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Gold analysis July 23Fundamental analysis US President Joe Biden's withdrawal from the 2024 Presidential election has increased the chances of Donald Trump becoming the next US President, raising hopes of a looser regulatory environment. Additionally, the People's Bank of China's (PBoC) surprise interest rate cut on Monday still supported the market's optimistic sentiment and became the main factor acting as a drag on precious metals This safe haven. However, dovish expectations from the Federal Reserve (Fed) will help limit losses for non-yielding Gold prices. In fact, market participants seem confident that the US central bank will begin lowering borrowing costs in September and have priced in the possibility of two more rate cuts by the end of the year. This triggered a fresh decline in US Treasury yields, putting US Dollar (USD) bulls on the defensive and supporting the yellow metal. Therefore, it would be wise to wait for some follow-through selling first with a buying strategy to extend the all-time high that has just been established. Technical analysis Gold was about to test the support level of 2386 but the selling force was no longer enough to reach the support zone yesterday. Gold price recovered to above 2400 in the third European trading session. Gold is breaking the trendline structure of the h1 frame to form an uptrend. If you can close the candle above the 2402 area, gold will be ready to conquer higher levels during the day. The first level of strong resistance could be around 2420 and next at 2431 which will help restrain the rise in gold prices. And the SELL signals are established there. On the contrary, after failing to find 2384 again, the deeper support areas at 2366 and 2350 become more difficult to reach today. The RSI index in the h4 frame is still below the average level of 50. However, the RSI has just crossed the MA 9 line, also showing that buyers have begun to jump in to push the price up. Trading signals SELL scalp zone 2422 - 2420 stoploss 2425 SELL zone 2431 - 2433 stoploss 2437 BUY scalp zone 2386 - 2384 stoploss 2380 BUY zone 2373 - 2375 stoploss 2369
OANDA:XAUUSD
by TVS-Trader
Gold shows signs of recovery and increases again☘️Fundamental analysis Gold prices showed uncertainty near key support at $2,400 during the European session on Monday. The precious metal remains on edge amid growing speculation that the Republican Party led by Donald Trump will win the United States (US) presidential election in November. Market experts see Trump's victory as beneficial for economic growth because he has promised to cut corporate taxes and interest rates. This has driven upside risks to consumer inflation expectations. Trump's growing margin of victory has improved the appeal of the US dollar. The US dollar index (DXY), which tracks the value of the US dollar against six major currencies, fell slightly to 104.20 on Monday after a strong recovery from a four-month low is 103.65. The yield on the 10-year U.S. Treasury note fell to 4.22%. Lower yields on interest-bearing assets reduce the opportunity cost of investing in non-interest-bearing assets, such as Gold. ☘️Technical analysis Gold prices trade in a narrow range near $2,400. This precious metal dropped near the EMA 89 of the 4 hour frame and is reacting bullishly. The 14-day relative strength index (RSI) dipped into the 40.00-60.00 range, suggesting the bullish momentum has stalled. However, the uptrend remains intact. The bullish position is ready to return if the 2400 support level remains intact after the close of the daily candle. Resistance: 2420 - 2431 Support: 2403 - 2397 - 2392 - 2382 SELL price range 2419 - 2421 stoploss 2425 BUY price range 2392 - 2390 stoploss 2386
OANDA:XAUUSD
by TVS-Trader
GBPUSD analysis new weekFundamental analysis: GBP/USD ended the trading session high in a two-week rally as the US dollar generally came under pressure from investors who flocked to hopes of a Federal Reserve cut. interest rates in September. Markets are ignoring the unexpected rise in wholesale inflation according to the Producer Price Index (PPI). Despite a significant increase in manufacturing-level inflation, market attention turned to the decline in Consumer Price Index (CPI) inflation at the start of the week, leading to higher expectations of a rate cut capacity. Next week, the Pound will face the UK Consumer Price Inflation Index (CPI), scheduled for release next Wednesday. UK Labor and Retail Sales data will be released in the second half of the week, and on the Greenback side, US Retail Sales will decline to start the week on Tuesday. Technical analysis: GBPUSD is rising within the range, approaching this year's high at 1.30000. Since breaking this peak of 1.28900 GBPUSD has received bullish confirmation, opening up the next upside target at the highs highest in a year. In the long term, GBPUSD is still in a strong uptrend and has not shown signs of recovery, showing the possibility of price increases to a higher level. A decisive break above the 1.30000 high would open up targets at 1.31200. The recovery can find the important support areas breaking out 1.28600 and deeper into the strong support area of ​​the two EMA lines around 1.27100. Support: 1.28500-1.27100 Resistance: 1.30000-1.31200 SELL GBPUSD zone 1.31200-131400 Stoploss 1.31500 BUY GBPUSD zone 1.28500-1.28300 Stoploss 1.28200
by TVS-Trader
EURUSD Analysis (July 22-July 27)🌐Fundamental analysis: EUR/USD fell slightly below 1.09. ECB kept interest rates unchanged as expected and left open a decision on interest rates in September. The US Dollar (USD) regained upward momentum on Thursday, bringing the USD Index (DXY) back above 104 .00, thanks to a significant recovery in US bond yields. In his press conference, the ECB president expected the recovery to be supported by consumption, emphasizing the resilience of the labor market. Domestic inflation remains high and wages are growing at a high rate. Besides, investors are still debating whether the Fed will make one or two interest rate cuts this year. Meanwhile, the prospect of an economic recovery in the Eurozone and signs of cooling in key US economic indicators could ease the ongoing divergence in monetary policy between Fed and ECB, sometimes supporting the EUR/USD pair in the near future. 🕯Technical analysis: Expect EUR/USD to face the next upside resistance at 1.096, followed by the January high of 1.110. On the upside, if the bears regain control, the pair could target the 1.0820 EMA support zone before sliding to the June low of 1.0666. Looking at the big picture, it seems like the growth momentum will continue if the price line remains above the two EMA lines. There are two break out levels to form a very important trend of the pair at 1.096-1.082. Support: 1,083-1,068 Resistance: 1,096-1,110 SELL EURUSD zone 1.110-1.130 Stoploss 1.140 BUY EURUSD zone 1.082-1.080 Stop loss 1.079
by TVS-Trader
1
GBPUSD analysis July 22 - July 27🌐Fundamental analysis The British Pound (GBP) extended its correction compared to most other currency pairs. The British currency continues to slide as the UK Office for National Statistics (ONS) reports weaker-than-expected June Retail Sales data. BoE officials are hesitant to back a move to normalize policy as the US Core Consumer Price Index (CPI) remains stubborn amid persistent inflation in the services sector. Meanwhile, an expected deceleration in Average Earnings data for the three months ended May, a key measure of wage growth that drives services inflation, failed to lift expectations. about the BoE cutting interest rates in August because the current pace is still higher than needed to maintain stability to contain price pressures. 🕯Technical analysis The British Pound corrected sharply to near 1.2920 against the US Dollar. GBP/USD weakened as gains stalled after hitting a new yearly high of 1.3044 on Wednesday. The upward sloping moving average (EMA) near 1.2800 suggests that the uptrend remains intact. The 14-day relative strength index (RSI) fell after turning slightly overbought and is expected to find a cushion near 60.00. On the positive side, the two-year high near 1.3140 will be the main resistance area for GBPUSD. Last week's peak around 1,304 could also halt the pair's surge and create a double top pattern for the pair to become more stable. On the other hand, the 1.285 and 1.277 support levels become the two main support zones keeping GBPUSD in the rising price channel. If there is a sell-off that pushes the pair beyond the price channel, it could extend the price slide to the 1,262 area, the lowest bottom in two weeks. Resistance: 1,304-1,314-1,330 Support: 1.285-1.277-1.262 SELL GBPUSD 1.314-1.316 Stoploss 1.317 BUY GBPUSD 1,280-1,278 Stoploss 1,276
by TVS-Trader
9
GOLD : Gold is turning around unexpectedlyGold prices ended the US session and started the new day quite calmly compared to previous developments, trading around 2,400 USD after peaking on July 24 at 2,432 USD. Last night, the fluctuations after the release of the preliminary PMI report were not too significant. Besides, before the opening of the 5-year US government bond auction, gold prices increased slightly as yields decreased. But soon after, the 10-year government bond yield increased 2 bps to 4,274%, putting pressure on gold prices. Although the USD weakened slightly, the impact was insignificant. CME's FedWatch tool shows a 100% probability of a 25 bps rate cut in September; while market forecasts show that the Fed could cut interest rates by a total of 53 bps in 2024. On the economic front, the US trade balance improved more than expected, but the preliminary manufacturing PMI fell, indicating weakness. Specifically, S&P Global's July services and composite PMIs both exceeded expectations, reaching 56.0 and 55.0 respectively; while manufacturing PMI decreased from 51.6 to 49.5, lower than forecast. Investors are waiting for the release of Q2 GDP data and the core PCE index - the Fed's preferred inflation measure - to have more basis to evaluate the economic situation and guide monetary policy. Regarding forecast, Q2 GDP is expected to reach 1.9% over the same period last year, showing that the economy is accelerating. It is worth noting that inflation calculated on core PCE is expected to decrease from 2.6% to 2.5%.
TVC:GOLD
by SantaTradeGold
XAUUSD : Gold is plunging, will it return to 2300?Gold prices have formed a "Bullish Harami" pattern, but unfortunately cannot maintain the upward momentum and are currently struggling around the $2,400 mark. If it closes below this mark, gold prices will likely continue to decline. The RSI indicator is in the 40.0-60.0 zone and moving sideways, showing a balance between buying and selling power. If gold prices can return and surpass $2,430, the next target will be $2,450, followed by the historical peak of $2,483 and the psychological threshold of $2,500. On the contrary, the gold price continuing to adjust below USD 2,384 may open up deeper declines. The next support levels are SMA 50 at $2,359 and SMA 100 at $2,315, respectively.
OANDA:XAUUSD
by SantaTradeGold
COTIUSDT => Uptrend posibilityPrice Action and Trend: We observe that the price has exited a long-term downtrend and entered an upward channel. The yellow downtrend line indicates that the price has broken this trend and started to rise. Support and Resistance Levels: There are several important resistance levels marked with red lines on the chart: 0.16873 0.14700 0.12527 0.08906 The support level marked with a green line is at 0.10158. Target Price and Potential Gain: The blue box and arrow indicate the potential for the price to reach the 0.12527 level. This represents an increase of 0.04543 (or 44.72%) from the current level (0.11223). Price Channels: We see that the price is moving within an upward channel marked in blue. This channel is used to define the boundaries of the upward movement of the price. Overall, the chart shows that COTI has recovered from an important support level and has the potential to move towards certain resistance levels. Such technical analyses can be important decision-making tools for investors.
Long
by alemicihan
$TSLA Retesting Critical Support Range After Earnings MissIf you've been following the analysis, we've hit quite a few short-term targets... NASDAQ:TSLA NASDAQ:TSLA | So far, we've seen a 40%+ move from our entry at $145. Targets: $180 , $200 , $260 , $300, $450 After 29 weeks of analysis with consistent levels, a plan for scaling in, where to stop, and that big-picture thesis - this earnings leading into the RoboTaxi event will paint the rest of this picture. Now let's take a look at the earnings readout: Optimus Development • A significant new addition to Tesla's innovative portfolio is the development of the Optimus robot, which Elon Musk recently announced is slated for low production by 2025 and high production by 2026. • Optimus, expected to be utilized internally by Tesla as early as next year, represents a leap into robotics that could revolutionize labor and operational efficiency within Tesla’s manufacturing processes. • It would be great to learn on the earnings call about the initial integration of Optimus into Tesla’s ecosystem, its production timeline, and the expected financial and operational impacts of this groundbreaking development. Autonomous Driving • The Q2 earnings call is anticipated to shed light on Tesla’s progress with its Full Self-Driving (FSD) capabilities and the Robotaxi service. The delay in the Robotaxi rollout, while initially a setback, has allowed Tesla additional time to refine and enhance its autonomous technology. • Updates about the integration of FSD into the Robotaxi design -- which is central to Tesla's strategy in autonomous driving -- will be of interest. Tesla's vast real-world driving data fuels its AI, making continuous advancements possible and setting Tesla apart in the race towards fully autonomous vehicles. • Elon Musk's vision for transforming Tesla into a leader in mobility-as-a-service (MaaS) will also be a focus. With Tesla's autonomous tech, the company is poised to dramatically reduce transportation costs, making mobility more accessible and affordable. The introduction of the Robotaxi and potential partnerships with existing ride-hailing services could significantly expand Tesla’s market reach and influence. Energy Storage • Tesla's energy storage segment is likely to be a focal point of the Q2 earnings, following its impressive growth. In 2023 and 2024, this segment's contribution to gross profit notably rose, accounting for less than 8% of revenue in Q1 but potentially reaching or exceeding 14% if revenue doubles sequentially as anticipated • Last quarter, energy storage constituted 10.9% of Tesla’s $3.69 billion in gross profit, a significant increase from 3.7% in Q1 2023. The segment boasts a higher margin profile than Tesla’s automotive operations, achieving over a 24% gross margin in the first quarter. Despite this impressive growth, the expected surge in Q2 revenue will likely not substantially impact EPS, due to the automotive margin stabilizing around 18% • Additionally, the role of energy storage in Tesla's long-term strategy to create a more sustainable energy ecosystem will be examined, with expectations for clear plans on how Tesla intends to leverage its tech capabilities to maintain leadership in this high-potential market. China Market • Tesla's strategy and performance in China will be another significant topic in the Q2 earnings report. Given the dynamic and highly competitive nature of the Chinese EV market, Tesla is expected to outline how it is adapting its business strategy to address local competition and regulatory challenges. This includes detailing efforts to optimize its Shanghai Gigafactory's output and innovations specific to the Chinese market • Interest in Tesla’s customer engagement and marketing strategies in China, especially how Tesla plans to compete with local EV giants like NYSE:NIO , will be high. Furthermore, Tesla’s approach to managing supply chain issues, tariffs, and geopolitical tensions that could affect its operations will be critical. Earnings Estimates Q2 2024 • Sales $24.7B -- down 1% YoY • GAAP EPS $0.48 -- down 38% YoY FY Outlook • Sales $99.4B -- up 33% YoY • GAAP EPS $2.18 -- down 49% YoY Forward looking, the future looks bright...
NASDAQ:TSLA
by PennyBois
2
Impact of core PCE on the XAUUSD projectMeanwhile, in phrases of today`s buying and selling session, we've an essential facts piece coming up, the device may be the May Core PCE Price Index. Expect the index to upward thrust 0.1 % need to be as compared to ultimate month so ultimate month's growth become 0.2%. On a 12 months-on-12 months basis, the index is anticipated to are available at +2.6% in May, down from +2.8% 12 months-on-12 months in April. If real facts is weaker , then that might gain bonds to fall, which could assist enhance the attraction of low- and zero-yielding property like gold. On the each day timeframe, it could be visible that gold has now reached capacity guide in the $2,385 to $2,four hundred region. The preceding resistance degree meets the 21-day exponential shifting common here. The 21-day EMA regularly offers precise guide at some stage in sturdy trends. Let's see if this occurs again, or if we fall a bit under this degree this time. The bullish fashion line when you consider that February is round the $2365 region, that's the subsequent key guide if the $2385-2400 region is broken.
OANDA:XAUUSDShort
by Chart_MasterPro
1
Gold prices are under pressure due to the firmness of the USDTechnical Outlook: In last month's Weekly Gold Price Forecast, we noted that XAU/USD has "consolidated just above the 75% parallel over the past month... For now, the immediate focus is on breaking 2300-2333 range break - losses should be limited to the median so that October's uptrend remains viable with a close above 2431 needed to mark a continuation of the uptrend." The consolidation pattern broke higher the following week with gold prices soaring more than 8.6% from June lows. Weekly support lies at the target monthly open/highest weekly close for May (HWC) at 2326/33 and is backed by a more significant technical hold at 2278/93 - one area defined by the 23.6% retracement of the broader 2022 advance and the 38.2% Fibonacci retracement of the 2024 annual range. A broken/closed window below this pivot zone would is needed to find a bullish market correction block rather than a return to the median line (currently ~2200). The key resistance level remains at the record closing high/April High at 2415/31 and a weekly break/close above the upper latitude line (blue) would be needed to mark the continue the uptrend and complete the next big move in price. The next targets point to a 1.618% extension of the October bullish period at 2516 and a 1.618% extension of the 2022 bullish period at 2565.
OANDA:XAUUSDShort
by Chart_MasterPro
XAUUSD : Gold returns to create upward momentumWorld gold prices tend to recover after falling in the previous session, losing the mark of 2,400 USD/ounce right after Joe Biden announced he would not run for the next US presidential election. Previously, analysts predicted that after a sharp decline from a peak of 2,482 USD/ounce, gold could witness another sharp decline at any time, when the overbought volume is dominating, especially in if it falls below the psychological mark of 2,400 USD/ounce. Gold can only stabilize or reverse the situation, when upcoming economic data will benefit this precious metal. In particular, the US June CPI - announced this weekend is expected to continue to decrease, which supports gold prices.
OANDA:XAUUSD
by SantaTradeGold
EURUSD analysis new weekFundamental analysis Broad market hopes for a faster pace of interest rate cuts from the US Federal Reserve (Fed) peaked on Friday despite producer price index (PPI) wholesale inflation. of the United States increased significantly. The Fiber index extended its third straight weekly gain as investors' risk appetite was kept at a ceiling. US Retail Sales figures will be released next Tuesday and Euro traders will have to wait for the European Central Bank's (ECB) latest interest rate call next week, which is expected ​takes place early next Thursday. The ECB recently delivered a quarter-point rate cut in early June, but further cuts appear unlikely and markets are generally forecast to cautiously leave rates unchanged in July. Technical analysis EUR/USD notched a third straight weekly gain, closing Friday slightly above 1.0900. The pair is up 2.3% from its late-June lows and the day's price action is preparing for a clash with the next technical resistance around 1,097. Beyond this peak, EURUSD will continue to move towards the previous year's high at 1,112. In the pullback the direct support level is at the point where investors fought a lot before choosing the winning BUY side at the 1.082 price zone, which is the same zone supported by the two EMAs. In a trend reversal next week's low could reach around 1,068. Support: 1,082-1,068 Resistance: 1,097-1,112 SELL EURUSD zone 1.082-1.084 Stoploss 1.085 SELL EURUSD zone 1.112-1.114 Stoploss 1.115 BUY EURUSD zone 1.082-1.080 Stoploss 1.079 BUY EURUSD zone 1.068-1.066 Stoploss 1.065
by TVS-Trader
4
Gold will soon hit the 2500 markFundamental analysis Gold prices edged up slightly above $2,470 a troy ounce on Thursday, remaining near record highs amid growing optimism that the Federal Reserve (Fed) will cut interest rates in September. Low Interest Rates makes non-yielding assets like Gold more attractive to investors. Federal Reserve officials have expressed growing confidence that the pace of price increases is now more in line with policymakers' goals. Traders will likely keep an eye on weekly US Initial Jobless Claims and the Philly Fed Manufacturing Index on Thursday, along with a speech by the Fed's Lorie Logan. Technical analysis However, the 14-day Relative Strength Index (RSI) is positioned slightly below the 70 level, suggesting confirmation of the bullish trend but also overbought conditions for the asset. A correction can be expected in the short term. . A breakout above this 2470 level could see the pair test the old peak of 2484 and a gradual move towards the psychological level of 2500 On the downside, the Exponential Moving Average (EMA 34) on the h4 timeframe is forming two strong support levels at 2,440 which could act as immediate support, followed by the lower boundary of the ascending channel at $2,421. A break below the latter could put downward pressure on the XAU/USD pair to navigate the area around the regression support at $2,290. Support: 2450 - 2442 - 2432 Resistance: 2485 - 2495 - 2500 - 2515 - 2525 BUY zone 2442 - 2440 stoploss 2436 BUY zone 2432 - 2430 stoploss 2426 SELL zone 2485 stoploss 2490 SELL zone 2500 stoploss 2500
OANDA:XAUUSD
by TVS-Trader