Gold_Trading_Expert

Gold_Trading_Expert

There are no big signs of the dollar strengthening in recent times. However, the Fed has so far been in favor of raising bank rates. But the reality is that although it is possible to temporarily support the USD by increasing the bank rate, eventually the USD won't get an advantage against gold and overall commodities unless Iinflaton drops. As it was...

Gold_Trading_Expert

After a long time, gold breaks above the trendline resistance. Though gold is still under the horizontal resistance level of $1810. After breaking above the $1810 price zone, we will get the confirmation that gold is going to upside again for another time. Technically, from the present rates, major support is identifying nearly at the $1785/1780 price zone. So,...

Gold_Trading_Expert

Note: USD/JPY is in uptrend, there is no doubt here. So, selling USD/JPY is risky. The FED is raising rates and BOJ is still holding their negative rates. So, as a carry trading method JPY is much weaker than the USD. And BOJ already says they are not going to raise rates anymore. Now the question may arise, WHY am I in sell mode in USD/JPY. Reason is...

Gold_Trading_Expert

Having been in gold sell mode all the time since the beginning of last week, but the market closed up nearly 500 pips after the release of the positive CPI report of the American session last Friday. Both the Daily and Weekly candles have closed as bullish candles. Although the market has closed bullishly, Gold has not been able to close above its strong...

Gold_Trading_Expert

BTC breaks above the triangle and created a chance to test $32000. Right now market suck in its near term resistance level of $30767. SO, technically it may go in some downward correction. But, market seems very strong buy momentum. So, if BTC breaks above its near-term resistance level of $30767 we can buy instant and one kore buy limit order at its near term...

Gold_Trading_Expert

Hello gold traders, welcome back in new week trading season. Technically gold is still in uptrend and fundamental also supporting that gold may hit nearly $1910 price zone again. Last week the us GDP missed. This week everything is depending on the US labor market report, specially in NFP. Until NFP report release technically gold may test $1900/1910 price zone...

Gold_Trading_Expert

The much awaited FOMC will be released in a few hours. Naturally, there happens a big movement in dollar related pairs during FOMC. There are two parts to the FOMC statement 1. Hawkish 2. Dovish In a nutshell, hawkish means positive economic activity or optimistic positive economic projections. Hawkish statement includes all positive economic outcomes, including...

Gold_Trading_Expert

If Gold stable again below $1850, then Gold could test $1835/1830 again. As can be seen from the 1 hour chart, Gold is still in a somewhat bullish mode. However, if the hourly candle breaks below $1850, the picture may change. Until the FOMC tomorrow, it looks like Gold will make a drop till 1830/1835. However, testing below $1830/1835 will be very rare till...

Gold_Trading_Expert

As long as gold is above $1830/1825, We don't need to sell gold. We won't even enter in buy mode as well unless it breaks above the $1850. Breaking above the $1850 will open the door for $1860, 1865, 1872, 1882 and finally 1892. At $1892, we have Fibo 50% retracement zone. So, there may we see some correction to the downside. Read my gold's weekly...

Gold_Trading_Expert

Those who have been doing forex for a long time know very well that the Bank of Japan occasionally intervenes in the forex market on JPY. The most interesting thing is that last week, the Japanese Prime Minister Kisida indirectly intervened in JPY. This is why the Japanese yen has strengthened quite a bit against the dollar. Although USD / JPy did not drop much...

Gold_Trading_Expert

Gold has reversed quite well in the last few days, and weekly candle closed in a bullish. A few days ago, Gold broke the long-term trend line support and tested $1786. However, it did not last long. Gold reversed sharply last week, largely due to a drop in US Treasury bond yields and China withdrawal its Covid restrictions. However, I still think it's not the...

Gold_Trading_Expert

Over 3 weeks, gold is falling at a stance with out any major upside correction. FED is very hawkish in their statement, and it has big chances that they will rise bank rates several time more than 50 bp in this year. To hike rates CPI is a very important report. So, if the CPI prints positive or more than 5% gold has chances to drop below its strongest support...

Gold_Trading_Expert

The US job market report will be released today after few hours. NFP is the most important report among all the job market reports is the forex market. At the same time un-employment and earning reports will also be released, and they are also important too. FOMC ended two days ago. FOMC was the total hawkish stance, although the dollar weakened immediately due...

Gold_Trading_Expert

Last three days, BTC/USD lost nearly $3500 in its value. BTC is hovering at its minor trendline support zone of $39500. $3800/37500 is its strong trendline support zone. Several times, BTC went up from its minor and major trendline support. I am expecting this time will also respect the trendline support. As long as BTC is above the trendline support zone, it...

Gold_Trading_Expert

Last week's starting was pretty good for gold. In last week's weekly article, I mentioned that gold could test the $2000 price zone and can correct the downside from that level. It has been so. Gold dropped nearly 2% last week after testing a robust $2000 resistance level. Last week, the $1950/1960 area was a strong support zone, and the market broke below the...

Gold_Trading_Expert Updated 

Technically, gold has again gone into bullish mode. However, there was no solid fundamental issue like going into gold bullish mode last week. But somehow, the gold breaks above the Near-Term Trendline Resistance level. Although gold has broken above the trendline resistance, it will not be in long-term buy mode until gold stabilizes above $1951 ( Immediate...

Gold_Trading_Expert

The Gold Market was closed last Thursday due to Good Friday. However, the gold market has closed in bullish mode. However, there has been resistance to the current Gold Prize at the $1982 level. Somehow if gold can break out $1972 resistance level in the next week, hopefully, it won't take too long to test $2000. Several major central banks had raised their bank...

Gold_Trading_Expert

For various reasons, gold still has the opportunity to test $2,000. If you notice the movement of gold, you will see that the tendency to rise is higher than dropping the gold price. There are many reasons behind the gold's upside bias. 1. Inflation has risen worldwide 2. Economic growth is declining 3. Russia-Ukraine war 4. Demand for Gold as a Safe Haven 5....