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Gold plummeted after a record riseWorld gold prices decreased slightly with spot gold down 5.1 USD to 2,181 USD/ounce. Gold futures last traded at 2,183.9 USD/ounce, down 5.6 USD compared to yesterday morning. Although almost unchanged compared to yesterday morning, the price of the yellow metal has dropped sharply during the day. On March 21 (US time), gold continuously conquered record highs thanks to the dovish speech of the US Federal Reserve (Fed) at the latest policy meeting. The precious metal hit an all-time high of $2,222.39 per ounce as the Fed signaled it would continue to cut interest rates three times in 2024 despite rising inflation. Despite rising inflation, Fed Chairman Jerome Powell still said that the US Central Bank has the ability to reduce interest rates by three-quarters of a percentage point by the end of 2024. However, the Fed's decision will depend on data. The economy is here. The Fed's stance pushed the dollar to its lowest level in a week, while also causing US 10-year Treasury yields to fall. Meanwhile, gold prices continuously increased. Witnessing strong buying force after the meeting, Reuters technical analyst Wang Tao optimistically predicted that spot gold could retest the resistance level at 2,222 USD/ounce. If this threshold is broken, this precious metal can conquer levels in the range of 2,228 - 2,234 USD/ounce.
OANDA:XAUUSDLong
by FalCol_TradingMaster
GOLD-uptrend The Federal Reserve kept interest rates steady on Wednesday, but policymakers signaled they still expect to cut interest rates by 75 basis points by the end of 2024. Three rate cuts are expected this year, according to the latest median economic forecast, but overall they are down from three months ago. Become more hawkish at one time forecast. Powell said it will soon begin to slow down the pace of reducing its balance sheet. Slowing down the balance sheet may allow the Fed to eventually reduce its holdings of government bonds more than previously expected. Currently, traders believe that the probability of a rate cut in June is 75%, while The probability before the Fed interest rate decision is announced is 60%. What needs attention today are: 20:30 US initial jobless claims for the week to March 16, US fourth quarter current account, US March Philadelphia Fed manufacturing index, 21:45 US March S&P Global Manufacturing Index Initial PMI value: US March S&P Global Services PMI initial value, 22:00 US February total existing home sales annualized, US February Conference Board Leading Indicator monthly rate. Yesterday I thought it rose to 2173-2175 again, and there might be room for growth, but I didn't expect it to rise so much, so we need to be in awe of the market. As long as you follow my thoughts, even if you don't keep up with this rise, You shouldn’t lose money either Today's transaction can only follow the trend. It is now a determined upward trend. The support below can be judged based on the unilateral moving average at 2192 and 2180. Buy near the support. Following my strategy will make your trading easier
FX:XAUUSDLong
by UnknownUnicorn68604160
GOLD-Fed interest rate decision The hot spot in the market today is the Federal Reserve's interest rate decision. Although the market is generally expected to keep interest rates unchanged on Wednesday, the market is waiting for comments from Federal Reserve Chairman Powell after the meeting to understand the Federal Reserve's latest interest rate expectations. The probability of the Fed keeping interest rates unchanged in the range of 5.25%-5.50% in March is 100%, the probability of keeping interest rates unchanged in May is 93.7%, and the probability of keeping interest rates unchanged in June is 40.9%. It is expected to cut interest rates by 25 basis points. The probability is 55.6%, and the probability of a 50 basis point interest rate cut is expected to be 3.6% Gold once again tested the support of 2145 yesterday and did not break the level. Therefore, it failed to get out of the room for a sharp decline. Before major data, I think the market fluctuations will not be too big. The focus is whether it can get out of the 2145-2165 range after the US market. Under the current trend, I have given the above resistance on the chart for your reference. You can choose to sell at the resistance. Before the Federal Reserve interest rate decision is announced, try not to leave any orders. After the news is announced, determine the trend or direction before making effective transactions. Follow my strategies and your success rate will greatly increase
FX:XAUUSDShort
by UnknownUnicorn68604160
#XAUUSD Gold Trading Strategy Reference #XAUUSD The Fed will announce its interest rate decision in two hours. There is a high probability that interest rates will remain unchanged. However, the Fed's announcement of interest rates will be accompanied by market sentiment and the upcoming Powell's speech, which will cause sharp fluctuations in gold prices. Currently we can see the red trendline forming a triangle pattern. Waiting for a breakthrough. This means that new trends will occur after the Fed news. Later price movements will be very wide. 1/White trend line, gold price corrects downward, two price areas where I would trade. 2131-2134/2121-2125. Many people will also pay attention to 2145-2148. I think there is only one possibility for 2148-2145, which is the price stretching behavior when the price goes up, so I will not analyze the transaction as a downward price adjustment. 2/Yellow trend line, gold price adjusts upward. There are many resistance areas, but we give priority to areas with obvious resistance in the early stage. We can try selling transactions in the upper price area 2183-2185 / 2193-2189 The above is my trend analysis for today. When news and market sentiment dominate, technical analysis can only be used as a trading reference. Although the possible price trading ranges are very wide, we can make profits based on these price ranges. You can stop profit after making a profit of 30-60pips. Please set a good stop loss. Good luck with your trading. If you don’t know how to trade, please follow me and give my post a like. I update my analysis almost every day to help everyone make profits. Please join me to receive updates
FX:XAUUSD
by WilliamChloe
Continue sideways waiting for the day to breakWorld gold prices fluctuated little as investors waited for the US Federal Reserve's (FED) policy meeting on March 20 (US time). The meeting is expected to provide more clues about the timing of interest rate cuts this year. Currently, the market is almost certain that the FED will keep interest rates unchanged at this meeting. What investors are waiting for are updated economic forecasts and interest rates from policymakers. Chief market analyst Tim Waterer of KCM Trade commented that if the FED focuses on the recently announced US consumer price index (CPI) and producer price index (PPI) and the strength of the market, labor, hopes of loosening monetary policy will be extinguished. In that case, gold could lose that support and fall even deeper. Currently, according to the CME FedWatch tool, traders are currently pricing in about a 51% chance that the Fed will cut interest rates in June, down from 56% on March 18. In addition to the FED, policy meetings of central banks in Japan, England, Australia, Norway, Switzerland, Mexico, Brazil and Indonesia also attracted investors' attention.
OANDA:XAUUSDShort
by FalCol_TradingMaster
GOLD-Today's strategy There are many factors affecting the market this week. Central banks of various countries will be the focus this week. The Bank of Japan and the Reserve Bank of Australia will announce their interest rate decisions on Tuesday, the Federal Reserve will announce their interest rate decisions on Wednesday, and the Bank of England and the Swiss National Bank will announce their interest rate decisions on Thursday. The market will also look at Tuesday's U.S. housing starts and building permits, as well as Thursday's weekly jobless claims, Philadelphia Fed manufacturing survey, PMI preview data and existing home sales Gold trading this week is more focused on the news. On Tuesday, the Bank of Japan made an interest rate decision. This is Japan’s first interest rate hike after more than ten years of negative interest rates. The uncertainty will have a huge impact on the market. On Wednesday, the Federal Reserve’s interest rate decision is likely to be announced by the market. There will be no interest rate cut this time, let alone a rate increase, which will also have a certain impact on the market. Therefore, before discussing this week's market, I would like to remind everyone that this week has both good opportunities and greater risks. Please pay attention. risk control. After gold fell sharply on Tuesday last week, it is basically confirmed that the peak of this rise is currently at 2195. It fluctuated up and down many times on Wednesday, Thursday, and Friday, and tested 2150 many times. Today it finally fell below the 2150 support, although it has not turned into a decline for the time being. trend, but it can be judged that gold’s strong rise has weakened Gold will definitely fluctuate repeatedly. The resistance points in the chart above are for your reference. You can make reasonable arrangements based on your funds.
FX:XAUUSDShort
by UnknownUnicorn66789012
GOLD SELL | Day Trading AnalysisHello Traders, here is the full analysis. I think we can soon see more fall from this range! GOOD LUCK! Great SELL opportunity GOLD I still did my best and this is the most likely count for me at the moment. Support the idea with like and follow my profile TO SEE MORE. Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 🤝 Patience is the If You Have Any Question, Feel Free To Ask 🤗 Just follow chart with idea and analysis and when you are ready come in THE GROVE | VIP GROUP, earn more and safe, wait for the signal at the right moment and make money with us💰
TVC:GOLDShort
by TheGrove
4
Reduced slightly then increased againWorld gold prices increased slightly with spot gold increasing by 3 USD compared to last week's closing level to 2,161 USD/ounce. Gold futures last traded at 2,164.9 USD/ounce, up 1.3 USD compared to yesterday morning. World gold prices recovered slightly after falling to a one-week low on Monday as investors await a series of policy decisions from major global central banks, including the Federal Reserve. US Federal Reserve (Fed). Currently, the market is almost certain the Fed will keep interest rates at 5.25% - 5.5% at its policy meeting on Wednesday. Investors believe that the US Central Bank may reiterate its view of keeping interest rates higher for a longer period of time in the context that inflation is still "persistent". Traders are currently pricing in around a 56% chance that the Fed will cut interest rates in June. Higher rates reduce the appeal of holding non-couponing gold. Data released last week showed US consumer prices rose sharply in February and producer prices rose more than expected amid rising prices of goods such as gasoline and food. Gold lost 1% after the report.
OANDA:XAUUSDShort
by FalCol_TradingMaster
To get back to Gold, we need a decline, entry sell todayGold futures price for delivery in April 2024 on the Comex New York floor decreased by 6 USD, equivalent to a decrease of 0.28%, to 2,161.5 USD/ounce. Information from central banks will take center stage this week, with interest rate decisions due from the Bank of Japan and Reserve Bank of Australia on Monday, the US Federal Reserve on Wednesday, Bank of England and Swiss National Bank on Thursday. Markets will also pay attention to housing starts and building permits in the United States on Tuesday, as well as weekly jobless claims, the Philly Fed manufacturing survey, Flash PMI and existing home sales on Thursday. Given the pace of the breakout and the slowdown at $2200, it looks like gold needs a pullback, and with the Fed on Wednesday, it's reasonable to see some profit-taking beforehand. There are probably a lot of investors who have put in money late and want to take some profits now that the breakout has started to falter, especially with a major mover on the horizon.
OANDA:XAUUSDShort
by FalCol_TradingMaster
GOLD H1 / Potential Small Retracement / Looking for a Long 💡Hello Traders! This is My idea related to Gold H1. The bearish sentiment is still strong for short positions, that's why I will look for a long entry after I see a small retracement. I expect a confirmation of closing a FVG on a smaller timeframe. Traders, if my proposal resonates with you or if you hold a divergent viewpoint regarding this trade, feel free to share your thoughts in the comments. I welcome the opportunity to hear your perspectives. ____________________________________ Follow, like, and comment to see my content: www.tradingview.com
TVC:GOLDLong
by GoodTradeST
Gold continues to go down, entry sell todayWorld gold prices decreased slightly with spot gold down 12.1 USD to 2,161.4 USD/ounce. Gold futures last traded at 2,166.5 USD/ounce, down 14.3 USD compared to yesterday morning. World yellow metal prices reversed and decreased slightly in the trading session on March 14 (US time) when the market received more inflation data that was not as expected. The latest report showed that inflation in the US increased slightly higher than expected, helping the US Dollar Index recover and US Treasury bond yields increase. Accordingly, the producer price index (PPI) increased by 0.6% in February, double the forecast increase of 0.3% over the previous month and the increase of 0.3% in the January report. Previous Meanwhile, in the middle of this week, another report showed that the consumer price index (CPI) increased by 3.2% over the same period last year, higher than experts' forecast of an increase of 3.1%. The core CPI in February increased by 3.8% compared to the expected increase of 3.7%. CPI and PPI data both increased stronger than forecast, fading the prospect that the US Federal Reserve (Fed) will soon cut interest rates. Technically, April gold futures speculators have a solid overall near-term technical advantage. A four-week steep uptrend is underway on the daily bar chart. The bulls' next upside price objective is to produce a close above solid resistance at $2,203 an ounce. Bears' next near-term price objective is to push futures prices below solid technical support at $2,100 an ounce.
OANDA:XAUUSDShort
by FalCol_TradingMaster
GOLD to see a stem dip?XAUUSD - 24h expiry Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible. A lower correction is expected. The primary trend remains bullish. We look to buy dips. Previous support located at 2150.56. We look to Buy at 2153.50 (stop at 2141.50) Our profit targets will be 2183.50 and 2189.50 Resistance: 2176.05 / 2197.45 / 2228.20 Support: 2135.00 / 2102.75 / 2077.40 Risk Disclaimer The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit. You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
OANDA:XAUUSDLong
by OANDA