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XAUUSD : How will gold fluctuate in 2024 ?Gold has had wild swings in 2023, rising about 15% from the beginning of the year to May, then falling 13% in October before rising nearly 19% to create a record high in early December. Currently, there are many factors that may affect and cause gold prices to continue to increase in Q1, 2024. Weakness of the USD Gold has an inverse relationship with US government bond yields as well as the US dollar. Therefore, when interest rates fall and the dollar weakens, precious metals often increase in price as the opportunity cost of holding gold decreases. Although the Fed has not yet ruled out another rate hike, the market has already decided that interest rates will fall next year. This is shown by the sharp decrease in government bond yields and the USD. Therefore, even in the absence of fresh bullish momentum, the USD downtrend should still keep XAU/USD supported. From a technical perspective, the outlook for gold's price increase is still quite complicated after gold increased sharply at the end of the year, making the current Risk-Reward ratio not too impressive. Therefore, gold is likely to correct slightly before continuing its current bullish structure, with the first level of support located around the $2,010 area, beyond that at the $1,956 threshold. On the upside, current resistance levels lie at $2,075 and if bullish momentum increases gold prices could return to the record high of $2,146.79.
CITYINDEX:XAUUSDShort
by SantaTradeGold
NIO If you haven`t sold NIO at this crazy valuation: or after the BMW comparision: or reentered before the breakout: Then analyzing the options chain and the chart patterns of NIO prior to the earnings report this week, I would consider purchasing the 7usd strike price at the money Calls with an expiration date of 2023-12-15, for a premium of approximately $0.47. If these options prove to be profitable prior to the earnings release, I would sell at least half of them. Looking forward to read your opinion about it.
NYSE:NIOLong
by TopgOptions
BIDU Baidu Options Ahead of EarningsIf you haven`t sold BIDU`s top: nor the previous ER: Then analyzing the options chain and the chart patterns of BIDU Baidu prior to the earnings report this week, I would consider purchasing the 105usd strike price in the in the money Calls with an expiration date of 2024-6-21, for a premium of approximately $16.90. If these options prove to be profitable prior to the earnings release, I would sell at least half of them. Looking forward to read your opinion about it.
NASDAQ:BIDULong
by TopgOptions
GBPJPY The Pennant pattern is formingThe Bank of Japan facilitated the biggest yen sale in six months. The dollar rose 1.70%, approaching last year's high (about 152 yen). Breaking above the Bollinger Bands, which are two standard deviations above the 20-day moving average, the U.S. dollar traded three standard deviations from the moving average. It's quiet today. The dollar has spent most of its trading so far between 151.15 yen and 151.50 yen. Some participants are considering moving to 160 yen. In the short term, $2.3 billion of options expire at 152 yen.
Long
by Chart_MasterPro
2
INTC Intel Corporation Options Ahead of EarningsIf you haven`t bought the Double Bottom on INTC here: Then analyzing the options chain and the chart patterns of INTC Intel Corporation prior to the earnings report this week, I would consider purchasing the 34usd strike price Puts with an expiration date of 2024-1-19, for a premium of approximately $2.56. If these options prove to be profitable prior to the earnings release, I would sell at least half of them. Looking forward to read your opinion about it.
NASDAQ:INTCShort
by TopgOptions
1
MSFT Microsoft Corporation Options Ahead of EarningsIf you haven`t bought MSFT after they revealed a 49% Stake in OpenAI creator of ChatGPT: Then analyzing the options chain and the chart patterns of MSFT Microsoft Corporation Options prior to the earnings report this week, I would consider purchasing the 350usd strike price Calls with an expiration date of 2023-12-15, for a premium of approximately $6.90. If these options prove to be profitable prior to the earnings release, I would sell at least half of them. Looking forward to read your opinion about it.
NASDAQ:MSFTLong
by TopgOptions
2
EURUSD USD gains momentum as government bond yields rise againEUR/USD was little changed as traders awaited further stimulus following the release of disappointing Eurozone PMI data. Germany's Ifo business report showed business confidence improved from 85.8 in September to 86.9 in October, but this did not provide additional support for European currencies. From a technical perspective, EUR/USD is unable to settle above the resistance at 1.0670-1.0700 and is heading towards the next support at 1.0520-1.0550.
by Chart_MasterPro
GBPJPY Overall inflation has declined, but some factors appear to be persisting. The latest figures from the Office for National Statistics show that inflation across the UK is falling. The consumer price index in September was 6.7% and has been stable since August. The largest monthly change was due to lower food and beverage prices, with gasoline and diesel contributing the most to upward pressure on inflation. Markets currently believe that the Bank of England is likely to keep interest rates unchanged at 5.2% at its next meeting in November. However, Pill stressed that ``(the Bank of England's) duty is not to reduce inflation,'' adding, ``It is important that we achieve the 2% target in the long term and sustainably.'' "We still have a lot of work to do," he added. We should do it to get back to 2 percent. ” UK inflation remains the highest among G7 countries. In the longer term, there are signs of a "more persistent component of inflation," with "parts of inflation lasting for 18 months to two years."
Long
by Chart_MasterPro