PSD_Trading

XAUUSD | Eyeing the FOMC Meeting for Fresh Impetus Experts still maintain a positive view on gold prices as the need for a safe haven continues amid the conflict in the Middle East. World gold price traded at 1,980.80 USD/ounce, down 14.81 USD/ounce compared to early yesterday morning. Precious metals fell due to a combination of psychological resistance around $2,000/ounce and profit-taking before important economic data were released. However, we still maintain a positive view on gold prices as the need for a safe haven continues amid the conflict in the Middle East. Gold prices rose more than 7% in October after investors sought safety amid this uncertainty. Currently, central banks are aggressively buying gold. During the period from January to September 2023, central banks bought a total of 800 tons of gold, mainly from countries such as China, Poland and Singapore. This number has exceeded purchasing power in the same period in 2022 due to record high demand. XAUUSD TECHNICAL OUTLOOK Looking ahead of tomorrow's FOMC meeting and we could see the precious metal remain rangebound ahead of the meeting. The range between $1980 and $2020 may remain intact as the precious metal looks for a catalyst to renew its bullish vigor. Key Levels to Keep an Eye On: Resistance levels: 2000 - 2007 - 2020 Support levels: 1990 - 1980 - 1969

XAUUSD | Having difficulty when psychology improves S&P 500 FORECAST & XAUUSD : - Gold faces difficulties as sentiment improves. Will a sustained move above $2000/oz materialize? - The S&P 500 ended last week down 10% from its highest level since the beginning of the year. This is often considered a correction. - A series of earnings and data releases await. Could earnings and data releases overshadow geopolitical risks and fuel market volatility this week? The S&P 500 is expected to rebound today as safe-haven demand eases and attention turns to upcoming data events. Tensions in the Middle East eased after an Israeli military ground offensive was less severe than expected, improving risk sentiment. Last week's earnings were mostly positive, with the exception of Alphabet's cloud business. McDonald's announced earnings this morning and beat expectations thanks to new products and low prices. The S&P lost about 10% from its July high, which is considered a correction. Buying pressure has returned but its sustainability remains uncertain next week. PROSPECTS XAUUSD Gold increased buying pressure on Friday as Israel announced a ground offensive, enhancing its safe-haven appeal. The week started with slightly improved sentiment, pushing Gold closer to the $2000 mark. To maintain the bullish momentum, it needs to break and hold above this level. The situation in the Middle East remains the main driver of Gold prices, especially ahead of the FOMC meeting on Wednesday. Any surprise announcement from the Fed could impact Gold prices in the near term. There's a lot of data coming out this week with earnings season getting underway in the US. Market participants are cautious ahead of Wednesday's FOMC meeting due to uncertainties about another interest rate hike from the Central Bank. KEY LEVELS TO PAY ATTENTION TO Support levels: 1993 - 1983 - 1973 Resistance level: 2000 - 2009,50 - 2022

XAUUSD | Jumps Hurdles Ahead of Fed and Despite a USD Rally XAUUSD , US Dollar, Fed, FOMC, Treasury Yields, Real Yields, GVZ Index - Talking Points - The gold price leapt to new highs as haven demand continues - The psychological US$ 2,000 mark has been eclipsed with volatility ticking up - The FOMC meeting lies ahead. Will it provide price swings for XAUUSD? The spot gold price surpassed $2,000 last Friday ahead of the Federal Open Market Committee (FOMC) meeting this week. Treasury yields have eased but remain high, impacting the US Dollar and gold prices. Geopolitical tensions in the Middle East are also affecting asset values. When the US Dollar and Treasury yields rise, gold tends to face selling pressure. Similarly, when US real yields increase, gold often declines as it lacks interest-bearing qualities. US real yields have reached a 15-year high at the 10-year mark, trading above 2.60%. Real yield is calculated by subtracting the market-priced inflation rate from the nominal yield. The surge in real yields is due to higher nominal yields and lower inflation expectations. Despite this, there has been no impact on the price of gold yet. It is worth monitoring these markets for any sudden changes. The interest rate market predicts no change in the Fed funds target rate, but Fed Chair Jerome Powell's post-decision discussion could influence the price of gold. To understand the influence of central banks on markets, click on the banner. GOLD - WEEKLY ANALYSIS ➡️In terms of fundamental analysis: Gold is being strongly influenced by information about the Middle East war. The global supply chain disruption is becoming increasingly serious. Prices of oil and other commodities increased. Putting pressure on global inflation in a context where the FED seems to have no more room to raise interest rates. This contributes to supporting the price increase rate of Gold. ➡️In terms of technical analysis: The falling correction wave structure was broken in the area (1983 - 1985). This opens up an opportunity for a corrective wave to reach the 1983, 1963 area and beyond at 1948.

XAUUSD | Ease in Tensions Allows Momentary Calm XAUUSD PRICES EASE AFTER DIPLOMATIC EFFORTS ALLOW FOR MOMENTARY DE-ESCALATION An agreement was reached for aid to be sent to Gaza and two Israeli hostages returned home. Ongoing discussions may bring a temporary lull in the intense war that could escalate into a regional conflict. Israel might consider postponing its ground offensive to secure the safe release of additional hostages. This is a departure from the frequent rocket attacks by both sides seen throughout the conflict. Therefore, the XAUUSD market has taken this an opportunity to take some risk off the table and reassess the next move. Panic buying of the safe haven metal led gold higher, only showing a loss of momentum around the $1985 level. However, the chances of an extended pullback appear unlikely with the war far from over. $1937 appears as potential support for the pullback and a prompt bid higher could see $1985 come into focus very quickly in the event tensions heat up again.

XAUUSD | The rally took prices to new highs XAUUSD MARKET ANALYSIS AND COMMENTARY - October 23-October 27 After opening at 1,926 USD/oz, international gold prices fell to 1,908 USD/oz, then continuously increased sharply to 1,997 USD/oz and closed this week at 1,980 USD/oz. The reason international gold prices increased sharply this week is due to the increasing conflict between Israel and Hamas, causing gold's role as a safe haven to increase sharply. After Hamas launched a terrible attack on Israel on October 7, many predicted that this conflict would only be a limited conflict between Israel and Hamas. But that argument became less convincing after the horrific explosion on October 17 at al-Ahli hospital in Gaza City, where many displaced Palestinians were taking refuge. But even before the tragedy at al-Ahli hospital, the scale of Hamas attacks and the ongoing reality in the Gaza Strip were changing the strategic calculations of the parties involved. Those changes are putting a full-blown conflict in the region at risk of breaking out, especially the risk of confrontation between Iran and Israel. If there is a confrontation between Israel and Iran, not to mention a full-scale war in the Middle East, it could destabilize the region, disrupt global markets, and cause great harm to civilians. , attracting American forces and perhaps even pushing Iran to weaponize its nuclear capabilities. Thus, the Israel-Hamas conflict still has many potential risks leading to a comprehensive war in the region, especially a direct confrontation between Israel and Iran. This could push crude oil prices up sharply, causing the world economy to face the risk of more instability and sharp increase in inflation in the context of monetary tightening with almost no room left. Therefore, gold will continue to be backed by the Israel-Hamas conflict. However, buying gold as a geopolitical safe haven has never proven to be sustainable. Therefore, gold prices will face the risk of a strong sell-off when the Israel-Hamas conflict temporarily subsides or prolongs without results. In addition to the Israel-Hamas conflict, the US's third quarter GDP data and September personal consumption expenditure (PCE) index will attract special attention from investors. Although the Israel-Hamas conflict may still influence gold prices, if these figures have a sudden increase/decrease, it will still have a strong impact on gold prices next week. TECHNICAL ANALYSIS XAUUSD Looking at the technical chart in frame D1, we can see that the gold price increased continuously from the threshold of 1810 to close to the round resistance mark of 2000, successively breaking through the resistance marks of 1885-1950-1985. Next week, if the geopolitical situation calms down, gold may re-enter the correction cycle. The trading plan for next week will consider the buying season around 1925, the selling season around 2010.

XAUUSD | Rally Gathers Steam Following Gaza Hospital Blast XAUUSD PRICE FORECAST: - Gold's rally accelerates after Gaza hospital explosion. - The dollar index (DXY) continued its uptrend as Treasury yields hit multi-year highs but gold remained unaffected. - IG customer sentiment shows that retail traders are extremely holding on to gold. Gold rose today due to increased risk aversion caused by an explosion at a hospital in Gaza. Both Israel and Palestine blamed each other for the incident, raising concerns of a wider conflict. Gold prices surged towards $1950/oz as a result. FED POLICYMAKERS, MIDDLE EAST TENSIONS AND US TREASURIES The US had a strong week with retail sales surpassing expectations, leading to increased projections for a rate hike in December. Fed policymakers emphasized the importance of upcoming data and did not rule out additional hikes. Waller, a Federal Reserve policymaker, suggested that a slowdown in the real economy could result in rates staying steady. Analysts believe that the "higher for longer" narrative is gaining momentum. Additionally, longer-dated US treasuries have been performing well, with the 10-year yield reaching multi-year highs last seen in January 2007. Fed policymakers see this as beneficial in terms of managing interest rates. Given the strained relations with Israel, it is not surprising that Iran has been the most vocal country in the Middle East. While direct involvement from any specific country is unlikely, escalation through proxies is highly plausible. Smaller terror groups like Hezbollah could potentially join with support from regional countries. If the conflict brings the US more into focus, gold prices may accelerate. The $2000 level will be at risk if the conflict continues without a ceasefire or resolution, so it should be monitored in the coming days. RISK EVENTS AHEAD Most of the upcoming major risk for Gold will likely come from the Middle East this week. There won't be any significant data releases that could affect Gold and Silver prices for the remaining week. Today, the rise in the Dollar had minimal impact on Gold and Silver, as both commodities gained momentum. XAUUSD TECHNICAL OUTLOOK Gold has broken the descending trendline from mid-July and is experiencing an expansive rally. A daily close above $1950 is crucial for bullish continuation. Despite geopolitical factors, a close below $1950 could still lead to bullish continuation depending on risk sentiment. The $1950 level has been a significant area of resistance since August. The 14-day RSI is approaching overbought territory and may come into play if the rally continues tomorrow.

XAUUSD | Attract safe haven flows The XAUUSD market will continue to attract safe haven flows due to the Israel-Hamas conflict. World gold price stood at 1,940 USD/ounce, a sharp increase of 25 USD/ounce compared to the same hour yesterday morning. The conflict in the Middle East between Israel and Hamas is hotter than ever and could spread and shock the world. This area is a source of supply and an extremely important energy transport route. Some forecasts say that the conflict between Israel and Hamas could disrupt the world economy and even cause the world economy to fall into recession if more countries participate in this conflict. Geopolitical uncertainties continue to be factors driving gold's rise. Currently, investors are looking forward to the speech of US Federal Reserve Chairman (Fed) Powell on Thursday to get more clues about the US Central Bank's monetary policy roadmap after the comments. Recent dovish comments from some Fed officials. The XAUUSD market will continue to attract safe haven flows due to the Israel-Hamas conflict. It is forecasted that gold will fluctuate in the range of 1,900 USD/ounce until there is some ceasefire or the conflict subsides.Comment: 🕯 SELL GOLD |  1948 - 1946 🔴 SL: 1952 🟢 TP1: 1941 🟢 TP2: 1936Trade active: Running + 25pips ✔️✔️✔️

XAUUSD | Bearish Winds Prevail but Turnaround Nears XAUUSD PRICE OUTLOOK - Gold prices fell after US CPI data was hotter than expected - Rising inflationary pressures increase Treasury yields and the US dollar, creating a challenging environment for precious metals - A look at key XAUUSD technical levels worth watching in the coming trading sessions Gold prices rebounded slightly after reaching multi-month lows. However, the upward momentum was halted when U.S. inflation data exceeded expectations. The strong U.S. dollar and higher odds of a rate hike in December led to gold and silver prices falling into negative territory. The market conditions for precious metals may be challenging, but there is some hope on the horizon. Recent statements from the US central bank suggest they may end their rate hikes soon, creating a more favorable environment for non-yielding assets. While gold and silver may face short-term bearishness, there is potential for a strong advance in the coming months, especially for gold. If unexpected economic obstacles arise, leading to a more cautious approach from the Federal Reserve, a significant rally could occur. XAUUSD PRICE TECHNICAL ANALYSIS Gold attempted to break through a resistance zone at $1,885 but was quickly rejected, indicating strong selling pressure. Traders should pay attention to price movement in the coming days for signs of continued weakness, which could lead XAU/USD towards $1,860. If there is a pullback, the $1,860 area may provide support, but a breakdown could result in a retest of the 2023 lows. On the other hand, if buyers step in and cause a strong rebound, initial resistance lies between $1,885 and $1,890. The bears are expected to fiercely defend this level, but if there is a breakout, the price could reach $1,905 (38.2% Fibonacci retracement level of the May/October decline). Further strength may embolden the bulls to challenge channel resistance near $1,925.