Gold XAU/USD Silver XAG/USD US Dollar Index DXY and US Gov Bonds 10 YR Yield Technical Analysis Elliott Wave Forecast
US Spot Gold While it stays above 1700 we can stay with the Elliott Wave Triangle pattern
US Dollar Index DXY: Wave iii of (v) of C) of 4
US Gov Bonds 10 YR Yield: Wave iii of (iii) of iv)
Gold Technical Analysis:Corrective rally in progress towards 1800
Elliott Wave Gold: Primary Wave 4)
Gold Trading Strategy:Neutral
TradingLevels: Resistance 1800
Peter Mathers tradinglounge
As with any investment opportunity there is a risk of making losses on investments that Trading Lounge expresses opinions on.
Historical results are no guarantee of future returns. Some investments are inherently riskier than others. At worst, you could lose your entire investment. TradingLounge™ uses a range of technical analysis tools, software and basic fundamental analysis as well as economic forecasts aimed at minimizing the potential for loss.
The advice we provide through our TradingLounge™ websites and our TradingLounge™ Membership has been prepared without considering your objectives, financial situation or needs. Reliance on such advice, information or data is at your own risk. The decision to trade and the method of trading is for you alone to decide. This information is of a general nature only, so you should, before acting upon any of the information or advice provided by us, consider the appropriateness of the advice considering your own objectives, financial situation or needs. Therefore, you should consult your financial advisor or accountant to determine whether trading in securities and derivatives products is appropriate for you considering your financial circumstances.
Recommended Content
Editors’ Picks
EUR/USD turns sideways below 1.0900 ahead of Fedspeak
EUR/USD is trading sideways below 1.0900 in European trading on Monday, despite a risk-on market mood. The pair, however, finds support from the struggling US Dollar and sluggish US Treasury bond yields, awaiting Fedspeak amid light European trading.
Gold price consolidates near $2,450, fresh record highs
Gold price holds its upbeat momentum intact on Monday, sitting at fresh record highs of $2,450 in the European session. The bright metal benefits from renewed hopes for Fed rate cuts and renewed geopolitical tensions surrounding Iran. Fedspeak is next on tap.
GBP/USD holds steady near 1.2700, Fedspeak in focus
GBP/USD is off the highs, consolidating near 1.2700 in the European trading hours on Monday. A subdued US Dollar supports the pair amid moderate risk appetite. Traders stay cautious on potential geopolitical escalation in Iran and ahead of Fedspeak.
Ripple stays above $0.50 on Monday as firm backs research on blockchain and quantum computing
XRP price holds steady above the $0.50 key support level and edges higher on Monday, trading at 0.5130 and rising 0.70% in the day at the time of writing.
Week ahead: Nvidia results and UK CPI falling back to target
What a week for investors. The Dow Jones reached a record high and closed last week above 40,000, for the first time ever. This is a major bullish signal even though gains for global stocks were fairly modest on Friday, and European stocks closed lower.