XAUUSD | GOLDSPOT | New perspective | follow-up detail

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Gold prices surged 1% on Friday as U.S. Treasury yields fell, driven by optimism for a potential interest rate cut by the Federal Reserve in September. Data showed U.S. prices rose modestly in June, giving Fed policymakers fresh evidence of progress in their battle against inflation. The personal consumption expenditures (PCE) price index increased by 0.1% last month, pushing benchmark 10-year note yields to a one-week low.

In this video, we analyze the impact of these fundamental dynamics on the Gold market and explore the technical implications on the charts. With the Federal Reserve's monetary policy decision coming up next week, the central bank is expected to keep rates unchanged. However, this meeting could set the stage for the first rate cut in September.

What can we expect from the gold market in the coming week?

XAUUSD Technical Overview:
This week, we're focusing on the crucial $2,390 level. This is a big deal for gold traders - it could be a make-or-break point. If gold stays above $2,390: Bulls might take control, potentially pushing prices higher and setting up new highs. If gold maintains selling pressure below $2,390: Bears might gain the upper hand, and prices could head south respecting the descending channel in the process. Join me as we explore these factors and potential opportunities in the gold market. Like, subscribe, and hit the notification bell for the latest analysis and insights!

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Disclaimer Notice:
Trading in the foreign exchange market and other instruments carries a high risk and may not be suitable for all investors. The content provided here is for educational purposes only. Evaluate your financial situation and consult with a financial advisor before making any investment decisions. Past performance is not indicative of future results.

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Gold prices found support during the Asian session, driven by a confluence of supportive factors.

echnical Outlook: The technical picture remains bullish, with prices holding above the descending trendline and the critical $2,390 support level. This suggests further upside potential in the short term.

Fundamental Drivers:
📈 US Inflation Data: The release of the US Core PCE data on Friday, which showed a modest rise in inflation for June, has bolstered expectations for an imminent rate cut cycle by the Federal Reserve (Fed). This has led to a decline in US Treasury bond yields, weakening the US Dollar (USD) and creating a favourable environment for the Gold asset.
🌎 Geopolitical Tensions: Ongoing conflicts in the Middle East continue to fuel safe-haven demand for Gold, providing additional support to prices.
📉 Global Equity Market Sentiment: Despite the bullish outlook for Gold, gains remain capped by the positive mood in global equity markets, which typically reduces demand for safe-haven assets.
🗓️ FOMC Meeting in Focus: Market participants are likely to adopt a cautious approach ahead of the upcoming FOMC meeting and interest rate decision. This could lead to extended sideways trading activity until the outcome of the meeting becomes clear.

Trading Strategy:
📊 1H Timeframe Analysis: The newly identified structure on the 1H timeframe will guide our trading decisions. We shall discuss this in detail during our upcoming live session.

While the current technical and fundamental factors suggest a bullish bias for Gold, the upcoming FOMC meeting is likely to be a significant market driver. We will closely monitor the anticipation of the meeting and adjust our strategy accordingly.

Good Morning

注释

Gold (XAU/USD) experienced a rebound during the Asian session, attracting dip-buying following yesterday's bearish move that took out our buy position in a loss.

Gold is currently finding support from a confluence of factors:
📉 Weaker Equity Markets: A bearish sentiment in global equity markets, coupled with ongoing geopolitical tensions in the Middle East, fueled demand for the safe-haven appeal of Gold.
🇺🇸 US Dollar Weakness: The growing expectation of an imminent rate-cutting cycle by the Federal Reserve (Fed) in September continues to pressure the US Dollar, benefiting the non-yielding Gold.

However, the upside potential for XAUUSD remains capped as traders cautiously await further signals regarding the Fed's monetary policy path. The focus is squarely on the upcoming FOMC meeting on Wednesday, where the Fed's policy decision will have a significant impact on the market.

Technical Outlook:
📈 The ascending trendline and the week's key level at $2,390 remain our guiding light ahead of the outcome of the FOMC meeting. These levels, combined with the current market dynamics will provide a framework for short-term trading opportunities.

Good Morning

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With a minimum of 500 pips in profit from two buy positions, it's prudent to secure some gains as Gold (XAU/USD) shows strong performance ahead of the Federal Reserve's (Fed) monetary policy decision later today.

Gold's safe-haven appeal continues to strengthen amid escalating Middle East tensions following reports that Hamas leader Ismail Haniyeh was killed in an Israeli air strike on Tehran. This has raised concerns about possible retaliation from Iran, reducing the likelihood of a ceasefire and further supporting the precious metal.

As we await the Fed's policy announcement, attention will also be on the ADP Employment Change data for July, expected to show a steady rise of 150K in private payrolls.

The existing chart structures remain valid; secure profits now as we monitor for new trading opportunities.

Good Morning

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#XAUUSD

Third buy position was triggered at the break of the $2,421.50 level; secure some profit as we look forward to the outcome of the FOMC meeting coming up in about 4 hours from now.

注释

#XAUUSD

STRUCTURAL UPDATE | 15 Min Timeframe

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Gold prices retraced yesterday's gains amid profit-taking activity, leading to an active sell position. The near-term bias remains tilted towards the upside which is further fueled by expectations of an imminent start to the Federal Reserve's (Fed) rate-cutting cycle, which historically supports the appeal for safe-haven assets.

The Fed's relatively dovish stance yesterday reinforced these bets, pushing US Treasury bond yields lower and keeping the US Dollar (USD) under pressure.

Additionally, the geopolitical tensions in the Middle East further validate the positive outlook for gold as a safe-haven asset.

However, a generally positive risk sentiment could act as a headwind and cap further gains in XAU/USD.

From a technical perspective, price action is currently within the recently identified ascending trendline. This highlights the importance of securing profits now while exercising patience and monitoring how price action will react to this trendline for new trading opportunities.

Good Morning