RalphBenjaminTrading

Hello smart and wealthy traders! Selling activities to take profits and investors waiting for US inflation data caused the market to decline in the first session of the week. Closing the trading session on May 13, world spot gold price decreased by 24 USD to 2,335 USD. During the session, the price at times dropped close to 2,330 USD. Analysts believe that prices fell due to profit-taking after two strong increases last week. Besides, investors are also waiting for this week's inflation data to find more clues about when the US Federal Reserve (Fed) will reduce interest rates. "The reason may be that investors left the market before some risk events this week, such as Fed Chairman Jerome Powell's speech, producer price index (PPI) and consumer price index (CPI) ". On the hourly timeframe although the bullish trend remains well supported, there are signs of a potential top forming at $2378. But! At the same time a pattern may gradually be formed which is said to be a cup with handle reversal. There are expectations that after reaching the Fibonacci retracement level from 0.618 to 0.5 the price will fall to a technical target of around 2300 USD, acting as a solid defensive zone for those who are optimistic about gold's prospects. .Trade active

Hello dear traders! Currently, gold price (Xau/USD) is trading at 2,348 USD, equivalent to 12 USD compared to the beginning of the session. The main reason is comments from the Federal Reserve (Fed) and increasing speculation that the Fed may delay its easing plan, which has pushed up the greenback and pulled down gold prices. With lower USD. However, signs of economic weakness and geopolitical tensions in the Middle East could support the precious metal in the near term. The first upside barrier for Xau/USD will appear near the May 10 high, $2,378, en route to the psychological level of $2,400. A decisive breakout above this level could pave the way for a rally to the next major resistance near the highs near $2,432 and then $2,500. Technically: There is a bullish flag pattern slowly forming on the 4-hour chart. Theoretically the price should break the resistance above the channel and further materialize the distribution phase. By maintaining at this high level, it is likely that the price will retest the trend line and retest the EMA 34.89 levels to accumulate before growing further.Trade activeComment:

Donald Nguyen welcomes everyone! Let's summarize and strategize our new day! Gold price today touched 2356 USD and decreased 0.18% during the day. On impact news: Last week, the yellow metal posted modest gains as expectations that the US Federal Reserve (Fed) would loosen policy this year increased following weak economic data. . It is expected that this week is an important time to decide whether gold will reach a new record or not when the market receives the April consumer price index and producer price index reports. Recently, the Fed emphasized that America's inflation war is not effective when inflation is still much higher than the target level of 2%. In addition to the consumer price index and producer price index, this week the market will wait for the US retail sales report, the number of weekly unemployment benefit applications, and the statement of Fed Chairman Powell in Amsterdam. Talking about the trend and conclusion: The US is in a persistent inflation war, where all asset classes will see a “significant” revaluation and then capital flows in the market will Gradually shifting to hard assets. “It's time for the Fed to take action, which creates a bullish scenario for hard assets.” Therefore, it would be more reasonable for the focus to remain on significant bullish trend waves and to expect gold prices to reach $2,423 and $2,500 at the very least. Talking about technical analysis: With the current trend, it is likely that the price will continue to adjust further during the day, with a possible target of 2330 USD, for example, and a retest of the EMA 34.89 levels to consolidate the trend and pullback. following the waves of regression.Trade activeComment:Comment: Following the upsurge seen in the second half of the previous week, Gold stages a downward correction and trades in the red below $2,350 on Monday. Nevertheless, the benchmark 10-year US Treasury bond yield edges lower below 4.5% and allows XAU/USD to limit its losses.Comment:

Hello dear traders! Overall, XAUUSD experienced impressive volatility yesterday with gains surpassing the $2350 level and reaching $2360. However, not long ago the price approached $2,380 after which it encountered selling pressure and corrected. But! At the same time a round bottom pattern that looks similar to a cup and handle pattern is gradually forming, which usually determines our buying outlook. As I mentioned before, the safe demand zone for investors is still 2,400 USD and then possibly the 2,500 USD zone in the future. We can now expect a test of the $2350 breakout zone with the aim of gathering liquidity at the expense of sellers and a continuation in the new uptrend. Fundamentally: The US Fed's hawkish talks on interest rates and a stronger US dollar (USD) could pressure gold prices. Gold traders will be watching for the first report of the US Michigan Consumer Sentiment Index for May, along with speeches from the Fed's Bowman, Goolsbee and Barr. Next week, the US Consumer Price Index (CPI) report will be in the spotlight.Trade activeTrade activeComment:

Hello dear traders! Overall, gold experienced significant volatility yesterday with price gains surpassing $2,328 in a wedge pattern continuing the technical uptrend. It is currently trading at a new high of $2,353, marking a 0.2% gain on the day. So what are the reasons and factors driving gold? Speaking of impact factors, we must mention: Gold prices fluctuated mixed in the afternoon session on Thursday (May 9) while traders waited for US economic data to get more clues about the future. interest rate roadmap of the US Federal Reserve (Fed). “Markets in general are very quiet today and not only are we on holiday in most of Europe but economic reports are also quite light this week and that is reflected in gold prices not moving much.” It is expected that in the near future, gold's long-term uptrend will continue. CPI figures from the US next week could boost gold. If the market sees more evidence of a softening economic picture in the US, that would be helpful for gold. It is expected that this price increase will reach the 2500 USD mark.Trade activeComment: XAU/USD accelerated its recovery on Friday, as investors drop the USD. Dismal US employment-related figures revived hopes for a soon-to-come rate cut from the Fed.Comment: 2372Trade activeComment:Comment: Gold is still gathering liquidityComment:

Hello all dear traders! Today, gold price touched 2310 USD, continuing to recover in the corrective trend and increased 0.09% during the day. Uncertainty amid rising US bond yields and a strong US dollar kept gold unchanged from yesterday's session. From the 4-hour chart, technically gold is completing a Falling Wedge pattern. In such a scenario, I would expect Gold to target $2300 as its first target and the $2274 - $2250 support zone at least.Trade activeTrade active

Hello all of you! XAUUSD is still falling amid a strengthening dollar and falling US Treasury yields. Scarce economic data in the United States will keep investors focused on Federal Reserve officials in the week following last Friday's US jobs report. In the mentioned chart, technical indicators are still negative, But! The price wave is still forming in a wedge bound below the $2,328 resistance. In theory, the price will break the resistance and take distribution in the medium term. This generally reflects a lack of purchasing power at the present time. Looking ahead and according to the 4-hour chart, XAU/USD is neutral. XAUUSD is still reacting to EMA 34.89. Overall, risks are tilted to the downside, although limited by lack of demand for the US Dollar. Support level: 2,310.40 2,291.20 2,276.50 Resistance: 2,326.50 2,340.15 2,356.90 Fundamentally and technically, the coin has an interesting potential, the realization of which could continue with a breakout of $2328.Trade activeTrade active

Hello dear traders! Looking back at yesterday's trading session, gold has demonstrated its strength continuously after a series of 5 weeks of recovery, but in general, investor psychology still maintains optimism towards precious metals. The technical chart shows gold exiting the downtrend, which is an impressive move by the bulls as they not only successfully defended the 2310 support level but also maintained the $2300 gain for now. From the 4-hour chart, we can see that the general market trend continued to change, then the market moved into the phase of realization of the 25 USD bullish distribution since the new week's session changed. The $2328 resistance area continues to hold, but with the price compressed and gradually approaching a growing volume base, sellers have less and less chance to hold the resistance area. A break of the mentioned resistance line will trigger a realization and distribution phase, which will give us upside momentum with a target of $2350 - $2360.Trade activeTrade activeComment:

Hello all dear traders! Currently, gold price is fluctuating around 2301 USD unchanged compared to yesterday's trading session, continuing to stabilize its strength above 2300 USD. In general, in the short term, the fact that the US Federal Reserve (FED) has not lowered interest rates will reinforce the appreciation of the USD, thereby causing gold to more or less suffer certain pressures. Besides, the US job market report released yesterday was weaker than expected and did not provide a boost to this precious metal. Looking at the latest news last week: we can see that new data shows that inflation in the US is still stubbornly high. The movement of gold prices will depend on confidence in risky assets and buying activity Technical: Holding steady above the $2,300 support represents significant gains, however overcoming the $2,328 descending channel resistance remains a challenge and a target. Fundamentally and technically the market is showing weakness so we can expect a bearish scenario for now, after a retest of the 34.89 EMA levels and a retest of the trend channel.Trade active

Hello all dear traders! Gold prices struggle to gain any meaningful traction and trade within a tight channel near $2,300. The Fed is less hawkish outlook dragged the USD to a multi-week low and supported XAU/USD ahead of key US NFP data. In the current context, the possibility of price increase is possible but it is unlikely to last long as it approaches the channel resistance level before falling further technically. And you, do you expect a correction wave of XAUUSD? Personally, I still appreciate the medium-term down trend.Trade activeComment: 300 pips from the buy zone as widely expected following bad news for the dollarComment: The resistance continues to hold in the falling price channelTrade activeComment: