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XAG

RLinda ! GOLD-> The price is in a bullish trend. What's next? Gold formed a strong bullish momentum after the release of positive data on consumer inflation in the United States. This fact may positively influence the medium-term dynamics of the markets. Gold updates multi-month highs to 1824.5 The price is trading in an ascending range (price channel). The last few days the gold was in a consolidation between 1807-1765, and yesterday we saw a break-up of the resistance, but a false-break has not happened yet, and the price is still consolidating above 1807.96, which opens a potential upside. I think that if the gold finally consolidates above the resistance, we might get to 1858 in the middle term. But, there is also a scenario of a false-break of 1807.96. If there is a consolidation below that level, the gold might make a technical reversal to the channel support. Regards, R. Linda!
OANDA:XAUUSD
by RLinda
27
RLinda ! GOLD-> uptrend, sideways range. What's next? Gold is pushing back from strong support, confirming a bullish trend in the market. Buyers were able to hold the 1765 level. Price is in an uptrend channel, but at the same time I pointed out the formation of a sideways range of 1807-1765, in the left corner I pointed out the flat trading format. Price is moving from resistance to support and vice versa In our case, the price has pushed away from the support and is aiming for a strong level, relative to which there was a false breakout earlier. Whether or not there will be a breakout at 1807.96, I cannot say for sure, we will have to wait for the price's reaction to that level. My priority is a pullback from the level, and after the pullback I expect a continuation of growth. We continue to monitor the price. In a pullback, I will stick to the level of 1784, and in case of a breakdown of the resistance, my target will be the level of 1850. Regards, R.Linda!
OANDA:XAUUSD
by RLinda
20
RLinda ! GOLD-> The bulls are defending the 1765 lvl. Going up?Gold shows us a stronger bullish behavior in the market. The price pullback to 1765, to the 0.5 Fibo level and the consolidation above the level, in the long zone, shows us a bullish mood. The price is in an ascending price channel and yesterday the gold consolidated after the false breakdown of 1765. The consolidation was between 1768-1778, and the subsequent break-down of the resistance tells us about the future direction. There is a potential upside to 1807.96 and then to 1858. I expect a final consolidation above the Fibo level of 0.618 (1778.489) and a subsequent rise in price. Regards, R.Linda!
OANDA:XAUUSDLong
by RLinda
15
XAGUSD Potential For Bullish ContinuationLooking at the H4 chart, my overall bias for XAGUSD is bullish due to the current price being above the Ichimoku cloud, indicating a bullish market. With price tapping into my buy entry at 22.56150, where the 38.2% Fibonacci line is. Stop loss will be placed at 22.35795, where the 23.6% Fibonacci line is. Take profit will be at 22.91150, where the 23.6% and 61.8% Fibonacci lines are. Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
OANDA:XAGUSDLong
by VantageMarkets
RLinda ! GOLD-> consolidation after the fall. What's next? Gold updated to a high of 1810 and then the price went into a retracement phase, which fell to the key level of 1765 and reached the 0.5 Fibonacci level, what to expect from that? We have an upward price channel and a strong uptrend on the back of loosening tight fundamentals. The price stops its correction at the 0.5 Fibonacci level and moves into consolidation between the 1768 and 1778 level. This can be interpreted multifacetedly, as a set of energy to buy and a consolidation to continue falling. An important nuance will be a price exit from the consolidation. A break-up of the resistance 1778 and its fixation above this level will send the price up to 1807. However, a breakdown of 1768, 1765 and a breakdown of the price channel support will open a potential for the price fall to 1729.5. Regards to R. Linda!
OANDA:XAUUSD
by RLinda
28
RLinda ! GOLD-> testing of support and Fibo levels 0.618, 0.5Gold is down $43 from yesterday's high. A technical pullback is forming to the key support level of 1765. Gold is in an uptrend channel. The price is still respecting the range boundaries and pulling back to the important support at 1765. There was a touch last night. Also, slightly above the support of 1765 is the key Fibonacci level of 0.5, which is a strong enough reason to wait for a pullback in the price. Since the price is near the support zone of the uptrend, I expect price growth in the short term. The short-term target is the resistance of 1807.96. Medium-term potential -1858 and 1869. Regards R.Linda!
OANDA:XAUUSDLong
by RLinda
23
RLinda ! GOLD-> Are the bulls looking to go up to $1878 ?Gold is rising 11.6% from the Triple Bottom pattern that was formed. Earlier I pointed to a pullback from resistance. The technical fall was stopped at 1730, after which the price returned to retest the 1775 zone and the bulls are overcoming the hurdle. As we saw, the price within the downtrend respected the boundaries of the downtrend price channel. The reversal pattern was formed on the support of the range. What happened? Since early November, when the third confirmation of the bottom was made, the gold has recovered from the low to almost $1800 (by 11.6%). Following that, gold is breaking up the resistance of the downtrend channel after a two-week retest. The price is above the uptrend line formed since August 2018. Gold is now in the long zone of the new 1775-1878 range. The trading instrument opens for itself a new upside potential. Important targets: liquidity zone 1850, resistance 1878 and liquidity zone 1900 Regards to R. Linda!
OANDA:XAUUSDLong
by RLinda
55
A traders’ week ahead playbook – the calm before the storm We move past US payrolls with only a momentary shake for risky markets - the immediate reaction was to buy USDs, sell Treasuries and equity, however, the market was quick to reverse that flow. When we drill down into wages, revisions and the balance between the Household and Establishment survey, the wash-up is it supports the ‘soft landing’ argument and won’t change the Fed’s course, where a 50bp hike next week and a peak 5%-5.25% fed funds rate is still the firm default position. Taking a review of the week that was, it’s hard to go past the 37bp decline in US 5yr real rates to 1.12%, with US 2yr Treasury yields falling 18bp to 4.27% – Fed chair Powell had the opportunity to push back on the recent easing of financial conditions in his Brookings speech but refrained from doing so, and it was game on from there, with US real rates driving down the USD 1.5% WoW, and closing firmly below its 200-day MA. In a world of falling real rates, the JPY reigned supreme gaining 3.6% (vs the USD) and much attention has been placed on BoJ Tamura’s comments around a potential review of BoJ policy – arguably one of the macro thematic’s that needs to be considered for 2023, where a change in BoJ policy stance could have massive implications for Japanese and global bond markets and of course the JPY and JPN225. USDJPY hit the 200-day MA and is getting a real work out from clients – would be looking at modestly lower levels to get long for a tactical bounce. With limited data to drive this week and no Fed speakers, the market may start to think for itself and look at massaging exposures ahead of the following week – a week which is riddled with tier 1 event risk – the result could easily be traders pairing back USD shorts into the back end of the week – this same factor could see US Treasury yields rise and weigh on equity, and while the technical target remains above 4200 in US500, there are ever greater signs of overbought readings in the market internals. In G10 FX I am particularly looking at NZDUSD, EURUSD and in the commodity space silver (XAGUSD), all of which have come up on my momentum scan - where price has made a new 40-day high, and the 3-day ROC is in the 75th percentile of its 12-month range. I am looking for further near-term upside in these plays but given this risk of position squaring into the tail of the week these markets are the markets I will be watching. Watching crude on the open with OPEC leaving output levels unchanged on Sunday – it feels like traders had positioned for this outcome going into the weekend, although there may be some legacy positioning that needs to come out of price on the open - happy to hold Spotcurde shorts for $78 China remains a dominant driver and the good news has been rolling in – through the weekend we’ve heard more news with Shanghai and Hangzhou easing restrictions, with PCR tests no longer needed to visit certain public venues. Given the moves it feels like markets have discounted a lot and new news needs to be far more impactful. Well see, but the set-up in USDCNH interests and a breakthrough in the neckline of the head and shoulder pattern may see further USD selling across G10 FX – one for the radar, while I am watching Chinese/HK equity markets and would be adding to longs in HK50 on a close above 19,200. Rates Review – we look at what’s priced for the next central bank meeting and the step up in the following meetings Factors to watch in the week ahead US – With the Fed now in a blackout period through to the FOMC meeting (15 Dec), the focus is firmly on the data flow – next week’s Nov CPI print is the main game and looms large, but it’s worth noting that this coming week is quiet by way of known event risks – unit Labor cost (8 Dec 00:30 AEDT) is an important data point, but despite an expected decline to 3.1% (from 3.5%) it is unlikely to spur vol across markets. The ISM service report (6 Dec 02:00 AEDT) is eyed at 53.3 (from 54.4), suggesting the service sector is holding up well and further supporting those in the ‘soft landing’ economic camp. We also get Nov PPI (10 Dec 00:30 AEDT), which is eyed at 5.9% (from 6.7%) and while this could get more of a look this week, unless we see a dramatic miss, I’d argue it is most likely a non-market mover. We also get the University of Michigan's 5-10 inflation expectation no Friday, where a number below 3% would be welcome news to the risk bulls and promote further USD selling. Australia – while we get the Q3 GDP print on Wed (consensus 6.2% YoY), the highlight of the week is the RBA meeting (Tuesday 14:30 AEDT) – it would be a huge surprise if they didn’t hike by 25bp, and given that outcome is thoroughly priced, the move in the AUD will come from the tone of the statement and whether they are seeing ever clearer evidence that inflation has turned on a sustained basis. We can also marry the tone of the statement with pricing further out the rates curve, where peak/terminal expectations for the cash rate sit at 3.57%, implying another 75bp of hikes by mid-2023 – one can argue that a further 75bp of hikes is too punchy. China – while headlines on Covid freedoms will likely drive markets, it’s worth noting the China Politburo meeting on Tuesday, where we may get some additional colour on economic policy for the year ahead. On the data docket we get Nov trade data (7 Dec – no set time), CPI/PPI (9 Dec 12:30 AEDT) and Nov credit data (no set date) – CPI is expected to print 1.6% (from 2.1%), so in theory, this offers further scope for the PBoC to lower the prime rate later this month. USDCNH is ominously poised for a deeper correction, as the daily chart shows, with price testing the head and shoulders neckline – an outcome which would support the AUD and NZD. I like Chinese/HK equities higher and see a high probability the HK50 tests its 200-day MA soon. Canada – We’ve seen the CAD underperform most G10 FX currencies over the past month, notably with some huge moves in CADJPY and NZDCAD. The Bank of Canada (BoC) meet Thursday (02:00 AEDT) and expectations are split between a 25bp or 50bp hike - with 32bp of hikes priced into Canadian rates markets it could be a lively meeting for CAD traders – I’d be taking some of CAD shorts off the table into the meeting, as there are real risks of a 50bp hike UK – while we look at UK CPI and the BoE meeting in the following week, this week is pretty quiet on the UK data front, where it’s mostly tier 2 releases that shouldn’t dive too much flow in GBP – we do get the BoE’s inflation attitudes survey (9 Dec 20:30 EDT) which could offer some insights on inflation trends - but on the whole, it’s a week where the GBPUSD will respond to external factors and broad market sentiment Eurozone – Another region where the data is unlikely to impact too intently – we do see 11 ECB speakers, with President Lagarde due to speak on Monday (12:40 AEDT). The market prices a 50bp hike at the Dec ECB meeting, but if the ECB is looking at 75bp then this is the week to guide expectations The week that matters – this week will be about getting exposures in check and reacting to any landmines that fall in our path – looking at the following week it honestly doesn’t get any more potent – how’s this for event risk and a very lively 3 days in markets? We’ll cover it later in the week, but it doesn’t get bigger than this and could shape much of Q1 23. • US CPI – 14 Dec 00:30 AEDT – this is the big event risk…when we look at implied volatility the CPI report is the defining risk event this year. • UK CPI – 14 Dec 18:00 AEDT • FOMC meeting (50bp hike expected) – 15 Dec 06:00 AEDT • SNB (50bp hike expected) – 15 Dec 19:30 AEDT • BoE meeting (50bp hike expected) – 15 Dec 23:00 AEDT • ECB meeting (50bp hike expected) – 16 Dec 00:15 AEDT • BoJ – 20 Dec Good luck all....
PEPPERSTONE:US500
by Pepperstone
💡SILVER (XAGUSD) - Weekly Technical Analysis UpdateMidterm forecast: 20.621 is a major support, while this level is not broken, the Midterm wave will be uptrend. We will close our open trades, if the Midterm level 20.621 is broken. Technical analysis: While the RSI uptrend #1 is not broken, bullish wave in price would continue. A trough is formed in daily chart at 20.860 on 11/28/2022, so more gains to resistance(s) 24.129, 25.986, 26.940 and more heights is expected. Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses. Relative strength index ( RSI ) is 71. Take Profits: 19.939 20.621 21.200 22.417 24.129 25.986 26.940 28.304 29.850 37.500 44.200 49.800 60.000 ❤️ If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . . . . . . . . . . Drop some feedback below in the comment! ❤️ Your support is very much 🙏 appreciated!❤️ 💎 Want us to help you become a better Forex / Crypto trader? Now, It's your turn! Be sure to leave a comment; let us know how you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️
FOREXCOM:XAGUSD
by ForecastCity