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SYMBOL
LAST
ASK
BID
HIGH
LOW
NET CHG.
%CHG.
SPREAD
SPX
S&P 500 Index
6976.45
6976.45
6976.45
6991.91
6916.63
+37.42
+ 0.54%
--
DJI
Dow Jones Industrial Average
49407.67
49407.67
49407.67
49484.95
48673.58
+515.21
+ 1.05%
--
IXIC
NASDAQ Composite Index
23592.10
23592.10
23592.10
23686.83
23356.40
+130.29
+ 0.56%
--
USDX
US Dollar Index
97.270
97.350
97.270
97.360
97.260
-0.140
-0.14%
--
EURUSD
Euro / US Dollar
1.18130
1.18138
1.18130
1.18136
1.17809
+0.00232
+ 0.20%
--
GBPUSD
Pound Sterling / US Dollar
1.36846
1.36856
1.36846
1.36852
1.36598
+0.00177
+ 0.13%
--
XAUUSD
Gold / US Dollar
4844.02
4844.41
4844.02
4855.89
4665.80
+185.42
+ 3.98%
--
WTI
Light Sweet Crude Oil
62.104
62.139
62.104
62.191
61.530
+0.022
+ 0.04%
--
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EuroTrader 
EuroTrader
EuroTrader
@MatthewFor Eurusd things are kinda different .I am on the lookout for longs on EURUSD as I am betting on a weak usd
Matthew 
Matthew
EuroTrader
EuroTrader
EuroTrader
Matthew
EuroTrader
Shadad 
Hello, how are you?
3513521 
Did anyone see me?
Believe 💯 
ow u
Charizard 
Hmmm has gold changed in this Asia opening?
marsgents 
gold might test low today becareful long
ANDY
Good morning all
IsuruDhana 
Good morning all
3519695 
hello
margopal
good morning 5151
budiarno
Wow, good morning to all fellow traders. May you be successful, amen.
3203406 
GOOD EVENING FROM LOS ANGELES
- All
- Russia-Ukraine Conflict
- Middle East Flashpoint
Slowing Rate Cut Expectations May Drive Short-Term Downturn
Summary:
December 18 saw the Fed's interest rate decision align with market expectations, cutting rates by 25bps. However, it also signaled a slower pace of future cuts, potentially weighing on gold in the short term.
CLOSED
2620.89
Entry Price
2551.00
TP
2641.50
SL
4844.09 +185.49 +3.98%
69.5
Pips
Profit
2551.00
TP
2613.94
Exit Price
2620.89
Entry Price
2641.50
SL
Fundamentals
On December 18, the Fed's latest rate decision showed a 25bp rate reduction, meeting market predictions. Simultaneously, the Fed projected a narrower 50bp cut for 2025.
The dot plot revealed a more hawkish tilt than in September, with diverse committee members supporting no change, 25bp, or 50bp cuts for 2025, hinting at a deceleration in rate cut frequency.
Moreover, Chairman Powell characterized the current phase as entering a "new stage," noting stronger economic growth, persistent inflation, and proximity to neutral interest rates after prior cuts.
Overall, gold might face downward pressure given the slowed future rate cut expectations.
Technical Analysis
After the interest rate decision, markets reacted with a straight decline, confirming that the rate cut was fully priced in, turning good news into bad. Followed by the slower future cut pace signal, gold tumbled sharply, reaching as low as $2,583.09.
A four-hour candlestick plunged below the previous support at $2,625, showcasing strong bearish force. Moving averages began tilting downwards, pointing to possible further decline.
Following the fall to $2,583.09, some shorts took profits, propelling a slight recovery. Gold now stands under resistance at $2,625. Weakening here suggests a continued decline, testing $2,575. Breaking $2,575 could prompt a revisit to the earlier low at $2,536.69.
Selling at highs is recommended.
Trading Recommendations
Trading direction: Sell
Entry price: 2620.00
Target price: 2551.00
Stop loss: 2641.50
Valid Until: Jan 2nd, 2025 23:00:00
Support: 2614.12/2583.09/2536.69
Resistance: 2625.00/2636.02/2651.62
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