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Gold prices attract some sellers amid cautious FedGold prices fell again after once again facing rejection above 2334. A stronger-than-expected US purchasing managers index (PMI) released last week prompted Federal Reserve officials The Federal Reserve (Fed) pushed back the timing of cutting interest rates for the first time this year, which continues to limit gold's rise. However, safe-haven flows due to geopolitical tensions in the Middle East and Ukraine could boost the yellow metal in the near term. Investors will focus on the Fed's Cook and Bowman's speeches on Tuesday. Any evidence of an easing inflation trend could boost expectations of a Fed rate cut by the end of 2024. This could drag the Greenback lower and create a tailwind for Gold priced in USD. Gold is still trading near the important support level of 2320. We need to wait for more new market data to get an overview of whether the support level around 2320 will hold. Gold price is trading at a lighter level during the day. Gold hinh has formed a downtrend May 10 on the daily timeframe. The two moving averages EMA 34 and EMA 89 are still hesitant and have not clearly shaped the opening trend of the h4 frame. There are not many important resistance levels near gold's current price range. The price level of 2343 becomes the nearest resistance area, a breach of this level will pave the way to $2,365, the highest level of 2 weeks. On the other hand, the June 21 low at $2,316 serves as initial support for the yellow metal. Any further selling would see a drop to $2,305, which on a break of 2385 the low of June 7 would be the most important support at the moment. Support: 2316 - 2312- 2305 Resistance: 2337 - 2345 - 2367 SELL zone 2341 - 2343 stoploss 2346 BUY zone 2302 - 2300 stoploss 2296
OANDA:XAUUSD
by TVS-Trader
Gold trend broken, extending the downtrendGold prices fell for the second day in a row amid the Fed's hawkish outlook. The Fed's September interest rate cut is still on the table, which limits USD gains. Persistent geopolitical tensions contribute to limiting the rapid slide in gold prices. The greenback followed US Treasury yields higher in the second half of Tuesday's trading session, ahead of hawkish comments from the US Federal Reserve Governor. The uptrend line of the short-term trend has been broken and a new support price at 2312 has just been formed. The relative strength index (RSI) maintains its position below 50, proving that the downward trend in Gold prices is still continuing. In addition, the EMA 34 has begun to cross the EMA 89, in line with the main trend of the market. If sellers muster strength, initial support will be at 2,306 and the decline could extend to the bottom of 2,290 three weeks ago. In the opposite direction, Gold price needs to regain strength when it needs to close the daily candle above 2335 and also above the two moving averages EMA 34 and EMA 89 to return to the long-term upward trajectory. Level 2343 will become an important technical resistance hook for gold today. Support: 2306 - 2291 Resistance: 2328 - 2343 🕯Trading signals 🔼BUY GOLD scalping zone 2306-2304 Stoploss 2301 🔼BUY GOLD zone 2291-2289 Stoploss 2286 🔽SELL GOLD scalping 2328-2330 Stoploss 2333 🔽SELL GOLD zone 2343-2345 Stoploss 2348 ⚡️Psychology, discipline and capital management are the three factors that make victory possible.⚡️
OANDA:XAUUSD
by TVS-Trader
GOLD - Short trade forecast / Sell trade opportunity !Hello Traders! I am looking for a short trade from the supply & OB resistance zone. I expect to see a 50% retracement which could be turned into a 2R profit target. Keep in touch and all eyes are on the next move 👀 Please LIKE 👍, FOLLOW ✅, SHARE 🙌, and COMMENT ✍ if you enjoy this idea! Also, share your ideas and charts in the comments section below! This is the best way to keep it relevant, support us, keep the content here free, and allow the idea to reach as many people as possible. www.tradingview.com
TVC:GOLDShort
by GoodTradeST
Investors eagerly await US PCE data✔️Gold prices attracted some selling during the Asian session on Friday and partially reversed the previous day's nice recovery from more than two-week lows. The US dollar (USD) spiked to a new two-month high in the final hour and became the main factor weakening commodities. ✔️That said, expectations that the Federal Reserve (Fed) will begin cutting interest rates later this year provide some support for the precious metal. Additionally, geopolitical tensions in the Middle East and lingering tensions between Russia and Ukraine act as drivers for the safe-haven XAU/USD. ✔️Investors also appear reluctant to bet on the upside and prefer to wait on the sidelines ahead of the release of the US Personal Consumption Price Index (PCE) at the end of the first North American trading session. Important inflation data will influence market expectations of the Fed's future policy decisions, which, in turn, will help determine the next leg of the directional move for Gold prices. profit. ✔️From a technical perspective, gold's positive move has been resisted at the price range of 2,330 points, EMA 89 of the h4 frame and EMA 34 in the long-term uptrend of frame D. The above barrier is currently anchored near the 2,336- 2,338, will now serve as an important pivotal point. Sustained strength beyond that is likely to push Gold prices back into the $2,360-$2,365 supply zone. Some follow-through buying should negate any near-term negative trend and allow bulls to reclaim the $2,400 round mark. ✔️On the downside, the 2300 and 2295 round harbor support marks are likely to protect the decline just ahead of the $2,285 horizontal support. A convincing break below the 2285 handle would be seen as a fresh trigger for traders to bearish on gold to the deeper 2268 zone. Support: 2310 - 2300 - 2295 - 2285 - 2268 Resistance: 2328 - 2336 - 2344 - 2355 BUY price range 2312 - 2310 stoploss 2307 SELL price range 2335 - 2337 stoploss 2340 BUY price range 2286 - 2384 stoploss 2281 SELL price range 2354-2356 stoploss 2359
OANDA:XAUUSD
by TVS-Trader
1
Gold analysis (June 24) How is GOLD after the sharp decline ?📌On Friday, when data released by S&P Global showed that the US PMI data for June was generally better than expected, the US Dollar strengthened and spot gold plummeted more than 38 USD. U.S. business activity hit a 26-month high in June amid a recovery in employment and a significant reduction in price pressures. The FED emphasized that more evidence of cooling inflation is needed before cutting interest rates. These statements supported the trend of the US Dollar during the week. 📌Notable economic data and events next week Tuesday: US consumer confidence index Wednesday: US new home sales index Thursday: Final Q1 GDP, weekly jobless claims, core durable goods, US pending home sales index Friday: PCE price index, personal income and spending 📌On the h2 chart, after gold could not break the 2370 resistance zone to reach 2385, gold fell to 2320 after positive economic data from the US. Strong selling pressure brought gold prices back to a very important position. The important thing for the uptrend is that the rising trendline continues to be maintained. 📌In terms of closing position, gold has conditions to continue to decline with a target level that could target the original price point of 2,300 USD in the short term if gold has a nice recovery to the important fibonacci areas around 2336 or 2343. In the opposite direction, gold can still maintain an uptrend if this support level of 2320 still holds and supports gold prices trading above 2343. 📌The overall technical picture is constantly changing with very large price movements occurring regularly, and currently technical conditions are more supportive of the bearish possibility although there is still support in the pipeline. short term mentioned above. Support: 2316 - 2311- 2300 Resistance: 2323 - 2337 - 2346 SELL zone 2335 - 2337 stoploss 2340 SELL zone 2346 - 2348 stoploss 2351 BUY zone 2311 - 2309 stoploss 2306 BUY zone 2302 - 2300 stoploss 2297
OANDA:XAUUSD
by TVS-Trader
Bears are dominating the entire market☘️Gold prices hovered in a range just below the $2,300 mark during Thursday's Asian session and consolidated recent declines to a near two-week low touched the previous day. The Federal Reserve (Fed) has adopted a more hawkish stance and expects just one rate cut in 2024 at the end of its June policy meeting. Hawkish outlook for bond rate hike US Treasuries to a two-week high and the US Dollar (USD) to its highest since early May, are therefore seen as a drag on the unyielding yellow metal . Persistent geopolitical tensions and political instability, however, have provided some support for XAU/USD. The bears also seem reluctant to bet aggressively and prefer to wait for the release of the key US Personal Consumption Expenditures (PCE) Price Index on Friday. Meanwhile, Thursday's US economic data could create short-term opportunities later in the US session. ☘️From a technical perspective, the recent failure to build momentum above the 2334 resistance zone has caused sellers to push gold prices lower than 2300. Furthermore, the break of the uptrend line support Short-term decline near the $2,314 area has confirmed the negative short-term outlook. The downward pull on gold prices is strong, some subsequent selling below the horizontal support level of 2,285 USD is likely to drag Gold prices back to 2265. ☘️On the downside, any recovery attempt now appears to face resistance near the $2,312-2,314 support stop. Today the main resistance and price range of gold is around 2320-2322 with the resistance of the moving average EMA 34 and EMA 89 converging with gold's sharply falling break out point. The next upward move could lift the Gold price back to the 2,365 supply zone or back to the peak of 2,400. Gold first needs to close the daily candle above 2,334. Support: 2290 - 2286 - 2270 Resistance: 2311 - 2321 - 2334 SELL price range 23011 - 2303 Stoploss 2316 BUY price range 2291 - 2289 Stoploss 2286 BUY price range 2271 - 2269 stoploss 2265 SELL price range 2320 - 2322 stoploss 2325
OANDA:XAUUSD
by TVS-Trader
Gold Gains Momentum Around $2,319 in European SessionGold attracts buyers around the $2,319 mark during Monday’s European session, aligning with the 61.8% Fibonacci level. This confluence area presents a potential pullback zone, especially with the Relative Strength Index (RSI) indicating oversold conditions. US Bond Yields and Federal Reserve Speculation The decline in US bond yields further supports gold's bullish sentiment. Speculation is strong that the Federal Reserve (Fed) will implement two rate cuts this year. Expectations for these cuts have been bolstered by easing inflationary pressures in the United States. Consequently, the 10-year US Treasury yields have dropped to near 4.25% on Monday. Comprehensive Market Analysis Examining the Commitment of Traders (COT) report, technical analysis, and fundamental factors, we observe a strong case for a continued bullish trend in gold. The technical indicators, combined with favorable market fundamentals, suggest that gold's upward momentum is likely to persist. In conclusion, the convergence of these technical and fundamental factors points to a bullish continuation for gold, making it an attractive asset in the current market environment.
OANDA:XAUUSDLong
by FOREXN1
1
EURUSD analysis week 27📌EUR/USD continued to slide to Friday's lows, falling to 1.0670 before recovering to 1.0700 during the US market session. Political pressure is weighing on the Euro after a major change in European voter sentiment. 📌On the US side, increasingly negative data is raising concerns about a possible recession, fueled by the results of the University of Michigan (UoM) consumer sentiment survey. worse than expected. 📌The currency pair is trading far away from the EMA 34 and EMA 89, showing that there has been instability in the pair over the past week. The downtrend is clearly established as the key support zone of 1,073 was broken and created a bearish Dow pattern. The pair's narrow trading range was formed at 1,070 and 1,076. When the market fluctuates strongly due to news of important resistance and support areas next week, investors can pay attention to the port areas of 1,061 and 1,080. Trading signals BUY EURUSD zone 1.06200-1.06000 SL 1.065800 SELL EURUSD zone 1.08000-1.08200 SL 1.08400 Support: 1.062 - 1.070 Resistance: 1.076 - 1.080
by TVS-Trader
Gold analysis week 27The gold market maintained a steady recovery ahead of the weekend, but the overall trend remains unclear as US consumer confidence continues to decline and inflation expectations remain high. The new divergence between the Fed's interest rate forecast and market expectations could bring some volatility to the gold market in the short term. China is the main driving force behind the increase in gold prices over the past year, and China's gold purchases have only been assessed as temporary and there has not been any move to show that they have "stopped". could also be a move to avoid paying a record high purchase price. The market will get some preliminary and regional manufacturing data as well as some US housing data next week. Gold has recovered from the support level of 2,305 - 2,300 USD but in general the recovery momentum is still limited and the downtrend has not been broken yet. The recovery momentum of gold price is limited by the confluence area of ​​technical point 2,340 in the trendline area which is also the nearest peak, followed by resistance level 2355 where gold breaks the bullish structure, As long as gold remains below the 34 EMA and 89 EMA, the technical outlook for gold prices remains bearish, while if gold breaks below $2,324 it will have room for more downside with the following target level. That's around $2,305 - $2,300 in the short term. A new bearish cycle is expected to open once gold breaks below the original price of $2,300, and the target level is then 2286 and then 2270. Support: 2,324 – 2,305 – 2,300 - 2286 Resistance: 2,340 – 2,355
OANDA:XAUUSD
by TVS-Trader
1
GOLD Finds Support at Key Fibonacci Level, Eyeing Further GainsGold gains traction and trades around $2,321 in the latter half of Thursday, buoyed by a drop in the benchmark 10-year US Treasury bond yield, which fell more than 1% on the day to below 4.3% following disappointing US economic data. This decline in bond yields provides support for XAU/USD. The price action in gold demonstrated a strong rejection from a minor structural level, specifically at the 61.88% Fibonacci retracement level. This rejection was accompanied by a divergence on the H4 timeframe, indicating potential upward momentum as it moved into a demand area or support zone. Our analysis remains consistent with our previous outlook, maintaining a bullish bias and looking for a long setup. From a technical standpoint, this divergence on the H4 timeframe suggests a potential reversal, aligning with our strategy to capitalize on the expected upward movement. The demand area around the 61.88% Fibonacci retracement level has proven to be a significant support zone, reinforcing our confidence in a bullish setup. Moreover, the broader macroeconomic environment supports this bullish perspective on gold. The recent disappointing US economic data has dampened expectations for aggressive monetary tightening by the Federal Reserve. As a result, lower yields tend to make non-yielding assets like gold more attractive to investors. This dynamic is likely to persist in the near term, providing a favorable backdrop for gold prices. Given these technical and fundamental factors, we are poised to take advantage of the anticipated upward movement in gold. Our strategy involves setting up long positions at current levels, targeting further gains as market conditions continue to evolve. This approach is reinforced by the technical signals observed on the H4 timeframe and the supportive macroeconomic backdrop. In summary, gold's current price action, supported by a decline in US Treasury yields and strong technical indicators, presents a compelling case for a bullish setup. As we monitor the market for further developments, our focus remains on capitalizing on this anticipated upward trajectory, maintaining our long positions and adjusting our strategy as needed based on evolving market conditions.
OANDA:XAUUSDLong
by FOREXN1
3
Interest rates are supported, Gold weakensGold increased for the second consecutive trading day, the gold price once reached 2,320 USD. The market will receive the Federal Reserve's interest rate decision and US CPI data, which is expected to explode the market. US CPI Data and Federal Reserve Decision Coming Soon. US May CPI data will be released a few hours before the Fed decision. If inflation stays stable, that could allow the dollar to start to gain traction first. Fed shows policymakers expect policy rate cuts by a total of 75 basis points in 2024. An upward revision is possible as most policymakers say that they are in no rush to start reducing borrowing costs. Today is a very important trading day because it is directional from big data such as CPI and FOMC events, first gold and dollar will be affected by CPI data and then FOMC. If CPI data is better, this will boost the US Dollar but then if the FOMC shows the prospect of a rate cut then this will boost gold prices. Up to now, after the NF data was announced, the gold market has formed a short-term downtrend. and the recovery to form the DOW model is taking place quite perfectly in the h4 time frame. The recovery could reach the 34 EMA or higher the 89 EMA of the h4 frame with two notable resistance levels at 2325 and 2338. The Fed is likely to keep interest rates unchanged in June after today's meeting so The dollar will be strongly supported at least in the next 2 months. The market's downtrend could take gold to 2387 or deeper than the 2376 support level. During trading periods with a lot of macro data and major events, sudden large price movements can completely disrupt any technical structure. At times when major events take place, technical analysis is no longer available, the market will depend on basic factors such as: Geopolitical developments, monetary policy, macro data. tissue,….
OANDA:XAUUSD
by TVS-Trader
rebounded strongly after reaching a level lower than 2300Gold for delivery closed down more than 20 USD on Thursday, fell below the 2,300 USD/ounce mark, and recovered slightly in the European session on Friday to 2,314. Despite weak US PPI, gold prices still fell sharply as the Federal Reserve forecasted only one interest rate cut this year. In addition, a stronger US Dollar also affects gold prices. The Federal Reserve on Wednesday kept interest rates steady despite improving inflation and forecast only one rate cut in 2024, due to Economic growth and the unemployment rate remain above what the Fed considers long-term sustainable levels. High interest rates increase the opportunity cost of holding gold, making it less attractive compared to other assets in the market, especially the dollar. Markets are still assessing the Fed's future monetary policy path. The Federal Reserve announced Wednesday that it would leave interest rates unchanged and signaled that there would be only one rate cut in 2024. In March, the Fed had expected three rate cuts in this year. Before Thursday's PPI data was released, the May Consumer Price Index (CPI) released by the US Department of Labor on Wednesday also showed that inflation had generally cooled, creating momentum for gold to surge. up 1% that day. However, after the Federal Reserve issued hawkish comments, spot gold prices reversed the basic trend. Technical analysis of gold price Gold has dropped significantly since reaching the key resistance area around $2,340 – $2,345 which is the confluence of the 0.618 Fibonacci retracement, the $2,345 horizontal resistance and the 21 EMA. Gold fell back to operating around the 2,305 - 2,300 USD area to maintain the main downtrend from the price channel. In the short term, the raw price level of $2,300 will be the closest support and if gold continues to break below this technical level it will open up the possibility of continuing towards the target at $2,286. Even if gold recovers, during the day it will still be limited by the $2,324 level, its technical direction will still lean to the downside. Support: 2305 - 2291 - 2286 - 2280- 2274 Resistance: 2316 - 2321 - 2325 - 2333 - 2338 SELL price range 2319 - 2321 stoploss 2325 BUY price range 2270 - 2268 stoploss 2264
OANDA:XAUUSD
by TVS-Trader
Attention price range before FOMCGold dropped from peak to 2,340 USD before Fed information After CPI rose to a three-day high past the $2,340/troy ounce mark, gold prices now appear to have digested that initial move and returned some gains amid a weaker dollar and Yields fell ahead of the FOMC event later in the session. The 2340 level is unlikely to hold before the FOMC. The 2352 resistance zone will be better for you if you want to SELL gold. Today it is predicted that the FOMC will continue to support the dollar, so the possibility of gold falling will be very high. Scalp support may be around the old bottom of 2390
OANDA:XAUUSD
by TVS-Trader
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