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Gold-short

Gold analysis, is this the bottom?The fed had raised the interest for the us market by 0.5 percent, which is a very large amount, although it was expected very high it had a huge impact on the market, Gold fell because investors want to have minimal risk and sell their Gold to invest their money in interest. Gold slowly started distancing from the 2k mark in April and formed a big falling wedge, which is in this moment getting retested. The RSI had fallen to only 30 which caused a small rebound in combination with the 1800 dollar support. If Gold closes below 1815 dollars today, its likely to see Gold get rejected from this pattern. The target of the wedge is at around 1700 dollars, but we need to remind ourselves that their is a really high inflation which could cause more people to invest in Gold as an inflation hedge. Thanks for reding! And a nice weekend!
GShort
by HenrikDaCrypto
GOLD: NEWS AND PRICE ACTION ANALYSIS | NEXT TARGET SHORT IDEA 🔔Gold Price Forecast: XAU/USD eyes further downside towards $1,800, Fed Chair Powell in focus Gold bounces off weekly/daily low but stays pressured during three-day downtrend. Fears of inflation/recession weigh on prices, headlines concerning China, market’s inaction probe bears. US Q1 2022 PCE details, central bankers’ panel discussion at the ECB Forum will be crucial for fresh impulse. Gold Price (XAU/USD) remains on the back foot around $1,820, despite the recent bounce from intraday low. In doing so, the yellow metal prints a three-day downtrend as traders await the week’s key data/events amid a sluggish Asian session on Wednesday. The bullion prices refreshed their weekly bottom on breaking a short-term symmetrical triangle the previous day as market sentiment soured amid recession/inflation fears. However, cautious optimism surrounding China seems to challenge the gold sellers of late. “China will halve to seven days its COVID-19 quarantine period for visitors from overseas, with a further three days spent at home, health authorities said on Tuesday,” per Reuters. The news also joined the latest comments from the US Deputy Commerce Secretary Don Graves who said, “A clear US response on China tariffs is coming soon,” per Bloomberg TV. Elsewhere, a jump in the one-year US consumer inflation expectations joined hawkish Fedspeak to renew the US dollar’s safe-haven demand. The US Conference Board (CB) Consumer Confidence Index dropped for the second consecutive month in June, to 98.7 versus 100.0 expected and 103.2 in May. In doing so, the widely followed consumer sentiment gauge dropped to the lowest level since February 2021. Further details revealed that the one-year consumer inflation rate expectations climbed to 8% from May's revised print of 7.5. It should be noted that the US trade deficit dropped to the lowest in a year, to $104.3 billion, per the latest release for May. Amid these plays, the US 10-year Treasury yields snapped a two-day uptrend whereas Wall Street closed in the red. The S&P 500 Futures, however, print mild gains and it seems to probe the gold bears of late. Moving on, the US Core Personal Consumption Expenditure (PCE) for Q1 2022, expected to remain unchanged at 5.1%, will precede the central bankers’ discussions at the ECB Forum to offer important insights. Should Fed Chair Jerome Powell manage to defend hawkish polic moves, the XAU/USD selling may gain extra strength.
OANDA:XAUUSDShort
by FOREXN1
1
Gold coming with that basement floor energy?Hi Traders, Today is the 1st day of the new month and I am once again looking at XAU/USD (Gold) I am loving the current price action on the H4 timeframe, Price has created a double top at 1868. And 1862, Price has been moving bearish ever since with no bullish candle in sight. We have now reached 18.30 where price is currently ranging, I believe price could play around this level for a while to accumulate enough strength to push and break that support. If price manages to break the support we have a clean range of 160 pips to the downside. I will be watching this one very close as I do not want to miss out on the move should it happen, We also need to be careful and vigilant because we could see a liquidity grab resulting in price pushing up after breaking the support, So my best way to enter would be for price to close below support and then retest the zone and then start the continuation to the downside. Remember we have a 160 pip range so that means we do not have to enter immediately, we have enough range to make some money even with a late or conservative entry. With that being said, I would love to this move play out around pre-New York or during the New York session.
FOREXCOM:XAUUSDShort
by Tradebudz
Potential shorts coming up on GOLD Hi Traders, I am looking at XAU/USD this morning as the London session has kicked in, Price has dropped since the Asian session open, then reversed to the Asian open within the session, We now see that price has wicked the top of the Asian session and seems as if this could be a liquidity grab to fuel price back to the Asian lows, I love how the current h1 candle is looking, I would like to see price close and then I will be looking for shorts if price creates a minor pullback, Keep in mind that price does not have to do anything, We can only react to what it gives us. I will be looking to target the Asian lows at 1846. And I will be securing profit on the way down. This is a simple yet effective setup if it plays out. Remain patient and trade what you see, not what you think should happen. Renaldo Philander.
OANDA:XAUUSDShort
by Tradebudz