XAUUSD | GOLDSPOT | New perspective | follow-up details

已更新

Gold's recent performance faced an unexpected twist, challenging the notion that a Fed rate pause could be its ticket to a breakout. Instead, the precious metal found itself in the shadow of its formidable rival, the US dollar.

The preceding week had seen gold bask in the glory of the US non-farm payrolls report for August. Despite an employment gain of 187,000 jobs, surpassing the forecasted 170,000, the unemployment rate inched up from July's 3.5% to 3.8%. This unexpected rise fueled speculation that the upcoming Fed meeting on Sept. 20 might result in unchanged interest rates, briefly propelling gold higher.

However, as the week unfolded, a new narrative emerged. Speculation resurfaced, suggesting that the Fed might consider not just a pause but potentially more rate hikes before year-end to achieve its 2% annual inflation target. Inflation, as measured by the Consumer Price Index (CPI), rekindled in July, surging to 3.2%. These mounting concerns prompted the Dollar Index to soar to six-month highs.

Now, the burning question is: What lies ahead for the Gold market in the coming week? Join us as we unravel the intricacies and potential scenarios in this ever-evolving landscape.

XAUUSD Technical Analysis:
In this video, we delve into XAUUSD from a price action-based technical analysis standpoint. By analyzing historical price moves, market behaviors, and buyer-seller dynamics, we extract insightful cues.

The $1,915 zone will take center stage for this week. Its historical significance makes it a crucial point. If the bullish momentum is sustained then the breakout of the uptrend continuation pattern - falling wedge identified on the daily timeframe could incite a strong uptrend continuation. However, if the price breaks below both the ascending trendline and the $1,915 zone then some selling opportunities could take center stage to trigger a USD-favored sell-off.

Stay tuned for more thrilling updates on the Gold market! Remember, trading involves risks, and I always recommend exercising caution and seeking advice from financial professionals. Hit the like button if you found this analysis helpful, and don't forget to subscribe for more insightful content! 📺🔔💼

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.

交易進行

Price continues to hold above our key level - $1,915 support level, marking a robust start to the new trading week. The bulls have staged an impressive breakout above the $1,924 resistance, bringing us closer to the $1,930 zone.

Our approach is to exercise patience and closely monitor how the price reacts upon reaching the $1,930 level. A successful breakout and retest of this zone could offer promising buying opportunities. Nonetheless, it's essential to remain vigilant as there's a likelihood of price revisiting the $1,924 level before embarking on its upward trajectory.

Good Morning

交易結束：達到停損點

Stop-loss hit as buyers and sellers engage in a 24-hour battle, resulting in a lower low. Nevertheless, the $1,915 zone's resilience keeps the door open for potential buying opportunities. Chart indicators signal key levels to monitor today for trading opportunities, calling for patience in our trading approach. We shall discuss this in detail during our upcoming live session.

Good Morning

交易進行

Just as discussed during our live session this morning; secure the position

交易進行

UPDATE

交易進行

Ensure your sell positions are secure. Although the weekly trend still maintains its bearish outlook, there has been a recent development in the last 18 hours. Price action seem to have encountered support around the $1,909 zone, causing bears to face difficulty in pushing prices lower. As all eyes are now on the upcoming US CPI data release, with economists forecasting an increase to 3.6%, we will closely monitor how market participants position themselves ahead of this event. Keep in mind that the descending trendline remains a crucial reference point for today's trading decisions.

Good Morning

交易進行

As the second hour of the NY session unfolds, price action is showing signs of transitioning into a potential reversal pattern, which could trigger an uptrend. The surprising US CPI data, coming in at 3.7%, surpassing all expectations, sets a tone that validates the potential for an interest rate hike. However, as we await the PPI data scheduled for tomorrow—a crucial economic indicator—we may not yet witness a strong uptrend favoring the US dollar. I suspect a potential decline in the US Dollar's price, creating a more favorable "buy" opportunity in the future.

For now, it's advisable to secure all sell positions as we anticipate a breakout/retest of the neckline at $1,913.50, which could present buying opportunities. We should also keep the option of a breakdown/retest of the $1,909 level open.

交易進行

Gold prices continue to grapple with selling pressure as anticipation builds for upcoming US Producer Price Index and Retail Sales data releases. While the trading set-up from yesterday is still intact, the sell position remains active, and we're poised to seize additional trading opportunities as market conditions evolve.

Good Morning

交易進行

Another sell position triggered at the $1,909.50 as positive data flows in from the US economic docket; secure position. More opportunities will be published soon

交易進行

After being taken out of the sell position, a bullish momentum was incited, breaking out and retesting both the descending trendline and the $1,909 zone to trigger buy entries. With a gain of over 100 pips across four positions, it's time to secure these positions and stay vigilant for forthcoming opportunities, especially in anticipation of the US Consumer Sentiment Index.

Good Morning