Oro / DollaroLong
XAUUSD: CB Consumer Confidence
Aggiornato
Gold hovers near 1,910 with a negative bias, focus on US macros
The price of gold is currently declining, trading at a lower level of approximately 1,910 per troy ounce during the Asian session on Tuesday. The US Dollar (USD) is gaining strength, partially due to a cautious market sentiment and increased US Treasury yields.
The XAU/USD is expected to experience a bearish outlook. On the 4-hour chart, technical indicators indicate a preference for a downward movement, as the price is significantly below important moving averages. Currently, the price is being tested at the support area of 1,915, and if it breaks below, it will reveal a downtrend line positioned at 1,908. This particular level serves as the final defense before reaching 1,900.
The potential for an upward movement remains limited as long as the price stays below $1,930. However, if Gold surpasses this level, it could potentially empower the bulls and allow them to take control, albeit temporarily. Before reaching 1,930, there is a strong short-term resistance observed around 1,920.
Support levels: 1,908 1,901 1,885
Resistance levels: 1,921 1,930 1,945
The price of gold is currently declining, trading at a lower level of approximately 1,910 per troy ounce during the Asian session on Tuesday. The US Dollar (USD) is gaining strength, partially due to a cautious market sentiment and increased US Treasury yields.
The XAU/USD is expected to experience a bearish outlook. On the 4-hour chart, technical indicators indicate a preference for a downward movement, as the price is significantly below important moving averages. Currently, the price is being tested at the support area of 1,915, and if it breaks below, it will reveal a downtrend line positioned at 1,908. This particular level serves as the final defense before reaching 1,900.
The potential for an upward movement remains limited as long as the price stays below $1,930. However, if Gold surpasses this level, it could potentially empower the bulls and allow them to take control, albeit temporarily. Before reaching 1,930, there is a strong short-term resistance observed around 1,920.
Support levels: 1,908 1,901 1,885
Resistance levels: 1,921 1,930 1,945
Trade attivo
Fed rate futures show rate cuts starting in July 2024.
-There is still a 40% chance that interest rates will rise again by the end of the year.
-The next few months will be a gift for traders who love volatility.
Trade attivo
-Surging US home prices this year have pushed profits up for house flippers in the second quarter, per BI.-Gross profit on a typical house flip increased to $66,500 in the second quarter, up 18% from $56,250 in the first quarter, per ATTOM.
Nota
America's debt crisis is renewed and portends serious problems.. Only one week and money will run outDisagreements still dominate the US Congress, as the Republican parties have not shown any progress in reaching an agreement on the temporary funding bill. With only one week left before the federal government runs out of money, which could lead to a government shutdown.
Congress has not yet succeeded in passing any of the 12 regular spending bills to fund federal agency programs in the new fiscal year that begins on October 1.
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