Thursday, March 23, 2023
  • Login
  • Register
btclive365.com
  • Home
  • Cryptocurrency News Today
  • Bitcoin (BTC)
  • Altcoins
  • Blockchain
  • Crypto Mining
  • CryptoCurrency Predictions
  • Defi
  • Dogecoins
  • Earn Crypto
  • Ethereum (ETH)
  • Forex Trading
  • ICO
  • Litecoin ( LTC )
  • NFT
  • Ripple
  • Trend cryptocurrency
No Result
View All Result
  • Home
  • Cryptocurrency News Today
  • Bitcoin (BTC)
  • Altcoins
  • Blockchain
  • Crypto Mining
  • CryptoCurrency Predictions
  • Defi
  • Dogecoins
  • Earn Crypto
  • Ethereum (ETH)
  • Forex Trading
  • ICO
  • Litecoin ( LTC )
  • NFT
  • Ripple
  • Trend cryptocurrency
No Result
View All Result
btclive365.com
No Result
View All Result
Home Forex Trading

XAUUSD probes the 100-day EMA as buyers’ eye $1735

btclive365 by btclive365
November 9, 2022
in Forex Trading
0
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter


  • Gold fluctuates in the New York session amid the uncertainty of midterm elections in the United States.
  • US Treasury yields are rising, underpinning the US Dollar, which is up more than 0.50% against most G8 peers.
  • Gold Price Analysis: Testing the 100-day EMA, which, once broken, would shift the bias to neutral-upwards as buyers are in control.

Gold price is trading in the red, unable to crack the key resistance level at around $1716, while US Treasury yields edge higher, underpinning the American Dollar, which per the US Dollar Index, tumbled below 110.000 on Tuesday. Factors like the United States midterm elections grabbed the spotlight, with a tighter-than-expected race weighing on the market mood. At the time of typing, the XAUUSD is trading at $1711.50, fluctuating.

Gold remains trendless around $1710 awaiting US midterm elections results and CPI

US equities are set to open lower, as shown by the futures market. A close race between the Republicans and Democrats turned sentiment sour, as polls suggest that the former might regain control of the US House while the Democrats would keep control of the US Senate. That said, the US Treasury yields rallied, led by the 10-year rising two basis points, at 4.155%, a tailwind for the precious metals space.

Additionally, the US 10-year real yield, which is the yield of the 10-year bond minus inflation expectations for the same time horizon, sits at 1.70%, capping the Gold rally on Tuesday. Meanwhile, the US Dollar Index, a gauge of the bucks’ value vs. a basket of peers, is snapping three days of consecutive losses, up by 0.54% at 110.220.

In the last week, the World Gould Council reported that central banks bought 400 tonnes of Gold in the third quarter, which according to last year’s data, was an increase of 300%, and it was the largest quantity of Gold bought since 2000.

That said, expectations for Gold resuming the uptrend lie in the hands of the Federal Reserve. Ahead of the week, the United States inflation report for October would keep investors on their toes as they assess the Fed-s next move. A US inflation jump wouldn’t deter Fed policymakers from tightening aggressively.

So if inflation moderates, that could be a tailwind for XAUUSD, which could benefit from “parked” US Treasury yields.

Gold Price Analysis: Technical outlook

Following Tuesday’s rally, which broke an eight-month-old downslope resistance trendline, the XAUUSD faces solid resistance at the 100-day Exponential Moving Average (EMA) at $1715.91. It should be said that Gold made a base at around the year-to-date lows of around $1614-$1617, and that zone was tested three times, with USD buyers unable to crack the $1600 figure. Therefore, a test of the August 25 daily high at $1765.48 is likely to happen, but XAU buyers need to clear the 100-day EMA.

Once done, the XAUUSD next resistance would be the August 22 daily low-turned-resistance at $1727.90, followed by the psychological $1750.

 



Source link

Previous Post

Bitcoin and crypto here to stay despite market turmoil: Community

Next Post

Grantee Roundup: January 2022 – Japan Local Grants Edition!

btclive365

btclive365

Next Post

Grantee Roundup: January 2022 - Japan Local Grants Edition!

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Stay Connected test

  • 23.8k Followers
  • 99 Subscribers
  • Trending
  • Comments
  • Latest

How to sell Bitcoin – Bitcoin Magazine

November 9, 2022

Add a Tangible Asset to Your Portfolio: Buy Gold

January 7, 2023

Building Bitcoin Standard In Portugal – Bitcoin Magazine

November 9, 2022

USD/ZAR Rallies as SA President Ramaphosa Faces Potential Impeachment

December 1, 2022

Bitcoin price hits 2-week lows as FTX ‘bank run’ drains BTC reserves

1

Building Homesteader Lifestyle With Bitcoin – Bitcoin Magazine

1

Arbitrum dealings activity rockets 550% since August: Delphi Digital

0

Bitcoin․com Doubles Down on Self-Custody With Launch of Verse DEX – Press release Bitcoin News

0

Banking turmoil pushes crypto to ‘no oversight,’ says Circle CEO

March 23, 2023

Why you should be excited about Radix on HitBTC

March 23, 2023

High Growth Potential: Cardano (ADA), Solana (SOL), Binance Coin (BNB), and Orbeon Protocol (ORBN) Set to Make Waves in 2023

March 23, 2023

EUR/GBP finds a cushion around 0.8800 as BoE believes inflation to fall rapidly

March 23, 2023

Recent News

Banking turmoil pushes crypto to ‘no oversight,’ says Circle CEO

March 23, 2023

Why you should be excited about Radix on HitBTC

March 23, 2023

High Growth Potential: Cardano (ADA), Solana (SOL), Binance Coin (BNB), and Orbeon Protocol (ORBN) Set to Make Waves in 2023

March 23, 2023

EUR/GBP finds a cushion around 0.8800 as BoE believes inflation to fall rapidly

March 23, 2023

We deliver up-to-date, breaking crypto news about the latest Bitcoin, Ethereum, Blockchain, NFTs, and Altcoin trends and happenings

Follow Us

Browse by Category

  • Altcoins
  • Bitcoin (BTC)
  • Blockchain
  • Crypto Mining
  • Cryptocurrency News Today
  • CryptoCurrency Predictions
  • Defi
  • Dogecoins
  • Earn Crypto
  • Ethereum (ETH)
  • Forex Trading
  • ICO
  • Litecoin ( LTC )
  • NFT
  • Ripple
  • Trend cryptocurrency

Recent News

Banking turmoil pushes crypto to ‘no oversight,’ says Circle CEO

March 23, 2023

Why you should be excited about Radix on HitBTC

March 23, 2023
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2022 btclive365 All Right Rivered .

No Result
View All Result
  • Home
  • Cryptocurrency News Today
  • Bitcoin (BTC)
  • Altcoins
  • Blockchain
  • Crypto Mining
  • CryptoCurrency Predictions
  • Defi
  • Dogecoins
  • Earn Crypto
  • Ethereum (ETH)
  • Forex Trading
  • ICO
  • Litecoin ( LTC )
  • NFT
  • Ripple
  • Trend cryptocurrency

© 2022 btclive365 All Right Rivered .

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In