Gold News Fed chief Jay Powell said inflation is moving sustainably towards the 2% target. Gold prices (XAUUSD) advanced after Powell’s speech. Gold rose to a two-month high of $2,440 per ounce, coming off a three-week winning streak. Gold is nearing its all-time high of $2,450 per ounce hit in May. Powell’s speech raised hopes…
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Gold Analysis: By analyzing the 6-hour chart of gold, we observe that, as expected, the price rose to $2439, entering its old supply zone (Bearish OB). It then experienced a strong reaction, dropping from $2439 to $2425, and is currently trading around $2427. We need to see whether the price decline will continue from this level…
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Gold Analysis: By analyzing the 6-hour chart of #gold, we observe that, as expected, gold experienced a decline and corrected to $2391 with a yield of 280 pips. Subsequently, the price saw a resurgence in demand and has risen to $2416 so far. The important supply levels are $2418.5 to $2424.6 and $2429 to $2433. The…
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EUR/USD Analysis: By analyzing the EUR/USD chart on the 4-hour timeframe, we observe that the price is trading around the 1.09090 level. As you know, the price is within a supply zone. However, given the context, we are likely to see this resistance break. If the support holds within the 1.088 to 1.08880 range, we can…
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Bitcoin Analysis: Bitcoin surged over 12% to nearly $63,000 as former President Trump confirmed his attendance at Bitcoin 2024. Despite a failed assassination attempt, Trump remains a strong Bitcoin supporter, advocating for crypto-friendly regulations. Analyzing the Bitcoin chart on the weekly timeframe, we see that the price, as expected, rebounded from our demand zone and has…
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Gold News Gold prices dipped on Monday due to a firm dollar. Investors are awaiting economic data and comments from Federal Reserve officials for U.S. interest rate cues. Spot gold was down 0.4% at $2,402.82 per ounce; U.S. gold futures were down 0.5% at $2,408.50. The dollar rose after an attempted assassination of Donald Trump,…
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Gold Analysis: By examining the #Gold chart on the 4-hour timeframe, we observe that after trading around $2419 last night, gold entered a significant supply zone between $2407 and $2450 (Daily Bearish Order Block). As expected, the price declined from this zone and dropped to $2398, resulting in approximately 200 pips of profit. Currently, gold is…
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Gold News Gold prices dipped 0.3% to $2,407.31 per ounce, but were up 0.5% for the week. U.S. gold futures fell 0.4% to $2,412.50. Weaker-than-expected U.S. inflation data boosted expectations for September rate cuts. Markets now see a 93% chance of a September rate cut, up from 70%. Lower interest rates reduce the opportunity cost…
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Gold Analysis: As we saw, the CPI statistics were released, and the actual figures were lower than the forecasted ones. This caused the gold price to start rising according to the first scenario, penetrating above $2393 to gather liquidity. Subsequently, it managed to fill its old FVG by rising to $2413. After that, gold faced selling…
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Gold Analysis: By analyzing the gold chart on the 4-hour timeframe, we observe that the price is currently trading around $2382. In a few minutes, we will have CPI statistics, and if these figures exceed the predicted rate, it could lead to a decline in gold prices or vice versa! Possible scenarios include the price initially…
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