2023-09-19 • Updated
Gold prices are rising for three consecutive days ahead of the Federal Reserve (Fed) interest rate decision, which is expected to remain unchanged due to declining inflation and a positive economic outlook. Investors are keen on the Fed's interest rate guidance, fearing a hawkish stance that could trigger market risk aversion. The market anticipates the Fed will hold off on rate hikes until the end of the year, but concerns about rising energy prices may impact inflation. The Fed might keep interest rates high to bring inflation down to 2%, potentially affecting manufacturing and housing. Gold's technical analysis suggests a short-term bullish trend, hovering around $1,935.
The price action on the 4-hour chart of the US Dollar has been constrained within a rising channel for a while; the most recent move being a retest of the support trendline of the channel. This means we can expect to see a bounce back up from that trendline, in line with the bullish array of the moving averages and the support from the 50-period moving average.
Analyst’s Expectations:
Direction: Bullish
Target: 105.258
Invalidation: 104.450
The daily timeframe of XAUUSD has had two bouts of bullish impulse, both of which have failed to deliver higher highs. This is why price can now be seen trading within the wedge pattern, with a likelihood of a rejection from the resistance trendline. The rally-base-drop supply zone is expected to contribute to the bearish outcome from the price action.
Analyst’s Expectations:
Direction: Bearish
Target: 1912.20
Invalidation: 1952.00
The trading of CFDs comes at a risk. To succeed, you have to manage risks properly. To avoid costly mistakes while you look to trade these opportunities, be sure to do your due diligence and manage your risk appropriately.
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Bearish scenario: Sell below 2200 / 2194 ... Nearest bullish scenario: Buy above 2197... Bullish scenario after retracement: Consider buys around each indicated demand zone
Bullish scenario: Intraday buys above 2160.00 with TP: 2171 and TP2: 2177 // Bearish scenario: Sells below 2177 with TP1: 2150, TP2: 2142, and 2126
This article uses price action and volume profile techniques to address a fundamental and technical perspective based on the daily chart analysis of spot gold (XAUUSD).
Jerome H. Powell, the Federal Reserve chair, stated that the central bank can afford to be patient in deciding when to cut interest rates, citing easing inflation and stable economic growth. Powell emphasized the Fed's independence from political influences, particularly relevant as the election season nears. The Fed had raised interest rates to 5.3 ...
Hello again my friends, it’s time for another episode of “What to Trade,” this time, for the month of April. As usual, I present to you some of my most anticipated trade ideas for the month of April, according to my technical analysis style. I therefore encourage you to do your due diligence, as always, and manage your risks appropriately.
Bearish scenario: Sell below 1.0820 / 1.0841... Bullish scenario: Buy above 1.0827...
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