The short-term gold market is difficult to predictLast week, the Federal Reserve's preferred inflation measure was the newly announced personal consumption expenditure index (PCE). PCE increased 2.8% over the past 12 months, higher than expected.
The US central bank indicated in its latest meeting minutes that higher-than-expected inflation could force it to adjust the pace of its easing cycle. The market still predicts the Fed will cut interest rates by 25 basis points in December and will continue cutting until early 2025.
In addition to Trump's social media posts, markets will focus on key economic data this week such as jobs data. If the employment situation is not as expected, gold prices may increase again. A stronger labor market could make an interest rate cut unlikely this month.
Investors who record profits can rest assured. In the long term, market sentiment is quite optimistic. Many analysts believe that gold price will reach 3,000 USD/ounce next year.
🔥 XAUUSD BUY 2627 - 2625🔥
💵 TP1: 2640
💵 TP2: 2650
💵 TP3: OPEN
🚫 SL: 2618
Forexsignals
Xauusd weekly chart If Gold buyers fail to find acceptance above the 50-day SMA at $2,670 on a daily closing basis, sellers will likely jump back, sending the bright metal back toward the previous day’s low of $2,621
Gold retreats from the daily high it set above $2,660 but manages to stay afloat in positive territory at around $2,650
Confirm signal weekly
Gold now sell 2650
Support 2621
Support 2580
Resistance 2670
Resistance 2680
Bearish drop off 78.6% Fibonacci resistance?The Kiwi (NZD/USD) is rising towards the pivot which has been identified as an overlap resistance and could drop to the pullback support.
Pivot: 0.5984
1st Support: 0.5832
1st Resistance: 0.6062
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Could the price bounce from here?USD/JPY is falling towards the pivot which aligns with the 50% Fibonacci retracement and could bounce to the 1st resistance which has been identified as an overlap resistance.
Pivot: 149.33
1st Support: 146.85
1st Resistance: 151.60
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Bullish bounce off the overlap support?The Swissie (USD/CHF) is falling towards the pivot which acts as an overlap support and could bounce to the 1st resistance level.
Pivot: 0.8746
1st Support: 0.8632
1st Resistance: 0.8913
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Could the Cable reverse from here?The price is rising towards the pivot which aligns with the 38.2% Fibonacci retracement and could drop to the 1st support which acts as a pullback support.
Pivot: 1.2859
1st Support: 1.2616
1st Resistance: 1.3044
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Heading into 38.2% Fibonacci resistance?The Fiber (EUR/USD) is rising towards the pivot which has been identified as a pullback resistance and could drop to the 1st support which acts as a pullback support.
Pivot: 1.0662
1st Support: 1.0496
1st Resistance: 1.0776
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Potential bullish bounce?EUR/AUD is falling towards the support level which is an overlap support that aligns with the 38.2% Fibonacci retracement and could bounce from this level to our take profit.
Entry: 1.61696
Why we like it:
There is an overlap support level that lines up with the 38.2% Fibonacci retracement.
Stop loss: 1.60603
Why we like it:
There is a pullback support level that is slightly above the 78.6% Fibonacci retracement.
Take profit: 1.63624
Why we like it:
There is a pullback resistance level.
Enjoying your TradingView experience? Review us!
Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
Bearish drop?EUR/GBP is reacting off the support level which is a pullback support and could drop from this level to our take profit.
Entry: 0.8308
Why we like it:
There is a pullback support level.
Stop loss: 0.8338
Why we like it:
There is an overlap resistance level.
Take profit: 0.8260
Why we like it:
There is a pullback support level that aligns with the 161.8% Fibonacci extension.
Enjoying your TradingView experience? Review us!
Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
Bullish bounce off overlap support?NZD/CAD is falling towards the support level which is an overlap support that aligns with the 38.2% Fibonacci retracement and could bounce from this level to our take profit.
Entry: 0.82512
Why we like it:
There is an overlap support level that aligns with the 38.2% Fibonacci retracement.
Stop loss: 0.82005
Why we like it:
There is a pullback support level that lines up with the 61.8% Fibonacci retracement.
Take profit: 0.83265
Why we like it:
There is a pullback resistance level that lines up with the 78.6% Fibonacci retracement.
Enjoying your TradingView experience? Review us!
Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
Bullish bounce?EUR/NZD is falling towards the support level which is a pullback support that is slightly above the 78.6% Fibonacci projection and could bounce from this level to our take profit.
Entry: 1.77832
Why we like it:
There is a pullback support level that is slightly above the 78.6% Fibonacci projection.
Stop loss: 1.76626
Why we like it:
There is a pullback support level that aligns with the 127.2% Fibonacci extension.
Take profit: 1.79223
Why we like it:
There is an overlap resistance level.
Enjoying your TradingView experience? Review us!
Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
THE KOG REPORT - ELECTION SPECIAL - UpdateQuick update on our Election special chart which we posted prior to the election giving our view of what to expect in terms of movement in Gold.
The Red arrow was the projected path, the green arrow is real time movement.
Can quite honestly say it's worked well for us, not exact, but close enough when fine tuned with the red boxes, Knights inid, and of course Excalibur.
We'll keep tracking this.
Please do support us by hitting the like button, leaving a comment, and giving us a follow. We’ve been doing this for a long time now providing traders with in-depth free analysis on Gold, so your likes and comments are very much appreciated.
As always, trade safe.
KOG
GBPNZD BULLISH BIAS 1/12/2024Prices have pulled back to the 50 EMA on the daily chart, where there are numerous long lower wicks. This indicates that buyers have reacted and are preventing prices from falling below the 50 EMA.
This area aligns as a confluence point since it represents former resistance turned new support and coincides with the Fibonacci 0.382 level.
The Anchored Volume Profile also highlights this price level as the "Point of Control."
If a bullish engulfing candle forms, it would indicate positive momentum and could provide an opportunity to enter a trade.
gbpcad buying opportunity.OANDA:GBPCAD
buying opportunity for gbpcad. i always post after i get triggered on the retracement but usually price does not tap twice on the entry point thats why i have posted ahead of the time as i am gonna have entry on the retracment. the way i will enter is i am gonna be entering below the 50% of fibonacci retracement.
GBPUSDHello Traders! 👋
What are your thoughts on GBPUSD?
In the GBPUSD chart, it is observed that after breaking the support zone, the price is currently in a correction phase and pulling back towards the broken zone.
Considering the price structure and the descending trendline, it is expected that after reaching the identified resistance area, the price will resume its downward movement and target lower levels.
Don’t forget to like and share your thoughts in the comments! ❤️
EURCAD Strong medium-term buy opportunity.The EURCAD pair gave us an excellent sell signal last time (September 12, see chart below) that easily hit our 1.46550 Target:
This time we have a confirmed bottom just a week ago on the 0.786 Channel Fibonacci level, similar to the June 08 2023 bottom, both accompanied by a 1D MACD Bullish Cross.
As a result, we turn bullish on this pair targeting 1.5000, which is just below the 0.236 Channel Fib, similar to the July 18 2023 High.
-------------------------------------------------------------------------------
** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. **
-------------------------------------------------------------------------------
💸💸💸💸💸💸
👇 👇 👇 👇 👇 👇
Potential bullish bounce?GBP/JPY is currently reacting off the pivot which acts as a pullback support and could rise to the 1st resistance which acts as a pullback resistance.
Pivot: 190.67
1st Support: 189.08
1st Resistance: 192.28
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Gold confirm analysis read the caption Spot Gold remains lifeless below the $2,650 level on a quiet Thursday as investors gear up for an extended weekend. The batch of United States (US) macroeconomic data released on Wednesday anticipated the ongoing quietness, as all American markets are closed amid the Thanksgiving Holiday.
On a positive note, the bright metal finds support in mounting expectations that the Federal Reserve (Fed) will deliver another 25 basis points (bps) interest rate cut when it meets in mid-December. At the time, according to the CME FedWatch Toll, the odds are roughly 70%
Could the Kiwi reverse from here?The price is rising towards the pivot which acts as an overlap resistance and could drop to the 1st support which has been identified as an overlap support.
Pivot: 0.5937
1st Support: 0.5878
1st Resistance: 0.5974
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Falling towards overlap support?The Loonie (USD/CAD) is falling towards the pivot which is an overlap support and could bounce to the 1st resistance.
Pivot: 1.3951
1st Support: 1.3847
1st Resistance: 1.4036
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.