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XAU rises on Fed policy and geopolitical tensionsGold prices rose above $2,400 ahead of the Fed's policy meeting, according to Sagar Dua, a financial analyst at Fxstreet. The central bank is expected to keep interest rates unchanged at 5.25%-5.50% for the eighth consecutive time. In the monetary policy statement and press conference, Fed Chairman Jerome Powell is expected to reiterate that inflation has returned to the bank's 2% target. Powell may also highlight rising risks to the labor market. It will be difficult for Powell to set a timeline for a rate cut as the fight against inflation is far from over and the US economy is growing at a strong pace.
OANDA:XAUUSD
by NicoTradingMaster
AUD/NZD Short, NZD/CAD Short and WTICO/USD ShortAUD/NZD Short Minimum entry requirements: • If 3 touch 1H continuation or 2 touch 1H continuation with 3 touch structural approach, 15 min risk entry within it. NZD/CAD Short Minimum entry requirements: • 1H impulse down below area of interest. • If 3 touch 15 min continuation or 2 touch 15 min continuation with 3 touch structural approach, 5 min risk entry within it, or reduced risk entry on the break of it. WTICO/USD Short Minimum entry requirements: • Tap into area of value. • 1H impulse down below area of interest. • If 3 touch 5 min continuation or 2 touch 5 min continuation with 3 touch structural approach, reduced risk entry on the break of it. • If 3 touch 15 min continuation or 2 touch 15 min continuation with 3 touch structural approach, 5 min risk entry within it, or reduced risk entry on the break of it.
OANDA:WTICOUSDShort
by StewySongs
YEN - Major trend reversal or big correction ? • Japanese yen surged around 10% in July potentially marking the end of a multi year bull trend. • Markets expectation's of FED-BOJ policies convergence, especially after yesterday's delivery of the first rate hike by the BOJ and a dovish signal by the FED. • The pair broke below the previous major resistance/support at 151.70 and traded close to the ascending trend line support at 148. • The dollar yen is now trading just above 150 after attracting some buyers at the mentioned support level above. • If bears manage to keep the pair below the 151.70 level and potentially break the 148 level, their next downside target would be 146.50 followed by 140.
by RamziAbouAbdallah-CMT
USD/JPY Analysis: Anticipating a New Bullish ImpulseUSD/JPY, after retesting the demand area around $149.000, shows potential for initiating a new bullish impulse. This technical retest suggests the possibility of a fresh upward leg in the pair's price movement. By examining the Commitment of Traders (COT) report, we notice significant bullish sentiment among large traders, indicating support for a long position in USD/JPY. This aligns with our supply and demand analysis, which identifies the $149.000 level as a crucial demand zone where buying interest has emerged, providing a solid base for the price to move higher. Seasonality trends also favor this bullish outlook. Historically, this period tends to see strength in USD/JPY, adding confidence to our expectation of a new long setup. The combination of the retest of the demand zone, positive COT positioning, and favorable seasonality trends reinforces our anticipation of a bullish continuation. We are closely monitoring the price action and are prepared to enter a long position, expecting further gains from the current levels. This comprehensive approach, considering technical, sentiment, and seasonal factors, supports our strategy for a bullish setup in USD/JPY. Japanese Yes Futures: ✅ Please share your thoughts about USD/JPY 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.
Long
by FOREXN1
6
EUR/USD Faces Pressure with New Week's StartEUR/USD continues to face downward pressure as the new week begins, struggling to gain recovery momentum ahead of Tuesday's significant macroeconomic data releases. The US Dollar is currently exhibiting strong momentum, and historically, during this time of the year, our analysis indicates that the USD tends to strengthen until October or November before experiencing a retracement. Following the negative correlation in EUR/USD, we opened a bearish setup last week, and our forecast remains bearish. Early Tuesday, data from Germany revealed that the Gross Domestic Product (GDP) contracted at an annual rate of 0.1% in the second quarter. Despite this reading, there was no noticeable market reaction. Later today, the US economic docket will feature the Conference Board's Consumer Confidence data for July and the JOLTS Job Openings for June. A significant increase in job openings could bolster the USD and weigh on EUR/USD. Our forecast for the EUR/USD remains bearish. Additionally, the Commitment of Traders (COT) report shows an increase in retailer longs, which further supports our bearish outlook. Based on our analysis and current market conditions, we maintain a bearish forecast for EUR/USD. Stay tuned for further updates as we continue to monitor market developments. Previous Forecast: ✅ 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
1
Inflation returns and sends XAU soaringThe strength of the US labor market appears to be fading as a restrictive policy framework remains in place. The unemployment rate in June, at 4.1%, was recorded as the highest in more than two years. In addition, JOLTS Open Jobs data increased almost steadily in June. The number of job vacancies in June reached 8.18 million compared to expectations of 8.03 million but lower than the previously released figure of 8.23 ​​million, indicating that demand for jobs has been waning. On the other hand, bullion also benefited from safe-haven buying after an airstrike killed a Hamas leader in Tehran, Iran. Israel is believed to have carried out the assassination. The news angered Iran and its proxy groups across the Middle East.
OANDA:XAUUSD
by TrategySherpa
DXY on the riseWhile the Fed left rates unchanged, both the FOMC statement and Chairman Powell's press conference strongly suggested that the first rate cut was likely at the next meeting in September. The statement shifted the Fed's focus from a tilt toward higher inflation to a focus on both inflation and employment risks. He followed that up with repeated references to concerns that the welcome cooling in labor market conditions could go too far, threatening the full employment goal. The chairman also admitted that "some" members of the Committee had considered cutting rates at the last meeting, although all voted to keep rates unchanged. At one point, Chairman Powell admitted that a September rate cut was "on the table" although he dismissed suggestions that a 50bp cut was being considered. With the timing and magnitude of the first rate cut now well in hand, the harder question will be how quickly it will cut rates. The chairman couldn’t answer that question directly, of course, but his response to a related question suggested that the pace of labor market cooling was central to the issue. JPMorgan forecasts the first rate cut in September, followed by quarterly cuts, possibly monthly if unemployment continues to worsen.
TVC:DXY
by TrategySherpa
XAUUSD : Gold continues to rise strongly againGold prices continued to expand their gains thanks to safe-haven demand amid concerns over escalating tensions following the assassination of a Hamas leader in Iran. The war in Gaza and the deepening conflict in Lebanon have left the entire region in turmoil. In particular, the rise of this precious metal was further boosted when US Federal Reserve Chairman Jerome Powell hinted that a rate cut could be discussed as early as September if inflation remains in line with expectations. As expected, the Fed decided to keep interest rates unchanged at this meeting. However, Mr. Powell raised investors' hopes for a possible rate cut at the September meeting. He said that policymakers are increasingly confident that inflation is moving towards the 2% target.
OANDA:XAUUSD
by SantaTradeGold
AUD/NZD Short, AUD/CAD Short, WTICO/USD Short and NZD/CAD ShortAUD/NZD Short Minimum entry requirements: • If 3 touch 1H continuation or 2 touch 1H continuation with 3 touch structural approach, 15 min risk entry within it. AUD/CAD Short Minimum entry requirements: • If 3 touch 1H continuation or 2 touch 1H continuation with 3 touch structural approach, 15 min risk entry within it. WTICO/USD Short Minimum entry requirements: • 1H impulse down below area of interest. • If 3 touch 15 min continuation or 2 touch 15 min continuation with 3 touch structural approach, 5 min risk entry within it, or reduced risk entry on the break of it. NZD/CAD Short Minimum entry requirements: • Tap into area of value. • 1H impulse down below area of interest. • If 3 touch 15 min continuation or 2 touch 15 min continuation with 3 touch structural approach, 5 min risk entry within it, or reduced risk entry on the break of it.
Short
by StewySongs
Gold bounces back after breaking 2400 peakGold prices fell slightly in this morning's trading session, fluctuating around $2,405/ounce. World gold prices reversed after gaining more than $35/oz in the previous session. The Fed is expected to maintain the current interest rate after its policy meeting in the middle of this week. However, the market expects the Fed to start easing policy as early as September as recent data shows inflation is approaching the 2% target. Traders are also awaiting a series of US employment data scheduled for release this week, including the important non-farm payrolls report due on Friday.
TVC:GOLD
by NicoTradingMaster
AUD/USD Short, NZD/CAD Short, EUR/NZD Long and NZD/JPY ShortAUD/USD Short Minimum entry requirements: • Tap into area of value. • 1H impulse down below area of value. • If 3 touch 15 min continuation or 2 touch 15 min continuation with 3 touch structural approach, 5 min risk entry within it, or reduced risk entry on the break of it. NZD/CAD Short Minimum entry requirements: • Tap into area of value. • 1H impulse down below area of interest. • If 3 touch 15 min continuation or 2 touch 15 min continuation with 3 touch structural approach, 5 min risk entry within it, or reduced risk entry on the break of it. EUR/NZD Long Minimum entry requirements: • Tap into area of value. • 1H impulse up above area of interest. • If 3 touch 15 min continuation or 2 touch 15 min continuation with 3 touch structural approach, 5 min risk entry within it, or reduced risk entry on the break of it. NZD/JPY Short Minimum entry requirements: • Tap into area of value. • 1H impulse down below area of interest. • If 3 touch 15 min continuation or 2 touch 15 min continuation with 3 touch structural approach, 5 min risk entry within it, or reduced risk entry on the break of it.
by StewySongs
XAU awaits Fed decision for fresh impetusGold (XAU/USD) struggled to stay above $2,400 and attracted some selling pressure during Monday’s trading session due to strong demand for the US dollar. Risk sentiment was also seen as a factor weighing on the safe-haven precious metal. However, geopolitical risks from ongoing conflicts in the Middle East provided some support for gold. Meanwhile, growing expectations that the US Federal Reserve (Fed) will start cutting interest rates in September, reinforced by Friday’s US inflation report, limited the USD’s gains and helped limit the decline in gold. Moreover, traders opted to wait for the outcome of the two-day Federal Open Market Committee (FOMC) meeting ending on Wednesday. Investors will continue to monitor the Bank of Japan (BoJ) decision on Wednesday, the Bank of England (BoE) meeting on Thursday and key US macro releases, including the non-farm payrolls (NFP) report on Friday, this week. In addition, other economic data scheduled early in the new month will provide more information on the health of the global economy and determine the next direction for gold prices.
OANDA:XAUUSD
by TrategySherpa
XAU slightly down todayToday, the US central bank, the Federal Reserve (Fed), begins its first meeting of July and will end on Wednesday night - early Thursday (Hanoi time). The Bank of Japan (BOJ) will also meet tomorrow and the Bank of England (BOE) will meet and end on Thursday. According to Fed officials, inflation is on track, more positive when the core PCE index, excluding food and energy prices, fell to 2.6% in June 2024, much lower than the 4.3% in the same period last year. The job market is having a soft landing when the unemployment rate increased from 3.7% at the end of 2023, to 4.1% in June.
OANDA:XAUUSD
by NicoTradingMaster
XAUUSD : Gold is down but that is bullish momentumA drop below $2,380 could continue to attract buyers near the 50-day SMA, around $2,360-2,359. A break-down of the 50-day SMA would push the price towards the $2,350 support. The price could then continue to decline towards the 100-day SMA, around the $2,325-2,324 region. Further downside could see XAU/USD test the sub-$2,300 levels or the June 2024 low. On the contrary, the bulls are struggling to capitalize on the upside momentum above $2,400. Meanwhile, if XAU/USD breaks out of the $2,400 pivot, it could face some resistance around $2,412. Gold prices could then climb to the intermediate resistance level of $2,469-2,470 and challenge the record high, around $2,483-2,484.
OANDA:XAUUSD
by SantaTradeGold
EUR/NZD Short and AUD/NZD LongEUR/NZD Short Minimum entry requirements: • Break above area of value. • 1H impulse down below area of interest. • If 3 touch 5 min continuation or 2 touch 5 min continuation with 3 touch structural approach, reduced risk entry on the break of it. • If 3 touch 15 min continuation or 2 touch 15 min continuation with 3 touch structural approach, 5 min risk entry within it, or reduced risk entry on the break of it. AUD/NZD Long Minimum entry requirements: • If area of value tapped into by way of a three touch structural approach, risk entry after a 15 min rejection from it.
by StewySongs
EUR/USD Short and EUR/GBP ShortEUR/USD Short Minimum entry requirements: • Tap into area of value. • 1H impulse down below area of interest. • If 3 touch 5 min continuation or 2 touch 5 min continuation with 3 touch structural approach, reduced risk entry on the break of it. • If 3 touch 15 min continuation or 2 touch 15 min continuation with 3 touch structural approach, 5 min risk entry within it, or reduced risk entry on the break of it. EUR/GBP Short Minimum entry requirements: • 1H impulse down below area of value. • If 3 touch 5 min continuation or 2 touch 5 min continuation with 3 touch structural approach, reduced risk entry on the break of it. • If 3 touch 15 min continuation or 2 touch 15 min continuation with 3 touch structural approach, 5 min risk entry within it, or reduced risk entry on the break of it.
Short
by StewySongs
1