TradeWithApex

TradeWithApex

Weekly Analysis 21 Apr, 2024 Gold has shown a strong uptrend on 1H timeframe, attributed to war related news. Trading above the trendline is deemed bullish, and a breakout below this line presents a selling opportunity upon retesting. gold is currently doing sideways correction. main support level stands at 2330. Gold maintaining its current level, it may start...

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Weekly Analysis 6 Apr, 2024 Last week, despite the strong Non-Farm Payroll (NFP) numbers, the market experienced an unexpected surge that caught everyone off guard. This was primarily due to two simultaneous events: an earthquake striking New York City (NYC) and the release of the NFP report. The recent earthquakes, first in Taiwan and now in NYC, raised concerns...

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Weekly Analysis 24 Mar, 2024 Last week, gold experienced a significant surge following the FOMC meeting, only to face a sharp $65 drop the very next day. Despite this downturn, the price remains above the crucial 2150 level. Should this level break, it would be wise to await a retest before considering a target of 2100. Notably, on the daily chart, Gold has...

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Weekly Analysis 17 Mar, 2024 Gold underwent a sideways correction last week, and now we have the FOMC meeting approaching. Hedge funds may either book profits this week or buy more gold, depending on the outcome of the FOMC meeting. According to Fibonacci values, the first resistance is at 2190, with the 60% level at 2230. I am expecting a hawkish stance from the...

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Weekly Analysis 3 Mar, 2024 Important Update The current support level stands at 2088, with no support seen on a daily basis prior to this. The recent surge from 2080 has cleared out all sellers, but new sellers are expected to enter the market soon. Buyers are expected to take profits in the range of 2200-2175. Once the market begins to drop, buyers are not...

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Weekly Analysis 3 Mar, 2024 Last week, gold had a big $60 upward move and is currently positioned at a resistance level. Looking ahead, the most important news is the release of Non-Farm Payroll (NFP) numbers this week. From a technical standpoint, our initial support level stands at 2060. if this support breaks, we may consider selling on a subsequent retest of...

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1D is still bearish as we discussed in the morning. shorter time frame got bullish and the major resistance is 60.

TradeWithApex

Weekly Analysis 25 Feb, 2024 The fundamentals of gold are currently experiencing a mix of factors, Last Friday, the surge in gold prices was attributed to escalating tensions in the Red Sea region and US sanctions imposed on Chinese and Indian companies. Moreover, members of the Federal Open Market Committee (FOMC) are adopting a hawkish stance towards gold. In...

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FOMO buyers are disregarding fundamental factors and purchasing gold based solely on psychological impulses. This may signal a counter trend correction, with gold remaining bearish below the 2035 level. Notably, a 50% correction is around 2026, followed by a 60% correction near 2035. Gold is expected to maintain its bearish trend unless it surpasses the 2050 mark....

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The desired seller zone lies between 66-75 gold, having tested that level thrice in the past without a breakthrough. Today, NFP data is expected to be bullish for gold. In this scenario, consider entering buy positions before NFP if the price falls below 54, with a tight stop loss around 48-47 and a target of 2065-2075. I would enter a few minutes before the news,...

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Gold on 4h chart still ranging, yesterday it was a pump and dump in the market before FOMC, experts believe that interest rates might decrease eventually, although the timing remains uncertain. The key focus is on whether the Fed is seriously considering lowering rates and how they plan to handle their balance sheet. Currently, the economy appears strong, so the...

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This week could be rough for a lot of people if they don't implement proper risk management. The market conditions are challenging, with ongoing conflicts, rising inflation, and the end of the QE policy. It's unlikely that a rate cut will happen this month, and the upcoming NFP data on Friday adds to the uncertainty. Let's delve into technical analysis. Mainly,...

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I expect a potential rejection for gold around the 2070-78 zone, with a target of 2035, as current fundamentals do not favor an upward movement in gold price. The ongoing geopolitical tensions, especially in war situations, are supporting the current gold prices. However, in the event of an escalation, gold could swiftly move towards the 2100 mark.

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Gold's daily trend isn't looking bullish unless it goes above 2085. The ongoing war is keeping gold prices up, and if things escalate, gold could go above 2100 again. However, the recent rise in inflation, Could provoke the Federal Reserve (FED) could cut interest rates before the election and then raise them again afterward. Last week, gold stayed in a range...

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Gold 1h time frame, Expecting bearish CPI for gold today. watch the levels to sell

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There is currently not expected to be a rate cut in January. The recently released FOMC minutes indicate that the first-rate cut might occur towards the end of 2024. The Treasury Secretary has declared that the US economy has successfully achieved a soft landing. As I previously mentioned, the likelihood of a soft landing is increasing, Now gold is trading in a...

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Gold went down by $150 on the daily chart (1D) because of soft landing and a hawkish stance from the Federal Reserve. Currently, the downside support levels are at 1950 and 1930.

TradeWithApex Updated 

NFP range today, expecting choppy market, not expecting a big move.