Piyush Lalsingh Ratnu
- Trader & Analyst in Piyush Ratnu XAUUSD Spot Gold Research
- Vereinigte Arabische Emirate
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Piyush Ratnu is an independent forex market analyst & trader with core expertise in XAUUSD/Spot Gold.
With more than 15 years of experience as a Financial Market Analyst, Piyush Ratnu held the responsibility of developing and refining a series of algorithms & analytic tools to simplify the trading processes. His tools and algorithms were defined and rated as “unlike tools seen in the market before, extensively designed and most importantly, functional and logical” by some of the top financial companies and analysts at New York, London and Dubai.
Piyush Ratnu holds an experience of 290,000 trades, 1,790,000 pips calculated with a remarkable trading execution rate of 2 trades per second in an ideal scenario with profit booking in less than 8 seconds tracing 60+ pips/trade, as per audited and verified track record of last 10 years.
Core strength:
Economics, Economic Data Analysis, Spot Gold (XAUUSD), USD Majors, SR MTF Range Trading, Chart Patterns,
Volume Trading, Day Trading & Position Trading
Trading style
Fundamental based Intra-day trading.
Analysis based on proprietary algorithm + 90+ parameters.
Core focus: US Futures and XAUUSD | Spot Gold
Motto
Plan your trade, and then trade your plan!
Detailed research: https://www.reddit.com/r/prgoldanalysis
Track Record since 2021: https://bit.ly/PRxauusdAnalysis
MyFxBook:
X.com: https://x.com/piyushratnu
Insta: https://www.instagram.com/piyushratnuofficial
Connect for more details:
Telegram: https://www.T.me/PiyushRatnuOfficial
Risk Disclaimer:
Trading in foreign exchange (“Forex”) on margins entails high risk and is not suitable for all investors. Past performance is not an indication of future results. In this case, as well, the high degree of leverage can act both against you and for you. Trading foreign exchange, indices and commodities, on margin, carries a high level of risk and may not be suitable for all individuals.
The information made available by Piyush Ratnu is for your general information only and is not intended to address your particular requirements. In particular, the information does not constitute any form of advice or recommendation and is not intended to be relied upon by users in making, or refraining from making, any investment decisions.
Piyush Ratnu does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position(s) of Piyush Ratnu.
With more than 15 years of experience as a Financial Market Analyst, Piyush Ratnu held the responsibility of developing and refining a series of algorithms & analytic tools to simplify the trading processes. His tools and algorithms were defined and rated as “unlike tools seen in the market before, extensively designed and most importantly, functional and logical” by some of the top financial companies and analysts at New York, London and Dubai.
Piyush Ratnu holds an experience of 290,000 trades, 1,790,000 pips calculated with a remarkable trading execution rate of 2 trades per second in an ideal scenario with profit booking in less than 8 seconds tracing 60+ pips/trade, as per audited and verified track record of last 10 years.
Core strength:
Economics, Economic Data Analysis, Spot Gold (XAUUSD), USD Majors, SR MTF Range Trading, Chart Patterns,
Volume Trading, Day Trading & Position Trading
Trading style
Fundamental based Intra-day trading.
Analysis based on proprietary algorithm + 90+ parameters.
Core focus: US Futures and XAUUSD | Spot Gold
Motto
Plan your trade, and then trade your plan!
Detailed research: https://www.reddit.com/r/prgoldanalysis
Track Record since 2021: https://bit.ly/PRxauusdAnalysis
MyFxBook:
X.com: https://x.com/piyushratnu
Insta: https://www.instagram.com/piyushratnuofficial
Connect for more details:
Telegram: https://www.T.me/PiyushRatnuOfficial
Risk Disclaimer:
Trading in foreign exchange (“Forex”) on margins entails high risk and is not suitable for all investors. Past performance is not an indication of future results. In this case, as well, the high degree of leverage can act both against you and for you. Trading foreign exchange, indices and commodities, on margin, carries a high level of risk and may not be suitable for all individuals.
The information made available by Piyush Ratnu is for your general information only and is not intended to address your particular requirements. In particular, the information does not constitute any form of advice or recommendation and is not intended to be relied upon by users in making, or refraining from making, any investment decisions.
Piyush Ratnu does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position(s) of Piyush Ratnu.
Piyush Lalsingh Ratnu
24.11.2023 | XAUUSD : Price Forecast | XAUUSD Analysis | Daily Price Projection | Spot Gold Analysis by Piyush Ratnu
Subscribe to our Telegram channel to receive live analysis without delay
Subscribe to our Telegram channel to receive live analysis without delay
Piyush Lalsingh Ratnu
🔘Gold price struggles to gain any meaningful traction on the last day of the week.
🔘 A pickup in US bond yields acts as a headwind for the XAU/USD.
🔘The Fed rates uncertainty and a softer risk tone lend some support to the metal.
Gold price (XAU/USD) struggles to capitalize on the previous day's modest gains and oscillates in a narrow trading band, below the $2,000 psychological mark through the first half of the European session. Investors now seem reluctant to place aggressive directional bets and are seeking more clarity over the Federal Reserve's (Fed) rate-hike path.
The FOMC minutes released on Tuesday struck a more hawkish tone. Adding to this, Wednesday's upbeat US labor market and consumer sentiment data fueled speculations that the Fed will keep interest rates higher for longer. This, along with a goodish pickup in the US Treasury bond yields, turns out to be a key factor acting as a headwind for the non-yielding Gold price on the last day of the week.
⚠️ Daily XAUUSD Market Price Movers:
• A combination of diverging forces fails to provide any meaningful impetus to the Gold price and leads to a subdued/range-bound price action during the Asian session on Friday.
• A disconnect between the Federal Reserve's hawkish outlook and market expectations for rate cuts in 2024 is holding back traders from placing directional bets around the XAU/USD.
• The FOMC meeting minutes released on Tuesday revealed that policymakers backed the case to keep interest rates higher for longer to tame inflation.
• Bets for a rate hike in December shrunk to zero following the release of the October inflation report. Moreover, the markets are pricing over a 25% chance of a rate cut as early as March 2024.
• Wednesday's upbeat US labor market and consumer sentiment data, along with rebounding US Treasury bond yields, lend support to the USD and cap gains for the precious metal.
• Dovish Fed expectations, meanwhile, warrant some caution for the USD bulls and might continue to lend some support to the commodity ahead of the flash US PMI prints for November.
🔘 A pickup in US bond yields acts as a headwind for the XAU/USD.
🔘The Fed rates uncertainty and a softer risk tone lend some support to the metal.
Gold price (XAU/USD) struggles to capitalize on the previous day's modest gains and oscillates in a narrow trading band, below the $2,000 psychological mark through the first half of the European session. Investors now seem reluctant to place aggressive directional bets and are seeking more clarity over the Federal Reserve's (Fed) rate-hike path.
The FOMC minutes released on Tuesday struck a more hawkish tone. Adding to this, Wednesday's upbeat US labor market and consumer sentiment data fueled speculations that the Fed will keep interest rates higher for longer. This, along with a goodish pickup in the US Treasury bond yields, turns out to be a key factor acting as a headwind for the non-yielding Gold price on the last day of the week.
⚠️ Daily XAUUSD Market Price Movers:
• A combination of diverging forces fails to provide any meaningful impetus to the Gold price and leads to a subdued/range-bound price action during the Asian session on Friday.
• A disconnect between the Federal Reserve's hawkish outlook and market expectations for rate cuts in 2024 is holding back traders from placing directional bets around the XAU/USD.
• The FOMC meeting minutes released on Tuesday revealed that policymakers backed the case to keep interest rates higher for longer to tame inflation.
• Bets for a rate hike in December shrunk to zero following the release of the October inflation report. Moreover, the markets are pricing over a 25% chance of a rate cut as early as March 2024.
• Wednesday's upbeat US labor market and consumer sentiment data, along with rebounding US Treasury bond yields, lend support to the USD and cap gains for the precious metal.
• Dovish Fed expectations, meanwhile, warrant some caution for the USD bulls and might continue to lend some support to the commodity ahead of the flash US PMI prints for November.
Piyush Lalsingh Ratnu
🆘RISK SENTIMENT FAQS
🔘 What do the terms"risk-on" and "risk-off" mean when referring to sentiment in financial markets?
In the world of financial jargon the two widely used terms “risk-on” and “risk off'' refer to the level of risk that investors are willing to stomach during the period referenced. In a “risk-on” market, investors are optimistic about the future and more willing to buy risky assets. In a “risk-off” market investors start to ‘play it safe’ because they are worried about the future, and therefore buy less risky assets that are more certain of bringing a return, even if it is relatively modest.
🔘 What are the key assets to track to understand risk sentiment dynamics?
Which currencies strengthen when sentiment is "risk-on"?
The Australian Dollar (AUD), the Canadian Dollar (CAD), the New Zealand Dollar (NZD) and minor FX like the Ruble (RUB) and the South African Rand (ZAR), all tend to rise in markets that are “risk-on”. This is because the economies of these currencies are heavily reliant on commodity exports for growth, and commodities tend to rise in price during risk-on periods. This is because investors foresee greater demand for raw materials in the future due to heightened economic activity.
🔘Which currencies strengthen when sentiment is "risk-off"?
The major currencies that tend to rise during periods of “risk-off” are the US Dollar (USD), the Japanese Yen (JPY) and the Swiss Franc (CHF). The US Dollar, because it is the world’s reserve currency, and because in times of crisis investors buy US government debt, which is seen as safe because the largest economy in the world is unlikely to default. The Yen, from increased demand for Japanese government bonds, because a high proportion are held by domestic investors who are unlikely to dump them – even in a crisis. The Swiss Franc, because strict Swiss banking laws offer investors enhanced capital protection.
🔘 What do the terms"risk-on" and "risk-off" mean when referring to sentiment in financial markets?
In the world of financial jargon the two widely used terms “risk-on” and “risk off'' refer to the level of risk that investors are willing to stomach during the period referenced. In a “risk-on” market, investors are optimistic about the future and more willing to buy risky assets. In a “risk-off” market investors start to ‘play it safe’ because they are worried about the future, and therefore buy less risky assets that are more certain of bringing a return, even if it is relatively modest.
🔘 What are the key assets to track to understand risk sentiment dynamics?
Which currencies strengthen when sentiment is "risk-on"?
The Australian Dollar (AUD), the Canadian Dollar (CAD), the New Zealand Dollar (NZD) and minor FX like the Ruble (RUB) and the South African Rand (ZAR), all tend to rise in markets that are “risk-on”. This is because the economies of these currencies are heavily reliant on commodity exports for growth, and commodities tend to rise in price during risk-on periods. This is because investors foresee greater demand for raw materials in the future due to heightened economic activity.
🔘Which currencies strengthen when sentiment is "risk-off"?
The major currencies that tend to rise during periods of “risk-off” are the US Dollar (USD), the Japanese Yen (JPY) and the Swiss Franc (CHF). The US Dollar, because it is the world’s reserve currency, and because in times of crisis investors buy US government debt, which is seen as safe because the largest economy in the world is unlikely to default. The Yen, from increased demand for Japanese government bonds, because a high proportion are held by domestic investors who are unlikely to dump them – even in a crisis. The Swiss Franc, because strict Swiss banking laws offer investors enhanced capital protection.
Piyush Lalsingh Ratnu
23.11.2023 | XAUUSD : Price Forecast | XAUUSD Analysis | Daily Price Projection | Spot Gold Analysis by Piyush Ratnu
Subscribe to our Telegram channel to receive live analysis without delay
Subscribe to our Telegram channel to receive live analysis without delay
Piyush Lalsingh Ratnu
22.11.2023 | XAUUSD : Price Forecast | XAUUSD Analysis | Daily Price Projection | Spot Gold Analysis by Piyush Ratnu
Subscribe to our Telegram channel to receive live analysis without delay
Subscribe to our Telegram channel to receive live analysis without delay
Piyush Lalsingh Ratnu
🟢 18.30 hours today: Market Mover
18:30 JPY CPI, n.s.a (MoM) (Oct) 0.3%
18:30 JPY National Core CPI (YoY) (Oct) 3.0% 2.8%
18:30 JPY National CPI (YoY) (Oct) 3.0%
18:50 JPY Foreign Bonds Buying -68.2B
18:50 JPY Foreign Investments in Japanese Stocks 388.4B
🟢 Thursday, November 23, 2023: HOLIDAY
All Day Holiday United States - Thanksgiving Day
All Day Holiday Japan - Workers Day
Price trap as a result of Low volumes might be faced.
Avoid big lots, pile ups.
18:30 JPY CPI, n.s.a (MoM) (Oct) 0.3%
18:30 JPY National Core CPI (YoY) (Oct) 3.0% 2.8%
18:30 JPY National CPI (YoY) (Oct) 3.0%
18:50 JPY Foreign Bonds Buying -68.2B
18:50 JPY Foreign Investments in Japanese Stocks 388.4B
🟢 Thursday, November 23, 2023: HOLIDAY
All Day Holiday United States - Thanksgiving Day
All Day Holiday Japan - Workers Day
Price trap as a result of Low volumes might be faced.
Avoid big lots, pile ups.
Piyush Lalsingh Ratnu
🟢 Strong Support H1AS5 ahead | rising USDJPY indicates -XAUUSD (1990/1985 zone) in next 30 minutes, reversal/retracement might result in $2009/2019 zone: Strong resistance zone.
Piyush Lalsingh Ratnu
22.11.2023 | XAUUSD : Correlation based projections | XAUUSD Analysis | Daily Price Projection | Spot Gold Analysis by Piyush Ratnu
Piyush Lalsingh Ratnu
ALERT: Market reversal in process:
🍎 USDJPY + 2000 pips
🟢 Pending impact on XAUUSD: - $60
🟢 Target: expect price zone: $1985/1966/1947
H1A100 H4A100 on radar | I will HOLD SHORT Trades 🆘
💠Expected Date Frame: 12.12.2023
🍎 USDJPY + 2000 pips
🟢 Pending impact on XAUUSD: - $60
🟢 Target: expect price zone: $1985/1966/1947
H1A100 H4A100 on radar | I will HOLD SHORT Trades 🆘
💠Expected Date Frame: 12.12.2023
Piyush Lalsingh Ratnu
🟢Daily XAUUSD Market Price Movers:
✔️ The minutes from the Federal Reserve's latest meeting revealed officials backing higher for longer interest rates for some time to tame inflation and underpin the US Dollar.
✔️ Market participants, however, seem convinced that the US central bank will keep rates steady rather than hiking and are pricing in the possibility of rate cuts by spring 2024.
✔️ The benchmark 10-year US Treasury bond yield languishes near a two-month low and turns out to be a key factor driving some flows towards the non-yielding yellow metal.
✔️ The National Association of Realtors reported that US Existing Home Sales fell in October to a seasonally adjusted annual rate of 3.79 million units or the lowest level in more than 13 years.
✔️ Israel and Hamas have agreed to a deal for the staggered release of 50 civilians held hostage in Gaza in exchange for Palestinian prisoners and a four-day halt to hostilities.
✔️ The US military conducted discrete, precision strikes against two Iran-backed facilities in Iraq in response to the attacks against US and Coalition forces by Iran and Iran-backed groups.
✔️ The markets reacted little to the latest development as there hasn't been any major escalation in the Middle East tensions, doing little to influence the safe-haven precious metal.
✔️ Traders now look to the US macro data – Initial Weekly Jobless Claims, Durable Goods Orders and revised Michigan Consumer Sentiment Index – for short-term impetus.
✔️ The minutes from the Federal Reserve's latest meeting revealed officials backing higher for longer interest rates for some time to tame inflation and underpin the US Dollar.
✔️ Market participants, however, seem convinced that the US central bank will keep rates steady rather than hiking and are pricing in the possibility of rate cuts by spring 2024.
✔️ The benchmark 10-year US Treasury bond yield languishes near a two-month low and turns out to be a key factor driving some flows towards the non-yielding yellow metal.
✔️ The National Association of Realtors reported that US Existing Home Sales fell in October to a seasonally adjusted annual rate of 3.79 million units or the lowest level in more than 13 years.
✔️ Israel and Hamas have agreed to a deal for the staggered release of 50 civilians held hostage in Gaza in exchange for Palestinian prisoners and a four-day halt to hostilities.
✔️ The US military conducted discrete, precision strikes against two Iran-backed facilities in Iraq in response to the attacks against US and Coalition forces by Iran and Iran-backed groups.
✔️ The markets reacted little to the latest development as there hasn't been any major escalation in the Middle East tensions, doing little to influence the safe-haven precious metal.
✔️ Traders now look to the US macro data – Initial Weekly Jobless Claims, Durable Goods Orders and revised Michigan Consumer Sentiment Index – for short-term impetus.
Piyush Lalsingh Ratnu
Stocks are still rocking and rolling in what’s been a strong month so far. The Dow closed about 200 points higher Monday, while the S&P 500 and the Nasdaq are on five-day winning streaks.
Treasury yields have come down a bit, with hopes that the Federal Reserve is easing off its inflation-fighting rate-hiking initiative.
We’ll hear more about what the Fed’s thinking about inflation and the state of the economy with the central bank set to release the minutes from its last policy-setting meeting. 23.00 hours | Today ♾
Treasury yields have come down a bit, with hopes that the Federal Reserve is easing off its inflation-fighting rate-hiking initiative.
We’ll hear more about what the Fed’s thinking about inflation and the state of the economy with the central bank set to release the minutes from its last policy-setting meeting. 23.00 hours | Today ♾
Piyush Lalsingh Ratnu
XAUUSD marching towards $2005 due to co-relation based pending price movement (1965+40), as alerted in morning at 08.50 hours.
🟢 I will implement SHORT positions from 1999 in GR:
1 PG $6
1 PG $6
2 PG $6
2 PG $6
3 PG $6
3 PG $6
5 PG $6
5 PG $6
Net Price Mapping: $48: 2048 | NAP EXIT
🟢 I will implement SHORT positions from 1999 in GR:
1 PG $6
1 PG $6
2 PG $6
2 PG $6
3 PG $6
3 PG $6
5 PG $6
5 PG $6
Net Price Mapping: $48: 2048 | NAP EXIT
Piyush Lalsingh Ratnu
🟢Co - relation alert:
USDJPY approaching 30.10.2023 Price zone
$149.000 on radar
In proportion
XAUUSD approaching 30.10.2023 Price Zone
$2009 on radar
USDJPY approaching 30.10.2023 Price zone
$149.000 on radar
In proportion
XAUUSD approaching 30.10.2023 Price Zone
$2009 on radar
Piyush Lalsingh Ratnu
🟢JPY Update:
Bank of Japan (BoJ) Governor Kazuo Ueda, adding to his earlier comments, said that the central bank does not have any specific plan yet on how it will sell ETFs and that a weaker Japanese Yen (JPY) pushes up domestic inflation via a rise in import costs
🟢Quotes:
If the achievement of our price target approaches, we can discuss strategy and guidelines on exiting ultra-loose policy including the fate of our ETF buying.
When we sell ETFs we will do it in a way that avoids as much as possible causing market disruption, and huge losses on the BOJ's balance sheet.
Cannot say decisively that a weak JPY is negative for Japan's economy.
Weak JPY is positive for exports, and profits of globally operating Japanese firms.
Bank of Japan (BoJ) Governor Kazuo Ueda, adding to his earlier comments, said that the central bank does not have any specific plan yet on how it will sell ETFs and that a weaker Japanese Yen (JPY) pushes up domestic inflation via a rise in import costs
🟢Quotes:
If the achievement of our price target approaches, we can discuss strategy and guidelines on exiting ultra-loose policy including the fate of our ETF buying.
When we sell ETFs we will do it in a way that avoids as much as possible causing market disruption, and huge losses on the BOJ's balance sheet.
Cannot say decisively that a weak JPY is negative for Japan's economy.
Weak JPY is positive for exports, and profits of globally operating Japanese firms.
Piyush Lalsingh Ratnu
Gold price is consolidating the weekly gains above $1,980 early Friday, set to snap a two-week losing streak. Falling US Treasury bond yields aid the Gold price uptrend, but the resurgent United States Dollar (USD) could check the bright metal’s bullish momentum.
Cautious optimism prevails, as Asian stock markets ended mixed while the European markets are likely to see a positive open. Resurfacing US-China trade worries and uncertainty around the US Federal Reserve’s (Fed) interest rate outlook are keeping investors on the edge.
Amidst jittery markets, the safe-haven US Dollar is finding a floor, limiting the upside attempts in Gold price. However, Gold price continues to cheer the recent sell-off in the US Treasury bond yields, as the demand for the US government bonds increased on hopes that the US Fed is done with its hiking cycle, with markets pricing in interest rate cuts by May next year.
The latest run of soft US economic data releases cemented Fed pause expectations, justifying the upsurge in the non-interest-bearing Gold price. Earlier this week, the US Producer Price Index (PPI) fell the most in three-and-a-half years in October after the US Consumer Price Index (CPI) inflation fell to 3.2% YoY in October. Further, Retail sales, which are adjusted for seasonality but not inflation, fell 0.1% in October from the prior month. On Thursday, the US Initial claims rose 13,000 to a seasonally adjusted 231,000 for the week ended Nov. 11.
Against this backdrop, Gold price is likely to maintain its uptrend but the end-of-the-week profit-taking could emerge as a headwind alongside a potential extension in the US Dollar recovery. Meanwhile, the US Housing Starts and Building Permits data are unlikely to have a significant impact on the US Dollar trades.
🟢Crucial Price Zones:
C: 1966/1947
R: 2009/2023
Cautious optimism prevails, as Asian stock markets ended mixed while the European markets are likely to see a positive open. Resurfacing US-China trade worries and uncertainty around the US Federal Reserve’s (Fed) interest rate outlook are keeping investors on the edge.
Amidst jittery markets, the safe-haven US Dollar is finding a floor, limiting the upside attempts in Gold price. However, Gold price continues to cheer the recent sell-off in the US Treasury bond yields, as the demand for the US government bonds increased on hopes that the US Fed is done with its hiking cycle, with markets pricing in interest rate cuts by May next year.
The latest run of soft US economic data releases cemented Fed pause expectations, justifying the upsurge in the non-interest-bearing Gold price. Earlier this week, the US Producer Price Index (PPI) fell the most in three-and-a-half years in October after the US Consumer Price Index (CPI) inflation fell to 3.2% YoY in October. Further, Retail sales, which are adjusted for seasonality but not inflation, fell 0.1% in October from the prior month. On Thursday, the US Initial claims rose 13,000 to a seasonally adjusted 231,000 for the week ended Nov. 11.
Against this backdrop, Gold price is likely to maintain its uptrend but the end-of-the-week profit-taking could emerge as a headwind alongside a potential extension in the US Dollar recovery. Meanwhile, the US Housing Starts and Building Permits data are unlikely to have a significant impact on the US Dollar trades.
🟢Crucial Price Zones:
C: 1966/1947
R: 2009/2023
Piyush Lalsingh Ratnu
🆘ALERT:
1000 pips crash observed in USDJPY
Expected impact on GOLD:
$30+ from $1980 zone
Target price Zone: $2009
CMP $1990
I will SELL HIGH with NAP EXIT.
1000 pips crash observed in USDJPY
Expected impact on GOLD:
$30+ from $1980 zone
Target price Zone: $2009
CMP $1990
I will SELL HIGH with NAP EXIT.
Piyush Lalsingh Ratnu
🟢XAUUSD CMP @ R1
R2 and S2 crucial zones
I would prefer:
Sell positions above R2 +3/6/9
Buy positions below S1 -6/9/12 S2
🆘$1985/1955 crucial Price zones
R2 and S2 crucial zones
I would prefer:
Sell positions above R2 +3/6/9
Buy positions below S1 -6/9/12 S2
🆘$1985/1955 crucial Price zones
Piyush Lalsingh Ratnu
13.11.2023: As alerted in advance XAUUSD crashed from $1939 till $1921 at Market Opening
Piyush Lalsingh Ratnu
US 10YT crashed -1.01%
USD S 49
USDJPY 151.410
XAUXAG 86.22
DXY 105.670
🟢Impact:
XAUUSD should form a V formation, hence I will BUY lows.
USD S 49
USDJPY 151.410
XAUXAG 86.22
DXY 105.670
🟢Impact:
XAUUSD should form a V formation, hence I will BUY lows.
Piyush Lalsingh Ratnu
NFP DAY: HOW TO TRADE XAUUSD TODAY?
FACTS:
🟢Gold price treads water below $2,000, awaits US Nonfarm Payrolls for a fresh impetus.
🟢US Dollar stalls sell-off with US Treasury bond yields as risk tone turns cautious.
🟢Gold price is poised for a fresh advance amid a bullish daily technical setup.
Gold price is finding support from a subdued performance in the US Dollar and the US Treasury bond yields, as they struggle to stabilize, following the steep losses incurred in the aftermath of a non-committal US Federal Reserve (Fed) policy outlook.
The sell-off in the US Dollar extended on Thursday, as the benchmark 10-year US Treasury bond yields breached the 4.70% key level on increased expectations that the Federal Reserve is done with hiking rates. Further, a hawkish pause from the Bank of England (BoE) boosted the GBP/USD pair, weighing down on the US Dollar. The BoE kept the policy rate steady at 5.25%, as widely expected but three policymakers voted in favor of a hike, suggesting that the door remains open for future rate hikes.
The sell-off in the US Dollar extended on Thursday, as the benchmark 10-year US Treasury bond yields breached the 4.70% key level on increased expectations that the Federal Reserve is done with hiking rates.
Further, a hawkish pause from the Bank of England (BoE) boosted the GBP/USD pair, weighing down on the US Dollar. The BoE kept the policy rate steady at 5.25%, as widely expected but three policymakers voted in favor of a hike, suggesting that the door remains open for future rate hikes.
🆘XAUUSD: Trading Scenarios: Crucial Price Zones:
R: $2009/2023 SZ
C: 1966/1955 BZ
🔘 EXIT NAP
FACTS:
🟢Gold price treads water below $2,000, awaits US Nonfarm Payrolls for a fresh impetus.
🟢US Dollar stalls sell-off with US Treasury bond yields as risk tone turns cautious.
🟢Gold price is poised for a fresh advance amid a bullish daily technical setup.
Gold price is finding support from a subdued performance in the US Dollar and the US Treasury bond yields, as they struggle to stabilize, following the steep losses incurred in the aftermath of a non-committal US Federal Reserve (Fed) policy outlook.
The sell-off in the US Dollar extended on Thursday, as the benchmark 10-year US Treasury bond yields breached the 4.70% key level on increased expectations that the Federal Reserve is done with hiking rates. Further, a hawkish pause from the Bank of England (BoE) boosted the GBP/USD pair, weighing down on the US Dollar. The BoE kept the policy rate steady at 5.25%, as widely expected but three policymakers voted in favor of a hike, suggesting that the door remains open for future rate hikes.
The sell-off in the US Dollar extended on Thursday, as the benchmark 10-year US Treasury bond yields breached the 4.70% key level on increased expectations that the Federal Reserve is done with hiking rates.
Further, a hawkish pause from the Bank of England (BoE) boosted the GBP/USD pair, weighing down on the US Dollar. The BoE kept the policy rate steady at 5.25%, as widely expected but three policymakers voted in favor of a hike, suggesting that the door remains open for future rate hikes.
🆘XAUUSD: Trading Scenarios: Crucial Price Zones:
R: $2009/2023 SZ
C: 1966/1955 BZ
🔘 EXIT NAP