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3 Reasons to Buy GOLD now as All-Time High BeckonsGold is expected to continue its upward trend based on the analysis provided by UBS economists. Factors such as central bank demand, broad US Dollar weakness, and potential safe-haven flows during a US recession support the buy signal for XAU/USD. Traders should closely monitor market conditions, including any developments that may impact the US Dollar or global economic stability. TRADE IDEA DETAILS CURRENCY PAIR: #XAUUSD (Gold/US Dollar) CURRENT TREND: Bullish TRADE SIGNAL: ↗️Buy Signal 👉ENTRY PRICE: $1,965 ✅TAKE PROFIT: $2,012 ❌STOP LOSS: $1,928 3 Reasons to Buy Now as All-Time High Beckons: Central bank demand should remain robust: UBS economists expect central banks to continue buying gold at a higher rate than the average since 2010, which indicates strong demand. This trend is driven by heightened geopolitical risks and elevated inflation. Central bank buying provides support for gold prices. Broad US Dollar weakness supports Gold: UBS also highlights the weakening trend of the US Dollar (USD). Gold has historically performed well when the USD softens, and UBS predicts another round of USD weakness over the next 6-12 months. The negative correlation between gold and the USD suggests a potential upside for gold prices. Rising US recession risks may prompt safe-haven flows: Recent data from the US indicates slowing growth and tighter credit conditions, which could weigh on the economy and corporate profits. UBS mentions that gold's relative performance versus the S&P 500 tends to improve during US recessions. In uncertain times, investors often seek safe-haven assets like gold, which could drive demand and push prices higher.
OANDA:XAUUSDLong
by RichDadph-FX
2
AUDCAD MASSIVE RALLY UPCOMINGThis week we saw a dump in all the CAD pairs and I was a beneficiary of that dump. I took a sweet short on NZDCAD. This coming week, AUDCAD has lined up well for a sweet long. On the monthly timeframe, we are on a critical demand level, and on the daily, we have buy-side liquidity to take before heading to my TP. I will be monitoring this pair for a CHOCH before going long. I would advise you to observe for manipulations before the bullish move so you don't take a hit. Here is the NZDCAD setup I took which played out perfectly. I will be sharing more trade ideas and setups in the coming days. Ensure you are following me so you don't miss out. Cheers, David
Long
by jabariofafrica
2
USDJPY waiting for price actionCurrently, the USDJPY is trapped between a previous day's high and a recent day's low. Until we break out of this range there is little to do. Yesterday's target was not the rebalancing of the previous 3 days' action but the high from the 13th. If we get a break below this level, I'll have to look for a short down to 132.50 The DXY higher time frame chart shows that there is a higher probability of a move below 100, so this would help drag the USDJPY lower. The main reason for the move though is the market participants' expectations of a change in monetary policy from the BoJ. If they were to tighten in any way, the Yen would blast higher and the USDJPY would crash. The GBPJPY is under Monday's low and if this holds Tuesday's momentum may carry on to the downside. The big outside on the EURJPY also looks very bearish My only thoughts left on the GBPJPY are that there are two distinct levels of perceived resistance where there will be a lot of stops resting. these higher levels will at some point be a massive target, and formed the basis of my previous days thoughts on the market direction. Once again, the USDJPY will drag these EURJPY and GBPJPY pairs around, so I am having to be patient.
by Macrobriefing