Today's Gold Technical Analysis

 📕 Gold comments on March 31, 2021:

‼  Ending the session yesterday, gold precious metal had another strong decline session when from 1714 to 1678 ($ 36) tested the "old bottom" earlier this month on March 8, 2021. This is the 4th time in nearly a year that the world gold price has re-tested this support zone. In my personal opinion, the possibility that gold precious metal will have a recovery span going up after retesting this strong support price zone.

- Considering on the daily chart timeframe, it is clear that the gold precious metal is currently approaching the strong support price zone from April 2020 until now that it has not been broken. And we need to keep an eye on whether the price of Gold will break or not. In my opinion, if it ends today, if the price of Gold stands firm above 1686, there will be strong rebounds going up again. If it breaks through this 1675-1678 price range, the possibility of further declines is inevitable.

- On the timeframes, there are strong downward pressures, but in my opinion, we should consider prioritizing buying gold precious metals rather than researching to sell with the SL level is not too long at 1669. Item Expectations I am heading towards 1700-1705 during today's trading session

Gold Technical Analysis

Latest Forex Market News

 1️⃣ Fear of inflation, yields rebound, USD surpasses 93

- The dollar continued to rise higher at the beginning of the European session on Tuesday, hitting a one-year high against the Japanese yen, when US bond yields started to rise again on inflation fears.

2️⃣ Today's notable facts and data

U.S. Treasury yields skyrocketed on Tuesday, which once put pressure on US gold and silver stocks. Investors must continue to pay attention to changes in the yield curve. Two major events of the day could influence the trend in U.S. Treasury yields:

- At 20:15, the number of small non-farm ADP jobs in the US will be announced in March. The expected value is a 550,000 increase, much higher than the previous value of 117,000.

- At 4:20 tomorrow morning, US President Biden will deliver a speech on his economic vision. According to the Washington Post, US President Biden will announce plans worth $ 2.25 trillion, including $ 650 billion for the construction of infrastructures such as bridges and roads. White House officials are still making final adjustments to the plan and details may change.

In addition, at 22:45 PM, the 2021 FOMC Voting Committee and the Atlanta Fed President Bostic delivered a speech online on "monetary policy during the pandemic"; at 3:00 the following day, US Treasury Secretary Yellen will preside over the meeting.

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Valuable News for Today's Market

1 USD continues to consolidate strength

- On the dollar side, it has been in high demand over the past few weeks, cautious market mood has pushed capital flows into safe assets, while economic strength and rapid vaccine rollout US rapid growth has increased the attractiveness of the greenback.

The country's claim to unemployment dropped to its lowest level in a year last week and President Joe Biden has said he will double his vaccination target, after reaching 100 million shots. 42 days ahead of time. US stocks futures fell slightly as capital flows to rebalance at the end of the quarter were boosted.

Compared to a basket of currencies, the dollar stabilizes at 92,810, just below November's high of 92.92 reached last week.

2️⃣ Significant events and economic data today

- At 22:00 today the US publishes its Consumer Confidence index. Measuring the level of consumer confidence in economic activity. This is a leading indicator as it can forecast consumer spending, playing a key role in overall economic performance. The higher the number, the higher the consumer optimism is.
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Forex Top News by Money Life Research

 1 USD continues to consolidate strength

On the dollar side, it has been in high demand over the past few weeks, cautious market mood has pushed capital flows into safe assets, while economic strength and rapid vaccine rollout US rapid growth has increased the attractiveness of the greenback.

The country's claim to unemployment dropped to its lowest level in a year last week and President Joe Biden has said he will double his vaccination target, after reaching 100 million shots. 42 days ahead of time. US stocks futures fell slightly as capital flows to rebalance at the end of the quarter were boosted.

Compared to a basket of currencies, the dollar stabilizes at 92,810, just below November's high of 92.92 reached last week.

2️⃣ Significant events and economic data today

- At 22:00 today the US publishes its Consumer Confidence index. Measuring the level of consumer confidence in economic activity. This is a leading indicator as it can forecast consumer spending, playing a key role in overall economic performance. The higher the number, the higher the consumer optimism is.

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GBP-USD Weekly Forecast

 A relatively constructive close to the week for the Pound with cable trading at within close vicinity to the 1.38 handle. The slew of UK data throughout the week has had a somewhat limited impact on price action. Softer CPI is likely to reverse higher in the months ahead, which has been well-documented, strong UK flash PMIs for March were not entirely surprising given the UK’s roadmap to normalization being laid out, while retail sales are also expected to bounce strongly as non-essential retail re-opens. That said, for much of this and for the first half of next week the focus has and will be on month/quarter-end flows for G10 FX.

EUR/GBP RANGE BREAK NEARING

The modest bid in cable has been in part a by-product of some cross-related EUR/GBP selling with the 0.8540-0.8640 remaining well respected. In turn, with the cross yet again rejecting the range top, to trade at range lows, the focus will be on whether we can finally see a clean break next week. The fundamentals continue to signal that EUR/GBP remains tilted to the downside with Europe heading towards a third Covid wave with most of the region extending restrictive measures, while the UK has set the roadmap for normalization.

Although I must admit until yesterday, I had been cautious on expecting further downside in recent weeks, given that the cross had been in oversold territory, while the RSI had also posted a bullish divergence. However, with the RSI failing at 50 and now out of oversold conditions, there is more room to expect near-term direction, alongside this we are also heading towards a seasonally strong month for GBP as seen below.

GBP/JPY UPSIDE RISKS AMID MONTH/QUARTER-END FLOWS

Another GBP cross that tends to pique my interest around this time of the month is GBP/JPY, which typically performs pretty well on the final day of the trading month (particularly ahead of the 4pm London fix) as the table below shows. With that in mind, the Japanese FY end may also provide a tailwind to exacerbate the move higher, which has been notable as we close out the week.

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Comment on Gold on March 26, 2021

 ‼️  At the end of yesterday session, precious metal had a 2-way downward trend when it fell from 1738 to 1724, but immediately rebounded to 1745 and then decreased again to 1721. With the up and down momentum Recently, the precious metal Gold has not escaped from the accumulation zone 1745-1725. So in my personal opinion we will continue to trade Gold within this cumulative margin.

Looking at H4 time frame, we can see selling pressure on this precious metal for many days, although the downside pressure of H4 candles appears, but the price still stands above 1725 and above MA20. D1 daily chart timeframe for the past several days. Because of this, the price zone of 1725 becomes a strong support zone, where in my opinion we can establish a buy position with the precious metal Gold. Let us keep trading within the cumulative range of Gold at 1738-1740 in the beginning of today's session.

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Top News For Market For Trading

1️⃣ USD continued to consolidate strength, EU fell deeply into crisis

The dollar edged higher at the start of the European session on Thursday, climbing to a four-month high against the euro as the third Covid wave and slow vaccine rollout in Europe weighed on the common currency. .

- Some European countries, such as Germany, France and Italy, recently extended their travel restrictions when a pandemic reappeared. The French government is also ready to take stricter measures if the current measures are not enough to prevent spread.

On Wednesday, US Treasury Secretary Janet Yellen and Federal Reserve Chairman Jerome Powell expressed confidence in the recovery of the US economy on Monday before the House of Representatives. The confidence surrounding the US economic recovery is in contrast to most developed and developing countries that are already struggling to reopen their economies.

2️⃣ Germany is trying to deal with the vaccine crisis in the EU

Chancellor Angela Merkel on Thursday defended the government's decision to buy the coronavirus vaccine alongside other European Union member states, commenting that otherwise, the bloc's alignment would be shaken.

She told German lawmakers ahead of the EU summit: “Despite all the complaints, the overall EU vaccine acquisition and approval is correct. Now that we see small differences in vaccine distribution that have also caused huge debates, I don't want to imagine the prospect of some member states having vaccines while others. not. It will threaten EU cohesion. ”

3️⃣ Policy information from Central Bank of Switzerland

- The Swiss National Bank has kept interest rates at a record low of -0.75% and committed to continue the foreign exchange intervention policy while the economy remains vulnerable to pandemic.

- Although the CHF's drop to a 20-month low against the euro in recent weeks has helped SNB officials "relax", inflationary pressure remains weak and the implementation of the Covid-19 vaccination is delayed. are affecting economic activities.

- The SNB has denied the allegation that the small size of the domestic bond market makes interventions the most effective tool for curbing the strength of the CHF and preventing deflation.

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Today Top Forex Market News

 1️⃣ Many factors supporting, USD to the highest level in 4 months

- The dollar hit a four-month high on Wednesday as concerns about a third wave of COVID-19 in Europe soar, the possibility of tax hikes in the US and escalating tensions between the West-China both of these are reducing the need for risky assets.

- The greenback's strength index against a basket of currencies has increased by nearly 3% so far, which has puzzled analysts' previous bearish expectations.

2️⃣ The economic recovery signal in the UK is flourishing

A large number of new orders in anticipation of the easing of blockade restrictions fueled a much stronger recovery than was expected in March, a business survey on Wednesday.

The UK economy fell 10% last year - the strongest decline in more than 300 years - and earlier this month, the government's budget forecasters predicted it would take mid-year. this can restore to a pre-pandemic scale.

The survey found that trust among British businesses was underpinned by the UK's rapid release of the COVID-19 vaccine, a factor behind the first increase in employment since the onset of the pandemic.

The survey is likely to reinforce the confidence of Bank of England (BoE) officials that the economy is on the verge of a rapid recovery this year.

3️⃣ Significant events and economic data today

- At around 17:00 on Thursday, many central bank officials will attend the meeting of the Bank for International Settlements, including Fed Williams, President of the European Central Bank Lagarde, President of the Central Bank You can pay attention to their speeches. In addition, at 16:30, the Swiss National Bank will announce the interest rate decision.

- At 20:30 p.m. US economic data including initial unemployed, final GDP and final PCE values ​​are released. If the data works well, it could continue to drive the US index.

After 10pm, many Fed officials also deliver a speech, including Fed Vice President Clarida, Williams and Bostic.

- On Thursday, US President Biden will hold the first official press conference since taking office, the market expects that Mr. Biden will respond and explain hot issues such as southern border, plans infrastructure and vaccines. In addition, Biden will attend the EU Video Summit and is expected to talk about US-EU relations, vaccines and the climate.

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Comment on Gold on March 25, 2021

 After touching the short-term support zone at 1725 gold precious metal has rebounded from 1723 to 1738 ($ 15) to close the daily candle around 1733. With the end of the daily candle around this price zone, in my personal opinion, would still maintain the bearish stance as reported yesterday.

- On the daily chart timeframe we can see that this precious metal Gold, although it had a rebounding rate yesterday, but compared to the decrease of the next candle, it is my opinion that the recovery span increases. usually let us have a better selling point today.

- Considering the smaller timeframe of H4, we can see that the price zone 1734-1736 is the zone where the precious metal price is facing resistance and it is likely that in this Asian session, gold will correct again to the zone 1725 and the period. My expectation is around 1715.

- And every strategy we all must have SL to preserve accounts. In my opinion, if the price of Gold rebounds strongly beyond 1744, we will have to liquidate the order, waiting for the next signal.

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Comment on Gold on March 24 by Money Life Research

 At the end of yesterday's session, the world gold price had a decline from 1742 to 1723 ($ 19) to close the day with a bearish candle with the closing price at 1726 (the lowest price after 4 days. ). As in the analysis report for the last few days, I have stated that gold precious metal is likely to decline further and with yesterday's selling force I continue to expect this precious metal today will continue to move. Move down to the 171x lower price range.

Currently, Gold precious metal is meeting the short-term support zone at 1725, so it is likely that this precious metal will have a slight rebound but with this upward momentum, in my opinion it is for us to have a better selling point. . This recovery in my personal opinion is likely to rise around 1732. Here we can consider establishing a sell position with a target of 1715 in today's trading session.

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Top Market News- Money Life Research

 📕 Comment on Gold on March 24, 2021:

At the end of yesterday's session, the world gold price had a decline from 1742 to 1723 ($ 19) to close the day with a bearish candle with the closing price at 1726 (the lowest price after 4 days. ). As in the analysis report for the last few days, I have stated that gold precious metal is likely to decline further and with yesterday's selling force I continue to expect this precious metal today will continue to move. Move down to the 171x lower price range.

- Currently, Gold precious metal is meeting the short-term support zone at 1725, so it is likely that this precious metal will have a slight rebound but with this upward momentum, in my opinion it is for us to have a better selling point. . This recovery in my personal opinion is likely to rise around 1732. Here we can consider establishing a sell position with a target of 1715 in today's trading session.

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Check out the news of the past 24 hours

 1️⃣ Fed Chairman Powell said that the economy appears to be accelerating, but a full recovery is far from being achieved and the Fed will continue to support policy.

2️⃣ European Central Bank has finally accelerated bond buying in response to rising bond yields.

previous value is higher than previous value and expected value.

3️⃣ AstraZeneca's vaccine has an efficacy rate of 79% in U.S. Phase III clinical trials, and plans to obtain emergency approval from US regulators within a few weeks.

4️⃣ Notable facts and economic data today

- At 19:50 the Governor of the Bank of England Bailey will deliver a speech. 22:10 The FOMC voting committee and the Fed President in Atlanta, Bostic are also to speak. At 23:00 the FOMC voting committee and Richmond Fed President Barr will speak.

US Treasury Secretary Yellen and Fed Chairman Powell testify before the House Financial Services Committee at 24:00. Today there are many speeches of the members of the Fed most is the hearing of Yellen and Powell will be able to have large fluctuations of the market investors should pay close attention.

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Gold Market Going Bounce

 At the end of yesterday's session, Gold price had a day of decline when the price fell from 1745 to 1727 ($ 18) closed the daily candle by a bearish candle at 1738. This is the 4th consecutive day in a row. while the precious metal Gold is still in the sideways from 1745-1725. With Gold still in this range, I still hold my personal opinion as in the last few days, we will sell down in this price range and wait for the breakout.

- As I mentioned as yesterday morning's comment. Personally, I am still waiting for a downward sweep of gold precious metal below the price zone that it is going sideways to be able to go up further so today we will continue to sell down precious metals. This is in the 1741-1746 region. Safe target will remain on the 1727-1732 price zone and expect 171x today.

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Today's Important News by Money Life Research

 Notable events and economic data this week

At 21:00 tonight, Fed Chairman Powell speaks on innovation in the digital age at the International Settlements Bank meeting. In addition, Fed Chairman Richmond Barking and San Francisco Fed Chairman Daley will deliver speeches.

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Gold Technical Update- Money Life Research

 📕 Comment on Gold on March 22, 2021:

‼  At the end of last week's trading session, world gold price had a bounce from 1719 to 1755 ($ 36) to close last week's candle with a candle that increased higher than next week. While the upside momentum on the weekly chart time frame is there, it is currently facing the resistance zone of 1755-1760. So in my personal opinion would continue to prioritize Sell when the precious metal Gold approaches this price range.

- Considering the weekly chart time frame, we can see that the last 3 trading days, the closing and closing price has not broken through the 1745 price range and has not broken through the 1730 price zone, so we can trade in the market. These 2 bands then wait for the strong breakout of gold precious metal.

- Switching to the smaller timeframe H4 we can see the nearest resistance price zone we can establish a sell-down position with this precious metal at 1741-1746 and the target will remain safe on the price zone 1727-1732 in early trading today.

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Latest Updates On Gold

At the end of the session yesterday, the world gold price had a strong decline from 1755 to 1719 ($ 36), but at the end of the session, the price of gold rebounded and closed the daily candle at 1732 with a tree. candle draw legs. In my opinion, after the gain of Wednesday night, yesterday the price dropped just like that, back to the sideways 1723-1740. So we can trade the precious metal Gold in these 2 margins.

- Moving to the H4 time frame, in my opinion, Gold may still be under downward pressure in the beginning of today's session to come back to test the 1716-1720 price range again. Only consider the signal of a reversal of Gold here. If the precious metal Gold does not pass this price range, it is likely that Gold will have an uptrend again.

- One more thing in my opinion, we should limit trading in the middle of the current price in the beginning of the Asian session to wait for the deep waves of this precious metal to establish an entry position that will be safer for the asset. our account.

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Check Out The News of The Past 24 Hours

1️⃣ ECB: It takes time for the stimulus to take effect

On Thursday, European Central Bank (ECB) President Christine Lagarde said it may be a while before an increase in money printing speed becomes apparent.

Investors have been scrutinizing the ECB's weekly asset purchase data for evidence of ECB's efforts to prevent rising borrowing costs in the bond market, largely due to inflation expectations. US growth increased.

- The ECB agreed to a "substantial" increase in bond purchases last week to keep yields down, but Ms. Lagarde said it will be some time before the move appears in the weekly bond buying figures. this organization.

Market concerns are likely to become more pressing after the US Federal Reserve raised growth and inflation expectations on Wednesday while aiming not to raise interest rates until 2024.

2️⃣ Despite the Fed's speech, treasury bond yields soared.

The yield on 10-year US Treasury bonds soared to 1.75%, continuing to hit a new high for more than 13 months.

- The number of initial unemployment claims in the US last week was higher than the previous value and the expected value.

3️⃣ Notable facts and economic data today

- At 11:00 am, the Bank of Japan will announce the interest rate decision, and then Bank of Japan Governor Haruhiko Kuroda will hold a press conference. Yesterday, according to foreign media, the Central Bank of Japan will issue a recommendation to expand the range of government bond yields, cancel the target of buying a 6 trillion yen ETF, and increase the range. long-term interest rate action. Investors can be wary of the volatility of the Japanese yen and equities.

Today is the first "Four Days of Witchcraft" in 2021, that is, the US stock options, stock index futures, and stock index options will expire on at the same time today. This is usually when the market price fluctuates sharply. expand market volatility.

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Comment on Gold on March 18 by Money Life Research

 ‼ After the past 2 days, the gold price has not fluctuated, most clearly yesterday, the price of Gold sideways in a narrow band (1727-1737) until the Fed meeting last night, the price of Gold The world broke the resistance level of 1740 which held Gold previously to go up to 1752 and closed the day with a strong bullish candle at 1745.

- With the break out of this multi-day resistance zone, in my opinion, this momentum will continue today. On the D1 daily chart time frame, we can clearly see the bullish candlestick force surpassing the MA20 and heading to the next resistance zone around 1760-1765 zone today. So where to set up a buy position?

- As we know when an old resistance is broken, it immediately becomes a new support zone that pushes the price up but however with this strong rise of precious metal last night and this morning it is likely Gold precious metal will only return to the price range 1745-1747 and then continue to go up. So around that price zone, we can establish a buy position on the precious metal Gold with a target at 1760-1765.

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Check out the news of the past 24 hours

 🌈🌈Good morning! Have a nice day!

+ Check out the news of the past 24 hours:

1️⃣ Key points from Fed Chairman J. Powell's statement:

- Seeing strong economic growth in 2021, GDP is expected to reach 6.5%. And reach 3.3% in 2022, 2.2% in 2023.

- Inflation is expected to increase to 2.4% this year, higher than the Fed's inflation target, but that is only temporary.

- Commit to keep interest rates close to zero until the end of 2023, an effort to ensure the economy fully recovers from the pandemic.

2️⃣ Notable facts and economic data today

- At 16:00 and 19:00 today, the President of the European Central Bank Lagarde will deliver a speech. The market will focus on his statement and policy direction on the economic outlook of the eurozone.

At 20:00, the Bank of England will announce interest rate decisions and meeting minutes, investors must be wary of the fluctuations of the pound.

At 23:55, Fed Chairman Powell delivered his closing speech at the meeting hosted by the Bank for International Settlements. Following the Fed's resolution, people can continue to pay attention to the policy signals revealed in Powell's speech.

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Check out the news of the past 24 hours

 1️⃣ Yesterday's main news

- The breakeven US inflation rate for 10 years, 30 years surpasses the highest level in 7 years.

- $ 24 billion of US Treasury auction results over 20 years exceeded expectations.

- The Governor of the Bank of England said he will continue to buy government bonds in 2021.

The Central Bank of Japan plans to start testing the central bank's digital currency in the spring.

- The Reserve Bank of Australia said it is very unlikely to implement a negative interest rate policy.

2️⃣ Notable facts and economic data today

- At 17:00, the IEA will publish monthly crude oil market reports, investors can focus on the assessment of demand expectations.

- At 22:30, the United States will announce the EIA crude oil inventories until March 12. The US API crude oil reserve announced earlier this morning unexpectedly decreased by 1 million barrels. If the data falls back, it could give ... limited support on oil prices.

At 2:00 a.m. on Thursday, the FOMC Federal Reserve announced resolutions on interest rates, policy statements and economic expectations; then at 2:30, Fed Chairman Powell will hold a press conference. The market generally expects the Fed to remain flat.

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 📕 Comment on Gold on March 17, 2021:

‼ In yesterday's trading session, the world gold price had a bounce to test the "old peak of 1740" but once again did not pass and then declined slightly again after that. At the end of yesterday session, precious metal Gold closed with a slight decreasing candle around 1728. With the last 2 days, the amplitude slowed down and the upside force was restrained at around 1740. In my personal opinion we can resell when the price approaches this price zone.

- Looking at the shorter timeframe H4 we see selling pressure around the resistance zone 1740 so at this price zone we would prefer to sell short to yesterday's range of 1728 and expectation is 1721. At this price zone, let's liquidity and wait for signal of breakout of gold precious metal.

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Natural Gas Forecast: Technical Breakdown May Accelerate as Fundamentals Wane

 The most recent 8- to 14-day temperature outlook from the National Weather Service’s Climate Prediction Center paints an unfavorable picture for natural gas prices. Forecasted temperatures in the northeastern and western portions of the United States will be above average over the next two weeks. The south will likely be cooler than normal. Overall, the expected warmer weather – especially across the northeastern US – will likely weigh on demand, driving natural gas prices lower.

NOAA 8-14 DAY OUTLOOK TEMPERATURE PROBABILITY

With spring quickly approaching in the United States and warmer weather along with it, natural gas prices may come under increased pressure as the heating gas faces decreased demand prospects. Analysts are expecting a draw of only 21.67 billion cubic feet (bcf) for this week’s EIA storage change, according to Bloomberg’s median forecast. That compares to a 52 bcf draw for the week prior.

That said, even if warmer weather doesn’t manifest this week as the NOAA’s forecast lays out, natural gas prices face decreased demand going into the summer. While late-season storms or unusual cold spells across the United States remain possible, bullish sentiment appears to be on the backfoot as prices continue to move lower. A fundamental shift will need to see a significant shock to supply or demand if prices are to move higher.

NATURAL GAS TECHNICAL FORECAST

Prices have broken below a key trendline from the September swing lower earlier this week, severely degrading natural gas’s technical posture. The 23.6% Fibonacci retracement from the October to December move was decisively breached on the violent downside move. The total move from the February swing high is now at 25%.

The 200-day Simple Moving Average (SMA) – which sits within 2% of current prices at 2.445 – is now in focus for a potential area for bulls to defend. MACD is oriented lower with a bearish tilt while the Relative Strength Index (RSI) hovers just above oversold territory. If the 200-day SMA breaks, more losses may be in store. Alternatively, a short-term bounce of the key SMA would be unsurprising, but watch for any bounce to fade given the fundamental backdrop.

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Check out the news of the past 24 hours

 1️⃣ BoE maintained optimism, not afraid of inflation

In an interview with the BBC, the Governor of the Bank of England - Andrew Bailey - has the following notable points:

- The impact of the blockade is less than a year ago;

We now have a greater balance of risk;

The UK economy is expected to return to pre-pandemic scale by the end of this year;

- The accumulation of savings is an increased risk;

- He predicts that inflation will rise to 2% in the next few months, and see no possibility of inflation to 4% or 5%;

- We have no shortage of policy tools to use when needed;

- BoE may introduce new policy tools next time;

- BoE is asking banks to get ready for a negative interest rate policy; However, there is currently no view on whether the BoE will adopt this policy or not;

- An increase in market yields consistent with a change in economic outlook;

These are not new things that we have never heard of from BoE, however, it is worth noting that he has not shown resistance to the recent developments in the bond market and emphasizes on the eccentricity. economy. This could be a positive thing.

2️⃣ Brexit is over, the consequences are beginning to be revealed

While Brexit is considered in the past, there are still complications to be solved, not only in terms of legislation but also in terms of enforcement.

- Irish National Television (TRE) said bilateral tensions have continued during the new year as the EU is seeking legal action against the UK on the grounds that the EU has violated the included terms. out of Brexit withdrawal agreement.

- Specifically, the EU will take legal action against the UK over the unilateral move to change the provisions of the Northern Ireland Protocol today, TRE said.

This is not an issue that is so important to market sentiment but pay attention if it can escalate into larger conflicts.

3️⃣ Notable facts and economic data today

At 8:30 today, the Reserve Bank of Australia released the minutes of its March monetary policy meeting.

- At 20:30 the US will announce the monthly retail sales ratio for February. The market expects that the data will write -0.5%, up from the 5.3% increase for the month before. If data performance is bad at the time, investors need to be on the lookout for market shocks.

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Gold Market Going bounced, Still Buy for Old Level high

 Comment on Gold on March 16, 2021:

In the first trading session of the week yesterday, the world gold price fluctuated not so strongly as it bounced up from 1721 to 1734 (13 $) closed the trading day with a light up candle at 1731. With the end If the daily candlestick is around this price level, the uptrend of the gold precious metal as yesterday I expected will remain. We will remain buying up to at least around the "old high" level of 1740.

- Moving to a shorter time frame than H4, we can see that the downward pressure in yesterday's Asian session on gold precious metal is there, but after many retesting the 1722 price range, the price did not break and back up. This makes the 1722 support level stronger. So in the beginning of today's session, we will prioritize buying when prices recover.

- The support price zone pushed up the precious metal Gold during the day around 1720-1724. That safe target is around the nearest resistance at 1738-1740 and expect it to be around 1746-1750 today.

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GBP/USD Mixed Ahead of a Big Central Bank Week

 This week’s economic calendar is dominated by the latest FOMC meeting on Wednesday with traders keen to see if the Fed gives any clues about interest rates going forward. US Treasury yields have been rising over the last few months, as investors continue to price in increased economic activity in the US, and while it is likely that the Fed will allow the economy to run hot in the near-term, any suggestion of higher inflation will see bond yields rise further.

The Bank of England will announce its latest policy decision on Thursday with all settings expected to be left untouched. As with the FOMC meeting, it is the accompanying narrative that needs to be closely followed, and with UK gilt yields also on the rise – the 10yr trades at its highest yield since July 2019 – Sterling may get another supportive bid.

The latest UK vaccination data is also Sterling-supportive with fatalities falling to a multi-month low while over 512k people received their first vaccination jab on Saturday, a multi-week high. The UK vaccination program is expected to increase further over the next few weeks with a further supply of vaccines now available with some reports that the vaccination rate may double soon.

GBP/USD remains in a longer-term uptrend but in the short-term, the pair may re-test the 50-day simple moving average (blue line) which has provided robust support over the last few weeks. This currently stands at 1.3830. A break and open above 1.4020 will be needed to turn the short-term sentiment positive.

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Latest Gold Market News

 Comment on Gold on March 15, 2021:

At the end of last trading week, World gold had a week of gaining and recovering after 3 consecutive strong declines from 1675 to 1739 (64 $). With the strong increase of the candle last week, in my opinion, it is highly likely that in the beginning of the week's session, gold price will continue to be supported to increase.

- Considering the daily chart timeframe we also clearly see this. Friday's candle was a 2-way candle but ended the day as a long-legged push candle, showing that the upside force was regained at the end of Friday's session.

- Moving to the smaller timeframe of H4 in my opinion the nearest support that pushes the price of Gold up for that day is around 1720. Here we can establish a buy position with target short term is the "old peak" on Thursday last week 1740 $ / oz When we reach this price range we will liquidate orders and wait for signals. Here I will have the next update.

Technical Gold Analysis

The Main News Over the Weekend

 🌈🌈Good morning! Happy new week with lots of energy, good work!

1️⃣ The main news over the weekend

The US 10-year Treasury yield broke its previous high of 1.625%.

- The White House began distributing $ 1,400 personal aid packages to a few people.

2️⃣ Notable facts and data this week

This week, three central banks will announce interest rate resolutions.

- The Fed will publish its resolutions on interest rates, policy statements, and economic expectations on Thursday, and then-Fed Chairman Powell will hold a press conference. Investors should pay attention to the Fed's view on the recent rise in US bond yields.

- On the same day, the Bank of England will announce the resolutions on interest rates, and minutes of the meeting, it is expected that the central bank will "standstill."

On Friday, the Bank of Japan will also announce the interest rate decision, and then Bank of Japan Governor Haruhiko Kuroda will hold a press conference.

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Cryptocurrencies Weekly Review by Money Life Research

MARKET VIEW

Weekly changes: BTCUSD +9.05%

After hitting a weekly high of 52,655 USD, bitcoin declined towards 46,6000, showing high volatility. Nevertheless, the first cryptocurrency rebounded by the end of the week amid a broader recovery in risk assets after a report showed the U.S. added more jobs than forecast last month.

The market is in the correction stage now after the BTCUSD updated the maximum historical value above 58,300 USD on February 21.

KEY POINTS

The current pressure on bitcoin is closely related to the head of the Federal Reserve's Jerome Powell speech. He said that the economy had not reached its inflation targets, and therefore there is no need to tighten monetary policy. This, in turn, has increased the flow of capital from risky cryptocurrency assets to traditional markets.

MicroStrategy has added another 205 bitcoins worth 10 million USD to the investment portfolio. Now, MicroStrategy owns 91.06 thousand bitcoins, which are worth 4.3 billion USD at the current exchange rate.

The current price changes structure hints at the risk of a correction to the level of 40,000 USD.

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Today Comment on Gold by Money Life Research

 📕 Comment on Gold on 12/03/2021:

 ‼ ️In yesterday's trading session, the world gold price had a bounce from 1723 to 1740 after touching this price zone.  point.  At the end of yesterday the price of gold was sold off after 2 days of the rally this also proves that the buying pressure has also decreased but the downward pressure is not strong, so in my personal opinion early today buying will be.  still dominated and it is possible that this precious metal will have a retest at the 1740-1746 price range.

 - Today is also the last trading day of this week, so the closing price of this week is very important, namely the 1740-1746 price range mentioned above.  If the 1740-1746 price range is not broken this week, there is a high possibility that Gold will officially return to the previous mainstream downward trend, but if Gold rebounds strongly beyond this level, the uptrend will continue.  in the next week's sessions.

 - Back today, the precious metal Gold is currently around the support level of 1718-1721 and in my opinion, we can establish a short buy position on Gold.  The safe target is to take profit below 1738 and wait for price reaction around the 1740-1746 zone to consider whether to sell down.  Here I will have the next update with proper signal entry-level stop loss and target prices. Thanks

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Check out the news of the past 24 hours

  Check out the news of the past 24 hours:

 1️⃣ Slightly Improved Market Risk Needs!

 - The dollar index fell to its lowest level in a week at the beginning of the European session on Thursday, and there was a slight "risk" trend in the money market as attention turned to Central Bank policy meeting  European Central Government.

 Wednesday's lower consumer price data in the United States helped ease concerns about a possible spike in inflation as economies reopen after the COVID-19 pandemic.  Yields on US bonds are also down from the recent spike.

 2️⃣ J. Biden has signed the 1,900B Relief Bill and a cash aid of 1,400 USD will be sent to the bank accounts this week

 3️⃣ Notable facts and economic data today

 - Biden will give a national speech, and areas closely related to economic development such as infrastructure investment will be the focus of attention.

 - The total number of US oil rigs for the week to March 12 are announced at the following day, the number of oil and gas rigs in the previous week was 310 oil and gas rigs rose for the second consecutive day.  next week.

 - On March 14 (Sunday), the Economic Times and Economic Data Release Time for US and Canadian financial markets will be one hour earlier than winter time.

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Gold Analysis- Money Life Research

Technical Gold Analysis

  ‼ ️ At the end of yesterday's trading day, world gold price bounced up from 1708 to 1726 (18 $) to close again with a slight bullish candle but the back peak was higher than the previous one.  With the movements of most of last night in my opinion this momentum will continue in today's trading day.

 - During the whole yesterday, the world gold price did not change much and at the end of the session, the gold price just broke out of the 1720 zone and went up to the price zone of 1726,1727.  With this rise of Gold, on the D1 timeframe it is likely that this precious metal will conquer the price ranges of 174x to 175x on today's trading day.

 - Switching to the smaller timeframe H4 in my opinion, and expectation for today.  Now, Gold may reach around 1745.

USD Preparing for a Tumultuous Day

 USD: Preparing for a tumultuous day

Overnight, the risk asset rally slowed, with the dollar regaining some of its previous day's losses. The US February CPI and the US Treasury auction are two main events to keep an eye on. Low demand, in particular, is the biggest danger to consumer sentiment if the fragile UST market is put under pressure again. A strong take-up may also reinforce the risk-friendly mood in FX markets. As a result, traders should brace themselves for a day of uncertainty as they monitor the FX market for signs of confirmation as to whether the risk rally was a blip or the preliminary start of a trend.

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Today's Important News Last 24 Hours

 Check out the news of the past 24 hours:

 1️⃣ Yesterday's main news

 Biden signed a $ 1.9 trillion stimulus bill on Friday, the US budget deficit exceeding $ 1 trillion.

 The monthly CPI of the United States in February increased by 0.4% over the previous month, recording the fastest growth rate in 7 months.

- Foreign media said Russia will increase production and oil prices start to see a recovery of "V" shape.

 - The United States 10-year Treasury bond issue flat result, the once low yield of US bonds bankrupt daily.

 - Biden will order an additional 100 million doses of the Johnson & Johnson vaccine.  Total vaccine orders can meet the needs of 500 million people.

 - The US Senate Bank Committee approves candidate Gensler as chairman of the SEC.

 2️⃣ Notable facts and economic data today

 - At tonight, the European Central Bank announced its decision on interest rates, and, President of the European Central Bank Lagarde held a press conference.  Monitoring the European Central Bank European debt Increasing yields and stance of bond buying policy.

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BoC Interest Rate Decision, Canada

 BoC Interest Rate Decision, Canada

WHAT IT INFLUENCES: CAD and its subsequent pairs

WHAT'S HAPPENING: The Bank of Canada announces the BoC Interest Rate Decision. If the Bank of Canada is hawkish about the economy's inflationary outlook and raises the interest rate, it is positive or bullish for the CAD. If the Bank is dovish about the Canadian economy and keeps or cuts the ongoing interest rate, it is seen as negative or bearish for the CAD.

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Today's Gold Overview by Money Life Research

 📕 Comment on Gold on March 10, 2021:

 

‼ ️ At the end of yesterday's session, the world gold price had a rather strong day from 1679 to 1720 ($ 41) closing the daily candle with a candle covering the decline of the previous day at 1715. With  By the end of the candle yesterday, in my opinion the bull rally of Gold after several days of decline will be maintained in today's trading session.

 - On the daily chart timeframe we clearly see that the gold precious metal is hitting the short-term resistance zone around 1721 and is gathering strength here.  In my opinion, this resistance is not very reliable for us to establish a sell position but only wait for this precious metal to decline to a good point to buy up.

 - Considering on the smaller timeframe H4, we can see that the downward force after hitting the resistance zone 1721 is not too strong, so the precious metal Gold can rise without any significant recovery when rising strongly.  yesterday.  Intraday support we could enter a buy position around 1705-1709 and our target is the next resistance around 1738.

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Check out the news of the past 24 hours

  1️⃣ Yield gains will not stop anytime soon, and USD will continue to benefit

 - The dollar fell in early European session on Tuesday, but remains near a multi-month high thanks to solid treasury bond yields and strong expectations for the US economy to recover.

 Another test for the market and the USD would be the sale of 3-year Treasury bonds, a week after a match.  Less well-received 7-year bond prices triggered a yield hike.  Three-year bonds are more sensitive to short-term rates and therefore the bid will suggest a time when investors expect the Fed to start raising interest rates.

 Driven by the dollar's rise this year is also on positive economic data, analysts have revised their forecasts for U.S. growth higher while tending to revise down forecasts.  for other countries.

 2️⃣ ECB Members: Dual recession was no longer the most important problem

 The comment of the Governor of the Bank of France, Francois Villeroy de Galhau has the following notable points:

 - French economic growth this year may reach at least 5%;

🌈🌈Good morning!  Have a nice day!

- The French Central Bank estimates that the French economy will avoid a double recession, stable economic performance leading to “slight” growth in Q1;

 - I think having a double recession does not matter much, because the focus is now not on how things are going in Q1 but on how much the eurozone economy could grow in the second half of 2021 - especially  especially in the summer months;

 - Vaccine deployment and reopening the economy are more important factors at present;

 3️⃣ Notable facts and economic data today

 - At tonight, the US monthly CPI will be announced in February, is expected to be 0.4%, compared with the previous value of 0.3%.  If the data is higher than expected, it could become the catalyst for further increases in US Treasury yields.

 - The US House of Representatives is expected to consider and pass the stimulus bill

 - The Bank of Canada announced its interest rate decision.  The market is not expected to change interest rates, focus on the Canadian dollar, inflation and debt buying.

 - US EIA crude oil inventories are announced for the week to March 5th. The market is expected to drop 833,000 barrels, while API inventories are announced at the beginning of the morning.  now recorded an unexpected increase.

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Today's Dax Analysis by Money Life Research

 ℹ️ #DAX #ANALYSIS

The DAX after having spent 2 days holding the bearish onslaught of the USA forming a somewhat irregular side, yesterday exploded to the upside, breaking said side and taking the all-time highs ahead leaving a strong rise.  At the moment no bearish positions since the trend are very bullish and at the minimum, it rises, Use the DAX will rise even more.  In terms of data, today there is only EU GDP.

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Market News On Gold

 Gold

MARKET VIEW

Weekly changes: XAUUSD -1.59

After slow-burn over the past two weeks, gold found support at the level of 1,700. The precious metal has its worst first quarter in almost four decades.

The decline comes as higher yields dent the appeal of gold, which offers no interest. The strong dollar sank gold prices to a nine-month low as investors sold the precious metal to reduce the opportunity cost of holding the non-yielding asset.

KEY POINTS

The optimism that the rollout of Covid-19 vaccines will drive a global recovery has pushed investors to switch from the traditional haven gold to other assets.

Federal Reserve Chair Jerome Powell stopped short of forcefully pushing back against the recent surge in long-term borrowing costs, sending U.S. Treasury yields soaring.

The adoption by the Senate of President Joseph Biden's 1.9 trillion USD coronavirus relief bill, which should hand the U.S. a larger budget deficit and higher debt-to-GDP ratio — both is good for gold.

Comment on Gold on March 9 by Money Life Research

 📕 Comment on Gold on March 9, 2021:

After last Friday, the downward force seemed to slow down then yesterday Gold price failed to recover and fell from 1714 to 1676 ($ 38) closed day candle continued with a strong down candle.  As of yesterday's comment, I mentioned that in order for the price of Gold to rise again, the daily candlestick must be closed above 1714-1715, but the pressure dropped sharply and this precious metal created a new bottom.

 In my personal opinion today, with such strong downward pressure, there is a high possibility that the downside force will continue today.  My opinion is to wait for the precious metal Gold to return around 1695-1700 to establish a sell-down state.  The target expected at 165x will be the area of ​​this precious metal price towards today.

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Technical DAX Analysis by Money Life Research

 ℹ️ #DAX #ANALYSIS

The DAX continues within the side formed last week, holding the bearish onslaught that USA had, for now until it leaves this side we will not see good routes.  In terms of data today there is nothing of relevance.

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Gross Domestic Product, Japan

WHAT IT INFLUENCES: JPY and its subsequent pairs

WHAT'S HAPPENING: The Gross Domestic Product report released by the Cabinet Office shows the monetary value of all the goods, services, and structures produced in Japan within a given period. GDP is a total measure of market activity. It indicates whether the Japanese economy is growing or decreasing. A positive reading or a better than expected number is bullish for the JPY, while an negative reading is bearish for the JPY.

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Check out the past 24 hour news- Money Life Research

 🌈🌈Good morning!  Happy new week with lots of energy, good work!

 1️⃣ The main news over the weekend

 The US Senate approves a $ 1.9 trillion stimulus plan.

 Non-farm data is still "beautiful", still 10 million lower than its peak in February 2020.

 2️⃣ Notable economic events and data this week

 This week is a period of silence before the Fed's decision.  Other major developments of the central bank include:

 On Monday, the Governor of the British Central Bank Bailey gave a speech on the prospects for the UK economy.

 On Wednesday, the President of the Reserve Bank of Australia Lowe delivered a speech;  The Central Bank of Canada has announced interest rate resolutions.

 On Thursday, the European Central Bank announced its interest rate decision, and then the President of the European Central Bank, Lagarde, held a press conference.

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US Dollar Outlook

 The US Dollar is flying high today with signs of strength across the board of FX peers. US Dollar gains were most notable against the Euro and Yen. USD/JPY soared over 90-pips on the session while EUR/USD plunged as Fed Chair Jerome Powell unleashed a surge in Treasury yields. The latest extension of the bond selloff sent the 10-year Treasury yield exploding past the 1.55% level, which further improved the US interest rate differentials and energized US Dollar bulls.

On balance, the broader DXY Index spiked 0.75% to eclipse its 100-day simple moving average and upper Bollinger Band. Unsurprisingly, the recent acceleration in US Dollar buying pressure has corresponded with an upswing in both the MACD indicator and relative strength index. Nearside technical resistance for the DXY Index stands out around its 04 February swing high. Surmounting this obstacle could bring the 61.8% and 78.6% Fibonacci retracement levels of November 2020 to January 2021 bearish leg into focus. Rejecting it's year-to-date high might motivate US Dollar bears to set their sights on the 20-day simple moving average.

FX volatility has been heating up on the heels of recent bond market volatility. Interestingly, even despite today’s move, USD/JPY overnight implied volatility of 5.4% is below its 20-day average reading of 5.7%. This suggests an implied range of a mere 62-pips. AUD/USD and NZD/USD are expected to be among the most active major currency pairs during Friday’s trading session judging by their respective overnight implied volatility readings of 10.3% and 14.6%.

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