Jump to content

Welcome to the new Traders Laboratory! Please bear with us as we finish the migration over the next few days. If you find any issues, want to leave feedback, get in touch with us, or offer suggestions please post to the Support forum here.

  • Welcome Guests

    Welcome. You are currently viewing the forum as a guest which does not give you access to all the great features at Traders Laboratory such as interacting with members, access to all forums, downloading attachments, and eligibility to win free giveaways. Registration is fast, simple and absolutely free. Create a FREE Traders Laboratory account here.

mohsinqureshii

Gold Bullish or Bearish

Recommended Posts

probably 1650/48 zone yansen..upside may be capped at 1.671/5 today. if 1684 is breached, then look for 1732...a breaking below the 1630 level would send gold down to 1613 level. if it does not stop there, then 1561 is the next target...

Share this post


Link to post
Share on other sites

Gold momentum looking good for 1640.00 daily support after having cleared 1660.00 level. Obsidian, thank you very much for your comments on the XAUUSD. Will wait for 1630.00 to enter a short order.

Share this post


Link to post
Share on other sites

I believe gold is in her sideways period and should be left alone for at (the very) least this week. But all depends on one's time frame.

 

I Also want to sell it about 1660 or above...;-)

:)

Share this post


Link to post
Share on other sites

My XAU/USD levels today:

 

 

Support 1 1655

 

Resistance 1 1668

 

Support 2 1651

 

Resistance 2 1672

 

 

Will look for opportunity to sell at either resistance levels.

Share this post


Link to post
Share on other sites

My XAUUSD levels today:

 

 

Support 1 1645

 

Resistance 1 1661

 

Support 2 1639

 

Resistance 2 1667

 

Will look for opportunity to sell at either resistance levels.

Share this post


Link to post
Share on other sites
Today I expect gold consolidating between 1665 and 1640. short term indicators are pointing south atm and slipping below 1650 would confirm that

 

this range is still valid...it gold stays above 1655, going to test 1665 again

Share this post


Link to post
Share on other sites
More like down, down and away.

 

It has been down and it might be trying to change from down to up. I would consider that as a possibility. But no one ever gets a free ride, so it will attempt to go back down and weed out the weak longs if there are any. So it may once again look like it is going down but the move will only be traders stealing the longs from weaker players. How far down it goes will depend upon how may weak longs have entered or will enter.

 

Fundamentally, gold is likely to go up since the sounds of stimulus are in the media again. In light of the EZ issues and its impact on the US, the fed may preemptively attempt to provide support to support what appears to be a stumbling economy. Stimulus is a more responsible word than printing money.

Share this post


Link to post
Share on other sites

That might be so.

 

But what I am hearing is that, other than buying mortgage packed securities, there is nothing further the fed can do that it hasn't already done.

 

So other than flight to safety, which is a very good reason, I don't see a reason for Gold to go higher.

 

Commodities collapsing so no real inflation. Deflation sure is a possiblity.

 

The Euro collapsing which strengthens the dollar, swissie and yen. But not really Gold.

 

Just my :2c:

Share this post


Link to post
Share on other sites
That might be so.

 

But what I am hearing is that, other than buying mortgage packed securities, there is nothing further the fed can do that it hasn't already done.

 

So other than flight to safety, which is a very good reason, I don't see a reason for Gold to go higher.

 

Commodities collapsing so no real inflation. Deflation sure is a possiblity.

 

The Euro collapsing which strengthens the dollar, swissie and yen. But not really Gold.

 

Just my :2c:

 

The fed can do more of the same. Not saying it will work, but it tends to force money into the market. They fear deflation. At the same time, Value is being eroded and gold is supposed to be a better store of value.

Share this post


Link to post
Share on other sites
The fed can do more of the same. Not saying it will work, but it tends to force money into the market. They fear deflation. At the same time, Value is being eroded and gold is supposed to be a better store of value.

 

More of what?

 

Rates are basically zero. They can't keep loading up bonds on the balance sheet. What credibility they have left would be shot. That doesn't leave anything more than what I said: buy other types of debt such as mortgage backed securities.

Share this post


Link to post
Share on other sites
More of what?

 

Rates are basically zero. They can't keep loading up bonds on the balance sheet. What credibility they have left would be shot. That doesn't leave anything more than what I said: buy other types of debt such as mortgage backed securities.

 

They can destroy their credibility more by buying more treasuries.

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.


  • Topics

  • Posts

    • I use binance, Tickmill and Hotforex(trade their CFD products). Anybody else trading crypto as Cfds?
    • How do I use mobile app to request withdrawal of my funds to crypto wallet? Can you help me?
    • Is anyone still trading with Market Profile? It seems such a good system and yet few people use it.
    • Agree with you. Keep yourself away from these things
    • Date : 16th July 2019. MACRO EVENTS & NEWS OF 16th July 2019.FX News Today Treasury yields steadied during the Asian session, with bonds erasing overnight gains and the 10-year yield now up 0.3 bp at 2.092%. JGB yields also backed up from lows and are down -0.1 bp at -0.129%, after returning from holiday, while yields declined in Australia and New Zealand after the minutes of the last RBA meeting showed the bank remains ready to adjust policy if needed. Stock markets meanwhile struggled in very light volumes as markets hold back ahead of key US data and earnings reports this week. On trade talks US Treasury Secretary Mnuchin said he and Trade-Representative Lighthizer may travel to Beijing if talks by phone this week are productive. The WTI future is trading below $60 per barrel and U.S. futures are posting marginal gains. In Europe, the GER30 future is currently slightly higher as are US futures, which UK100 futures are in the red, amid ongoing Brexit jitters as Boris Johnson, poised to succeed as PM next week, puts no-deal options firmly back on the table. Last week’s round of Brexit negotiators was reportedly one of the most difficult encounters of the last 3 years. Meanwhile JP Morgan, Bank of America, Goldman Sachs and Taiwan Semiconductor are among the companies reporting results this weeks. Charts of the Day Technician’s Corner EURUSD has been held between its 20-day Moving Average of 1.1295 and its 50-day Moving Average at 1.1242 since Friday. A 25 basis point Fed rate cut at the end of the month has been priced into EURUSD, and focus now may shift to the ECB, where further stimulus could be in the cards at its next meeting on July 25, keeping EURUSD capped for the time being. USDJPY broke earlier today its 20-day Moving Average at 107.95, after printing 8-session high from 107.80 during the overnight Asian session. The mixed risk backdrop has limited the pairing’s gains since last week, as Wall Street trades on either side of flat, and Treasury yields remain pressured. The July 5 low of 107.76 remains a floor for the asset, while next Resistance stands at 108.20 and 108.50 Main Macro Events Today Average Earnings (GBP, GMT 08:30) – Average Earnings excluding bonus for May expected to slightly increase at 3.2% from 3.1% last month. ZEW Economic Sentiment (EUR, GMT 09:00) – Economic Sentiment for July is expected to be released at -19.0 compared to -21.1 last month. Retail Sales and Core (USD, GMT 12:30) – 0.2% June retail sales gains are expected for both with and without autos, following 0.5% May gains for both measures. Unit vehicle sales ticked down to a 17.3 mln pace in June from an upwardly-revised 17.4 mln clip in May, and gasoline prices should provide a drag on retail activity given an estimated -3.5% figure for the CPI for gasoline. Real consumer spending is expected to grow at a 3.9% rate in Q2, following the 0.9% Q1 clip. Support and Resistance levels Always trade with strict risk management. Your capital is the single most important aspect of your trading business.Please note that times displayed based on local time zone and are from time of writing this report.Click HERE to access the full HotForex Economic calendar.Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE!Click HERE to READ more Market news. Andria Pichidi Market Analyst HotForex Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use.