News
7x24
Quotes
Economics Calendar
Video
Data
- Names
- Latest
- Prev.
Columns
Trending Topics
Russia-Ukraine Conflict
The war between Russia and Ukraine continues, and it is difficult for the two sides to reach an agreement in negotiations. Western countries have imposed several rounds of sanctions on Russia. The outlook is unpredictable.
The Fed
The Federal Reserve (Fed), or the central bank of the United States, is responsible for regulating the U.S. monetary policy and interest rates. As a provider of liquidity for world trade, the Fed is also known as the world's central bank. Its every move affects the global economy and financial markets.
China-U.S. Relations
Focus on Pelosi's Taiwan Visit ! How will China-U.S. relations develop in the future, win-win cooperation or confrontation?
FastBull Spotlights
Pick the most insightful news around the world for you!
Video
Latest Update
Full Course: Beginner’s Guide to Develop a Robust Deep-Learning Ai for Stock or Crypto Trading
This is the Guide on how to Develop a Robust Deep-Learning Ai for cryptocurrency investing for beginners, explaining the use of recurrent neural networks (RNN) for price changes and a linear layer for technical indicators, and presents a code snippet for building the AI model using PyTorch.
How to customize your own indicators and get over 2x of your asset returns?
An example of a customized indicator strategy that significantly increased BTC returns during a long bullish trend is presented, want to know the backtest results and codes of the strategy?
PEPE Has Surged Over 7000% Max In 1-Month! Buy It or Sell It?
PEPEcoin gained over 7000% in 1-month and surged to over 1.6 billion dollar market cap. Is there still a chance to buy from the technical indicators?
Supertrend Makes 4x of Gain! How to Use It? How to Code and Calculate?
An author shared the SuperTrend strategy Python code for TradingView. So I decided to give it a try, breaking it down step by step and running some tests to see if it really works.
Recent Searches
Trending Searches
View All
No data
Invite
XAUUSD: Be Prepared in Case of 'Surprises'
Summary:
Keep close attention to the debt ceiling negotiation and maintain a neutral strategy.
CLOSED
1950.00
ENTRY
1985.00
TGT
1920.00
SL
1969.26 -7.99 -0.40%
538
Points
Profit
1920.00
SL
1955.38
CLOSING
1950.00
ENTRY
1985.00
TGT
Fundamentals
During Thursday's (May 25th) Asian session, spot gold narrowly oscillated, and it is currently trading near $1959. After the negotiations between the two Parties, the U.S. House Speaker, Kevin McCarthy, gave the heaviest commitment as he is convinced that the debt negotiations with U.S. President Joe Biden will reach an agreement in time and can avoid a debt default. This statement largely appeased the market sentiment, with gold prices falling back in response, gaining support at the weekly low of $1954 and entering a small shock to the upside.
Today, the initial jobless claims and the U.S. first-quarter GDP data revisions will be announced. Investors should pay close attention to it, as well as further updates about the debt ceiling negotiations.
In general, the U.S. revealed mixed data currently, and the economy remains resilient, making investors cut their bets on a series of interest rate cuts this year. Moreover, the USDX continued to strengthen, refreshing more than two-month highs, while the U.S. treasury bond yields also maintain strong, suppressing the gold price more significantly. On the one hand, although debt default concerns still exist, the support provided to the gold price is valid. Because the market expected the negotiation to reach an agreement at the last minute according to historical results and the current efforts made by authorities. On the other hand, investors must beware that new consequences may be created, so stay alert to the risk of U.S. debt default. Meanwhile, even if the agreement is made at the last minute, the damage to the U.S. economy will be tremendous. If a default does occur, it may directly and quickly trap the U.S. in a recession. Although it is not likely, investors should not bet on the direction, but on tracking and response.
Today's trading range is $1950-$1985.
Technical Analysis
1H chart: Gold stably stood near the support at $1950 during the past week, forming a triangle pattern. Currently, MACD tends to form a golden cross, with the bearish momentum weakening. Nonetheless, the bullish momentum will fade if gold fails to break through the previous support at $1969, and the gold prices may plummet further after a short-term correction, leading to a declining trend.
If gold plunges further below $1950 shortly, it may fall again a test the support near $1910. More importantly, if the level of $1910 is lost, gold will enter a great range of consolidation in weekly levels, which will open further space below.
Trading Recommendations
Trading direction: Long
Entry price: 1950
Target price: 1985
Stop loss: 1920
Support: 1950.000/1910.000
Resistance: 1985.000/2000.000
Risk Warnings and Investment Disclaimers
You understand and acknowledge that there is a high degree of risk involved in trading with strategies. Following any strategies or investment methodologies is the potential for loss. The content on the site is being provided by our contributors and analysts for information purposes only. You alone are solely responsible for determining whether any trading assets, or securities, or strategy, or any other product is suitable for you based on your investment objectives and financial situation.
Quick Access to 7x24
Quick Access to More Editor-selected Real-time News
Exclusive video for free
FastBull project team is dedicated to create exclusive videos
Real-time Quotes
View more faster market quotes
More comprehensive macro data and economic indicators
Members have access to entire historical data, guests can only view the last 4 years
Member-only Database
Comprehensive forex, commodity, and equity market data
Focus on macroeconomic analysis with extra attention to the geopolitical impact on financial markets.
Related Analysis
XAUUSD: First Rebound in Place, Focus on Significant Data
PENDINGWTI: Oil Prices Fell Sharply When Accumulation Encounters Weak Demand
PENDINGXAUUSD: Perhaps the Pullback Is Over, Try to Go Long Properly
PROFIT +639 PointsXAUUSD: Buy Low and Sell High
PENDINGXAUUSD: Opportunities Are Possessed by both Long and Short at the Current Location
PENDING
English
English
العربية
繁體中文
简体中文
Bahasa Melayu
Bahasa Indonesia
ภาษาไทย
Tiếng Việt
Copyright © 2023 FastBull Ltd
Home News Columns 7x24 Economics Calendar Quotes Video Data WarehouseAnalysis AI Signal Pro User Agreement Privacy Policy About Us
Risk Disclosure
The risk of loss in trading financial assets such as stocks, FX, commodities, futures, bonds, ETFs or crypto can be substantial. You may sustain a total loss of the funds that you deposit with your broker. Therefore, you should carefully consider whether such trading is suitable for you in light of your circumstances and financial resources.
No consideration to invest should be made without thoroughly conduct your own due diligence, or consult with your financial advisors. Our web content might not suit you, since we have not known your financial condition and investment needs. It is possible that our financial information might have latency or contains inaccuracy, so you should be fully responsible for any of your transactions and investment decisions. The company will not be responsible for your capital lost.
Without getting the permission from the website, you are not allow to copy the website graphics, texts, or trade marks. Intellectual property rights in the content or data incorporated into this website belongs to its providers and exchange merchants.