I personally think short term maybe lower, but the purpose here is to consider the outcome of a new asset following the path of another with the participants being the same people.
filb.
Market participants will also be closely watching comments from Fed officials next week. The chance that the Fed will adjust policy in September remains slightly above 50%, according to data from the CME Fed Watch Tool. Market positioning suggests the dollar could face selling pressure if Fed policymakers leave the door open to a rate cut in September.
...
- Quite a run on gold
- Left a lot of inefficiencies behind
2 potential targets annotated on the chart
Gold can take its sweet time to accumulate shorts
This week will be interesting, potentially choppy
It looks like we have an impulsive count to the downside for a C or 5th wave. I'm looking for the Green 5th wave to extend to the deeper fibonacci target of 278% after a decent 4th wave bounce... but first it needs to complete blue 345 to the downside.
Deeper Targets possible - will update the idea as it progresses.
Gold is very often able to outperform US Dollar (vs foreign currencies) strength in its bull eras.
I made it easy for you to spot when the march upwards resumes on this daily chart.
Now don't say I can't help ;-)
#gold #dxy #usdollar
The strong performance of the U.S. ADP employment data in April provided new challenges for the Federal Reserve's monetary policy. In this context, the reaction of the gold market is particularly worthy of attention. After the data was released, gold fell back 4 US dollars in the short term and then rebounded. The number of ADP jobs in the United States increased...
Overall we are trending up on the weekly time frame. We are now having a pull back. The previous weeks candle closed very bearish. We have a weekly gap that we need to fill and it looks like within that gap, there is an area where price had a lot of aggressive buyers & sellers. This price tag is 2262.3. I will be looking to short that once we break out of our...
If Sustain above 2309.6 then 2324.6 to 2325.9 or 2328.5 to 2331.3 or 2333.6 above this bullish then 2347.1 to 2353.8
If Sustain below 2302.0 then 2286.1 to 2283.0 or 2280.7 to 2278.0 below this bearish then 2263.6 to 2256.9 or 2254.1 below this more bearish
Consider some buffer points in above levels.
Please do your due diligence before trading or...
CURRENT PRICE: 2296.5
2278 to 2288 is the bullish zone for gold as mentioned in the chart, plus 200 SMA is also providing support at 2293. Price is bouncing from this level and is currently trading at 2296.
Till the price is above this support zone BUY is recommended to target 2304.5 and 2323.6.
Whereas breach and stability below this support zone will result...
Israel suddenly launched an air strike on Rafah, and nearly 100,000 people began to evacuate. On the night of the 6th, the war in the Middle East escalated again.
Geographical risks have been the focus of global attention in the past two years. Since the outbreak of the Ukraine-Russia war and the Palestinian-Israeli conflict, risk aversion has been...
gold futures
Quote from last week:
bear case: Given the bullish climactic nature of the last 2 months, some correction is on order but bears need follow through below 2300 for a retest of the breakout around 2250. On the daily chart, this too is a two legged correction but it’s looking much less bearish, because we are still around the lower bull wedge line....
if Sustain above 2357.7 or 2359.4 then 2367.5 to 2369 then 2375.6 above this bullish then 2412.5 then 2423.9 then 2432.4 to 2440.5 or 2448.5
if Sustain Below 2339.1 then 2331 then 2323 then 2314.2 to 2302.9 Strong level then 2294.5 or 2286.5 below this more bearish then 2229.6 to 2221.5 then 2213.5 to 2204.5 or 2193.2
Consider some buffer points in above...
If Sustain above 2305.1 then 2310.4 to 2311.8 above this bullish movement then 2328.5 then 2341.8 to 2344.1 or 2347.0 then 2352.3 then Swing trade Bullish to 2378.4 to 2383.6 then 2393.0 then 2401.4 then 2408.6 to 2409.4
If Sustain below 2296.2 to 2295.1 then 2287.0 then 2279.6 then 2263.9 Swing trade bearish then 2237.2 to 2231.9 then 2302.1 to...
if Sustain above 2318 then 2333.0 to 2336.0 then 2345.8 to 2347.3 then 2354.4 to 2357.0 then 2373.7 to 2377.2
if Sustain Below 2318 then 2311 then 2309 to 2305.5 or 2302.9 then 2291.7 then 2281.7 then 2274.7 to 2271.5 or 2268.5
Consider some buffer points in above levels.
Please do your due diligence before trading or investment.
**Disclaimer -
I am not a...
As we observe gold on the hourly, it was stagnant throughout today's NY session. I have also mark an ascending trendline. For me to jump in a buy I would need for it to crack 2337 and a retest. For a selling opportunity, I need it to break this TL and crack below 2327. I see this as a perfect opportunity for a breakout to happen on either direction.
