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GOLDSTATEMENT CHANGES There were only two notable changes to the statement compared to the prior one as flagged in the statement comparison at the back of this publication. Key is that language around forward guidance shifted. They now say: “In considering the extent and timing of additional adjustments to the target range for the federal funds rate….” Instead of: “In considering additional adjustments to the target range for the federal funds rate….” This is material in that it injects fresh uncertainty into how much further the Committee thinks they will be cutting, and how over time. The second change was the introduction of a dissenting voice. Cleveland’s Hammack preferred to hold at this meeting. A MORE HAWKISH DOT PLOT First, picking up on the last point is the observation that there were actually four dots that preferred a hold today, yet only one voting dissenter. That probably says that the other three Committee members are regional Presidents who aren’t in this year’s voting line-up but some of them may be when that changes in January. In teeing up the subsequent points, charts 1 and 2 show the new dot plot of Committee rate projection and compared to our forecasts for the policy rate.... FUNDAMENTAL FROM SCOTIA BANK FOR ADDITIONAL EDUCATION.
FOREXCOM:XAUUSD
by Shavyfxhub
Gold Short Trade 11/12/2024### Technical Analysis for Gold Futures *Current Pattern:* - *Rising Wedge Formation*: The recent price action suggests that Gold Futures are forming a rising wedge pattern. This bearish pattern indicates that momentum is weakening despite rising prices and may precede a price decline. Traders should look for confirmation of a breakout below the lower trendline to validate this pattern. *Key Resistance Levels*: - *Double Top Formation*: A double top has emerged in the price structure, further reinforcing the bearish outlook. The market has struggled to break above the previous highs, indicating potential exhaustion among buyers. *Target Levels for Price Decline*: - *$2693*: Watch for this level as a potential pivot point. If we break below, it could trigger further selling pressure. - *$2687*: This could serve as the next support; a breakdown here might push prices lower. - *$2676*: Another critical support level, further affirming bearish sentiment if breached. - *$2667*: A substantial support area where buyers may step in; however, sustaining a break below this level could indicate a more significant downward trend. *Volume Analysis*: - Pay close attention to trading volume as prices approach these key levels. A decrease in volume during upward movements could indicate weakening bullish sentiment, while increased volume on downward moves might confirm the bearish trend. *Risk Management*: - It's crucial to implement proper risk management strategies. Consider setting stop-loss orders above key resistance levels to protect against unexpected price reversals, and define your risk-reward ratio clearly before entering any trades. ### Summary: Overall, the technical indicators suggest a bearish outlook for Gold Futures with a rising wedge and double top formation. Key monitoring levels are $2693, $2687, $2676, and $2667 for potential sell opportunities. Maintain awareness of trading volume and employ risk management strategies to navigate this market safely. Safe trading, everyone! 📉💼
EIGHTCAP:XAUUSDShort
by SRFXGlobal
XAUUSD - sells in play?Here is our in-depth view and update on XAUUSD . Potential opportunities and what to look out for. This is a long-term overview on the pair updated from the previous one. Last time, we took a step back and took a look at XAUUSD from a bigger perspective (H4 time-frame). We are still using H4 to show you the sells we have in play. XAUUSD is currently trading at around 2670s . If you remember our previous long-term view on OANDA:XAUUSD you should remember that after hitting the top of the area at around 2714 (a bit higher) we were automatically looking for sells. We are currently holding a few sell positions at 2680s as the price failed to break higher. Personal opinion: The direction for now is bearish in our opinion. We are looking for sells and we do believe gold could see some massive sell-offs in December before the year of 2024 ends. KEY NOTES - XAUUSD completed the predicted long-term move to the upside. - XAUUSD sells were called at the top of the area (2714). - XAUUSD failed to break higher and is following the long-term analysis. Happy trading! FxPocket
OANDA:XAUUSDShort
by FxPocket
3
GOLD → The FED Rate Decision Ahead: What Should You Do?Dear Traders, Gold (XAUUSD) has made a notable move, successfully testing the strong support level at 2633 before traders shifted into buying mode. As a result, the price broke above 2643, sparking new optimism as upcoming discussions around potential rate cuts from the Federal Reserve (FED) take center stage. Currently, there is a 93% probability that the FED will cut rates by 25 basis points. However, the overarching theme is the FED's stance for the future. Hawkish hints regarding 2025 could influence the rate-cutting trajectory, an aspect the market has only partially priced in. This means any indication of a smaller rate cut could fuel strength for the U.S. dollar. Conversely, a deeper cut could act as a bullish catalyst for gold. The spotlight is firmly on FED Chair Jerome Powell's comments, as they will provide crucial insights into the economic outlook for 2024 amidst the backdrop of Trump-era policies that continue to play a pivotal role. That said, downside risks for gold remain elevated, particularly if the FED maintains a hawkish stance in the current climate. Technical Analysis: At the moment, gold prices are consolidating within the range of 2658 - 2633, with a breakout in either direction likely to bring about a strong momentum-driven move. The market is complex and highly volatile right now, which is why traders are advised to hold off on entering positions before the event. Waiting for volatility to subside can offer better clarity on market direction and safer opportunities. Final Advice: Patience is key in such turbulent times. Avoid getting swayed by short-term noise and focus on acting only after a clear trend emerges following the major event.
OANDA:XAUUSDShort
by Bentradegold
##Gold Technical Analysis for the Upcoming Week 15/12/2024### Current Market Overview Gold has shown significant price movements recently, encountering challenges in breaking through key resistance levels. As we approach a crucial week with the Federal Open Market Committee (FOMC) decision, here’s a comprehensive technical analysis for gold (XAU/USD) to guide your trading decisions. ### Recent Price Action Breakout Attempt: Gold made an attempt to breach the resistance zone around $2700-$2720 but failed to maintain the bullish momentum. This failure suggests potential exhaustion among buyers and could indicate profit-taking ahead of the FOMC week. Post-PPI Movement: Following the release of the Producer Price Index (PPI) data, gold faced significant selling pressure, highlighting the market's sensitivity to inflationary signals that may influence future monetary policy. Current Price: As of the latest close, gold is trading at $2648, which is below the 60% Fibonacci retracement level from the last bullish impulse. This positioning indicates a possible shift in the short-term trend from bullish to bearish, or at the very least, a period of consolidation. ### Support and Resistance Levels - Support Levels: - Immediate support is noted around $2638. - Further supports are at $2623 and $2590. A break below these levels could accelerate declines towards $2565/2530 or even $2485. - Resistance Levels: - The recent high around $2692-$2721 now serves as key resistance, with $2671 also acting as a hurdle. For gold to reverse the current bearish sentiment, it would need to rise above this resistance zone decisively. ### Potential Scenarios for Next Week Bearish Scenario: If gold continues to trade below the 60% retracement level and fails to reclaim the $2692, we can expect further downward movement. Key levels to monitor would be the mentioned supports. A decisive break below these could indicate a deeper correction, targeting $2530/2485 or lower. Bullish Reversal: Should gold find strength and bounce back—potentially due to renewed safe-haven demand or a dovish signal from central banks—watch for a move above $2722 for confirmation. A sustained rise with good volume could invalidate the current bearish setup and signal a new upward trend. ### Anticipated Impact of FOMC Rate Decision FOMC Statements and Dot Plot: The FOMC's language, especially regarding future rate paths, will be essential. If hints of more aggressive rate cuts for 2025 are suggested, a bullish reaction could ensue for gold. Conversely, a hawkish or neutral stance could exert downward pressure on gold prices. Market Expectations: Current expectations lean towards a rate cut, but traders should be vigilant for indications of the Fed's overall policy aggressiveness. Any surprises in the FOMC decision could lead to substantial price swings for gold. Volatility Ahead: As the FOMC announcement approaches, increased volatility is expected. Traders should be prepared for whipsaws—sharp price movements that may reverse quickly. ### Post-FOMC Scenarios Bullish Case: If the Fed adopts a dovish tone, leading to a weaker dollar and lower yields, gold may become an attractive hedge. If it reclaims and holds above $2680-$2716 post-FOMC, we could see a resurgence in bullish momentum, targeting new highs. Bearish Case: Should the Fed's messaging be less dovish than anticipated, or if fewer rate cuts are indicated, we could see a strengthening of the dollar, pushing gold down further. Prices below $2600 may see intensified bearish momentum. Neutral or Consolidation: If the FOMC decision aligns with expectations without providing new insights, gold might continue to consolidate until another significant catalyst emerges. ### Conclusion The upcoming FOMC decision is pivotal for gold's price trajectory. Prepare for various scenarios based on the Fed's policy direction, and utilize this analysis to guide your trades effectively. Stay informed, stay alert, and best of luck in your trading endeavors!
EIGHTCAP:XAUUSD
by SRFXGlobal
Technical Analysis of Gold (XAU/USD) 15-Minute Chart The current price is trading around 2649. A focus on bearish potential below this level could indicate continuing the downward trend if it breaks down further. A bearish outlook for gold below 2649 with the formation of a head and shoulders pattern coupled with a rising wedge is a significant indication to monitor. If the price tests and breaks below 2645, it could lead to further declines, reinforcing the bearish bias. Always remember to manage risk accordingly and adjust your strategy based on real-time market developments.
OANDA:XAUUSDShort
by SRFXGlobal
XAUUSD (Gold) #FOMC Signal in Short AreaHello friends here is my XAUUSD(Gold) ideas about FOMC Economic Projections and Fed Press Conference ,lets share your opinions about the signal . The R1 is 2652 if its breaks the zone then it can go for long ,for long target you can view my last chart about Gold .if its breaks the S1 then my bearish target is declared in the chart so lets follow my signal and share your precious thoughts about my chart . Follow me for timely updates boost my post and support with your likes and comments .
OANDA:XAUUSDShort
by ALLEYPROFESSIONALS
XAUUSD FUNDAMENTAL ANALYSIS(READ CAPTION)hello traders, what do you think about this gold chart analysis. current price: 2634 currently market is working above its supporting point 2633 and from this position a bullish movement is expected and its resistance currently is 2658. if market breakout this price then its next target will be our main target 2664 key points: demand zone: 2658.2664, supporting area: 2633, 2628 kindly like, comment and follow me for latest updates of gold market. thanks for your support
TVC:GOLDLong
by LindaFxTrading
XAUUSD TECHNICAL ANALYSIS (READ CAPTION)hello my fellow traders, what do you think about this chart. current price: 2648 currently gold is working under resistance level and is about to go high. after breaking out bearish parallel channel market is back to its bullish movement and is trying to break the resistance above. after rejecting 2632 buyers are strongly supporting gold and has taken market back to its bullish track. if market continue its current trend then its first target will 2665 then after small retracement its next target will be. 2675. key points: demand zones: 2665, 2675 supporting area: 2645, 2636 don't forget to like, comment and follow. thanks for your precious time and support.
OANDA:XAUUSDLong
by Ibrahim_Gold_Traders
1
gold longgold long 💎Please don't be greedy ENTRY : yellow point TP : blue lines SL : below red line for LONG position above red line for SHORT position ⛔️INSTRUCTIONS 1: Please respect the yellow entry point, otherwise you risk entering too early before my strategy or too far, thus reducing gains and aggravating losses in the event of a stop loss ⛔️INSTRUCTIONS 2: For risk and money management: 5% of your wallet for LEV X ≤20 And 3% of your wallet for LEV X ≥ 20
CAPITALCOM:GOLDLong
by RODDYTRADING
2
HelenP. I Gold can rebound from trend line and start to declineHi folks today I'm prepared for you Gold analytics. Some days ago price dropped from the support level, which coincided with the buyer zone to the trend line. Then it turned around and started to grow inside a triangle pattern, where Gold soon reached the 2615 support level. Next, the price broke this level, made a retest, and continued to move up to the resistance zone, which coincided with the resistance level. When XAU reached this zone, it later turned around and made a strong impulse down, breaking the resistance level and declining to the support level. After this movement, the price some time traded near this level and started to grow, but later it declined to the support level, which coincided with the trend line again. Later price turned around and made a strong impulse up to the resistance zone one more time, after which turned around and dropped to the trend line, which is the support line of the triangle as well. Recently price exited from this pattern and now trades below the trend line. In my opinion, XAUUSD will rebound from this line and start to decline. For this reason, I set my goal at the 2615 support level. If you like my analytics you may support me with your like/comment ❤️
OANDA:XAUUSDShort
by FirstNameHelen
3
Gold Technical Analysis 17/12/2024 ### Current Price: 2658.00 #### Our Preference - Short Positions: We favor opening short positions below the resistance level of 2665.00. - Targets: Watch for potential targets at 2643.00 and subsequently at 2635.00 for extended moves. #### Alternative Scenario - Bullish Outlook: If the price moves above 2665.00, we may see further upside potential. - Targets for Upside Movement: Key levels to watch include 2674.00 and 2689.00. #### Comments - As long as the price remains below 2665.00, we anticipate a choppy price action with a bearish bias. Traders should remain cautious and reactive to the price movements around this key level. ### Key Support and Resistance Levels - Resistance Levels: - 2689.00 - 2674.00 - 2665.00 - Support Levels: - 2656.00 (Last Price) - 2643.00 - 2635.00 - 2613.00 ### Technical Patterns - Bearish Pennant: Monitor for a potential breakdown of the one-hour bearish pennant. If this pattern breaks to the downside, we could see the price target the 2635.00 to 2613.00 area. - Bullish Confirmation: Conversely, if the price closes above 2666.00 on an hourly candle, it may suggest that gold could rally, with targets set at 2687.00 and 2691.00. ### Conclusion In summary, keep a close eye on the dynamics around 2665.00. The next moves will heavily depend on how the market reacts to this resistance level. Depending on whether the bearish pennant breaks down or if we see a strong close above 2666.00, traders should be prepared for swift price action in both directions. Trade Wisely!
OANDA:XAUUSDShort
by SRFXGlobal