Stay ahead of the cu...from Gurdip Singh

14 Jun 2024, 15:12 · Views 137

Stay ahead of the curve with our economic calendar! Keep track of key market events and data releases in real-time. Never miss an opportunity to optimize your trading strategy. #EconomicCalendar #TradingInsights #StayInformed

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Gurdip Singh

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Business Development Manager At KVB Can find me at WhatsApp : +601131429510

XAU/USD Snapshot Prediction: Decrease Market Insight: Gold prices saw turbulence following Fed Chair Powell's remarks and U.S. job data. Starting near $2337, they dipped to $2320, then rebounded to around $2330. Powell's cautious speech at an ECB event impacted sentiment, despite robust U.S. bond yields. Technical Outlook: Currently trading between $2320 and $2350, gold shows a bearish trend with neutral momentum (RSI near 50). Sellers eye breaking below $2300 towards $2277 support, while buyers look for breakthroughs at $2387 and $2400 above $2350.

Gurdip Singh

Product: XAU/USD Prediction: Decrease Fundamental Analysis: U.S. Producer Price Index rose 0.1%, indicating slower inflation. With key U.S. inflation data due, XAU/USD prices fell after reaching a monthly high. A positive stock market and repositioning ahead of data added pressure on gold. Technical Analysis: Gold is near the $2483 resistance level. Bears may drive the price down to $2360 support. The price is currently range-bound between $2360 and $2483, with potential for further declines if resistance holds.

Gurdip Singh

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: 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

Product: XAU/USD Prediction: Increase Fundamental Analysis: Producer prices surged, yet failed to cool gold's ascent. Gold poised above $2,400 for two weeks; new highs anticipated. Powell's dovish remarks and lower CPI inflation boost gold's momentum. Core inflation at 3.0%, lowest since April 2021, fuels optimism. Technical Analysis: XAU/USD nears $2,450 peak, consolidating since April within $2,280-$2,450. Long-term trend bullish, likely breaking above current range soon

Gurdip Singh