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XAUUSD : Gold decreased slightly then increased againXAU/USD decreased slightly and is trading around 2,312 USD/ounce. Traders are being quite cautious ahead of tonight's Fed policy meeting, because if the inflation report shows no improvement, the Fed may continue to hawkish. This means that both the USD and US yields will rise to the detriment of non-yielding assets like gold. "The next important level is 2,300 USD/ounce. If gold drops below this price, it is likely to fall back to 2,200 USD/ounce in the near future" - Ong Everett Millman, Director of Market Analysis of Gainesville Coins (san trading of precious metals in the US) forecast.
OANDA:XAUUSD
by SantaTradeGold
Gold prices dropped sharply with tonight's newsInvestors will focus on updated economic projections from the central bank, which are expected to show fewer rate cuts than policymakers previously anticipated. Markets now see only one rate reduction from the Fed this year in light of stronger-Gold prices eased toward $2,310 an ounce on Wednesday, hovering close to one-month lows as caution prevailed ahead of key US inflation data and the latest Federal Reserve interest rate decision. Investors will focus on updated economic projections from the central bank, which are expected to show fewer rate cuts than policymakers previously anticipated. Markets now see only one rate reduction from the Fed this year in light of stronger-than-expected payrolls data last Friday. Additionally, China’s central bank, the biggest official sector buyer of gold, paused its purchases in May after 18 consecutive months of buying spree. Elsewhere, gold miner Polymetal International announced this week that it plans to double output by 2029 through acquisitions in Central Asia. 🔴SELL GOLD: 2325- 2323, SL: 2329 (Resistance H4 + VCM EMA 89 zone H1) 🔴SELL GOLD: 2338 - 2340, SL: 2344 🟢BUY GOLD: 2270 - 2268, SL: 2264 ⛔️Breakout: 📈 Breakout on: 2325 📉 Breakout below: 2304 - 2300 - 2391 🔼Support: 2286 - 2274 - 2268 🔽Resistance: 2325 - 2338 Investors will focus on updated economic projections from the central bank, which are expected to show fewer rate cuts than policymakers previously anticipated. Markets now see only one rate reduction from the Fed this year in light of stronger-Gold prices eased toward $2,310 an ounce on Wednesday, hovering close to one-month lows as caution prevailed ahead of key US inflation data and the latest Federal Reserve interest rate decision. Investors will focus on updated economic projections from the central bank, which are expected to show fewer rate cuts than policymakers previously anticipated. Markets now see only one rate reduction from the Fed this year in light of stronger-than-expected payrolls data last Friday. Additionally, China’s central bank, the biggest official sector buyer of gold, paused its purchases in May after 18 consecutive months of buying spree. Elsewhere, gold miner Polymetal International announced this week that it plans to double output by 2029 through acquisitions in Central Asia. 🔝🔝 Deekop's research and comments XAUUSD PLAN DAY TODAY June 12 🔴SELL GOLD: 2325- 2323, SL: 2329 (Resistance H4 + VCM EMA 89 zone H1) 🔴SELL GOLD: 2338 - 2340, SL: 2344 🟢BUY GOLD: 2270 - 2268, SL: 2264 ⛔️Breakout: 📈 Breakout on: 2325 📉 Breakout below: 2304 - 2300 - 2391 🔼Support: 2286 - 2274 - 2268 🔽Resistance: 2325 - 2338 GOOD LUCK EVERYONE👍
OANDA:XAUUSD
by Scalper_Ananda
Dollar’s Rise Toward 2024 High Bolstered by CPIThe greenback is growing towards a brand new excessive for the yr on hypothesis that Wednesday`s US inflation analyzing and Federal Reserve coverage selection will boom demand. The Bloomberg Dollar Spot Index rose Tuesday for a fourth instantly session, hiking a complete of 1.1% in that period, amid assist from final week`s record of US jobs increase and political turbulence in Europe. The gauge now trades approximately 0.4% beneath this yr`s top reached on April 19. “Tomorrow affords a actual possibility for the greenback to increase its current gains, Powell permitting,” Patrick Locke, an FX strategist at JPMorgan Securities LLC in New York, stated in an interview. “There are motives to anticipate each CPI and FOMC will err at the bullish/hawkish facet for the greenback, supporting it sweep the tactical trifecta,” he stated, relating to the approaching customer fee index and Federal Open Market Committee reviews and Friday`s above-estimate non-farm payrolls.
OANDA:XAUUSD
by MrTrongVo
The Japanese yen continues to weakenThe Japanese Yen remains weak as the BoJ is expected to maintain current policy in June The Japanese Yen fell slightly as the BoJ is expected to maintain current interest rates on Friday. Japan's stable stock market has weakened the JPY. The US dollar held firm as the likelihood of two Fed rate cuts in 2024 decreased. USD/JPY traded around 157.20 on Tuesday. Daily chart analysis shows an uptrend as the pair consolidates in an ascending channel pattern. Additionally, the 14-day Relative Strength Index (RSI) is above the 50 level, indicating a bullish trend. Significant hurdles can be seen at the psychological level of 158.00. A break above this level could provide support, potentially guiding the USD/JPY pair towards the vicinity of the upper boundary near the 158.60 level. The next level of resistance is seen at 160.32, which marks the highest level in over thirty years. On the other hand, the lower boundary of the ascending channel, roughly at 154.90, stands out as key support, coinciding with the 34-day Exponential Moving Average at 154.86. A breach below this level could intensify bearish pressure on the USD/JPY pair, potentially steering it towards the pullback support area around 152.80.
by TVS-Trader
1
Regain the mark of 2,300 USD/ounceGold prices regained the 2,300 USD/ounce mark because investors had a bottom-fishing mentality after prices plummeted last weekend. Experts say that gold prices are going against the general rules of the market when many forecasters receive bad news. The US consumer price index for May, which is about to be published, is likely to increase, making the US Federal Reserve's (Fed) delay in cutting interest rates even longer. Gold investors are turning their attention to the Fed's Federal Open Market Committee (FOMC) meeting scheduled for June 11-12 (US time), which will open up a more positive direction. for gold price. Here, the FOMC will provide insight into the plans and timeline for expected interest rate cuts this year and through 2026. Gold is having difficulty trying to regain the 2320 level. Yesterday in the US session, gold achieved a recovery level of 2313 according to investors' expectations after a weekend of catastrophic price decline. Unable to reach the expectation of 2320, gold is stuck around the 2300 price range. The upward recovery will likely continue until gold returns to the market's downward trajectory. SELL zone 2330-2332 SL 2335 SELL zone 2281-2279 SL 2276 Pay attention to support and resistance points to have the best trading strategy Support: 2286 - 2280 - 2270 Resistance: 2315 - 2329 - 2338
OANDA:XAUUSD
by TVS-Trader
1
GOLD 06/10 The downtrend is still continuing💥Gold prices (XAU/USD) entered a bearish consolidation phase and hovered near their lowest level in more than a month, below the $2,300 mark. 💥The widely known Nonfarm Payrolls (NFP) report showed that the world's largest economy created more jobs than expected in May, forcing investors to cut bets on the round. interest rate cut in September by the Federal Reserve (Fed). This kept US Treasury yields elevated and lifted the US Dollar (USD) to a near one-month high, which in turn, was seen as a headwind for the yellow metal failing to deliver. profit. 💥Gold will continue its downtrend. On the h4 chart, we can see that important support levels were broken and strong resistance areas were formed. The recovery level of gold today cannot exceed 2320 and the decline margin of gold is wider with the support level of 2370 being the break out area of ​​the previous 2 months and the next around 2355 EMA 89 moving average of the daily frame. Support: 2286 - 2280 - 2274 - 2268 - 2259 Resistance: 2308 - 2320 - 2329 - 2338 SELL price range 2320 - 2322 stoploss 2327 BUY price range 2270 - 2268 stoploss 2264
OANDA:XAUUSD
by TVS-Trader
XAUUSD : Gold is focusing on Fed interest ratesThe world gold price recorded at 09:30 on June 11 according to Vietnam spot time was around 2,302 USD/ounce, down 8.50 USD compared to yesterday. Investors are trading cautiously as they wait for US inflation data and the US Federal Reserve's (FED) interest rate decision in the middle of this week. Derivatives trading involves high risks and may not be suitable for all investors. Therefore, consider carefully whether this transaction is suitable for your financial situation or not. Trading advice is based on information obtained from trading services and statistics and other sources Blue Line Futures, LLC is bullish. We do not guarantee that the information is accurate or complete, as it should not be relied upon entirely. Trading advice reflects our good faith judgment at a certain time and is subject to change without notice. There is no guarantee that our advice will lead to profitable trades. All trading decisions will be made by the account owner. Past results do not necessarily reflect future results.
OANDA:XAUUSD
by SantaTradeGold