Discover an enticing Selling opportunity in GOLD as it undergoes a critical retest of a key resistance area. With market analysis, technical indicators, and price action as your allies, evaluate the potential downside move. Stay vigilant and informed to capitalize on this precious metal's market dynamics.
Gold stabilizes near $2,030, eyes on FOMC Minutes Gold clings to marginal daily gains at around $2,030 on Wednesday after closing the first two days of the week in positive territory. The benchmark 10-year US Treasury bond yield edges lower ahead of FOMC Minutes, helping XAU/USD hold its ground. From a technical perspective, sustained strength and acceptance...
The EUR/USD pair picked up some momentum ahead of the daily close but remains below the 1.0800 threshold. From a technical point of view, the daily chart shows that EUR/USD remains below its moving averages, with a bearish 20 Simple Moving Average (SMA) about to cross below the 100 SMA, both converging in the 1.0790 price zone. At the same time, technical...
From a technical perspective, this week's break above the 200-day SMA and a subsequent move beyond the $1,947-1,948 supply zone favour bullish traders. That said, the Relative Strength Index (RSI) on hourly charts is flashing overbought conditions and makes it prudent to wait for some near-term consolidation before the next leg up. Nevertheless, the Gold price...
Gold price lacks bullish conviction amid a further rise in US bond yields, ahead of Powell Gold price gained strong positive traction on Wednesday and shot to its highest level since early August above $1,960 in the wake of the risk of an escalation in the Middle East conflict. Early Thursday, XAU/USD consolidates its gains near $1,950. Gold now buy 1951 Target...
Gold price oscillates in a range near one-week peak, positive risk tone caps gains Gold price advances to over a one-week high during the Asian session on Tuesday. Geopolitical tensions in the Middle East and retreating US bond yields lend support. A positive risk tone caps gains as traders look to the FOMC minutes and the US CPI. Gold now sell 1857 Sell limit...
Gold price reverses modest uptick, bears regain control ahead of US NFP Gold price struggles to capitalize on its modest intraday positive move to the $1,825 area on Friday. Bets for more Fed rate hikes in 2023, elevated US bond yields and a bullish USD continue to weigh. Traders now look forward to crucial US NFP for a fresh directional impetus. Gold now sell...
Any meaningful recovery for the Gold price, however, remains elusive in the wake of rising bets for further policy tightening by the Federal Reserve (Fed), which should act as a tailwind for the USD and the US bond yields. Traders might also prefer to wait on the sidelines ahead of the US Core PCE Price Index on Friday, which will provide fresh cues about the...
From a technical perspective, the Relative Strength Index (RSI) on the daily chart is flashing oversold conditions and makes it prudent to wait for some near-term consolidation or a modest bounce before positioning for any further losses. That said, the overnight swing high, around the $1,880 region, is likely to act as an immediate strong barrier. A sustained...
Following a quiet European session, Gold price turned south in the second half of the day and dropped below $1,860 for the first time since March. Although the US Dollar struggles to find demand, the ongoing rally in the US yields continues to weigh on XAU/USD. Gold now sell 1865 Sell limit 1870 Target 1861 Target 1857 Target 1841 SL 1878
Gold price now seems to have found acceptance below the $1,900 mark, which, along with bearish oscillators on the daily chart, suggests that the path of least resistance is to the downside. Hence, some follow-through weakness towards retesting the August monthly swing low, around the $1,885-1,884 region, looks like a distinct possibility. Some follow-through...
The immediate support is now seen at the previous week’s low of $1,914, below which flloor would reopen toward the $1,910 round figure. The next relevant demand are is seen at the $1,900 mark. On the flip side, a sustained break above the 21 and 200 DMA confluence of $1,926 is needed to take on the 50 DMA at $1,929 on again. Gold buyers will then target the...
Gold price remains capped below the critical support-turned-resistance at $1,926, where the 21- and 200-Daily Moving Averages (DMA) coincide. On Friday, Gold price managed to pierce through the latter to challenge the bearish 50 DMA at $1,929 but failed to find any acceptance, as Gold sellers re-emerged. The 14-day Relative Strength Index (RSI) indicator also...
Gold remains on the defensive below $1,940 amid the Fed’s hawkish stance Gold price (XAU/USD) loses momentum around $1,920 during the early European session on Monday. Meanwhile, the US Dollar Index (DXY) attracts some buyers and hovers around 105.60, near the highest level since March 2023. Gold now buy 1925 Limit buy 1922 Target 1929 Target 1933 Target 1947 SL 1916
Gold price hovers around $1,930 during the early trading hours of the European session on Thursday. Investors seem to shift their focus on upcoming US data after the US Federal Reserve’s (Fed) decision on policy rates. Gold now buy 1926 Mitm buy 1922 Target 1930 Target 1934 Target 1944
...that momentum on MACD, that weekly candle confirmation, that stochastic... any body with me?
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