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GOLD: Gold price prediction today!Based on fundamental analysis, gold price has a very high probability of going up with NFP. But according to technical analysis, gold price is still in a falling wedge, which creates an extremely unpredictable NFP, let's wait and see what surprises gold futures will give us! Looking at multiple time frames, support and resistance zones work best in the 1900-1952 range. Let's wait and see if these 2 support-resistance zones are strong enough to stop the NFP wave this time! This is important news and a lot of risk, if you want to enter the trade pay attention to the 1952 zone!
TVC:GOLDLong
by Sphyn-Trader
3
GOLD (XAUUSD) Ahead of NFP. Your Plan: 🥇 Traders, do not forget that we are expecting the NFP release today. Depending on the figures, I see 2 potential scenarios on Gold. Bullish Scenario 1941 - 1945 is a key horizontal resistance. If the market breaks and closes above that, I will expect a bullish continuation to a major falling trend line. Bearish Scenario 1925 - 1935 is a key horizontal support that the price is approaching now. Its bearish breakout and a daily candle close below will push the prices lower. Next goal will be 1908. Wait for a breakout and the follow the market. ❤️Please, support my work with like, thank you!❤️
OANDA:XAUUSDShort
by VasilyTrader
3
GOLD gained 16.60% After the Last U.S. Credit DowngradeIf you haven`t purchased GOLD in the buy area: Then you need to know that Fitch Ratings downgraded the US debt rating from the highest AAA rating to AA+, citing concerns about "a steady deterioration in standards of governance." This downgrade occurred following last-minute negotiations among lawmakers to reach a debt ceiling deal earlier this year, which posed a risk of the nation's first default. In the aftermath of a similar credit downgrade in the past, the price of Gold surged by 16.60% within one month. Standard & Poor's, one of the three major credit rating firms, downgraded U.S. debt on Aug. 5, 2011, following another significant debt ceiling battle. Currently, the U.S. 10-year Treasury yield has risen to 4.15%, reaching its highest level since November 2022. It's worth noting that even though the mentioned price target may not be sustainable in today's market conditions, it was still worth mentioning for reference. Looking forward to read your opinion about it!
TVC:GOLDLong
by TopgOptions
2
GOLD: What happens today?Daily Digest Market Movers: Gold price declines further as economic data misses estimates Gold price drops sharply after facing selling pressure around $1,970.00 as demand for gold remains weak due to higher gold prices and interest rates. Fears of more interest rate hikes from the Federal Reserve (Fed) deepen as Chicago Fed Bank President Austan Goolsbee favors further policy tightening despite easing inflationary pressures. Meanwhile, 10-year US Treasury yields remain subdued at around 4% as inflation remains in check after soft United States core Personal Consumption Expenditure (PCE) data was released on Friday.
TVC:GOLDLong
by Sphyn-Trader
4
Gold's Reaction to Upcoming Non-Farm Payrolls Gold's Reaction to Upcoming Non-Farm Payrolls Gold trading faced headwinds on Wednesday as the U.S. dollar strengthened despite Fitch's downgrade of the U.S. credit rating to AA+ from AAA. Investors seemed unfazed and focused on positive data from the ADP National Employment report that might possibly indicate a larger-than-expected Non-Farm Payrolls report this Friday. The ADP National Employment report revealed private businesses in the US hired 324K workers in July 2023, surpassing market expectations of a189K. Fitch's decision to downgrade the U.S. credit rating was attributed to concerns about potential fiscal deterioration over the next three years and the debt ceiling crisis that was averted at the last minute a couple months ago. The impact of these developments on gold prices was evident, as it retreated for the second consecutive session, currently testing at $1,935 and might be approaching a significant technical support level at $1,930. On the flip side, if gold resumes its rebound, it may encounter initial resistance around $1,942, followed by the psychologically important $1,950 mark.
BLACKBULL:XAUUSD
by BlackBull_Markets
Gold or Nasdaq: What to Short this Week?For Gold (XAU/USD), the 4-hour chart suggests a neutral-to-bearish stance. While the pair is currently above its moving averages, the 50-day moving average is closely trailing its price. The Relative Strength Index (RSI) is dropping towards a neutral level, indicating a potential pause in buyer activity. If Gold drops below $1,945, there is a risk of prices descending further and retesting their previous lows or the 200-Day Simple Moving Average (SMA) around $1,941. The deciding factor for Gold this week will likely be the US jobs data. The Non-Farm Payroll (NFP) report on Friday is a significant event, and the precursor jobs data (JOLTS Job report on Tuesday) could also sway traders. The market expects the NFP to show 190K jobs added, more than double the natural US growth rate. A strong jobs figure could influence traders' anticipation of the Federal Reserve's interest rate decision and impact the downside outlook for Gold. On the other hand, Nasdaq and other major US indices are expected to end July with gains. The Dow Jones has particularly shown impressive growth over the past two weeks. The outperformance of the Dow Jones suggests a possible shift by investors from growth stocks (such as Nasdaq stocks) to value stocks. Looking at the daily chart, the Nasdaq Composite is now targeting a key resistance level at 14,649. However, there is a possibility of aggressive seller response at that level. On the 4-hour chart, a divergence with the MACD indicates weakening momentum, which is often followed by pullbacks. Earnings reports from major tech companies, Apple and Amazon, will be crucial for Nasdaq this week. These two giants represent 11.6% of the entire Nasdaq index measured by market cap. Better-than-expected US earnings could potentially prolong the bull run in the market.
BLACKBULL:XAUUSD
by BlackBull_Markets
XAUUSD Outlook 28/7/23 WOAH! 🥲🔪Good evening Gold Gang!! WOWZERS .. 300 pip drop with positive dollar news. Madness. The forecast sells were there but i unfortunately missed them as i had to deal with something at home grrr. Congrats to the gold gang who grabbed them. Great eyes! Ok so we have broken the daily level on the HTF .. what can this mean .. will a push up to retest would be the normal move for it to then sell back down. We have some more juicy red folders tomorrow too so this could get interesting .. plus .. end of the month (almost) Lets finish off with a bang! Buys and sells are on the charts .. i have a reversal level there too marked individually .. that would mark the retest of the daily level .. wait for the reversal pattern to appear on the LTF Thanks for hanging out with me today guys please drop a like if you find these ramblings helpful at all catch you in London session tommyXAU
OANDA:XAUUSD
by tommyXAU
6
How gold should trade after the Fed's interest rate decision Today's Fed interest rate decision is fully in line with market expectations, raising interest rates by 0.25%, which is expected to raise interest rates, so the market has digested the volatility brought by the rate hike, and then the Fed's speech is also very dovish, gold fell rapidly after a short rise, there was no great fluctuation, gold was blocked around 1978, and the upward trend was not continued, the dollar index also began to rise after a short decline, which further suppressed the rise of gold, in the next gold trading, Give advice to friends to go short at a high level Gold Trading Strategies: XAUUSD:SELL@1975-1980 TP1965-1960 Join me for more free accurate trading signals
FX:XAUUSDShort
by UnknownUnicorn58713786
GOLD:Earnings summary After so many days of rising gold, I think there is momentum to fall. So, today's strategy for gold is dominated by shorting. But you have to learn to read the movement of gold, know what is support and what is resistance. The market often deceives you and understands the meaning of the market, so that you can make money, not be taken away by the market. Professional matters should be left to professional people, the choice is more important than your own efforts, if you want to earn money, want to learn, contact me.
TVC:GOLDShort
by UnknownUnicorn58713699