XAU/USD | GOLDSPOT | New perspective | follow-up details

31 mar

Gold prices surged to a record high last week, marking their most impressive monthly performance in over three years. This remarkable rally was primarily fueled by mounting expectations of U.S. interest rate cuts and robust safe-haven demand.

Furthermore, escalating geopolitical tensions on a global scale may drive investors towards gold as a preferred neutral reserve asset. While the potential for gold to extend its gains exists, particularly if market sentiments shift towards anticipating a more aggressive Fed-cutting cycle, caution is warranted as signs of buying fatigue are beginning to surface in the short term.

Moreover, concerns are arising regarding inflation running higher than desired by policymakers, underscoring the need for vigilance. Market participants eagerly await insights from the upcoming speech by the Fed's Chair, as it could offer valuable clues regarding the future path of interest rate decisions.

This video will outline our strategic preparations for the upcoming week, considering these critical factors shaping the gold market landscape.

XAUUSD Technical Overview:
In this video, we conducted a comprehensive analysis of the XAUUSD chart, utilizing both technical and fundamental perspectives. Our examination included an in-depth study of key levels, historical price movements, market behaviours, and the interplay between buyers and sellers, aiming to unveil potential trading opportunities.

Our focal point for the week is the $2,190 zone, endowed with historical significance, rendering it a pivotal level. The sustainability of bullish momentum above this zone could pave the way for continued buying pressure, potentially propelling prices to new highs. Conversely, the appearance of a reversal pattern or a breach below the $2,190 level, coupled with persistent selling pressure, might signal a resurgence of bearish sentiment.
#GoldMarket #SafeHavenAssets 📺🔔💼

Disclaimer Notice:
Please be aware that margin trading in the foreign exchange market, including commodity trading, CFDs, stocks, and other instruments, carries a high level of risk and may not be suitable for all investors. The content of this speculative material, including all data, is provided by me for educational purposes only and to assist in making independent investment decisions. All information presented here is for reference purposes only, and I do not assume any responsibility for its accuracy.

It is important that you carefully evaluate your investment experience, financial situation, investment objectives, and risk tolerance level. Before making any investment, it is advisable to consult with your independent financial advisor to assess the suitability of your circumstances.

Please note that I cannot guarantee the accuracy of the information provided, and I am not liable for any loss or damage that may directly or indirectly result from the content or the receipt of any instructions or notifications associated with it.

Remember that past performance is not necessarily indicative of future results. Keep this in mind while considering any investment opportunities.

1 kwi

Uwaga

The price of Gold continues its ascent to reach a new record peak, fueled by growing expectations for a June rate cut by the Federal Reserve. However, caution is advised as overbought conditions on higher timeframes signal a need for careful navigation in the current market environment.

Friday's release of the US Personal Consumption Expenditures (PCE) Price Index showed a moderate increase in inflation for February, reinforcing market predictions of Fed rate cuts starting in June. This ongoing anticipation keeps the US Dollar (USD) under pressure, thereby supporting safe-haven assets like Gold.

Furthermore, persistent geopolitical tensions arising from the prolonged Russia-Ukraine conflict and ongoing strife in the Middle East provide additional impetus to Gold prices.

Given these factors, the prevailing trend for Gold appears to favor further upside movement. It's worth noting, however, that trading volumes may be lighter today due to the Easter holiday, potentially impacting market dynamics. As always, we'll rely on key chart levels to guide our trading decisions for today's session.

Season's greetings.

1 kwi

Uwaga

#XAUUSD

STRUCTURAL UPDATE | 15 Min

1 kwi

Zlecenie aktywne

#XAUUSD

Short-term sell triggered; secure some profit while we look out for new trading opportunities.

2 kwi

Uwaga

Yesterday's sell positions closed with modest gains as buying pressure resumed, anticipating the release of US jobs data later today.

However, escalating geopolitical tensions, notably an Israeli strike near Iran's embassy in Syria's capital, coupled with uncertainty surrounding the Federal Reserve's interest rate decisions for the year, dampened global risk sentiment. This bolstered demand for safe-haven assets like Gold.

Additionally, robust US manufacturing data released on Monday tempered expectations for a June rate cut by the Federal Reserve, prompting investors to scale back their bets accordingly. Consequently, US Treasury bond yields remained elevated, supporting the US Dollar and limiting further price appreciation.

Given the stretched market conditions on higher timeframes, buyers seem inclined to await near-term consolidation before making significant moves, especially in anticipation of US macro data and speeches by FOMC officials scheduled for today.

As such, we'll be closely monitoring the new structures/levels on the 1-hour timeframe for trading cues, anticipating notable market movements following the Easter holiday.

Good Morning

2 kwi

Zlecenie aktywne

UPDATE

Buy position triggered; the ascending trendline remains our guiding light🚦

2 kwi

Zlecenie aktywne

#XAUUSD

Secure more profits

3 kwi

Zlecenie zamknięto ręcznie

All buy positions were closed with a minimum of 300 pips profit amid profit-taking following a recent strong surge to a fresh record high.

The markets have been adjusting their expectations for a potential June interest rate cut by the Federal Reserve (Fed) in light of robust US macro data, signaling a resilient economy. This has bolstered US Treasury bond yields, providing support for the US Dollar (USD) and putting pressure on gold, especially considering slightly overbought conditions on higher timeframes.

Despite this, significant downward movement in gold prices appears constrained due to a softer risk tone, which typically favors safe-haven assets. Therefore, it's essential to use the ascending trendline as a guide for potential continuation of the uptrend.

Furthermore, persistent geopolitical tensions arising from conflicts such as the Russia-Ukraine war and ongoing Middle East turmoil, coupled with uncertainty surrounding the Fed's rate-cut plans and the recent earthquake in Taiwan, continue to weigh on global risk sentiment. Consequently, it's advisable to await substantial follow-through selling before confirming any potential peak in XAU/USD.

Today's focus will be on US macroeconomic data for additional market insights. As such, we'll closely monitor the ascending trendline as a key indicator for trading decisions. A detailed analysis of the current market dynamics will be provided in our upcoming live session. See you soon!

Good Morning

3 kwi

Uwaga

#XAUUSD

STRUCTURAL UPDATE | 15 Min

3 kwi

Zlecenie aktywne

#XAUUSD

STRUCTURAL UPDATE | 15 Mins

Three buy positions triggered; it is time secure some more profit as we look out for new trading opportunities.

4 kwi

Zlecenie aktywne

Gold Price Consolidates Near Record Highs Amidst Dollar Softness and Geopolitical Tensions

As Gold prices continue to consolidate around fresh record highs, driven by persistent weakness in the US Dollar and extended retreat in US Treasury bond yields, it is prudent to ensure all buy positions are securely managed.

While the bullish momentum remains intact, caution is warranted due to overbought conditions on higher timeframes. Additionally, a positive sentiment in equity markets has tempered demand for safe-haven assets. However, the geopolitical landscape, characterized by the ongoing Russia-Ukraine conflict and tensions in the Middle East, sustains the need for vigilance.

The descent of the US Dollar, fueled by uncertainty surrounding the Federal Reserve's interest rate-cut path, has provided support to Gold prices, mitigating potential downside risks. Despite indications from FOMC members, including the Fed Chair, about potential rate cuts in 2024, the timing remains uncertain. The Fed Chair emphasized the necessity for a thorough evaluation of inflation dynamics and the requirement for further deliberation before any rate adjustments.

In this uncertain environment, it is essential to secure existing profits while monitoring market reactions to the ascending trendline and the $2,295 zone, for potential new trading opportunities today.

Good Morning

4 kwi

Zlecenie aktywne

#XAUUSD

Two sell positions triggered, secure some profit as we look out for new trading opportunities.

4 kwi

Zlecenie zamknięto ręcznie

All sell positions closed as price action attempts to climb above the ascending trendline. We are now looking to buy above the ascending trendline [breakout/retest] and the $2,295 with the option of selling below the $2,286.50 open.

5 kwi

Zlecenie zamknięto ręcznie

In response to the second consecutive day of Gold's downward drift and its consolidation phase, all positions have been closed. This movement aligns with the strengthening of the US Dollar (USD), propelled by hawkish sentiments expressed by Federal Reserve (Fed) officials. The USD's resurgence is diminishing the attractiveness of safe-haven assets, including Gold.

Market participants are also adjusting their positions ahead of the imminent release of the Nonfarm Payrolls (NFP) report. This anticipated economic data holds significant weight as it could provide fresh insights into the Fed's future rate-cut decisions, consequently impacting both USD demand and Gold prices.

While the market navigates these developments, geopolitical tensions stemming from ongoing conflicts, notably the Russia-Ukraine war and potential escalations in the Middle East, continue to provide underlying support for Gold.

To navigate this market dynamic, the identified levels and the newly marked descending trendline on the chart shall offer valuable guidance for today's trading activity.

Happy Friday!

5 kwi

Uwaga

#XAUUSD

STRUCTURAL UPDATE ahead of NFP

5 kwi

Zlecenie aktywne

#XAUUSD

Despite a better than expected NFP data, sellers struggle to maintain the momentum. We shall be on standby for a bullish opportunity

5 kwi

Zlecenie aktywne

#XAUUSD

With a two buy positions triggered, we are yielding a total profit of 540 pips. Its time to secure some profits.