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Gold price analysis September 8Fundamental Analysis Gold prices eased from a three-day high near $2,430 but held above the key support level of $2,400. The near-term outlook for the precious metal remains solid amid speculation that the Federal Reserve (Fed) will begin cutting interest rates in September. However, investors remain divided on whether the Fed will demonstrate its aggressiveness in its policy normalization by announcing a 50 basis point (bp) rate cut or a 25 bps cut. Technical Analysis Gold prices are in a strong bullish range with a narrow range around 2,418 and 2,434. Prices are trading strongly above the EMA and are poised to make further gains. The resistance levels of 2,454 and 2,404 act as key support and resistance, keeping gold prices steady over the weekend. Resistance: 2432 - 2448 - 2454 Support: 2412 - 2407 - 2396 - 2388 Price ranges to note: SELL scalp price range 2441 - 2443 stoploss 2447 SELL price range 2453 - 2455 stoploss 2459 BUY price range 2407 - 2405 stoploss 2400 BUY price range 2397 - 2395 stoploss 2391
OANDA:XAUUSD
by TVS-Trader
Gold slightly increased on August 8☘️Fundamental Analysis Gold prices gained some positive momentum on Thursday and snapped a four-day losing streak, despite a lack of follow-through and remaining below the $2,400 mark heading into the European session. Meanwhile, the lack of bullish sentiment warrants some caution before positioning for any meaningful upside move, although the fundamental backdrop appears to be tilted heavily in favor of bullish traders. Investors remain concerned about the economic slowdown in China and the possibility of a recession in the United States. This, coupled with escalating geopolitical tensions in the Middle East, will act as a bullish driver for Gold prices. Furthermore, expectations of more rate cuts by the Federal Reserve (Fed) put US Dollar (USD) bulls on the defensive and confirmed the positive outlook for gold prices. ☘️Technical Analysis Gold continues to trade within the price range of 2380 and 2415. Gold needs more catalysts to break out of this price range. On the chart, we can see that the price is clinging to the EMA 34 in a downtrend. To achieve the bullish condition, gold first needs to close the candle above the 2400 area. Pay attention to the price reaction zones to have the best trading strategy. Breakout upper band: 2391 - 2400 - 2406 Breakout lower band: 2381 - 2375 - 2365 Resistance: 2397 - 2400 - 2406 - 2420 Support: 2381 - 2375 - 2370 - 2365 - 2352 - 2345 SELL zone 2405 - 2407 stoploss 2411 SELL zone 2420 - 2422 stoploss 2426 BUY zone 2373 - 2371 stoploss 2367 BUY zone 2347 - 2345 stoploss 2341
OANDA:XAUUSD
by TVS-Trader
Gold (08/07) Wide trading range in a week without important news☘️Fundamental Analysis Gold prices attracted some dip buyers near the $2,379-$2,378 region on Wednesday and rose to fresh daily highs heading into the European session. Weaker economic data from the United States in the coming weeks suggested that the world’s largest economy is slowing faster than initially expected. This, in turn, fueled speculations of more rate cuts by the Federal Reserve (Fed), acting as a boost for the non-yielding yellow metal. In addition, concerns over an economic slowdown in China and the risk of escalating geopolitical tensions in the Middle East also provided additional support for safe-haven gold. However, strong demand for the US dollar (USD), fueled by a further recovery in US Treasury yields, coupled with a generally positive risk sentiment, could keep a lid on any meaningful upside move for XAU/USD. ☘️Technical Analysis There is not much important news this week so gold is trading in a wide sideway range. The two EMA lines are still showing that the sellers are dominating the market. The RSI in the short-term frame also wants to show that the recovery of gold is being limited by the RSI 50 level. In short-term time frames such as h1 h4, gold is in a downtrend and is ready for deeper pullbacks to the support zone of 2370-2355. The important level in the sideway range will be around 2415, the peak that gold reached yesterday. Breaking the level will form a new structure for the market. On days when there is no news that has a big impact on the market, we can identify price range zones to trade. Support: 2386 - 2381 - 2375 - 2366 Resistance: 2405 - 2415 - 2426 - 2430 ☘️Trading signals SELL zone 2414 - 2416 stoploss 2420 SELL zone 2428 - 2430 stoploss 2434 BUY zone 2365 - 2367 stoploss 2361 BUY zone 2347 - 2345 stoploss 2341
OANDA:XAUUSD
by TVS-Trader
AUDUSD trading scalpingAustralian Dollar declines due to increased risk aversion, awaits US Services PMI The Australian Dollar declines following the soft Purchasing Managers Index data release on Monday. Australia Composite PMI fell to 49.9 in July from 50.2 in June, with Services PMI decreasing to 50.4 from 51.8. The US Dollar lost ground as recent downbeat employment data boosted expectations of a Fed rate cut in September. BUY AUDUSD now zone 0.64300-0.64100 ↠  Stoploss 0.63900 → Take Profit 1 0.64600 → Take Profit 2 0.65300
by TVS-Trader
GBPUSD scalping signalsGBP/USD: Bulls push to test the 1.2840 resistance Instead of continuing to rise, the Pound Sterling (GBP) is more likely to trade in a range between 1.2740 and 1.2840. Downward momentum has slowed; any further GBP weakness is likely limited to a retest of the 1.2710 level, UOB Group FX analysts Quek Ser Leang and Lee Sue Ann note. SELL Scalping zone SELL GBPUSD now zone 1.28000-1.28200 ↠  Stoploss 1.28400 → Take Profit 1 1.27700 → Take Profit 2 1.27000 Good luck everyone
by TVS-Trader
Gold fluctuations in the new weekFundamental Analysis: Gold (XAU/USD) gained traction on Monday as the greenback weakened. The market is still digesting the dovish FOMC and a weaker US jobs report. Meanwhile, US Treasury yields and the US dollar (USD) are likely to remain under pressure, acting as a bullish driver for the yellow metal. Additionally, rising geopolitical tensions in the Middle East could continue to support traditional safe-haven assets like Gold. Looking ahead, Gold traders will be watching the US ISM Services Purchasing Managers’ Index (PMI) on Monday for fresh catalysts. The Services PMI is estimated to improve to 51.0 in July from 48.8 in June. In case the data is stronger than expected, the USD could rise and limit the upside in the precious metal. Technical Analysis: Gold after NF formed a fairly wide trading range. An upward price range was formed with the price range of 2475 and 2420. The h2 time frame gives an overview of the short-term fluctuations of gold during the day. The 2411 area on Friday formed a critical zone around it with a reaction of 30 prices. so it became a strong reaction zone when gold broke out of the price channel. Resistance: 2466 - 2475 - 2480 - 2491 - 2502 Support: 2423 - 2412 - 2405 - 2394 - 2385 SELL GOLD 2465 - 2467 Stoploss 2471 BUY GOLD 2415 - 2413 Stoploss 2408
OANDA:XAUUSD
by TVS-Trader
EURUSD Analysis week 32Fundamental Analysis EUR/USD gained on Friday after the Greenback was weakened by the poor US Non-Farm Payrolls (NFP) data. With the US economic data turning sour, investors extended their losses for two days on growing concerns about a broader recession in the domestic US economy, triggering a flight from risk assets and sending equity indices sharply lower. Next week, the US will see the ISM Manufacturing Purchasing Managers’ Index (PMI) for July on Monday. Euro-wide retail sales for the year ending June are scheduled for release early Tuesday. This will give us a clearer picture of the current stage of the currency market. Technical Analysis GBPUSD formed a wide range after the NF release with the nearest support resistance in the range of 1.094 and 1.082. On the H4 timeframe, EMA 34 is looking to surpass EMA 89 to escape the short-term downtrend of the past week. Specifically, it proves that the price line has broken out of the downtrend line. The uptrend may face the highest resistance at 1.098 when the price breaks out of the immediate resistance at 1.094. On the other hand, recovery is necessary in an uptrend. The price trend may retest the broken trend zone around 1.083 after some investors take profit. If the downtrend is established, the strong support zone next week will be 1.075. Resistance: 1.094-1.098 Support: 1.083-1.075 Trading Signals BUY EURUSD zone 1.075-1.073 Stoploss 1.071 SELL GBPUSD zone 1.098-1.100 Stoploss 1.102
by TVS-Trader
Gold August 2. Approaching all-time high🌿Fundamental Analysis Gold prices showed absolute strength in the European session on Friday ahead of the US Non-Farm Payrolls (NFP) data for July. The official jobs data will indicate the current state of the labor market, which will influence market speculation about the US Federal Reserve (Fed) cutting interest rates in September. Investors will also focus on Average Hourly Earnings data, a key measure of wage growth that boosts consumer spending and ultimately drives price pressures. Meanwhile, the deepening risk of an all-out war between Iran and Israel has improved Gold’s appeal as a safe haven. Iran has vowed to retaliate for the assassination of Hamas leader Ismail Haniyeh with an Israeli airstrike in Tehran. 🌿Technical Analysis In terms of Elliot wave, Gold may have formed wave 5 and is trading in an abc recovery wave. or a recovery could occur after Nonfarm pushing gold prices to the 2442-2430-2422 support zone to continue to return to wave 5 to break the all-time high. The 14-day relative strength index (RSI) is rising to near 60.00. If RSI rises above that level, the momentum will continue to increase strongly. We will wait for recovery waves to buy gold today, or look for resistance zones to catch the recovery wave. SELL zone 2472 - 2474 SL 2478 SELL zone 2482-2484 SL 2487 BUY zone 2433 - 2431 SL 2427 BUY zone 2422 - 2420 SL 2416
OANDA:XAUUSD
by TVS-Trader
GOLD (XAU)Gold broke its down trend at 1680 and It was a great opportunity for longing and now we heading to 1815 XAU continues to push higher and trades above $1,770 for the first time in nearly three months on Friday. The US Dollar stays under heavy bearish pressure as investors cheer the soft US inflation report and heightened optimism about Chine easing coronavirus restrictions. The Consumer Price Index in the United States rose 7.7% YoY, down from 8.2% in September and clearly below the 8.0% consensus forecast. The CPI accelerated by only 0.4% on the month, down from 0.6% in September and core figures rose 0.3%, rather than the 0.5% expected. The highly anticipated economic release from the United States triggered a massive risk rally on increased expectations of a smaller rate hike by the US Federal Reserve in December. Markets now price roughly an 81% probability of a 50 bps December Fed rate hike vs. odds of about 55% at the start of the week.The US Dollar was heavily sold off into the softer US Consumer Price Index release, propping up Gold price to the best levels unseen since August 26. At the time of writing, the American Dollar is reeling from Thursday’s massive blow, allowing Gold bulls to take a breather
TVC:GOLDLong
by moonypto
2
Gold retraces to Fibonacci 0.5Fundamental Analysis Gold (XAU/USD) fell sharply to the $2,371 level as geopolitical risks overshadowed market attention to the Federal Reserve's meeting this Wednesday. Personal Consumption Expenditures (PCE) Price Index data for June, released on Friday, showed inflation remained steady, close to the Fed's 2% target. However, investors still expect the Fed to start its easing cycle in September and could provide a clearer signal after this week's meeting. On Tuesday, the JOLT Jobs Openings and the Conference Board Consumer Sentiment Index for June and July are expected to show moderate declines, increasing the likelihood of a Fed rate cut in September. Technical Analysis XAU/USD’s recovery from last week’s lows around $2,350 has met stiff resistance at $2,400. This is a key resistance zone as the 100-period Simple Moving Average (SMA) on the 4-hour chart has met resistance from the downtrend since the July 17 high. However, downside efforts have been limited so far. The intraday RSI shows moderate positive momentum, with $2,380 still holding the downtrend. If the price breaks below this level, the next target would be the July 25 low at $2,350. Conversely, if the price breaks above $2,400, the broader bearish structure will be broken and the next target will be $2,430.
OANDA:XAUUSD
by TVS-Trader
2
Waiting for recovery to buy✨Fundamental Analysis Gold prices extended gains and traded near the psychological 2400 level. The US Personal Consumption Expenditures (PCE) price index data released on Friday showed a modest increase in inflation in June and raised expectations of the imminent start of the Federal Reserve's (Fed) interest rate cutting cycle. This led to further declines in US Treasury yields, which also supported gold prices. Traders also preferred to wait for the outcome of the two-day Federal Open Market Committee (FOMC) meeting on Wednesday. This, along with important US macroeconomic data scheduled at the beginning of the new month, including the Non-Farm Payrolls (NFP) report, will provide fresh impetus to gold. ✨Technical Analysis Buyers are struggling to capitalize on the bullishness in the European session to push gold towards the 2,400 level. Meanwhile, the momentum above the $2,400 round figure is likely to face some resistance near the 2,408 area, around the $2,432 area. On the other side. The immediate support that gold receives is around the 2,382-2,380 level. Weakness below $2,380 may be more unlikely to push the price back to the breakout zone, currently anchored near the $2,360-2,359 area. The bullish trend is preferred by investors and they are waiting for a nice retest to get a BUY signal in line with the main trend of the market. Resistance: 2408 - 2431 Support: 2382 - 2365 SELL price range 2408-2410 Stoploss 2413 BUY price range 2380 - 2382 stoploss 2377
CITYINDEX:XAUUSD
by TVS-Trader
Gold is supported to increase☘️Fundamental Analysis: Gold prices are rising above $2,420 on Wednesday, reversing an intraday decline to $2,400. Israel’s attack on the Lebanese capital in retaliation for a rocket attack in the Golan Heights on Saturday has raised the risk of further escalation of geopolitical tensions in the Middle East. In addition, the outlook for sluggish global economic growth and the further retreat of the US Dollar (USD) from a near three-week high hit on Tuesday are in the gold’s favor. However, bulls may refrain from placing aggressive bets and prefer to wait for further signals on the Federal Reserve’s (Fed) interest rate cut path. Therefore, the focus will remain on the outcome of the two-day Federal Open Market Committee (FOMC) meeting, scheduled to take place later today. This, along with geopolitical developments, will determine the trajectory for gold. ☘️Technical Analysis: From a technical perspective, the recent rebound from the vicinity of $2,350 or the 50-day Simple Moving Average (SMA) support and the subsequent move above $2,400 favors bullish traders. Moreover, the oscillators on the daily chart have started to gain positive traction and support the further upside outlook. Moreover, the strength to break above the $2,412-2,413 zone reaffirms the positive outlook and would now lift Gold prices towards last week’s high around $2,432. Sustained strength to break above the latter zone would suggest that the corrective decline from the all-time high reached earlier this month is over. On the other hand, the $2,400 mark now looks to protect the immediate downside ahead of the $2,388-2,390 zone below which gold could slide back to the 50-day SMA, currently anchored near the $2,359 zone. A convincing break through the latter zone, leading to a further decline below last week’s low, around the $2,353 zone, would be seen as a fresh trigger for bearish traders and leave XAU/USD vulnerable. Resistance: 2429 - 2433 - 2459 Support: 2400 - 2392 - 2388 SELL price zone 2431 - 2433 stoploss 2437 BUY price zone 2391 - 2389 stoploss 2385 BUY scalp price zone 2399 - 2397 stoploss 2394
OANDA:XAUUSD
by TVS-Trader
EURUSD Analysis week 31🌐Fundamental Analysis After recovering to 1.0870 early Thursday, EUR/USD lost momentum and closed the trading day almost unchanged at just higher 1.0850 as the US Dollar (USD) benefited from upbeat data releases. Although risk sentiment appeared to be improving early Friday, the Euro struggled to attract buyers. Next week, the key EU-wide Harmonized Consumer Price Index (HICP) inflation figures will drop on Wednesday, giving investors a clear picture of when they can expect the ECB to cut interest rates next after policymakers cut by 25 basis points in June. EU-wide HICP inflation for the year ending July is expected to have eased to 2.3% from 2.5% YoY. On the US side, the Fed will also deliver its latest rate call, which is expected on Wednesday. The US central bank is widely expected to keep rates on hold in July, but investors will be watching for any major changes in policy makers’ rhetoric. Next Friday will also see the US Non-Farm Payrolls, a key data point for pricing in the possibility of a September rate hike. 🕯Technical Analysis: EURUSD remains in an uptrend, with a clear formation of wave 5 of the Elliot Wave pattern with technical support at 1.085-1.083. In the event of a completed wave 5, the pair could top around 1.100. EURUSD is hesitating around the EMA 34 and EMA 89, although showing an uptrend, the narrowing of the EMAs also increases the possibility of a trend reversal. RSI is trading below 50 but still above the 14-day moving average. This shows that investors are hesitant to choose sides at the moment. The upside is still in favor of investors who prefer wave trading. The support level of 1.084 is the key zone that determines the trend of the currency pair. If the structure is broken to move to the lower support zone, 1.077 will be the immediate area to play a role. On the other side, the first price reaction can be considered at the top resistance of 1.095, the highest level can be 1.100, the end of the wave pattern can be at Fibonacci 1.272 Resistance: 1.095-1.100 Support: 1.283-1.276 📈Trading signals📉 SELL GBPUSD zone 1.100-1.102 Stoploss 1.104 BUY GBPUSD zone 1.076-1.274 Stoploss 1.272
by TVS-Trader