Gold

[Version2]

Gold Trades on Bullish Footing – Weaker Dollar Underpins

Gold prices closed at $1495.60 after placing a high of $1496.55 and a low of $1481.11. The overall movement of Gold remained bullish that day. On Wednesday at 17:15 GMT, the closely watched ADP Non-Farm Employment Change from the United States came in as expected at 125K.

At 17:30 GMT, the Advance Quarterly GDP of the US showed growth at 1.9% against the expectations of 1.6%. The GDP price index came in at 1.7% against the expectations of 1.8%. Overall the macroeconomic data was in favor of the US Dollar on Wednesday, and Gold prices fell in the early session ahead of the FOMC meeting and its decision about interest rates.

On Wednesday at 23:00 GMT, the Federal Reserve announced the third rate cut for this year by 25 basis points. Although the decision was highly expected in the market, Federal Reserve also signaled that it would now pause its rate reductions.


The US Dollar Index suddenly climbed to a high of 97.8 after the announcement of a rate cut by 25 basis points from the Federal Reserve. The increase in US Dollar weighed on the yellow metal prices.

However, traders adjusted to the news of hawkish Cut by fed and started buying Gold after realizing the negative effect of a rate cut on the US dollar. Gold has been moving in a bearish trend for two days amid the optimism raised after US-China partial deal and Brexit extension grant. But on Wednesday it showed a bullish trend after the third rate cut by the Fed.


XAU/USD – Technical Levels

Support Resistance

1485.63 1501.21

1475.6 1506.77

1460.02 1522.36

Key Trading Level: 1491.19


The precious metal gold has already violated the triple top resistance level of 1,494. Closing of hourly candles above 1,494 confirms the violation of the level, and technically, Gold should continue to trade bullish until 1,503 and 1,507. In case, Gold decides to trade bearish, the very first hurdle on the lower side is likely to be at 1,494 where the bearish breakout can extend sell-off until 1,483 area.

[Version2]

Gold Trades Bullish, Safe Haven Appeal Boosted on Weak China PMI Data

On Thursday, gold is trading higher following the Fed’s decision to cut interest rates by 0.25% which has driven weakness in the US dollar, further boosting the precious metal’s appeal. At the time of writing, GOLD is trading at a little above $1,497.

Fed announced the third rate cut for 2019, as markets were widely expecting, but also cautioned that it would be pausing plans to reduce interest rates further for some time. Gold made some early gains but slid lower after Fed Chair Powell’s press conference where he stated that the US economy was in a good place and that the current monetary policy was adequate to keep it healthy.

The safe haven appeal of gold was boosted early in today’s session after PMI data from China revealed further slowdown in both factory activity and the services sector. Uncertainty around the signing of the “Phase 1” trade deal reigns once again in markets after the APEC summit due to take place in mid-November was cancelled due to violent protests in Chile. Gold is likely to trade bullish until the US and China offer updates on the likely date when the interim trade agreement will be signed.

[hania]

gold>>>

In my observation the profitable next selling point will be 1505

and by my mind the profitable next buy point will be 1486..

I think that the successful key points for selling and buying for this pairs.

You will earn more money if you will follow my views,
because i have posted this after checking the previous routine of daily time frame of H1,H4 clearly.

simply moving on parabolic levels.

[Asad468]

elliott extends flat correction up 1.5438 at the moment the uptrend could end around 1.5365 - 1.5393 the correction area below 1.5296 is expected that a rise above 1.5434 will cancel
expected...

[JF2019]

Gold

Trend is : Buy


1# Resistance 1503
2# Resistance 1515
3# Resistance 1519

1# Supporting 1499
2# Supporting 1499
3# Supporting 1487

[Furqan1212]

gold upor jayega. h4 trend ke mutabik maine ye faisala li he ki abhi gold buy karna he. bold buy at 1613.17 and tp hoga 1618.99 ya usse kuch kam . and sl dene ka jarurat nehi agar aapke paas huge balance ho.

[Imo]

Gold is bullish

& Resistance level 1501
&Resistance level 1515
&Resistance level 1517

&Supporting level 1499
&Supporting level 1493
&Supporting level 1487

[Apple99]

31st October 2019


( Pair is :-Gold)

Trend is : Buy


1>Resistance>)1503
2>Resistance>)1515
3>Resistance>)1519

1>Supporting>)1498
2>Supporting>)1491
3>Supporting>)1486

[ankur]

Hi
Daily analysis for 31st October 2019

Today's market trend: Sell/Bearish

kal ki downward movement ko market continue kar skta hai kyuki market meh kafi downtrend tha kal or sellers kafi control me the ,
halaki price abhi ek resistance level pe hai us resistance ko market ache se test karega agar ye level break hota hai toh pakka strong down
price support 1 level par bhi ja sakta hai agar aisa hua to wo upward jaiga thodi der ke liye, lekin low point choone ke baad wapas aa sakta hai,
phir price downward jayega to is time par sell karna chahiye

time frame support and resistance levels : Daily and Weekly,
indicators: Bollinger Bands and fibbo.

[Sarfrazsagar]

Currency pair hai Gold

Market Trend Buy hai.

1: Resistance Level is:> 1492

2: Resistance Level is:> 1494

3: Resistance Level is:> 1499


1: Supporting Level is:> 1485

2: Supporting Level is:> 1481

3: Supporting Level is:> 1478