XAUUSD | Price Action | New Week perspective | follow-up details
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Gold prices experienced a minor retreat on Friday, with traders displaying a preference for the dollar, anticipating insights on U.S. monetary policy from the ongoing Jackson Hole Symposium. Despite signs of economic softness, gold managed to hold above the pivotal $1,900 per ounce level. However, the path ahead for the precious metal remains uncertain due to the looming possibility of higher U.S. interest rates.
During Friday's session, gold price exhibited sideways movement as market participants digested remarks from Fed Chair Powell, who emphasized that the potential for interest rate hikes is still under consideration. The yellow metal encountered selling pressure as Powell's stance at the Jackson Hole Symposium remained hawkish. Powell underscored that despite recent more favorable inflation readings, inflation has been persistently high, necessitating a continued effort to bring it down.
From a technical perspective, it's important to recognize the potential of buyers, particularly given the support zone that aligns around the $1,900 level. While the broader market sentiment adjusts to these developments, let's delve into the detailed analysis to navigate the XAUUSD landscape effectively.
XAUUSD Technical Analysis:
In this video, we delve into XAUUSD's price action, decoding accumulation, and distribution patterns. By analyzing historical price moves, market behaviors, and buyer-seller dynamics, we extract insightful cues. The strategic approach? Waiting for compelling follow-through buying signals to confirm a potential near-term bottom for the USD-linked Gold before diving into bullish ventures.
The $1,900 and $1,920 zones take center stage. Its historical significance makes it a crucial point. If the reversal set-up sustains and the price breaks out both the descending trendline and the $1,920 level, a bullish week could unfold. However, the breakdown of the $1,900 level can trigger a USD-favored sell-off.
Stay tuned for more thrilling updates on the Gold market! Remember, trading involves risks, and I always recommend exercising caution and seeking advice from financial professionals. Hit the like button if you found this analysis helpful, and don't forget to subscribe for more insightful content! 📺🔔💼
Disclaimer Notice:
Please be aware that margin trading in the foreign exchange market, including commodity trading, CFDs, stocks, and other instruments, carries a high level of risk and may not be suitable for all investors. The content of this speculative material, including all data, is provided by me for educational purposes only and to assist in making independent investment decisions. All information presented here is for reference purposes only, and I do not assume any responsibility for its accuracy.
It is important that you carefully evaluate your investment experience, financial situation, investment objectives, and risk tolerance level. Before making any investment, it is advisable to consult with your independent financial advisor to assess the suitability of your circumstances.
Please note that I cannot guarantee the accuracy of the information provided, and I am not liable for any loss or damage that may directly or indirectly result from the content or the receipt of any instructions or notifications associated with it.
Remember that past performance is not necessarily indicative of future results. Keep this in mind while considering any investment opportunities.
During Friday's session, gold price exhibited sideways movement as market participants digested remarks from Fed Chair Powell, who emphasized that the potential for interest rate hikes is still under consideration. The yellow metal encountered selling pressure as Powell's stance at the Jackson Hole Symposium remained hawkish. Powell underscored that despite recent more favorable inflation readings, inflation has been persistently high, necessitating a continued effort to bring it down.
From a technical perspective, it's important to recognize the potential of buyers, particularly given the support zone that aligns around the $1,900 level. While the broader market sentiment adjusts to these developments, let's delve into the detailed analysis to navigate the XAUUSD landscape effectively.
XAUUSD Technical Analysis:
In this video, we delve into XAUUSD's price action, decoding accumulation, and distribution patterns. By analyzing historical price moves, market behaviors, and buyer-seller dynamics, we extract insightful cues. The strategic approach? Waiting for compelling follow-through buying signals to confirm a potential near-term bottom for the USD-linked Gold before diving into bullish ventures.
The $1,900 and $1,920 zones take center stage. Its historical significance makes it a crucial point. If the reversal set-up sustains and the price breaks out both the descending trendline and the $1,920 level, a bullish week could unfold. However, the breakdown of the $1,900 level can trigger a USD-favored sell-off.
Stay tuned for more thrilling updates on the Gold market! Remember, trading involves risks, and I always recommend exercising caution and seeking advice from financial professionals. Hit the like button if you found this analysis helpful, and don't forget to subscribe for more insightful content! 📺🔔💼
Disclaimer Notice:
Please be aware that margin trading in the foreign exchange market, including commodity trading, CFDs, stocks, and other instruments, carries a high level of risk and may not be suitable for all investors. The content of this speculative material, including all data, is provided by me for educational purposes only and to assist in making independent investment decisions. All information presented here is for reference purposes only, and I do not assume any responsibility for its accuracy.
It is important that you carefully evaluate your investment experience, financial situation, investment objectives, and risk tolerance level. Before making any investment, it is advisable to consult with your independent financial advisor to assess the suitability of your circumstances.
Please note that I cannot guarantee the accuracy of the information provided, and I am not liable for any loss or damage that may directly or indirectly result from the content or the receipt of any instructions or notifications associated with it.
Remember that past performance is not necessarily indicative of future results. Keep this in mind while considering any investment opportunities.
Nota
As the week unfolds, the initial hours have revealed a robust resistance around the $1,917.60 threshold, as buyers grapple to surmount this critical zone. Moreover, price movement maintains its position beneath the supply zone and the key level of the week, positioned at $1,920, underscoring the prevailing seller dominance. With today's US economic calendar devoid of significant events, a patient approach is paramount. We'll be vigilant for potential signals, such as a decisive breakout or breakdown of the existing range, to unveil potential trading opportunities. Delving further into this market structure, we'll dissect it comprehensively during our upcoming live session later this morning.Good Morning
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Following our discussion in the recent live session, an exciting turn of events has unfolded. After closing the sell position at a loss, we've now witnessed a strong buy position initiated upon the $1,916 breakout. Notably, the sellers' challenge in breaching the $1,914.50 zone indicates a "potential" shift in momentum (hinting at buying potential). For those who may have missed the initial breakout, keep an eye out for a potential retest of this structure for confirmation. Trade attivo
UPDATEAs projected; Two buy positions in profit now; secure position as we look out for more trading opportunities.
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UPDATEOver 170 pips in profit from three positions now; secure positions now. Levels for new buying opportunities will be updated shortly.
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UPDATENew level here
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The current market sentiment is increasingly aligning with a bullish momentum, supported by the emergence of buying pressure around the $1,925.00/$1,920 zone, which was previously a supply area. This development positions us to seek additional buying opportunities above this level. Nonetheless, it's prudent to remain cognizant of potential selling opportunities below this zone. As we eagerly anticipate key economic indicators from the US docket, such as the Housing Price Index, Consumer Confidence, and JOLTS Job Openings, we stand ready to gain valuable insights into market dynamics.Good Morning
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UPDATE (For Counter-Trend Traders):As covered in our earlier live session today, we're closely monitoring market reactions to levels indicated on the chart as we anticipate the end of the retracement phase and a potential uptrend continuation. Be sure to secure all existing sell positions. Stay tuned for the upcoming XAUUSD Live Monitoring Window on our YouTube channel for real-time insights!
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Over 250 pips in profit from three positions and price tiggeres order at the $1,920, $1,924, and $1,928 as projected. Secure all positions now as we lookout for more trading opportunities|Trade attivo
With over 380 pips in profit from three buy positions; I am done for today and this will be my last update for this instrument today. Secure all positions and best of luck.Good Night!
Trade chiuso manualmente
Following a profitable gain of more than 350 pips from the buy position, the trading landscape has entered a period of consolidation over the past 16 hours, underscoring a prevailing sense of uncertainty within the $1,938 to $1,935 range. We will excercise patience, awaiting a potential breakout or breakdown of this range to uncover promising trading opportunities. Our attention is also directed towards the upcoming ADP employment change and Gross Domestic Product figures from the US economic calendar. The impending release of these indicators has the potential to catalyze shifts in price dynamics, either aligning with the continuation of the uptrend or marking the onset of a retracement phase.Good MOrning
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UPDATEIn light of our expectations surrounding the Gross Domestic Product Annualized and ADP Employment Change data, a buy position has been initiated.
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The fourth position is currently running with 70 pips in profit; secure all buy positionsTrade attivo
UPDATE:The US economy expanded at an annual rate of 2.1% during the second quarter, which is below the earlier estimate of 2.4%. Meanwhile, the Personal Consumption Expenditure (PCE) Price Index underwent a 2.5% increase, reflecting a downward revision of 0.1 percentage point from the previous estimate. Additionally, private sector employment in the US experienced a rise of 177,000 in August, falling short of the market expectation of 195,000.
All the data emerging from the US economic docket presents a less promising outlook, subsequently impacting the potential for further rate hikes. As an immediate response, the market has shown a bullish trend for Gold. The question now stands: Will we observe a retracement within the existing structure or a breakout beyond the $1,945 level, facilitating the continuation of an uptrend? The answer lies within the cues provided by the market structure.
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UPDATETrade attivo
The ascending trendline continues to serve as our primary guide for assessing the possibility of a continued uptrend. It's worth considering selling opportunities only if this trendline is broken.Given that today marks the final trading session of the month, the significance of the current trading session is amplified. It's important not to underestimate the potential for profit-taking activities, as these actions hold the capacity to reshape the existing market dynamics. The current price hovers around the descending trendline, which has been identified on a higher timeframe (as seen in the video) forming a range between $1,949 and $1,943. The question arises: Will the price undergo a retest, prompting a sell-off, or will there be a breakout that triggers further buying opportunities? The answer lies in the structural cues, and we remain attentive for confirming signals.
Good Morning
Nota
UPDATETrade attivo
Following an exit from the buy position resulting in a loss, we have initiated a sell position upon the breakdown and subsequent retest of the $1,944 level. It is recommended to secure the sell position.Trade chiuso manualmente
All sell positions have been exited as buying momentum surges above the $1,939 zone. There is a anticipation among market participants for today's release of the NFP data, which is poised to offer deeper insights as traders recalibrate their expectations concerning the potential for a final interest-rate hike by the US Federal Reserve (Fed) this year. This reassessment comes in response to the recent decline in US job openings, a trend not seen since early 2021. Join our forthcoming live session where we'll delve into this market structure a detail insight.Happy new month!
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UPDATEJust as discussed during our live session this morning
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The US NFP data came in beyond expectation but levels with the previous month at 187K; market reaction is bearish for the Greenback as we have all our buy levels triggered ($1,943,$1,944, $1,946 and $1,949); secure all positions at this juncture as market participants digest this data. Update coming up soonTrade chiuso manualmente
All buy positions have been closed as the price action reverts to the entry zone. We have now returned to the initial state, and the chart's key levels remain relevant for potential trading opportunities, as the price continues to stay above the previously identified demand zone. Nevertheless, should the price experience a breakdown or retest of the demand zone within the $1,938/$1,939 zone, it may provide an opportunity for selling. Update coming up soon
Trade smart. Trade consciously
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