GOLD → Aggressive buyers... Ahead of PPI

12 ก.ย.

XAUUSD is testing 2500 on the background of CPI data. Bulls actively continue to hold a strong support zone. An ascending triangle is being formed, the target of which is to break the resistance and rise.



After the release of CPI data in the US, the focus shifts to PPI and jobless claims data, which will give a new impetus to trading.
The CPI data has slightly cooled the increased bets on an excessive interest rate cut by the Fed next week. Despite the pullback, the gold price managed to defend a critical short-term support level around 2500 - 2505, keeping it in a three-week consolidated range.
Technically, the focus is on the SMAs, which are actively supporting the market, as well as the liquidity area of 2510, 2500, which the market may test once again on news before heading upwards.

Resistance levels: 2530
Support levels: SMA, 2510, 2500

The news may shake the market once again. Strong news may motivate the market to break resistance, but surprising PPI and Initial Jobless Claims data may trigger another sell-off attempt (to liquidity zones) before the price continues its rise. The market continues to focus on testing 2530

Rate, share your opinion and questions, let's discuss what's going on with ★ XAUUSD ;)

Regards R. Linda!

12 ก.ย.

ปิดการเทรด: ถึงเป้าหมายการทำกำไร

+365 pips!
We can close some and hold positions up to 2575 - 2600.

12 ก.ย.

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Gold closes the afternoon session very promising.
The movement may continue...

13 ก.ย.

บันทึกช่วยจำ

We are close to reaching the ultimate goal.
It is necessary to observe the reaction at 2575. Either the price will go even higher, to 2600, or it will form some intermediate maximum and may give a small rebound. In this case a sideways flat (consolidation) may be formed.

13 ก.ย.

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Emphasis on 2550 - 2575 - 2600

13 ก.ย.

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! UPDATE !



GOLD updates its historical high to 2573 on the back of PPI. (On the stock exchanges, the price of gold was at 2600). A small stop is forming locally. There is a probability of growth continuation in the US session...

Disappointing data from the U.S. on Thursday returned bets on a sharp reduction in interest rates of the Federal Reserve at the September meeting. This had a favorable impact on gold. Today there is no news, so the same background reigns on the market.
Also we should not forget about Asia, where traders reacted positively to the optimism associated with the resumption of the Fed's dovish stance.
But, one should be careful as traders may go on the defense and start taking profits ahead of strong news: Retail Sales, CPI, FOMC, Fed Interest Rate Decision in fear of catching ambiguous data. It is possible that gold could be hit by a shakeout, where price could test support before starting to move back towards ATH!

Resistance levels: 2571, 2575
Support levels: 2563, 2559, 2552, 2550

A local false breakout is forming, which could lead to a retest of support. There are no clear zones, so it is worth paying attention to the local ones, which I have marked on the chart. But, if the price starts to smoothly return to 2571 and test the resistance, the chance for continuation of the movement will increase.

Regards R. Linda!

13 ก.ย.

ปิดการเทรด: ถึงเป้าหมายการทำกำไร

target 2575 reached!
+ 620 pips!

14 ก.ย.

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15 ก.ย.

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! UPDATE !



GOLD updates the high to 2586, forming a local resistance, which acts as some trigger zone for the continuation of growth. But, Friday's close is neutral, which may influence a correction to support before the news.

There is a lot of news in the coming week: Core Retail Sales, CPI, FOMC, FED,... The focus is on Fed Interest Rfte Decision, where officials have to decide on whether to cut interest rates in the US. From a global perspective this is a bullish scenario for gold, but it depends on whether the rate will be cut by 25 basis points or 50, the former could upset investors....
The dollar is testing a strong support and is one step away from entering a new range of 100.6 - 94.6. Quite a wide channel, now imagine the potential of the markets, with the index falling so much.

Resistance levels: 2586, 2600
Support levels: 2572, 2563, 2550

In anticipation of the news, traders may go into a phase of profit taking, which may form a small correction in gold (It is also the interest of whales, to cheapen before the growth...).
- A break of resistance will be a trigger for the continuation of growth.
- From the support there can be either a false breakdown or a continuation of the fall to the next zone

Regards R. Linda!

16 ก.ย.

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