XAU/USD Update: Bear...Gurdip Singh님의 글

XAU/USD Update: Bearish Trend Ahead? Prediction: Increase Fundamental Analysis: XAU/USD continues to dip, trading around $2,380 as market panic subsides. Stock markets are rebounding, reducing gold’s appeal, while US bond yields rise, strengthening the US Dollar. Despite concerns about the US economy, expectations for significant interest rate cuts persist. Technical Analysis: Gold is testing the 50% Fibonacci retracement of its June/July rally at $2,388.70, with technical indicators suggesting a bearish outlook. Recent support around $2,411.20 may weaken, while the 4-hour chart shows stronger bearish signals. Support Levels: 2,372.90, 2,366.00, 2,352.40 Resistance Levels: 2,411.20, 2,424.10, 2,438.80 For detailed insights, click the link: https://shorturl.at/Fwn9p

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XAU/USD Market Snapshot Prediction: Decrease Fundamentals: - U.S. ISM Manufacturing PMI dropped to 48.5 in June, below expectations of 49.1. - Employment index fell to 49.3 from 51.1, reflecting weakening manufacturing activity. - Dollar initially weakened but strengthened post-Supreme Court ruling favoring Trump. - Focus shifts to upcoming U.S. job data for Federal Reserve rate cut signals. Technicals: - Gold prices resilient near $2300 despite rising U.S. bond yields. - Break above $2337 (50-day MA) could push towards $2390-$2400. - Facing resistance near $2339.21 (55-day MA); watch support at $2323.29 (5-day MA). - Medium-term trend watch between $2291.65-$2368.72 range.

Gurdip Singh

Product: XAU/USD Prediction: Increase Fundamental Analysis: - This week, all eyes are on the U.S. economic calendar, packed with crucial data releases. - Speculation about potential U.S. interest rate cuts has bolstered the dollar while pushing down Treasury yields. - Gold prices have surged past $2,400 following a recent slump, driven by market reactions to economic indicators. - India's decision to slash gold and silver import taxes from 15% to 6% has ignited optimism, potentially boosting global gold demand. - Analysts believe this move could spur consumer interest and combat illegal trading activities in India's gold market. Technical Analysis: - After a recent stabilization, gold prices are showing promising signs of an upward trend. - The Relative Strength Index (RSI) indicates bullish momentum, suggesting growing buying pressure. - Key resistance levels to watch include $2,412, $2,450, with potential to challenge the all-time high near $2,483. - On the downside, $2,384 marks a critical support level, followed by the 50-day Simple Moving Average (SMA) at $2,359.

Gurdip Singh

Product: XAU/USD Prediction: Increase Fundamental Analysis: Gold prices are near a recent low due to improved global risk sentiment. US dollar strength persists despite political uncertainties. Investors await key US economic data for further direction. Technical Analysis: Daily chart: XAU/USD holding above 20-day SMA, suggesting correction may end soon. 4-hour chart: Bearish trend persists below 20-SMA, indicating ongoing selling pressure. Overall Outlook: Short-term outlook remains cautious due to bearish signals on the 4-hour chart. Long-term bullish bias supported by daily chart indicators and SMA levels.

Gurdip Singh