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Gold prices weakened after hitting an important resistance levelAlthough gold prices increased slightly yesterday, they adjusted back down early this morning. Gold prices continued to recover during the session on February 20, approaching the resistance level at $2,030. However, this morning the gold price had a slight correction and is currently trading around the construction level of $2,026. Gold's rise is currently being blocked by market expectations that the Fed will continue to keep interest rates unchanged in the near future. On frame D1, the RSI index rebounded strongly to 50, strengthening the short-term recovery momentum. Immediate resistance is the 21-day MA at $2,023, then the 50-day MA at $2,033. Breaking these resistances will attract more buying pressure, with buyers targeting the February 7 peak at $2,044 and key resistance at $2,050. On the contrary, if gold prices fall beyond Monday's session low near $2,011, the decline could extend to $2,005 and the 100-day MA at $2,000.
OANDA:XAUUSD
by SantaTradeGold
RIVN Rivian Automotive Options Ahead of EarningsIf you haven't sold RIVN after the Recall of Its Vehicles Due to Loose Fasteners: nor reentered the Double Bottom: Then analyzing the options chain and the chart patterns of RIVN Rivian Automotive prior to the earnings report this week, I would consider purchasing the 16usd strike price Calls with an expiration date of 2024-3-1, for a premium of approximately $1.55. If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
NASDAQ:RIVNLong
by TopgOptions
XAUUSD : The focus turns to the FOMC meeting minutesDuring the January 2 session, market expectations of the Fed cutting interest rates and geopolitical tensions in the Middle East continued to increase the safe-haven appeal of gold. However, the increase in the DXY index and government bond yields of all terms (with the 10-year yield increasing to 3.93%) may restrain the current upward momentum of precious metals. As of now, gold price is around $2061.24. In the near future, the market's focus will be on the release of the FOMC meeting minutes today, the US unemployment report on Thursday and the NFP report on Friday. Gold today will fluctuate in the 2058 to 2070 range ahead of the FOMC meeting.
OANDA:XAUUSDLong
by SantaTradeGold
USDCAD > High Quality Trend Continuation Trade!!Analysis on #USDCAD trendline support near the very important level for USDCAD, 1.2600 sharp. Waiting to see if the market will come down and tested those levels then look for a valid opportunity that meets my rules for entry to get involved in a high quality trend continuation trade. like and comment will be hugely appreciated, thank you so much for your support. Check today analysis below⠀ >>“ Success is where preparation and opportunity meet." TradingAxis
by TheTradersAvenue
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