fact that this commodity has set new information dozens of instances due to the fact that the start of 2024.
OANDA:XAUUSD
by TrategySherpa
Gold Analysis September 5☘️Fundamental Analysis Gold prices edged up in Asian trade on Thursday. A US jobs report showed on Wednesday that employment fell to a three-and-a-half-year low in July, raising expectations that the Federal Reserve will cut interest rates further in September, which in turn acted as a boost for the non-yielding yellow metal. Moreover, concerns about the health of the US economy dampened investor appetite for riskier assets, further supporting the safe-haven precious metal. However, gold prices lacked strong buying interest as traders appeared reluctant to place strong bullish bets, preferring to wait for key details on the US monthly employment report - commonly known as the Non-Farm Payrolls (NFP) report - due on Friday. Meanwhile, the US economic agenda on Thursday - including the ADP report on private sector employment, the weekly jobless claims and the ISM services PMI - will be looked at for short-term opportunities. However, expectations of the imminent start of the Fed's policy easing cycle could continue to support Gold. ☘️Technical Analysis Gold is moving back in the sideways range of 2490-2505. After an old liquidity sweep to 2472. The Asian session's upside momentum is not strong enough to break the technical level of 2508. When the European session pushes up to 2508 without breaking through, we can set up a SELL signal at this area. The sell trend may extend further than there is still a way to move up to ATH. Today, when the US session enters, pay attention to the resistance zone of 2512-2514 for a SELL strategy. And the push to the low zone this week and next week could create momentum for the FOMC to push gold to a new ATH. Resistance: 2505 - 2509 - 2515 - 2524 - 2535 Support: 2491 - 2485 - 2472 - 2461 - 2454 - 2440 SELL price zone 2513 - 2515 stoploss 2518 BUY price zone 2460 - 2462 stoploss 2456 BUY price zone 2480 - 2478 stoploss 2475Gold Analysis September 5
OANDA:XAUUSD
by TVS-Trader