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GOLD.18/05: Prosperity for buyersTVC:GOLD Gold (XAU/USD) prices wound up at a three-week low, raising bids to print a slight gain around $80 in the early hours of today's Asian session. In doing so, the XAU/USD bears will get some steam after falling for the past two consecutive days due to the lack of key data/events. Even so, expectations about the US being able to ease its debt limit and join the US Federal Reserve's (Fed) negotiations are putting pressure on Gold prices. Accordingly, the yellow precious metal could drop to the 50% Fibonacci retracement level of the March-May rally, around $1,950, before testing the 100-DMA support at $1,930 and the Fibonacci ratio gold, 61.8% mark, about 1,915$ In case Gold price still falls past $1915, the possibility of witnessing a drop in XAU/USD cannot be ruled out. Additionally, the Gold price rally needs to sustain beyond the bottom of the stated triangle $2000, quickly followed by a circular resistance at $2,010. Even so, the 23.6% Fibonacci retracement level and the top of the aforementioned triangle near $2,020 and $2,055 respectively will be in the spotlight. BUY GOLD 1984 - 1983 StopLoss: 1980 Take Profit 1: 1989 Take Profit 2: 1994 Take Profit 3: 2000
TVC:GOLDLong
by DNA_TradingFX
3
GOLD 16/05 : Nice sell entryTVC:GOLD Gold prices push the lower line of a two-month-old bullish channel as XAU/USD traders brace for key US Retail Sales and debt ceiling negotiations among US policymakers. However, the 200 SMA adds strength to the $2000 support, making it key for the XAU/USD bears to break before taking control. Even if Gold prices drop below 2003$, the 2,000$ round figure could act as an additional filter south before heading XAU/USD towards mid-April lows around 1,975$ . On the downside, a two-week-old descending resistance line, around 2,025$ at press time, protects the Gold price rally in the short term. Following that, the previous monthly high near 2,050$ could test XAU/USD's upside momentum before directing the bulls to the recent record high near 2,085$. It is worth noting that the top line of the stated bullish channel, near 2,095$ at the latest, stands ahead of a round figure of 2,100$ to challenge the subsequent Gold buyers. Overall, Gold price is likely to move higher unless it sustains a breakout of 2,000$. SELL GOLD zone 2024 - 2029 Stoploss: 2034 Take profit 1: 2019 Take profit 2: 2014 Take profit 3: 2009
TVC:GOLDShort
by DNA_TradingFX
EUR/JPY: 16/05. Good input for the sellerEUR/JPY is heading towards the neck and shoulder line after the cross broke out of the 20-day Exponential Moving Average (EMA) at 147.68. However, it still hesitates to achieve a decisive breakout that could invalidate the pattern. As the Asian session begins, EUR/JPY is trading around 147.95, down 0.06%. EUR/JPY remains skewed to neutral, although in the near term, will be tilted slightly to the downside. The Relative Strength Index (RSI) indicator shows a pause in the uptrend as the RSI is flat in the bullish zone, while the 3-day Rate of Change (RoC) is neutral. Although EUR/JPY spot price tests the head and shoulders neckline, the pattern remains intact. The confluence of the neckline and last year's high of 148.45 could make it difficult for buyers while being a good zone for EUR/JPY sellers. OANDA:EURJPY SELL EURJPY zone 148.00 - 148.10 SL: 148.35 TP: 147.00
Short
by DNA_TradingFX
1
EUR/USD: 16/05. Downtrend, ready sell?OANDA:EURUSD EUR/USD probes the boundaries of the 1.0910 barrier amid further downside correction in greenback and general improvement in sentiment around risk-related universe. Indeed, the pair picked up pace and further extended the rally from recent lows near 1.0855 despite sharp declines in US and German yields so far, while expectations of a temporary respite. stop the Fed normalization in June and raise interest rates further in June ECB for the next few months trending up. EUR/USD extends weekly rally and adds to Monday's promising price action, always with an immediate target of 1.0910. So far, the pair is up 0.17% at 1.0890 and a break through 1.1090 (weekly high April 26, 2023) will target 1.1110 (rounded high) on way to 1.1185 (weekly high March 21, 2022). Conversely, the next level of contention emerges at 1.0845 (monthly low May 15), followed by 1.0830 (monthly low April 10) and finally 1.0805 (100-day SMA). SELL EUR/USD zone 1.08950 - 1.09200 Stoploss 1.09500 Take Profit 1: 1.08500 Take Profit 2: 1.08000
Short
by DNA_TradingFX
1
GOLD: What is the price of gold tomorrow?TVC:GOLD Gold prices remain low around $2,000 as it searches for fresh clues to extending its three-week downtrend, especially after posting its first weekly loss in three weeks. In doing so, the yellow metal portrays market anxiety amid concerns about the US debt ceiling, as well as banking concerns. However, the unclear calendar and mixed updates from the Federal Reserve (Fed), as well as US government officials, have pushed XAU/USD lower ahead of important events/data of this week. Gold price depicts a bearish triangle formation on the Daily chart, currently between $2,030 and $2000. That said, bearish signals from the Moving Average Convergence and Divergence (MACD) indicator, as well as the steady Relative Strength Index (RSI), set at 14, also give see the next downtrend in XAU/USD. However, a clear break of the 2000$ support becomes necessary for Gold to move towards its theoretical target of around 1,900$. Canh SELL GOLD vùng giá 2022-2025 Stoploss: 2030 Take profit 1: 2017 Take profit 2: 2012 Take profit 3: 2006
TVC:GOLDShort
by DNA_TradingFX
Gold price next week?: Falling out of the 2000 zoneOANDA:XAUUSD Gold remained stagnant throughout the week, closing within the same price range as last week due to a $2,048 resistance and $2,001 support. There are concerns about the US debt ceiling expiration as talks have been postponed to next week. Additionally, there are worries about an economic slowdown as bank deposits in the US decrease. A sustained Buy Breakout move above $2,022 will help gold regain its position at $2,032-$2,038. Buy Sell Breakout at 2000 when the market shows signs of breaking through and close below this price range, stop loss at near 2011 resistance. Nearest target: 1995 - 1990 - 1983 BUY GOLD zone 1983 - 1980 Stoploss: 1975 Take profit 1: 1987 Take profit 2: 1992 Take profit 3: 2002
OANDA:XAUUSDShort
by DNA_TradingFX
GBP/USD: 12/05. Buyer's OpportunityGBP/USD remains on the defensive near 1.2530 even as it renews the intraday high ahead of the all-important UK Gross Domestic Product (GDP) data early Friday. Not only positioning ahead of the data, but optimistic market expectations and fears of a positive surprise also allowed the Pound to ease its recent losses. GBP/USD trades near the lower limit of the ascending retracement channel, currently at 1.2560. The 50-period simple moving average (SMA) also consolidated that support. In the event that the pair confirms it as resistance, then 1.2530 (100-period SMA) would align with the next downside target ahead of 1.2510 (psychological level, static level) and 1.2450 ( 200 period SMA). On the other hand, 1.2680 (static level) forms temporary resistance ahead of 1.2670 (midpoint of ascending retracement channel). A close above the four-hour close could attract buyers and prompt another move higher towards 1.2710. OANDA:GBPUSD
Long
by DNA_TradingFX
USD/JPY: 12/05. Bear attack, ENTRY SELLUSD/JPY hovers around 134.780 early Friday as it struggles to defend the previous day's bounce from a one-week low. The recent escalation of market concerns around the expiration of the US debt ceiling and the collapse of the bank, seems to allow the US Dollar to prepare for its first weekly gain in three weeks while pushing US Treasury yields fell for the third straight week. Given this, USD/JPY's hesitation seems justified amid a mild calendar at home. OANDA:USDJPY
Short
by DNA_TradingFX