XAUUSD ANALYSIS 26-8-24
🚨XAUUSD (Spot Gold) 🔖 26-8-2024 🚨
Sell at: $2539-$2458-$2579-$2600
Buy at: $2478-$2451-$2432-$2411.
CMP- $2525.15 (as of writing) 📈
⚠️Warning: Do not risk more than 5% of your capital. Trading in gold and other financial markets involves significant risk and may result in substantial losses.
📊💹 Fundamentals that might impact XAUUSD: Date: 26 August 2024 📅
🌟 Gold Surge Accelerates as Fed Hints at Rate Cuts and Middle East Tensions Escalate 🌟
🔥 Escalating Middle East Tensions:
Over the weekend, Israel launched a large-scale pre-emptive strike on Hezbollah positions in Lebanon. In retaliation, Hezbollah unleashed a barrage of missiles and drone strikes targeting northern Israel. Concerns are mounting that Iran 🇮🇷, after weeks of threats, might enter the conflict.
📈 Gold Surges Following Fed Speech:
Gold prices jumped by over 1% on Friday after Federal Reserve Chairman Jerome Powell's speech at the Jackson Hole symposium. Powell provided the clearest signal yet that the Fed might soon cut interest rates.
💼 Concerns Over US Labor Market:
Powell raised concerns that the persistent high interest rates, held at 5.25%-5.50% since July 2023, are beginning to slow down the US labor market. While these rates have been effective in reducing inflation, they are now negatively impacting company hiring.
📉 Impact on US Government Bond Yields:
Following Powell’s speech, US government bond yields, which reflect investor expectations for inflation and interest rates, fell. This decline in yields benefits gold, as it reduces the opportunity cost of holding the non-interest-bearing precious metal.
📊 Technical Analysis:
From a technical perspective, XAU/USD remains in a bullish trend and is edging closer to its next target of $2,550-$2578 For Selling in Moderate and High lots
Trading Strategy: Given the current market dynamics, we suggest the following:
🟢For Potential Rebound:
• Buy Entry Target Range: $2538(TP1) - $2549 (TP2)-$2560(TP3)
🔴For Potential Downtrend:
• Sell Entry Target Range: $2480 (TP1)- $2460 (TP2)- $2440 (TP3)
🔴Technical Status: XAUUSD: 📌
D1 SMA100-P (2357.38) Buy🔺
H4 SMA100-P (2420.14) Buy🔺
H1 SMA100-P (2470.15) Buy🔺
H4 SMA200-P (2485.45) Buy🔺
Sell at: $2539-$2458-$2579-$2600
Buy at: $2478-$2451-$2432-$2411.
CMP- $2525.15 (as of writing) 📈
⚠️Warning: Do not risk more than 5% of your capital. Trading in gold and other financial markets involves significant risk and may result in substantial losses.
📊💹 Fundamentals that might impact XAUUSD: Date: 26 August 2024 📅
🌟 Gold Surge Accelerates as Fed Hints at Rate Cuts and Middle East Tensions Escalate 🌟
🔥 Escalating Middle East Tensions:
Over the weekend, Israel launched a large-scale pre-emptive strike on Hezbollah positions in Lebanon. In retaliation, Hezbollah unleashed a barrage of missiles and drone strikes targeting northern Israel. Concerns are mounting that Iran 🇮🇷, after weeks of threats, might enter the conflict.
📈 Gold Surges Following Fed Speech:
Gold prices jumped by over 1% on Friday after Federal Reserve Chairman Jerome Powell's speech at the Jackson Hole symposium. Powell provided the clearest signal yet that the Fed might soon cut interest rates.
💼 Concerns Over US Labor Market:
Powell raised concerns that the persistent high interest rates, held at 5.25%-5.50% since July 2023, are beginning to slow down the US labor market. While these rates have been effective in reducing inflation, they are now negatively impacting company hiring.
📉 Impact on US Government Bond Yields:
Following Powell’s speech, US government bond yields, which reflect investor expectations for inflation and interest rates, fell. This decline in yields benefits gold, as it reduces the opportunity cost of holding the non-interest-bearing precious metal.
📊 Technical Analysis:
From a technical perspective, XAU/USD remains in a bullish trend and is edging closer to its next target of $2,550-$2578 For Selling in Moderate and High lots
Trading Strategy: Given the current market dynamics, we suggest the following:
🟢For Potential Rebound:
• Buy Entry Target Range: $2538(TP1) - $2549 (TP2)-$2560(TP3)
🔴For Potential Downtrend:
• Sell Entry Target Range: $2480 (TP1)- $2460 (TP2)- $2440 (TP3)
🔴Technical Status: XAUUSD: 📌
D1 SMA100-P (2357.38) Buy🔺
H4 SMA100-P (2420.14) Buy🔺
H1 SMA100-P (2470.15) Buy🔺
H4 SMA200-P (2485.45) Buy🔺
Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.
Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.