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XAUUSD: Fed Chairman: No signs of interest rate cuts in the shorPatrick Harker, President of the Philadelphia Fed, stated: At the most recent FOMC meeting, supported a steady interest rate approach.There are no immediate plans by the Fed to lower interest rates, so they will remain high for longer.It's time to evaluate the effects of previous interest rate rises.Depending on the statistics, the Fed may decide to raise or maintain interest rates in the future.A better equilibrium is being reached in the labor market.In 2024, the unemployment rate will increase to 4.5% before declining.Assured of a gentle landing Though not yet in a recession, growth may slow After steadily declining to 3% in 2024, inflation drops to 2%.
OANDA:XAUUSDShort
by Chart_MasterPro
1
XLMUSDT.P Price analysis (2H) I'm no expert in trend analysis by any means and this is NOT a trade signal! I still have a long way to go, but wanted to share my thoughts on XLMUSDT.P today and maybe get some feedbacks. XLMUSDT.P is in an uptrend, and my analysis is that the uptrend will continue until the price reaches the resistance level (marked as a black line in the image) which has a history of price reacting to it in numerous occasions according to the D1 and W1 charts.
Long
by QJEEE
GOLD - Gold selling strategyGold price on Kitco closed last week's trading session at 1,992 USD/ounce. Investors' worries about the Israel-Hamas conflict still exist, but that cannot help gold prices surpass the threshold of 2,000 USD/ounce. It is because the gold price cannot surpass this important threshold that has caused market psychology to become cautious. Some analysts believe that gold prices are being hindered by the price level of 2,000 USD/ounce. If gold prices are consolidated in the near future, the precious metal price may soar to a new all-time high. Commodity analysts say that geopolitical factors are having a major impact on gold and that as concerns subside, the precious metal's safe-haven appeal will be reduced. According to Tastylive.com expert Christopher Vecchio, safe haven purchasing power thanks to the geopolitical crisis is being depleted. While geopolitical conflict can provide trading impetus for gold, it does not have a long-term effect.
TVC:GOLDLong
by FalCol_TradingMaster
XAUUSD - Trading strategy before Nonfarm newsWorld gold prices this morning were stable with spot gold increasing by 2.6 USD to 1,985.1 USD/ounce. Gold futures last traded at 1,993.7 USD/ounce, up 6.2 USD from yesterday morning. World gold is relatively stable although the labor market shows signs of decline. A recent report from the US Department of Labor showed that the number of US workers applying for unemployment benefits for the first time increased more than expected. Specifically, the number of weekly applications for unemployment benefits increased to 217,000 in the week ending October 28, an increase of 5,000 applications compared to the previous week's adjusted level of 210,000. Economists forecast unemployment claims will stay around 210,000. According to experts, gold does not react much to weak employment data because the market is still paying attention to the recent policy decisions and stance of the US Federal Reserve (Fed). Carlo Alberto De Casa, market analyst at Kinesis Money, said that bullion prices need to more or less consolidate a bit before continuing to rise as the long-term view remains positive. As analysts expected, the Fed kept interest rates steady on Wednesday, as policymakers work to determine whether financial conditions are tight enough to keep inflation in check. . According to CME Group's FedWatch Tool, traders are currently assessing an 80% chance that the Fed will pause interest rate hikes in December.
OANDA:XAUUSDLong
by FalCol_TradingMaster
Harmony Secret Retest + Falling Wedge🚀Harmony (ONE) has been quietly making strategic moves in the crypto arena, and one of its recent maneuvers has unveiled an essential yet often unnoticed aspect of chart analysis: the retest of a crucial trendline. Furthermore, the formation of a substantial falling wedge on its weekly chart is sending bullish signals, indicating potential for exciting price action in the near future. 📉🚀 Rediscovering the Trendline Retest Trendline retests are like hidden gems on a crypto chart. Harmony (ONE) showed its mettle by retracing back to a significant trendline, often going unnoticed by the crowd. This retest is a crucial aspect of price action analysis, as it confirms the trend's strength or highlights potential reversals. The Falling Wedge: A Bullish Playground But that's not all; Harmony (ONE) has another ace up its sleeve. The formation of a substantial falling wedge on the weekly chart is a hallmark of a bullish trend reversal. Falling wedges are characterized by a series of lower highs and lower lows that eventually converge. Once the price breaks out from the upper trendline, it typically embarks on an upward journey. Trading Strategy: Navigating the Harmonious Journey For traders and investors, recognizing these patterns is paramount. Harmony (ONE) provides an opportunity to enter or add to positions when the price eventually breaks out from the wedge. However, always integrate this insight into your comprehensive trading strategy, which includes risk management and exit plans. Conclusion: Harmony's Melodious Move Harmony (ONE) is orchestrating a melodious move in the crypto space, blending a stealthy trendline retest with the formation of a powerful falling wedge. This harmonic combination provides a potential setup for bullish price action in the coming weeks. 🚀 Crypto Insights | 💡 Trading Strategies | 💰 Market Analysis ❗See related ideas below❗ Share your thoughts and insights on Harmony's subtle yet promising chart formations.💚🌐💚
Long
by Yaroslav_Krasko
JBL- on the reboundFrom mid July till now, SPX and NQ had been undergoing corrections resulting in lower highs (LH) and lower lows (LL). Although there is a chance the correction in SPX could be over, we can never be sure until it manages a higher high (HH) at least. JBL on the other hand, has demonstrated good relative strength to the market, eking out higher highs (HH) and higher lows (HL) despite the broader market correction. This type of stock has a higher odd to out perform the market for the longer run. It appears to be finding support at the 61.8% fib retracement of its recent AB upswing, supported by a bullish divergence between it's price and RSI. Going long with an initial stop about $1 below its recent pivot low @ C ($119). Trail stops up when trade is working out. Disclaimer: This is just my own analysis and opinion for discussion and is NOT a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management (ie trailing stop loss and position sizing) is (probably the most) important! Take care and Good Luck!
NYSE:JBLLong
by Juliac
Unlocking Gold's Next Move Factors at Play in the Marketgold price is gaining momentum in anticipation of a further increase, with the Bull Flag pattern still in effect, giving hope to buyers. The 14-day Relative Strength Index (RSI) is approaching overbought levels, indicating the potential for more upward movement. The immediate resistance for the gold price is at $1,997, which corresponds to the five-month highs. Breaking above $2,000 on a weekly closing basis is crucial for further gains. The next significant resistance level is around $2,020, which represents the mid-May highs. On the other hand, if the price is rejected near the multi-month high of $1,997, it could lead to a sharp correction towards the previous day's low at $1,972. If it continues to decline, the next support level to watch is at $1,963, followed by the psychological level of $1,950. Gold is currently trading above $1,980 as it takes a pause after recent volatile trading. Factors influencing the market include the possibility of Japanese FX intervention, strong US Gross Domestic Product (GDP) data, ongoing Middle East concerns, and positive earnings from Amazon.com Inc. The focus is shifting to US inflation data. The positive market sentiment is partially suppressing the US Dollar and US Treasury bond yields, allowing gold to maintain its positive momentum. Investor optimism is fueled by strong post-market earnings reports from US tech companies, including Amazon.com Inc. Despite geopolitical tensions in the Middle East, including military strikes by the US and preparations for a ground invasion in Gaza, gold remains influenced by broader market sentiment, geopolitical developments, end-of-week flows, and bond market movements. The US Congress has a new Speaker of the House, Mike Johnson, and concerns about a government shutdown persist. While the US Personal Consumption Expenditures - Price Index is on the horizon, it may receive limited attention as the recent US Q3 GDP report already included quarterly PCE inflation figures. The report showed a 4.9% annualized growth rate in the third quarter, surpassing the 4.2% estimate, largely driven by factors such as consumer spending, inventories, exports, residential investment, and government spending. This economic performance aligns with the Federal Reserve's outlook for higher interest rates in the future, even though it didn't significantly impact the US Dollar or Treasury bond yields. Gold initially corrected lower in response to the data but later found support to close slightly higher on Thursday.
CAPITALCOM:GOLDLong
by sabellaFX