GOLD corrects, accumulates around 2,500 USD, still positive

8月22日

XAUUSD adjusted slightly downward during the early Asian trading session on August 22, maintaining price activity around the original price of 2,500USD. But overall, the overall picture still shows that gold is fully supported and the price drops are only corrective after a long period of price increases.

Minutes of the Federal Reserve's meeting released Wednesday showed policymakers were inclined to cut interest rates in September, and some participants believed the conditions for a rate cut had been set. Available in July.

“Some believe that recent developments in inflation and rising unemployment support a 25 basis point reduction in the policy rate target range at the meeting,” the meeting minutes said. or they may support such a decision. If data continue to be in line with expectations, further policy easing at the next meeting may be appropriate.”

The current U.S. unemployment rate is higher than the 4% unemployment rate that Federal Reserve officials predicted this year in their updated economic forecast in June. It is also higher than the unemployment rate. 4.2% that Fed policymakers expect by the end of next year.
Additionally, revised nonfarm payrolls data released by the U.S. Department of Labor on Wednesday showed that the number of people employed in the United States over the past year through March was initially revised down to 818,000, here This is the largest downward adjustment since 2009.

This trading day, traders will need to focus on US economic data, with initial jobless claims, PMI data from S&P Global and US housing data.
The number of people applying for unemployment benefits in the US is expected to increase to 230,000 in the week of August 17, up from 227,000 the previous week.
Business activity data published by S&P Global shows that the preliminary value of the US services PMI in August will decrease slightly from 55 to 54. The preliminary value of manufacturing PMI in August is expected to remain unchanged. changed at 49.6.
In addition, US existing home sales in July are expected to increase from 3.89 million units to 3.93 million units.

However, all macro focus will be on tomorrow's event, when Federal Reserve Chairman Jerome Powell will speak at the start of the Jackson Hole Symposium.

Analysis of technical prospects for XAUUSD
On the daily chart, although gold continues to adjust cumulatively around the original price of 2,500 USD, in general the short, medium and long-term trends remain unchanged with an overall uptrend.

On the other hand, gold is also maintaining above the 0.786% Fibonacci extension level and this is considered a positive signal for gold to continue towards its next short-term targets of around 2,531USD in the short term and beyond. target level 2,544USD.

Even in the event that gold is sold below the 0.786% Fibonacci extension, it will still receive support from the previously broken era high of $2,484.

During the day, the trend of gold prices did not change with an uptrend and the Relative Strength Index has not yet reached the overbought level, showing that there is still room for growth. Notable technical levels for the intraday uptrend are listed below.
Support: 2,500 – 2,484USD
Resistance: 2,531 – 2,544USD

SELL XAUUSD PRICE 2553 - 2551⚡️
↠↠ Stoploss 2557

→Take Profit 1 2546
↨
→Take Profit 2 2541

BUY XAUUSD PRICE 2468 - 2470⚡️
↠↠ Stoploss 2464

→Take Profit 1 2475
↨
→Take Profit 2 2480

8月22日

ノート

Today's economic calendar is quite exciting, opening in the European session with a series of preliminary PMI reports for August in Eurozone countries. Entering the US session, investors will focus their attention on weekly US PMI and unemployment data, after a sharp revision of employment statistics for the year to March this year from the BLS has been released. reinforcing expectations that the Fed will lower interest rates in September.

8月22日

注文をキャンセル

BUY signal Miss 8pips already. Cancel the rest signal❤️

8月22日

ノート

🟥FED MEMBER HARKER: INTEREST RATES MAY REACH THIS LEVEL BY THE END OF THE MONETARY EASING CYCLE!

Philadelphia Fed member Patrick Harker expressed his support for a gradual rate cut starting in September if economic data matches expectations during an interview with CNBC.

8月23日

ノート

World gold price this morning decreased by more than 27 USD, to the region of 2,486 USD/ounce. Precious metal prices fell sharply due to profit-taking pressure from investors. Domestic gold price stood still compared to yesterday.

8月23日

ノート

8月25日

ノート

Today's gold price on the international market is forecast to continue to increase as investors expect the FED to reduce interest rates and the USD will plummet.

At the end of the last trading week, the world gold price closed at 2,513 USD/ounce, an increase of 6 USD/ounce compared to last week. During the week, precious metals on the international exchange fluctuated very violently, reaching a new historic peak of over 2,530 USD/ounce, then plummeting to 2,470 USD/ounce under pressure from investors to take profits.

8月26日

ノート

World gold prices continue to increase sharply, countries will continue to diversify reserves by buying gold to preserve assets, according to the World Gold Council.

The World Gold Council (WGC) believes that gold is a national reserve asset due to its characteristics of safety, liquidity and profitability. For many years, countries have increased their gold reserves.

8月26日

ノート

According to data from the US Department of Commerce, the value of core goods orders fell 0.1% last month after increasing 0.5% in June. The data is not adjusted for inflation. Durable goods orders rose 9.9%. Excluding transportation equipment, orders fell 0.2%.