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Gold seems to be preparing for a correction from its record highThe US dollar (USD) maintains an adjustment regime, reflecting a decline in US Treasury yields. Chinese stocks have rebounded after the People's Bank of China (PBOC) lowered the one-year loan prime rate (LPR) from 3.35% to 3.10%. Although the market's initial reaction was not strong, there are still expectations for further stimulus measures from China. This optimism, combined with ongoing tensions between Israel and Iran, has supported gold prices. Personal opinion: The US dollar's adjustment regime reflects economic volatility. The PBOC's interest rate cut aims to boost China's growth, but the market's weak reaction shows caution due to geopolitical tensions, like those between Israel and Iran. This situation compels investors to tread carefully, especially with gold prices supported by these uncertainties. Pay attention to the price range: Buy Zone: 2704 - 2702 SL: 2697 Buy Scalp: 2719 - 2717 SL: 2712 Sell Zone: 2748 - 2750 SL: 2755
OANDA:XAUUSDLong
by Chana-Trading
1
GOLD 1H & 4H CHART ROUTE MAP UPDATEHey Everyone, Great start to the week with our 1H chart hitting two bullish targets 2730 and 2739 and one remaining at 2747, which will be further confirmed with ema5 lock above 2739. 1H CHART ROUTE MAP This 4H chart had ema5 lock above 2715 opening 2737, which was also hit perfectly completing this setup. A PIPTASTIC start to the week!!! We will now look for ema5 lock above 2737 to confirm the range above or failure to lock will follow with a rejection to test lower Goldturns for our reactional bounces. We will keep the above in mind when taking buys from dips. Our updated levels and weighted levels will allow us to track the movement down and then catch bounces up. We will continue to buy dips using our support levels taking 30 to 40 pips. As stated before each of our level structures give 20 to 40 pip bounces, which is enough for a nice entry and exit. If you back test the levels we shared every week for the past 24 months, you can see how effectively they were used to trade with or against short/mid term swings and trends. BULLISH TARGET 2737 (EMA5 LOCK ABOVE 2715 WILL FURTHER CONFIRM THIS) - DONE EMA5 CROSS AND LOCK ABOVE 2737 WILL OPEN THE FOLLOWING BULLISH TARGET 2760 POTENTIALLY 2779 EMA5 CROSS AND LOCK ABOVE 2779 WILL OPEN THE FOLLOWING BULLISH TARGET 2797 POTENTIALLY 2814 BEARISH TARGETS 2715 2693 EMA5 CROSS AND LOCK BELOW 2693 WILL OPEN THE FOLLOWING BEARISH TARGET 2669 EMA5 CROSS AND LOCK BELOW 2669 WILL OPEN THE SWING RANGE SWING RANGE 2640 As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Thank you all for your likes, comments and follows, we really appreciate it! Mr Gold GoldViewFX
OANDA:XAUUSD
by Goldviewfx
8
Market News Report - 20 October 2024While it was a mild week, the US dollar was again among the strongest currencies. Other ones include CAD and GBP, while NZD was among the weakest. Let's dive into what we should expect for each major forex market in our latest fundamental report. Market Overview Below is a brief technical and fundamental analysis breakdown for all major currencies. US dollar (USD) Short-term outlook: bearish. Despite a recent 50 basis points (bps) rate cut, the Fed may not need to cut rates as aggressively going forward. This is partly due to positive job numbers and earnings data that exceeded expectations. Still, the central bank has signalled the potential for two 25 bps drops by the end of this year. Meanwhile, a 50 bps cut has pretty much been priced out, with STIR (short-term interest rate) markets seeing a 14% chance of a hold next month. The Dixie continues to head north after weeks of ranging around the key support area at 100.157. We have spoken about a potential technically-driven retracement (despite the bearish fundamentals). Meanwhile, the key resistance is far away at 107.348, which will remain untouched for some time. Long-term outlook: weak bearish. The latest strong NFP report has raised expectations for a 25 bps rate cut (instead of 50 bps), which is giving USD a boost in the near term. So, there is no extreme dovish pricing anymore. While the bearish bias remains, the dollar may gain amid a broad pullback. This idea could prove even more relevant if Donald Trump wins the upcoming election. Euro (EUR) Short-term outlook: bearish. The STIR markets were predictably accurate as the European Central Bank (ECB) cut the interest rate last week. However, they remain data-dependent on what to do in the future (although they are quite concerned about slow growth). Also, the past week saw weaker economic data across various European nations. Finally, short-term interest rate markets have indicated an 83% chance of a rate cut in December. The euro has finally made its bearish intention known on the charts after spending weeks near the resistance at 1.12757. It is close to the key support at 1.07774. Long-term outlook: bearish. The latest rate cut and the avoidance of indicating a clear future move for the December meeting are among the key down-trending factors. Furthermore, a threat of a trade tariff with Trump could be negative. Couple this with potential USD strength, and we have a clear bearish bias for the euro. British pound (GBP) Short-term outlook: bearish. The Bank of England (BoE) kept the interest rate steady in its recent meeting. Still, the language indicates they need to be “restrictive for sufficiently long.” Also, the central bank's higher-ups stressed "a gradual need" to cut rates. As with the ECB, the central bank's current key theme is fighting persistent inflation in the United Kingdom. So, it makes more sense to be dovish than hawkish. Not long ago, Governor Bailey hinted that "aggressive rate cuts" were possible if inflation went lower. We mentioned that the current retracement may be the start of a more serious bear move. So far, that's what the pound is experiencing. The nearest key support is at 1.26156, while the resistance target is 1.34343. Long-term outlook: weak bearish. Sequential rate cuts by the BoE may soon be a reality. Also, weak CPI, labour, or GDP data should be expected to back up the bearish bias. However, the central bank hopes for lower service inflation, which may provide relief. Another interesting point is the latest CFTC (Commodity Futures Trading Commission) report, showing that GBP longs have been stretched to the upside. So, bullishness should be limited at some point. Japanese yen (JPY) Short-term outlook: bullish. The primary bullish catalyst is the Bank of Japan’s (BoJ) recent decision to hike the interest rate. STIR markets expect a hold at the next meeting but a hike at the start of next year. ​​Governor Ueda of the BoJ noted that despite domestic economic recovery, recent exchange rate movements have reduced the upside risk of inflation (which has been on an upward trajectory). All of this backs up the potential for a rate hold or hike. The 139.579 support area is proving quite strong, boosting the yen since mid-September. Still, the major resistance (at 161.950) is too far for traders to worry about. Long-term outlook: weak bullish. Lower US Treasury yields are one potential bullish catalyst for the yen (the opposite is true). Inflation pressures and wage growth would also provide upward momentum. We should also consider that the dovish tendencies of other major central banks and worsening US macro conditions are JPY-positive Still, as a slight downer, near-term inflation risks subsiding (according to the BoJ) reduce the urgency for a rate hiking cycle. Australian dollar (AUD) Short-term outlook: weak bullish. The Reserve Bank of Australia (RBA) kept the interest rate unchanged during the Sept. 25 meeting. They further stated that they "did not explicitly consider rate hikes" for the future, which is a marginally dovish statement. The Aussie remains sensitive to China’s recent economic woes. However, high iron prices have supported the former. Finally, recent positive unemployment data gives a base case for a hold in the next RBA interest rate meeting. After failing to break the 0.69426 resistance level several times, the Aussie has retraced noticeably from this area. Still, this market is bullish and far from the major support level at 0.63484. Long-term outlook: weak bullish. While the RBA hasn’t ruled anything out, the central bank isn’t explicitly suggesting rate hikes in the future. It’s crucial to be data-dependent with the Aussie, especially with core inflation as the RBA's key focus area. However, the Australian dollar is pro-cyclical, meaning it is exposed to the economies and geopolitics of other countries, especially China. New Zealand dollar (NZD) Short-term outlook: bearish. Unsurprisingly, the Reserve Bank of New Zealand (RBNZD) cut its interest rate by 50 bps recently and sees further easing ahead. This affirms another cut next month of potentially the same magnitude. Furthermore, the central bank is confident that inflation will remain in the target zone, adding more impetus to the bearish bias. Due to the rate cut, the Kiwi has been on a downward spiral, proving the strength of the major resistance level at 0.63696. Conversely, the major support is at 0.58498. Long-term outlook: bearish. The central bank's latest dovish stance (where it cut the interest rate) firmly puts the Kiwi in a 'bearish bracket.' They also revised the OCR rates lower and signaled steady winnings in the inflation battle. Canadian dollar (CAD) Short-term outlook: bearish. The Bank of Canada (BoC) recently dropped the interest rate to 4.25%, as anticipated by the markets for some time. Further cuts in the next few meetings are on the cards, with the long-term target being 3%. Unemployment, weak economic growth, and mortgage stress are the key drivers for this dovishness. Watch out for the new interest rate for CAD on Wednesday, where a 50 bps cut is predicted (77% chance). While the short-term fundamental biases of USD and CAD are bearish, CAD is weaker on the charts. USD/CAD is making a steady uptick towards the key resistance at 1.39468, while the key support lies down at 1.33586. Long-term outlook: weak bearish. Expectations of a rate cut remain the focal point. Governor Macklem himself stated a while ago that it's reasonable to expect more cuts in the future. Any big misses in upcoming GBP, inflation, and labour data will send CAD lower. Also, mortgage stress remains a major factor in this interest rate policy, and the BoC will have to cut rates to alleviate it. Still, encouraging oil prices and general economic data improvement would save the Canadian dollar's blushes. Swiss franc (CHF) Short-term outlook: bearish. STIR markets were, as usual, correct in their 43% chance of a 25 bps rate cut (from 1.25% to 1%) recently. In the Sept. 26 meeting, the Swiss National (SNB) indicated its preparedness to intervene in the FX market and further rate cuts in the coming quarters. The central bank's new Chair (Schlegel) said they "cannot rule out negative rates." Finally, the September CPI came in weak at 0.8%, against the expected year-on-year 1.1%. Still, the Swiss franc can strengthen during geopolitical tensions, such as a worsening Middle East crisis. USD/CHF has just broken out of the range (but only just) discussed in our last few reports. While remaining largely bearish, this market could return closer to the major support level at 0.83326 or climb its way to the higher major resistance level at 0.92244. Long-term outlook: weak bearish. The bearish sentiment remains after the last SNB meeting, while inflation is being tamed with lower revisions. We should also remember that the SNB's intervention prevents the appreciation of the Swiss franc. The new chairman is more keen to cut rates than his predecessor, Jordan. STIR markets are currently pricing a 23% chance of a 50 bps cut at the December meeting. On the other hand, 'safe haven flows' and geopolitical risks can be positively supportive of the currency. As with other central banks, inflation is a crucial metric in the SNB's policy rates. Conclusion In summary: This week's main high-impact news event is Wednesday's CAD interest rate decision. Our short and long-term fundamental outlooks remain unchanged from the last few weeks. As always, hope for the best and prepare for the worst. This report should help you determine your bias toward each currency in the short and long term.
TVC:DXY
by CityTradersImperium_CTI
EURUSD Analysis Week 43🌐Fundamental Analysis The European Central Bank (ECB) cut its key interest rate by 25 basis points (bps) as expected after its October policy meeting. In its policy statement, the ECB noted that it will continue to pursue a data-dependent and meeting-by-meeting approach to determine the appropriate level and duration of policy accommodation. In her post-meeting press conference, ECB President Christine Lagarde acknowledged that economic activity in the Eurozone has been weaker than expected. On the inflation outlook, Lagarde said low confidence, geopolitical tensions and low investment pose downside risks to inflation. Lagarde's dovish tone kept the euro under pressure in the second half of Thursday. The economic calendar will not feature any high-impact data on Friday. Meanwhile, US stock index futures traded in positive territory during the European session. 🕯Technical Analysis EURUSD has recovered at the end of the week after consecutive bearish pullbacks. The downtrend is still showing no signs of stopping as the bullish waves are still relatively weak. At least the pair must recover and close above the 1.095 area to be considered a broken downtrend. Watch the resistance zone when the price recovers around 1.095 and 1.103 for SELL signals. The extended pullback of the pair may extend to 1.072 before the bulls can jump in to prevent the pair from continuing to slide. 📈📉Trading Signals BUY EURUSD 1.07200-1.07000 Stoploss 1.06800 SELL EURUSD 1.09500-1.09700 Stoploss 1.09900
by TVS-Trader
7
Abbott Labs Shakes Off Downtrend, Sets Sights on $142 milestoneIn December 2021, the stock price hit an all-time high near the 142 mark, after which it experienced a significant drop. Following this decline, the price found support around the 90 level and began to recover. Last week, the stock managed to break through the upper boundary of the descending parallel channel, setting the stage for additional upward momentum. An immediate resistance level is noted at the 122 level, and a substantial movement is expected if this level is surpassed.
NYSE:ABTLong
by NaranjCapital
GOLD 1H CHART ROUTE MAP & TRADING PLAN FOR THE WEEKHey Everyone, Please see our updated 1h chart levels and targets for the coming week. We are seeing price between two weighted levels. We have 2730 Goldturn resistance and 2719, as Goldturn support. We currently have a gap above on market open at 2730 and below at 2719 and will need ema5 cross and lock on either weighted level to determine the next range. We will see levels tested side by side until one of the weighted levels break and lock to confirm direction for the next range. We will keep the above in mind when taking buys from dips. Our updated levels and weighted levels will allow us to track the movement down and then catch bounces up. We will continue to buy dips using our support levels taking 30 to 40 pips. As stated before each of our level structures give 20 to 40 pip bounces, which is enough for a nice entry and exit. If you back test the levels we shared every week for the past 24 months, you can see how effectively they were used to trade with or against short/mid term swings and trends. BULLISH TARGET 2730 EMA5 CROSS AND LOCK ABOVE 2730 WILL OPEN THE FOLLOWING BULLISH TARGET 2739 2747 BEARISH TARGETS 2719 EMA5 CROSS AND LOCK BELOW 2719 WILL OPEN THE FOLLOWING BEARISH TARGET BEARISH TARGET 2706 EMA5 CROSS AND LOCK BELOW 2706 WILL OPEN THE RETRACEMENT RANGE RETRACEMENT RANGE 2692 - 2682 EMA5 CROSS AND LOCK BELOW 2682 WILL OPEN THE SWING RANGE SWING RANGE 2673 - 2661 As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Thank you all for your likes, comments and follows, we really appreciate it! Mr Gold GoldViewFX
OANDA:XAUUSD
by Goldviewfx
13
GOLD 4H CHART ROUTE MAP & TRADING PLAN FOR THE WEEKHey Everyone, Please see our updated 4h chart levels and targets for the coming week. We are seeing price between two levels. We have 2737 Goldturn resistance and 2715, as Goldturn support. We currently have a candle body close above 2715 opening 2737 on market open but ema5 cross and lock will further confirm this and below at 2715, non weighted support and 2693, as weighted support level. We will need ema5 cross and lock on either weighted level to determine the next range. We will see levels tested side by side until one of the weighted levels break and lock to confirm direction for the next range. We will keep the above in mind when taking buys from dips. Our updated levels and weighted levels will allow us to track the movement down and then catch bounces up. We will continue to buy dips using our support levels taking 30 to 40 pips. As stated before each of our level structures give 20 to 40 pip bounces, which is enough for a nice entry and exit. If you back test the levels we shared every week for the past 24 months, you can see how effectively they were used to trade with or against short/mid term swings and trends. BULLISH TARGET 2737 (EMA5 LOCK ABOVE 2715 WILL FURTHER CONFIRM THIS) EMA5 CROSS AND LOCK ABOVE 2737 WILL OPEN THE FOLLOWING BULLISH TARGET 2760 POTENTIALLY 2779 EMA5 CROSS AND LOCK ABOVE 2779 WILL OPEN THE FOLLOWING BULLISH TARGET 2797 POTENTIALLY 2814 BEARISH TARGETS 2715 2693 EMA5 CROSS AND LOCK BELOW 2693 WILL OPEN THE FOLLOWING BEARISH TARGET 2669 EMA5 CROSS AND LOCK BELOW 2669 WILL OPEN THE SWING RANGE SWING RANGE 2640 As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Thank you all for your likes, comments and follows, we really appreciate it! Mr Gold GoldViewFX
OANDA:XAUUSD
by Goldviewfx
4
GOLD DAILY CHART SHORT/MID TERM ROUTE MAPHey Everyone, Please see update on our daily chart idea that we have been tracking for a while with the updated retracement and swing range. Previously we analysed and highlighted our long range gap above at 2690, as we had ema5 cross and lock above 2645 opening 2690. We also stated that the daily chart averages are lagging so sometimes gaps get filled before ema5 confirmation, in which case candle body close gaps are suffice and that this gap had both. - 2690 was hit perfectly completing this target. We then had a candle body close above 2690, highlighted with a circle on the chart, opening 2725, as ema5 still lagging. We got the push up nicely but just short of the target, which now remains open for this week. We will now look for a ema5 lock or candle body close above 2725 for a continuation above or a rejection here will see the lower Goldturns tested for support. We will keep the above in mind when taking buys from dips. Our updated levels and weighted levels will allow us to track the movement down and then catch bounces up. Our long term bias is Bullish and therefore we will continue to use our smaller timeframes to buy dips using our levels and setups. Buying dips allows us to safely manage any swings rather then chasing the bull from the top. Thank you all for your likes, comments and follows, we really appreciate it! Mr Gold GoldViewFX
OANDA:XAUUSD
by Goldviewfx
6
WEEKLY CHART MID/LONG TERM ROUTE MAPHey Everyone, Please see update on our weekly chart idea that we have been tracking and trading over the last 3 weeks. Previously we stated that we had a detachment to ema5 below, also inline with the channel top for a possible re-test for a correction, which was then completed by touching ema5 and followed with the bounce, as the channel top provided the support like we stated, perfectly inline with our plans to buy dips. We also stated that we had a candle body close gap open to 2729 for our long range AXIS TARGET, which last weeks candle gave a nice push up for, allowing us to catch the move up and just fell short of a few pips, leaving this gap still open. As stated before if the channel top continues to provide support then we will track the movement up, confirmed with ema5 cross and lock or candle body close. However, if we continue to see tests on the channel top and then get a break inside the channel, then we will track the movement down, inline with our plans to buy dips, using our smaller time-frames, keeping in mind the long range gap for the future.. Buying dips allows us to safely manage any swings, instead of chasing the bull from the top. Thank you all for your likes, comments and follows, we really appreciate it! Mr Gold GoldViewFX
OANDA:XAUUSD
by Goldviewfx
4
GOLD 4H CHART ROUTE MAP UPDATEHey Everyone, Another amazing finish to the week with all our chart ideas playing out, as analysed. This chart was posted last Sunday with two open targets, bearish and bullish. Both targets were hit followed with no cross and lock below the bearish target. This confirmed the rejection and provided the support for the bull run, inline with our plans to buy dips. We got the ema5 lock above 2669 opening 2693, which was hit perfectly followed by ema5 lock above 2693, opening 2715, which was also hit today completing this target. We traded the move up all week from every dip, using our levels, banking clean safe pips. However, just today we stayed out, observing the movement, as did not want to chase the momentum unless we got a dip. BULLISH TARGET 2669 - DONE EMA5 CROSS AND LOCK ABOVE 2669 WILL OPEN THE FOLLOWING BULLISH TARGET 2693 - DONE EMA5 CROSS AND LOCK ABOVE 2693 WILL OPEN THE FOLLOWING BULLISH TARGET 2715 - DONE POTENTIALLY 2737 BEARISH TARGETS 2640 - DONE EMA5 CROSS AND LOCK BELOW 2640 WILL OPEN THE RETRACEMENT RANGE - NO LOCK RETRACEMENT RANGE 2611 EMA5 CROSS AND LOCK BELOW 2611 WILL OPEN THE SWING RANGE SWING RANGE 2584 - 2564 We will now come back Sunday with our updated Multi time-frame analysis, Gold route map and trading plans for the week ahead. Have a smashing weekend!! And once again, thank you all for your likes, comments and follows, we really appreciate it! Mr Gold GoldViewFX
OANDA:XAUUSD
by Goldviewfx
11
USDJPY /BETWEEN FVG AREA / 4HUSDJPY / 4H TIME FRAME HELLO TRADERS The price is attempting to reach a Fair Value Gap (FVG) between 150.961 and 152.784. This suggests the price is in a critical area that could lead to potential buying or selling opportunities. There’s a possibility of the price retesting 148.340 before starting to rise. This indicates that the author believes the price might dip before moving upwards. The statement notes that the overall price is under bearish pressure, meaning there is a downward trend. The reference to remaining below the FVG indicates a struggle for the price to rise past this zone. If the price does not break above the FVG, the analysis suggests it may decline further, targeting the FVG between 148.340 and 146.430. This is interpreted as a confirmation of a downtrend. To confirm a downtrend, the price must break below the current FVG, aiming for a secondary FVG between 145.291 and 144.379. This indicates a bearish outlook if these levels are breached. UPWARD FVG : 150.961 and 152.784. DOWNWARD FVG : 148.340 and 146.430 , 145.291 and 144.379.
Short
by ArinaKarayi
US30 / UNDER Q3 EARNING , AFTER BREAKOUT THE CHANNEL / 4HUS30 / 4H TIME FRAME HELLO TRADERS The chart mentions a breakout from a price channel followed by the publication of Q3 earnings, suggesting that these two events contributed to the rise in the US30’s price, reaching a new all-time high (ATH) of 43,323. It notes that prices are currently trading below the ATH, implying a potential pullback or correction. The analysis identifies a demand zone between 42,877 and 43,649. The text suggests that if prices stabilize within this zone, there is potential for a bullish reversal, with prices possibly rising back to the ATH and even reaching new historical peaks between 43,620 and 44,005. For a bearish scenario to play out, the text suggests that prices would need to break below a Fair Value Gap (FVG) between 42,404 and 42,238. Breaking this level could confirm a downtrend. Despite the potential for a pullback, the overall tone of the analysis is bullish, as prices are said to be under upward pressure after breaking out of the channel. ATH : 43323 Demand Zone : 42,877 and 43,649. FVG : 42,404 and 42,238.
EIGHTCAP:US30Long
by ArinaKarayi
XAUUSD / BREAKOUT THE CHANNEL AND ATH AT 2,685$ / 1HXAUUSD / 1H TIME FRAME HELLO TRADERS The asset is experiencing upward momentum after breaking out of a channel, suggesting a bullish. The price has broken its previous ATH at $2,685 and is currently attempting to reach a new ATH at $2,700. ATH levels are significant as they represent new highs in price, and breaking them often signals bullish strength. The price is hovering around a fair value gap between $2,685 and $2,682. As long as it stabilizes above this range, it suggests further potential for upward movement towards $2,700 and even $2,720. If the price breaks below this FVG, it may decline toward a demand zone between $2,676 and $2,670. Breaking this demand zone would indicate a further decline. Demand Zone : 2,676$ and 2,670$. FVG : 2,685$ and 2,682$.
OANDA:XAUUSDLong
by ArinaKarayi
NAS100USD / TRADING INSIDE FVG AREA / 1H NAS100USD / 1H TIME FRAME HEELO TRADERS Price Movement and Supply Zone , After prices increased and reached a supply zone, they began to decline , A supply zone refers to a price area where selling pressure exceeds buying pressure, causing the price to drop. Current Trading Range (FVG) , The price is currently trading between 20,272 and 20,200, which is considered an FVG (Fair Value Gap) , FVG represents an imbalance between buyers and sellers, where prices move quickly and leave a gap that hasn’t been filled. The price is stabilizing within this zone. Expected Price Movement , If prices hold within this FVG range, there’s an indication that they may increase and test the supply zone between 20,416 and 20,521 ,However, if the price breaks below this FVG area, a further decline is expected towards a demand zone between 20,138 and 20,068. Demand Zone and Potential Rebound , The demand zone, where buying pressure is stronger than selling pressure, suggests a potential price increase if the price stabilizes in this zone , But if the price breaks below this demand zone, it signals confirmation of a downtrend. Supply Zone : 20,416 and 20,521. Demand Zone : 20,138 and 20,068. FVG : 20,272 and 20,200.
OANDA:NAS100USDLong
by ArinaKarayi
The price of gold has reached an all-time high.Gold prices (XAU/USD) rose for the fourth straight day, surpassing $2,712 and reaching a new record high in Asian trading on Friday. Key factors include anticipated interest rate cuts from major central banks, tensions in the Middle East, and U.S. election uncertainties. Positive U.S. economic data on Thursday reinforced expectations for modest Fed rate cuts, boosting the dollar to its highest level since early August. Despite this, bullish sentiment around gold remains strong as prices trend upward this week. Personal opinion: The recent rise in gold prices is driven by geopolitical tensions and anticipated interest rate cuts, making it attractive for investors seeking a safe haven. It’s interesting to see how external events strongly influence the market. Gold seems well-positioned to continue attracting interest. Pay attention to the price range: Buy zone: 2690 - 2688 SL: 2683 Buy Scalp: 2702 - 2700 SL: 2695 Sell Zone: 2722 - 2724 SL: 2729
OANDA:XAUUSDLong
by Chana-Trading
1
Gold is at a record high, and a rising USD may limit growth.Gold prices (XAU/USD) rose for the third consecutive day on Thursday, marking the sixth positive day in the last seven, as it tested an all-time high in Asian trading. Anticipated rate cuts from major central banks and geopolitical risks from the Middle East are driving interest in gold. Meanwhile, expectations of modest Fed rate cuts next year have kept the US dollar (USD) near its highest level since early August, limiting new bullish bets on gold. Traders are now focused on US macro data for momentum in the North American session. Personal opinion: Currently, there are positive signs that could push gold prices up to $2,700. If there are more buying transactions, this will create new momentum for optimistic traders, helping to extend the upward trend for several months. This outlook is further reinforced by the fact that daily chart fluctuations remain in the positive zone and are still far from being overbought. Pay attention to the price range: Buy zone: 2650 - 2652 SL: 2645 Buy zone: 2664 - 2666 SL: 2659 Sell zone: 2684 - 2686 SL: 2691 SELL ZONE: 2700
OANDA:XAUUSDLong
by Chana-Trading
1
Globus Medical: Approaching resistance, is a breakthrough comingWeekly Chart ● The stock has tested the trendline resistance multiple times. ● Currently, it is trading just below this level. ● A breakout above this resistance is anticipated in the near future. ● Following the breakout, the price may increase. Daily Chart ● A Symmetrical Triangle pattern has formed. ● A strong breakout has taken place, supported by significant volume. ● The price is now set for a potential upward movement.
NYSE:GMEDLong
by NaranjCapital
Gold Price Analysis October 16Fundamental Analysis Gold prices traded in a positive bias for the second consecutive day and maintained intraday gains near the $2,675 region or a three-week high in the first half of the European session on Wednesday. Amid persistent geopolitical risks, disappointment over the lack of details on China’s fiscal stimulus dampened investor appetite for riskier assets. This was evident in the weaker tone in equity markets and turned out to be a key factor in favor of the safe-haven precious metal. Meanwhile, anti-risk flows led to a further decline in US Treasury yields and provided further support to non-yielding gold. That said, the solid expectations of less aggressive easing by the Federal Reserve (Fed) and bets on a regular 25 basis points (bps) rate cut in November will act as a driver of US bond yields. This, in turn, has lifted the US dollar (USD) to its highest in more than two months and could deter bullish traders from placing fresh bets on the commodity. Technical Analysis Gold’s break above 2680 is currently unresponsive. SELL points are in focus around 2684-2686. Above this level, only the 2700 price zone remains. A pullback is increasingly unlikely as the key area of ​​interest will be today’s Asian session low around 2660. Wishing you a successful trading day. A scalping hook around 2670 could be a breakout point as the European session enters but this point is likely to be false
OANDA:XAUUSD
by TVS-Trader
Gold reached a three-week high, capped by a rising dollar.Gold prices (XAU/USD) rose for the second consecutive day on Wednesday, reaching a three-week high around $2,677-$2,678 due to a downturn in the stock market and geopolitical risks. The flight to safety led to a decline in U.S. Treasury yields, supporting gold. However, expectations of less aggressive easing from the Federal Reserve and a strengthening U.S. Dollar may limit gold's upward momentum in the near term. Personal opinion: Any further price increases are likely to encounter resistance near the $2.685-$2.686 range or the all-time high reached in September. Following that is the round number of $2.700; a decisive breakout above this level would set the stage for a multi-month uptrend amid positive fluctuations on the daily chart. Pay attention to the price range: Buy Zone: 2647 - 2645 SL: 2640 Buy Zone: 2660 - 2658 SL: 2653 Sell Zone: 2683 - 2685 SL: 2690
OANDA:XAUUSDLong
by Chana-Trading