Gold soars, Dollar collapsed

Jason Sen DayTradeIdeas.co.uk

Gold

We hit the sell opportunity at 4355/4365 and Gold held here for 4 hours but then the Treasury Dept announced support of longer bond prices.

Shorts were immediately stopped above 4375 and we shot higher to my longer term target of 4495/4505 (which I had talked about last week when we had the first buy signals).

In the Telegram group we bought Gold at 4450/4440 before we hit the target of 4495/4505, pocketing 500 ticks.

First support at 4485/4475 & longs need stops below 4465.

A break lower however targets better support at 4450/4440 (where we were buying in the Telegram group yesterday).

Longs need stops below 4430.

We have resistance at 4505/4515 & we are struggling here. However I think shorts are risky & I prefer to buy a break above 4525, targeting 4545/49 & 4565/4570.

Eventually I can see Gold reaching 4585/4595.

Author

Jason Sen

DayTradeIdeas.co.uk

Jason Sen began his career in the options pits on the trading floor of LIFFE in 1987 at the age of 19, making markets on his own account. In 2001 when the trading floor closed he successfully made the transition to day trading on computer screens.

GBP/USD keeps range around 1.3600 amid a pause in USD sell-off

GBP/USD holds its retreat from its highest level since May 11, ranging around the 1.3600 mark in the European session on Thursday. US Dollar sellers take a breather as markets assess whether the US Treasury buyback will be a game-changer. Attention now remains on US data and Middle East headlines for further trading impetus.

EUR/USD hits fresh three-month highs above 1.1700

EUR/USD is at its highest level in three months, above 1.1700, in European trading on Thursday. The pair regains traction as the US Dollar resumes its downside, led by the US Treasury's bond buyback plan.. US Jobless Claims data are next in focus amid lingering Iran risks.

Gold sticks to losses below $4,500 as USD firms on hawkish FOMC minutes and Iran risks

Gold sticks to modest intraday losses through the Asian session and currently trades below the $4,500 mark, though it remains close to the highest level since early June, set earlier this Thursday. Against the backdrop of geopolitical uncertainties, the US Dollar stabilizes after the previous day’s slump to a three-month low amid hawkish FOMC Minutes. This prompts bulls to take some profits off the table and weighs on the bullion, though retreating US bond yields limit further downside.

Top Altcoins Price Forecast: Ripple rallies above $1, Solana eyes $85, Cardano eases gains

Top altcoins, such as Ripple, Solana, and Cardano, are holding steady on Thursday after a bullish rebound as the broader crypto market rebounds on US Treasury bond buybacks. The technical outlook for XRP and SOL suggests further upside, while ADA risks losing the recent gains. Ripple trades around $1.0951 following a 10% surge the previous day.

The bond coup

Yesterday was marked by a coup from the US Treasury, which suddenly announced that it will ‘at least double’ the maximum size of its buyback operations for longer-term debt, hoping to ease pressure on long-term yields and borrowing costs. Phoah! The markets reacted heavily to the news. The US 10-year yield fell sharply, while the 30-year yield dropped from its highest levels since 2007.

$20 billion offered, $2 billion taken: Why Treasury doubled its buyback cap

The US Treasury moved off its own calendar on Wednesday, and that is the part worth sitting with. At 12:32 GMT, the department said it would at least double the size of liquidity support buyback operations in the 10-year to 20-year and 20-year to 30-year sectors, lifting the maximum from $2 billion per operation to at least $4 billion, effective September 9 and running to November 4.