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GC1! (Gold Futures)

GOLD stabilizes above EMA21 supportOANDA:XAUUSD market could see more volatility next week on news from the Federal Reserve and is expected to signal that it will not be ready to cut interest rates in June. Although expectations of loosening policy by the US Federal Reserve are fading, gold prices have also increased about 17% since February this year. Gold's strong performance is linked to central bank buying, and volatile geopolitical tensions. New inflation data reinforces the view that high interest rates are here to stay for now. The Fed's preferred gauge of core inflation, U.S. PCE data rose 0.3% in March and rose 2.8% year-on-year, unchanged from the previous month. Figures from the beginning of this year were also adjusted slightly upward. Worrying inflation data for three straight months suggests progress towards the central bank's 2% target has stalled and suggests the first round of interest rate cuts will continue to be delayed. Investors are expecting one or two rate cuts this year starting in November, but concerns are growing that the Fed may not reduce borrowing costs by 2024. Fed policy decisions and US nonfarm data will be the macro focus next week Next Friday, the U.S. Bureau of Labor Statistics will release its April jobs report. If U.S. nonfarm payroll growth slows significantly to below 200,000, that could trigger a sell off the US Dollar and cause an immediate positive reaction to gold prices. If nonfarm payroll growth is stronger than expected, especially if wage inflation data is hot, that could increase market expectations that the Fed will not act in September and put gold on the back foot. under pressure to reduce prices. Even if the data does not have a significant impact on expectations for a June rate cut, it could still weigh on the dollar if investors favor a policy change in September. The Chicago Mercantile Exchange's FedWatch tool shows that the market expects the probability of the Fed keeping policy rates unchanged in September to be 42.6%. Investors should also pay attention to other data including US ADP and the Fed's Monetary Policy Decision due on Wednesday, and Jobless Claims on Thursday. Economic data to watch next week Tuesday: US consumer confidence index Wednesday: ADP nonfarm payrolls, ISM manufacturing PMI, JOLTS vacancies, Fed monetary policy decision Thursday: Weekly unemployment claims Friday: Nonfarm Payrolls (NDP), ISM Services PMI, US April Unemployment Rate Analysis of technical prospects for OANDA:XAUUSD Gold has recovered after a period of sudden correction, taking support from the EMA21 level and the 0.236% Fibonacci retracement. Note to readers in last week's weekly issue and currently gold is also active at The position is quite positive, above the EMA21 and above the technical level of 2,322USD. Maintaining activity above the EMA21 level opens up the possibility of gold continuing to recover with last week's target at $2,365 still not achieved. Currently, the gold price still has all the technical conditions for a possible increase in price with main support at EMA21 and the 0.236% Fibonacci retracement level. However, gold will also face the possibility of further declines once it breaks below the 0.236% Fibonacci level, the downside target level could then reach the upper edge of the price channel, more than the 0.382% Fibonacci retracement level. Therefore, if long, open long positions should be protected behind the 0.236% Fibonacci level. Gold has a technical outlook that favors the possibility of an increase in gold prices. The technical levels will be noted and listed as follows. Support: 2,322 – 2,310 – 2,300 – 2,284USD Resistance: 2,345 – 2,365USD 🪙SELL XAUUSD | 2361 - 2359 ⚰️SL: 2365 ⬆️TP1: 2354 ⬆️TP2: 2349 🪙BUY XAUUSD | 2304 - 2306 ⚰️SL: 2300 ⬆️TP1: 2311 ⬆️TP2: 2316
OANDA:XAUUSD
by Xayah_trading
GOLD → The bears are selling off all the growth. 2250 ahead?FX:XAUUSD is forming a range of 2328 - 2295. The market sold off all the excitement formed on the background of Powell's comments yesterday. A bearish market structure is forming on D1. The area of 2328 is keeping the price down and plays the role of a strong key resistance. The bears (sellers) are quite strong and continue to gain momentum. The price is testing the range support. There is a possibility of support breakout with the subsequent decline, but for this there should be either technical or fundamental reasons. There may be a pullback before the news. Ahead of Initial Jobless Claims, traders are waiting for a negative scenario against the dollar, if the data is below 212K, the gold may continue its decline, if the IJC is above 212K, the gold will head towards 2328. Resistance levels: 2305, 2328 Support levels: 2295, 2280, 2267 The market is bearish, the correction is ongoing and gaining momentum. The market maker aims to go down to liquidity zones. But ahead of Initial Jobless Claims and tomorrow NonFarm Payrolls. Regards R. Linda!
FX:XAUUSDShort
by RLinda
2
GDP and PCE will be two important data for GOLD price trendsThe US Dollar Index is entering accumulation and recovering after 2 days of decline, making gold priced in US Dollars less attractive thanks to direct correlation. The near-term appeal of the precious metal remains weak as tensions in the Middle East ease and safe-haven demand weakens. The gold market has been less affected by the escalating conflict in the Middle East as developments have cooled down. What the market is interested in as well as the current trading question is whether this correction in gold prices will create a long-term downtrend, or simply a short-term decline. Directions and clues about the answer keep the market focused on the Fed and economic data. If inflation data continues to show stubborn, hot inflation could push the Fed to keep interest rates high for longer. Originally, the interest rate cut time had been pushed back by the market to September, previously expected to be June. This is not beneficial for gold, an asset that does not yield any yield. First-quarter GDP and core inflation will provide additional data on when the Federal Reserve will begin cutting interest rates. US gross domestic product (GDP) data will be released on (today) Thursday and the personal consumption expenditures (PCE) report will be released on Friday. US core PCE inflation, the Fed's preferred inflation measure, is expected to rise at a solid 0.3%, with the annual index falling to 2.6% from 2.8% in the month Two. Gold prices could face a sharp sell-off if core inflation data comes in higher than expected. Currently, traders expect the Fed to cut interest rates starting at its September meeting. Further signs of sustained price pressure will allow the Fed to maintain its stance of keeping interest rates on hold. at current levels over the long term. Theoretically, this scenario bodes well for the US dollar and US bond yields, while reducing the appeal of non-yielding gold. Analysis of technical prospects for OANDA:XAUUSD On the daily chart, gold is still struggling to maintain activity above the EMA21 level, and despite the recovery from the 2,310 – 2,300 – 2,284 USD support levels presented to readers in previous issues, the The recovery levels were quickly defeated and entered a state of accumulation. Temporarily, the market has not shown any signs of sudden changes to open a new trend structure, while technical conditions are still supporting the possibility of price increases with support from EMA21 and Fibonacci retracement 0.236. % as key support levels. If gold holds above $2,322 it will be a positive and the target level is then aimed at $2,334, more so than $2,365. On the other hand, a further bearish cycle will be unleashed once gold sells off below the 0.236% Fibonacci retracement level, so protection levels for open long positions should be protected below the 0.236% Fibonacci level. %. During the day, the technical outlook for gold prices remains supportive of upside with notable technical levels listed below. Support: 2,310 – 2,300 – 2,284USD Resistance: 2,322 – 2,334 – 2,365USD 🪙SELL XAUUSD | 2342 - 2340 ⚰️SL: 2346 ⬆️TP1: 2335 ⬆️TP2: 2330 🪙BUY XAUUSD | 2267 - 2269 ⚰️SL: 2263 ⬆️TP1: 2274 ⬆️TP2: 2279
OANDA:XAUUSD
by Xayah_trading
3
The Fed's favorite inflation gauge, GOLD trend conditionsUS GDP data for the first quarter of 2024 was lower than expected, increasing speculation that the Federal Reserve may reduce borrowing costs. However, inflation has risen sharply over the same period, which will delay the Fed's interest rate cuts. The U.S. Bureau of Economic Analysis reported on Thursday that U.S. gross domestic product (GDP) grew 1.6% year-on-year in the first quarter on a seasonally adjusted basis, below forecasts. 2.4% growth by economists surveyed by Dow Jones. GDP growth in the fourth quarter of last year was adjusted from 3.4% to 3.9%. Other data showed that the initial value of the US core PCE price index in the first quarter after seasonal adjustment was 3.7%, the estimate was 3.4% and the previous value was 2 .0%. The geopolitical situation also supports gold prices. The Israel Public Broadcasting Corporation reported on April 25 that Israeli Prime Minister Benjamin Netanyahu approved a plan to conduct ground operations in the city of Rafah in the southern Gaza Strip. In addition, after a two-week lull, Houthi forces launched attacks on US cargo ships and naval vessels. -According to Zerohedg- For gold, this price gain comes after a nearly 3% drop this week as markets downgraded assessments of rising tensions in the Middle East. Fed officials last week including Chairman Jerome Powell agreed, saying: "Recent data shows no further progress in inflation this year." Currently, as tensions in the Middle East gradually ease, safe-haven demand for gold remains weak in the short term. Looking ahead, the market will focus on March's core personal consumption expenditures (PCE) price index data, which will guide the next move of gold prices. If PCE inflation is higher than expected, it will signal pressure on gold prices and it is possible that gold will continue to sell off, while if PCE inflation continues to shrink, lower will be an important support for gold. with gold prices because it helps the case of the Fed cutting interest rates soon become more open. Analysis of technical prospects for OANDA:XAUUSD On the daily chart, gold continues to recover from the key support area that readers noticed throughout recent publications with key support from the EMA21 and the 0.236% Fibonacci retracement level. The 2,310 – 2,300 – 2,284 USD support levels produced bullish corrections and currently the price action position is also more positive for gold prices with price activity above EMA21 and the 2,322 USD technical point. However, for gold to continue to rise further it needs to break the $2,334 technical level to operate above this level and then target around $2,365, which is also the target bullish recovery level. weekly attention in weekly issue publication. Gold can only become more negative if it breaks below the 0.236% Fibonacci level, the downside could then reach the upper channel edge and more to the 0.382% Fibonacci level, so open long positions should be protection behind the 0.236% Fibonacci level and if this level is broken it means losing ground to buy. During the day, the technical outlook for gold prices is still tilted towards the possibility of price increases with the following technical levels being noticed again. Support: 2,310 – 2,300 – 2,284USD Resistance: 2,334 – 2,365USD 🪙SELL XAUUSD | 2349 - 2347 ⚰️SL: 2353 ⬆️TP1: 2342 ⬆️TP2: 2337 🪙BUY XAUUSD | 2299 - 2301 ⚰️SL: 2295 ⬆️TP1: 2306 ⬆️TP2: 2311
OANDA:XAUUSD
by Xayah_trading
2
GOLD → The price continues to decline. Is it 2250?FX:XAUUSD continues to decline and test new local lows. The fundamental background is negative and the decline may continue. Important events are ahead, everyone is waiting for Powell's speech. Bears finally hold the area of strong liquidity 2328, which only intensifies the price decline. At the moment the market is testing 2280. Today is a busy news day. Traders are highly likely to expect Powell to leave the interest rate unchanged today and may even change his tone to a more aggressive one, amid high inflation. This could strengthen the dollar, which would only exacerbate the fall in the gold price, which is already looking towards liquidity zones below 2267. Resistance levels: 2295, 2305 Support levels: 2267, 2250, 2228 The market is starting to put possible negative news into pricing. The fall may continue. But on the background of news the price is able to test the nearest resistance zones before further bearish impulse. Regards R. Linda!
FX:XAUUSDShort
by RLinda
13
GOLD → Correction continues, possible target 2250FX:XAUUSD continues to decline within the framework of corrective movement. Sellers are providing strong resistance and at the moment are not ready to let the price go above the key zones. GOLD → The bulls continue to fight back. Consolidation Earlier gold showed signs of strengthening, which in general the market evaluated positively and was ready to wait for the achievement of high targets, but as I said earlier it is not worth waiting for growth now. The market is interested in reaching the lower liquidity zones as well as in liquidation of traders in order to balance the market. On the background of consolidating dollar the price of gold is decreasing. The market is waiting for Powell's speech, who will give comments on interest rates. Traders lay in the situation the fact that Powell may give a tough comment on the current situation and leave the rate at the same level. Support levels: 2305, 2267 Resistance levels: 2328, 2344 Technically the correction continues. This correction is formed on the basis of both fundamental and technical reasons. This week is quite busy and it is worth paying attention to the news, which can determine the medium-term perspective. Regards R. Linda!
FX:XAUUSDShort
by RLinda
5
Stock market weakness affects goldGold retreated over $100 from its all-time highs established earlier this month. Interestingly, this move down follows a pullback of similar magnitude in the U.S. stock market, which we have repeatedly referred to as a threat to gold’s spectacular performance; one minor detail to point out here is that this time around, gold seems to be falling in reaction to what has been happening in the stock market, unlike in previous corrections throughout 2023 and 2024, when gold either preceded weakness in stocks or did not react to it. But now, the stock market appears to be at a critical point of either breaking down or staging a recovery, with many big names reporting their earnings this week, which can help to achieve one of these objectives. If corporate results do not meet investors’ expectations and, by any chance, there are significant downgrades to future guidance along with announcements of new layoffs, then it is unlikely the situation will calm investors’ nerves and lead to recovery. Contrarily, it is more likely to produce more fear among market participants, which could inadvertently lead to more selling in the stock market, accompanied by weakness in gold. Illustration 1.01 Illustration 1.01 shows the daily graph of XAUUSD and simple support/resistance levels derived from past peaks and troughs. The area between $2,000 and $2,075 acts as an important base in the case of a strong stock market selloff. Illustration 1.02 Illustration 1.02 depicts XAUUSD’s RSI on the weekly timeframe. The yellow arrow indicates a bearish crossover, a worrisome sign for gold. The same crossover can also be observed on the daily chart; besides that, Stochastic and MACD also reversed to the downside. Technical analysis gauge Daily time frame = Bearish Weekly time frame = Bullish (stalling with bearish signs) *The gauge does not necessarily indicate where the market will head. Instead, it reflects the constellation of RSI, MACD, Stochastic, DM+-, ADX, and moving averages. Please feel free to express your ideas and thoughts in the comment section. DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not serve as a basis for taking any trade action by an individual investor or any other entity. Your own due diligence is highly advised before entering a trade.
OANDA:XAUUSDShort
by Tradersweekly
2
XAUUSD Failed to reclaim the 4H MA50. Strong decline ahead.We expand on our April 15 idea (see chart below) on Gold (XAUUSD), where we discussed the 'necessity' for a medium-term technical pull-back based on its 5-year Cycles: As you can see that correction happened and the new Bearish Leg of the long-term Bullish Megaphone is well underway. The price got rejected both yesterday and on Friday on the 4H MA50 (blue trend-line), while forming the first 4H MA50/100 Bearish Cross since February 13 2024. We expect the 4H MA200 (orange trend-line) to be tested shortly but the correction shouldn't stop there. It will either take the long way within the dashed Channel Down towards 2200 or hit that level earlier within the more aggressive blue Channel Down that will seek the dashed bold Higher Lows trend-line. Either way, our medium-term Target is 2200. ------------------------------------------------------------------------------- ** 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. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
FX_IDC:XAUUSDShort
by TradingShot
3
GOLD → The bulls continue to fight back. Consolidation FX:XAUUSD is in consolidation after the beginning of correction on the background of profit-taking and also strong sell-offs. Technically, the price does not show hints to leave the descending channel in one direction or another, but there are preconditions that indicate that the gold may strengthen to the resistance of the correction channel before further falling. The fall may resume amid the beginning of the strengthening of the dollar index. Within the range and channel, it is worth using the range trading strategy and false breakout or bounce principles. Resistance levels: 2344, 2365 Support levels: 2328, 2305 The bulls are resisting within the correction, this may strengthen the price to 2350-2360, but in general the correction and price decline may continue as the market is still in a huge imbalance and the price still has not reached the key liquidity areas. Regards R. Linda!
FX:XAUUSDShort
by RLinda
11
GOLD recovers from key support areaOANDA:XAUUSD stabilized after hitting a more than two-week low as concerns about escalating tensions in the Middle East subsided, while investors await key economic data to further clarify the timing of US interest rate cuts. America. Israel stepped up its attacks on the Gaza Strip, its worst shelling in weeks, but fears of a wider conflict eased after Iran said last week it had no plans to retaliate for the attack. apparent Israeli drone strike, financial markets showed signs of increased risk appetite and sold off safe-haven assets. Markets are also paying attention to signals from the United States, with US inflation data and a Federal Reserve statement suggesting that there may not be an interest rate cut in June. Recent comments from Fed officials suggest there is no need to cut interest rates immediately, reducing the appeal of zero-coupon gold. Markets now expect the Fed's first rate cut will most likely come in September. Markets will closely monitor US GDP data on Thursday and personal consumption expenditures (PCE) data on Friday for further insight into the US economy and timing. In previous trading, the S&P Global PMI was weaker than expected, fueling speculation that the Federal Reserve could cut interest rates. This month, the manufacturing PMI index fell from 51.9 to 49.9. On the other hand, both the services and composite numbers fell to 50.9 from 51.7 and 52.1. According to the US Department of Commerce, other data for new home sales increased the most in six months, as building permits remained at a narrow level despite an upward revision of -3.7%. from -4.3%. The data helps gold prices recover but in general PMI data is not a data that can be used to guide the market so it will only work in the short term. Analysis of technical prospects for OANDA:XAUUSD After gold fell sharply and gained support from an important technical area for a medium-term uptrend sent to readers throughout the publication at the 0.236% Fibonacci retracement level and EMA21, it had the most recovery. stable and currently trying to hold above the $2,322 level. $2,322 is also a key technical level and if gold holds above it will likely continue to recover towards another key technical level of $2,365. Currently, technically speaking, gold still has all positive conditions with a medium-term trend from EMA21 and a long-term trend from the price channel. Meanwhile, the negative (bearish) case could widen further if the 0.236% Fibonacci retracement level is broken below and the target level then targets the upper edge of the price channel and beyond the 0.382% Fibonacci retracement level. . This means the protection levels for open long positions should be placed just behind the 0.236% Fibonacci level. During the day, the technical outlook for gold prices remains bullish with notable technical levels listed below. Support: 2,310 – 2,300 – 2,284USD Resistance: 2,334 – 2,365USD
OANDA:XAUUSD
by Xayah_trading
Middle East has few new points, GOLD adjustsDuring the Asian session on Monday (April 22), spot gold had a gap and opened lower, falling to a low of $2,370/ounce as of press time. Gold is mainly under pressure because tensions around Israel and Iran appear to have cooled, which has eased risk aversion, thus putting pressure on gold prices. On April 19 local time, Israeli Army Radio said Israeli security officials confirmed that Israel had launched an attack on Iran. Iranian state television on April 19 confirmed that an air defense system specifically designed to intercept drones east of Isfahan, Iran, intercepted three small drones that day. According to local military officials in Isfahan, this interception did not cause any casualties or damage. A senior Iranian official told Reuters on January 19 that reports of Israeli attacks on targets in Iran had not yet been confirmed and that Iran had no immediate plans to retaliate against Israel. According to the report, the above mentioned senior Iranian officials also expressed doubts about whether Israel was responsible. Iran: “Foreign sources about the incident have not yet been confirmed. We have not suffered any external attacks and discussions on this issue are more about infiltration than attack.” According to Reuters, Israeli leaders and the military remained silent. Iranian media's reaction to the attack was also silent. There are no new points in the development of geopolitical conflicts, all attacks are just in the media "literally called gangsters". There are no new points and no risk of escalation. Gold will be under selling pressure because it is considered a safe haven asset during market periods with many risks and especially geopolitical risks. On Thursday, the US Bureau of Economic Analysis (BEA) will release first-quarter gross domestic product (GDP) data. If US GDP data is stronger than expected, the US dollar could hold its ground and put pressure on gold. Surveys show that the initial quarterly real GDP rate in the United States in the first quarter is expected to increase 2.1%. According to CME Group's "FedWatch" tool, there is a less than 20% chance that the Fed will cut its policy rate by 25 basis points in June. On Friday, the US will release data on the personal consumption expenditures (PCE) price index for March, the Fed's preferred measure of inflation. The core U.S. PCE price index in March is expected to rise at an annual rate of 2.6%, compared with a 2.5% gain in February. Analysis of technical prospects for OANDA:XAUUSD On the daily chart, after gold dropped significantly this morning, it again received support from the technical level of $2,365. Note to readers in the previous issue and was limited by this level. . Temporarily, gold still has enough conditions to increase in price technically as the short-term uptrend remains stable with the price channel and support level at the technical point of 2,365 USD. Maintaining above 2,365 USD gives gold the ability to retest the 1% Fibonacci level at 2,382 USD. However, a break below $2,365 would open the door for a broader bearish correction with the target level then likely to be the 0.786% Fibonacci extension. Support: 2,336USD Resistance: 2,358 – 2,382 – 2,400 – 2,417 – 2,431USD 🪙SELL XAUUSD | 2414 - 2412 ⚰️SL: 2418 ⬆️TP1: 2407 ⬆️TP2: 2402 🪙BUY XAUUSD | 2335 - 2337 ⚰️SL: 2331 ⬆️TP1: 2342 ⬆️TP2: 2347
OANDA:XAUUSD
by Xayah_trading
Risks cool down, GOLD is sold off to a critical pointOANDA:XAUUSD have fallen sharply from recent highs due to the impact of reduced geopolitical risks and a stronger US Dollar. Federal Reserve officials, including Chairman Powell, have maintained a hawkish stance on interest rates, which has weighed on gold prices. Sentiment has changed as expectations for a Fed rate cut were revised to a potentially longer than previously expected June date. Iran downplayed the retaliatory Israeli drone strike on April 19, which was previously seen as an escalation of the conflict. Federal Reserve officials have made hawkish comments recently. Federal Reserve Chairman Jerome Powell said a lack of progress in fighting inflation is the reason interest rates must stay high for longer. Chicago Fed President Goolsby also agreed with Powell. Goolsby said progress on disinflation had "stalled". Notably, Goolsby is one of the most dovish members of the Federal Open Market Committee (FOMC). Investors now await the US personal consumption expenditures (PCE) report on Friday for further direction on the outlook for US interest rate cuts. In fact, in recent times, gold has been deeply affected by major and sudden events. The media war in the Middle East has caused gold to increase sharply followed by news that suddenly cooled the conflict. Sticking to a rigid trend is a mistake that takes a lot of time to correct. There are some people who have won by following the market risk and making purchases and then receiving certain profits. But when the risk suddenly disappears, not reacting in time or knowing but not accepting the change is a huge mistake that brings heavy losses. Analysis of technical prospects for OANDA:XAUUSD Gold has broken out of a short-term downtrend after breaking below the $2,365 level noted in the weekly edition and is now trading at a very important support area for the uptrend. medium term while maintaining price activity above EMA21. Meanwhile, if the 0.236% Fibonacci retracement level continues to be broken below gold will continue to be at risk of further declines with the target level then at the upper edge of the price channel and more than the 0.328% Fibonacci level. This means if open long positions are taken they need to be protected behind the 0.236% Fibonacci level. During the day, gold is expected to recover slightly but is not yet qualified for a strong price increase with notable technical levels as follows. Support: 2,284USD Resistance: 2,325 – 2,305USD 🪙SELL XAUUSD | 2364 - 2362 ⚰️SL: 2368 ⬆️TP1: 2357 ⬆️TP2: 2352 🪙BUY XAUUSD | 2282 - 2284 ⚰️SL: 2279 ⬆️TP1: 2289 ⬆️TP2: 2294
OANDA:XAUUSD
by Xayah_trading
XAUUSD. Levels for intraday trading .04.2024During the day you can trade from these price levels. Finding the entry point into a trade is up to you, depending on your trading style and the development of the situation. If you expect any medium-term price movements, then most likely they will start from one of the zones.Relevant to use as a location for installing TP. Levels are valid throughout the day, the date is in the title. The next morning I adjust the levels based on current data and publish a new post. The history of level development can be seen in my previous posts. They cannot be edited or deleted. Everything is fair. :) --------------------------------------- Levels are drawn before the European session, based on volumes and data from the CME. They are used as zones of interest for intraday trading. When approaching a level, a “reaction” is expected, which can be traded for both a rebound and a breakout. The worst option is if we revolve around the level in a flat. Do not reverse the market at every level. If there is a trend movement, consider it as an opportunity to continue the movement. Until the price has drawn a reversal pattern. TV does not allow publishing timeframes smaller than M15.Reactions to levels and the search for entry points are more convenient to look at M5-M1. Don’t forget to like Rocket and Subscribe!!!
OANDA:XAUUSD
by Forex_Hoby
GOLD → Correction before the news. A range is forming FX:XAUUSD on the background of dollar correction is strengthening to the resistance of the bearish channel, which was formed on the background of sell-offs. Ahead of strong news, on the background of which the price may reach the liquidity zone before further decline. On the high timeframe, a false breakdown of support is formed, liquidity gathering and after consolidation the price is heading towards the liquidity above. In general, the correction phase is not over yet. A sideways range may form within the price movement, but there is a high probability that the price on the background of CPI news will reach the channel resistance and form a bounce down. The global trend is bullish, the local trend is bearish. Fundamental background is neutral (for the moment). Resistance levels: 2344, 2359, 2365 Support levels: 2328, 2305 Buyers and sellers are dividing the price field between them. As gold stops and stabilizes, the price starts to pay attention to the dollar and the news. CPI is ahead which could increase volatility. Regards R. Linda!
FX:XAUUSDShort
by RLinda
12
USDJPY broke above the 152.00 resistance levelThe US dollar surged on Wednesday due to higher-than-expected US inflation numbers. This led to USDJPY reaching new highs for 2024 and its strongest level since 1990. The March Consumer Price Index report showed persistent inflation in the North American economy, reducing expectations for a June FOMC rate cut. Headline CPI increased by 3.5% YoY, surpassing forecasts and accelerating from February's 3.2%. The core gauge, which excludes volatile energy and food costs, also exceeded expectations at 3.8%, indicating a potential increase in price pressures. Wall Street reacted swiftly, pushing U.S. Treasury yields upwards across the board on bets that the Federal Reserve may be compelled to maintain a restrictive position for an extended period. Against this backdrop, the U.S. 2-year yield jumped more than 20 basis points, coming within striking distance from recapturing the 5.0% psychological mark. Traders also adjusted their view on the FOMC’s trajectory, pushing back on the timing and magnitude of future reductions in borrowing costs. That said, futures contracts now price in less than 40 basis points of easing for the year, with the first potential cut likely occurring in September. The table below shows current meeting probabilities. Fed Chair Powell recently downplayed inflation concerns at the Stanford Business, Government, and Society Forum. However, recent high CPI figures may prompt a reassessment of policy outlook and lead to more hawkish rhetoric, which could benefit the U.S. dollar. While the dollar may consolidate in the short term, it's uncertain if it can continue to appreciate against the yen as Japanese authorities may intervene to support their currency. OANDA:USDJPY TECHNICAL ANALYSIS USDJPY broke through resistance at 152.00, reaching its highest level since June 1990. Without intervention, speculators may attack the upper boundary of a medium-term ascending channel near 155.70. If prices fall below 152.00, support is expected at 150.90 and failure to defend this area could lead to a retracement towards the 50-day moving average at 150.00, with channel support near 149.25 being closely watched.
by Xayah_trading
2
GOLD → Bulls and bears still can't split the 2300 areaFX:XAUUSD is forming a sideways range and continues to test a strong resistance area. Bulls and bears continue to fight and still cannot share a strong area. Possible shake-up. Gold is in the active phase of the correction, which started as early as last Friday and we were ready for it. The price is already down 5.7% from the high and most likely this is not the limit. A descending price channel starts to appear on H1, which generally determines the medium-term outlook for us. Below the zone of 2330 a range is formed with the purpose of accumulation of potential. At the same time the price is testing resistance and there may be a shakeout or price entry into deeper liquidity areas with the purpose of further decline. Resistance levels: 2330, 2355, 2365 Support levels: 2305, 2290, 2267 The liquidity area on the resistance side may be tested with the aim of further decline, as the market is currently in a downward correction phase. Regards R. Linda!
FX:XAUUSDShort
by RLinda
5
XAUUSD. Zones for intraday trading 04/24/2024During the day I trade from these levels. The history of level development can be seen in my previous posts. They cannot be edited or deleted. Levels are drawn before the European session, based on volumes. Used as interest levels for intraday trading. When returning to the level, a “reaction” is expected, which can be traded both for a rebound from the level and for a breakdown of the level. The worst option is if we revolve around the level in a flat. TV does not allow publishing timeframes smaller than M15. It is more convenient to look at reactions to levels and search for entry points on m5-m1. Don’t forget to like Rocket and Subscribe!!!
OANDA:XAUUSD
by Forex_Hoby
GOLD → Sales may continue. Target 2150?FX:XAUUSD is moving out of the sideways range downward. The price is testing 2328 within the framework of correction on the background of news. Earlier, the structure of the bull market was broken, which in general can determine the medium-term potential. “GOLD → Bears win. Downward counter-trend correction ↓” The price is testing 2328, which is actively defended by sellers on the background of correction and sell-off wave. Yesterday the price of metal gained a little strength on the background of PMI, but the reaction may be already exhausted, it can be seen on the set-up relative to 2328. The technical downward movement may continue, as the nearest potential target on D1 may be the 2150-2175 area. Resistance levels: 2328, 2333 Support levels: 2316, 2305, 2267 The fall may continue. I pointed out the reasons for the fall yesterday and it is related to either stopping the rally or profit taking at 2400. The bullish structure is under threat, there is a strong sell-off in the market. Regards R. Linda!
FX:XAUUSDShort
by RLinda
5
🖥 GOLD MARKET ANALYSIS AND COMMENTARY - [April 22 - April 26]This week, OANDA:XAUUSD increased mainly due to escalating tensions between Iran and Israel. Gold prices recorded a fifth consecutive week of gains, the longest winning streak since January 2023. Despite strong gains in the dollar and bond yields, expectations of an interest rate cut in 2024 have faded. decline. Israel's response comes a week after Iran's drone and missile attacks on Israel pushed gold prices to a record high of over $2,426 an ounce. Recent statements from Fed officials suggest there is no rush to cut interest rates in the short term. This view is echoed not only by Federal Reserve Chairman Jerome Powell but also by John Williams of the New York Fed and Raphael Bostic of the Atlanta Fed). According to Kitco, in addition to persistent inflation, it is important to emphasize that the continuously tightening labor market reinforces the view of a strong economy, supporting the "soft landing" scenario, indicating that the The expected first interest rate cut will be delayed. It is worth noting that the market focus has shifted slightly from Fed policy to geopolitical risks, influencing investor strategies and gold pricing. Israel reportedly struck back at Iran on Friday morning, hitting a military site with drones, but it was limited and did not appear to cause much damage. Gold prices rose nearly 1.6% after concerns about widespread conflict in the Middle East disrupted global markets following the above event. Fed officials agree that interest rate cuts are not urgent. The market currently predicts the probability of an interest rate cut in September is about 67%. High interest rates make holding non-yielding gold less attractive. Next week is a week of little economic data of note, as traders focus on March U.S. new home sales on Tuesday and March durable goods on Wednesday. On Thursday, there will be the release of the first quarter US GDP report, quarterly PCE data, weekly initial jobless claims and pending home sales data. The week's most notable data will appear on Thursday. Analysis of technical prospects for OANDA:XAUUSD On the daily chart, gold remains stable with technical conditions supporting an upward price trend as reported to readers throughout recent publications. The short-term uptrend is noticed by the price channel and the medium-term trend is noticed by the EMA21. The weekly close above the 1% Fibonacci extension opens up the prospect of continued upside next week with a near-term target of $2,400 full price and beyond all-time highs. Currently, there are no notable resistance points to set expectations for a possible downward adjustment. If gold is sold off below 2,365 USD, it will have conditions to technically adjust downward to the target level. then at the 0.786% Fibonacci extension point. The trading plan for next week will consider buying if the price falls and adjusting to around 2320, and selling if the price increases to reach 2473. Looking ahead, gold remains tilted towards the bullish case and notable technical levels are listed below. Support: 2,382 – 2,365USD Resistance: 2,400 – 2,417 – 2,431USD
OANDA:XAUUSD
by Xayah_trading
GOLD → Bears win. Downward counter-trend correction ↓FX:XAUUSD is entering the correction phase. Earlier, based on technical and candlestick nuances on D1, I warned about the approaching decline. Gold is eliminating buyers and apparently heading towards 2267, 2228. April 19 idea: The market is getting ready to turn around, collecting liquidity from buyers On H1 the price is forming a bearish momentum, since the opening of the session on Tuesday, the price has overcome a 1.8% retracement. The reasons for the fall may be both profit taking in the 2400 zone, after which the market maker changed the course to liquidate traders and balance the market (I remind - at the moment the imbalance is in favor of buyers), and the correction after a strong rally, the price is heading downward in order to find strong support zones and form a market bottom. Resistance levels: 2300, 2305, 2328 Support levels: 2267, 2250, 2228 Today traders are waiting for PMI. Positive data for the dollar will only strengthen the fall of gold, but the negative PMI will weaken the strong fall. But, in general, at the moment, the medium-term course of the metal is clear to everyone. Regards R. Linda!
FX:XAUUSDShort
by RLinda
20