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Gold price today, November 8: Reversing to go upGold prices jumped today as the US Federal Reserve (FED) cut interest rates by 0.25% as the market had predicted. Accordingly, the US base interest rate fell to 4.5-4.75%. This is the second time in 2024 that the FED has cut interest rates to reduce inflation to the 2% target and boost economic growth. Lower interest rates have put pressure on the value of the USD and bond yields to fall, after rising sharply on November 7 - the time Donald Trump was elected US President. Since then, gold prices have become attractive to investors. Bloomberg news agency reported that central banks around the world are concerned that Mr. Trump's policies could lead to slower global economic growth and higher inflation. Analysts say that in the long term, the world gold price will continue to heat up because President Donald Trump intends to impose high import taxes. At that time, the price of goods in the US will increase, affecting inflation, causing the USD to depreciate, pushing the price of gold up. 🔥 XAUUSD BUY 2683 - 2681🔥 ✅TP1: 2690 ✅TP2: 2700 ✅TP3: OPEN 🚫SL: 2675
OANDA:XAUUSDLong
by FalCol_TradingMaster
XAUUSD - 2024/11/08Looks like XAUUSD has already made the move that I was waiting for during Asian session. I will monitor the market to look for a potential retrace back into the 1h volume sell zone to take more shorts, but at the moment if the market does reverse back to entry I would be skeptical to enter because the market can easily just continue the bull run. Even though we had a strong push down with the US elections, XAUUUSD is still in a bullish market and needs to be taken into account when looking for shorts.
OANDA:XAUUSDShort
by VizeCapital
TG Therapeutics (TGTX) Analysis Company Overview: TG Therapeutics NASDAQ:TGTX is a biopharmaceutical company focused on developing and commercializing innovative treatments for B-cell diseases. The company's recent FDA approval of BRIUMVI for relapsing multiple sclerosis (RMS) marks a significant milestone, positioning TG Therapeutics to capitalize on a high-demand therapeutic area. Key Developments: FDA Approval of BRIUMVI: The approval of BRIUMVI for relapsing multiple sclerosis opens access to a substantial market, with nearly 1 million individuals in the U.S. affected by RMS. This provides a significant revenue opportunity, with BRIUMVI offering a new treatment option that has shown favorable efficacy, safety, and convenient dosing compared to existing therapies. Positive Market Reception: CEO Michael S. Weiss has expressed strong confidence in BRIUMVI's potential, noting positive feedback from both healthcare providers and patients. The drug's unique value proposition lies in its twice-yearly dosing, which is more convenient than the monthly or quarterly regimens offered by competitors, enhancing patient compliance and satisfaction. Pipeline and Future Growth: The successful launch of BRIUMVI is a testament to TG Therapeutics' ability to introduce novel treatments. This sets a strong foundation for future developments in B-cell disease therapies, as the company explores additional indications and expands its pipeline. BRIUMVI's performance in the market could pave the way for further advancements in TG Therapeutics' product offerings. Investment Outlook: Bullish Outlook: We are bullish on TGTX above the $21.00-$22.00 range, driven by the strong initial reception of BRIUMVI and its potential to capture a significant share of the RMS market. Upside Potential: Our price target for TG Therapeutics is set at $34.00-$35.00, reflecting the expected revenue growth from BRIUMVI and the company's strategic positioning in the biopharma sector. 🚀 TGTX—Leading the Way in B-cell Disease Therapies! #BiopharmaInnovation #MultipleSclerosis #NewTreatmentOptions
NASDAQ:TGTXLong
by Richtv_official
FOMC and Powell support GOLD, bearish outlook still prevailsOANDA:XAUUSD Spot trading rose nearly 2% yesterday when the Federal Reserve cut interest rates by 25 basis points as market predicted, causing the US Dollar to plunge and giving gold a boost. The Federal Reserve cut its benchmark interest rate by 25 basis points on Thursday, while policymakers noted a "broad deterioration" in the job market. Officials voted unanimously to lower the federal funds rate to a range of 4.5%-4.75%. Federal Reserve Chairman Jerome Powell said Trump's presidential election victory will not directly affect monetary policy. Federal Reserve interest rate cuts have put pressure on the US dollar and bond yields, while boosting the investment appeal of non-yielding gold. FOMC content In their monetary policy statement, officials acknowledged the economy is growing steadily despite slowing labor market conditions. They admitted inflation was close to the Fed's 2% target but still remained slightly high. Fed policymakers also noted that the risks to achieving their dual mandates were “roughly balanced” but acknowledged uncertainty about the economic outlook. The Federal Open Market Committee (FOMC) statement said: "The Committee believes that the risks to achieving its employment and inflation goals are balanced and that there is uncertainty about the economic outlook. The Committee concerned about the risk of achieving his dual mandate." While policymakers noted “progress” in achieving the inflation target, they neglected to mention “becoming more confident that inflation can move steadily toward 2 percent.” sustainable”. “Labour market conditions have generally eased since the beginning of this year, with the unemployment rate rising but remaining low,” the Fed statement said. Powell said the election results would not affect decision-making in the short term and that there was flexibility in future policy direction. At his post-FOMC press conference, Fed Chairman Jerome Powell avoided giving specific guidance on the future direction of interest rates, leaving room for flexibility at the December meeting and beyond. He emphasized that because the economy is strong, the Fed can take its time lowering interest rates. He acknowledged that even after Thursday's rate cut, policy remains restrained as officials aim to return interest rates to neutral levels. Regarding the pace of interest rate cuts, Powell said if the labor market weakens or slows as it approaches neutrality, the Fed could accelerate the pace of interest rate cuts. However, he clarified that no final decision has been made yet. Powell also said that in the short term, the presidential election results will not directly affect monetary policy. General assessment The Fed's 25 basis point cut boosted gold prices, on the other hand, Powell made very clear statements about the possibility and prospect of cutting interest rates and this is not beneficial for the US Dollar. A very basic knowledge is that the US Dollar is controlled by the Fed and not under the power of the US President. Therefore, even in the event that Trump is elected and boosts the US Dollar, it will still be restrained by the policy of cutting interest rates. Only if Trump can completely eliminate the Fed will the US Dollar have nothing to show for it. prevent. Of course, this is without precedent, nor has any President been able to do this. Analysis of technical prospects for OANDA:XAUUSD Although gold has recovered strongly from the 0.618% Fibonacci level confluence with the lower edge of the channel, it is still in a downtrend with the price channel as the short-term trend. On the other hand, gold's upward momentum has also been limited by the EMA21 level, and it still has enough bearish conditions when the Relative Strength Index is also showing signs of folding down from the 50 level area. If gold falls below the 0.382% Fibonacci retracement level, it will have the potential to fall a bit further with a short-term target of around 2,684 USD rather than 2,668 USD. However, in case gold moves above the EMA21 level it will tend to increase further to test the 0.236% Fibonacci level. Therefore, for open selling positions should be protected above EMA21 quite "strictly." During the day, gold still has a bearish technical outlook with notable points listed as follows. Support: 2,684 – 2,668USD Resistance: 2,700 – 2,710USD SELL XAUUSD PRICE 2736 - 2734⚡️ ↠↠ Stoploss 2740 →Take Profit 1 2729 ↨ →Take Profit 2 2724 BUY XAUUSD PRICE 2676 - 2678⚡️ ↠↠ Stoploss 2672 →Take Profit 1 2683 ↨ →Take Profit 2 2688
OANDA:XAUUSDShort
by Xayah_trading
Market Analysis: A Breakout to New Highs, but Will It Hold?After a prolonged over 250-day range, BTC has broken out to a new all-time high (ATH) above the $75K zone, fueled by renewed interest following recent election sentiment and influential media coverage. This breakout marks a key technical development, but the question remains: Can it sustain? Key Observations and Price Action Insights New High Zone ($75K): The breakout above $75K looks technically healthy, with price action showing strength and bullish sentiment. To build confidence in a continued uptrend, BTC would ideally hold above this zone consolidating through few days, allowing for a strong base before seeking higher levels. Potential Retracement Levels: Mid-Range Support ($63K): If the current level fails to hold, BTC could revisit the mid-range support around $63K, a key level for possible consolidation and renewed buying interest. Lower Range Support ( GETTEX:52K ): In the unlikely event of a more substantial correction, BTC could target the lower boundary near $52K. However, strong interest from high-profile figures and positive sentiment may help mitigate any significant pullbacks. Strategy Considerations: Traders should proceed with caution while tracking these key levels. Although sentiment and momentum remain robust, monitoring BTC’s behavior at these crucial zones will be essential for managing potential risks. The coming days could set the tone for a continuation or indicate a reversion to established levels.
by hazaq
How Yen Trends & Wage Growth Signal Opportunities in Nikkei 225 By Danish Lim Zhi Lin, Investment Analyst Current Performance of Nikkei 225 Index: Since our last trade idea ( ), the Nikkei 225 Index has rebounded from around 36,215 on 9 September to 39,480 at the close on 6 November, a gain of about 9%. Nevertheless, Japanese equities are yet to hit their July record highs, as a stronger Yen, political uncertainty, and potentially higher interest rates weighed on sentiment. Green Shoots in Japan: In our previous posting, we highlighted how the fundamentals behind Japanese equities remained unchanged despite a bout of volatility in August and September. We viewed the August drawdown in equities as temporary and believed it was tied to headwinds in the global economy rather than Japan itself. Rising real wages provided further optimism that a virtuous wage-price spiral could be achieved, potentially boosting consumer spending and sentiment. The latest data on wages supported our view, as Japanese workers’ base salaries saw the largest increase in over 3 decades, backing the BOJ’s view that the economy remains on the recovery track. Base pay advanced 2.6% YoY in September, up from 2.4% in August, the strongest increase in over 31 years. Scheduled cash earnings, a more stable measure of wage trends that excludes overtime pay, rose by 2.9% YoY, up from 2.8%. However, real wages fell for a 2nd straight month. Nevertheless, wage hike momentum remains steady despite pockets of weakness, this could fuel spending and lead to demand-led inflation. At the same time, corporate reforms and growing shareholder activism have also led to higher dividends, more share buybacks and stronger balance sheets. While the BOJ kept rates unchanged at its last policy meeting, there is still a possibility of another rate hike further down the road. US Elections and USD/JPY: On 6 November, the Nikkei 225 closed up by 2.61%, as the USD/JPY currency pair rose to 153.93 at 15:39 SGT, potentially on the verge of testing the key psychological level of 155. The negative correlation between the Nikkei 225 and USD/JPY has been well documented, with a weaker Yen benefitting many export-heavy Japanese firms such as Toyota and Fast Retailing, parent of Uniqlo. The rise in the Dollar was driven by an increase in yields across the Treasuries curve following the US election results; as traders positioned for Trump’s tariffs to drive up inflation and tax cuts to boost the budget deficit. In our view, we believe that the USD/JPY currency pair has more room to extend its rally for the remainder of the year. This could potentially provide further support for the Nikkei 225. Back in 2016, Trump’s election victory saw the Dollar Index surge over 3% in October, similar to what happened last month. However, the Dollar Index rallied another 3% in November 2016. We could see a similar picture playing out this year. We also expect the Fed to slow its pace of rate cuts, given the inflation-inducing policies Trump is expected to push. BOJ: To Hike or Not to Hike? Following Donald Trump’s election win, Japan’s chief currency official Atsushi Mimura said that “we’re seeing one-sided, sudden moves in the currency market” as the yen weakened towards the 155 level against the Dollar. Mimura added that the central bank will monitor markets with a “very high sense of urgency”. A weak Yen has the potential to boost imported inflation, putting pressure on the BOJ to raise rates. We expect to see verbal intervention from officials if Dollar strength remains in place. A breach of the 160 level could prompt actual currency intervention from the government. Japan’s Politics The situation is further complicated by the recent loss of a parliamentary majority by Japan’s ruling Liberal Democratic Party (LDP) in last month’s lower house election. This outcome could force the LDP to form a new coalition, potentially leading to power-sharing agreements that introduce political uncertainty. Such developments could delay the Bank of Japan's (BOJ) anticipated rate hike, with opposition parties—some of which may become pivotal in coalition negotiations—advocating for a more dovish monetary stance. Notably, Yuichiro Tamaki, leader of the opposition Democratic Party for the People (DPP), has called for a six-month delay before any further rate hikes. As a result, the prospects of delayed BOJ tightening, combined with rising US yields driven by the policies of a potential Trump administration, have led to a widening of the interest rate differential between Japan and the US, now at its most pronounced since July. This dynamic has exerted upward pressure on the USD/JPY exchange rate. The US-Japan 10-year yield spread has increased from its September low, which aligns with the recent rise in the USD/JPY currency pair. () Nikkei 225 Outlook & Trading Opportunity: In our view, we see Trump's election victory as tactically positive for Japanese equities and the Nikkei 225. The underlying economic fundamentals remain robust, with real wages on a positive growth trajectory. The resurgence of healthy inflation coupled with rising wages could trigger a virtuous cycle of price and wage increases, which would provide a broad economic boost and, by extension, benefit the equity market. Trump's election victory could also alter the flow of capital into 2 of Asia's largest equity markets. Specifically, as investors adopt a more cautious stance towards potential tariffs on China, we anticipate that funds will increasingly flow into Japan. We expect the Nikkei 225 to benefit from Trump’s inflationary policies - which could keep US interest rates high, which could in turn strengthen the Dollar and weaken the Yen to the advantage of the Japanese equity market. However, upside could be limited given the risk of a currency intervention by Japanese authorities to stem Yen weakness. If China's expected stimulus measures fall short of market expectations, we anticipate that investors may rotate their positions out of China and into Japan, a pattern we already observed during the lead-up to China’s previous round of stimulus announcements.. Expressing Our View: We maintain our previous trade setup: Long Nikkei 225 Index Futures Based on a Fibonacci Extension drawn from the October 2023 to the July 2024 high, the daily chart shows the index rebounding from the 5 August low of 31,156; but has since consolidated within 37,700 – 39,500. If Dollar strength remains, we expect an appreciation in USD/JPY to send the Nikkei 225 Index upwards towards resistance at the 0.786% extension level around 40,500 within the month of November. If breached, we see the next resistance level at around 43,000 – 43,050. • Entry Level: 39,000 • Target Level: 40,500 (1-Month target) • Stop Loss Level: 38,500 (trailing stop preferred) • Profit at Target: 1500 x ¥500= ¥750,000 • Loss at Stop: 500 x ¥500= ¥250,500 • Reward: Risk Ratio: 3x Trade Nikkei 225 with Phillip Nova now
INDEX:NKYLong
by phillip_nova
FBTC: Break Out After 12 Months of Sideways - DCA TradeAll the white lines are buys. My weighted average price per share would be somewhere in the middle. I Dollar Cost Averaged into the position from basically the launch of the product on exchanges earlier this year, Say March 24. The trade looks to finally be playing out. Long Term Hold position for me, and will add on higher timeframe (1 Day, 3 Day, Weekly) oversold conditions outside a normal standard deviation. Fun time to be a trader at the moment.
AMEX:FBTCLong
by BitInfo12
GOLD established a falling structure after a sharp declineOANDA:XAUUSD Spot delivery is basically stable after yesterday's plunge. The current gold price is about 2,660 USD/ounce. Previously on Wednesday (November 6), after Trump was elected President of the United States, investors rushed to buy US Dollar, OANDA:XAUUSD plummeted to its lowest level in 3 weeks. As sent to readers in many articles about the election of Trump, a shock decline in gold is inevitable because Trump's "steering wheel" will support the Dollar from general economic policies. Trump's victory will boost the dollar as he is expected to propose new tariffs that could cause a spike in inflation and cause the Federal Reserve to pause its easing cycle. Fed decision upcoming After cutting interest rates by 50 basis points in September, the market expects the Fed to cut interest rates by 25 basis points this time. The US economic calendar today (Thursday) will focus on the Federal Reserve's monetary policy decision. The Fed is expected to reduce borrowing costs by 25 basis points to a range of 4.50%-4.75%. Trump and the Fed Trump's economic policy proposes imposing taxes, increasing the fiscal deficit, and reducing taxes. His economic advice conflicts with the Fed's anti-inflation policy. Therefore, the Fed will be forced to take a very cautious approach when loosening monetary policy. The risk of rising inflation after Trump introduced new taxes could slow the pace of interest rate cuts by the Federal Reserve. This is very important because Trump and the Fed are becoming opposing, it is likely that Trump will destroy all previous efforts of the Fed to curb inflation. For more than 70 years, the Federal Reserve has operated as an independent government agency in the United States, but this tradition may soon be overturned. After declaring victory on Wednesday (November 6), Donald Trump is preparing to talk about "interest rates" after taking office in January 2025, insisting his intuition is better than the Chairman of the Reserve Federal Powell. For more than 70 years, the US central bank has operated as an independent government agency. When officials meet to decide interest rates, they will not need to consult with the president and other elected officials. That's because, as the former Fed chairman famously said, “The job of the central bank is to get rid of the drinking bowl just as the party is getting started.” In other words, they have to make unpopular decisions that ultimately seek to bring long-term benefits to the economy. However, once President-elect Trump returns to the White House, the independence the Fed has maintained for many years could be compromised. Trump's statement was posted on CNN: “I think the president should at least have a say. I feel very strongly,” Trump said about the Fed's interest rate decision at a press conference in August. Trump added: “I make a lot of money, I'm very successful and I think in many situations I have better abilities than the people at the Fed or the president.” Analysis of technical prospects for OANDA:XAUUSD After yesterday's strong price drop, gold has all the technical conditions to decrease in price through the price channel. The fact that gold was sold below the price channel and the 21-day moving average (EMA21) caused the bullish price structure to be completely broken. Currently, gold is recovering slightly after receiving support from the 0.618% Fibonacci retracement level, and once this level is further broken below, gold tends to continue to decline with a subsequent target level of around 2,600 USD around the 0.786% Fibonacci retracement area. On the other hand, the Relative Strength Index continues to point downward after breaking the 50 level, which should be considered a negative signal for gold as the RSI's next target is 25. Showing that the downward momentum remains quite wide in the front. In the near future, technically, gold has the potential to decrease in price with the price channel being the short-term trend. As long as gold remains in the price channel and below the EMA21 level, the bearish outlook will still be prioritized, and the notable points will be listed as follows. Support: 2,640 – 2,645USD Resistance: 2,668 – 2,684 – 2,697USD SELL XAUUSD PRICE 2708 - 2706⚡️ ↠↠ Stoploss 2711 →Take Profit 1 2701 ↨ →Take Profit 2 2696 BUY XAUUSD PRICE 2637 - 2639⚡️ ↠↠ Stoploss 2633 →Take Profit 1 2644 ↨ →Take Profit 2 2649
OANDA:XAUUSDShort
by Xayah_trading
1
Bullish EURO ScalpThe Euro futures market is showing signs of short-term bullish momentum, supported by a recent uptick in buying pressure. With the Federal Reserve's 0.25% rate cut, market sentiment appears to favor a weaker dollar in the near term, providing an opportunity for scalping long positions. Looking to capitalize on quick intraday moves, the plan is to buy into minor pullbacks, targeting key resistance levels while maintaining tight stop-loss placements to manage risk effectively. This setup aligns with the broader potential for a short-term recovery amid mixed U.S. economic data.
CME:6EZ2024Long
by trader9224
Wayfair’s Way Up!Wayfair is building strong bullish momentum, with a gap forming around the $35.00 level. A breakout above the $49.00 resistance would confirm further upside, positioning the stock to reach the $76.18 weekly resistance. This trade offers a favorable risk-to-reward ratio, with risk managed via a stop-loss at $27.50. In the longer term, Wayfair has the potential to reach $90.66, supported by the company’s expanding presence in the e-commerce and home goods markets. As consumer trends continue to shift toward online shopping, Wayfair’s investments in logistics, supply chain efficiency, and a seamless user experience bolster its position for sustained growth. With a solid brand and loyal customer base, Wayfair is well-positioned to capture further market share, supporting a bullish outlook toward $90.66. With strong technical momentum and an advantageous market position, Wayfair is primed to reach $76.18 in the short term, with $90.66 as a longer-term target. Follow on X @The_Trading_Mechanic for more electric insights and market strategies! NYSE:W
NYSE:WLong
by The_Trading_Mechanic
Sui , the competitorUpdating charts consuming my energy or else i became lazy recently lol , here we have sui in a upward channel with the price close to the top although I’m not completely sure we’re gonna have a retrace from here but just in case i drew super cheap accumulation rectangle in blue for you beloved sharkie lads .first i started accumulation in 0.58 and still holding to see what market will do in the coming months, close to 20$ is my peak bull tp but will update in time . Stay safe .
CRYPTO:SUIUSD
by mastershark
1
Rivian Power Surge!Rivian is gaining bullish momentum, with a gap forming around the $9.00 level. A breakout above the $12.33 resistance would signal continued strength, positioning the stock to reach the $18.91 weekly resistance. This trade offers a strong risk-to-reward ratio, with a stop-loss set at $8.28 to manage downside. In the longer term, RIVN has the potential to reach $28.06, supported by its growing position in the electric vehicle (EV) market. With rising demand for sustainable transportation and Rivian’s focus on high-performance EVs, the company is well-positioned for future growth. Strategic partnerships, such as those with Amazon for electric delivery vans, enhance Rivian’s revenue prospects and visibility in the market, bolstering its longer-term potential. This combination of technical momentum and favorable market fundamentals supports a bullish push toward $18.91 in the near term, with $28.06 as a longer-term target. Follow @The_Trading_Mechanic for more health check-ups on your investments! NASDAQ:RIVN
NASDAQ:RIVNLong
by The_Trading_Mechanic
XRP Will Jump in Market Cap and Looks Bullish /Targets and PlansBINANCE:XRPUSDT COINBASE:XRPUSD 📈Which side you pick? Bull or Bear SL1 ---> Low-risk status: 2x-3x Leverage SL2 ---> Mid-risk status: 3x-4x Leverage (If there is just one SL on the chart, I suggest, low risk status) According to the price trend in the previous alt rally, you can see that XRP and DOGE are at their lowest market value compared to the previous rally. In the coming days, whenever the price of BTC is increasing or consolidating, while BTC.D starts a downward trend, we can expect the market's top tokens, especially XRP, to start jumping to ATH levels. The price falling below the yellow area cancels the bullish scenario. Potential price targets for the levels will be $0.88 and $1.2. 👾Note: The setup is active but expect the uncertain phase as well. also movement lines drawn to predict future price reactions are relative and approximate. ➡️Entry Area: Yellow zone: ⚡️TP: 0.65 0.88 1.20 1.64 🔴SL: 00.2950 🧐The Alternate scenario: If the price stabilize against the direction of the position, below or above the trigger zone, the setup will be canceled.
Long
by CrazyS
2