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Forex Indicator

Market Structure All In One Indicator

Market Structure All In One Indicator – FREE Download [Update] The Market Structure All In One Indicator is a versatile tool for traders that delivers real-time analytics, covering various key elements of market structures. These include internal and swing market structures, order blocks, premium and discount zones, Fair Value Gaps (FVGs), equal highs and lows, and much more. Think of it as a Swiss Army knife for price-action traders, equipping you with all the essential insights to make informed trading decisions. Why Choose “Smart Money Concepts”? Smart Money Concepts (SMC), also known as Smart Market Structure (SMS), refer to trading strategies focused on tracking the actions of institutional traders, such as banks, hedge funds, and other large players. These participants execute trades that can drastically impact market direction. By understanding where and when these institutions may place buy or sell orders, traders can align their strategies to capture price movements more effectively. The Market Structure Indicator helps to identify these opportunities, offering insights that allow traders to maximize their entry and exit points. Key Features of the Market Structure All In One Indicator 1. Real-Time Market Structure Analysis The indicator constantly labels both internal and swing market structures as they evolve. Key events like Break of Structure (BOS) and Change of Character (CHoCH) are automatically highlighted, offering a clear overview of the market in real time. 2. Structure Breakthrough Options You can choose how market breakthroughs are indicated—whether by Wick, Body, or Two Candles—allowing you to customize your analysis for better clarity and precision. 3. Order Blocks Identification The indicator identifies bullish and bearish order blocks, especially those associated with significant trading volume. This helps in locating areas where the market might see a momentum shift, enabling traders to make more informed decisions. 4. Supply and Demand Zones It detects strong imbalance zones, identifying potential trading opportunities where supply and demand levels could lead to price movement. 5. High Timeframe Analysis The tool supports high timeframe features such as BigBar, HTF-BOS, HTF-CHoCH, HTF-OB, and HTF-Swing High/Low, providing insights into the broader market trends beyond just short-term movements. 6. Multi-Timeframe Dashboard For traders who want a broader market view, the optional multi-timeframe dashboard allows you to analyze up to four different time periods simultaneously. This feature is particularly useful for monitoring both short-term and long-term market movements. Additional Analytical Tools in Market Structure Indicator 1. Fractal Points and Fibonacci Retracement The indicator includes tools for analyzing Fractal Points and Fibonacci Retracement levels, helping traders identify potential reversal points in the market. 2. BSL/SSL Taken Detection The indicator detects when buy/sell stop levels (BSL/SSL) are taken out, signaling potential market direction changes that traders can capitalize on. 3. Equal Highs & Lows The tool spots areas of equal highs and lows, identifying zones of liquidity that can act as future price targets. 4. Fair Value Gaps (FVG) The indicator automatically detects Fair Value Gaps (FVG)—price gaps that could represent trading opportunities. These gaps occur when the market moves too quickly for all buy and sell orders to be executed, often leading to future price corrections. 5. Liquidity Voids It highlights areas of liquidity voids, where the absence of liquidity might lead to sudden, significant price movements. 6. Previous Highs & Lows The indicator marks previous highs and lows, helping traders identify potential support and resistance zones for future price movements. 7. Premium & Discount Zones This feature identifies whether the market is in a premium (overbought) or discount (oversold) zone, helping traders decide on optimal buying or selling opportunities. 8. Long Wicks Detection Long wicks on candles often indicate potential market reversals. The indicator points out these candles, giving traders early warning signals for upcoming trend changes. 9. Market Time Zones The tool includes various market time zones like the Asian Range, London Killzone, AM NY Killzone, PM NY Killzone, and NY Midnight Open. This allows traders to focus on key market sessions when trading activity tends to be higher. 10. NWOG/NDOG Detection It spots the New Week Open Gap (NWOG) and New Day Open Gap (NDOG), useful for identifying potential trading gaps at the start of a new trading day or week. 11. Candle Timer This feature provides a countdown to the close of the current candle, helping traders with their trade timing by showing how much time remains in a specific time frame. How This Indicator Benefits Traders The Market Structure All In One Indicator is designed to simplify and automate the market analysis process. By integrating a wide range of analytical tools and methodologies into one platform, it helps traders quickly identify market structures, potential entry and exit points, and significant price movements. Moreover, traders can set up alerts for almost every price characteristic tracked by the indicator, meaning you don’t have to be glued to your screen. Whether you’re a beginner or a seasoned trader, this tool enhances decision-making by offering deep market insights in real time. Is This Indicator for Everyone? While the Market Structure All In One Indicator can benefit traders at all levels, it’s essential to remember that it is not a standalone trading system. It works best when used in conjunction with a broader trading strategy and technical analysis. Traders can also benefit from practicing with this tool on a demo account before going live. Most Forex brokers offer free demo accounts, making it easy to hone your skills risk-free. . . Final Verdict The Market Structure All In One Indicator is a comprehensive tool that brings together numerous trading features into a single platform. From real-time market structure analysis to advanced features like Fair Value Gaps, liquidity voids, and multiple timeframe analysis, this indicator offers traders valuable insights. Whether you’re just starting out or are an experienced trader, this tool can streamline your analysis and improve your trading strategy, giving you the edge needed in today’s fast-moving markets.

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Commodities Commodity News Gold Gold News News Real Time News

Gold Price Reverses Part of Wednesdays Slide Amid Softer USD and Geopolitical Tensions

Gold Price Reverses Part of Wednesdays Slide Amid Softer USD and Geopolitical Tensions Gold price (XAU/USD) has regained some positive momentum, reversing part of its retracement from the previous day’s all-time high. The precious metal climbed to the $2,736-$2,737 range during the European session, recovering from Wednesday’s corrective slide. Geopolitical risks, coupled with US political uncertainty ahead of the November 5 Presidential election, have contributed to the renewed safe-haven demand for gold. Additionally, a modest pullback in the US Dollar (USD) and retreating US Treasury bond yields have further bolstered the yellow metal’s price. Key Factors Supporting Gold’s Rally 1. Geopolitical Risks and Safe-Haven Appeal Gold has historically been viewed as a safe-haven asset during times of geopolitical tension. Ongoing conflicts in the Middle East, particularly the escalating violence between Israel and Hezbollah, have increased demand for gold. The recent Israeli air strikes on southern Lebanon and Beirut suburbs, in response to rocket fire from Hezbollah, have heightened concerns over further military escalation in the region. Additionally, Israel’s impending retaliation against Iran for its ballistic missile attack on October 1 has further fueled demand for safe-haven assets like gold. 2. US Political Uncertainty Ahead of the Election The upcoming US Presidential election on November 5 is creating uncertainty in the markets. The potential for economic instability depending on the election outcome has prompted investors to seek refuge in gold. Market participants are closely watching the chances of former President Donald Trump winning the election, which has sparked speculation about the possibility of inflation-inducing tariffs. Furthermore, concerns over deficit spending from both Vice President Kamala Harris and Trump’s plans have led investors to flock to gold as a hedge against economic volatility. 3. USD Pullback and Retreating US Treasury Yields The USD has seen a slight pullback from its nearly three-month highs, providing additional support to gold prices. After reaching a multi-month peak, US Treasury bond yields have also retreated, triggering profit-taking in the USD. This, in turn, has benefited the non-yielding gold, as lower bond yields reduce the opportunity cost of holding the precious metal. Headwinds for Gold’s Upside 1. Fed Rate Cut Expectations and USD Dip-Buying While gold has gained support from the softer USD and lower bond yields, the Federal Reserve’s monetary policy stance is likely to limit further gains. The Fed is expected to implement smaller interest rate cuts over the next year. The CME Group’s FedWatch Tool indicates that traders are pricing in over a 90% probability that the Fed will lower borrowing costs by 25 basis points in November. This cautious approach by the Fed may cap any significant decline in US bond yields, which could prompt USD dip-buying and limit gold’s upside potential. 2. Robust US Economic Data Recent robust US macroeconomic data have suggested that the US economy remains on strong footing, reducing the likelihood of aggressive rate cuts by the Fed. This has dampened hopes for more dovish monetary policy, which could have otherwise fueled a stronger rally in gold prices. As the Fed proceeds with modest rate cuts, the US economy’s resilience could act as a headwind for gold, especially if the USD regains strength. Technical Outlook: Gold Price at a Crossroads From a technical perspective, the recent breakdown below a short-term ascending trend-channel support may signal a shift in gold’s trajectory. The break below the $2,730-$2,732 area, which had previously served as an immediate support level, has now turned into a resistance zone. Traders should exercise caution, as the negative oscillators on the hourly charts suggest that the path of least resistance for gold is likely to be to the downside in the short term. Key Support Levels The $2,700 mark is now a critical support level for gold. A convincing break below this psychological level could open the door for further downside momentum. The next target for bearish traders would be the $2,685 level, which serves as an intermediate support zone. If the corrective decline accelerates, the $2,672-$2,670 range, a strong horizontal resistance turned support, would be the next significant level to watch. Key Resistance Levels On the flip side, if gold manages to regain its upward momentum, the first resistance level lies in the $2,730-$2,732 area, which coincides with the ascending trend-channel support breakdown point. A break above this level would indicate that the uptrend is intact, and gold could then target the $2,750 region. Should the bullish momentum persist, the next significant resistance would be found in the $2,770-$2,775 zone, followed by the $2,800 round figure. A sustained move above $2,800 would likely signal a continuation of gold’s long-term uptrend. Outlook: Cautious Optimism for Gold Traders Despite the current recovery in gold prices, traders should approach the market with caution. The broader fundamental backdrop, including the Fed’s rate cut expectations and strong US economic data, suggests that gold’s upside may be limited in the near term. The geopolitical risks and US political uncertainty, however, continue to offer some support for the safe-haven asset. Investors will now turn their attention to the release of the flash Purchasing Managers’ Index (PMI) data from the US, which could provide further insights into the health of the global economy. A stronger-than-expected PMI reading could boost the USD, putting downward pressure on gold. Conversely, weaker data could prompt further profit-taking in the USD, supporting gold prices. Mixed Signals for Gold Gold’s current rally has been supported by softer USD and geopolitical risks, but the overall outlook remains mixed. While safe-haven demand continues to underpin the yellow metal, the Fed’s cautious approach to interest rate cuts and strong US economic data may cap significant gains. From a technical standpoint, gold’s price action suggests that the path of least resistance could be to the downside, at least in the short term. Traders should keep an eye on key support and resistance levels, as well as upcoming macroeconomic data, to gauge the next move in gold prices.

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Currencies EUR/USD EUR/USD News News Real Time News

EURUSD Recovers from Multi-Month Low Approaches 1.0800 Ahead of Flash PMIs

EURUSD Recovers from Multi-Month Low Approaches 1.0800 Ahead of Flash PMIs The EUR/USD pair witnessed a modest recovery during Thursday’s Asian trading session, gaining traction after a three-day losing streak that pushed the pair to its lowest level since early July. Amid a slight pullback in the US Dollar (USD), the Euro managed to climb closer to the 1.0800 mark. However, the overall market sentiment remains cautious, especially for bullish traders, given the current fundamental backdrop. EUR/USD Recovery Amid USD Weakness The EUR/USD pair has been under pressure in recent weeks, largely due to the strength of the US Dollar, which has benefited from rising US Treasury yields. On Wednesday, the pair touched its lowest point in months at 1.0760. However, Thursday’s session saw a modest rebound as the USD faced a slight downturn. This pullback in the USD was triggered by profit-taking, following a strong rally in US Treasury bond yields, which had reached their highest levels since late July. US Treasury Yields and Their Impact on USD US Treasury yields have been on the rise, driven by market expectations of a steady economic outlook and uncertainty surrounding the US Presidential election scheduled for November 5. This had strengthened the USD in recent weeks. However, the recent retreat in yields has led to some profit-taking on the USD, offering temporary relief for the EUR/USD pair. Despite this, the overall trend for the Greenback remains bullish due to expectations of modest rate cuts by the Federal Reserve (Fed), which continues to drive safe-haven flows into the USD. Fed Rate Cut Expectations Limit EUR/USD Gains The Federal Reserve’s monetary policy has been a key driver of the USD’s strength. Market participants widely believe that the Fed will proceed with a cautious approach toward rate cuts. The central bank is expected to reduce interest rates gradually to ensure economic stability without triggering inflationary pressures. This expectation of a “less aggressive” policy easing by the Fed has provided some support to the USD, limiting its downside. Caution in EUR/USD Amid Dovish ECB Outlook On the other hand, the Euro remains weighed down by dovish signals from the European Central Bank (ECB). The central bank is facing growing pressure to introduce further policy easing to combat sluggish inflation and economic growth in the Eurozone. The annual inflation rate in the Eurozone dropped to 1.7% in September, falling below the ECB’s 2% target for the first time since June 2021. This has reinforced the view that the ECB’s disinflationary measures are working, but it also increases the likelihood of additional rate cuts. ECB Officials Signal Possible Rate Cut in December Several ECB officials have recently hinted at the possibility of a significant rate cut in December. ECB member Mario Centeno highlighted that downside risks are dominating both growth and inflation, suggesting that a 50 basis points (bps) rate cut could be on the table. ECB’s Bostjan Vasle also pointed out that recent economic data presents risks that could delay the expected improvement in the Eurozone’s growth outlook. These dovish signals have tempered any aggressive bullish sentiment for the EUR/USD pair, as traders remain wary of the potential for further ECB policy easing. The prospect of a significant rate cut in December, combined with weak inflation data, is likely to keep a lid on any meaningful appreciation for the Euro. Flash PMI Releases: Key Focus for Traders Looking ahead, market participants are eagerly awaiting the release of the flash Purchasing Managers’ Index (PMI) data from both the Eurozone and the US. These PMI prints will provide crucial insights into the health of the global economy, particularly in the manufacturing and services sectors, and could influence broader risk sentiment. Eurozone PMI Data The Eurozone’s PMI figures will be closely watched, as they will offer a glimpse into the region’s economic performance amid a challenging macroeconomic environment. Weak PMI data could further reinforce expectations of additional ECB easing, putting downward pressure on the Euro. Conversely, stronger-than-expected PMI readings could offer some support to the shared currency. US PMI Data and Its Influence on USD Similarly, the US PMI data will play a pivotal role in shaping the outlook for the USD. Strong PMI figures could bolster expectations of continued economic resilience in the US, reinforcing the Fed’s cautious approach to rate cuts. This could provide further support for the USD, limiting the upside potential for EUR/USD. On the other hand, weaker-than-expected US PMI data could trigger a deeper pullback in the USD, offering the Euro some room to appreciate. Broader Market Sentiment and Risk Factors Beyond the PMI releases, broader market sentiment will also be influenced by several other factors, including US bond yields and geopolitical events. The ongoing nervousness surrounding the upcoming US Presidential election on November 5 is likely to keep investors cautious, favoring the USD as a safe-haven asset. Additionally, any surprises in US bond yield movements could provide fresh impetus for the USD, directly impacting the EUR/USD pair’s trajectory. For now, however, the fundamental backdrop suggests that the path of least resistance for the EUR/USD pair remains to the downside, as the USD continues to benefit from safe-haven demand and the prospect of modest Fed rate cuts. Cautious Optimism for EUR/USD Bulls While the EUR/USD pair has recovered from its recent multi-month lows, the outlook for the pair remains clouded by several risk factors. The modest pullback in the USD offers temporary relief for the Euro, but the fundamental backdrop—including dovish ECB signals and expectations of further rate cuts—suggests limited upside potential. Traders should remain cautious, particularly ahead of the flash PMI releases, which could provide fresh direction for the pair. Ultimately, the broader trend for EUR/USD appears to favor the USD, with the Euro facing headwinds from weaker economic data and ECB policy easing.

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Forex Indicator

5 Best Indicators for Your Trading [Free Downloads]

5 Best Indicators for Your Trading [Free Downloads] Trading in the Forex market can be both exciting and challenging, but having the right tools can make all the difference in your results. Indicators provide traders with crucial insights that can help guide decisions, improve accuracy, and maximize profits. In this article, I will introduce you to the 5 Best Indicators for Trading, all of which are free to download. These indicators have been carefully selected for their effectiveness in different trading styles and market conditions, making them invaluable for both beginners and experienced traders. Let’s dive into each of these indicators, why I recommend them, and how they can enhance your trading strategy. Best Scalping Indicator What is it? The Best Scalping Indicator is a powerful tool designed to deliver accurate, real-time buy/sell signals in fast-moving markets. It automatically detects key trading levels and filters out market noise, making it highly adaptable to both scalping and swing trading styles. Additionally, this indicator offers a multi-tiered profit-taking system that helps you secure gains at various levels, enhancing your overall profit potential. Key Features: Why I Chose It I selected this as one of my go-to indicators because it provides precise and timely trading signals, which are critical for scalping strategies. Its ability to offer multiple profit levels and filter out noise makes it a versatile tool for traders who want to execute quick trades with confidence. Market Structure All-In-One Indicator What is it? The Market Structure All-In-One Indicator is a comprehensive tool designed to help traders analyze market trends and structures. It includes features such as order blocks, supply and demand zones, and liquidity zones. Moreover, it integrates key Smart Money Concepts (SMC) into one platform, making it easy to understand the big picture across multiple timeframes. Key Features: Why I Chose It This indicator is a must-have because it combines several key tools into one easy-to-use interface. The ability to see market structure, liquidity zones, and Fibonacci retracement all in one place saves time and simplifies analysis, which is crucial for traders looking for comprehensive market insight. Best Currency Strength Meter What is it? The Best Currency Strength Meter allows traders to analyze the relative strength of different currencies, giving you an edge when trading Forex pairs. This tool is particularly useful for identifying strong trends and potential reversals, as it shows which currencies are currently outperforming or underperforming. Key Features: Why I Chose It I selected this indicator because it simplifies the process of monitoring currency strength across multiple pairs, making it easy to identify trading opportunities. Whether you’re a day trader or swing trader, knowing which currencies are the strongest or weakest can help you make more informed decisions. Supply and Demand Indicator What is it? The Best Supply Demand Indicator automatically identifies zones of high buying and selling pressure on your chart. By using advanced algorithms, this tool highlights areas where buyers and sellers are likely to create price imbalances, allowing you to set optimal entry and exit points. Key Features: Why I Chose It Understanding supply and demand is crucial for any trader, and this indicator makes it easy by automatically identifying these zones. I find this tool invaluable for setting up high-probability trades based on market imbalances, whether I’m looking for quick scalps or longer-term trades. Fibonacci Golden Zone Indicator What is it? The Fibonacci Golden Zone Indicator automates the drawing of Fibonacci retracement levels, a critical tool for many traders. By highlighting key price levels based on Fibonacci ratios, this indicator helps you identify potential reversal points with precision. Key Features: Why I Chose It Fibonacci levels play a crucial role in my trading strategy, and this indicator simplifies the process by drawing these levels automatically. This tool is perfect for identifying key retracement and extension levels, which are often where significant price action occurs. Its ability to work across multiple timeframes makes it even more powerful. . [Bonus] 123 Pattern Indicator What is it? The 123 Pattern Indicator is designed to identify reversal patterns in the market, making it easier for traders to spot trend changes. This indicator automatically detects 123 patterns on your chart, providing timely opportunities for trade entries and exits. Key Features: Why I Chose It The 123 Pattern Indicator is one of the best tools for catching early trend reversals, which can lead to substantial profits. I recommend this indicator for anyone looking to capitalize on shifts in market direction, whether you’re a short-term trader or prefer holding longer positions. Final Lookout of 5 Best Indicators To summarize, the 5 Best Indicators for trading are essential tools that can give you a distinct edge in the Forex market. Here’s a quick recap: These indicators, when combined, offer a robust toolkit for any Forex trader. Whether you’re a scalper, day trader, or swing trader, these tools can significantly enhance your decision-making process. Download them now and take your trading strategy to the next level!

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AUD/USD Currencies Forex News News Real Time News

AUDUSD: Expected to Trade in a Sideways Range of 0.6660/0.6695 – UOB Group

AUDUSD: Expected to Trade in a Sideways Range of 0.6660/0.6695 – UOB Group The Australian Dollar (AUD) is currently expected to trade within a narrow sideways range of 0.6660/0.6695, according to analysts from UOB Group. While short-term fluctuations are anticipated, the long-term outlook still signals weakness for the AUD, with the key support level to watch being 0.6620. Analysts Quek Ser Leang and Lee Sue Ann of UOB Group provide insights into this forecast, noting that rejuvenated momentum could keep the AUD under pressure. Below, we examine the details of their analysis and provide an outlook for both short-term and long-term expectations. Short-Term Outlook for AUD/USD: Sideways Trading Expected 1. Recent AUD/USD Movements In the last few days, the AUD/USD pair has exhibited some volatility, with the Australian Dollar initially dropping sharply before experiencing a rebound. Two days ago, the AUD witnessed a significant decline, sparking concerns that the currency might be entering a phase of extended weakness. However, the AUD recovered, closing at 0.6683 with a modest gain of 0.36%, signaling a potential shift into a sideways trading phase. UOB Group’s analysts highlighted that while the AUD had dropped sharply, they had anticipated further declines in the near term. However, the subsequent rebound suggests that the currency might be temporarily stabilizing within a narrow range. Based on this, they expect the AUD/USD to trade between 0.6660 and 0.6695 in the immediate future. 2. Sideways Trading Range of 0.6660/0.6695 According to UOB Group’s 24-hour view, the AUD appears to have entered a consolidation phase. The analysts anticipate that the currency pair will trade within a narrow sideways range of 0.6660 to 0.6695 in the near term, reflecting a lack of clear directional momentum. This suggests that while the AUD has rebounded, it is not yet showing strong signs of an upward breakout. The sideways trading pattern indicates that traders should expect limited price movement in the short term, with resistance at the 0.6695 level and support at 0.6660. This range-bound trading is likely to persist until a significant catalyst emerges to drive the currency pair in either direction. Long-Term Outlook: AUD Weakness Remains Intact 1. Rejuvenated Momentum Suggests Continued Weakness Despite the short-term stabilization, UOB Group’s analysts emphasize that the broader momentum for the AUD remains weak. In their 1-3 week view, they note that the Australian Dollar has been under pressure since early October, and recent movements suggest that this weakness is still in play. The analysts highlight that rejuvenated momentum could keep the AUD in a downward trajectory, with the key support level to monitor being 0.6620. A break below this level would likely signal a further decline in the currency, reinforcing the bearish outlook for the AUD in the medium term. 2. Resistance at 0.6705: Stabilization or Further Declines? While the AUD has rebounded slightly, UOB Group’s analysts caution that the currency’s weakness has not necessarily reversed. They point out that the level to watch on the upside is 0.6705, which serves as a strong resistance point. If the AUD/USD pair breaks above this level, it could indicate that the recent weakness has stabilized, potentially leading to further gains. However, as long as the AUD remains below this resistance level, the outlook for the currency remains bearish. Traders should keep an eye on both the 0.6620 support level and the 0.6705 resistance level for indications of future price movements. Factors Impacting AUD/USD Performance 1. Australian Economic Outlook The broader economic outlook for Australia is a key factor influencing the performance of the AUD. Economic indicators such as employment data, inflation, and GDP growth will play a critical role in shaping the currency’s trajectory. If Australia’s economic performance weakens, the AUD could face further downward pressure, especially if global economic conditions deteriorate. In particular, the Reserve Bank of Australia’s (RBA) monetary policy decisions will be closely watched. Any indication of dovish monetary policy, such as further interest rate cuts, could weigh on the AUD and contribute to continued weakness. 2. Global Risk Sentiment The AUD is often viewed as a risk-sensitive currency, meaning its value is closely tied to global risk sentiment. When investors are more risk-averse, the AUD tends to weaken as capital flows into safe-haven assets like the US Dollar. On the other hand, improving risk sentiment can support the AUD, as investors seek higher-yielding assets. Recent global events, such as geopolitical tensions, trade uncertainties, and concerns over global economic growth, have impacted risk sentiment. Should these factors persist or intensify, the AUD could remain under pressure in the coming weeks. 3. US Dollar Strength The strength of the US Dollar (USD) is another crucial factor influencing the AUD/USD pair. The USD has remained strong in recent months, supported by higher US Treasury yields and expectations that the Federal Reserve will maintain a relatively hawkish stance. As long as the USD remains strong, it will be difficult for the AUD to gain significant ground against the greenback. Any shifts in Federal Reserve policy, such as indications of more aggressive interest rate cuts, could weaken the USD and provide some relief to the AUD. However, for now, the USD’s strength continues to be a headwind for the Australian Dollar. Technical Analysis: Key Levels to Watch 1. Support Levels The key support level to watch for the AUD/USD pair is 0.6620. A break below this level would signal a continuation of the recent downtrend, potentially leading to further declines in the currency. If the AUD fails to hold above this support, it could test lower levels in the coming weeks, reflecting continued weakness. In the short term, the 0.6660 level also serves as a minor support level, within the expected sideways trading range. 2. Resistance Levels On the upside, the key resistance level is 0.6705. A break above this level could signal that the recent weakness in the AUD has stabilized, leading to a potential recovery. However, until this resistance is breached, the bearish outlook remains intact. In the immediate term, traders should watch the 0.6695 level

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Analysis Forex News News Real Time News Technical Analysis

USD Momentum and FX Volatility Concerns

USD Momentum and FX Volatility Concerns The US Dollar (USD) has recently shown signs of losing momentum, despite the Dollar Index (DXY) firming slightly above the 104 level. Chang Wei Liang, DBS’ FX & Credit Strategist, highlights that while the USD has held strong, its upward trajectory may be tapering off. A combination of factors, including the re-pricing of US short-term rates and political uncertainty in the US, could contribute to this shift. This article delves into the reasons behind the fading USD momentum and the broader implications for foreign exchange (FX) volatility. USD Momentum Fades 1. Repricing of US Short-Term Rates Nears Completion One of the primary factors impacting USD momentum is the repricing of US short-term interest rates. Over the past few months, markets have adjusted their expectations for the Federal Reserve’s (Fed) monetary policy, particularly regarding interest rate cuts. According to DBS’ Chang Wei Liang, the market has already factored in less than two 25 basis point (bps) rate cuts over the next two Federal Open Market Committee (FOMC) meetings. This suggests that any further adjustments in rate expectations may have a limited impact on the USD’s performance. The completion of this repricing could indicate that the period of rapid USD appreciation driven by rate hikes may be coming to an end. With fewer rate cuts expected in the near term, there is less room for the USD to gain further ground based solely on interest rate differentials. 2. US Political Landscape Weighs on the Dollar In addition to the repricing of rates, the political environment in the United States is also influencing USD momentum. The upcoming presidential election, set to take place in November, is a significant source of uncertainty. Polls show closely matched numbers between President Joe Biden and former President Donald Trump, particularly in key swing states. Markets have already begun to price in Trump’s chances of winning the presidency, which could bring about significant shifts in economic and trade policies. Trump’s previous term saw the implementation of tariffs and other inflationary measures, which had mixed effects on the USD. The uncertainty surrounding the election outcome may create volatility in the USD in the coming months, potentially limiting further gains. 3. Long-Term US Treasury Yields Surge Another factor contributing to the shifting dynamics of USD momentum is the behavior of long-term US Treasury yields. The yield on the benchmark 10-year US government bond has risen back to pre-Jackson Hole levels, currently hovering around 4.20%. This is remarkable given the Fed’s rate cuts, which began in September and are expected to continue in the coming months. Typically, rate cuts are associated with lower bond yields, as they signal a more accommodative monetary policy stance. However, the rise in long-term yields reflects persistent concerns about inflation, as well as expectations that the Fed may not cut rates as aggressively as previously anticipated. Elevated yields provide support for the USD by offering higher returns to investors, but the question remains whether this support will be sustained in the face of ongoing monetary easing. FX Volatility Concerns 1. Impact of US Dollar Softening on Global FX Markets As the USD shows signs of softening, its impact on global foreign exchange (FX) markets becomes a key concern. The USD is a dominant currency in global trade and finance, and its strength or weakness has far-reaching implications for other currencies. A weakening USD could provide relief to currencies that have been under pressure in recent months, particularly emerging market currencies that have struggled amid USD strength. However, the potential for increased FX volatility remains high. While a softer USD could boost other currencies, the uncertainty surrounding US political developments, inflation concerns, and the Fed’s future policy moves could trigger sudden shifts in market sentiment. This may result in heightened volatility, particularly in currencies that are closely tied to US economic conditions. 2. The Role of Interest Rate Differentials Interest rate differentials play a crucial role in determining currency movements, and this dynamic is particularly important for the USD. As the Fed moves toward a more dovish stance, with the possibility of additional rate cuts on the horizon, the interest rate differential between the US and other major economies could narrow. This would reduce the attractiveness of the USD relative to other currencies, leading to potential depreciation. For instance, if the European Central Bank (ECB) or the Bank of Japan (BoJ) were to maintain or increase their rates while the Fed continues to cut, the relative appeal of holding USD-denominated assets would diminish. This could result in a shift in capital flows away from the USD, further weakening its momentum and contributing to increased FX volatility. Key Takeaways and Outlook 1. USD Outlook: Fading Momentum, But Not Out While the USD has been resilient, the factors that have supported its strength—such as rising US Treasury yields and interest rate differentials—are showing signs of waning. With the repricing of US short-term rates nearing completion and political uncertainty looming, the USD’s momentum appears to be fading. However, this does not necessarily mean that the USD is headed for a sharp decline. The currency could remain supported by elevated bond yields and investor demand for safe-haven assets amid global uncertainties. 2. FX Volatility: Prepare for Turbulence As the USD softens, FX markets may experience heightened volatility, particularly in the lead-up to the US presidential election and amid ongoing inflation concerns. Currencies that have been under pressure due to USD strength may find some relief, but the potential for sudden shifts in market sentiment remains high. Traders and investors should be prepared for increased FX volatility in the coming months, as the interplay between US monetary policy, political developments, and global economic conditions continues to evolve. 3. Long-Term Implications for the US Dollar Looking ahead, the long-term outlook for the USD will depend on a variety of factors, including the pace of Fed rate cuts, the outcome of the US presidential election, and the trajectory of inflation. If inflation remains a persistent concern and

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Commodities Gold Gold News News Real Time News Technical Analysis

Gold Price Hits Fresh All-Time High as Safe-Haven Demand Offsets USD Strength

Gold Price Hits Fresh All-Time High as Safe-Haven Demand Offsets USD Strength Gold (XAU/USD) surged to a fresh all-time high during the European session on Wednesday, reversing an intraday dip near the $2,738 level. Amid the backdrop of rising geopolitical tensions in the Middle East, ongoing US political uncertainty, and a dovish outlook from global central banks, demand for the safe-haven asset has been on the rise. However, the sustained strength of the US Dollar (USD) and elevated US Treasury yields are putting a cap on gold’s gains, creating a tug-of-war between bullish and bearish forces. This article will explore the factors driving gold’s record-breaking rally, along with the potential risks and challenges facing the yellow metal. Factors Supporting Gold’s Record Rally 1. Middle East Geopolitical Tensions Boost Safe-Haven Demand The conflict in the Middle East has once again intensified, contributing to the safe-haven demand for gold. Hezbollah’s recent rocket attacks on two military bases near Tel Aviv and a naval base near Haifa have heightened geopolitical risks. Additionally, fears of an impending Israeli retaliatory strike against Iran in response to a ballistic missile attack on October 1 have further fueled market uncertainty. Gold is widely regarded as a safe-haven asset during times of geopolitical instability. As tensions in the Middle East escalate, investors are seeking refuge in gold, driving its price to unprecedented levels. The lack of progress in diplomatic efforts to resolve the year-long conflict adds to the bearish sentiment, providing further support to gold prices. 2. US Political Uncertainty Adding to the geopolitical risks is the political uncertainty in the United States, which is lending further support to gold. With the US presidential election on the horizon and the possibility of former President Donald Trump winning the November 5 election, market participants are concerned about the potential introduction of inflationary policies, such as tariffs. These concerns have prompted some investors to turn to gold as a hedge against inflationary pressures and political risks. Moreover, the deadlock in the US Congress over fiscal policies and government spending continues to weigh on market sentiment, contributing to the bullish outlook for gold. The uncertainty surrounding fiscal policies may result in higher inflation expectations, further boosting demand for gold. 3. Easing Monetary Policy Expectations Another factor contributing to gold’s rally is the anticipated easing of monetary policies by major central banks. As the global economy shows signs of slowing, central banks around the world, including the Federal Reserve (Fed), are expected to cut interest rates to support economic growth. Gold, being a non-yielding asset, typically benefits from lower interest rates, as it reduces the opportunity cost of holding gold compared to interest-bearing assets. According to CME Group’s FedWatch Tool, traders are pricing in a nearly 90% chance that the Fed will reduce borrowing costs by 25 basis points at its next policy meeting in November. This dovish outlook, combined with the possibility of rate cuts by other major central banks, has provided a tailwind for gold’s ongoing uptrend. USD Strength and Elevated Treasury Yields Cap Gold Gains 1. Strong US Dollar Limits Gold’s Upside Despite the factors supporting gold, the US Dollar has remained strong, which has limited the extent of gold’s rally. The USD has been on an upward trajectory since the start of the month, driven by expectations that the Fed will adopt a less aggressive stance on policy easing. Investors have been betting on smaller rate cuts, which has kept the USD elevated against other major currencies. The US Dollar Index (DXY), which tracks the USD against a basket of six major currencies, has climbed to its highest level since early August. A strong USD typically exerts downward pressure on gold prices, as gold is denominated in dollars and becomes more expensive for investors holding other currencies. 2. Rising US Treasury Yields Alongside the strength of the USD, US Treasury bond yields have also risen, putting a damper on gold’s momentum. Yields on US government bonds are near multi-month highs, with the benchmark 10-year Treasury yield hovering around 4.2%. The rising yields reflect growing concerns about a resurgence in inflation and expectations that the Fed may adopt a cautious approach to rate cuts. Higher bond yields make interest-bearing assets more attractive compared to non-yielding assets like gold, as they offer investors a return on investment. This dynamic has led to some traders hesitating to place fresh bullish bets on gold, especially as it approaches overbought levels on technical charts. Technical Outlook: Key Levels to Watch 1. Gold’s Upward Momentum Faces Resistance From a technical perspective, gold is currently facing resistance near the $2,750 area, followed by the upper boundary of a two-week-old ascending channel around $2,767. This region represents a critical pivot point for the yellow metal. If gold manages to break through this resistance level decisively, it could pave the way for an extension of its well-established uptrend, potentially pushing prices toward the $2,800 psychological mark. However, traders should be cautious, as overbought conditions on the daily chart suggest that gold may be due for a near-term pullback. The Relative Strength Index (RSI) is flashing overbought signals, which could lead to some profit-taking in the short term. 2. Key Support Levels for Gold On the downside, any pullback in gold prices is likely to find support near the $2,725 level, which marks the lower boundary of the ascending trend channel. A decisive break below this level could trigger further technical selling, dragging the metal toward the $2,700 mark. The next major support level lies around the $2,680-$2,675 zone, which coincides with the 100-period Simple Moving Average (SMA) on the 4-hour chart. This area is expected to act as a strong base for gold prices, limiting further downside risks. Daily Digest: Market Movers to Watch Several factors will continue to influence gold prices in the near term, including geopolitical developments, US political dynamics, and central bank policies. Traders will also be closely watching economic data releases and speeches from key policymakers to gauge the potential impact on

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GBP/USD Tests 1.3000 Faces Headwinds from Dovish Bank of England Sentiment

GBP/USD Tests 1.3000 Faces Headwinds from Dovish Bank of England Sentiment The GBP/USD currency pair is gradually edging closer to the 1.3000 mark during Asian trading on Wednesday. However, the British Pound (GBP) faces notable headwinds due to a dovish outlook surrounding the Bank of England (BoE). Expectations of a potential rate cut by the BoE in November, combined with weak economic indicators from the UK, are weighing heavily on the Pound. Meanwhile, the US Dollar (USD) continues to strengthen as US Treasury yields rise, supported by a more resilient US economy and a less aggressive rate-cutting stance from the Federal Reserve (Fed). This article delves into the key factors influencing the GBP/USD pair and the challenges ahead for the British currency. Challenges for GBP: Dovish Sentiment Surrounding the BoE 1. BoE Expected to Cut Rates Amid Weak UK Economic Data The primary factor pressuring the British Pound is the growing expectation that the Bank of England will reduce its interest rates by 25 basis points in November. This sentiment has been fueled by a series of disappointing economic data releases in the UK, including declining consumer and producer inflation figures as well as weak labor market data. Inflation in the UK has shown signs of easing, with both consumer prices and producer prices experiencing a downturn. The labor market has also weakened, with higher unemployment figures and slower wage growth. These developments suggest that the BoE may be inclined to adopt a more dovish monetary policy stance in an effort to support the UK economy. Market analysts expect that the central bank may follow up the November rate cut with another quarter-point reduction in December. 2. BoE Governor’s Comments on Financial Regulation In a speech delivered at a Bloomberg event in New York, BoE Governor Andrew Bailey addressed the need for the UK central bank to enhance its surveillance of the non-banking financial sector. Bailey emphasized that the BoE is approaching a point where it must shift its focus from rule-making to surveillance to better monitor financial activities outside the traditional banking system. This shift in regulatory focus comes as the BoE grapples with challenges in an increasingly complex financial landscape, with less transparent activities occurring in the non-banking sector. Bailey’s remarks reflect the BoE’s concerns about potential risks within the financial system, particularly as the UK economy faces slowing growth and elevated inflation. These factors contribute to the overall dovish sentiment surrounding the BoE and add pressure on the GBP/USD exchange rate. 3. BoE Deputy Governor to Speak on Financial Regulation In addition to Governor Bailey’s comments, BoE Deputy Governor Sarah Breeden is set to participate in a panel discussion on financial regulation organized by the Institute of International Finance (IIF) in Washington on Wednesday. Breeden’s remarks may provide further insights into the BoE’s policy outlook and regulatory strategy, potentially influencing market sentiment regarding the Pound. US Dollar Strength: Fed’s Hawkish Outlook and Rising Treasury Yields 1. Resilient US Economy Supports the USD While the Pound faces challenges, the US Dollar continues to strengthen, supported by rising US Treasury yields and a resilient US economy. The Federal Reserve’s recent policy signals have been less dovish than previously expected, with market participants now anticipating smaller nominal rate cuts in the near term. In a social media post, Federal Reserve Bank of San Francisco President Mary Daly noted that the US economy is in a stronger position, with inflation having fallen significantly and the labor market returning to a more sustainable trajectory. These comments suggest that the Fed may be less inclined to implement aggressive rate cuts, as the US economy appears to be on a stable path toward its inflation and employment goals. 2. US Dollar Index Near Two-Month High As a result of the Fed’s more hawkish tone, the US Dollar Index (DXY), which measures the USD’s strength against a basket of six major currencies, is trading near a two-month high at 104.20. This surge in the US Dollar has been further supported by rising Treasury yields, which reflect increased investor confidence in the US economy. The yield on the benchmark 10-year US Treasury bond rose to 4.23%, while the 2-year Treasury yield hovered around 4.05%. Higher bond yields make the US Dollar more attractive to investors, drawing capital away from other currencies, including the British Pound. Outlook for the GBP/USD Pair 1. Technical Analysis: GBP/USD Testing 1.3000 From a technical perspective, the GBP/USD pair is testing the key psychological level of 1.3000. This level represents a critical point for the pair, as it has acted as both support and resistance in recent weeks. A sustained move above this level would be necessary for the Pound to gain further ground against the USD, but the headwinds from the BoE’s dovish outlook make this scenario challenging. If the Pound is unable to break above 1.3000, the pair may face further downside risks, especially if the BoE confirms its rate-cutting intentions in the coming weeks. In the event of a rate cut, the GBP/USD pair could drop towards support levels around 1.2900 and 1.2800. 2. Key Factors to Watch Looking ahead, several key factors will influence the trajectory of the GBP/USD pair. First, market participants will closely monitor BoE Deputy Governor Sarah Breeden’s remarks at the IIF panel discussion for any additional insights into the BoE’s policy direction. Any indication of further rate cuts could weigh heavily on the Pound. Second, developments in the US economy, particularly with regard to inflation and employment data, will also play a significant role in shaping the USD’s strength. Should US economic data continue to show resilience, the Fed may maintain its less aggressive rate-cutting stance, providing further support for the US Dollar. Lastly, geopolitical factors, such as the ongoing conflict in the Middle East, could also influence market sentiment. As global uncertainties rise, safe-haven demand for the USD could increase, putting additional pressure on the GBP/USD pair. GBP/USD Faces Downside Risks Amid Diverging Central Bank Policies In summary, the GBP/USD pair is

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EURUSD Stays Weak on ECB Dovish Bets and a Firm US Dollar

EURUSD Stays Weak on ECB Dovish Bets and a Firm US Dollar The EUR/USD currency pair is facing tough times, hovering near the critical 1.0800 support level. A combination of factors such as the dovish stance of the European Central Bank (ECB) and a strong US Dollar is applying pressure. As traders brace for potential interest rate cuts from the ECB in December, the pair remains vulnerable. In contrast, the US Dollar is benefitting from heightened expectations that the Federal Reserve (Fed) will take a more moderate approach to policy easing, bolstering the Greenback’s strength. ECB’s Dovish Outlook and its Impact on EUR/USD ECB Rate Cut Expectations in December The EUR/USD pair continues to feel the heat as traders anticipate another rate cut by the ECB in December. This would mark the fourth cut this year as the ECB faces growing economic risks in the Eurozone. The central bank is likely to maintain its dovish approach, primarily due to subdued inflationary pressures and sluggish economic growth in the region. Market participants are increasingly pricing in this possibility, leading to a fragile Euro. ECB President Christine Lagarde is expected to provide fresh cues on the interest rate outlook during her upcoming speech. Traders will pay close attention to her remarks, especially after recent dovish comments from other ECB policymakers. The central bank’s goal is to maintain inflation near its 2% target, but with the ongoing economic slowdown, there is pressure to continue easing monetary policy to stimulate growth. European Economic Slowdown The Eurozone’s economic struggles are further highlighted by weak data releases. Germany, the region’s largest economy, reported a sharper-than-expected decline in the Producer Price Index (PPI), which dropped by 1.4% year-over-year in September. This reflects weak demand and the inability of producers to raise prices due to falling consumer spending. As household spending remains low, it adds to the ECB’s concerns, making rate cuts a more likely option to support the economy. Mixed Signals from ECB Policymakers Recent comments from key ECB officials have provided a mixed picture of the central bank’s stance. Slovak central bank chief and ECB policymaker Peter Kazimir expressed confidence that the disinflation trend is well on track. However, he urged caution, stating that more evidence is needed before declaring inflation under control. On the other hand, Lithuanian central bank governor Gediminas Šimkus hinted at the possibility of rates falling below the “natural level” if disinflation persists. According to Šimkus, the natural level of interest rates lies between 2% and 3%, but further easing could be necessary if inflation continues to recede. These mixed messages from ECB officials contribute to the uncertainty surrounding EUR/USD, keeping the currency pair on the back foot. US Dollar Strength and its Influence on EUR/USD Strong US Dollar Amid Political and Economic Factors While the Euro grapples with the possibility of rate cuts, the US Dollar remains strong. The US Dollar Index (DXY), which measures the Greenback against a basket of six major currencies, continues to trade near its 11-week high, around 104.00. Several factors are supporting the US Dollar, including political uncertainty in the US and growing expectations that the Fed will implement a slower rate-cut cycle than previously anticipated. As the US presidential election approaches, tensions are rising. The latest polls indicate a tight race between former President Donald Trump and Vice President Kamala Harris. If Trump wins, markets expect a rise in import tariffs, which could further drive up inflation. This could force the Fed to reconsider its easing stance and potentially hike rates again. Such a scenario is keeping the US Dollar firm. Fed’s Gradual Rate Cut Path Despite the political backdrop, the Fed is widely expected to cut rates by 25 basis points (bps) in both November and December. However, there is speculation that these cuts will be more gradual than initially expected. Investors are confident in the resilience of the US economy following positive data releases, such as September’s Nonfarm Payrolls (NFP), ISM Services PMI, and Retail Sales. This strong economic performance reduces the need for aggressive rate cuts, providing further support to the US Dollar. Fed officials, including Chair Jerome Powell, have suggested that a slower, more measured rate-cut path is appropriate. This dovish-yet-gradual approach contrasts with the more aggressive cuts anticipated from the ECB, helping the US Dollar maintain its recent gains. Market Movers to Watch Lagarde’s Interview and IMF Panel One of the key events for EUR/USD traders this week will be Christine Lagarde’s interview with Bloomberg, followed by her participation in a panel discussion during the International Monetary Fund (IMF) meeting. Traders are eagerly awaiting any new guidance from Lagarde regarding the ECB’s future monetary policy, particularly in light of the upcoming December rate decision. S&P Global Purchasing Managers Index (PMI) Another critical data release this week will be the preliminary S&P Global Purchasing Managers Index (PMI) for October. Scheduled for Thursday, the PMI data will provide insights into the health of the US economy and could have a significant impact on Fed policy expectations. Strong PMI figures could bolster the US Dollar further, while weaker-than-expected data could offer some relief to the Euro. Technical Outlook: EUR/USD Struggles Below Key Levels Immediate Support at 1.0800 From a technical perspective, EUR/USD continues to trade near critical support at 1.0800. The pair has struggled to gain momentum in recent sessions, weighed down by both fundamental and technical factors. The 1.0800 level represents a significant psychological threshold, and a decisive break below this level could trigger further selling pressure. Bearish Indicators The EUR/USD pair remains below its 200-day Exponential Moving Average (EMA), which currently sits around 1.0900. This key technical indicator suggests a bearish trend, as the pair has failed to recover after breaking down from a Double Top formation near 1.1000 in mid-September. Additionally, the 14-day Relative Strength Index (RSI) has dipped below 30.00, indicating oversold conditions. While this suggests that a recovery may be on the horizon, the overall outlook remains bearish as long as the pair stays below the 200-day

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Gold Price Holds Steady Near Record High Despite Rising US Bond Yields

Gold Price Holds Steady Near Record High Despite Rising US Bond Yields Gold prices continue to display resilience, hovering close to their all-time high amid a complex mix of global factors. The precious metal has regained positive momentum following a temporary pullback from the record peak of $2,740-$2,741 reached in the previous session. Several key developments, including political uncertainty in the United States, escalating tensions in the Middle East, and an easing global monetary policy environment, are keeping gold prices well-supported. US Political Uncertainty and Middle East Tensions Boost Safe-Haven Demand One of the primary drivers behind the recent strength in gold prices is the uncertainty surrounding the upcoming US Presidential election on November 5. With opinion polls showing a close contest between Vice President Kamala Harris and former President Donald Trump, investors are increasingly seeking safe-haven assets like gold to hedge against potential political and economic volatility. The potential for new tariffs under a Trump presidency has added to market jitters, as traders fear inflationary pressures could rise if he wins the election. In addition to the US political landscape, the growing risk of a broader conflict in the Middle East is further underpinning gold’s appeal as a safe-haven asset. A recent incident where a projectile from Lebanon landed in central Israel, along with Israel’s subsequent warning of more attacks on Hezbollah, has heightened geopolitical tensions. As the situation escalates, investors are turning to gold as a refuge from potential market instability. Easing Global Monetary Policy Supports Gold Prices Another key factor supporting gold prices is the expectation of further interest rate cuts by major central banks. The European Central Bank (ECB) recently lowered interest rates for the third time this year, marking the first consecutive rate cut in 13 years. Similarly, weak inflation data from the UK has strengthened expectations for aggressive rate cuts by the Bank of England. The Federal Reserve (Fed) is also anticipated to ease borrowing costs further, despite the recent rise in US Treasury bond yields. The easing monetary policy environment has largely offset the impact of rising bond yields on gold prices. Typically, higher bond yields increase the opportunity cost of holding non-yielding assets like gold. However, in the current climate, the prospect of lower interest rates is providing enough support to keep gold prices buoyant. US Dollar and Bond Yields: Mixed Impact on Gold Strong US Dollar Fails to Dent Gold’s Bullish Momentum The US Dollar (USD) remains near its highest level since early August, buoyed by a recent surge in US Treasury bond yields. The strong dollar typically weighs on gold prices, as it makes the metal more expensive for holders of other currencies. However, in this case, the firm USD has done little to dent the underlying bullish sentiment surrounding gold. One reason for this is that the market has fully priced out the possibility of another large interest rate cut by the Fed in November, which has lifted US bond yields to nearly three-month highs. Despite this, gold prices remain well-supported due to the broader global economic and geopolitical backdrop. The potential for a smaller Fed rate cut, combined with rising inflationary concerns, has kept demand for gold steady. Overbought Conditions May Curb Further Gains From a technical standpoint, gold’s recent rally has been impressive, but it may face some headwinds in the near term. The Relative Strength Index (RSI) on both the daily and 4-hour charts is flashing slightly overbought conditions, signaling that a short-term pullback or consolidation could be in order. While the broader trend remains positive, traders may exercise caution before placing fresh bullish bets, especially in the absence of any major US economic data. Any near-term consolidation could provide an opportunity for investors to enter the market at more favorable levels before positioning for the next leg up. Technical Analysis: Gold Price Eyes $2,750 Resistance Ascending Trend-Channel Supports Short-Term Uptrend Gold’s recent price action has been characterized by a well-defined ascending channel, which suggests that the metal is in a strong short-term uptrend. The upper boundary of this trend-channel, currently near the $2,750 level, serves as a key resistance point. If gold manages to break through this level, it could pave the way for further gains, potentially pushing prices to new all-time highs. However, as mentioned earlier, the overbought conditions in the RSI may warrant some caution. Traders should watch for a potential pullback or consolidation phase before gold attempts to challenge the $2,750 resistance. Key Support Levels to Watch On the downside, gold is likely to find initial support around the $2,720 region. This level has acted as a strong floor for the metal in recent sessions and could once again provide a cushion if prices start to correct. Below this, the lower end of the ascending channel, near $2,710, is another important support zone. A decisive break below the $2,710 level could signal a deeper correction, with gold potentially falling below the psychological $2,700 mark. The next key support level would be around $2,685, which is a pivotal point for the XAU/USD pair. If this level is breached, gold could accelerate its decline towards the $2,662-$2,661 area, which was previously a resistance zone and has now turned into support. Market Movers to Watch Political and Geopolitical Developments The uncertainty surrounding the US Presidential election and the escalating tensions in the Middle East will continue to be key drivers of gold prices in the coming weeks. Any further developments in these areas could have a significant impact on safe-haven demand for gold. Central Bank Policies and US Economic Data Traders will also be closely monitoring central bank policy decisions and economic data releases for clues about the future direction of gold prices. In particular, the Richmond Manufacturing Index and the speech by Philadelphia Fed President Patrick Harker could provide some near-term impetus for the XAU/USD pair. Gold Remains in Bullish Territory Despite Near-Term Risks In conclusion, gold prices remain well-supported by a combination of factors, including US political uncertainty, Middle East tensions, and

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