Gold rose despite strong U.S. core PCE data
The gold (XAU) prices rose by 0.94% on Friday despite higher-than-expected U.S. сore Personal Consumption Expenditures (PCE) Price Index figures.
👉 Possible effects for traders
PCE numbers aligned with the forecast, increasing by 0.1% month-over-month and 2.5% year-over-year. The core PCE, excluding volatile prices for food and energy, slightly exceeded analyst projections, rising by 0.2% from May and 2.6% year-on-year. Personal income growth slowed to 0.2%, below the expected 0.4% in May, while disposable income rose by only 0.1%. Making up about 70% of the U.S. economy, consumer spending aligned with expectations of 0.3%. Spending on services and non-durables increased by 0.2% and 0.5%. Moreover, the saving rate dropped towards 3.4%, the lowest since December 2022. Bill Adams, chief economist at Comerica Bank, notes that ‘Americans who entered the recent bout of high inflation with narrow financial cushions are feeling pressure on their standards of living’.
Expectations for rate cuts remain unchanged, with markets pricing in a 100% rate reduction at the Federal Reserve (Fed) September meeting and anticipating one more rate cut by the year-end. Lower interest rates increase the appeal of gold and precious metals. Additionally, rising geopolitical tensions in the Middle East have bolstered safe-haven assets like gold. This follows Israel's vow of strong retaliation against Hezbollah after accusing the Iran-backed group of a weekend strike.
XAUUSD fell slightly during the Asian trading session. Today, the formal macroeconomic calendar is rather uneventful, so XAUUSD may remain under technical bearish pressure. If the conflict in the Middle East escalates, gold will move higher due to rising safe-haven flows. The key levels to watch are support at $2,350 and resistance at $2,420.
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Sell Gold @2393–2397
Sl :2399
Tp1 :2391.5
Tp2 :2389
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#Bitcoin(BTC) Payout for 26th July, 2024.
#Weekly_Payout
0.04423059 BTC
$2,983.95
https://www.blockchain.com/explorer/transactions/btc/bfe10ab1c92606f063ee90a224e74f51b0e9d77477ba76e88ca907d538407768
0.04663909 BTC
$3,146.44
https://www.blockchain.com/explorer/transactions/btc/bec67471dc27f317988264a1d61da82c2144d3ba393e48ac99f1207fd0134d37
1.75436893 BTC
$118,356
https://www.blockchain.com/explorer/transactions/btc/f4a3affbbda709d6d243709ed5c35ad31e00b848579f34fa16118e7b7541aca9
(COMPLETED LONG TIME CONTRACT)
0.10960451 BTC
$7,398.67
https://www.blockchain.com/explorer/transactions/btc/e59e13a2050a8c44902d7885e642c4959ee6c205308f4e39794df7197ebc8976
0.21925266 BTC
$14,800.28
https://www.blockchain.com/explorer/transactions/btc/3494e40eec4c73d09d6d88f388089216657cfdfe6934b6740a7e2f1a34c07567
0.01142332 BTC
$771.11
https://www.blockchain.com/explorer/transactions/btc/ee9ecd972e98cfdcd495eb4b19b2e66334211d337a91848a4d0c5b513d4c9461
0.64608745 BTC
$43,613.04
https://www.blockchain.com/explorer/transactions/btc/110e95a68be09645852165ea5227e52e3949375ab8af514eab7a0b5735d7694a
(COMPLETED CONTRACT)
0.00707905 BTC
$477.86
https://www.blockchain.com/explorer/transactions/btc/608224fa902092a546e6505173fab92ab11fc0e9941802b18fe17ccbf682703c
0.02409865 BTC
$1,627.24
https://www.blockchain.com/explorer/transactions/btc/ee54e542e07d4581f9f14ecaa31ac8346b9b6cd4814220fbe8292a4c418b6b0d
0.08241000 BTC
$5,564.66
https://www.blockchain.com/explorer/transactions/btc/e2e6227b8cc45f9804c21816256dc45d25b5f693c6dedbd03f91c82277c7f4f4
0.02040832 BTC
$1,378.05
https://www.blockchain.com/explorer/transactions/btc/a9e39c1f83bbd3dc541e7496507ef6bb3739acc94957171e0e21bb7df13245ef
0.00785775 BTC
$530.59
https://www.blockchain.com/explorer/transactions/btc/a5e1f0fd4782f2e5817a8da200094e5f63b9e262c507410a196baaa1b1ecbcc0
0.09138490 BTC
$6,170.68
https://www.blockchain.com/explorer/transactions/btc/45bd39e0844625bafdf00ca2cebcf6eedc9518d61b07c5f0ffd34c4855acf7d3
@Rihauw
@Rihauw
@Rihauw
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Bitcoin rebounds from $64,000 in anticipation of Trump’s pro-crypto statement
On Thursday, Bitcoin (BTC) rebounded from the $64,000 support level after falling on Tuesday amid a stock market fall and worsening sentiment for risk assets, including cryptocurrencies.
👉 Possible effects for traders
BTC's decline towards $64,000 resulted in the liquidation of over $250 million in long positions, marking it the most significant hit since early July. Overall, BTCUSD has fallen by 6% over the past three days. The decline came after the NASDAQ 100 Index experienced its largest drop since 2022, following mixed quarterly earnings reports from Alphabet—Google's parent company—and Tesla. So far, the pair continues to hold above the $64,000 level, providing a positive signal for bulls.
Recent macroeconomic data has further dampened crypto investors' sentiment. The U.S. economy grew at an annualised rate of 2.8% in Q2, surpassing the forecast of 1.9%. The upbeat Gross Domestic Product (GDP) report suggests that the Federal Reserve (Fed) has successfully defeated inflation without triggering a recession. This can be a negative development for BTC, as part of its appeal lies in being a hedge against inflation, a depreciating U.S. dollar, and decreased confidence in U.S. Treasuries. Thus, a strong U.S. economy makes alternative assets like BTC less attractive for investors.
BTCUSD rose this morning as former President Donald Trump will deliver a keynote speech at the 2024 Bitcoin Conference this weekend. Speculation is growing that Trump may announce Bitcoin as a strategic reserve asset for the U.S., potentially significantly impacting the cryptocurrency industry. Trump's pro-crypto stance has grown recently. He launched an NFT collection on Solana and named Ohio Senator James David Vance, a crypto advocate, his running mate. Traders should focus on the conference to gain insights into the potential future of the crypto market.
Strong U.S. data and profit-taking fuel gold sell-off
The gold (XAU) price plunged by 1.38% on Thursday as the U.S. Dollar Index (DXY) recovered swiftly from the 104.000 level due to better-than-expected U.S. macro statistics.
👉 Possible effects for traders
Yesterday’s U.S. macroeconomic reports showed a solid 2.8% annualised Gross Domestic Product (GDP) growth in Q2. Core durable goods orders rose by 0.5% in June—the fastest since January 2024—while initial jobless claims remained relatively stable. The better-than-expected data supported the U.S. dollar (USD), damaging gold's appeal even as traders continue to expect an interest rate cut by the Federal Reserve (Fed) in September.
Also, traders attribute the decline in XAUUSD to technical profit-taking. ‘There's definitely some profit taking going on, triggered by the weakness in the U.S. equity markets that was more than just a sell-off’, said Marex analyst Edward Meir. ‘We've been on a steep rise in the gold and silver market as of late ... so a combination of long liquidation and profit taking from the recent runs exacerbated the selling pressure’, said David Meger, director of alternative investments and trading at High Ridge Futures. At the same time, weakness emerged in the physical market as well. According to official customs data, China's gold imports through Hong Kong decreased by 18% in June compared to May, as higher gold prices dampened jewellery demand.
XAUUSD was rising during the Asian and early European trading sessions. Today, traders await the U.S. Personal Consumption Expenditures (PCE) Price Index, the Fed's preferred inflation indicator, due at 12:30 p.m. UTC. The data is important as it could clarify when the Fed will cut interest rates. According to Reuters, the market expects a 0.1% monthly core PCE rise and a 2.5% annual increase. Higher-than-expected figures will almost certainly pull DXY above 104.500, negatively affecting all precious metals. Otherwise, the short-term bearish trend in XAUUSD will continue, and the pair may drop towards $2,336. ‘Spot gold may test resistance at $2,382 per ounce, a break above which could open the way towards $2,389–$2,394 range’, said Reuters analyst Wang Tao.
Sell Gold @2373-2377
Sl :2379
Tp1 :2371.5
Tp2 :2369
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Читать полностью…BTCUSD, 30-minute timeframe chart
BTCUSD formed a bearish Engulfing pattern
👉Level explanation
BTCUSD has been trading in a bullish trend for the last couple of hours. The pair moved up to the resistance level of 69,869.80. Now, the price displays a bearish Engulfing pattern.
👉Possible scenario
The best way to use this opportunity is to place a Sell order at 69,561.92.
Set your stop loss at 70,004.17 above the previous high ($4.42 loss for 0.01 lot) and take profit at 69,119.66 ($4.42 profit for 0.01 lot).
The risk-reward ratio for this order is 1:1.
The upcoming news will not influence your orders within the mentioned period.
Some traders may close their positions on Friday, which can add more pressure to the market.
Incha Allah for the Greatful day!!
Success is a journey, not a destination. The doing is often more important than the outcome.
Success is the Motto!!
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I have 2 of my friends here they want to join the offer, sir, is it possible to deposit $3000 from the profit I received today, $1000 for my own, and $2000 is for them
Читать полностью…Congratulations to people that participate to our Account management Service [AMS] payout 💯 Weekly Earner.
#Bitcoin Cash (BCH) Payout for 27th July, 2024.
#Weekly_Payout
4.10716963 BCH
$1,615.80
https://www.blockchain.com/explorer/transactions/bch/f4f0a1a444f0aee529be9c00e37b59d9933762ef50bfff81d6a0a6e0b368997e
37.69340574 BCH
$14,828.96
https://www.blockchain.com/explorer/transactions/bch/a815f27fb6bee98d3714947bea5f264280ff2a49bac931475396ae7b0e0224a6
37.65505536 BCH
$14,813.88
https://www.blockchain.com/explorer/transactions/bch/49180bb5237384427f5923ec186fa348a006b7ad694c98dcc267ffe916aab142
16.64400213 BCH
$6,557.57
https://www.blockchain.com/explorer/transactions/bch/477133d6b5bcc9e02f3d84c601e56d5e755d0c609d0f8e0f17dad014eeffc020
3.43429267 BCH
$1,353.08
https://www.blockchain.com/explorer/transactions/bch/a3fed2e0b3a27967514a7b351f1f7378ded921f269e48e6c91fd7fad6c851bbc
2.43899616 BCH
$960.94
https://www.blockchain.com/explorer/transactions/bch/ed764dcec1293a1df5306b470d531bff9ab4c8fba1073000e5bcc613f7f8164c
15.66632715 BCH
$6,172.38
https://www.blockchain.com/explorer/transactions/bch/34defa0af490414cd0a51d025f787eec61198e878f969ac46910124e8c55c450
5.35096692 BCH
$2,108.23
https://www.blockchain.com/explorer/transactions/bch/5d7f12c0a8b322f1d2c65d8b652d8c6a62a70ac3d9e71697c50ccbea6013d04d
8.85555198 BCH
$3,489.00
https://www.blockchain.com/explorer/transactions/bch/22fa3abfab5cda8eab016e029efef77e3329f35f899ff5cfbd1bbf0dbbbb6eeb
7.71897499 BCH
$3,041.20
https://www.blockchain.com/explorer/transactions/bch/5df9b55cf9b2aa653f282bb978ce071a20b40dbab398eddbda5468d543f4322e
37.49378958 BCH
$14,742.18
https://www.blockchain.com/explorer/transactions/bch/b3a1310966c11c9b1ae13a78937a5e58643d1722784c499a0c62ac70430e2418
2.61569800 BCH
$1,028.47
https://www.blockchain.com/explorer/transactions/bch/16c395877ecd0e61712caac2b1faf113220d8adfe802a815dfcd4e2866c21f33
10.91412081 BCH
$4,291.32
https://www.blockchain.com/explorer/transactions/bch/82eab043cc880246b3df831375c75da4c395598fe9947a6c408654fd495eb3a2
3.62210105 BCH
$1,404.40
https://www.blockchain.com/explorer/transactions/bch/3df213648d1b0cb8787809ab66f350033e06d0ed5afe225c83d5f51f310c911e
22.45273415 BCH
$8,705.60
https://www.blockchain.com/explorer/transactions/bch/338256feb774363ab69c6517d8ccc669bf408c18443cf87ea7cc28b61249c34e
15.19221111 BCH
$5,890.48
https://www.blockchain.com/explorer/transactions/bch/70d7eb1ad9df129a07c482d25420efbc524de52767844120fe58860e6b8fc29f
@Rihauw
@Rihauw
@Rihauw
@Rihauw
Round 1 INSTANT 20pips✅
Let’s CLOSE our profit now and set breakeven if you wish to hold now‼️
What a great way to start our day🔥🔥🔥
EURUSD moves sideways ahead of the U.S. PCE data
On Thursday, EURUSD moved within the 1.08300–1.08650 range and gained 0.05%. The U.S. Dollar Index (DXY) gained 0.07% and closed just below the 104.400 resistance level.
👉 Possible effects for traders
The advance estimate of the U.S. Gross Domestic Product (GDP) Growth Rate for Q2 showed an increase of 2.8%, exceeding the expected 2% and the previous quarter's result of 1.4%. Meanwhile, initial unemployment claims decreased to 235,000, below the forecast of 238,000, from an upwardly revised figure of 245,000. Headline durable goods production significantly decreased but remained above expectations.
Today's U.S. PCE report for June could disrupt the current technical balance. The market expects the month-on-month PCE to increase by 0.1%, compared to 0% in May, while year-on-year PCE may decrease from 2.6% in May to 2.5% in June. The Federal Reserve (Fed) was satisfied with recent economic data indicating the disinflation. However, any upward surprise in the PCE data will reinforce EURUSD bears. ‘The U.S. economy has not run out of steam just yet, despite having restrictive interest rates for quite some time’, said Kristina Clifton, a senior economist at Commonwealth Bank of Australia. She anticipates the first rate cut in November: ‘We expect that the FOMC will require a long string of lower inflation readings before easing interest rates’.
EURUSD has been trading bullish during the Asian and early European trading sessions. The pair consolidated just below the 1.08600–1.08650 resistance zone. The U.S. PCE Price Index report will come out today at 12:30 p.m. UTC. A higher-than-expected number will exert bearish pressure on EURUSD, while a figure lower than the forecast will suggest a bullish outlook for the pair.
U.S. Elections: Trump will speak at Bitcoin conference
The world's largest Bitcoin conference started on Thursday, featuring many prominent speakers like Robert F. Kennedy Jr. and Vivek Ramaswamy. Still, the crypto market eagerly awaits Donald Trump's speech, which is due on Saturday at 6:00 p.m. UTC.
👉 Possible effects for traders
Trump is a Republican presidential candidate, and his opinion on the crypto industry in general and Bitcoin in particular will have a noticeable impact on crypto asset prices. Previously, he stood against the cryptocurrencies, calling them scams. However, his views have changed dramatically over the past few years, and now he seems to favour Bitcoin. According to Forbes, a respected U.S. business magazine, Trump's potential victory in November could positively affect the cryptocurrency market and Bitcoin. Bernstein agency analysts led by Gautam Chhugani suggest that the BTCUSD price is closely tied to the likelihood of Trump's victory.
BTCUSD may experience high volatility today and tomorrow. The pair has already grown by more than 2% in anticipation of Trump's speech and may reach the resistance level of $70,000 on Saturday.
#GoodMorning team‼️
Approach today with confidence and determination. ☝️
Set clear goals, manage your emotions, and always prioritize risk management. Here's to a productive trading day ahead! 💼💵
Fear is met and destroyed with courage. Again and again when the struggle seems hopeless and all opportunity lost, the one with a little more courage, and a little more effort will have victory.
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Attention, traders: don't miss the week's most influential event!
Tomorrow at 12:30 p.m. UTC, the U.S. Bureau of Economic Analysis will publish the Personal Consumption Expenditure (PCE) report. The report contains the latest U.S. consumer spending data and individual prices. This data release will likely affect the exchange rates of all USD pairs as it could impact the likelihood of a Federal Reserve (Fed) rate cut in September.
Most investors and traders will focus on the core PCE Price Index, the Fed's preferred inflation measure. According to Reuters, the market expects a 0.1% rise in the monthly core PCE Price Index. Should the figures come out higher than expected, EURUSD and XAUUSD will almost certainly drop. However, lower-than-expected results may push EURUSD and gold prices higher.
#Trading #Forex #WeeklyTradingCalendar #MarketUpdates #Investing
AND STRAIGHT TO TP2//70PIPS✅
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Sell Gold @2375.1-2379.1
Sl :2381.1
Tp1 :2373.6
Tp2 :2371
Enter Slowly-Layer with proper money management
Do not rush your entries