Gold Trading Forecast

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Gold Trading Forecast

EUR Forecast: EUR/USD on Breakdown Watch, EUR/GBP Still in No Man’s Land 2023-09-23 09:00:00 EUR (EUR) Latest: US Dollar Struggles, 2023 EUR/ GBP- 09- 21 10: 30:22

Gold Price Reversal Looks Poised For New Highs

Oil Price Update: EIA Inventories Decline Oil Prices Rise 2023-09-20 14:46:05 Crude Oil Prices Fall, Candles Decline 2023-09-20 00:30:00

The Dow, Nasdaq 100 and Nikkei 225 all fell after the hawkish Fed decision

XAU/USD Gains as Gold Suffers Fed Results 09-21-2023 23:00:00 Gold (XAU/USD) Gains as Dollar Index (DXY) Faces Key Resistance The 09-21-2023 14:55:32

Where will USD/JPY, GBP/JPY and GBP/USD trade after the BOE and BOJ rate decisions? 2023-09-22 11:00:43 Sterling falls further after disappointing UK retail sales 2023-09-22 08:08:57

Gold Dax Forecast Two Trade To Watch 2023 07 26

Japanese Yen Forecast: BoJ Forecast USD/JPY Channel Break 2023-09-23 17:00:00 Where will USD/JPY, GBP/JPY and GBP/USD be after BOE and BOJ rate decisions? 2023-09-22 11:00:43

News Japanese Yen Forecast: BoJ Strike Plays USDJPY Dollar Channel High #trading #forex ☑️Read more here: https://t.co/pyt4…

Gold rose 7.2% from a yearly low this afternoon as it bounced back from technical resistance ahead of the Federal Reserve’s interest rate decision. We’re looking at a potential bull run here at 1800. These are the key updated targets and cancellation rates for the gold week to month end. Check out my latest Weekly Strategy Webinar to learn more about this gold technical setup and more.

Start Time: Now Live: 22 Dec (13:12 GMT) Weekly Live Strategy Webinar Register for the Short Term Trading Strategy Webinar on Mondays at 12:30 GMT.

Gold Price: Charts, Forecasts & News

Note: In my last week’s gold price outlook, we noted that the retracement of technical support at 1682/89 “focused on key resistance below the August 2020 trendline on the vulnerability of the recent recovery”. Last week’s rally in XAU/USD came down on this slope, with the February price low at 1785/95, the 2012 high, and continuing to trade below supply resistance – we see a price reversal here. looking for

Open support for the month is at 1707, secured by key support of the 38.2% 2015 Fibonacci retracement/61.8% retracement of 2020 1682/89 and 100% extension at 1648. . A break above/close to this key resistance zone would likely trigger a sharp upside in a scenario that would reveal an inverse close to the yearly high weekly target at 1849.

Bottom line: Gold is testing resistance for a reversal toward the August trend line, and an immediate advance could be vulnerable to the FOMC rate decision later today. From a trading point of view, a suitable zone for long-term reduction/increasing protective stops – note the exhaustion of weakness before the monthly open if the price breaks/closes above 1795, a more significant low should be suggested. Recorded last month. For a detailed look at near-term XAU/USD technical trading levels, see my latest gold price overview.

For a complete breakdown of Michael’s trading strategies, read his Basics of Technical Analysis series on creating a trading S strategy.

Gold Price And Silver Price Forecast For The Days Ahead

Gold mix data provided by customers is net length. The number of customers is net short. Long Short Change OI Daily -4% 18% 2% Weekly 0% -5% -2% Learn How Changes Affect Gold Retail Spots Get My Guide

Gold Extends Post-Fed Losses, XAU/USD Gains 2023-09-21 23:00:00 Hawkish Fed Interruption Continues To Pressure Risky Assets After Fed Risks, Retailers USD/JPY Report 2023-09-21: 05:00 00 Gold and Silver After Federal Reserve: XAU/USD, XAG/USD 2023-09-21 00: Risk of rising Treasury yields. 30:00

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Gold (xauusd) Wave Forecast — Gold Holiday Trade Show Some Little Or No Effort Put Into The Indecisive Market Trading On Fed Rate Bet.

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EUR Forecast: EUR/USD on Breakdown Watch, EUR/GBP Still in No Man’s Land 2023-09-23 09:00:00 EUR (EUR) Latest: US Dollar Struggles, 2023 EUR/ GBP- 09- 21 10: 30:22

Oil Price Update: EIA Inventories Decline Oil Prices Rise 2023-09-20 14:46:05 Crude Oil Prices Fall, Candles Decline 2023-09-20 00:30:00

The Dow, Nasdaq 100 and Nikkei 225 all fell after the hawkish Fed decision

Gold Short Term Price Outlook: Xau/usd Moment Of Truth At Key Support

XAU/USD Gains as Gold Suffers Fed Results 09-21-2023 23:00:00 Gold (XAU/USD) Gains as Dollar Index (DXY) Faces Key Resistance The 09-21-2023 14:55:32

Where will USD/JPY, GBP/JPY and GBP/USD trade after the BOE and BOJ rate decisions? 2023-09-22 11:00:43 Sterling falls further after disappointing UK retail sales 2023-09-22 08:08:57

Japanese Yen Forecast: BoJ Forecast USD/JPY Channel Break 2023-09-23 17:00:00 Where will USD/JPY, GBP/JPY and GBP/USD be after BOE and BOJ rate decisions? 2023-09-22 11:00:43

News Japanese Yen Forecast: BoJ Strike Plays USDJPY Dollar Channel High #trading #forex ☑️Read more here: https://t.co/pyt4…

Gold Price Forecast: Xau/usd Battle Lines Drawn

Gold rebounded in late October as falling U.S. real yields helped the precious metal look relatively favorable. The US 10-year real yield fell to 1.500% today from 1.815% last week, thanks to lower US Treasury yields and rising US inflation expectations (via the benchmark). Gold prices are starting to show signs of a technical reversal as the US dollar weakens (as measured by the DXY index), an early sign of a possible double bottom.

Historically, unlike other asset classes, the price of gold has been associated with volatility. While other asset classes like bonds and stocks do not like high volatility, which represents uncertainty about cash flows, dividend and coupon payments, etc. – Gold benefits when volatility is high. Volatility in gold remains steady, with rising US yields (both nominal and real) and a weaker US dollar allowing gold prices to rise.

Gold volatility (GVZ, as measured by Cboe’s Gold Volatility ETF, which tracks 1-month gold volatility derived from a series of GLD options) at the time of writing It was trading at 19.41. The 5-day correlation between GVZ and gold prices is +0.02 and the 20-day correlation is +0.26. A week ago, on October 18, the 5-day correlation was +0.53 and the 20-day correlation was +0.01.

There are two important observations regarding gold prices in the near term. First, a double down against 1614/17 could be created and supported by the morning star candlestick pattern late last week. This indicates that the view is moving forward. Second, “a pullback from the March and August highs is still possible, but it’s hard to believe that gold prices will see significant gains until the downtrend breaks.” Until the second condition is met – the multi-month downtrend is broken – the potential for a double-down remains limited.

Gold Price Forecast: Bears Remain In Control

Patience is needed, but the situation is such that “at the end of October 1680, the price of gold will break the previous multi-month support (turned resistance) and break the bearish trend of March and August”. High points.”

With a significant uptrend during the week, the long-term view remains intact: “Double top remains, but square bottom around 1680 calls for revision: a major bearish range could form between 1680 and 2075 A top from 1680 is seen. 1800 as the first area before resistance is detected. A sudden change in the environment suggests that the daily time frame (and the 4 hour time frame, etc.) in the coming days. /weeks are better to focus on because technical indicators take longer. change.. a week’s time.”

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Gold: According to retail traders data, 83.92% traders are net long

Gold Prices Rise Above $2,000 For First Time In A Year

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