#DXY
6 month can be bad for dollar also
If rejection hold them more down 🤷♂
Did you know that DXY been in a bears channel for 15years
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Yes but it didn't break the supply
Maybe it go to the demand again
Thank you all. Please I need someone to teach me how to analyse crypto. I just don't get how it plays. Just like Josh said, I barely gamble
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I quite like the idea of Buying Oil just looking at it now
Would see where price action is 2moz morning UK time see if we can get some longs through London.
If we are to continue high I can't see us going much lower than here but timings are out for me at the moment.
I am offering HFT prop firm passing, if interested dm me
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⚫Fed Policy and Banking Sector Concerns
The current gold market is influenced by a mix of factors including the Federal Reserve's hawkish stance and growing apprehensions within the banking sector.
Fundamental Analysis:
—Hawkish Fed and Dollar Strength:
The Fed's reluctance to implement near-term rate cuts typically boosts the U.S. Dollar, traditionally dampening gold prices. However, amidst ongoing economic complexities, gold is defying this norm, indicating its role as a safe-haven asset during times of market volatility.
—Falling Yields and Safe-Haven Demand:
The decline in U.S. Treasury yields is a significant driver of gold's attractiveness to investors seeking safety amidst uncertain economic conditions. This trend is bolstered by growing apprehensions surrounding the stability of the banking sector, exemplified by recent events at regional banks like New York Community Bancorp.
— Banking Sector Concerns:
Heightened scrutiny of the banking sector, particularly amid challenges faced by regional banks, is amplifying demand for safer investments. Developments such as the surprise loss and dividend cut by New York Community Bancorp have underscored concerns about sector stability, prompting investors to seek refuge in assets like U.S. Treasuries and gold.
Technical Analysis:
—Current Market Trends:
Gold prices, maintaining position above the 50-day moving average, indicating the continuation of the intermediate-term uptrend.
—Potential Price Movements:
A sustained upside momentum could drive prices towards the pivot level at $2067.00, potentially triggering an acceleration into new all-time highs. Conversely, failure to hold the 50-day MA might signal weakness, leading to a test of support at $2009.00 and potentially further decline towards the 200-day moving average at $1964.95.
Market Outlook:
Considering these factors, the short-term outlook for gold remains cautiously bullish. The balance between a hawkish Federal Reserve, a strong U.S. Dollar, falling Treasury yields, and banking sector anxieties presents a complex yet potentially favourable environment for gold prices. Traders are advised to anticipate volatility and closely monitor Fed policy decisions and banking sector developments as key determinants of gold's direction in the coming weeks.
#DXY
Since 2009 dollar made this channel and never breakout 🥶🥶🥶
#US30
This is how hard they push it and it break the top so have to wait profits taken
