XAUUSD | GOLDSPOT | New perspective | follow-up details
מעודכן
Gold closed last week with a modest 0.59% gain, after touching an all-time high of $2,431. Geopolitical tensions spurred demand for safe-haven assets, pushing gold to its new peak before a pullback due to a strengthening US Dollar.
The release of US inflation data midweek introduced volatility in gold prices. Following the Consumer Price Index (CPI) report, the price dipped to $2,320. However, this downturn was brief as inflation pressures eased, influenced by a lower-than-expected Producer Price Index (PPI) report.
Comments from Federal Reserve officials, including Boston Fed President Susan Collins, Chicago Fed President Austan Goolsbee, and Kansas City Fed’s Jeffrey Schmid, tempered expectations of rate cuts.
Given the recent attacks on Israel by Iranian military forces, this video will illustrate the technical implications on the chart and how to position ourselves for the market’s next moves.
XAUUSD Technical Overview:
In this video, we conducted a comprehensive analysis of the XAUUSD chart, utilizing both technical and fundamental perspectives. Our examination included an in-depth study of key levels, historical price movements, market behaviours, and the interplay between buyers and sellers, aiming to unveil potential trading opportunities.
Our focal point for the week is the $2,335 zone, endowed with historical significance, rendering it a pivotal level for next week's trading activity. The sustainability of bullish momentum above this zone could pave the way for continued buying pressure, potentially propelling prices to new highs. Conversely, the appearance of a breach below the $2,335 level, coupled with persistent selling pressure, might signal a resurgence of bearish sentiment.
#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.
The release of US inflation data midweek introduced volatility in gold prices. Following the Consumer Price Index (CPI) report, the price dipped to $2,320. However, this downturn was brief as inflation pressures eased, influenced by a lower-than-expected Producer Price Index (PPI) report.
Comments from Federal Reserve officials, including Boston Fed President Susan Collins, Chicago Fed President Austan Goolsbee, and Kansas City Fed’s Jeffrey Schmid, tempered expectations of rate cuts.
Given the recent attacks on Israel by Iranian military forces, this video will illustrate the technical implications on the chart and how to position ourselves for the market’s next moves.
XAUUSD Technical Overview:
In this video, we conducted a comprehensive analysis of the XAUUSD chart, utilizing both technical and fundamental perspectives. Our examination included an in-depth study of key levels, historical price movements, market behaviours, and the interplay between buyers and sellers, aiming to unveil potential trading opportunities.
Our focal point for the week is the $2,335 zone, endowed with historical significance, rendering it a pivotal level for next week's trading activity. The sustainability of bullish momentum above this zone could pave the way for continued buying pressure, potentially propelling prices to new highs. Conversely, the appearance of a breach below the $2,335 level, coupled with persistent selling pressure, might signal a resurgence of bearish sentiment.
#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.
הערה
Gold prices saw renewed interest in dip-buying at the start of the week following Iran's direct attack on Israeli territory, which raised concerns about an escalating regional conflict in the Middle East. This geopolitical tension may provide some support for gold prices.At the same time, investors revised their expectations for the Federal Reserve's first interest rate cut, pushing it back to September from June after the release of hotter-than-expected US consumer inflation data last week. The anticipation of higher US Treasury bond yields offers some stability to the US Dollar, creating a potential headwind for non-yielding assets like gold.
Market participants are now focusing on upcoming US macroeconomic data and comments from Federal Reserve officials for additional direction later in the day.
With this in mind, the recently identified range-bound structure serves as our guide for today's trading activity.
Good Morning
הערה
STRUCTURAL UPDATEעסקה סגורה: הגיע לסטופ
#XAUUSDStop-loss hit.
All levels remain valid
עסקה פעילה
#XAUUSDThree buy positions triggered with over 530 pips in profit; secure some profit. Good Night
העסקה בוטלה באופן ידני
All buy positions have been successfully closed, securing a minimum of 300 pips profit, as gold prices encountered resistance around the $2,388 mark during the Asian session.The strength of the US dollar is attributed to expectations that the Federal Reserve will maintain higher interest rates for an extended period, given persistent inflation and the US economy's resilience. This situation is exerting some downward pressure on gold prices, though a significant corrective decline remains elusive.
Market participants are also monitoring ongoing geopolitical tensions in the Middle East, which contribute to a generally cautious sentiment in equity markets. Additionally, anticipation of potential interest rate cuts by major central banks later this year may help limit any downside pressure on gold prices.
In the face of these mixed market conditions, the current structure maintains a bullish outlook. We continue to use identified levels and trendlines on the chart as our guide for today's trading decisions.
Good Morning.
הערה
STRUCTURAL UPDATE | 15 Min Time frameעסקה פעילה
#XAUUSDUPDATE
העסקה בוטלה באופן ידני
All buy positions have been closed as traders exercise caution ahead of Israel's anticipated response to Iran's air strike on Saturday.In the US, Federal Reserve Chairman Jerome Powell spoke at the Wilson Center in Washington on Tuesday, where he managed market expectations regarding potential rate cuts. He highlighted the robust performance of the US economy and the limited progress in reducing inflation so far this year. Powell stressed that reaching the 2% inflation target would take longer than initially anticipated. The prospect of higher interest rates can often diminish the appeal of non-yielding assets like gold.
According to the CME FedWatch Tool, the probability of interest rates remaining unchanged at the Fed's June meeting has increased to 84.8%, up from 78.7% on Monday.
Given the recent shift in sentiment and the ongoing bullish technical structure, we must remain vigilant for potential sellers entering the market. As such, the levels and patterns on our charts should continue to guide our trading decisions.
Good Morning.
הערה
STRUCTURAL UPDATEעסקה פעילה
Buy position triggered; secure positionהעסקה בוטלה באופן ידני
After exiting yesterday's buy position with a loss, our sell position closed with some profit as the gold price makes another attempt to break back above $2,400. Traders are approaching the market cautiously due to the ongoing geopolitical tensions in the Middle East.The US dollar continues to weaken, largely influenced by muted US Treasury yields. This weakening of the dollar may make gold more attractive to investors using other currencies.
However, it is worth noting that in the Fed chair's recent remark, he stated that inflation remains stubbornly high, suggesting that the 2% target may not be achieved soon. This hawkish outlook may diminish the appeal of non-yielding assets like gold.
From a technical perspective, it's important to note that the ascending trendline was breached yesterday. The key question now is whether there will be a retest of the ascending trendline to signal a potential downtrend continuation, or if prices will rebound and climb back above the trendline for an uptrend continuation. We continue to rely on the levels identified on the chart to guide our trading strategy today.
Good Morning
עסקה פעילה
Gold price continues its upward trajectory despite a pullback during the Asian session. Risk-aversion has intensified across financial markets after ABC News confirmed reports of Israeli missiles striking a site in Iran, escalating geopolitical tensions in the Middle East.The market responded positively to this development, as seen by gold's jump to the $2,417 zone before retracing. Traders are now digesting the implications of this attack and monitoring any potential Iranian response.
Meanwhile, hawkish remarks from Federal Reserve officials on Thursday led to a rise in US Treasury yields and the strengthening of the US dollar and it is worth noting that this may moderate the upward momentum of non-yielding assets like gold.
Amid this complex backdrop, we continue to use the levels on the chart as our guide for today's trading activities. We will closely watch how the market reacts to these developments.
Good Morning
Trade smart. Trade consciously
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