⚡️Market news
The price of gold is continuously increasing, following a small recovery from its lowest point in three weeks at the $1,900 mark. This upward momentum has propelled the XAU/USD pair to reach a high point within the Asian session, with values ranging between $1,915 and $1,916. However, there are still uncertainties regarding whether this upward trend will continue.
One of the contributing factors to this rise in price is a decrease in the value of the US Dollar (USD), which reached its highest level since March on Thursday. Consequently, investors are redirecting some funds towards gold priced in USD. The decline in USD can be attributed to profit-taking as there is currently a slightly more relaxed atmosphere surrounding US government bond yields.
Nevertheless, expectations remain strong that interest rates established by the Federal Reserve (Fed) will remain higher for an extended period. This should provide support for US bond yields and ultimately lead to a strengthened Greenback once again.
In summary, although gold prices have recently shown some upward movement due to fluctuations in both USD and government bond yields, it remains uncertain if this trend will persist.
⚡️Optimus's point of view
Gold price is following wave 5 of the elliot wave model, gold has had a strong increase reaching the trendline resistance level of 1930. We had a strategy to catch a sell point in the 1929-1931 price range in the previous strategy. Currently, the price has decreased in the 1924 area, possibly during the golden week to continue following the analytical trend. The target that gold is expected to achieve in one to two weeks is the price range of 1883.
⚡️Plan trading
The main trading strategy of this plan is SELL GOLD 1930-1935 SL 1940 TP 1900.
Short-term trading signals will be updated in the comments section
⚡️Note
Full SL settings for trading signals
Divide the trading volume to enter around the price range
If you feel the profit is enough, you can close 1/2 and move Sl to entry
The price of gold is continuously increasing, following a small recovery from its lowest point in three weeks at the $1,900 mark. This upward momentum has propelled the XAU/USD pair to reach a high point within the Asian session, with values ranging between $1,915 and $1,916. However, there are still uncertainties regarding whether this upward trend will continue.
One of the contributing factors to this rise in price is a decrease in the value of the US Dollar (USD), which reached its highest level since March on Thursday. Consequently, investors are redirecting some funds towards gold priced in USD. The decline in USD can be attributed to profit-taking as there is currently a slightly more relaxed atmosphere surrounding US government bond yields.
Nevertheless, expectations remain strong that interest rates established by the Federal Reserve (Fed) will remain higher for an extended period. This should provide support for US bond yields and ultimately lead to a strengthened Greenback once again.
In summary, although gold prices have recently shown some upward movement due to fluctuations in both USD and government bond yields, it remains uncertain if this trend will persist.
⚡️Optimus's point of view
Gold price is following wave 5 of the elliot wave model, gold has had a strong increase reaching the trendline resistance level of 1930. We had a strategy to catch a sell point in the 1929-1931 price range in the previous strategy. Currently, the price has decreased in the 1924 area, possibly during the golden week to continue following the analytical trend. The target that gold is expected to achieve in one to two weeks is the price range of 1883.
⚡️Plan trading
The main trading strategy of this plan is SELL GOLD 1930-1935 SL 1940 TP 1900.
Short-term trading signals will be updated in the comments section
⚡️Note
Full SL settings for trading signals
Divide the trading volume to enter around the price range
If you feel the profit is enough, you can close 1/2 and move Sl to entry
Trade active:
Gold SELL strategy ready for trading session on Monday. According to Optimus's analysis, gold will have a slight decline to the 1920 area before it can find our entry point.
Trade active:
According to a Bloomberg survey conducted on September 15th, economists predict that a strong US economy will prompt the Federal Reserve (Fed) to raise interest rates once more this year and maintain them at their highest level in years until 2024, which is longer than previously anticipated.
The survey indicates that the Federal Open Market Committee (FOMC) will keep interest rates at 5.25% - 5.5% during its meeting on September 19-20 and maintain them at that level until the first rate cut after the recent tightening period in May 2024. This is more than two months later than economists had forecasted back in July 2023.
Fed policymakers have projected an additional rate hike this year following updates to their economic outlook assessment for the US. However, according to the survey results, economists believe that the Fed will not actually carry out another rate increase.
The survey indicates that the Federal Open Market Committee (FOMC) will keep interest rates at 5.25% - 5.5% during its meeting on September 19-20 and maintain them at that level until the first rate cut after the recent tightening period in May 2024. This is more than two months later than economists had forecasted back in July 2023.
Fed policymakers have projected an additional rate hike this year following updates to their economic outlook assessment for the US. However, according to the survey results, economists believe that the Fed will not actually carry out another rate increase.
Comment:
Gold has touched the daily trendline at the 1932 price range. A SELL signal has been established. SELL GOLD 1933-1935 SL 1941 TP 1925. Scalping trading signal you can take profit if you are satisfied with your profit amount.
Trade closed: target reached:
Short-term gold SELL strategy won 70 pips, congratulations for following my strategy. Follow to update more reputable strategies
Comment:
Comment:
Closing the weekly candlestick has not been able to break through the price of 193x so it is still at the trendline resistance
Comment:
Comment:
Analysis shows that gold has returned 188x according to analysis
Trade closed: target reached:
+ 500pipss from entry SELL 1930
Comment:
Comment:
The 1855 support zone is the next area that gold can rely on before finding 1770
Comment:
Waiting to see if the price can break out past 1812 this week
