Achieving the target increase, highest GOLD of all time

13 thg 9

XAUUSD The increase reached all target levels sent to readers for many weeks and established a new era peak. The uptrend did not change both fundamentally and technically after PPI inflation data was published.
After the European Central Bank announced its monetary policy on Thursday and the United States released relevant macroeconomic data, spot gold prices rose to a record high and are currently maintaining their upward momentum. during the Asian trading session on September 13.

The European Central Bank cut interest rates on Thursday, but President Christine Lagarde downgraded expectations for another rate cut next month, saying the central bank will decide on policy action Next is based on economic data. The Euro has risen stronger than the USD and this is also an unfavorable impact for the USD.

Data released by the U.S. Department of Labor on Thursday showed that initial jobless claims for the week ended September 7 were 230,000, up 2,000 from the previous reporting period and higher than last year. Market expectation is 225,000.
Other data on Thursday showed the US Producer Price Index (PPI) rose 1.7% year-on-year in August, less than the 1.8% expected while core PPI rose 2.4% over the same period last year, also lower than the expected level of 2.5%.
The lower-than-expected PPI inflation data boosted market sentiment with more confidence that the Federal Reserve will cut interest rates significantly next week.

Analysis of technical prospects for XAUUSD
On the daily chart, after gold achieved all of the target increases sent to readers in the multi-week issue at 2,531 – 2,544 USD, it set a new era record and continues to price increase.

In the immediate future, using trend-following Fibonacci extensions shows that the closest target level that gold can aim for is 2,582 USD, the Fibonacci 0.618% price point.

On the other hand, even if gold corrects lower, the losses will be limited by the 0.382% Fibonacci price point of $2,540, or more than $2,531.

However, the trend of gold in the short, medium and long term will still be price increase. As long as gold remains within the price channel, it still has short-term upside prospects with the EMA21 level being noted as key support for the time being.

During the day, the bullish outlook for scum prices will be noticed by the following technical levels.
Support: 2,544 – 2,540 – 2,531USD
Resistance: 2,582 – 2,600 – 2,612USD

SELL XAUUSD PRICE 2591 - 2589⚡️
↠↠ Stoploss 2595

→Take Profit 1 2584
↨
→Take Profit 2 2579

BUY XAUUSD PRICE 2518 - 2520⚡️
↠↠ Stoploss 2514

→Take Profit 1 2525
↨
→Take Profit 2 2530

15 thg 9

Ghi chú

16 thg 9

Ghi chú

Gold price this morning reached 2,579 USD/ounce, down 1.5 USD compared to the previous session but still anchored in the record high price range. Previously, there was a time when the gold price reached 2,586 USD, setting an all-time record

16 thg 9

Ghi chú

Gold has reached a new peak when it exceeded 2,588 USD/ounce.

Gold prices continue to rise and there is no end in sight - especially when central banks are moving to cut interest rates.

16 thg 9

Ghi chú

Gold prices retraced most of the session's upward momentum after hitting a historic peak

Gold prices are currently trading around $2,580 on Monday, after hitting an all-time high of $2,589 during the session. Gold prices have stabilized after strong gains on Thursday and Friday but the overall trend remains bullish.

17 thg 9

Ghi chú

Gold could confirm a breakout and unless anything big happens in other markets, this would be a bullish sign. So far, nothing has happened in the precious metals sector, while DXY is down. This is a bearish factor, but before concluding, let's learn more.