GOLDFXCC™ - [TRIAL] Channel️

2022-08-29 04:25:20 https://www.tradingview.com/chart/EURJPY/S1ZGrWRN-EURJPY-H2-Market-View/ Open / Comment

2022-08-25 23:38:24 Fed Chair Powell and Monetary Policy tomorrow

- Federal Reserve Chair Jerome Powell’s speech at the Jackson Hole central bankers’ meeting on Friday (tomorrow) will be the key factor in the short-term driving the price action in the gold market.

Important

- If Powell signals the need for aggressive rate hikes then sellers should return to the gold market because rising rates increase the opportunity cost of holding non-yielding bullion. Additionally, higher rates should make the U.S. Dollar a more attractive investment. A stronger dollar is also a negative for gold demand because it makes the metal more expensive to foreign buyers. Open / Comment

2022-08-25 12:48:04 1. 25/08/22 Today’s free trade
───────────────
SELL LIMIT EURJPY at 136.74
Stop Loss 137.00
Take Profit 1 136.34
Take Profit 2 134.74
APPROPRIATE LOT SIZE 2% risk
─────────────── Open / Comment

2022-08-25 02:54:40 Market Outlook
#gold | #usd

- Gold prices are edging higher on Wednesday as U.S. Treasury yields test a key resistance area that could determine the direction of bullion’s next major move. Meanwhile, a potentially bearish technical pattern by the U.S. Dollar Index suggests momentum may be getting ready to shift to the downside, which could also give gold a near-term boost.
However, today’s early price action is likely being fueled by position-squaring and adjusting ahead of Friday’s highly anticipated speech by Federal Reserve Chairman Jerome Powell at the central bankers’ symposium at Jackson Hole, Wyoming.

- There is just too much uncertainty in the markets as to whether Powell will suggest going big with a super-sized 75-basis-point rate hike in September or if he backs a milder 50-basis-point.
- The current reading from the FedWatch Tool indicates the same assessment with the chances of a 50-basis-point rate hike coming in at 49.5% and the odds of a 75-basis-point rate hike sitting at 50.5%.


- Three days of short-covering in gold is not a long enough time period to signal the momentum has shifted in the market, but since Treasury yields are dipping and the U.S. Dollar is paring some of its recent gains, it does indicate investor indecision and impending volatility.

Fed Chair Jerome Powell’s speech at Jackson Hole on Friday will be closely watched for more clues on future interest rate hikes. The price action suggests that traders expect some strong guidance from Powell and hopefully, he doesn’t disappoint. Powell is going to either put a lid on the volatility with decisive remarks or contribute to the volatility by remaining on the proverbial fence. Open / Comment

2022-08-24 19:33:49 XAUUSD H2 View Open / Comment

2022-08-23 16:35:53 1. 23/08/22 Today’s free trade ─────────────── SELL LIMIT EURJPY at 136.69 Stop Loss 136.91 Take Profit 1 136.29 Take Profit 2 135.39 APPROPRIATE LOT SIZE 2% risk ─────────────── Open / Comment

2022-08-23 13:34:00 1. 23/08/22 Today’s free trade
───────────────
SELL LIMIT EURJPY at 136.69
Stop Loss 136.91
Take Profit 1 136.29
Take Profit 2 135.39
APPROPRIATE LOT SIZE 2% risk
─────────────── Open / Comment

2022-08-22 18:26:10 1. 22/08/22 Today’s free trade ─────────────── BUY GBPUSD at 1.1780 Stop Loss 1.1760 Take Profit 1 1.1820 Take Profit 2 1.1977 APPROPRIATE LOT SIZE 2% risk ─────────────── Open / Comment

2022-08-22 17:04:16 1. 22/08/22 Today’s free trade
───────────────
BUY GBPUSD at 1.1780
Stop Loss 1.1760
Take Profit 1 1.1820
Take Profit 2 1.1977
APPROPRIATE LOT SIZE 2% risk
─────────────── Open / Comment

2022-08-22 15:03:44 Market Outlook
#gold | #usd

“Gold investors are dropping the non-yielding asset like higher risk stocks, bonds, and currencies and redeploying into the U.S. Dollar.”

- Gold prices are edging lower on Monday as traders shrugged off recession talk and a dip in Treasury yields, while continuing to focus on rising U.S. rate hike expectations and the strengthening U.S. Dollar.

- The price action suggests that gold investors are dropping the non-yielding asset just like other investments like stocks, bonds, currencies and crypto instruments and redeploying into cash then the U.S. Dollar. This indicates that the dollar is not only getting a boost from rising Treasury yields, but also from its safe-haven appeal.
- Additionally, while financial market traders have priced in the probability of a 50-basis-point rate hike at 51.5% and the probability of a 75-basis-point rate hike at 48.5% on the back of hawkish comments from Federal Reserve officials, according to economists in a Reuters poll, the Fed is more likely to raise rates by 50-basis-points due to growing recession worries.

Technical view
- The main trend is up according to the daily swing chart. However, momentum is trending lower. Open / Comment