SupperTrading-FX

SupperTrading-FX Updated  Jun 29, 2023

TVC:GOLD Gold's drop on Wednesday was driven by narrow open interest, which lends to the idea that a recovery could be imminent in the very near term. In this regard, occasional bullish attempts are expected to meet initial resistance around the 1940$ per troy ounce area, an area that coincides with the 100-day SMA. On the downside, a strong resistance is seen...

SupperTrading-FX Updated  Jun 28, 2023

OANDA:XAUUSD Spot gold edged higher at the weekly open, filling a gap later in the European session. However, investors take a more cautious stance as major central banks continue to combat inflation with rate hikes at a time when most are believed to have paused and are preparing to move in the opposite direction. again. Gold prices struggled to gain any...

SupperTrading-FX Updated  Jun 28, 2023

TVC:GOLD Gold prices struggled to gain any meaningful traction on Tuesday and hovered in a narrow trading range, just above the 1922$. Meanwhile, GOLD remains within impressive distance of the lows in more than three months hit last Friday and looks vulnerable to staying below the 100-day SMA. In the short term and on the 4-hour chart, GOLD is also neutral, with...

SupperTrading-FX Updated  Jun 28, 2023

TVC:GOLD Gold's rally is heading for another challenger with the 1,928$ hurdle ahead of key central bank officials' speeches at the ECB forum. Upbeat US data, geopolitical worries from Russia limit the US Dollar and the GOLD bulls. The daily chart for GOLD shows that the downside is leading, with the pair posting lower highs and lower lows while holding below...

SupperTrading-FX Updated  Jun 28, 2023

OANDA:XAUUSD Gold prices stalled Monday's rally, as a strong rally in US Treasury yields offset the US dollar, even as the market remained risk-averse. However, concerns about political instability in Russia boosted safe-haven flows into US government bonds, sending US Treasury yields plummeting. As a result, Gold price could challenge the key support of the...

SupperTrading-FX Updated  Jun 27, 2023

TVC:GOLD Gold price is auctioning in a Symmetrical Triangle chart pattern on an hourly scale, which indicates a decline in volatility but is followed by an explosion in the same. Horizontal support is plotted from the previous week’s low at 1,910$. A straight 50-period Exponential Moving Average (EMA) at 1,928$ portrays a non-directional performance. The...

SupperTrading-FX Updated  Jun 27, 2023

OANDA:XAUUSD Gold prices are rising after the last trading session of last week, when the US Dollar fell. Concerns about prolonged global monetary policy tightening causing recession risks have added to the safe-haven flow in Gold prices. Looking ahead, risk sentiment, US Dollar price action and Fed rate hike expectations will continue to drive Gold prices...

SupperTrading-FX Updated  Jun 27, 2023

OANDA:XAUUSD Gold's short-term pullback has ended and it is expected to fall back to the intraday low at $1910.00. The Gold sell-off was triggered by the upbeat US Dollar Index DXY. Gold prices started the week on a solid footing and extended the slide. Growing concerns about a global recession, combined with the hawkish outlook of major central banks, could...

SupperTrading-FX Updated  Jun 26, 2023

TVC:GOLD Gold prices started the week on a positive note and looks set to bounce slightly on Friday from the 1,915$ region, or the lowest since March 16. GOLD trades around the 1,930$ region. , up nearly 0.35% on the day, despite lack of follow-up and still below the 100-day SMA. Gold price demonstrated a severe decline after breaking out of the Descending...

SupperTrading-FX Updated  Jun 26, 2023

TVC:GOLD Gold prices bounced off multi-month lows just above the March 16 low of 1,910$ on Friday, but the upside momentum lost its leg below the key horizontal 100-day Moving Average (DMA) at the level. 1,940$. The above two levels are likely to limit Gold prices ahead of Fed Chair Jerome Powell's speech and core US PCE inflation data later this week. Adding...

SupperTrading-FX Updated  Jun 23, 2023

TVC:GOLD Gold price is seen consolidating its recent downfall to over a three-month low. A hawkish outlook by major central banks acts as a headwind for the commodity. The US Dollar preserves the overnight recovery gains and contributes to cap. The 4-hour chart reflects sellers' strength. Technical indicators present firmly bearish slopes near oversold readings,...

SupperTrading-FX Updated  Jun 23, 2023

TVC:GOLD Gold price drops to new 14-week low as bears approach key 1903$ support confluence. Gold is still on track to post its biggest weekly drop since late January as the US Dollar cheers the market's risk-off sentiment, as well as Federal Reserve concerns. hawkish state (Fed). A downside break of the 1,903$ support confluence will need confirmation from the...

SupperTrading-FX Updated  Jun 23, 2023

OANDA:XAUUSD Thursday saw a fresh sell-off in Gold prices as the US Dollar made an impressive comeback against aggressive comments from the Fed and risk aversion. The Fed will end its rate-raising cycle at some point this year and begin cutting it next year. This forms a structural support for Gold in the medium to long term. Now, attention turns to PMI reports...

SupperTrading-FX Updated  Jun 23, 2023

OANDA:XAUUSD The bellicose statements of Fed Chairman Jerome Powell have led to increased demand for the US dollar. Along with that, US macroeconomic data turned out to be worse than anticipated, raising concerns and adding pressure to market sentiment. Initial jobless claims for the week ending June 16 rose 264K from the 260K financial markets...

SupperTrading-FX Updated  Jun 22, 2023

TVC:GOLD Gold licks its wounds at three-month lows, staying out around 1930$ after bouncing off the 1918$ support. GOLD justifies market inaction amid mixed statements from the US Federal Reserve and unimpressive updates around US-China relations and the package China's stimulus The 4-hour chart shows that, while selling pressure eases, the risk remains tilted...

SupperTrading-FX Updated  Jun 22, 2023

TVC:GOLD Gold price is consistently defending the horizontal support of a Descending Triangle chart pattern formed on a two-hour scale, set from the May 30 low at 1,930$. The downward sloping trendline of the aforementioned chart pattern is drawn from the June 2 high of 1970$. The 200-period exponential moving average (EMA) at 1,950$ is acting as a barrier for...

SupperTrading-FX Updated  Jun 22, 2023

OANDA:XAUUSD Today Unemployment Claims will be closely watched by investors due to its stronger-than-usual impact on the near-term USD valuation. Looking at the H4 chart, we can see that XAUUSD is trending down but has yet to break through the $1,930 area support. And if it stays above that level, we will see Gold price forming a swinging sideway in a large...

SupperTrading-FX Updated  Jun 22, 2023

OANDA:XAUUSD Yesterday, Powell's words eased fears and helped the stock market recover, pushing the USD lower against its main rivals. Although demand for the US currency has eased, XAUUSD is far from recovering its bullish status. Inflation is easing and consumer strength is starting to wane, which will worsen even further this year. Support level: 1,924.60...