Forwarded from FrankFx Mentorship
Gold price manages to hold above $2,300, though struggles to attract any meaningful buyers. A hawkish shift in the Fed’s interest rate projections acts as a headwind for the XAU/USD. Signs of easing inflation keep hopes alive for a September rate cut and lend some support.
Soft US Producer Price Index (PPI) data also failed to deter US Dollar buyers. The PPI for final demand unexpectedly dropped 0.2% last month after advancing by an unrevised 0.5% in April, the Labor Department's Bureau of Labor Statistics said on Thursday. The market forecast was for a monthly increase of 0.1% in the reported period.
Gold price could find comfort from a pause in the US Dollar resurgence should risk sentiment improve. Also, reports that retail gold demand from Asian consumers is expected to remain robust this year due to geopolitical and macroeconomic uncertainties could induce some dip-buying demand for Gold traders.
Plan to trade on June 14
👨💻 XAUUSD SELL zone 2315 - 2317
🔹SL 2320
🔹TP 2310 - 2305 - 2300
Note : This is technical analysis, not Fundamental Analysis. The market can be affected by war news and economic news, so when deciding to trade, always use stop loss to ensure safety. for your account 😊💸
Wishing you Full TP 💵💵
Soft US Producer Price Index (PPI) data also failed to deter US Dollar buyers. The PPI for final demand unexpectedly dropped 0.2% last month after advancing by an unrevised 0.5% in April, the Labor Department's Bureau of Labor Statistics said on Thursday. The market forecast was for a monthly increase of 0.1% in the reported period.
Gold price could find comfort from a pause in the US Dollar resurgence should risk sentiment improve. Also, reports that retail gold demand from Asian consumers is expected to remain robust this year due to geopolitical and macroeconomic uncertainties could induce some dip-buying demand for Gold traders.
Plan to trade on June 14
👨💻 XAUUSD SELL zone 2315 - 2317
🔹SL 2320
🔹TP 2310 - 2305 - 2300
Note : This is technical analysis, not Fundamental Analysis. The market can be affected by war news and economic news, so when deciding to trade, always use stop loss to ensure safety. for your account 😊💸
Wishing you Full TP 💵💵
Forwarded from FrankFx Mentorship
👨💻 XAUUSD Sell zone 2321-2323
🔹SL 2327
🔹TP 2315-2310-2305-2280
🔹SL 2327
🔹TP 2315-2310-2305-2280
Forwarded from FrankFx Mentorship
Gold price drifts lower on Fed rate jitters, $2,300 mark hold the key for bulls
Gold (XAU/USD) trades marginally higher on Friday, exchanging hands just above the $2,300 mark during the early European session. Asian bourses lacked directionality overnight and mixed signals from the US regarding the future path of interest rates – a key driver for Gold – are doing little to help establish directionality for the precious metal.
Gold has also been left reeling after the People’s Bank of China (PBoC) revealed they had stopped buying the precious metal between the end of April and May. It was the first time in 18-months the PBoC had not added to their Gold reserves and suggested a price cap might have been reached. At the same, analysts at Citibank point to continued strong demand from consumers in China, which they say will push Gold higher.
Thus the overall picture remains mixed for Gold traders as they await the next main data release from the US on Friday, the preliminary Michigan Consumer Sentiment Index for June.
Plan traded on June 17
XAUUSD BUY zone 2317 - 2319
SL 2314
TP 2325 - 2330 - 2340
Note : This is technical analysis, not Fundamental Analysis. The market can be affected by war news and economic news, so when deciding to trade, always use stop loss to ensure safety. for your account
Wishing you Full City
Gold (XAU/USD) trades marginally higher on Friday, exchanging hands just above the $2,300 mark during the early European session. Asian bourses lacked directionality overnight and mixed signals from the US regarding the future path of interest rates – a key driver for Gold – are doing little to help establish directionality for the precious metal.
Gold has also been left reeling after the People’s Bank of China (PBoC) revealed they had stopped buying the precious metal between the end of April and May. It was the first time in 18-months the PBoC had not added to their Gold reserves and suggested a price cap might have been reached. At the same, analysts at Citibank point to continued strong demand from consumers in China, which they say will push Gold higher.
Thus the overall picture remains mixed for Gold traders as they await the next main data release from the US on Friday, the preliminary Michigan Consumer Sentiment Index for June.
Plan traded on June 17
XAUUSD BUY zone 2317 - 2319
SL 2314
TP 2325 - 2330 - 2340
Note : This is technical analysis, not Fundamental Analysis. The market can be affected by war news and economic news, so when deciding to trade, always use stop loss to ensure safety. for your account
Wishing you Full City
Buy again entry zone 2314 - 2315 SL 2312
Note :The 2312 zone is a sensitive zone and if broken, we will find new sell zones at 2308 2305.
Note :The 2312 zone is a sensitive zone and if broken, we will find new sell zones at 2308 2305.
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Forwarded from FrankFx Mentorship
Gold price consolidates in a range around $2,330 area
Gold price is seen consolidating near the top end of a short-term trading range. Fed rate-cut uncertainty holds back traders from placing fresh directional bets. The USD is undermined by Tuesday’s weaker US Retail Sales and lends support.
Looking ahead, Gold price will take cues from the broader market sentiment and the sentiment around the Fed interest rate expectations, in the absence of top-tier macro events and Fedspeak due to a US market holiday.
Plan traded on June 19
👨💻 XAUUSD BUY zone 2323 - 2321
🔹SL 2318
🔹TP 2328 - 2334 - 2340
Note that today is a US bank holiday, so prices may not fluctuate too much today
Gold price is seen consolidating near the top end of a short-term trading range. Fed rate-cut uncertainty holds back traders from placing fresh directional bets. The USD is undermined by Tuesday’s weaker US Retail Sales and lends support.
Looking ahead, Gold price will take cues from the broader market sentiment and the sentiment around the Fed interest rate expectations, in the absence of top-tier macro events and Fedspeak due to a US market holiday.
Plan traded on June 19
👨💻 XAUUSD BUY zone 2323 - 2321
🔹SL 2318
🔹TP 2328 - 2334 - 2340
Note that today is a US bank holiday, so prices may not fluctuate too much today
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