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Trending
SYMBOL
LAST
BID
ASK
HIGH
LOW
NET CHG.
%CHG.
SPREAD
SPX
S&P 500 Index
6920.92
6920.92
6920.92
6965.70
6919.18
-23.90
-0.34%
--
DJI
Dow Jones Industrial Average
48996.07
48996.07
48996.07
49621.43
48951.99
-466.00
-0.94%
--
IXIC
NASDAQ Composite Index
23584.26
23584.26
23584.26
23723.37
23504.22
+37.10
+ 0.16%
--
USDX
US Dollar Index
98.820
98.900
98.820
98.990
98.740
-0.100
-0.10%
--
EURUSD
Euro / US Dollar
1.16477
1.16484
1.16477
1.16598
1.16359
+0.00058
+ 0.05%
--
GBPUSD
Pound Sterling / US Dollar
1.34429
1.34437
1.34429
1.34586
1.34190
+0.00222
+ 0.17%
--
XAUUSD
Gold / US Dollar
4631.56
4631.97
4631.56
4641.84
4588.51
+45.46
+ 0.99%
--
WTI
Light Sweet Crude Oil
61.659
61.689
61.659
61.804
60.145
+0.803
+ 1.32%
--
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EuroTrader 
EuroTrader
EuroTrader
Ikeh Sunday 
EuroTrader
3104157
RIP to those who followed cocobanana
Lonewolve 
EuroTrader
SlowBear ⛅
SlowBear ⛅
SlowBear ⛅
Guys 2min to the PPI - lts gear up and prepare for impact
SlowBear ⛅
3104157
RIP to those who followed cocobanana
@Visitor3104157 lol 😂 
what happens to coconanana? Burnt offerings 
what happens to coconanana? Burnt offerings EuroTrader
SlowBear ⛅
SlowBear ⛅
SlowBear ⛅
Data is out also mixed, just like we had on CPI yesterday - now its pretty silent here and on the USD pairs
SlowBear ⛅
miki maka 
I wait to buy Gold
anissatulqhoiriyah 
EuroTrader
P4J3str4d3s 
Hello guys
P4J3str4d3s
hello
- All
- Russia-Ukraine Conflict
- Middle East Flashpoint
Trading Overcrowded, Be Careful of Short-Term Retracement
Summary:
The USDX may rebound in the short term as bearish news is released, and gold may retrace in the short term.
CLOSED
1888.00
Entry Price
1838.00
TP
1928.00
SL
4631.56 +45.46 +0.99%
400.0
Pips
Loss
1838.00
TP
1928.10
Exit Price
1888.00
Entry Price
1928.00
SL
Fundamentals
Since last October, the market has been optimistically expecting the Fed to slow down interest rate hikes because of the continuous slowdown in U.S. inflation data. However, based on Fed Chairman Powell's speech and the information revealed in the minutes of the December monetary policy meeting, the market may have underestimated the Fed's determination to raise interest rates to curb inflation. Also, such over-optimism is not expected by the Fed, which will stimulate and make inflation harder to manage. Thus, the market needs to be in line with the Fed fully and adequately to curb inflation. If the market starts to be optimistic about the late interest rate trend now, it will trade the easing results first, and inflation will be harder to control sufficiently.
Although the December employment data saw a marginal easing in the labor market and payrolls cooling, the unemployment rate is at a half-century low, and the high ratio of job openings to the number of unemployed are both indicating that the labor market is still tight, and it is still too early to talk about rate cuts and stopping rate hikes. It is better not to underestimate the Fed's determination to raise rates. In addition, the eurozone's inflation cooled unexpectedly, which may fail to support the ECB's continuous hawkishness, and the USDX may rebound soon.
In general, the USDX will top this year, and the long end interest rate will drop. Nevertheless, short-term trading is overcrowded, so it is recommended to be careful of the gold retracement under the short-term policy expectations change.
Technical Analysis
Regarding the daily chart, MACD forms a golden cross, with the moving averages lining closely. Besides, before losing the 10-day moving average of 1845.80, gold tends to oscillate upward. Furthermore, the initial resistance is close to 1880, while the next resistance is near 1892.4, with further resistance in 1900. The stronger resistance is next to 1919.81, which is also the high of April 29th. Currently, the doji star has shown in 3 days continuously, indicating a topping pattern soon. 
Trading Recommendations
Trading direction: Short
Entry price: 1888.000
Target price: 1820.000
Stop loss: 1925.000
Support: 1859.320/1818.500
Resistance: 1900.000/1919.800
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