17 July 2024 XAUUSD Spot Gold Analysis
Jul 17 at 12:30
170 Views
3 Replies
Biedrs kopš
6 ieraksti
Jul 17 at 12:30
(labots Jul 17 at 12:45)
Why XAUUSD price is rising?
Any data that supports the chances of rate cut, will push XAUUSD price higher. It will be wise to monitor data, US 10 Year yield, Dollar Index and other instruments which co-relate with Spot Gold directly. We should also not forget that since this year US elections will be held in November, we should expect higher volumes and volatility in Spot Gold Price.
Gold price (XAU/USD) scales higher for the third straight day – also marking the sixth day of a positive move in the previous seven – and hits a fresh record peak, around the $2,482-2,483.
The current market pricing indicates over a 90% chance that the Federal Reserve (Fed) will cut interest RATES in September. This, in turn, keeps the US Treasury bond yields depressed near a multi-month trough and is seen as a key factor driving flows towards the non-yielding yellow metal.
Any data that supports the chances of rate cut, will push XAUUSD price higher. It will be wise to monitor data, US 10 Year yield, Dollar Index and other instruments which co-relate with Spot Gold directly. We should also not forget that since this year US elections will be held in November, we should expect higher volumes and volatility in Spot Gold Price.
Gold price (XAU/USD) scales higher for the third straight day – also marking the sixth day of a positive move in the previous seven – and hits a fresh record peak, around the $2,482-2,483.
The current market pricing indicates over a 90% chance that the Federal Reserve (Fed) will cut interest RATES in September. This, in turn, keeps the US Treasury bond yields depressed near a multi-month trough and is seen as a key factor driving flows towards the non-yielding yellow metal.
Plan your trade, and then trade your plan!
Biedrs kopš
6 ieraksti
Jul 17 at 13:59
XAUUSD current co-relations:
US10YT -
USD S 24
JPY S 90
AUD S 16
DXY -
XAUXAG 80.16
Impact: XAUUSD: + $2470-2478
Buying Zone: $2442/2424
Selling zone: $2500/2509/2525
Exit in $3 profit in each entry/set.
Do not invest more than 1% of your principal amount per set/trade.
I had projected $2469 and 2479 as Long positions TP, and entries for SHORT positions, XAUUSD price retraced to $2463.50 giving us a neat exit.
How we calculated XAUUSD target - take profit price: conditions applicable for yesterday due to various factors not mentioned here.
Formula applied: USDJPY: (-) 470P
Expected Price movement +/- in XAUUSD per 100P USDJPY= $30
USDJPY crashed from $161.900-157.200= 4700
= XAUUSD (+): 30*4.7: $141
= $2338+141 = $2479 : Target achieved on 17 July 2024
Disclaimer: Forex Trading involves HIGH RISK.
Past performance doesn't guarantee profits.
You may lose more than your invested amount.
US10YT -
USD S 24
JPY S 90
AUD S 16
DXY -
XAUXAG 80.16
Impact: XAUUSD: + $2470-2478
Buying Zone: $2442/2424
Selling zone: $2500/2509/2525
Exit in $3 profit in each entry/set.
Do not invest more than 1% of your principal amount per set/trade.
I had projected $2469 and 2479 as Long positions TP, and entries for SHORT positions, XAUUSD price retraced to $2463.50 giving us a neat exit.
How we calculated XAUUSD target - take profit price: conditions applicable for yesterday due to various factors not mentioned here.
Formula applied: USDJPY: (-) 470P
Expected Price movement +/- in XAUUSD per 100P USDJPY= $30
USDJPY crashed from $161.900-157.200= 4700
= XAUUSD (+): 30*4.7: $141
= $2338+141 = $2479 : Target achieved on 17 July 2024
Disclaimer: Forex Trading involves HIGH RISK.
Past performance doesn't guarantee profits.
You may lose more than your invested amount.
Plan your trade, and then trade your plan!
Biedrs kopš
6 ieraksti
Jul 22 at 15:37
TRUMP effect: The TRIUMPH factor for DOLLAR!
“Recall, our gauge of discretionary trader positioning in Gold remains bloated relative to rates market expectations, with signs that the Trump trade has contributed to some froth above and beyond what is consistent with expectations of Fed cuts alone.
“Positioning risks are now asymmetrically skewed to the downside in the Yellow Metal, with Commodity Trading Advisors (CTAs) effectively sitting on a 'max long' position that remains vulnerable to a break south of $2380/oz, whereas even a modest reversal of the Trump trade could catalyze additional selling activity.”
“With Asia on a buyer's strike, as highlighted by the plummeting SGE premium alongside notable long liquidations on Shanghai Futures Exchange (SHFE), a liquidity vacuum could ensue with fewer buyers to offset potential liquidations from a potential reversal of the Trump trade compounded by CTA selling activity in a downtape. The window for downside is open in the Yellow Metal.”
#TDS
“Recall, our gauge of discretionary trader positioning in Gold remains bloated relative to rates market expectations, with signs that the Trump trade has contributed to some froth above and beyond what is consistent with expectations of Fed cuts alone.
“Positioning risks are now asymmetrically skewed to the downside in the Yellow Metal, with Commodity Trading Advisors (CTAs) effectively sitting on a 'max long' position that remains vulnerable to a break south of $2380/oz, whereas even a modest reversal of the Trump trade could catalyze additional selling activity.”
“With Asia on a buyer's strike, as highlighted by the plummeting SGE premium alongside notable long liquidations on Shanghai Futures Exchange (SHFE), a liquidity vacuum could ensue with fewer buyers to offset potential liquidations from a potential reversal of the Trump trade compounded by CTA selling activity in a downtape. The window for downside is open in the Yellow Metal.”
#TDS
Plan your trade, and then trade your plan!
Biedrs kopš
6 ieraksti
Jul 25 at 09:44
Read previous article in which I had projected $2369 as potential buying zone:
https://www.reddit.com/r/prgoldanalysis/comments/1e9cjfh/xauusd_23422323_or_24852509_in_next_10_days/
XAUUSD today's low: $2366,
reversal achieved: $2366-2377 at 13.30 hours.
https://www.reddit.com/r/prgoldanalysis/comments/1e9cjfh/xauusd_23422323_or_24852509_in_next_10_days/
XAUUSD today's low: $2366,
reversal achieved: $2366-2377 at 13.30 hours.
Plan your trade, and then trade your plan!
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