XAUUSD / STILL CONTINUES A DOWNTREND - 4HXAUUSD / 4H TIME FRAME
HELLO TRADERS
overall , prices under downward pressure , until trading below 2,507$ , yesterday prices rising to reach turning level , currently trading below it , have two scenario .
The first scenario, where gold prices remain below2,507$, suggests a downtrend because this level is acting as resistance. If prices continue to struggle below this threshold, it increases the likelihood of further declines toward the support levels at 2,491$ and 2,472$. Breaking and stabilizing below the supply zone between 2,472$ and 2,459$ would confirm a bearish trend, as it indicates that sellers are overpowering buyers, driving prices down.
In the second scenario, if the price closes a 4-hour candle above 2,507$, it signals bullish momentum. This would likely push prices to test the next resistance levels at2,519$ and 2,531$. Additionally, if the price stabilizes above 2,526$, it would suggest a breakout from the current range, potentially driving prices to new historical peaks around 2,551$. This is because breaking through key resistance often signals strong buyer interest, pushing prices higher.
KEY LEVELS :
Turning Level : 2,507$.
Resistance Levels : 2,519$ , 2,526$ , 2,531$.
Support Levels : 2,491$ , 2,472$ , 2,459$.
Tradingsignals
AUDCHF Potential Channel breakoutAUDCHF is consolidating after breaking and closing below the key psychological level of 0.5700. The overall trend remains bearish, and the market recently bounced off a resistance zone. On the daily chart, there was a sell-off followed by a pullback to the 61.8% Fibonacci retracement level. The price consolidated around this level before moving lower, breaking through last week's lows. The market now appears ready to break through the channel's border, which could signal a continuation of the bearish trend. The target is the support level at 0.56400
USOIL / UNDER UPWARD PRESSURE - 4HUSOIL / 4H TIME FRAME
HELLO TRADERS
USOIL is currently trading above the turning level of 67.09 and remains above the support trendline, indicating upward momentum. There are two potential scenarios:
The First Scenario , USOIL's trading above 67.09 and staying above the support trendline signals strong buying interest, which suggests upward pressure. The target of 69.98 is a logical resistance level, followed by 71.59, which marks the next significant zone. Stabilization above 71.59 and 72.20 would confirm the strength of the uptrend, as breaking these levels would show that demand is outpacing supply, leading to further price gains.
The Second Scenario , If USOIL fails to maintain the 67.09 level and closes below it on a 1-hour or 4-hour chart, it indicates bearish momentum. This would increase the likelihood of a decline toward 65.35 and 63.67, the next significant support levels. A break below 65.35 could trigger a stronger downtrend as it would suggest sellers are gaining control, particularly if the price falls below the descending channel, reinforcing the bearish sentiment.
KEY LEVELS :
Turning Level : 67.09.
Resistance Levels : 69.98 , 71.59.
Support Levels : 65.35 , 63.67.
The possibility of the Fed cutting interest rates by 25 basis At the beginning of the trading session in the US market, world gold prices increased, and consultants strongly bought gold. The US August jobs report was bullish, giving the US Federal Reserve's (Fed) main currency comfort expectations increasingly high.
Experts say that the number of new jobs in August reached 142,000, lower than the 160,000 jobs previously expected. This has important implications for the Fed's monetary policy.
Furthermore, the unemployment rate decreased slightly from 4.3% to 4.2% but remained high compared to the 3.8% rate recorded a year earlier. The total number of failures has increased from 6.3 million to 7.1 million in the past year, a radical index over the past 3 years, which is building up the Fed's impending interest rate cut.
Experts say that the direction of gold in the near future still depends mainly on the Fed's interest rate policy. If the next US economic data is still good, it will cause the Fed to cut more. This helps gold prices reach new heights.
Gold price analysis September 10Fundamental Analysis
Gold prices struggled to capitalize on yesterday’s rebound from the $2,485 support zone and attracted some selling on Tuesday. However, the commodity held above the psychological $2,500 mark during the early part of the European session as traders appeared reluctant to place directional bets ahead of this week’s US inflation figures. The key US Consumer Price Index (CPI) is scheduled for release on Wednesday, followed by the Producer Price Index (PPI) on Thursday. The data will influence market expectations on the size of the Federal Reserve’s interest rate cut later this month and provide fresh directional impetus to the non-yielding yellow metal.
Heading into the key data risk, the US Dollar (USD) edged closer to the monthly high reached last week amid bearish bets for a larger Fed rate cut in September. This, coupled with a solid performance in global equity markets, is seen undermining safe-haven Gold. Despite the decline, XAU/USD remains confined within a familiar range that has been maintained for about the past three weeks, indicating hesitation among traders about the short-term trajectory. This makes it more prudent to wait for a sharp sell-off to follow before positioning for the recent pullback from the vicinity of the all-time high tested after the release of the mixed US jobs report last Friday.
Technical Analysis
Gold is still approaching the key 2507 price zone. The European session is trying to push above this level to resume the uptrend. SELL signal in this area can be when the price pushes up in the middle of the European session and cannot break it, we SELL and hold until the US session. If the 2495 area is broken, we hold until the US session at the 2483 area. In case gold increases to 2507, we do not BUY and wait to SELL in the 2515-2517 area. The destination is the 2507-2505 area.
SELL 2516 - 2518. Stoploss 2522
BUY 2485 - 2483. Stoploss 2479
BUY 2473 - 2471. Stoploss 2467
Waiting for US economic dataThe gold market continues to be in a very strong position, delaying 23.6% of its price decline. This retracement level was held recently on 4/23/24, 5/6/24 and again on 7/25/24.
You can also find support and resistance fields in the main Gann boxes at high and low levels.
Use the main Gann square 2514.00 as the swing point for the week.
Above that, the long term limit of the entry is 2775.00. The short target is the next largest Gann square at 2578.40.
Below it, there is a 23.6% return to the October 2022 low of 2422.00. Any rally that holds the 38.2% back to the 6/10/24 low maintains an extremely positive trend and could quickly reach new highs.
The dollar index (DXY00) rose +0.37% on Monday. Stronger-than-expected US economic news on Monday gave the dollar a boost. The dollar also rose on reduced expectations that the Fed will cut rates aggressively as markets are discounting the likelihood of a 50 basis point rate cut at next week's FOMC meeting at 31%, down the line at 50%. following the release of the US payrolls report last Friday. The strength of Monday's vote reduced settlement demand for the dollar.
Monday's US economic news was supportive of the dollar. July wholesale revenue increased +1.1% over the previous month, stronger than expectations of +0.3% over the previous month and the largest increase in 5 months. In addition, consumer credit in July increased by +$25,452 billion, stronger than expectations of +$10.4 billion and the maximum increase in 1-1/2 years.
The current economic situation is waiting for the final CPI data to make the Fed's decision whether it is 25 points or 50 points.
September begins with weak US jobs market reportSeptember began with a weak US jobs report and news that Japan had raised interest rates from zero to 0.25%. This sent the CBOE Volatility Index (the “fear index”) soaring from 16 to 38, and crowd favorites like the yen carry trade and the world’s most important stock, Nvidia (NVDA), down double digits.
In his speech at Jackson Hole in late August, Fed Chairman Jerome Powell hinted at future rate cuts. “The time has come for policy to be recalibrated,” he said. “The path is clear, and the timing and pace of rate cuts will depend on the data, the outlook, and the balance of risks.” So they got the message. Rates are falling and the data is weak. The latest US jobs reports show fewer people being hired, fewer new jobs being created, and layoffs are happening more frequently.
GBPAUD What Next? SELL!
My dear followers,
I analysed this chart on GBPAUD and concluded the following:
The market is trading on 1.9644 pivot level.
Bias - Bearish
Technical Indicators: Both Super Trend & Pivot HL indicate a highly probable Bearish continuation.
Target - 1.9542
About Used Indicators:
A super-trend indicator is plotted on either above or below the closing price to signal a buy or sell. The indicator changes color, based on whether or not you should be buying. If the super-trend indicator moves below the closing price, the indicator turns green, and it signals an entry point or points to buy.
———————————
WISH YOU ALL LUCK
USDJPY / BREAKOUT THE CHANNEL - 1DUSDJPY / 1D TIME FRAME
HELLO TRADERS
Currently, prices are experiencing downward pressure and are trading below the turning level of 146.893. This suggests a bearish trend, especially after a breakout from the ascending channel. As long as prices remain below 146.893, the expectation is for them to move towards the next support level at 140.991. Should prices stabilize below this support level, the bearish trend may continue, targeting a further decline to 139.341.
On the other hand, if prices break above 146.893 and stabilize above this level, particularly above the Fair Value Gap (FVG), we could see a reversal in the trend. This bullish shift would suggest a potential rise in prices, with initial targets set at 152.034. If the upward momentum continues, prices could further increase to reach the target of 154.890.
KEY LEVELS :
Turning Level : 146.893 .
Resistance Levels : 152.034 , 154.890.
Support Levels : 140.991 , 139.341 .
Trading signals AUDNZDAUDNZD is in a downtrend. At the end of wave 5, we can catch a BUY signal to reverse the trend when a bullish 2 Dow pattern appears on the h1 time frame. TP 1 is at the old wick peak, equivalent to RR ratio 11. When breaking the trendline, we have TP2.
BUY AUDNZD scalping small Lot now zone 1.08200
↠ Stoploss 1.08000
→ Take Profit 1 1.08400
→ Take Profit 2 1.09200
CADCHF: Important Breakout 🇨🇦🇨🇭
CADCHF formed a huge descending triangle pattern on a daily.
Bearish breakout of its neckline on Friday is an important event
that signifies a strength of the sellers and a highly probable
bearish continuation.
I will look for selling from a supply area based on a broken support
and a falling trend line
Next goal - 0.6167
❤️Please, support my work with like, thank you!❤️
Gold Analysis September 9☘️Fundamental Analysis
Gold prices witnessed an intraday reversal from an all-time high and fell below the psychological $2,500 level after the release of key US monthly employment data on Friday. The mixed US employment report reduced the chances of the Federal Reserve (Fed) cutting interest rates by 50 basis points, which prompted some cover in the US dollar (USD) prices and weighed on the precious metal.
That said, concerns about a US recession dampened investors’ appetite for riskier assets and acted as a driver for safe-haven Gold prices. Additionally, the lack of progress in ceasefire talks between Israel and Hamas became another factor supporting XAU/USD during the Asian session on Monday. This warrants caution for bearish traders amid the prospect of an impending Fed rate cut cycle.
☘️Technical Analysis
Gold is below the 2500 round port level, in fact this port area is no longer strong enough to push gold prices lower. The area of interest in today's European session is around the 2507 Fibonacci 0.5 retracement zone and the 2512 Fibonacci final extension zone. These are two areas of interest for a SELL plan. When 2512 is broken, the downtrend on Friday is reversed. The main candle h4 is broken and ATH comes early this week, the expected level is 255x. The 2331 area is no longer valuable when gold pushes up. In the opposite direction, the 2470-2460 2433 area plays an important support role.
🌸Trading signal
SELL zone 2505 - 2507 Stoploss 2511
BUY zone 2484 - 2482 Stoploss 2479
BUY zone 2473 - 2471. Stoploss 2467
Gold prices are more unpredictable than everThe first week of September culminated in the US jobs report for August. Non-farm payrolls for the US economy increased by 142,000 jobs, up from 114,000 in July, although weaker than the market median estimate of 160,000 (Reuters). US Treasury yields and the US dollar (USD) fell on the news; markets also priced in a 120 basis point cut by the end of the year and nearly 40 basis points for this month's meeting.
Average hourly earnings also rose sharply in August, up +0.4% (MoM), improving on the market period (+0.3%) and the +0.2% increase from the previous release in July. YoY, average hourly earnings rose +3.8% YoY in August, also improving on both the favorable data (+3.7%) and the previous data (+3.6%).
With the economy now balanced and on track to grow at 2%, it is now time to ease the policy setting regime by reducing the target range for the federal funds rate,' he said, but did not comment on whether he would support a 25 or 50 basis point cut.
HEY INVESTOR! Nvidia below $100 is an absolute buy! check it outLet's welcome NVDA to our weekend analysis!
In this analysis, we're primarily focusing on two resistances that the price formed several months ago, which consequently created a gap later on, the price came back to test our blue area, which we'll call our "gap zone."
The price has been fluctuating in a bearish sequence; however, it has not yet reached our point #4 to complete the sequence we've been observing for the past few days.
If the price complete the sequence and reaches our point #4, we're looking an excellent buying opportunity below 100 dollars.
The trend is still bearish, but there are two factors that may suggest a short-term trend reversal:
First , the price has already touched our gap zone, and second , the dividend date is approaching, during which many accumulate shares to receive the dividend and then sell, leading to increased volatility for Nvidia in the coming days.
Just remember, Nvidia's intrinsic value may be positioned below 98 dollars, but if you're looking at it for the long term, this price shouldn't concern you at all.
Best wishes for success in your trading and investment!
Thankyou for supporting my analysis
Best Regards
GBPUSD week 37 analysis🌐Fundamental Analysis
GBPUSD fell sharply after hitting a fresh weekly high above the 1.3200 round-figure resistance against the US Dollar (USD) during Friday's North American session. The GBP/USD pair fell as the US Dollar rebounded strongly following the US (US) Non-Farm Payrolls (NFP) data for August. The US Dollar Index (DXY), which tracks the value of the Greenback against six major currencies, recovered strongly to near 101.40 after falling to near 100.60.
The short-term outlook for the British currency remains upbeat recently as investors expect the BoE's policy easing cycle to be shallower than that of other central banks.
The main reason behind the strong speculation of a gradual BoE easing cycle is that the economy is performing better than previously expected and the fact that inflation in the services sector remains high. In the UK economic calendar next week, investors will focus on the Employment data for the quarter ending in July and the monthly Gross Domestic Product (GDP) data for July. Both of these figures could be key to determining what the BoE will decide to do with interest rates when it meets later this month.
📊Technical Analysis
The NFP pullback is approaching the 1.308 support zone. The uptrend is still strong with a possible retracement to the 1.0 Fibonacci around the 1.301 zone to bounce back to wave 5 and complete the bullish wave pattern. 1.334 would be a nice Fibonacci resistance zone where we can look at the reaction to execute the SELL signals. In the opposite direction, the Dow breakout of wave 1 formed a strong support level around 1.288. The EMA 34 is gradually decreasing in slope compared to the EMA 89, showing that the market structure is leaning towards the upside but not as strong as last week.
Support: 1.301-1.299
Resistance: 1.322- 1.334
🕯Trading Signals
BUY GBPUSD: 1.301-1.299 Stoploss 1.297
BUY GBPUSD: 1.288-1.286 Stoploss 1.284
SELL GBPUSD 1.334-1.336 Stoploss 1.338
DOGECOIN / TRADING INTO DESCENDING CHANNEL - 4HDOGECOIN / 4H TIME FRAME
HELLO TRADERS
The overall trend is downward , until trading below turning level at 0.102
The asset's price action suggests a potential downtrend as it currently trades below the key level of 0.102. This level often acts as a significant turning level , so trading below it indicates bearish momentum. A further decline to 0.094 is expected because it represents the next logical support level where buying interest might increase. If this level fails to hold, the price could drop to 0.084, a stronger support that might prevent further declines.
However, if the price can break above the 0.102 level and sustain that move, it would indicate a shift in market sentiment from bearish to bullish. This could lead to a rally towards 0.112, a resistance level that could attract selling pressure. A continued move higher might take the price to 0.121, where significant resistance could be encountered.
KEY LEVELS :
TURNING LEVEL : 0.102 .
RESISTANCE LEVELS : 0.094 , 0.084 .
SUPPORT LEVELS : 0.112 , 0.121 .
XRPUSDT / REMAIN BELOW ASCENDING CHANNEL - 4HXRPUSDT - 4H
HELLO TRADERS
Tendency , prices is under downward pressure , until trading below turning level at 0.58 .
The prices are currently trading below the ascending channel and are likely to attempt a retest to reach the turning point at 0.58 before beginning a decline toward the support level at 0.54, with a further drop expected down to 0.52.
However, if the 0.58 level is broken and a 4-hour candle closes above it, the price may rise toward the first resistance level at 0.62, and potentially further to 0.65
KEY LEVELS :
Turning Level : 0.58 .
Resistance Levels : 0.62 , 0.65 .
Support Levels : 0.54 , 0.52 .
NOTUSDT / UNDER DOWNWARD PRESSURE - 4HNOTUSDT / 4H TIME FRAME
HELLO TRADERS
The overall trend remains downward as long as trading stays below the turning level of 0.009 .
It is reasonable to expect that prices will remain under downward pressure as long as they stay below the turning level of 0.009 because this level acts as a critical resistance point. Without a decisive break above it, sellers maintain control, leading to potential declines toward the next support levels at 0.007 and 0.006.
The requirement for a 4-hour or 1-hour candle close above the turning level to signal an upward move is justified by the need for confirmation that the market has gained enough bullish momentum to push prices higher. Once this occurs, the path toward the resistance levels at 0.011 and 0.013 becomes more likely, as it indicates that buyers are regaining control.
KEY LEVELS :
Turning Level : 0.009
Resistance Levels : 0.011, 0.013
Support Levels : 0.007 , 0.006
XAUUSD / TRADING SENSITIVE AREA - 4HXAUUSD / 4H TIME FRAME
HELLO TRADERS
The overall trend is downward , until trading around 2,526$ and 2,531$
The expectation of prices rising to $2,526 and $2,531 before dropping can be explained by resistance levels at these points, which often cause a pullback in prices. If gold remains below $2,531, the downtrend is likely to continue, supported by technical indicators showing declining momentum. The forecast of a drop to $2,507 is based on previous support levels where the price tends to stabilize.
However, if gold closes above $2,531 on a 4-hour chart, it suggests a breakout, signaling a shift in sentiment and potentially leading to higher prices, supported by market momentum. The projection of reaching $2,540 and $2,551 aligns with historical price peaks and psychological levels that traders often target in a rally.
KEY LEVELS :
TURNING LEVEL : 2,507 .
RESISTANCE LEVELS : 2,526$ , 2,531$ .
SUPPORT LEVELS : 2,507$ , 2,475$ .
NAS100USD / TRADING BELOW TURNING LEVEL - 4HNAS100USD / 4H TIME FRAME
HELLO TRADERS
The overall trend is downward , until trading below turning level at 19,105 .
The price action points to a likely continued decline due to its inability to surpass the key turning point of 19.105, signaling persistent downward momentum. Staying under this level implies strong bearish pressure, with support levels at 18,699 and 18,351 as possible targets.
On the other hand, breaking above 19.105 would suggest a change in market sentiment towards a more bullish trend, potentially leading to a rise towards the resistance levels of 19,538 and 19,906, driven by increased buying interest and upward momentum
KEY LEVELS :
TURNING LEVEL : 19,105 .
RESISTANCE LEVELS : 18,699 , 18,351 .
SUPPORT LEVELS : 19,538 , 19,906 .
GBPUSD Trading SignalsGBP/USD consolidates near 1.3200 as focus shifts to NFP
GBP/USD trades in a narrow range slightly below 1.3200 in the European session on Friday. Market participants refrain from taking large positions as focus shifts to August Nonfarm Payrolls data from the US, which could influence the Fed's rate outlook.
BUY GBPUSD zone 1.316-1.314 SL 1.312
Gold Price Analysis September 6Fundamental Analysis
Gold prices attracted some buyers for the third straight day on Friday and traded near weekly highs heading into the European session. However, the gains lacked bullish sentiment as investors opted to wait for the release of the key US Non-Farm Payrolls (NFP) report before placing any fresh bets. Meanwhile, rising bets for more rate cuts by the Federal Reserve (Fed) in September weighed on the US Dollar (USD) for the third straight day and provided some support to the non-yielding yellow metal.
Meanwhile, a mixed batch of US employment data released this week suggested the labour market is losing momentum and raised concerns about the health of the economy. This, coupled with persistent geopolitical tensions, dampened investor appetite for riskier assets and turned out to be another factor that acted as a driver of safe-haven Gold prices. However, it would be wise to wait for some follow-through buying before positioning for an extension of the two-day uptrend ahead of key US macro data risks.
Technical Analysis
Gold is looking to make an ATH in today’s US session. The re-approach to the 2523 zone in yesterday’s evening session and the liquid pullback to the 2508 zone and back to the top as the European session began have prompted investors to buy to push prices higher in the US session. The key price zone of 2526 on the breakout in today’s European session is definitely a new all-time high for Gold.
Gold will at least reach 2526 or 2533 before a sharp decline. Now the US session begins and gold pushes down first, the US's upward force will be greater and it is possible to reach the sell zone of 254x.
Resistance: 2526 - 2532 - 2542 - 2555
Support: 2493 - 2485 - 2472 - 2461 - 2454 - 2440
SELL price zone 2530 - 2532 stoploss 2536
BUY price zone 2499 - 2497 stoploss 2492
BUY price zone 2460 - 2462 stoploss 2456
Gold is overhyped ? Nonfarm 9/6/2024Gold's risks this week will be the ADP jobs and unemployment claims report and the nonfarm payrolls report. StoneX analyst Rhona O'Connell said bullion was also under pressure from weak global equities. However, O'Connell believes that the precious metal price trend is still upward and these losses are only corrective.
This year, gold has had an impressive performance and is up more than 20%. On August 20, this precious metal reached an all-time high of 2,531.6 USD/ounce.
Kinesis Money market analyst Mike Ingram has raised his forecast for the yellow metal's resistance above $2,510 an ounce, and he expects the price to break the $2,543 an ounce mark soon.
Talking about gold fluctuations in the near future, Natixis precious metals analyst Bernard Dahdah predicts that gold prices will average about 2,600 USD/ounce by 2025.
With stable domestic gold prices and world gold prices listed at Kitco at 2,496.4 USD/ounce (equivalent to nearly 75.2 million VND/tael if converted at VCB exchange rate, excluding taxes and fees) , the difference between domestic gold and world gold is huge. Price is about 5.8 million VND/tael.