XAUUSD | GOLDSPOT | New perspective | follow-up details
Following the US Federal Reserve's dovish pivot, the market experienced a shift in sentiment when New York Federal Reserve President John Williams expressed reservations about rate cut expectations, emphasizing the central bank's commitment to maintaining inflation at its 2% target. This development led to a rebound in US Treasury bond yields, providing some optimism for the US Dollar.
As we navigate through crucial macroeconomic data, including the Fed meeting, the market is processing this information, with the upcoming week poised to influence the direction of price action as we approach the end of the year. It is anticipated that the trends observed over the past six weeks will likely continue to year-end, albeit at a more subdued pace.
XAUUSD Technical Analysis:
In this video, we dissected the XAUUSD chart from a technical standpoint, analyzed the key levels, analyzed historical price moves, market behaviors, and buyer-seller dynamics, and uncovered potential trading opportunities.
The $2,030 zone will be our center stage for this week. Its historical significance makes it a crucial point. If the bullish momentum is sustained then a continued buying pressure above this zone will serve as a platform for new highs. However, if price action stays below the $2,030 level and selling pressure persists below the zone, we could witness renewed selling pressure back into the demand zone at the $1,960 zone. Generally, Gold remains bullish following a strong rebound from $1,970 on Wednesday. The pair, however, needs to breach the $2,050 resistance area to confirm the bullish view.
Dive into the latest Gold market dynamics! Stay informed for strategic investment decisions.
#GoldMarket #SafeHavenAssets 📺🔔💼
Disclaimer Notice:
Please be aware that margin trading in the foreign exchange market, including commodity trading, CFDs, stocks, and other instruments, carries a high level of risk and may not be suitable for all investors. The content of this speculative material, including all data, is provided by me for educational purposes only and to assist in making independent investment decisions. All information presented here is for reference purposes only, and I do not assume any responsibility for its accuracy.
It is important that you carefully evaluate your investment experience, financial situation, investment objectives, and risk tolerance level. Before making any investment, it is advisable to consult with your independent financial advisor to assess the suitability of your circumstances.
Please note that I cannot guarantee the accuracy of the information provided, and I am not liable for any loss or damage that may directly or indirectly result from the content or the receipt of any instructions or notifications associated with it.
Remember that past performance is not necessarily indicative of future results. Keep this in mind while considering any investment opportunities.
As we navigate through crucial macroeconomic data, including the Fed meeting, the market is processing this information, with the upcoming week poised to influence the direction of price action as we approach the end of the year. It is anticipated that the trends observed over the past six weeks will likely continue to year-end, albeit at a more subdued pace.
XAUUSD Technical Analysis:
In this video, we dissected the XAUUSD chart from a technical standpoint, analyzed the key levels, analyzed historical price moves, market behaviors, and buyer-seller dynamics, and uncovered potential trading opportunities.
The $2,030 zone will be our center stage for this week. Its historical significance makes it a crucial point. If the bullish momentum is sustained then a continued buying pressure above this zone will serve as a platform for new highs. However, if price action stays below the $2,030 level and selling pressure persists below the zone, we could witness renewed selling pressure back into the demand zone at the $1,960 zone. Generally, Gold remains bullish following a strong rebound from $1,970 on Wednesday. The pair, however, needs to breach the $2,050 resistance area to confirm the bullish view.
Dive into the latest Gold market dynamics! Stay informed for strategic investment decisions.
#GoldMarket #SafeHavenAssets 📺🔔💼
Disclaimer Notice:
Please be aware that margin trading in the foreign exchange market, including commodity trading, CFDs, stocks, and other instruments, carries a high level of risk and may not be suitable for all investors. The content of this speculative material, including all data, is provided by me for educational purposes only and to assist in making independent investment decisions. All information presented here is for reference purposes only, and I do not assume any responsibility for its accuracy.
It is important that you carefully evaluate your investment experience, financial situation, investment objectives, and risk tolerance level. Before making any investment, it is advisable to consult with your independent financial advisor to assess the suitability of your circumstances.
Please note that I cannot guarantee the accuracy of the information provided, and I am not liable for any loss or damage that may directly or indirectly result from the content or the receipt of any instructions or notifications associated with it.
Remember that past performance is not necessarily indicative of future results. Keep this in mind while considering any investment opportunities.
Trade active:
The buy position initiated yesterday is still running as the Gold price struggles to build on yesterday's positive momentum, trading with a slight negative bias during the Asian session. The prevailing robust risk-on sentiment in global equity markets, driving US stock indices to near-record highs on Monday, adds pressure to the safe-haven asset. However, geopolitical tensions remain a significant concern, especially amidst growing apprehensions about a potential global economic slowdown, particularly in China and the Eurozone. This could potentially bolster XAUUSD and deter bearish traders from making aggressive moves ahead of the crucial US inflation report scheduled for release on Friday.
Given these factors, we still maintain a bullish stance, using the ascending trendline on the chart as a guiding light for today's trading activities.
NB: It's important to note that market participants will be closely monitoring today's US housing market data – Building Permits and Housing Starts. Additionally, a scheduled speech by Richmond Fed President Thomas Barkin could potentially impact short-term trading opportunities.
Good Morning.
Given these factors, we still maintain a bullish stance, using the ascending trendline on the chart as a guiding light for today's trading activities.
NB: It's important to note that market participants will be closely monitoring today's US housing market data – Building Permits and Housing Starts. Additionally, a scheduled speech by Richmond Fed President Thomas Barkin could potentially impact short-term trading opportunities.
Good Morning.
Trade active:
UPDATE
Buy positions still remain intact
Buy positions still remain intact
Trade active:
We currently hold a minimum of four buy positions, securing a substantial profit of 390 pips, as Gold undergoes a bullish consolidation phase around 2,040 during the Asian session.
The modest uptick in the US Dollar and the prevailing risk-on sentiment are noteworthy influencers, creating headwinds for the safe-haven asset. Recent market dynamics indicate a growing belief among participants that the Federal Reserve may ease its hawkish stance. This sentiment, coupled with expectations of a potential rate cut as early as March next year, keeps US Treasury bond yields and the USD flirting with multi-month lows. Interestingly, this lends support to the price of Gold.
Amidst these developments, caution prevails, as this structure suggests that market participants may be opting to await the key US inflation reading scheduled for Friday before committing to fresh, aggressive directional bets.
At this juncture, our strategy involves safeguarding all existing buy positions, allowing us to decipher the current market structure and position ourselves for potential new trading opportunities. Stay tuned for our upcoming live session this morning for insights into our evolving strategy.
Good Morning.
The modest uptick in the US Dollar and the prevailing risk-on sentiment are noteworthy influencers, creating headwinds for the safe-haven asset. Recent market dynamics indicate a growing belief among participants that the Federal Reserve may ease its hawkish stance. This sentiment, coupled with expectations of a potential rate cut as early as March next year, keeps US Treasury bond yields and the USD flirting with multi-month lows. Interestingly, this lends support to the price of Gold.
Amidst these developments, caution prevails, as this structure suggests that market participants may be opting to await the key US inflation reading scheduled for Friday before committing to fresh, aggressive directional bets.
At this juncture, our strategy involves safeguarding all existing buy positions, allowing us to decipher the current market structure and position ourselves for potential new trading opportunities. Stay tuned for our upcoming live session this morning for insights into our evolving strategy.
Good Morning.
Trade active:
Following our discussion during the just concluded live session, as we enter a delicate phase, here is a simple setup on the 15-minute timeframe that will be guiding our trading decision.
Trade active:
#XAUUSD
UPDATE on 15-minute timeframe
Sell positions triggered! Protect positions
UPDATE on 15-minute timeframe
Sell positions triggered! Protect positions
Trade closed manually:
UPDATE
All sell position closed. Buying pressure resumes as soon as price action tested both the ascending trendline and the 2,030 level. The levels identified on the 1H timeframe guides our trading decisions now.
All sell position closed. Buying pressure resumes as soon as price action tested both the ascending trendline and the 2,030 level. The levels identified on the 1H timeframe guides our trading decisions now.
Trade active:
Although our buy position from yesterday resulted in a loss, the market structure continues to exhibit a bullish outlook as Gold attracts dip-buying during the Asian session, reversing a significant portion of the previous day's decline. At this juncture, market participants appear to be anticipating a fresh catalyst before positioning for the next directional move. As a result, all eyes are on the release of the US Core Personal Consumption Expenditure (PCE) Price Index on Friday, which could impact the Federal Reserve's (Fed) future policy decisions. This, in turn, is expected to determine the near-term trajectory for the safe-haven asset.
Given the current market characterized by a softer risk tone, I maintain a bullish bias, with the levels and ascending trendline on the chart serving as the guiding light for today's trading activities.
Good Morning
Given the current market characterized by a softer risk tone, I maintain a bullish bias, with the levels and ascending trendline on the chart serving as the guiding light for today's trading activities.
Good Morning
Trade active:
UPDATE
Buying pressure resumes as the release of USD GDP data draws near.
Buying pressure resumes as the release of USD GDP data draws near.
Trade active:
#XAUUSD
UPDATE
Three buy positions triggered.
UPDATE
Three buy positions triggered.
Trade active:
We currently maintain a minimum of four buy positions, securing over 300 pips in profit as Gold grapples with an intraday uptick in the Asian session. Concurrently, the US Dollar exhibits a rebound, recovering from its recent decline to a nearly five-month low. This USD resurgence, however, is likely a result of pre-inflation data repositioning, with expectations that the Federal Reserve (Fed) might shift away from its hawkish stance.
Market participants are uncertain about when the US central bank will begin cutting interest rates in 2024 hence the consolidation on the chart. As a result, attention will remain focused on the release of the US Core Personal Consumption Expenditure (PCE) Price Index, which will influence the Fed's future policy decisions and provide a new directional impetus to the price of gold. Given this uncertainty, we will protect all buy positions and remain vigilant for new trading opportunities.
Complement of the season!
Market participants are uncertain about when the US central bank will begin cutting interest rates in 2024 hence the consolidation on the chart. As a result, attention will remain focused on the release of the US Core Personal Consumption Expenditure (PCE) Price Index, which will influence the Fed's future policy decisions and provide a new directional impetus to the price of gold. Given this uncertainty, we will protect all buy positions and remain vigilant for new trading opportunities.
Complement of the season!
Trade active:
#XAUUSD
UPDATE
UPDATE
Trade active:
UPDATE
Trade active:
#XAUUSD
UPDATE
Protect all positions as we look out for new trading opportunities.
UPDATE
Protect all positions as we look out for new trading opportunities.
Trade smart. Trade consciously
In light of these complex dynamics, our focus shifts to the newly identified structure on the chart. This structure becomes our guiding compass as we navigate the market landscape at the beginning of this new trading week.
Good Morning.