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XAUUSD - GOLD CURRENT SITUATION#XAUUSD According to the analysis we gave to XAUUSS earlier, the DOWNSIDE WAVE, GOLD went down very fast. Due to the POSITIVE SENTIMENT against the dollar, US10Y rose due to this. Then Ibem became a GOLD SELL. Some FED COMMENTS and NFP DATA were very helpful. But last day all those LABOR DATA and INFLATION DATA INDICATORS were POSITIVE, so GOLD was slightly SELL. It is definitely a very important indicator for the FED. Currently, MARKET RISK is being OFF. CPI DATA was quite POSITIVE this week. Anyway, we expect that GOLD will go UP to 2070 LEVEL. After that, GOLD may go down to the 1855 level with the FOMC UPDATE. Be careful..
OANDA:XAUUSD
by benny_marshall
XAUUSD: Bullish Pennant!In early Asia, the gold price XAUUSD is under significant strain due to the increase in pressure to use US inflation, following OPEC+'s surprising announcement of production cuts at the end of the week. The valuable metal has fallen below $1960.00 as there is hope that the Federal Reserve (Fed) will maintain higher interest rates for a longer period. With the expectation of a boost in the US growth rate, higher oil prices resulting from conflicting output cuts will make it impossible for the Fed to maintain a stable monetary policy in May. The US Dollar Index (DXY) exceeded 102.70 due to the anticipation that the Federal Reserve (Fed) will continue to increase interest rates by 25 basis points (bps) to reach 5.00-5.25%. As a result, S&P500 futures contracts experienced a significant decline during early Asia, indicating a need for caution regarding the general appetite for risk. No information has been left out in this paraphrased text. The Relative Strength Index (RSI) (14) has entered a descending range between 20.00-40.00, indicating that Gold must experience a decline in order to maintain its upward momentum. No information has been left out in this paraphrased text.
OANDA:XAUUSDLong
by Sphyn-Trader
3
How will Gold rise and fall in the first week of April?The golden Friday first continued to be strong and high volatility, but the volatility was extremely narrow. It was considered a high-level pressure measurement. The upper level was continuously tested three times in 1985 and did not break. During the European market period, the market recovered, but the lower level only retreated to the 1973 line, and then there was a rebound in the shock, but there was still not much recovery momentum. Judging from the recent trend performance of gold and the rhythm of Friday's operation, although gold is more affected by emotions and is slightly stronger, it is difficult for the bulls to gain further recovery momentum. In the case of negative closing on Friday, the lack of continued recovery this week is a sign of insufficient follow-up of the bulls' momentum, which shows that although the market sentiment is extreme and bullish, different views have also emerged. On the 4-hour chart, the upward channel in the chart is the key pattern. The suppression of the upper channel has withstood the test again on March 31. The current position close to the upper channel is also a good short-term entry position. At present, I am optimistic that gold will step out of a 4-hour bearish flag. The upper channel is the most suitable but slightly aggressive position for the profit-loss ratio, and the follow-up short orders after the lower channel breaks the level are less profitable but more stable. So next week, in terms of gold operation ideas, I suggest that the rebound will be dominated by short selling at high levels, supplemented by long selling at low levels; the top will pay attention to the resistance of 1985, and the bottom will pay attention to the support of 1962.
OANDA:XAUUSDShort
by Short-term-king
XAUUSD - GOLD CURRENT SITUATION#XAUUSD According to the analysis we gave to XAUUSS earlier, the DOWNSIDE WAVE, GOLD went down very fast. Due to the POSITIVE SENTIMENT against the dollar, US10Y rose due to this. Then Ibem became a GOLD SELL. Some FED COMMENTS and NFP DATA were very helpful. But last day all those LABOR DATA and INFLATION DATA INDICATORS were POSITIVE, so GOLD was slightly SELL. It is definitely a very important indicator for the FED. Currently, MARKET RISK is being OFF. CPI DATA was quite POSITIVE this week. Anyway, we expect GOLD to go up to 2020 LEVEL. Before that, GOLD may go down to the 1900 LEVEL with the FOMC UPDATE. Be careful..
OANDA:XAUUSD
by benny_marshall
During the Super Data Week, will XAUUSD drop to 1804? Powell will testify before the Senate Banking Committee on Tuesday on the Fed's semi-annual monetary policy report. He will then testify before the House Financial Services Committee on the same topic on Wednesday. The market will also digest the latest non-farm payroll report for February, which is widely expected to add 200,000 jobs, with an unemployment rate of 3.4%. The upcoming testimony of Fed Chairman Powell and the February employment report will guide the direction of precious metals. The February employment report and Fed Chairman Powell's testimony in Congress this week should clarify whether recent comments about "continuing higher interest rates" are justified. In the short term, gold is still heavily dependent on data and the trend of the US dollar. If the Fed ultimately decides to raise interest rates, the trend of gold will be suppressed, and there will be a wave of downward movement. Looking at the hourly chart of XAUUSD, the current trend is running within the range of 1840-1860. It is expected that the overall trend will not form an effective breakthrough before explosive news comes out. Therefore, there is a demand for a decline when the trend reaches around 1860. Short-term traders can operate by selling high and buying low in this range. This week is the Super Data Week, with CPI, PPI, ADP, and NFP data, and the release of each data will directly affect the trend of gold, and is also the key to breaking the oscillation range. Personally, I will continue to pay attention to the release of data and the speeches of the Fed, and provide friends with the latest operational ideas. Thank you for your attention and support.
OANDA:XAUUSD
by FlashTrades_
1