The Uptrend of GOLD Price is Unstoppable?
Hello everyone! Today i want to share some macor analysis with you!
1.
$Gold - main 2408(GCmain)$ Gold market analysis: The Fed's high expectations for rate cuts help gold prices to hold the key position of 2400!
Today's gold After the technical decline in the Asian market, XAUUSD hit a low of around 2401. It is currently rebounding as expected, which is in line with my technical analysis trend over the weekend! As long as it stands at 2400, gold will continue to rise! Risk aversion and expectations of rate cuts will make the rise in gold prices more stable! The upper resistance is still focused on 2425! Buy orders continue to be the main focus in trading!
2.
$XAU/USD(XAUUSD.FOREX)$ 's sharp rise is in line with the expected trend, and it successfully broke through 2425 to maintain high upward momentum! Buy orders continue to make profits! I emphasized last week that new highs will be created this week! 2450 is expected to break through smoothly, and highs will continue to be created!
3.
GOLD TRADING ALERT: Gold prices hit two-month highs as Fed rate cut probability rises to 100 per cent in September!
Tuesday (16 July) Asian morning trading, spot gold narrow shock rose, currently trading at 2427.35 U.S. dollars / ounce near. Gold prices rose as high as a nearly two-month high of $2439.62 per ounce on Monday, closing at $2422.11 per ounce, helped by a further rise in expectations for a September rate cut by the Federal Reserve, and traders are waiting for more speeches from Fed officials to judge the timing of the rate cut. 2439.62 is the highest level since May 20, when the gold price hit a record $2,449.89 per ounce Highs.
This week's focus will be on US retail sales (commonly known as the "scary data" and released on Tuesday) and industrial output data for June, as well as weekly jobless claims data, which could provide more clues about the strength of the US economy.
D1 trend, the averages are arranged in a bullish manner, MACD golden fork, Bollinger Bands open, KDJ upward dispersion, if the gold price can top the May 20 highs near the 2450 mark resistance, it is expected to open a new round of upward channel, the price measurement is expected to look above the 2600 mark.
However, since April 15, the gold price overall in the high box oscillation trend, currently close to the top of the box resistance, still need to beware of the short-term risk of topping, the initial support in the 5-day SMA 2408.06 near, and then the 2400 mark support, 10-day SMA support in the vicinity of 2386.65, if the price of gold fell back below the position, then increase the bearish signals in the market.
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https://x.com/TradersXauusd/status/1813038271137820686
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