Gold_Trading_Expert

Gold_Trading_Expert

EUR/JPY nicely pullback from its trendline support zone. 128.00 was double bottom zone. But EUR/JPY broke below 128.00 and tested its trendline support area at nearly 127.50. If today's daily candle closes a full-body bullish pattern, we can hope that EUR/JPY will test the 130.40/50 price zone very soon. 130.40/50 is an absolute strong resistance zone. Many...

Gold_Trading_Expert

The crude oil price has been on a steady climb this week, with two consecutive increases since the beginning. Today American market has not opened yet, but its possible prices will continue climbing even more tomorrow if they haven't already. But the crude price stuck below the trendline resistance nearly $75.30/barrel. The rise in crude goods is likely due to...

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Amid a regular trading session, markets await today's Bank of Canada meeting. Expected to keep monetary policy unchanged and interest rates at 0.25%, investors will be watching closely for any hints about future movements in this pivotal conference room drama. After last week saw no extreme economic events bring about changes or announcements that could have...

Gold_Trading_Expert

Gold's bullish mode is still in control as long as gold price holds above $1760, from the present rate near $1,793/1795, a vital resistance zone. The risk-off mood driven by the U.S.U.S. dollar retreat is aiding their bounce for gold prices. However, it would seem unlikely that we can expect further upside amid recent strength seen with Treasury yields and...

Gold_Trading_Expert

Dow Jones Break below the long-term trend line that started from January this year. But the recent omicron concerns and ahead of year-end profit may hamper the U.S. 30. Though fundamental environment, high corporate incomes, and constructive profit outlook will be the driving force for most U.S. stocks in this market. However, omicron variant uncertainty can...

Gold_Trading_Expert

The S&P 500 could see a dip in its value if it continues downward, though it is still on an uptrend. But the recent pandemic concerns and ahead of year-end profit may grow some volatility and hampered S&P 500 upward momentum. But the good news is the backdrop of a supportive fundamental environment, strong corporate earnings, and constructive profit outlook...

Gold_Trading_Expert

BTC dropped below the long-term trend line support started from July this year. Bitcoin dropped nearly $10000 price value in the last 4 hours, and it lost its almost 40% value from all-time high price level. Yesterday, the USA labor market report printed negative, though the market expected more optimistic than before. As a result, the US stock fell, and the...

Gold_Trading_Expert

Initially, gold has dropped below the long-term trend line starting from August. But we need more confirmation for long-term sell because $1760 identifies strong support. After breaking below $1760, our first target is $1750, the next target is $1720/1725, and the final target to the downside is $1680/1685. Testing $1720/1725 or below $1680 needs positive US...

Gold_Trading_Expert

The US is expected to announce its November employment figures on Friday, December 3. The country's unemployment rate is seen contracting from 4.6% to4.5% in November. Market forecast of 553K new jobs have added in November compared to 531K jobs. That means the market forecasted better than previous reports. So, it seems like things should continue trending...

Gold_Trading_Expert

The USD became more robust against all the major currencies during the American season yesterday after Powel's comments. But it didn't last long. The Pound continues to consolidate after French President Emmanuel Macron shared his Brexit-positive idea with the press. France Prepares Proposals For Deal With EU on Migration Less Than A Week After Slamming UK...

Gold_Trading_Expert

I would love to analyze Gold from a different angle. Therefore, I use various technical indicators and tools as well. Most of the time, I try to combine fundamental analysis with technical analysis. So, based on seasonal gold trading strategy and coronavirus omicron concerns, I think Gold may follow this setup from December to February. Gold may test $1770...

Gold_Trading_Expert

Oil prices are up in trading today as traders eye potential for a bounce-back after being badly beaten down at the end of last week. WTI suffered its worst performance this year with an 11% drop to $67.50 before finding some footing again around $71.50. Although it remains weaker than usual due mainly because there's no sign yet that supply confronted by demand...

Gold_Trading_Expert

BTC may rise again amid renewed coronavirus fears. As long as BTC/USD is above $48500, BTC still has chances to go upside one more time amid renewed coronavirus fears. From the present rates, immediate strong support identified nearly $51000/$50000 price zone. Therefore, our first target is $59800, and the next target is $68000, and the final target to the...

Gold_Trading_Expert

The gold market is again concerned about renewed coronavirus fears. This week we also have the US job market reports. So overall, gold traders will pass a busy week. But we should be concerned about the new coronavirus variant omicron. As a safe-haven asset, gold will have the most impact on any uncertainties. So, as long as gold is above the $1775 price zone,...

Gold_Trading_Expert

EUR/USD's downward target has not been finished yet. As 1.1200 is significant support. So, it is expected that the 1.1200 EUR/USD can correct the upside until the 1.1320/1.1350 price zone. But EUR/USD can break below the 1.200; EUR/USD has high chances to test the 1.1010/1.100 price. And final target to the downside is the 1.0800/1.0787 price zone.

Gold_Trading_Expert

All the major currencies have been weak against the USD for a couple of weeks. However, GBP and EUR are performing a bit better than other days. Yesterday RBNZ increased the 0.25% cash rates from 0.50% to 0.75%. But cash rates didn't help NZD to attract investors because of inflation. So Instead of getting strong, NZD became weak against all the major...

Gold_Trading_Expert

Gold was consolidating losses for most of the day, but it finally tested in a sideways price movement nearly $1778 price zone. The mixed USD data and RBNZ's rake hikes kept XAU/USD on downside pressure. Though gold still holds above the rising trend-line support, the central bank's rate-hiking bias may hurt gold's upside rally. As long as gold holds above...

Gold_Trading_Expert

The price of gold is about to enter a much deeper consolidation, where gold prices may continue lower until they reach support from previous levels of the $1830/$1800 price zone. The market behavior comes when bulls cannot go any higher due to lack of demand. Selling pressure also comes into play that makes them pause before re-engaging with buyers again. The...