Search

XAUUSD Is Ready To Reverse

0COMMENTS
55Views
Reading Time: 1 min.
Previous article
Ramalan Harga Emas: XAU/USD menurun ke arah $1,900 apabila ucapan Fed Powell menjadi tumpuan utama
Next article
Gold Price Forecast: XAU/USD Glides Around $1,900, Anticipating Data to Unveil Fed’s Hawkish Signals – Confluence Detector The captivating dance of XAU/USD continues as it gracefully hovers around the $1,900 mark. All eyes are now fixated on the upcoming data releases, eagerly awaiting any signs of the Federal Reserve’s hawkish stance. The Confluence Detector, our trusty companion in deciphering market trends, stands ready to analyze the intricate web of factors influencing gold prices. With its keen eye for detail, it will help us navigate through the labyrinth of information and identify potential turning points. As the XAU/USD pair glides through the market, traders and investors alike are on the edge of their seats, anticipating the release of crucial data. This data holds the key to unlocking the Federal Reserve’s intentions, providing valuable insights into their hawkish or dovish leanings. In this thrilling saga, the Confluence Detector acts as our guide, shedding light on the convergence of technical levels, moving averages, and Fibonacci retracements. Its comprehensive analysis empowers us to make informed decisions and stay ahead of the game. So, as we witness the mesmerizing performance of XAU/USD, let us keep a watchful eye on the data that lies ahead. With the Confluence Detector by our side, we can navigate the twists and turns of the market and seize opportunities as they arise.
FBS

GOLD: US Dollar Hits Supply Zone, What Next?

0
Here's the latest news from Federal Reserve Chair Jerome Powell. While speaking at a conference in Portugal, Powell expressed optimism about the US economy and decreased the possibility of a recession, stating that the economy has shown resilience and is still growing, albeit at a modest pace. He acknowledged the possibility of a recession but
FXStreet

Gold Price Forecast: XAU/USD resilient despite Fed’s rate hike speculations on solid US data

0
Gold price regains momentum above $1900 despite increased odds of Fed rate hikes. US economic data underscores robust growth, pushing XAU/USD to test 200-day EMA. Treasury bond yields soar, underpinning projections of higher rates and potential headwinds for Gold demand. Gold price recovers some ground after sliding below the $1900 figure for the first time
FXStreet

Gold Price Forecast: XAU/USD to find a major floor at the 200-DMA of $1,856 – Credit Suisse

0
The decline in Gold is now on the cusp of Credit Suisse’s target of price and retracement support at $1,900/1,890. The bank analyzes XAU/USD technical outlook. Weekly close below $1,856 to reinforce the longer-term sideways range Gold has declined to our core target of $1,900/1,890 and with the rising 200-DMA seen not far below at
FXStreet

Breaking: ​​​​​​​Gold drops below $1,900 for the first time since mid-March

0
Stronger-than-expected US economic data boosts the US Dollar across the board. US Treasury yields spike higher, putting pressure on Gold. XAU/USD fell below $1,900/oz, reaching its lowest level in three months. Gold prices tumbled following the release of US economic data. XAU/USD broke below $1,900 for the first time since mid-March and fell to $1,894.
FXStreet

Gold Price Forecast: XAU/USD bears keep control, focus on $1,885 and Fed inflation gauge

0
Gold Price stays bearish near the lowest levels since March, braces for the second consecutive weekly loss. Hawkish Federal Reserve talks, upbeat United States data underpin US Dollar strength and weigh on XAU/USD. US-China jitters, Germany’s recession fears and fewer accolades for European Central Bank hawks also favor Gold sellers. China’s official PMIs, US PCE
FXStreet

Exciting Gold Price Forecast: XAU/USD stands firm above the $1,900 mark, while all eyes eagerly await the US PCE Price Index for a burst...

0
Gold price fails to attract any buyers or build on the overnight bounce from a multi-month low. Hawkish major central banks continue to act as a headwind for the non-yielding commodity. The US Dollar stands tall near a two-week high and also contributes to capping the XAU/USD. Investors keenly await the release of the US

Happy Friday, dear traders! This week was intense, and we hope you enjoyed it! Let’s check the news moving the markets today!

  • The yen fell to a new low against the dollar, breaking 145 for the first time in seven months.
  • Experts believe China’s recovery will fail because the government has launched a consumption-driven growth plan, which means the country will stop investing.
  • Virgin Galactic shares (SPCE) fell 14% after the first commercial flight.
  • Some cryptocurrencies skyrocketed because of the rumors about the new crypto exchange in the US called EDX Markets. Bitcoin Cash will be of the main assets for trading on EDX. BCHUSD is up 200% this week. 
  • Import prices in Germany fell 9.1% compared to May 2022. Also, retail sales in May 2023 are up 0.4%. The German economy, which accounts for most of the EU, is feeling better.

XAUUSD analysis

XAUUSDH1.png

According to our analysis, the XAUUSD pair has reached the support level of 1900, corresponding to the global 38.2 Fibonacci level when considering the Retracement starting from the lows observed in October 2022. Furthermore, it is noteworthy that 1900 holds significant psychological significance in the market. Yesterday, there was a notable rebound from this support level, indicating considerable interest from buyers at these price levels. As a result, we anticipate a probable short-term reversal soon. It appears to be an opportune moment to consider purchasing XAUUSD around the 1900 level, with a target of 1930 in mind.

Have a great trading session!

 

LEAVE A REPLY

Please enter your comment!
Please enter your name here

spot_imgspot_imgspot_img

Navigation

Useful Links

Support

About

Built using Newspaper Theme for WordPress.