Gold_Trading_Expert

Gold_Trading_Expert

In the H4 chart, GBP/USD confirms breaks and is stable below the ascending trend line. However, technically it has started its downward trend. As the British government's proposals to tackle its record budget deficit and inflation have been outlined, it is unclear how Mr. Sunak will be able to tame both issues. The GBP/USD pair has lost strength in early...

Gold_Trading_Expert

Today bank of Canada will publish its monetary policy and rate decision. Overnight rates are expected to be unchanged. The Bank of Canada may leave all policy levers unchanged today. But it's essential to watch what governor Tiff Macklem says during her statement today. The inflation rate is currently at an 18-year high in Canada. Moreover, supply pressures...

Gold_Trading_Expert

In the H4 chart, gold is still in an uptrend. Next Thursday, the USA will publish its quarterly advanced GDP report. Unfortunately, the report forecasted slower than the last report. Usually, October was not a good month for gold for many years, and we have been watching it. But this year, it didn't happen. So, if this and next month gold's price doesn't drop,...

Gold_Trading_Expert

Dollar Index: Still Bullish, But Below 93.00 May Change the Scenario. The US Dollar broke out of a brief downtrend in late September as the Federal Reserve signaled they might raise rates faster than expected. The break was driven by proper motive and significant as it allowed for more years supply, fueled inflationary fears that have been present all year...

Gold_Trading_Expert

The Crypto market has been rising for several months. Bitcoin tested over April's high and new high recorded $67000 price zone. But compared to other cryptos, DOGE couldn't do much for the investors. DOGE was stuck into a triangle from July. After a long time, the DOGEUSD has finally broken the triangle, and the market price is holding above the breakout zone....

Gold_Trading_Expert

Fundamental View: Inflation concerns primarily drive the recent rally in Bitcoin. This suggests that the supposed ETFs are not to blame but just an after-effect of increased demand for cryptocurrency due to economic uncertainty around the globe. This week's most exciting development comes from financial institution JPMorgan who believes there may be more...

Gold_Trading_Expert

Gold Breaking Above 1787 we should go for sell and upside $1800/1805. On the other hand, Breaking below $1775 will open the door to $175-.40 Buy Stop 1787 SL: 1775 TP: 1800/1805 On the Other hand, Sell stop@ 1775 SL: 1787 TP: 1750

Gold_Trading_Expert

The Treasury yield curve has been the main factor pushing gold prices up. However, the increasing inflationary concerns-led earlier Fed's tightening calls keep the upbeat tone intact around XAU/USD, limiting any upside attempts in this pair of currencies by limiting its upward movement. The growing interest rates due to an increase in the need for tighter...

Gold_Trading_Expert

Gold suffered heavy losses last Friday. In addition, the 10-year US Treasury bond yield rose more than 1% on Friday, indicating that investors are becoming less confident in the economy's stability and strength of their earnings potentials. However, the latest retail sales report shows positive economic data like better-than-expected retail figures for October...

Gold_Trading_Expert

6th of October AUD/CHF broke the long-term descending trendline and started an uptrend. AUD/CHF is holding above the descending trendline and forming a bullish pattern. Right now, AUD/CHF is stuck into a triangle. Breaking above 0.6870 will confirm the bullish breakout and triangle. The first target to the upside is 0.6960/6970, Price Zone. Breaking above...

Gold_Trading_Expert

The USD/JPY continued its strong run last week, recording new daily gains on Friday in the US season. The pair remains poised for weekly advances of more than 1%. However, RSI is showing that the market holds onto an overbought zone that suggests caution to investors. So, we may see some profit-taking from this territory. USD?JPY may reward if prices correct...

Gold_Trading_Expert

A driver should know when to drive faster and when to stop. Likewise, as a trader or investor, you should know when to cash your investment and reinvest. Since July 2021, bitcoin added almost 28kof its value. Who bought BTC in July nearly returned double. Once bitcoin is considered a safe haven asset, but it is too volatile. From July 2021, bitcoin follows a...

Gold_Trading_Expert

A recent Federal Open Market Committee meeting showed that half of its members expected an interest rate hike by 2022. As a result, silver (XAG/USD) has been climbing recently, trading at $23.50 today with an almost 2% gain in one session alone. All these factors aid silver's climb to new heights due to their correlation with gold prices and demand for industrial...

Gold_Trading_Expert

Fundamental View: It is almost clear that the fundamental reports are not dominating the gold market for a few weeks. Last two weeks are several U.S. market mover data have already been released. Most of the fundamental reports were printed positive, but they didn't help the USD against gold. The only reason behind these odd market movements is playing market...

Gold_Trading_Expert

Fundamental View: The U.S. dollar is getting a boost from the rising yield on the 10-year Treasury bonds, which have reached their highest point since June. What supports safe-haven flows as well. The ISM Services Purchasing Managers' Index surprised on Tuesday and showed that business activity in America remains strong at 61%. Goldman Sachs analysts...

Gold_Trading_Expert Updated 

What happened last week? : Last week was fantastic for the USD. USD became strong against all of the major currencies. FOMC was hawkish as FED announced that if the U.S. upcoming economic data comes positive, they will start tapering very soon. I mean, every high-impact positive report will help the USD and gold will drop. What is not clear for the...

Gold_Trading_Expert Updated 

Fundamental View: The current fundamental situation is supportive for Gold. After announcing that it would pay the bond interest due on Thursday, China's struggling property giant Evergrande Group eased concerns about the company's impending bankruptcy. The Chinese central bank also injected cash into the banking system, which helped to increase the global risk...

Gold_Trading_Expert

Gold prices continued their downward trend on Friday, with XAU/USD trading down 1.87%. The sell-off takes price into a critical support pivot, and we're looking for possible inflection off this threshold in the days ahead, as there is an update from The Federal Reserve next week about interest rates that you need to know. Look back at my analysis, I had mention...