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Forextrend

Gold trend today, main selling trendWorld gold prices stabilized, with spot gold down 1 USD to 2,023 USD/ounce. Gold futures last traded at 2,035 USD/ounce, down 0.9 USD compared to yesterday morning. Despite being pressured by the minutes of the first policy meeting of the US Federal Reserve (Fed), gold continues to consolidate above 2,000 USD/ounce. In the newly released minutes, the Fed signaled that its monetary policy had peaked, but was not in a hurry to reduce interest rates. Fed officials noted that inflationary pressures eased and economic activity remained strong. According to the minutes, the committee wants more evidence to show that inflation continues to fall to the target level of 2% before making a decision to loosen monetary policy. Kitco.com senior market analyst Jim Wyckoff said the minutes did not provide any additional information on monetary policy following hotter-than-expected inflation data released last week. He said that, although a bit hawkish, the minutes contained no surprises. Recent hotter inflation reports have made the market more certain that the Fed will delay lowering interest rates until the second half of the year. Independent metals analyst Tai Wong in New York predicts that gold will likely continue to move sideways in the short term and the information the market is waiting for will be the personal consumption expenditure (PCE) report released. announcement next week, followed by payrolls and Fed Chairman Jerome Powell's testimony in Congress in early March. Although the gold market is struggling as expectations for interest rate cuts continue to be pushed back, according to WisdomTree market strategist Nitesh Shah, the longer the central bank delays, the risk of mistakes happening. The bigger the policy, the more this will ultimately benefit precious metals. This expert predicts that gold prices will reach 2,210 USD/ounce in the fourth quarter of this year, a new all-time high.
OANDA:XAUUSDLong
by FalCol_TradingMaster
World market turns down, trading strategyWorld gold prices are still attractive when the world's second largest economy is still facing difficulties in economic recovery. Data on China's manufacturing PMI index in December decreased from 49.4 points in November to 49 points in December, lower than the forecast level of 49.5 points. This is the third consecutive month that China's manufacturing PMI index has declined. Along with that, on January 5, China's giant asset management group Zhongzhi Enterprise Group, with assets of more than 140 billion USD, filed for bankruptcy because it could not pay its debts. This unit said there is about 66 billion USD in its balance sheet that cannot be paid. Zhongzhi is likened to an underground bank in China, mobilizing capital from households to lend or invest in real estate, stocks, bonds and commodities. It is expected that the amount recovered from the liquidation of this group's assets will be low. Thus, the Chinese economy is still having difficulty solving the problem of inactivity in the real estate and valuable paper investment sectors. Previously, in 2021, investors witnessed Evergrande's debt default. . It is forecasted that Country Garden will have a stronger influence than Evergrande because the number of projects is many times larger. Many people compare Zhongzhi to a "debt bomb" in the financial market. Increased risks in the financial market will cause investors to turn to gold speculation to ensure capital flows. However, the market also witnessed quite positive information from the US economy. Specifically, the new December employment data announced by the US is quite positive with 216,000 new jobs created in the non-agricultural sector, higher than the 173,000 jobs achieved last month and the 170,000 jobs previously forecast. Average hourly income (year/year) increased from 4% in November to 4.1% in December and higher than the 3.9% forecast. The unemployment rate in the US in December remained at 3.7%. ISM's manufacturing PMI index also increased from 46.7 points in November to 47.4 points in December 2023. Although this index is below the 50 expansion level, the increasing trend of this index shows that the US economy is recovering. Positive signals from the US economy and the rising USD put pressure on the gold market, causing world gold prices to decline at the beginning of this morning's session. Experts and investors said , gold prices will trade around the range from 2,000 - 2,050 USD/ounce before the market receives new economic information.
OANDA:XAUUSDLong
by FalCol_TradingMaster
DXY keeps falling on recent news, Gold continues to riseWorld gold prices rose as the code hit a 2-week high as expectations that the Fed would cut interest rates in the spring increased. World gold prices increased sharply this morning with spot gold increasing by 21.6 USD to 1,980.8 USD/ounce. Gold futures last traded at 1,987.3 USD/ounce, up 23 USD compared to yesterday morning. Gold prices soared to a 2-week high as they were boosted by falling US Treasury bond yields amid the prospect that the US Federal Reserve (Fed) has completed its cycle of raising interest rates and will carry out interest rate cuts next spring increasingly. Ole Hansen, commodity strategist at Saxo Bank, said that gold will maintain its recent strong gains as long as prices hold above $1,930 an ounce. He said the prospect of lower interest rates and demand from central banks will be strong enough support factors for gold to withstand any short-term strength from economic data. Data on Wednesday showed US producer prices fell the most in 3.5 years in October, the latest sign that inflation pressures are easing, while retail sales fell for the first time. after 7 months. Previously on Tuesday, data showed that US pepper prices were unchanged compared to the level recorded in October.
OANDA:XAUUSDLong
by FalCol_TradingMaster
XAUUSD - Soared when the USD suddenly plummetedThe world's gold price today (November 15) soared when the US announced that the October consumer price index fell lower than forecast. The sudden drop in the USD helped investors return to buying gold when deposit and transaction costs decreased. World gold prices continued to skyrocket this morning due to the USD suddenly plummeting. Specifically, the Dollar-Index - measuring the strength of the USD in a basket of 6 major currencies - dropped sharply by 1.49% to 104,060 points at 6:20 a.m. this morning (Hanoi time). The USD fell sharply after the US announced the consumer price index (CPI) for October was lower than expected. Specifically, the CPI in the US in October increased by 3.2% over the same period last year, a sharper decrease than September's increase of 3.7% and lower than the forecast of 3.3%. This is the lowest level since March 2021. The core CPI index in October in the US increased by 4% over the same period last year, lower than the 4.1% increase in September and the previous forecast. Experts say that a decrease in the CPI consumer price index will help The US Federal Reserve (Fed) cannot raise interest rates further at its upcoming December meeting. Because the Fed's prediction that it will not raise interest rates any further has pushed the USD down, gold prices have benefited as a result. Because gold transaction and custody costs will decrease. However, experts also warn investors to be cautious, because inflation has decreased but is still far from the target level of 2%. Previously, the Fed Chairman gave the message that the Fed will do everything to reduce inflation to the target level. Therefore, gold prices may still be under pressure if the Fed raises interest rates one more time.
OANDA:XAUUSD
by FalCol_TradingMaster
XAUUSD - Gold trading strategy, selling trend continuesWorld gold prices this morning continued to decline with spot gold down 19.3 USD to 1,949.4 USD/ounce. Gold futures last traded at 1,955.7 USD/ounce, down 17.8 USD compared to yesterday morning. The gold market witnessed its third consecutive decline as investors looked for new signals about the US Central Bank's interest rate stance. Daniel Ghali, commodity strategist at TD Securities, said that traders will start looking at economic data and potential actions from the US Central Bank and gold will react based on whatever data brings. According to this expert, it is difficult for gold to gain momentum if data does not show economic weakness. Recently, in their speech, a series of US Federal Reserve (Fed) officials kept a balanced view on the central bank's next decision, but noted that they will focus more on more on economic data and the impact of higher long-term bond yields. Gold is an asset that is very sensitive to rising US interest rates because they increase the opportunity cost of holding non-interest bearing assets like gold.
OANDA:XAUUSDLong
by FalCol_TradingMaster
XAUUSD - Gold is decreasing, should I buy or sell gold now?Last week, gold fluctuated with a narrow range and regularly tested the psychological barrier of 2,000 USD/ounce. However, the metal still failed to hold this level as it was caught between conflicting factors between interest rate expectations and geopolitical concerns. Among Wall Street analysts participating in the survey, 60% expect gold prices to move higher this week. 64% of retail investors participating in online polls have the same opinion. Forecasting this week's gold price trend, Kitco News' weekly gold survey shows that analysts and retail investors are optimistic about gold for the week ending November 10. Experts expect the price to break out this week even though there is not much supporting information. Adam Button, currency strategist at Forexlive.com, said that Friday's weak nonfarm payrolls report is a sign that the US Federal Reserve's interest rate hike cycle is over. momentum and the fact that gold remains near $2,000 an ounce even as the safe-haven push is weakening.
OANDA:XAUUSDLong
by FalCol_TradingMaster
Gold trading strategy at the beginning of the week November 6Many experts predict that the fall in gold prices is due to profit-taking pressure when last week the precious metal increased by 5%. Two weeks ago, the US and European economies released economic growth reports, in which GDP growth in the US increased more than twice the forecast. As a result, US Government bond yields have increased sharply. The 10-year US Government bond yield at 6:40 a.m. this morning increased sharply by 0.79% to 4.593%/year. The Dollar-Index measuring the strength of the USD in a basket of 6 major currencies also increased 0.06% to 105,080 points at the same time. Along with the positive economic reports published in the US and Europe two weeks ago, it is forecast that retail sales in the US will increase sharply in the last two months of the year when a series of events such as Black Friday and Christmas are held. , welcoming the new year takes place. To welcome the above events, businesses will organize discounts and promotions to attract customers to shop. This will positively impact production and business activities, promoting economic growth. Experts say that the US economy will continue to recover strongly in the last months of the year, thereby putting pressure on gold prices. Meanwhile, the factor supporting gold is that geopolitical tensions in the Middle East are weakening as countries and United Nations organizations are finding ways to get relevant parties to implement a ceasefire in the Gaza Strip.
OANDA:XAUUSDLong
by FalCol_TradingMaster
XAUUSD - Gold price increased again, what entry to sell now?World gold prices increased slightly this morning with spot gold increasing by 4.3 USD to 1,983.9 USD/ounce. Gold futures last traded at $1,997.40 an ounce, up $2.50 from the bright spot. World gold this morning was calm compared to yesterday's brilliance but has dropped much from the high level it had during the day when the newly released report showed the strong strength of the US economy. Specifically, the report showed that US GDP in the third quarter increased by 4.9% over the same period last year, higher than economists' expectations of 4.7% and therefore increased by 2.1% in the second quarter. This data favors those who support the possibility that the US Federal Data Bureau will continue to raise interest rates at future monetary policy meetings. Edward Moya, senior market analyst at OANDA, said the data “paints a picture of a very strong U.S. economy,” reinforcing the narrative that the Fed may need to raise interest rates more, which This is detrimental to gold. Even though the economic data was stronger than expected, Moya was surprised by the yellow metal's strength. “I'm surprised we haven't seen a big drop in gold prices. I think people realize that geopolitical risks are not going away anytime soon,” he said.
OANDA:XAUUSDLong
by FalCol_TradingMaster
XAUUSD - Short-term Gold trading, sell xauusdWorld gold prices are currently increasing again with spot gold prices increasing by 9.3 USD, to 1,979.6 USD/ounce compared to yesterday morning. Gold futures last traded at $1,994.90 per ounce, up $8.80 in today's session. Gold prices in today's trading session increased slightly in the context of the conflict in the Middle East remaining tense and consultants waiting for important economic data from the US to get more signals about the Bureau's policy direction. Federal Reserve (Fed). Bob Haberkorn, senior market strategist at RJO Futures, knows geopolitical concerns won't go away any time soon, which will continue to support gold. The gold index increased and the US 10-term treasury bond yields increased and gold became more bearish. Today's consultant's opinion has turned to the US third quarter GDP data to be released today, October 26, and the Personal Expenditure Price Index (PCE) to be released on Friday (October 27). . These data may influence the development of Fed interest rates. If the data slows, the Fed will have more reason to lower interest rates, which will greatly support gold and push its value above $2,000.
OANDA:XAUUSDLong
by FalCol_TradingMaster
USD/JPY stuck below 150 ahead of Japan CPI reportSoaring government bond benefits continue to dominate the pair's price action. Investors still need to watch out for Japan which will likely rate closer to 150. USD/JPY fell near 148.80, but quickly recovered to around 149.50 as the Bank of Japan (BoJ) is expected to announce its inflation forecast for fiscal years 2023 and 2024 earlier. On Tuesday, Bloomberg forecast the BoJ's new core CPI for fiscal 2023 could reach 3%, up from 2.5% in July and more than 2% for fiscal 2024. Inflation Forecast higher shows that the BoJ is confident ahead of salary increase negotiations next spring.
Short
by NicoTradingMaster
USDPLN Breakthrough: Rally Ahead or Resistance at Play?The rising USD against PLN has finally broken through its descending trendline. This strength in the dollar can be attributed to rising bond yields (amid an unmoved Federal Reserve) and the prevailing economic challenges in Poland and the European Union (recessions). On a technical note: The USDPLN pair has successfully broken out of a descending trendline on the daily timeframe that was evident since October 2022. Post breakout, a retest of this trendline occurred and the pair has since persisted in its upward journey. When zooming in to the 4-hour chart, the upward trend remains unblemished. However, a key observation here is our current position relative to the 'overbalance' level, which stems from February's bullish correction phase. Should the USDPLN manage to breach this overbalance threshold, we could be looking at potential resistance in the 4.27 - 4.33 region. This zone not only houses the 200-day moving average but also coincides with January's previous low and the 38.2% Fibonacci retracement level. #USDPLNAnalysis #ForexTrends #BondYieldImpact #TechnicalBreakout #FiboWatch #CurrencyTrading #EuropeanEconomyInsights
Long
by formaaaa
XAUUSD - Precious metals leveled off after soaringAfter many consecutive days of rising, the price of gold today, October 13, of the world has decreased as data broadcast in the US cooled, the USD and US interest bonds heated up. Overnight, the US announced that the annual consumer price index (CPI) increased by 3.7%, higher than the forecast of 3.6%. However, the annual core CPI excluding real product and energy prices decreased from 4.3% to 4.1%, meeting market expectations. At the same time, the US also announced the number of initial unemployment support applications of 209,000 applications, better than the forecast of 210,000 applications. Analysts say that utilization in the US is decreasing and the improving job market will push the US Federal Reserve (FED) to raise interest rates in November 2023 and maintain high interest rates for a longer period of time. . The value of the USD has skyrocketed after the above information. The 10-year US bond core increased by 4.65%, the 2-year bond increased by 5.07%. Under pressure from the USD and US bonds, gold prices may decrease after being able to control 1,885 USD/ounce. So they took the opportunity to sell it and make a profit. As a result, today's world gold price decreased by 15 USD to 1,870 USD/ounce at 6:00 a.m. on October 13.
OANDA:XAUUSDShort
by FalCol_TradingMaster
XAUUSD: Fed Chair Powell Speaks!Late on Tuesday, US President Joe Biden expressed concerns about China's significant challenges, sparking fears about the global economy and a potential conflict between the US and China. These apprehensions have also prompted gold buyers to take action. Adding to this, the Wall Street Journal (WSJ) reported that the Biden administration is contemplating imposing additional limitations on the export of artificial intelligence chips to China. This move is driven by mounting concerns over the potential technological advantage that US adversaries could gain. Support levels: 1,903.80 1,888.10 1,870.15 Resistance levels: 1,924.05 1,933.50 1,941.90
OANDA:XAUUSDLong
by Sphyn-Trader
29
XAUUSD:Gold ready for a technical drop?Immediate delivery of gold has experienced a significant weekly increase, the largest since November, due to concerns about the global financial market's widespread contagion this week. Gold has surged to its biggest weekly gain since November, fueled by concerns over the spread of the global financial market this week. The Credit Suisse crisis has further intensified risk aversion due to the collapse of Silicon Valley Bank, prompting market participants to flock to safe-haven assets. With the 14-day relative strength index (RSI) of gold entering "overbought" territory, if the RSI surpasses the 70 level, it could trigger a technical sell-off for spot gold.
OANDA:XAUUSDShort
by Sphyn-Trader
11
EURUSD Short - Technical AnalysisEURUSD is currently trading in sideways to downside trend . According to current price movement , it has reverse down from it major resistance level and trading near the trendline support area (shown in chart). if it take support at trendline we may see upside towards major resistance level but if it breaks the trendline support , EURUSD will move towards the major support level .by trend analysis EURUSD will movie towards major support level only if it breaks trendline support. short trade for EURUSD can initiate after break of support trendline with stop loss and risk management. Thank You Views / Opinions are welcome to discuss in comment section.
Short
by Fx_Trader_ViSa
5