We are Coming to UAE...from Sagaah Elite Management

24 Aug 2024, 21:27 · Views 164

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📊 US Economic Data Recap – July Durable Goods Orders 🔹 Durable Goods Orders (MoM): -2.8% (better than forecast -3.8%, prev. -9.3%) 🔹 Core Durable Goods Orders (MoM): +1.1% (forecast 0.2%, prev. 0.3%) 🔹 Durables Excluding Defense (MoM): -2.5% (forecast -3.6%, prev. -9.5%) 🔹 Non-Defense Goods Orders ex-Air (MoM): +1.1% (forecast 0.3%, prev. -0.6%) 📢 FOMC Member Barkin Speaks Later – could add more market volatility. 💡 Takeaway: Core numbers showed strength 💪 while headline data still reflects weakness. Market focus now shifts to Fed commentary. #USD #forex #trading #economicdata #FOMC #durablegoods

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Bullish Counterattack Candlestick Pattern A bullish counterattack signals that buyers have fought back after a strong sell-off. 🔹 How it forms: 1️⃣ First candle: Bearish (strong selling pressure) 2️⃣ Second candle: Bullish, opens lower but closes right at the previous candle’s close. 💡 What it means: ⚔️ Buyers step in and counter sellers, hinting at a potential trend reversal. 📈 Tip: Always confirm with other signals (support/resistance or volume) before entering trades. Get detailed video here: https://www.instagram.com/p/DO...

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Gold Gains on Growth Concerns & Fed Cut Bets Gold edges higher in Monday’s early European session, drawing safe-haven demand amid rising global growth worries and renewed speculation over Fed rate cuts. 📊 US economic concerns continue to support bullish flows, even as senators reach a tentative deal to end the government shutdown. 🔔 Eyes on: $4,050 resistance zone US macro data this week Fed policy signals

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🚨XAUUSD after Trade Balance Data Soar once again to $3365 high , with a low hitting just before data release at $3349. What This Means for the US Dollar •✅ Trade deficit narrowed from –$71.7B to –$60.2B •📉 Imports fell sharply (–$12.8B), while exports dipped slightly (–$1.3B) •🟢 This signals improvement in net exports, which can support GDP growth •💵 A smaller deficit typically strengthens the USD, as it reflects better trade dynamics XAUUSD possible Traction Numbers: With the stocks session of this trade balance news effect of US dollar gain strength we will see a fall in gold prices our stops prices are $3340-$3311-$3300 if we see a weak US Dollar after stock sessions we will see a rise in gold prices $3375-$3385 once again and if sustained it will go for $3400 XAUUSD CMP $3366

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Gold Rebounds to $4,000 as Risk-Off Sentiment Returns Gold prices regained traction in Monday’s Asian session, climbing back toward the $4,000 mark as investors shifted back into safe-haven assets. Several macro factors are driving this renewed demand: 🔹 US Government Shutdown Concerns Prolonged uncertainty around the US government shutdown is weighing on market sentiment, prompting a flight to safety. 🔹 Trump’s Latest Comments Remarks from President Trump have added to geopolitical unease, reinforcing the risk-off mood across global markets. 🔹 Weak Chinese PMI Data China’s private Manufacturing PMI came in softer than expected, raising fresh concerns about global growth and fueling demand for defensive assets like gold. 📈 Technically, gold’s bounce near $4,000 could signal a short-term support zone, but traders will be watching for confirmation and follow-through in upcoming sessions. 💡 For market participants, this shift underscores the importance of staying nimble and responsive to macro headlines.

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