TinaTradingGold

TinaTradingGold

The euro gained 1.08% to $1.0991, the highest since Nov. 29. It is on track for its biggest daily percentage gain since Nov. 14. The ECB kept rates steady and pushed back against bets on imminent cuts to interest rates on Thursday by reaffirming that borrowing costs would remain at record highs despite lower inflation expectations. “The ECB was unable to...

TinaTradingGold

Focusing on technical analysis, XAU/USD retains a bullish outlook, although its upward journey may encounter temporary setbacks. This means there could be transient pullbacks in the uptrend, especially if overbought conditions are reached. We are not there yet, but the 14-day RSI indicator is heading in that direction, In terms of major levels to watch, resistance...

TinaTradingGold

Gold rose to around $2,030 an ounce on Thursday, hitting its strongest levels in a week as the dollar and Treasury yields weakened sharply after the US Federal Reserve held interest rates steady and signaled three rate cuts in 2024. Fed officials expect to lower rates by 75 basis points in 2024, more aggressive than indicated in September’s projections, and...

TinaTradingGold

The Federal Reserve is expected to leave interest rates on hold in a decision at 1900 GMT, and how the dollar moves afterward will depend on whether policymakers counter recent growing expectations for rate cuts next year, UniCredit Research analysts say in a note. UniCredit doesn't expect the Fed to "push back firmly against recent market expectations of...

TinaTradingGold

Gold was subdued around $1,980 an ounce on Wednesday, holding near its lowest levels in three weeks as investors cautiously awaited the US Federal Reserve’s interest rate decision. The US central bank is widely expected to hold rates steady, but traders will focus on Fed Chair Jerome Powell’s commentary amid bets of rate cuts in the first half of 2024. Still, a...

TinaTradingGold

The Indian rupee opened marginally higher on December 12 tracking gains in local equity and Asian currencies. At 9.10am, the home currency was trading at 83.37 a dollar, up 0.03 percent from its previous close of 83.39. Traders awaiting CPI and IIP data due later today. India's headline inflation rate likely jumped to 5.8 percent in November from October's 4.87...

TinaTradingGold

There was little oscillation during the Asian session last Friday. After ascending to $2034, gold plummeted below $2000 after the employment data was released. Moreover, gold once reached $1995, and then rebounded above $2000 after gaining support, ending the two consecutive gains with a big bearish candle, and returning to a weak pattern. At present, gold fell...

TinaTradingGold

EUR/USD rallied vigorously last month, but has sold off in recent days, with prices slipping and closing below the 200-day moving average last week – a bearish technical event. If the pair deepens its pullback in the coming days, a retest of the 50-day SMA could come any minute. Continued weakness may shift focus towards trendline support near 1.0620. Conversely,...

TinaTradingGold

Gold edges higher in the early morning Asian session in a likely position adjustment, with focus on U.S. CPI data and the FOMC meeting this week. The precious metal is still holding above $2,000/oz, a key short-term support level, Fawad Razaqzada, market analyst at City Index and forex.com, says in an email. Gold has to hold this level in order to sustain its...

TinaTradingGold Updated 

GBP/USD's slight upside in the second release, powered by the rebound from the main trendline. However, it is important to realize that this movement overlaps with Labor Day in the United States. This timing adjustment may contribute to the deletion of missing accounts on the current field, which could potentially affect its position. As attention turns to...

TinaTradingGold

Yesterday, gold prices edged higher to $2036 in the Asian session and then fell rapidly to around $2017. After gaining support, gold prices rebounded to around $2025 and finally closed with a small bull candle, which also ended the 2 consecutive declines. The market began to stabilize. Investors who want to go short need to be cautious and should not chase the...

TinaTradingGold

The euro EURUSD inched 0.07% lower to $1.0757, its lowest point since Nov. 14. The single currency is down 1% this week and is on course for the steepest weekly decline since May. Traders are betting that there is about an 85% chance that the ECB cuts interest rates at the March meeting, with almost 150 basis points' worth of easing priced by the end of next...

TinaTradingGold

Gold's target today will slowly increase again until it reaches 2050. If gold breaks 2050, gold will go up to 2061, then gold will fall sharply next week. The prospect of lower interest rates is still an important factor supporting gold prices, but analysts say investors do not want to place big bets before the US Department of Labor releases the November jobs...

TinaTradingGold

GBP/USD fell on Tuesday, extending its drop for a second consecutive day after failing to clear a key ceiling near 1.2720, which corresponds to the 61.8% Fibonacci retracement of the July/October slump. Should losses deepen this week, it is important to watch how prices behave around the 1.2590-1.2570 support zone, bearing in mind that a breakdown could expose the...

TinaTradingGold

Yesterday, gold prices saw an inverted deep V-shape reversal. Gold prices surged sharply higher in morning trading, hitting an all-time high of 2145. Subsequently, they fluctuated downwards, stopped falling around 2020, and finally closed with a full bear candle with a long upper shadow. At this point, the gold price trend has also shown signs of a top, forming a...

TinaTradingGold

EUR/USD rallied vigorously in November, but has started to retrace some of that advance in recent days, with bearish pressure easing as prices tested the 200-day simple moving average. It is important for bulls to defend this technical indicator, which currently symbolizes support; a failure to do so could result in a decline toward 1.0765, followed by 1.0650. On...

TinaTradingGold

GBPUSD failed to find acceptance above the 1.2700 mark on a daily timeframe, spending the best part of 5 days attempting to break higher. Having printed a fresh high however, the pair was in line for a retracement which has been facilitated by a return in US Dollar Strength. The question now will be whether we can push on toward the 1.2500 handle and beyond? There...

TinaTradingGold

Gold pulled up quickly in the European and U.S. sessions after falling from $2049 to $2033 in the Asian session, once reached $2075 and approached the historical high. Many significant positions are accumulated to prepare the new high for this morning. Moreover, stop-loss orders were removed in the morning session and gold once ascended to $2145 by over $70....