just wondering after US open it seems like the market are always the strongest for gold huh ?
it's kinda fun to trade
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Disliked{quote} lately i'm getting into gold just wondering after US open it seems like the market are always the strongest for gold huh ? it's kinda fun to tradeIgnored
DislikedHere's a top-down technical perspective on the XAUUSD. A topping M-formation has formed on the daily time frame but a rising trendline (red) is still intact. Technicals on the daily time frame still favour the bulls. On the H4 time frame, price action briefly breached a rising trendline (red) southwards but bulls have managed to take price back to keep the trendline in play. Although the candlestick printed in the last session of Friday is ambivalent, the bullish print a session earlier is an indication of the intention of bulls to be influential...Ignored
Disliked{quote} It has been fun because of the way gold has been taking a direction and just going. I generally prefer trading gold over most other commodities. Welcome aboard sir!Ignored
DislikedMorning traders..... Looking at these levels for the day, 1418( possible high for the day) 1393 (possible low for the day) For now will look to sell rallies, first sell around 1410,49..... Trade safeIgnored
Disliked{quote} I'm on the same page. Can't justify going long right now. I'm waiting for a good shorting opportunity.Ignored
DislikedHard to make an argument against gold heading lower given how oversold the USD is. The fact that the market is still pricing in more than a 25 basis point rate cut for July is absolutely insane. I believe the fed has been preparing the markets for exactly what they will deliver, a 25 basis point rate cut. Remember the latest dot plot had about half the members at 25 bp lower by the year's end. Here's what's priced in currently via CME: {image}Ignored
Disliked{quote} I concur. The necessity for 25bps is even questionable. Powell and Co run the risk of fueling asset bubbles with the drop, but I suppose that's a better outcome than a recession which is probably what we're in store for either way.Ignored
Disliked{quote} I'm right there with you Ef5. The latest dot plot has the majority of the Fed members' (8) assessments at finishing 2019 with rates in a range of 2.25-2.50. There are two outliers and the rest (7) are in agreements at 1.75-2.00. I posted it yesterday here. Here's what I'm not getting... 21% of the market think the FOMC will cut rates 50 basis points in July, which is equal to the most dovish assessments by the most dovish Fed members. After July, the market is...Ignored