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Gold will likely decrease then increase againFrom a technical standpoint, gold's recent breakout above a week-long consolidative trading range, approximately around $2,048 , signals a favorable environment for bullish traders. Notably, the occurrence of a golden cross, where the 50-day Simple Moving Average (SMA) crossed above the 200-day SMA, adds weight to the positive outlook. This technical setup positions gold for potential further gains, with the $2,090 zone emerging as the next relevant hurdle. Should the momentum persist, there is a distinct possibility of gold reclaiming the psychologically significant $2,100 mark. However, the path to glory is not without its challenges. A reversal below the aforementioned trading range resistance could lead to a retracement, with support levels at $2,026 and $2,017. A decisive break below the latter might trigger technical selling, leaving gold vulnerable to a more pronounced decline towards the psychological support at $2,000.
TVC:GOLDLong
by carefulLion07pab
GBPUSD trading strategy todayThe technical analysis of the Pound to US Dollar (GBP/USD) pairing adds another layer to the narrative. The currency pair is currently approaching a critical support level at $1.265, representing a potential pullback point. This level aligns with a confluence of Fibonacci levels, including the 50.0% retracement and the 61.8% projection levels. This confluence could act as a substantial support zone, providing a platform for a potential bounce-back. For traders eyeing potential entry points, the advised buy entry is at $1.265, with this level considered a pullback support bolstered by Fibonacci confluence. Setting a strategic stop loss at $1.26000, just below the pullback support and the 61.8% Fibonacci retracement level, aims to mitigate potential downside risks. In terms of potential gains, the take profit level is set at $1.2800 which aligns with a pullback resistance.
Long
by NicoTradingMaster
AUDUSD is likely to fall then rise againThe AUDUSD witnessed a remarkable rebound this week, surging to the 0.6791 level on Thursday, marking the highest level since late July. After a failed attempt at the beginning of the month, the bulls finally broke above the resistance trendline dating back to April 2022, adding to the market's optimistic sentiment that the upward reversal from the year's low point in October may continue. The RSI and the stochastic oscillator align with this view, as they fluctuate around the 70 and 80 levels, respectively, without confirming overbought conditions. The 0.6791 level, which has restricted both upward and downward trends for over a year, is currently under scrutiny. If it gives way, the upward momentum could accelerate toward the 0.6800 level and then rise to the double-top formation at 0.6894 from June to July 2023. If bulls make further progress, the next resistance may emerge around the 0.6980 area. Alternatively, a downward correction may initially pause between the nearby support at 0.6655 and the breached resistance trendline. If this bottom holds, the asset might seek shelter near the exponential moving averages, currently situated between 0.6520 and 0.6600. Subsequent further declines could find stability around the 2020 ascending trendline at 0.6470 or lower near 0.6400. Afterward, attention might shift to the crucial 0.6269-0.6300 region. Overall, the AUDUSD maintains a bullish bias. While the recent strong rebound may slow down, bulls could focus on the 0.6830 area as the potential endpoint of the upward impulse waves in the coming trading days. In terms of trading strategy, buying the dips is recommended.
by carefulLion07pab
GBPUSD tends to decrease when it hits resistanceOn Wednesday, the GBPUSD fell sharply during the European session as UK inflation for November came in below expectations. The fresh weakness is expected to completely reverse Tuesday's gains and challenge key support at 1.2636. With the overall decline of the GBPUSD, bears are expected to test the starting point of the upward impulse waves. Subsequently, the bullish bias will still exist to keep the structure of "upward impulse waves" intact. But the focus is now on the downside. As the Relative Strength Index in the 4H timeframe fell below 50 and below the lower limit of the long-term rising regression channel, reflecting a shift in the technical outlook to bearish. On the downside, the 1.2600 level is now the first support level for the bullish market. A 4-hour close below this level could open the door to a further slide towards the 1.2550 level. It is recommended to go short at the highs.
Short
by carefulLion07pab
XAUUSD is trending downYesterday's gold price in the Asian session mainly fluctuated in a narrow range. At the beginning of the US session, the gold price quickly climbed higher on the weaker dollar index, and it once closed to 2047. However, pressured by the hawkish remarks and strong economic data, the gold price slightly retraced, ultimately closing with a small bull candle. The current gold price is in the upper edge of the fluctuation range of the last 2 weeks and temporarily faces resistance. Back to the technical analysis, the daily uptrend is obvious, but the MACD signal has been at a high level. The 1-hour price stood above the 60-day moving average. It may be aligned to the 60-day MA in the lack of main intraday drivers. The support at $2028 should be focused on, and further support is at the $2015 level. Today's reference trading range is 2015-2048, in which you can still buy low and sell high, and aggressive traders can refer to a smaller range of 2028-2040.
OANDA:XAUUSDShort
by carefulLion07pab
EURUSD trading ideas todayThe EURUSD lost momentum on Wednesday as concerns about the eurozone's economic outlook intensified. However, the intraday bias remains neutral and more consolidation is likely below 1.1008. A further rebound is expected as long as the 1.0722 support level is held. On the upside, a break above 1.1016 would resume the overall uptrend starting from 1.0450 and retest the high of 1.1274. From a broader perspective, the EURUSD is still hovering within a consolidation zone in 2023 with strong resistance at 1.1275 (a 17-month high) and support at 1.0450 (a 10-month low). If it breaks above the 200-week EMA, then it could touch the 200-week EMA at 1.1150 ahead of 1.1275. a move higher could shift the bias to bullish. However, any move below the 50-week and 100-week SMAs will cause it to fall to 1.0450, below which the psychological barrier of 1.0200 will be closely watched to prevent further declines. In the near term, the EURUSD could break below 1.0880 and the 4-hour 100 SMA at 1.0870 to add bearish pressure and turn bears' attention to 1.0825 until the December low at 1.0715. It is recommended to go short at the highs.
Short
by carefulLion07pab
GBPUSD trading strategy todayOn Wednesday, the GBPUSD fell sharply during the European session as UK inflation for November came in below expectations. The fresh weakness is expected to completely reverse Tuesday's gains and challenge key support at 1.2636. With the overall decline of the GBPUSD, bears are expected to test the starting point of the upward impulse waves. Subsequently, the bullish bias will still exist to keep the structure of "upward impulse waves" intact. But the focus is now on the downside. As the Relative Strength Index in the 4H timeframe fell below 50 and below the lower limit of the long-term rising regression channel, reflecting a shift in the technical outlook to bearish. On the downside, the 1.2600 level is now the first support level for the bullish market. A 4-hour close below this level could open the door to a further slide towards the 1.2550 level. It is recommended to go short at the highs.
Long
by carefulLion07pab
EURUSD tends to decrease when it encounters resistanceThe EURUSD appeared to be on firm footing on Monday after falling below the psychological barrier of 1.10 on Friday. However, the recovery is unlikely to last long as much weaker-than-expected German Ifo data and rising bearish momentum in the 1D timeframe are keeping the near-term trend under pressure. Additionally, last week's (1W timeframe) long upper shadow and the repeated failure of the weekly close to break above the 1.1000 threshold exacerbated the negative signals of the momentum. Currently, the price is holding above the 38.2% Fibonacci retracement of 1.0900 of the 1.0723 - 1.1009 uptrend line, which is expected to show a slight bullish bias, but more work on the upside (e.g., a close above 1.0950) would be needed to remove the downside threat; otherwise, a continuation of the bearish structure would be expected. It fell below the threshold of 1.0900 and the 20-day SMA (1.0875), which will likely lead to further declines after the completion of the reversal pattern and the double top. It is recommended to go short at the highs.
Short
by NicoTradingMaster
GOLD M30 / BULLISH CHANNEL, LONG OPPORTUNITY ✅ Hello Traders! This is my perspective for GOLD M30. As you can see, we are in a BULLISH CHANNEL, and I expect a move until the price of 2042. A good opportunity to execute a long trade. At the price of 2042 we have an OB and a resistance level at 2040, very interesting levels to take into consideration. Traders, if you liked my idea or if you have a different vision related to this trade, write in the comments. I will be glad to see your perspective. _________________________________ Follow, like, and comment to see my content: www.tradingview.com
TVC:GOLDLong
by GoodTradeST
EURUSD is trending downThe euro gained 1.08% to $1.0991, the highest since Nov. 29. It is on track for its biggest daily percentage gain since Nov. 14. The ECB kept rates steady and pushed back against bets on imminent cuts to interest rates on Thursday by reaffirming that borrowing costs would remain at record highs despite lower inflation expectations. “The ECB was unable to “out-dove” yesterday's pivot by the Fed. The ECB continues to signal that rate hikes are done but their updated economic projections show no reason to hurry towards less restrictive policy,” said Samuel Zief, head of global FX strategy at JPMorgan Private Bank in London.
Short
by TinaTradingGold
1
Gold trading trends and strategies todayFocusing on technical analysis, XAU/USD retains a bullish outlook, although its upward journey may encounter temporary setbacks. This means there could be transient pullbacks in the uptrend, especially if overbought conditions are reached. We are not there yet, but the 14-day RSI indicator is heading in that direction, In terms of major levels to watch, resistance looms at $2,050. On further strength, the focus shifts to May’s peak near $2,075. Previous attempts to breach this barrier on a sustained basis have been unsuccessful, so history could repeat itself on a retest. However, if a decisive breakout materializes, a rally toward the 2023 swing high becomes a realistic prospect. On the other hand, if upside momentum wanes and sellers spark a reversal, the first line of defense against a bearish attack appears at $2,010. Maintaining this floor is crucial; a failure to do so could reinforce downward pressure, exposing trendline support near $1,990. Below this threshold, all eyes will be on the 50-day simple moving average. TVC:GOLD SELL 2038 - 2040 ✔️TP1: 2033 ✔️TP2: 2028 🚫SL: 2048
TVC:GOLDShort
by TinaTradingGold
Gold trading ideasGold rose to around $2,030 an ounce on Thursday, hitting its strongest levels in a week as the dollar and Treasury yields weakened sharply after the US Federal Reserve held interest rates steady and signaled three rate cuts in 2024. Fed officials expect to lower rates by 75 basis points in 2024, more aggressive than indicated in September’s projections, and forecast softer inflation this year and next. Markets are now pricing in a more than 70% chance of a Fed rate cut in March next year. Investors now look ahead to policy decisions from other major central banks including the European Central Bank and the Bank of England. OANDA:XAUUSD SELL 2038 - 2036 ✔️TP1: 2033 ✔️TP2: 2028 🚫SL: 2041
OANDA:XAUUSD
by TinaTradingGold
EURUSD is trending downThe Federal Reserve is expected to leave interest rates on hold in a decision at 1900 GMT, and how the dollar moves afterward will depend on whether policymakers counter recent growing expectations for rate cuts next year, UniCredit Research analysts say in a note. UniCredit doesn't expect the Fed to "push back firmly against recent market expectations of aggressive rate cuts," which means EUR/USD could stabilize above 1.08. However, if the Fed suggests rate-cut expectations are overdone, the DXY dollar index should rally further above 104 and EUR/USD would retreat, albeit likely staying above 1.07, UniCredit says. EUR/USD trades flat at 1.0790 while the DXY rises 0.1% to 103.924.
Short
by TinaTradingGold
Today's gold trading strategyGold was subdued around $1,980 an ounce on Wednesday, holding near its lowest levels in three weeks as investors cautiously awaited the US Federal Reserve’s interest rate decision. The US central bank is widely expected to hold rates steady, but traders will focus on Fed Chair Jerome Powell’s commentary amid bets of rate cuts in the first half of 2024. Still, a robust US jobs report and upside risks to inflation could prompt policymakers to take a less dovish stance than what market participants anticipate. Meanwhile, data released on Tuesday showed that US consumer inflation figures for November came largely in line with forecasts. Investors also look ahead to monetary policy decisions from the European Central Bank and the Bank of England on Thursday. OANDA:XAUUSD XAUUSD BUY 1977 - 1975 ✔️TP1: 1982 ✔️TP2: 1987 🚫SL: 1970
OANDA:XAUUSDLong
by TinaTradingGold
EURUSD is likely to rise againThe Indian rupee opened marginally higher on December 12 tracking gains in local equity and Asian currencies. At 9.10am, the home currency was trading at 83.37 a dollar, up 0.03 percent from its previous close of 83.39. Traders awaiting CPI and IIP data due later today. India's headline inflation rate likely jumped to 5.8 percent in November from October's 4.87 percent, according to a Moneycontrol survey of 15 economists, with an unfavourable base effect and resurgence in prices of vegetables and pulses propelling inflation to a three-month high. Follow our market blog to catch all the live updates Recent US economic data surpassed expectations, showcasing a drop in unemployment claims from 3.9 percent to 3.7 percent. Non-farm payrolls hit 199K and average hourly earnings rose by 0.4 percent, outperforming projections. As a result, expectations for rate cuts in March and May decreased to 43 percent and 76 percent from 63 percent and 85 percent respectively. Attention now shifts to the Federal Reserve's upcoming monetary policy, with signs pointing towards the Fed taking the lead in rate-cut initiatives, traders said. Asian currencies were trading higher. Japanese yen was up 0.38 percent, Thai Baht rose 0.23 percent, China Offshore 0.12 percent, Singapore dollar 0.1 percent, South Korean won and Philippines peso 0.08 percent each. The dollar index, which measures the US currency’s strength against major currencies, was trading at 104.0032, down 0.09 percent from its previous close of 104.095.Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
Long
by TinaTradingGold
Gold trading ideas todayThere was little oscillation during the Asian session last Friday. After ascending to $2034, gold plummeted below $2000 after the employment data was released. Moreover, gold once reached $1995, and then rebounded above $2000 after gaining support, ending the two consecutive gains with a big bearish candle, and returning to a weak pattern. At present, gold fell from highs and lost the previous gain in the weekly chart, indicating a downward bearish signal. Nonetheless, gold showed an oversold pattern in the 1H chart, and the MACD located at the oversold area to form a golden cross, suggesting a possible rebound in the 1H chart today. Thus, investors should focus on the resistance near $2009, and aggressive investors can go short with small positions there. Today, the trading range will be from $1986 to $2009, in which investors can buy low and sell high. TVC:GOLD XAUUSD SELL 1996 - 1998 - 2000 ✔️TP: 1086 🚫SL: 2005
TVC:GOLDShort
by TinaTradingGold
EURUSD tends to decrease when it meets support and will increaseEUR/USD rallied vigorously last month, but has sold off in recent days, with prices slipping and closing below the 200-day moving average last week – a bearish technical event. If the pair deepens its pullback in the coming days, a retest of the 50-day SMA could come any minute. Continued weakness may shift focus towards trendline support near 1.0620. Conversely, if EUR/USD stages a turnaround and charges higher, technical resistance is visible near 1.0820, but further gains could be in store on a push above this threshold, with the next area of interest at 1.0960, the 61.8% Fibonacci retracement of the July/October decline. Continued strength may catalyze a retest of November’s highs.
Short
by TinaTradingGold
Gold broke the upward price channel and tended to decreaseGold edges higher in the early morning Asian session in a likely position adjustment, with focus on U.S. CPI data and the FOMC meeting this week. The precious metal is still holding above $2,000/oz, a key short-term support level, Fawad Razaqzada, market analyst at City Index and forex.com, says in an email. Gold has to hold this level in order to sustain its recent bullish bias, Razaqzada says. Otherwise, there could be a deeper retracement, with subsequent major support in the $1,950/oz area, which includes the 200-day average, Razaqzada adds. Spot gold is up 0.1% at $2,006.58/oz. OANDA:XAUUSD XAUUSD SELL 2008 - 2010,2018-2020 ✔️TP1: 2003 ✔️TP2: 1998 🚫SL: 2025
OANDA:XAUUSDShort
by TinaTradingGold
Today's gold trading ideaYesterday, gold prices edged higher to $2036 in the Asian session and then fell rapidly to around $2017. After gaining support, gold prices rebounded to around $2025 and finally closed with a small bull candle, which also ended the 2 consecutive declines. The market began to stabilize. Investors who want to go short need to be cautious and should not chase the market to sell low. Instead, they should go short with small positions after a rebound. At the daily level, as the MACD formed a death cross at a high level, the retreat is still not over. However, a golden cross is likely to show in the 4-hour chart. If gold can rebound to around $2052 and form a local head and shoulders top pattern, perhaps the daily pullback will be smoother. The upper edge of volatility range should be higher today. The resistance is near $2041, with further resistance at the shoulder position of $2052. Today's reference trading range is $2017-$2041, and aggressive traders can buy low and sell high in the range. ❌❌❌: Close all orders when there is news. OANDA:XAUUSD XAUUSD SELL 2038 - 2040 ✔️TP1: 2033 ✔️TP2: 2028 🛑SL: 2045
OANDA:XAUUSDShort
by TinaTradingGold
EURUSD is likely to fall, touching supportThe euro EURUSD inched 0.07% lower to $1.0757, its lowest point since Nov. 14. The single currency is down 1% this week and is on course for the steepest weekly decline since May. Traders are betting that there is about an 85% chance that the ECB cuts interest rates at the March meeting, with almost 150 basis points' worth of easing priced by the end of next year. The question of a rate cut could emerge in 2024, ECB member and Bank of France head Francois Villeroy de Galhau told a French paper in an interview published on Wednesday. Villeroy said that "disinflation is happening more quickly than we thought". The ECB will set interest rates on Thursday next week and is all but certain to leave them at the current record high of 4%, although the focus will be on comments from officials about rates outlook. A slim majority of economists in a Reuters poll expect the ECB to cut rates in the second quarter of next year, earlier than previously thought, with a new tug of war on the exact timing of the first cut emerging. The dollar has found its footing this month after a 3% drop in November as traders ramp up rate cut bets for other central banks.
Short
by TinaTradingGold
GBPUSD has an upward trendGBP/USD fell on Tuesday, extending its drop for a second consecutive day after failing to clear a key ceiling near 1.2720, which corresponds to the 61.8% Fibonacci retracement of the July/October slump. Should losses deepen this week, it is important to watch how prices behave around the 1.2590-1.2570 support zone, bearing in mind that a breakdown could expose the 200-day simple moving average. Conversely, if cable manages to rebound from current levels, technical resistance is positioned at 1.2720. Cementing the underlying bullish outlook requires the pair to take out this hurdle on daily closing prices, with a decisive breakout likely to draw fresh buyers into the market and foster conditions conducive to a rally above 1.2800.
Long
by TinaTradingGold
Gold trading strategy todayYesterday, gold prices saw an inverted deep V-shape reversal. Gold prices surged sharply higher in morning trading, hitting an all-time high of 2145. Subsequently, they fluctuated downwards, stopped falling around 2020, and finally closed with a full bear candle with a long upper shadow. At this point, the gold price trend has also shown signs of a top, forming a bearish piercing pattern. At the same time, the signs of bearish divergence have not changed. The MACD indicator on the daily chart is in the overbought area and tends to form a death cross. But judging from the hourly chart, after yesterday's plunge, the MACD indicator has entered the oversold area and has formed a golden cross. During the day, gold prices may rebound at the hourly level, and the specific strength of the rebound depends on the momentum. Investors could temporarily expect a slight rebound in the Asian session, and strong resistance is in the 2050 area where we can enter short positions. The first support level is around $2020, and further support is at $2010. The reference trading range today is 2010-2050, and it is recommended to buy low and sell high and pay attention to controlling losses. TVC:GOLD XAUUSD BUY 2008 - 2006 ✔️TP1: 2014 ✔️TP2: 2018 🚫SL: 2003
TVC:GOLD
by TinaTradingGold
EURUSD is trending downEUR/USD rallied vigorously in November, but has started to retrace some of that advance in recent days, with bearish pressure easing as prices tested the 200-day simple moving average. It is important for bulls to defend this technical indicator, which currently symbolizes support; a failure to do so could result in a decline toward 1.0765, followed by 1.0650. On the flip side, if the common currency regains the upper hand against the greenback and stages a meaningful comeback, technical resistance looms at 1.0960 – the 61.8% Fibonacci retracement of the July/October decline. Sustained strength could lead to revisiting November's peak, followed by a move towards horizontal resistance at 1.1080 upon a breakout.
Short
by TinaTradingGold