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GOLD 08/06 - Bulls defend the price zone 1935The value of the dollar index has decreased, resulting in a lower price for gold for those who hold other currencies. Investors are closely monitoring the upcoming Fed meeting and the US consumer prices report for May through June 13 to gain a better understanding of the state of the economy. There has been mixed economic data along with dovish comments from Fed officials. Gold is currently facing resistance at the 1940-1935 level, but the bulls are trying to gain momentum to push it up. However, the bears are determined to keep the price below 1955.
OANDA:XAUUSDShort
by DNA_TradingFX
22
GOLD - Moving sideways in a narrow rangeThis week, the value of gold received a boost due to weak economic data in the US, which caused the dollar to decline. This led to speculation that the Federal Reserve may not raise interest rates further. However, this support is limited as the dollar is expected to recover due to uncertainty about the Fed's next move. Although some areas of the US economy are slowing down, inflation and the job market remain strong, which puts pressure on the central bank to tighten policy. Currently, the price range for gold is between 1966-1952, with a narrow band. Traders can operate within this range during the Eurasian session. It is important to manage your volume and stop-loss immediately during periods of strong market fluctuations. And today, I will wait for the SELL to continue in the upper regions around 1970. And target at 1950 - 1945. Then BUY order will be set
OANDA:XAUUSDShort
by DNA_TradingFX
24
New week GOLD - Is the 1900 target still far away?The outlook for gold is becoming more negative due to a few reasons, including US interest payments gaining momentum and a recent payrolls report indicating a strong economy. The strength of the economy and labor market could slow down usage and bring it back to the 2.0% target, which may require the FOMC to increase the closing rate and keep it high for a longer period of time to maintain price stability. Despite attempts by the bulls to maintain mid-term gains, there is a possibility that the trend could shift negatively if the price falls below $1,940, encouraging those who are making excellent progress to attack the $1,900 target. Before that happens, I anticipate that gold will undergo a short-term test of the 1965 and 1975 areas, enabling us to develop a sound selling strategy.
OANDA:XAUUSDShort
by DNA_TradingFX
31
GOLD with ADP - The rising wave is expectedGold prices were supported by a weaker dollar in the midst of a wary market atmosphere, with nonfarm payrolls data slated for a later release. Additionally, JOLTS Job Openings report had a significant impact on gold prices. Despite this, the US economy shows promise for recovery due to strong retail sales, industrial production, and adjusted GDP figures. Yesterday, gold experienced a rally as the market processed news on the US debt ceiling and favorable economic data. Currently, gold is striving to reach the 1984 price level in the near future. Based on technical analysis, gold is undergoing a corrective wave labeled a,b,c, and the target for this wave is also set at 1984. It is anticipated that this target will be met.
FOREXCOM:XAUUSDLong
by DNA_TradingFX
23
Gold this week, bearish Dow setup!Additionally, concerns about a potential U.S. debt default further affected the market. The rise in interest rates negatively impacts non-yielding assets such as gold, as it increases the opportunity cost of holding them. The Fed's approach to rate hikes is based on data, and with inflation rising, they may consider further hikes. Economic risks from a possible default are also reduced, giving the central bank more leeway to increase interest rates, indicating a bleak outlook for gold in the short term. Gold is currently experiencing a minor increase in value and is expected to hover around the price range of 1955-1960 before heading back down. The projected target for this week is a decrease in value, with Gold returning to the price zones of 1935-1930 and 1925.
OANDA:XAUUSDShort
by DNA_TradingFX
10
XAUUSD - Choose SELL for todayGold price fell below the support of $1936.00 during Asian trading, after slipping beneath the $1952.00 cushion due to the US economy's approaching default. Technical indicators suggest a downside risk in the daily chart. The US Dollar found support due to positive macroeconomic data and the gloomy market mood. The currency remains strong, while the stock market ignores concerns about the US debt ceiling limit. Today, Gold is returning to retest the price zone around 1953$ before continuing its fall. The nearest target is back to 1935$ -1930$ I still choose the SELL beat for today. The previous Break Out and BUY strategy for GDP news is about to be completed.
OANDA:XAUUSDShort
by DNA_TradingFX
14
GOLD - The bulls are gradually regaining their positionGold prices have been trading in a narrow range of $1,950-1,980 for almost a week. This comes after the prices dropped below $2,000 level due to the uncertainty around the US default. Copper prices have hit a six-month low due to weakening demand and global manufacturing activity. The metals market has been under pressure as the US dollar has strengthened, with traders speculating that the Federal Reserve will maintain higher interest rates this year. BUY GOLD zone 1967 - 1965 Stoploss: 1960 Take Profit 1: 1972 Take Profit 2: 1978 Take Profit 3: 1983 Note : TP, SL full to be safe and win the market !
OANDA:XAUUSDLong
by DNA_TradingFX
13