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GOLD Shows Modest Gains Anticipation of US Inflation Data-FOMCGold, after modest gains over the past two days, trades with a negative bias during the early European session on Wednesday. This slight downturn, however, lacks momentum as traders await crucial US economic data releases later in the day. Market Sentiment and Anticipated Economic Data Traders are keenly focused on the upcoming consumer inflation figures from the United States and the outcome of the highly-anticipated Federal Open Market Committee (FOMC) meeting. These events are expected to provide new insights into the Federal Reserve’s plans regarding interest rate cuts, which will significantly influence the near-term trajectory of gold, a non-yielding asset. Technical Analysis From a technical perspective, the H4 timeframe shows a divergence on the Relative Strength Index (RSI), indicating potential bullish momentum. This divergence follows a rebound from a key demand or support area, suggesting that the recent downtick may be temporary. The technical indicators are aligning to potentially support a price increase, especially if the economic news aligns with expectations. Economic Indicators to Watch Consumer Inflation Figures: The latest US consumer inflation figures will be pivotal. Strong inflation data could imply sustained economic growth, potentially leading to a delay in interest rate cuts. Conversely, weaker inflation data might reinforce expectations for a more dovish Fed, supporting gold prices. FOMC Meeting Outcome: The FOMC meeting is another critical event. Any indications from the Federal Reserve regarding the timing and pace of interest rate cuts will be closely scrutinized. A dovish stance from the Fed could weaken the US Dollar and bolster gold prices. Potential Market Reaction The interplay between these economic indicators and the market's reaction will be crucial. Should the inflation figures and FOMC outlook hint at a delay in rate cuts, gold may experience pressure due to a stronger US Dollar. On the other hand, dovish signals from the Fed could lead to a rebound in gold prices, aligning with the technical indicators suggesting a bullish impulse. In conclusion, Gold is currently experiencing a modest downturn but remains poised for potential gains depending on the upcoming US economic data. The divergence on the RSI in the H4 timeframe supports a bullish outlook, contingent on the release of favorable economic news. Traders should be prepared for increased volatility and watch for key signals from the consumer inflation figures and the FOMC meeting to gauge the future direction of gold prices.
OANDA:XAUUSDLong
by FOREXN1
1
The Japanese yen continues to weakenThe Japanese Yen remains weak as the BoJ is expected to maintain current policy in June The Japanese Yen fell slightly as the BoJ is expected to maintain current interest rates on Friday. Japan's stable stock market has weakened the JPY. The US dollar held firm as the likelihood of two Fed rate cuts in 2024 decreased. USD/JPY traded around 157.20 on Tuesday. Daily chart analysis shows an uptrend as the pair consolidates in an ascending channel pattern. Additionally, the 14-day Relative Strength Index (RSI) is above the 50 level, indicating a bullish trend. Significant hurdles can be seen at the psychological level of 158.00. A break above this level could provide support, potentially guiding the USD/JPY pair towards the vicinity of the upper boundary near the 158.60 level. The next level of resistance is seen at 160.32, which marks the highest level in over thirty years. On the other hand, the lower boundary of the ascending channel, roughly at 154.90, stands out as key support, coinciding with the 34-day Exponential Moving Average at 154.86. A breach below this level could intensify bearish pressure on the USD/JPY pair, potentially steering it towards the pullback support area around 152.80.
by TVS-Trader
1
Regain the mark of 2,300 USD/ounceGold prices regained the 2,300 USD/ounce mark because investors had a bottom-fishing mentality after prices plummeted last weekend. Experts say that gold prices are going against the general rules of the market when many forecasters receive bad news. The US consumer price index for May, which is about to be published, is likely to increase, making the US Federal Reserve's (Fed) delay in cutting interest rates even longer. Gold investors are turning their attention to the Fed's Federal Open Market Committee (FOMC) meeting scheduled for June 11-12 (US time), which will open up a more positive direction. for gold price. Here, the FOMC will provide insight into the plans and timeline for expected interest rate cuts this year and through 2026. Gold is having difficulty trying to regain the 2320 level. Yesterday in the US session, gold achieved a recovery level of 2313 according to investors' expectations after a weekend of catastrophic price decline. Unable to reach the expectation of 2320, gold is stuck around the 2300 price range. The upward recovery will likely continue until gold returns to the market's downward trajectory. SELL zone 2330-2332 SL 2335 SELL zone 2281-2279 SL 2276 Pay attention to support and resistance points to have the best trading strategy Support: 2286 - 2280 - 2270 Resistance: 2315 - 2329 - 2338
OANDA:XAUUSD
by TVS-Trader
1
USDJPY sideway waits NONFARM to break narrow marginThe Japanese yen was flat on Friday after the Japanese finance ministry announced Japan's foreign exchange reserves. Japan's Ministry of Finance announced that he will take action on excessive JPY exchange rate volatility when necessary and will evaluate the effectiveness of the intervention. He emphasized the importance of maintaining market confidence in the JPY while also mentioning that there is no limit to the resources for the foreign exchange intervention fund. The dollar is struggling after weak US employment data raises hopes that the FED will lower interest rates twice in 2024. Economists predict a rate cut in September in addition to the possibility of another cut. The possibility of the FED lowering interest rates in September. In the h4 time frame, there have been signs of a bearish reversal in the USDJPY pair. The 34 EMA has crossed down to the 89 EMA and the recently created highs are getting lower. Overall, the pair is still stuck in a narrowing price band and is waiting for Nonfarm today to break out of the band. Pay attention to important support and resistance zones: Support: 156,400-153,600 Resistance: 154,500-157,700
by TVS-Trader
1
Today's trading trends, selling strategiesThe employment and economic data released by the US last week showed both positive and negative trends. However, the fairly positive job market has caused the market to predict that the US Federal Reserve (Fed) will not cut interest rates before November this year, instead of September as previously forecast. Experts say that world gold prices in the next few days will adjust within a narrow range to wait for information from the Fed meeting taking place on June 11-12. Surely the Fed will keep interest rates unchanged this meeting. However, the market will look for information about the health of the US economy and the direction of inflation. Some financial institutions believe that the Fed cutting interest rates may consider the deflation situation of the world's No. 1 economy, when it twice reported the country's gross domestic product growth in the first quarter. a sharp decrease compared to the fourth quarter of 2023. Experts recommend that investors should patiently wait for information from the Fed meeting. Because gold prices will be strongly affected when the Fed releases positive information from the US economy.
TVC:GOLDShort
by FalCol_TradingMaster
Gold fell deeply at the end of the week, the downtrend continuedWorld gold prices tend to recover with spot gold increasing by 2.3 USD compared to last week's closing level to 2,294.9 USD/ounce. The gold market this week is forecast to have many fluctuations and the direction of this precious metal depends heavily on the consumer price index (CPI) report and the interest rate decision of the US Federal Reserve (Fed). ) and a speech from the head of the world's most powerful central bank. Last week, the market witnessed a strong sell-off when receiving two unfavorable information. Gold lost up to 80 USD during the day, recording the strongest intraday decline in 4 years. Specifically, the price reversed when the latest report showed that the People's Bank of China did not add gold last month, cutting off this central bank's 18-month gold buying streak. The report raises concerns that gold demand will slow down in the near future. While the market is gradually stabilizing, expectations that the Fed will raise interest rates in September are gradually fading after the US Department of Labor's employment report dealt another strong blow to the market. The Fed started the fight against inflation from March 2022 with interest rate increases. In this way, the US Central Bank wants to slow down economic growth and reduce inflationary pressure, with the goal of bringing inflation down to 2%. Recent inflation reports show that inflation is currently at 2.7%.
OANDA:XAUUSDShort
by FalCol_TradingMaster
GOLD FORCASTThe current analysis indicates a bearish trend for XAUUSD. A retest of 2355 is expected. If it fails to hold above this level, the price is projected to decline first to 2328 and, if it stabilizes below 2328, continue to 2306. Alternatively, if it stabilizes above 2355, a bullish trend towards 2397 is anticipated. Additionally, the market is expected to be very volatile due to upcoming NFP and Unemployment news. Key Levels: Bullish Lines: 2355, 2397, 2412 Bearish Lines: 2328, 2306, 2281
OANDA:XAUUSD
by RojBarwari
GOLD: Bullish Setup Anticipated Amid USD Weak and Low Treasury YGOLD: Bullish Setup Anticipated Amid USD Weak and Low Treasury Yields On Tuesday, gold dropped to the $2,315 area, nearing the multi-week low touched the previous day, influenced by a modest strengthening of the US Dollar (USD). Despite the USD's attempted recovery from its over two-month low, there was no significant follow-through, due to increasing expectations that the Federal Reserve (Fed) will cut interest rates later this year, bolstered by softer US macroeconomic data. These expectations have kept US Treasury bond yields depressed, which in turn has benefited the non-yielding yellow metal during the European session on Wednesday. Technical Analysis Overview For today's session, we are looking for a long setup for gold, particularly in light of the upcoming ISM Services PMI release in the US. From a technical perspective, several confluence factors support a bullish outlook: 1. Rebound from the 50% Fibonacci Level: The price has rebounded from the 50% Fibonacci retracement level, a significant support area indicating potential for upward movement. 2. Divergence on the H4 Chart: A divergence on the H4 chart suggests that selling pressure is weakening, further supporting the case for a bullish setup. These technical indicators align to suggest that gold is positioned for a potential upward move. Key Factors Influencing Gold 1. USD Strength and Fed Rate Cut Expectations: While the USD showed modest strength, it lacked sustained momentum due to growing expectations that the Fed will start cutting interest rates later this year. Softer US macro data has reinforced this outlook. 2. US Treasury Yields: Depressed US Treasury yields, influenced by expectations of Fed rate cuts, are benefiting gold. Lower yields decrease the opportunity cost of holding non-yielding assets like gold, making it more attractive. Market Strategy Given the current technical setup and fundamental backdrop, our strategy involves looking for a long position in gold. The rebound from the 50% Fibonacci level and the observed divergence on the H4 chart support this approach. Additionally, the anticipation of the ISM Services PMI release adds a potential catalyst for movement. Conclusion Gold has experienced some downward pressure but remains supported by underlying factors such as low US Treasury yields and expectations of future Fed rate cuts. The technical indicators, including the rebound from the 50% Fibonacci level and the divergence on the H4 chart, suggest a bullish setup is likely. As a result, the current market environment presents an opportunity to look for long positions in gold, particularly in anticipation of supportive economic data releases.
OANDA:XAUUSDLong
by FOREXN1
1
GBPUSD analysis week 24📌GBP/USD eases from 1.2765, keeping gains modest. GBP/USD hit a two-day peat at 1.2765 during the US session, as US data showed core PCE inflation held steady at 2.8% yoy in the month Private. The pair retreated later as risk aversion triggered demand for the US Dollar. 📌The possibility of the FED cutting interest rates in September is quite low. As the Fed has said they want to see inflation fall for months before considering a move to normalize policy, higher-than-expected inflation would significantly impact markets. FED interest rate cut will be delayed until November. If this index is lower, it will boost the prospect of FED lowering interest rates in September 📌The pair is trading within the border of the uptrend line and is strongly boosted by the EMA 34 and EMA 89 to extend the upward price momentum. The narrow price range of 1,280 and 1,268 that has been maintained continuously for the past two weeks could completely be broken in the next week with further resistance and support levels at 1,288 above and vice versa at 1,265 below. 🕯Trading signals SELL zone 1.28800-1.29000 SL 1.29300 BUY zone 1.26500-1.26300 SL 1.26000
by TVS-Trader
Gold rose sharply after ADP when the ADP index was lowWorld gold prices reached the highest level of the last two weeks around 2374. Gold was supported by the weakening of the USD and the decline in US government bond yields after the latest labor market data. The ADP report of private companies added 152,000 jobs in May, much lower than forecast and compared to recorded in the previous month, this is the lowest level since the beginning of the year. Weak labor numbers may force the Fed to act soon. The possibility of the FED reducing interest rates in September is higher than 60% to boost the economy from which gold can benefit. Gold has escaped the falling price range and returned to the uptrend in line with the market trajectory. Gold created a new trading range with the main resistance and support levels at 2400 and 2358. The EMA 34 and EMA 89 crossed each other in the h2 frame, signaling that the market began to reverse strongly and the price line formed a trend. short-term increase to reach the key price level of 2400. Support: 2358 - 2351 - 2345 - 2340 - 2331 Resistance: 2380 - 2385 - 2390 - 2400 - 2414 BUY zone 2357 - 2355 SL 2351 BUY zone 2341 - 2339 SL 2335 SELL zone 2383 - 2385 SL 2390 SELL zone 2398-2400 SL 2403
OANDA:XAUUSD
by TVS-Trader
Today's trading strategy, increasing trendAbout 6 o'clock on June 7, today's gold price of the world traded at 2,376 USD/ounce, an increase of 21 USD from the same price as the previous day was 2,355 USD/ounce. World gold price fluctuated in the context of the European Central Bank (ECB) for the first time since 2019, down 0.25 points of interest rate. This move makes the market raise expectations that the United States will continue the ECB to loosen monetary policy, in the direction of reducing interest rates in the near future. At that time, the dollar will drop compared to many other foreign currencies. World gold price can increase further in the future. So at this time, investors increased their purchasing power. Today's gold price increases tens of dollars/ounce is understandable.
TVC:GOLDLong
by FalCol_TradingMaster
Gold constantly increases when the trend is brokenThe world gold price continued to increase with spot gold increased by 20.4 USD to 2,376 USD/ounce. Future gold traded at 2,395.1 USD/ounce, up 19.6 USD compared to the dawn. The price of gold continues to increase and reach the highest level in 2 weeks when the US bond yield falls after the latest labor report. The published data shows that the "cooling down" of the US labor market has strengthened the possibility that the US Federal Reserve (Fed) will cut interest rates in September. Currently, investors are still hot. Waiting for non -agricultural payroll data of the US to be more sure about this expectation. The number of important non -agricultural jobs is forecast to increase by 178,000 compared to the April report with an increase of 175,000 jobs. Reporting the private sector in May of ADP published in the middle of this week has shown that the US labor market is gradually cooling down. According to the market analyst Carlo Alberto de Casa of Kinesis Money, precious metals are supported by the expectation of the recession of the world's leading economy and the peaceful US Bank in the next few months. .
OANDA:XAUUSDLong
by FalCol_TradingMaster
Strong increase again, today's trading trendGold prices fluctuated today amid weaker-than-expected US employment data. Since then, the market has speculated that the country's economic growth will slow down. Investors strengthen expectations that the US Federal Reserve (FED) will cut interest rates by the end of 2024. Accordingly, US bond interest rates dropped to 4.2%, meaning the value of bonds decreased. Investors put capital into bonds to generate profits. As a result, very little money flows into precious metals. Gold price today has upward momentum. The World Gold Council said that in April 2024, central banks around the world bought a net 33 tons of gold. This signals that many countries continue to increase their gold reserves to "save for a rainy day". With the above information, speculators may think the gold market will heat up. From there, they increase their purchasing power. Today's gold price in the world increased by 28 USD, from 2,327 USD/ounce to 2,355 USD/ounce at 6:00 a.m. on June 6.
TVC:GOLDLong
by FalCol_TradingMaster
Gold trading strategy today, continuing the upward momentumWorld gold prices increased sharply with spot gold increasing by 29.3 USD to 2,355.6 USD/ounce. Gold futures last traded at $2,375.20 an ounce, up $27.80 from the bright spot. World gold prices edged higher midweek, supported by a weakening USD and falling Treasury yields after the latest data showed the labor market cooling. According to ADP's report, private companies created an additional 152,000 jobs in May, much lower than the number recorded last month and experts' forecasts. This is the lowest monthly number unchanged since the bad month. RJO Futures senior market strategist Bob Haberkorn said the weak labor numbers act as a catalyst that could force the Federal Reserve to cut back before the end of the year. This has increased the appeal of gold. Lower performance reduces the opportunity cost of holding gold. According to the CME FedWatch tool, traders saw a roughly 67% chance that the Fed will deliver monetary policy in September, up from less than 50% last week. Analysts say that important upcoming US economic reports, including data on the health of the service sector and non-farm payrolls reports, are likely to influence the direction of printed gold prices. short.
OANDA:XAUUSDShort
by FalCol_TradingMaster
Maintain wide trading margins for a long timeGold continued to fall and traded below $2,330 on Tuesday, erasing most of Monday's gains in the process. Renewed US dollar strength drags XAU/USD lower as markets take a cautious stance ahead of US data. The $2,360 area (Friday's high) acted as a barrier for gold and caused gold to fall sharply as the strength of the PMI news was not enough to break this resistance. Gold has difficulty escaping the trendline that has lasted for nearly two weeks. Gold will soon be pushed up by the 2315 -2310 or 2305 support zones and continue to wait for ADP data or even wait until Friday when nonfarm is announced by breaking out of this wide accumulation zone. Price zones need attention to have an effective trading strategy Support: 2320 -2305 Resistance 2360-2348
OANDA:XAUUSD
by TVS-Trader