Gold price analysis September 24Fundamental Analysis
Gold prices fell after hitting a fresh all-time high around the $2,640 region on Tuesday and slid to the lower end of its daily range heading into the European session. Rising US Treasury yields helped revive demand for the US Dollar (USD), prompting some profit-taking around the commodity amid a mildly overbought condition on the daily chart.
However, any meaningful corrective decline in Gold prices appears to be limited after the Federal Reserve (Fed) stepped up bets on more aggressive policy easing. Additionally, persistent geopolitical risks, US political uncertainty and a gloomy global economic outlook will support the safe-haven XAU/USD as traders look to Fed Governor Michelle Bowman’s speech for fresh impetus.
Technical Analysis
Gold retreats from the 2640 peak. Technically, wave 5 of the Elliot wave has completed and the ABC correction wave is forming towards 2604. If the 2624 zone where gold is currently located is broken, we will get the 2603 level when the US session jumps in. If the European session price cannot break 2625, we will still wait and prioritize the sell side when retesting the 2640 peak. The 2593-2595 zone is considered a good buy zone.
Upper resistance: 2640 - 2645 - 2650 - 2658
Support: 2615 - 2610 - 2605 - 2600 - 2688 - 2657
Sell 2654 - 2656. Stoploss 2659
Sell 2640-2642. Stoploss 2445
Canh BUY scalp 2615
Canh BUY 2604 - 2606. Stoploss 2600
Canh BUY 2593-2595. Stoploss 2590
Tradingsignals
USOIL / TRADING BELOW TURNING LEVEL - 4HUSOIL / 4H TIME FRAME
HELLO TRADERS
July Decline: The significant drop of 15.34% indicates a bearish trend, which could be attributed to various factors such as market corrections, economic conditions, or changes in consumer behavior.
August Recovery: The rise of 11.74% suggests a potential recovery or rebound, possibly driven by positive news, increased demand, or market adjustments. However, this increase was followed by another decline within the same month.
Second August Decline: The 18.23% drop following the initial recovery may indicate market volatility or the market's inability to sustain upward momentum. This could also signal investor uncertainty or reactions to external factors.
September Projection: The forecasted decline of 4.66% in September suggests that the overall trend remains negative. This could imply a continuing lack of confidence in the market, or it may reflect seasonal trends affecting prices.
Technical analysis:
The level at 71.51 serves as a key resistance. If the price remains below this level, a decline towards 68.80 is expected. If this level is breached, the next support could be around 67.19.
Conversely, if the price breaks above 71.51, it may indicate bullish momentum, with targets at 73.99 and then 76.10.
UPWARD TARGET : 73.99 , 76.10 .
DOWNWARD TARGET : 68.80 , 67.19.
The Fed is testing the economy with 50 interest rate pointsThe 50bp reduce withinside the federal finances price to 5.0% surpassed Fitch`s expectancies in its September 2024 Global Economic Outlook. The length of the pass changed into difficult to justify primarily based totally on incoming financial data, with center offerings CPI inflation closing excessive at 4.9% 12 months-on-12 months in August and growing to 0.4% month-on-month.
The selection appears partly to mirror a `hazard assessment` detail in reaction to latest labour marketplace dynamics, wherein the unemployment price has risen to 4.2% in August from 3.7% in December 2023. While the Fed`s brand new forecasts display unemployment closing low, Fed Chair Jerome Powell made severa references on the post-assembly press convention to the hazard that unemployment could - unexpectedly - maintain to rise.
Significant enhancements in center inflation due to the fact that July 2023 have enabled the Fed to refocus at the most employment thing of its twin mandate, after having had a unique attention on inflation due to the fact that early 2022.
💎 OANDA:XAUUSD Buy 2606 - 2603💎
✔️TP1: 2616
✔️TP2: 2626
✔️TP3: OPEN
🚫SL: 2593
➖➖➖➖➖➖➖➖
💎 OANDA:XAUUSD Sell 2634 - 2637💎
✔️TP1: 2620
✔️TP2: 2610
✔️TP3: OPEN
🚫SL: 2644
Is gold reaching 2700 possible?After americaA Federal Reserve (Fed) decreased primary hobby costs for the primary time seeing that 2020, international gold costs constantly set new records. Good advantages for gold, this tool does now no longer pay constant hobby.
This morning, every ounce of gold for instant transport accelerated to 2,630 USD
Forecasts from the international`s main banks all percentage a membership angle on valuable metals. Accordingly, 2700 USD could be accomplished this 12 months or early subsequent 12 months. In particular, the primary using pressure for the boom in valuable metals is the Fed's hobby fee cuts, plus assisting elements consisting of geopolitical instability and gold shopping energy from significant banks.
💎GOLD Sell Scalp 2625 - 2627💎
✔️TP1: 2620
✔️TP2: 2610
✔️TP3: OPEN
🚫SL: 2635
EURUSD / TRADING BELOW TURNING LEVEL - 4HEURUSD / 4H TIME FRAME
HELLO TRADERS
Month-by-Month Price Movements:
June : Prices increased by 2.48%, indicating a bullish trend during this period.
July: A reversal occurred with prices decreasing by 1.48%, showing market correction or loss of momentum.
August: Prices surged again by 3.88%, suggesting renewed market strength or positive market
sentiment.
September (Forecast): A predicted decline of 1.26% could be attributed to cyclical market behavior, profit-taking, or external factors influencing the market.
Technical Analysis:
If prices drop below 1.114, further declines are anticipated, targeting 1.102 and potentially 1.094. This suggests a bearish outlook below the critical threshold of 1.114, where traders could expect more downside.
However , A break above 1.115 signals bullish momentum, with prices potentially rising to 1.120 and 1.123. This implies that breaching 1.115 could trigger buying interest, pushing prices higher.
UPWARD TARGET : 1.120 , 1.123.
DOWNWARD TARGET : 1.102 , 1.094.
EURGBP: Strong Bearish Signal Detected 🇪🇺🇬🇧
EURGBP broke and closed below a key daily horizontal support.
After a breakout, a broken structure was retested and the price
formed a narrow horizontal range on that.
A breakout of the support of the range with a high momentum bearish candle
this morning is a strong intraday bearish confirmation.
The price may keep falling now at least to 0.836
❤️Please, support my work with like, thank you!❤️
XAUUSD Big Move Will be there? | 2h Analysis Hello, community! 👋 How are you all doing this week? I hope you’re ready for some insightful trading opportunities. Let's dive into the analysis for XAU/USD (gold), as it looks promising for a bearish trend.
Market Overview
This week, XAU/USD is presenting a potential bearish scenario. After observing the current market conditions and price action, I’ve identified a key resistance level at 2641. This level is critical for our bearish outlook, and I’ll explain the setup in detail.
Key Levels
Entry Level: 2641
First Target: 2603
Second Target: 2580
Third Target: 2547
Stop Loss: 100 pips above the entry (approximately 2741)
Trading Strategy
Entry Confirmation:
Wait for a clear rejection (chock) at the 2641 level before entering the trade. This confirmation is crucial to ensure that the bearish momentum is established.
Target Management:
The first target is set at 2603, which is a realistic point to take partial profits.
The second target at 2580 provides a further profit-taking opportunity as we approach the anticipated bearish trend.
Finally, the third target is 2547, representing a solid point for potential further downside.
Stop Loss Consideration:
Place a stop loss 100 pips above the entry level, allowing for some volatility while protecting your capital. This positioning ensures that any unexpected bullish movement does not significantly impact your account.
Conclusion
In summary, the bearish outlook for XAU/USD appears favorable this week, with strategic entry and exit points. Remember to wait for that crucial rejection at 2641 before executing the trade. Let’s stay disciplined and focused, and I wish everyone a week full of profitable trades! 🌟
Feel free to follow for more insights and updates! Happy trading! 📈
SPY LOVERS ! NEW ALL TIME HIGHS But be very careful ! Check hereFINALLY HERE ! NEW ALL TIME HIGHS !
But wait!!! do you really Trust those 2 last Dojis ?
Here are 2 quick scenarios to analyze for the week:
Scenario #1 (Green Line): The price may pull back to bounce off the order block zone I have marked in white, which we know as the institutional block where there was a lot of liquidity.
I call this pattern in my trading system "N3" as it consists of 1 breakout + 1 pullback + 1 trend decision.
Scenario #2 (Red Line): Always considering our active order block zone, the price may break through the block with strong momentum, confirming another pullback or bearish market for several days. In this case, AGAIN, the price could fall back to our buyer pressure zone (blue zone), where higher buying pressure volume has been shown. NOTE: All of this depends on the bearish strength the market carries; we can tell if the market will break downward by simply observing bearish volumetric candles or seeing a lot of active bearish volume.
But for now, we can't do anything as long as the price remains within our bullish channel, which we'll keep monitoring throughout the week!
The decision will become very clear once the price makes the choice to break out of my bullish channel.
Best regards, and a million thanks for supporting my analysis!
USDJPY LONG TRADE IDEAUSDJPY Forecast For This Week(23 Sep-27 Sep 24 & NEXT WEEK ALSO)
1. Price Took Support From a Major Level of 140(Psych Level)
2. Consolidation of around 2 Weeks
3. Inverted Head & Shoulder Kind of Setup
4. Breakout above Neckline
5. Favourable Risk Reward to Upside
Buy Above @144 Level SL 143.50-143.40
Target 1 - @ 146.00 Target 2 @ 147.00 & Target 3 @149.00 OANDA:USDJPY
USDJPY - at most expensive supporting area, holds or not??#USDJPY.. well guys market just dropped and reached near to his one of the most important supporting area of the year.
that is 141.10
keep close that supporting area because that is only hope for buyers. any kind of weakness below that will be very expensive for buyers and for Japan as well.
one thing is keep in mind that below 141.00 cut n reverse will be a good option on confirmation.
don't be lazy here.
good luck
trade wisely
Trading Signals September 20Fundamental Analysis
Bullish gold extended gains after recording losses on Wednesday following the Fed decision. Officials sided with the larger of the two cuts expected by Wall Street, justifying their decision by pointing to inflation progressing steadily toward the Fed’s 2% target. Fed Chairman Jerome Powell stressed that the Fed could maintain labor strength by adjusting policy.
Meanwhile, US employment data is in focus after Powell’s speech at Jackson Hole, in which he shifted focus to achieving the maximum employment mandate. On Thursday, the US Department of Labor revealed that the number of people filing for unemployment benefits was lower than expected, indicating strength in the labor market.
Meanwhile, US Treasury yields followed in Gold’s footsteps, with the benchmark 10-year Treasury yielding 3.74%, up three and a half basis points. However, this did not support the greenback, according to the US Dollar Index (DXY), which fell 0.31% to 100.62.
Technical Analysis
The price zone to watch in today's European session is 2610 new ATH peak. If the price fails to break this zone in the middle of the European session, Gold can be sold to the breakout zone when the European session is 2600-2595. When the US session fails to break the 2595 zone, BUY again and continue to hold long-term combined with the old BUY signals in the 254x 247x zone of the previous days, we have a long-term BUY signal up to 27xx
Trading signal
Breakout upper boundary: 2593 - 2600 -2605 - 2615
Upper resistance: 2593 - 2600 -2605 - 2615
Breakout lower boundary: 2580 - 2572 - 2565 - 2557 - 2550
Support: 2580 - 2572 - 2565 - 2557 - 2550
SELL 2613 - 2615. Stoploss 2619
BUY 2580 - 2578. Stoploss 2574
BUY 2567 - 2565. Stoploss 2561
GOLD - one n single area, what's next??#GOLD.. market exact closed at his one of the most important area of the day 2586
That is our key level in today and if market stay below that level then drop expected towards our supporting areas.
And upside above 2595 selling will be invalidate.
Good luck
Trade wisely
KOG's RED BOXES - EURUSD EURUSD:
Key level red box here is around the 1.1045 region with the bias being bullish above. Swing high currently in production, immediate red box needs to break.
Have a look at the previous pinned posts on Red boxes to familiarise yourself with how they are so effective in keeping traders the right side of the markets.
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
Gold price approaches $3000The US Federal Reserve (Fed) recently decided to loosen monetary policy after 4 years, by reducing interest rates by 50 basis points (0.5%), to 4.75-5%.
This agency emphasized that it is "always ready to adjust monetary policy if risks arise". Fed officials forecast the reference interest rate to decrease by another 0.5% by the end of this year and 1% next year. In 2026, they will reduce the interest rate by another 0.5% to 2.75-3%.
However, gold quickly fell, now at $2,556/ounce, just about the same as today. The gap between domestic and international gold prices is about VND5.4 million/tael.
Currently, investors are waiting for comments from Chairman Jerome Powell for more information on the main presentation. Robert Minter, chief investment strategist at Abrdn, said that in this new holiday, it is only a matter of time before gold surpasses $3,000/ounce .
Gold Analysis September 19Fundamental Analysis
Gold prices regained positive momentum after yesterday’s pullback from an all-time high and continued their steady intraday gains heading into Thursday’s European session. The US dollar (USD) saw an intraday reversal from a one-week high and now appears to have stalled its recovery from its lowest since July 2023 hit the previous day. This, coupled with concerns over a recession in the United States (US) and China, along with the risk of further escalation in tensions in the Middle East, prompted some safe-haven flows into the precious metal.
With Thursday’s positive move, Gold now appears to have snapped a two-day losing streak, although the possibility of more aggressive easing by the Federal Reserve (Fed) could limit any further gains. In fact, the US central bank decided to start its policy easing cycle by cutting borrowing costs by 50 basis points on Wednesday. However, the Fed has lowered market expectations for excessive rate cuts in the future. This still supports a modest increase in US Treasury yields, which could limit the USD's losses and limit the gains of the non-yielding yellow metal.
Technical analysis
Gold has recovered very strongly from the Fibonacci retracement level of 2547-2545. At the moment, we need to understand what it wants each session and how it pushes the price. So Gold can absolutely continue to push higher in 3 sessions when Asia and Europe have not had any significant declines. The important price zone is 2588. If this zone breaks when the US enters, do not sell and wait for 2600 SELL to react. It is easy to have a false break, so the beautiful BUY point in the area I determined yesterday at 254x will be held until 263x. Today is a difficult day to trade. If the US session at 19:30 cannot break the 2588 area, it is possible to SELL to the destination area at 2565 - 2545
SELL attention zone 2588-2600-2612-2618
BUY attention zone 2565-2545
XAUUSD Potential push for 2600This week, XAUUSD surged to an all-time high, driven by expectations of a potential Federal Reserve rate cut. The price jumped over 3%, marking its strongest weekly gain since August. Inflation concerns and global uncertainty have fueled speculation that the Fed may cut rates to stimulate the economy. Now, the market is in a new range between 2550 and 2600.
Next week’s key event is the Fed's decision, with high-impact news expected, especially Wednesday. The market could consolidate, forming a continuation pattern, though Monday may start with a short-term pullback due to a 1-2-3 price movement, typically signaling a correction.
Despite this potential pullback, the overall outlook remains bullish. A rate cut could drive prices toward 2600 or higher, supported by inflation concerns and economic uncertainty
SELL GOLD TODAY DUE TO FED 25bps CUT OVER 50bpsPrice will fall over today FED 25bps cut over 50bps high anticipation, Overbought Gold will fall from high to 2540 to 2520 level, God willing
2569-2575 SL 2583 (Trade till 2581)
2587-2592 SL 2603 (Trade till 2601)
2608-2613 SL 2627 (Trade till 2625)
GOD WILLING
Gold Price Analysis Ahead of FOMC September 18Fundamental Analysis
On the day of the Fed's announcement, markets continued to price in a 65% chance of a 50 basis point (bps) rate cut, CME Group's FedWatch Tool showed, reviving selling interest around the US dollar (USD), as US Treasury yields also turned defensive amid cautious markets.
As such. Gold prices are attempting to reclaim all-time highs just shy of $2,600, as attention turns to the Fed's decision, Chairman Jerome Powell's press conference and the Dot Plot, all of which will help gauge the US central bank's future policy actions.
If the Fed delivers a 25 basis point rate cut later this Wednesday, it could send the US dollar soaring. However, the immediate reaction to the Fed's announcements could be overshadowed by the implications of the Fed's projections and Powell's words. Therefore, gold prices are still subject to strong fluctuations in the Fed event.
Conversely, if the Fed acknowledges the potential risks to inflation and maintains a cautious tone, this could bring the hawks back into the game, negatively affecting the non-interest-bearing gold price.
Technical analysis
Gold is breaking the downside price band and approaching the resistance level around 2575. If it fails to break this zone before the US session, we can SELL and hold to 255x and 2545 when the FOMC announces to BUY back up and hold to 262x. In case of breaking the 2575 zone, we will not SELL and wait for the candle to close above 258x and BUY when the 2575 zone is retested. Hold until the FOMC does not break the new ATH, then we exit the order.
Breakout upper limit: 2582 - 2591 - 2603
Upper resistance: 2581 - 2590 - 2600 - 2605 - 2615 - 2626 - 2645
Breakout lower limit: 2570 - 2563 - 2550 - 2538
Support: 2572 - 2564 - 2552 - 2545 - 2539 - 2525 - 2516
Pay attention to the trend zone around 2580 above.
Sell the price zone 2603-2605. Stoploss 2609
Watch for BUY 2564 - 2562. Stoploss 2558
Watch for BUY 2545 - 2547. Stoploss 2541
US30 / UNDER FOMC PRESSURE - 4HUS30 / 4H TIME FRAME
HELLO TRADERS
In August, the prices saw a price decline of 6.91%, reflecting a period of downturn. However, in September, there was a notable recovery, with prices rising to an all-time high (ATH) of 41,852. This peak represents the highest level achieved thus far in the prices history. Currently, prices are trading below this ATH, which suggests that the market is still testing its limits.
If the current price trajectory remains below the ATH of 41,852, further declines could be anticipated. Support levels to watch for potential price corrections are at 41,340 and 40,853. These levels might serve as points where the price could stabilize or experience a rebound.
On the other hand, if the prices manages to close above the ATH on a 4-hour candle, it could indicate a shift towards a bullish trend. This would suggest that the market sentiment has turned positive and could lead to further gains. In this scenario, the price might approach new resistance levels, with potential targets at 42,282 and 42,703. These levels represent possible areas where the price might encounter selling pressure or where further gains could be capped.
Overall, the price dynamics are influenced by how it performs relative to the ATH, with potential implications for both downward corrections and upward advances depending on market behavior.
UPWARD TARGET : 42,282 , 42,703.
DOWNWARD TARGET : 41,852 , 40,853.
Investors are worried that the Fed only reduced it by 25 pointsWorld gold charges became down with spot gold down thirteen USD to 2,570 USD/ounce. Gold futures closing traded at $2,596.30 an oz, down $12.60 from the brilliant spot.
Pressured with the aid of using a rebound withinside the greenback and a moderate upward thrust in Treasury bonds, the yellow metallic misplaced 0.5% after conquering an all-time excessive of $2,589.50 an oz early withinside the day. week. Currently, buyers are nevertheless awaiting facts on whether or not the United States Federal Reserve (Fed) could have a coverage pivot at this assembly as expected.
After a chain of membership facts, monetary markets are forecasting a more potent Fed in its first hobby price reduce for the reason that 2020. According to the CME FedWatch tool, the marketplace is already assured withinside the opportunity of a tapping fundamental foreign money with a 63% mission discount might be 50 foundation points.
💎 OANDA:XAUUSD Buy 2558 - 2556💎
✔️TP1: 2570
✔️TP2: 2580
✔️TP3: OPEN
🚫SL: 2548
💎 OANDA:XAUUSD Sell 2585 - 2587💎
✔️TP1: 2570
✔️TP2: 2560
✔️TP3: OPEN
🚫SL: 2595