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Gold Price Analysis August 26☘️Fundamental Analysis Gold prices traded above the 2520 resistance level after the European session. The gains came amid growing expectations that the US Federal Reserve (Fed) will start lowering borrowing costs in September. Lower interest rates are generally positive for Gold as they reduce the opportunity cost of holding non-interest-bearing assets. Furthermore, escalating geopolitical tensions in the Middle East and economic uncertainty are likely to boost safe-haven demand, benefiting Gold prices. On the other hand, sluggish demand in the Chinese economy could weaken the yellow metal as China is the world’s largest producer and consumer of gold. Later on Monday, US Durable Goods Orders for July are due. The highlight of the week will be the US Preliminary Annual Gross Domestic Product (GDP) for the second quarter and the Personal Consumption Expenditures (PCE) Price Index for July, which will be released on Thursday and Friday. ☘️Technical Analysis: With the current price increase, the technical structure has tilted to the upside. We will wait for the H1 candle to close above the 2520 port to confirm that gold will continue to move straight to the resistance zone of 2530. And in the US trading session, gold can completely create a new ATH. Retracement hooks are relatively unlikely at the moment. When the distance to 2509, the Asian session bottom this morning encountered quite a few barriers. The important technical support hook today will be 2495 to ensure the current market structure. Resistance: 2525 - 2535 - 2547 - 2558 - 2568 - 2590 Support: 2509 - 2500 - 2494 - 2485 - 2472 - 2461 - 2454 - 2442 SELL zone 2528 - 2530 stoploss 2534 BUY zone 2496 - 2494 stoploss 2490
OANDA:XAUUSD
by TVS-Trader
The market is reacting too positively to interest rate cutsExperts are expecting that the unsure country of the worldwide economic system and the Fed`s pass to reduce hobby charges will push gold expenses to new file highs this year. Kitco News' trendy weekly gold survey has decided on many specialists and retail buyers who agree with that gold will hold to reinforce its new file. Mr. Alex Ebkarian, CEO of Allegiance Gold Company (USA), stated that with the expectancy of reducing hobby charges, the gold rate will growth to 2,six hundred USD/ounce. Sharing the equal opinion, Phillip Streible, Chief Market Strategist at Blue Line Futures, stated gold expenses may want to growth to a brand new rate of 2,six hundred USD/ounce earlier than the marketplace witnesses promoting stress to take profits.
OANDA:XAUUSDShort
by FalCol_TradingMaster
EURUSD analysis week 35🌐Fundamental Analysis EURUSD surged in the North American session after Federal Reserve Chairman Jerome Powell gave the green light to interest rate cuts, as he believes inflation is approaching the central bank's 2% target. The pair traded near 1.120, a recent month high. The week ahead opens with a relatively quiet data schedule, however key inflation data points from both the EU and the US remain in the shadows. US Gross Domestic Product (GDP) growth figures will act as the precursor event on Thursday, but EURUSD traders will focus on a double headline on inflation scheduled for Friday next week. The EU Harmonized Consumer Price Index (HICP) preliminary inflation figures for August are due out next Friday and are widely expected to show that the core EU inflation figures continue to cool towards the European Central Bank’s (ECB) 2% annual target. On the US side, the Personal Consumption Expenditures (PCE) price index will be released on Friday. 📊Technical Analysis: EURUSD has formed a strong uptrend that is the highest in the past month following the latest Fed data. On the D1 timeframe, the EMA 34 is sloping up strongly against the EMA 89, suggesting that the market structure is tilted to the upside with the nearest trading range around 1.127-1.110. With such a strong rally, the upside could extend next week to the resistance at 1.14. Any pullback at the moment is seen as a good time to buy rather than a trend reversal. The best BUY level is around 1.100 strong resistance zone that EURUSD broke through and now forms a strong support zone when the pair price returns. Resistance: 1.127-1.146 Support: 1.110-1.100 🕯Trading signals BUY EURUSD zone 1.127-1.129 Stoploss 1.131 SELL EURUSD zone 1.100-1.098 Stoploss 1.096
by TVS-Trader
Gold keeps the bid bias unchanged above $2,500The short-term technical outlook for Gold price remains in favor of buyers so long as the triangle resistance-turned-support, now at $2,470, holds. Note that Gold price yielded a symmetrical triangle breakout last week while the 14-day Relative Strength Index (RSI) points north above 50. These technical indicators suggest that the bullish potential remains well in place for Gold price. On the upside, should Gold buyers recapture the record high of $2,532, the next relevant topside target is seen at the $2,550 level. Acceptance above the latter could challenge the $2,600 round level en-route to the triangle target, measured at $2,660. If the Gold price correction resumes, the immediate support is seen at the abovementioned triangle resistance-turned-support at $2,470. A breach of the latter will call for a test of the. Further south, the $2,450 psychological barrier will come to the rescue of Gold optimists.
OANDA:XAUUSD
by TVS-Trader
GBPUSD analysis week 35Fundamental Analysis GBP/USD surged in North American trading after Federal Reserve Chairman Jerome Powell gave the green light to interest rate cuts, as he believes inflation is approaching the central bank's 2% target. The pair traded above 1.3200, at a fresh two-year high, up more than 1%. Bets on a 50bps rate cut opening in September have increased after Fed Chairman Jerome Powell, in his speech at the Jackson Hole Economic Conference on Friday, publicly admitted that it was finally time for the US central bank to start pushing down its benchmark interest rate. Next week, GBPUSD traders will want to keep an eye on the upcoming UK bank holiday on Monday. For the rest of the week, UK economic data releases remain limited, although the currency market will pay special attention to the upcoming US Gross Domestic Product (GDP) growth and Personal Consumption Expenditures (PCE) inflation figures due later next week. Technical Analysis: GBPUSD formed a strong uptrend at a two-year high following the latest Fed data. On the D1 timeframe, the EMA 34 is sloping up strongly against the EMA 89, suggesting that the market structure is tilted towards the upside with the nearest trading range around 1.328-1.314. With such a strong rally, the highest the pair can reach next week is around the resistance zone of 1.341. It is quite difficult to find a good SELL point when the market has not reacted to the price at the moment. Any pullback at this point is seen as a good time to buy rather than a trend reversal. The best BUY level is around 1.300 strong resistance zone which GBPUSD has broken through and now forms strong support zone when the pair price returns. Resistance: 1.328-1.342 Support: 1.314-1.300 Trading signals BUY GBPUSD zone 1.300-1.298 Stoploss 1.296 SELL GBPUSD zone 1.342-1.344 Stoploss 1.346
by TVS-Trader
Gold price analysis August 23☘️Fundamental analysis: Gold prices attracted fresh buyers in the Asian session on Friday, moving away from the weekly lows touched the previous day. Growing acceptance that the Federal Reserve (Fed) will start lowering borrowing costs at its September policy meeting did not help the US Dollar (USD) to capitalize on a decent overnight rebound from weekly lows. However, gold prices remained below the psychological $2,500 level as traders eagerly awaited Fed Chairman Jerome Powell’s speech at the Jackson Hole Symposium for clues on the path of interest rate cuts, which could provide fresh directional momentum. In addition, developments surrounding the ceasefire talks between Israel and Hamas will play a key role in influencing the near-term trajectory of XAU/USD, which looks set to post modest losses for the week. ☘️Technical Analysis Gold recovers from the important technical support level of 2470, which is also the support level that I identified for you in the previous analysis. The important price zone that gold is heading towards is 2500. There will be two important cases when the price breaks and does not break out of the 2500 zone. When breaking the 2500 zone and heading towards the resistance zones that gold could not break yesterday. The zones of interest are 2509 and 2513, which are also important today. If it cannot break, it may continue to downtrend. On the contrary, breaking the 2513 zone will head towards 2519 and form an uptrend when trading successfully above 2520. In the opposite direction, the important support zone is the breakout zone of 2485 and the support zone of yesterday's bottom around 2571. If it breaks 2471, 2465 becomes the final support zone. Wish you successful trading Resistance: 2500 - 2509 - 2513 - 2519 - 2530 Support: 2485 - 2472 - 2465 SELL price zone 2500 - 2498 Stoploss 2505 SELL zone 2519 - 2521 Stoploss 2524 BUY scalp price zone 2465 - 2363 stoploss 2460 BUY price zone 2472-2470 stoploss 2468
OANDA:XAUUSD
by TVS-Trader
Gold trading strategy August 22☘️Fundamental Analysis: Gold prices attracted some sellers during the Asian session on Thursday and slid closer to the psychological $2,500 mark, although they held above the overnight low. The US dollar (USD) gained some positive momentum and now appears to have broken a four-day losing streak, hitting a fresh yearly low on Wednesday. This, coupled with the underlying bullish sentiment across global financial markets, turned out to be a major factor undermining the safe-haven precious metal. That said, dovish expectations from the Federal Reserve (Fed) could limit the USD’s recovery and act as a bullish driver for Gold. Data released on Wednesday showed that US job growth over the year through March was weaker than initially estimated. Moreover, the minutes of the July FOMC meeting showed that some officials are leaning towards an immediate rate cut. This reaffirms bets for the imminent start of the Fed easing cycle in September, which would benefit the non-yielding yellow metal. ☘️Technical Analysis: Gold is trading in a range of 2495-2518. The consolidation zone that has been maintained throughout this week needs to be stronger for gold to break out of the price range. On the upside, gold will face immediate resistance around 2513 before reaching the important breakout zone of 2518. The all-time resistance around 2531 will be the last resistance before making a new ATH and heading towards higher hooks. If gold fails to break the resistance of 2513 and breaks the lower band of 2395, the important support zone around 2385 will be the key place to watch. The lowest level at the sell plan is 2376. Resistance: 2519 - 2527 - 2531 - 2540 - 2552 Support: 2500 - 2495 - 2488 - 2475 - 2470 SELL scalp price zone 2518 - 2520 stoploss 2523 SELL price zone 2550 - 2552 stoploss 2556 BUY price zone 2477 - 2375 stoploss 2471 BUY scalp price zone 2488 - 2386 stoploss 2482
OANDA:XAUUSD
by TVS-Trader
BankNifty Prediction for Tomorrow : 23 August 2024BankNifty Prediction for Tomorrow: 23 August 2024 The market was pretty much sideways today. According to the Risological swing trader: The Trailing stop loss is at 50,675 If the event of a gap down tomorrow morning, and closes below 50,675 in 15m candle close, I will be looking at buying PE side positions. If it continues the upside movement, the upper targets are as follows. These are also the resistance zones. Resistance: 51,430 - 52,108 - 52, 527 Trailing stop loss - 50,675
NSE:BANKNIFTYLong
by ProfitsNinja
EUR/USD Soars to 2024 Highs as Fed Rate Cut Speculation GrowsThe EUR/USD pair extended its rally for the fourth consecutive day, reaching new 2024 highs around 1.1170. This surge has been fueled by continued weakness in the US Dollar (USD), which has been under pressure as market sentiment shifts. The US Dollar Index (DXY), a measure of the USD’s strength against a basket of major currencies, fell below the critical 101.00 level for the first time since December 2023. This decline was exacerbated by the release of the Federal Open Market Committee (FOMC) Minutes, which hinted at the possibility of an interest rate cut by the Federal Reserve (Fed) in September. From a technical perspective, the EUR/USD pair bypassed its first supply area without a significant rebound and is now approaching the second supply zone, a key area where a potential sell reversal is being closely monitored. The latest Commitment of Traders (COT) report reveals an interesting divergence: retail traders remain bullish on the pair, while commercial traders and large funds appear to be positioning themselves for a move in the opposite direction. The likelihood of a rate cut has been a focal point for traders. The CME Group’s FedWatch Tool currently shows nearly a 60% chance of a 25 basis point reduction at the Fed's September 18 meeting, a slight decrease from around 70% the previous day. Despite the FOMC Minutes supporting the possibility of lower rates as early as next month, Fed Governor Michelle Bowman urged caution, suggesting that rate reductions should be gradual if inflation aligns with the Fed’s 2% target. Her comments indicate a desire to avoid an overly restrictive monetary policy that could stifle economic growth. Should the Fed opt for more substantial rate cuts, the policy gap between the Fed and the European Central Bank (ECB) could narrow in the medium to long term. This convergence may further support the EUR/USD pair, particularly as market participants expect the ECB to implement two additional rate cuts this year. Such a scenario could provide additional upward momentum for the EUR/USD, pushing it even higher in the coming months.
Short
by FOREXN1
1
Inverted Head and Shoulder Pattern breakout in DALBHART🔍 Technical Analysis on DALBHARAT (1-Hour Timeframe): Pattern Formation: An Inverted Head and Shoulders pattern has recently formed and broken out on the 1-hour chart of DALBHARAT. This bullish reversal pattern is often a strong indicator of a potential upward movement, particularly after the breakout from the neckline. Breakout and Entry Point: The breakout occurred as the price crossed above the neckline, which was near the 1795 level. This breakout is a key signal for a potential long entry. Traders can consider going long above 1795, anticipating further upward movement. Projected Target: Based on the head height of the pattern, the projected target for this breakout is around 1865+. This target is derived by measuring the distance from the head (the lowest point) to the neckline and adding it to the breakout point. The 1865 level serves as the potential upside target, representing the full price move expected from this pattern. Stop Loss Consideration: To manage risk, a small stop loss can be placed at 1751, which is safely below the neckline and the recent low, allowing some room for market fluctuations without prematurely exiting the trade. Summary: Entry: Above 1795 Target: 1865+ Stop Loss: 1751 This trade setup aligns with the technical structure of the inverted head and shoulders pattern, offering a favorable risk-to-reward ratio for those looking to capitalize on the potential bullish momentum in DALBHARAT.
NSE:DALBHARATLong
by TradZoo
Gold Price Analysis August 21☘️Fundamental Analysis Gold prices extended their bullish consolidation above the psychological $2,500 level heading into the European session on Wednesday and remained within striking distance of the record high hit the previous day. Investors appeared to be betting that the Federal Reserve would begin its policy easing cycle and announce 25 basis points (bps) in September. This continued to weigh on US Treasury yields and became a key support for the non-yielding yellow metal. In addition, geopolitical risks, China’s economic woes and a slight decline in global risk sentiment served as a boost for the safe-haven commodity. Investors also appeared reluctant and preferred to wait on the sidelines ahead of the release of the July FOMC meeting minutes. In addition, Fed Chairman Jerome Powell's speech at the Jackson Hole Symposium on Friday will be closely watched for clues on the US central bank's policy path. ☘️Technical Analysis Gold is trading in a narrow range of 2500 and 2532. That is the wide range we can trade when gold breaks out of the sideways range in the Asian session around 2519-2510. Today's key support resistance zone around 2550 and 2476 to ensure that gold's price range does not increase or decrease too much. RSI corrected in the US session yesterday but is still at a relatively high level. If gold fails to close below 2500, it is very likely to create a new ATH in the following days. Resistance: 2527 - 2531 - 2540 - 2552 Support: 2500 - 2495 - 2488 - 2475 - 2470 SELL scalp zone 2528 - 2530 stoploss 2533 SELL zone 2550 - 2552 stoploss 2556 BUY zone 2477 - 2375 stoploss 2471
OANDA:XAUUSD
by TVS-Trader
Gold prices are standing still and waiting for results from FEDAfter completing the new history, gold easily becomes a time-limited investor. Not only that, gold prices at such a high level are difficult to attract new buyers to the market, also causing this commodity to decrease in price. Sharing the same opinion, Anuj Gupta - Head of Commodities and Currency at HDFC Securities - determined that the upward trend in gold prices is still there and the direction of the precious metal will depend on the main direction of the US Federal Reserve. (Fed). He believes that the speech of Fed Chairman Jerome Powell at the upcoming Jackson Hole congress will find a clearer picture of the monetary policy presentation of the Bank of America. Accordingly, if Mr. Powell shows concern about the balance between economic growth and deflation, this will strengthen the possibility of cutting interest rates. Conversely, if he is optimistic and does not offer a commitment instrument, the school may have to adjust its current expectations.
OANDA:XAUUSDLong
by FalCol_TradingMaster