Welcome to your ultimate daily market analysis, where insights meet precision. As the leading expert in market forecasting and technical analysis, I bring you in-depth, actionable trading signals that guide your financial decisions. Today’s report covers everything from forex, stocks, gold, oil, and crypto, paired with the latest economic events shaping global markets. Leveraging advanced technical indicators and cutting-edge strategies, this analysis is crafted to not only provide clarity but to maximize your trading potential. Let’s dive into the markets and uncover today’s top trading opportunities.
DXY (US Dollar Index)
Potential Direction: 📈 Bullish
Overall Momentum: Bearish
The DXY has shown recent strength, attempting to recover from the bearish trend. While the overall chart remains bearish, the pivot point at 100.52 serves as a crucial level where buyers could step in. The 1st resistance at 101.78 marks a key swing high, but before reaching this, the DXY must hold the 1st support at 99.75, where a Fibonacci confluence occurs, providing a robust area for potential buying interest.
Key Correlations and Impacts:
- EUR/USD Inverse Correlation: As the DXY strengthens, the EUR/USD tends to fall. A bullish USD outlook often indicates a weakening euro, especially when ECB policy remains dovish or US economic data (like retail sales) comes in stronger than expected.
- Gold Correlation: A stronger DXY typically weighs on gold (XAU/USD), as a rising dollar makes gold more expensive for foreign buyers. Watch how the US Retail Sales and Empire State Manufacturing Index influence this relationship. If these metrics outperform, expect further dollar strength and gold weakness.
Economic Calendar Events Affecting DXY:
- Monday: NY Empire State Manufacturing Index (Sep) could support the DXY if it indicates stronger economic conditions.
- Tuesday: US Retail Sales (MoM) data will be critical. Strong numbers here could push DXY higher toward the 1st resistance at 101.78.
Trading Strategies:
- Buy Setup: Consider going long near the 100.52 pivot, with a target at 101.78 and a stop-loss below 99.75. Watch economic releases to confirm entry, especially Retail Sales.
- Neutral Setup: Should the DXY break below 99.75, consider waiting for clearer signals, as this might indicate continued bearish momentum.
EUR/USD
Potential Direction: 📉 Bearish
Overall Momentum: Bullish
Despite the bullish momentum on the chart, EUR/USD may see a bearish pullback off the pivot at 1.1151. The 50% Fibonacci retracement level at 1.0979 acts as a key support level. Economic events this week, particularly the US Retail Sales and Empire State Manufacturing Index, will heavily influence this pair. A stronger USD driven by better-than-expected US data could lead to a fall in EUR/USD.
Key Correlations and Impacts:
- DXY Correlation: As noted, a stronger DXY typically pushes the EUR/USD lower. If US economic data continues to outshine expectations, expect bearish pressure on the euro.
- Risk Sentiment: A fall in the EUR/USD often correlates with heightened risk-off sentiment, particularly if US equity markets weaken or there’s global geopolitical uncertainty.
- EUR Economic Sentiment: Watch out for the ZEW Survey (Sep) on Tuesday. If eurozone sentiment weakens, it could further depress EUR/USD.
Economic Calendar Events Affecting EUR/USD:
- Monday: EUR Consumer Price Index (YoY) will provide inflation insights. If inflation cools, it weakens the euro as the ECB may maintain a dovish stance.
- Tuesday: ZEW Survey – Economic Sentiment will be vital in shaping expectations around future EUR/USD movements.
Trading Strategies:
- Sell Setup: Short positions below 1.1151, targeting 1.0979, with a stop-loss above 1.1274. Confirmation of a bearish reaction can come from weaker eurozone data or stronger US data.
- Buy Setup (Reversal): If EUR/USD holds 1.0979 support, look for a potential rebound targeting 1.1274, especially if eurozone economic sentiment strengthens.
EUR/JPY
Potential Direction: 📈 Bullish
Overall Momentum: Bearish
EUR/JPY is at a potential turning point. The pivot at 154.70 aligns with multi-swing low support, suggesting a bullish bounce toward 1st resistance at 159.96. Economic data out of both the eurozone and Japan will drive this pair’s direction.
Key Correlations and Impacts:
- Risk Sentiment: The yen traditionally benefits during periods of risk aversion. If global markets experience turbulence, expect the yen to strengthen, which could limit the upside in EUR/JPY.
- ECB & BOJ Policies: A divergence in central bank policies can play a crucial role here. If the ECB shows optimism in their outlook and BoJ continues its accommodative policy, expect bullish momentum in EUR/JPY.
Economic Calendar Events Affecting EUR/JPY:
- Tuesday: ZEW Economic Sentiment (EUR) and Japanese Machinery Orders (YoY) will provide significant direction. Strong eurozone data combined with weak Japanese figures could boost EUR/JPY.
Trading Strategies:
- Buy Setup: Go long near the 154.70 pivot, targeting 159.96, with a stop-loss at 151.52. Confirmation may come from strong eurozone data or weakening Japanese sentiment.
- Sell Setup (Reversal): If EUR/JPY breaks below 151.52, consider short positions targeting further downside, particularly if global risk sentiment shifts towards safe-haven assets like the yen.
EUR/GBP
Potential Direction: 📉 Bearish
Overall Momentum: Bearish
The EUR/GBP pair continues to show bearish signals, potentially declining toward the 1st support at 0.8407 after testing the pivot at 0.8490. The outlook is driven by BoE expectations and Brexit uncertainties, while eurozone data plays a smaller role.
Key Correlations and Impacts:
- GBP Strength: A stronger pound often correlates with a falling EUR/GBP. This could be triggered by the BoE’s MPC vote and inflation data.
- Brexit Impact: While Brexit risks are less dominant, any surprises (like political uncertainty) could boost GBP at the euro’s expense.
Economic Calendar Events Affecting EUR/GBP:
- Wednesday: GBP Consumer Price Index (YoY) is expected to impact the pound. If inflation surprises to the upside, expect EUR/GBP to fall.
- Thursday: The BoE Interest Rate Decision will likely be the key event for EUR/GBP this week. Any indication of rate hikes could trigger significant downside for this pair.
Trading Strategies:
- Sell Setup: Short positions below 0.8490, targeting 0.8407. Confirmation will come from stronger UK economic data or a more hawkish BoE.
- Buy Setup (Reversal): Should EUR/GBP hold 0.8407, consider going long, targeting 0.8533, especially if eurozone economic sentiment improves.
GBP/USD
Potential Direction: 📉 Bearish
Overall Momentum: Bearish
GBP/USD is facing significant resistance at 1.3182, with potential to drop toward the 1st support at 1.3009. The BoE rate decision and CPI data from the UK will be critical in determining the next move for this pair.
Key Correlations and Impacts:
- DXY Correlation: A stronger DXY often pressures GBP/USD lower, especially when paired with weak UK data.
- BoE Impact: A hawkish BoE stance could limit downside, but if the bank is dovish or inflation misses expectations, GBP/USD will likely see further declines.
Economic Calendar Events Affecting GBP/USD:
- Wednesday: UK CPI Data will heavily influence the pair. If inflation is lower than expected, it will weigh on GBP/USD.
- Thursday: BoE MPC Vote and Monetary Policy Decision could push the pair lower if rate hikes are off the table.
Trading Strategies:
- Sell Setup: Short positions near 1.3182, targeting 1.3009. Stop-loss should be placed above 1.3266. Watch UK inflation data to confirm the bearish signal.
- Buy Setup (Reversal): If GBP/USD holds 1.3009, consider buying with a target at 1.3182, especially if the BoE turns hawkish or UK inflation exceeds expectations.
GBP/JPY
Potential Direction: 📉 Bearish
Overall Momentum: Bearish
GBP/JPY remains bearish, with price action suggesting further downside toward the 1st support at 180.22. The pivot at 186.29 serves as a key resistance level. A break below this could see the pair extend its losses.
Key Correlations and Impacts:
- JPY as a Safe Haven: In times of global uncertainty, the yen strengthens. If UK data or BoE signals weakness in the pound, the yen will likely gain more ground, pushing GBP/JPY lower.
- BoE and Japan: While the BoE decision will be key for GBP, any unexpected shocks in Japan’s economy could strengthen the yen and push GBP/JPY further down.
Economic Calendar Events Affecting GBP/JPY:
- Wednesday: UK CPI data and BoE’s Vote on Thursday will be crucial for GBP/JPY.
- Japan’s Trade Balance on Wednesday may offer insight into Japanese economic strength.
Trading Strategies:
- Sell Setup: Short positions below 186.29, targeting 180.22, with a stop-loss above 193.17. This strategy aligns with the ongoing global risk-off sentiment.
- Buy Setup (Reversal): Consider buying if GBP/JPY holds above 180.22 on better-than-expected UK economic data.
USD/CHF
Potential Direction: ⚖️ Neutral
Overall Momentum: Bearish
USD/CHF is in a neutral zone as it consolidates between the 1st resistance at 0.8555 and the 1st support at 0.8394. The price action suggests indecision in the market, with no clear breakout in either direction. However, economic events this week, especially from Switzerland and the US, will likely provide the catalyst for a more definitive move.
Key Correlations and Impacts:
- DXY Correlation: As DXY rises, USD/CHF tends to move higher. A strong DXY from better-than-expected US Retail Sales could push USD/CHF above 0.8555.
- Swiss Franc Safe-Haven Status: In times of market volatility, the Swiss franc strengthens due to its safe-haven appeal. If global risk sentiment turns bearish, expect USD/CHF to head toward the support level.
Economic Calendar Events Affecting USD/CHF:
- Monday: Swiss Producer and Import Prices (MoM & YoY) will provide insight into inflationary pressures in Switzerland. A lower-than-expected print could weaken the franc, pushing USD/CHF higher.
- Tuesday: US Retail Sales will have a significant impact on the DXY, and by extension, USD/CHF. Strong data could push USD/CHF toward 0.8555 resistance.
Trading Strategies:
- Neutral Setup: Trade the range between 0.8394 and 0.8555. Buy near the support with a stop-loss below 0.8350 or sell near resistance with a stop-loss above 0.8600.
- Breakout Setup: If USD/CHF breaks above 0.8555, target 0.8663 with a stop-loss below 0.8490. Conversely, if price breaks below 0.8394, target 0.8270 with a stop-loss above 0.8440.
USD/JPY
Potential Direction: 📉 Bearish
Overall Momentum: Bearish
USD/JPY is showing a continuation of its bearish trend as it trades below the Ichimoku cloud, a strong indicator of further downside. Price is expected to move toward the 1st support at 137.95 after facing resistance at the pivot of 144.04.
Key Correlations and Impacts:
- Risk-Off Sentiment: In times of economic uncertainty, investors flock to the yen, pushing USD/JPY lower. Expect more downside if global markets shift to risk-off mode following weak US economic data or rising geopolitical tensions.
- Japanese Economic Data: This week, Japan’s Merchandise Trade Balance and Machinery Orders will give more insight into the strength of the Japanese economy. A stronger-than-expected print could further strengthen the yen, pushing USD/JPY lower.
Economic Calendar Events Affecting USD/JPY:
- Wednesday: Japanese Trade Balance and US Industrial Production are key events that could influence USD/JPY. A weaker trade balance and poor US industrial data would push the pair lower.
- Fed Interest Rate Decision on Wednesday is another crucial factor. A dovish Fed could send USD/JPY further down as investors flee to safe-haven assets like the yen.
Trading Strategies:
- Sell Setup: Short positions below 144.04, targeting 137.95. Stop-loss above 149.42 to protect against any bullish reversal. Confirmation of a sell setup comes from weaker US economic data or a dovish Fed.
- Buy Setup (Reversal): If USD/JPY bounces from 137.95, consider long positions with a target at 144.04, but only if global risk sentiment improves or US economic data surprises positively.
USD/CAD
Potential Direction: 📈 Bullish
Overall Momentum: Neutral
USD/CAD is hovering near the pivot at 1.3547, where a potential bullish bounce could occur, pushing the pair toward the 1st resistance at 1.3616. The recent neutral momentum in USD/CAD is influenced by the oil market and key Canadian economic releases scheduled this week.
Key Correlations and Impacts:
- Oil Prices Correlation: A decline in oil prices tends to weaken the CAD since Canada is a major oil exporter. Watch for WTI/USD movements as oil prices will directly influence USD/CAD.
- US and Canadian Data Impact: Canadian CPI on Tuesday and US Retail Sales will be pivotal for determining the direction of USD/CAD. A higher CPI print from Canada could strengthen CAD, pushing USD/CAD lower, but strong US Retail Sales could buoy the pair.
Economic Calendar Events Affecting USD/CAD:
- Tuesday: Canadian CPI (MoM & YoY) will be critical. A lower-than-expected CPI could weaken CAD, pushing USD/CAD higher.
- Wednesday: US Retail Sales and BoC Summary of Deliberations could also provide significant movement for USD/CAD.
Trading Strategies:
- Buy Setup: Go long near 1.3547, targeting 1.3616, with a stop-loss below 1.3439. This setup is confirmed if oil prices drop or US Retail Sales come in stronger than expected.
- Sell Setup (Reversal): If USD/CAD breaks below 1.3439, consider short positions, targeting 1.3300, especially if Canadian CPI exceeds expectations or oil prices rise.
AUD/USD
Potential Direction: 📉 Bearish
Overall Momentum: Neutral
AUD/USD is showing signs of weakness, with a potential reversal near the pivot at 0.6798. The price could drop toward the 1st support at 0.6645 if bearish pressure continues to build. The Chinese economy and global commodity demand heavily influence the Aussie dollar, so this week’s data from both Australia and China is critical.
Key Correlations and Impacts:
- China Correlation: Australia’s economy is highly dependent on Chinese demand for raw materials. A slowdown in China, reflected by weaker FDI and Industrial Production data, could weigh heavily on AUD.
- Commodities Correlation: Falling commodity prices, particularly iron ore and copper, will pressure the AUD, making it more likely for AUD/USD to fall further.
Economic Calendar Events Affecting AUD/USD:
- Tuesday: China’s FDI (YTD) (YoY) and Retail Sales data will have a significant impact on AUD/USD. Weak Chinese data could further pressure the pair.
- Thursday: Australian Unemployment Rate and Employment Change figures will provide crucial direction.
Trading Strategies:
- Sell Setup: Short positions below 0.6798, targeting 0.6645, with a stop-loss above 0.6882. Look for confirmation from weaker Chinese economic data or lower commodity prices.
- Buy Setup (Reversal): If AUD/USD bounces from 0.6645, consider buying with a target at 0.6798, especially if Australian employment data surprises to the upside.
NZD/USD
Potential Direction: 📈 Bullish
Overall Momentum: Neutral
NZD/USD is trading near the pivot at 0.6119, with potential for a bullish bounce toward the 1st resistance at 0.6224. While the momentum remains neutral, key economic data from New Zealand and the US will shape the next move for this pair.
Key Correlations and Impacts:
- Risk Sentiment: As a risk-sensitive currency, the NZD often strengthens during risk-on periods and weakens when global risk sentiment deteriorates. If US economic data underperforms, it could push NZD/USD higher.
- Commodity Prices Correlation: New Zealand is a major exporter of dairy products, and movements in global commodity prices will impact the Kiwi dollar.
Economic Calendar Events Affecting NZD/USD:
- Monday: NZ Business NZ PSI (Aug) shows a slight improvement but remains in contraction territory, limiting potential gains in NZD.
- Wednesday: NZ Current Account Data (Q2) and US Retail Sales will be crucial in determining direction.
Trading Strategies:
- Buy Setup: Long positions near 0.6119, targeting 0.6224, with a stop-loss below 0.5984. Confirmation of this setup will come from strong New Zealand data or US economic underperformance.
- Sell Setup (Reversal): If NZD/USD fails to hold 0.6119, consider short positions, targeting 0.5984 on weak New Zealand economic data or improved US risk sentiment.
US30 (DJIA)
Potential Direction: 📉 Bearish
Overall Momentum: Neutral
The US30 (Dow Jones Industrial Average) is trading near its pivot at 41,604.84. If the index fails to break above this level, it could reverse toward the 1st support at 40,202.56. The US equity market has shown signs of slowing momentum, with concerns about rising inflation and tightening monetary policy contributing to the uncertainty.
Key Correlations and Impacts:
- US Economic Data: Strong US Retail Sales data could support the US30, while weak numbers may trigger a risk-off sentiment, pushing equities lower.
- Risk Appetite: The US30 often rises when global risk appetite increases, but a stronger DXY and hawkish Fed policy could limit any bullish advances.
Economic Calendar Events Affecting US30:
- Monday: NY Empire State Manufacturing Index will offer insights into economic activity.
- Tuesday: US Retail Sales and Industrial Production are key for the overall market direction. Strong data could support the index, while weaker-than-expected results could lead to a sell-off.
Trading Strategies:
- Sell Setup: Short positions below 41,604.84, targeting 40,202.56, with a stop-loss above 42,532.73. Confirmation comes from weaker US economic data or hawkish Fed comments.
- Buy Setup (Reversal): If US30 bounces off 40,202.56, consider going long, especially if the Empire State Index surprises to the upside.
DE40 (DAX)
Potential Direction: 📉 Bearish
Overall Momentum: Neutral
The DAX is testing the pivot at 18,971.60, with potential for a bearish reversal toward the 1st support at 18,262.80. As Europe’s economic powerhouse, Germany’s economic outlook will play a crucial role in determining DAX’s movement this week.
Key Correlations and Impacts:
- German Economic Sentiment: ZEW Survey data on Tuesday is critical. A weaker-than-expected print could send the DAX lower, while positive data may push the index higher.
- US Influence: As a global equity index, the DAX often correlates with the US500 (S&P 500) and US30. A sell-off in US equities could lead to a similar reaction in the DAX.
Economic Calendar Events Affecting DE40:
- Tuesday: ZEW Survey – Economic Sentiment (Sep) will likely be the most important event for the DAX. Any signs of declining business sentiment could send the index lower.
- Thursday: German PPI Data will provide further insights into inflationary pressures within the eurozone’s largest economy.
Trading Strategies:
- Sell Setup: Short positions below 18,971.60, targeting 18,262.80, with a stop-loss above 19,404.37. Confirmation comes from weak ZEW survey data or heightened market risk-off sentiment.
- Buy Setup (Reversal): Consider long positions if the DAX holds above 18,262.80, especially if the ZEW data surprises to the upside.
US500 (S&P 500)
Potential Direction: 📉 Bearish
Overall Momentum: Neutral
The US500 (S&P 500) has been facing significant resistance near its pivot at 5,669.89. If this level holds, the index is likely to see a pullback toward the 1st support at 5,385.30. With the Federal Reserve’s rate decision looming and key US economic data scheduled for release, the US500 could see heightened volatility this week.
Key Correlations and Impacts:
- DXY and Risk Sentiment: A rising DXY could limit gains in the S&P 500, as a stronger dollar can hurt corporate earnings for multinational companies. Watch for how US Retail Sales and the Fed’s interest rate decision impact the dollar, as any bullish dollar movement could signal a bearish outlook for US500.
- Fed’s Influence: The Fed’s monetary policy stance will be key for the US500. A more hawkish tone could trigger a sell-off, as higher rates may weigh on equity valuations.
Economic Calendar Events Affecting US500:
- Tuesday: US Retail Sales (MoM) could provide early-week direction. Stronger sales data may buoy the US500 initially but could also spur fears of rate hikes, leading to a potential sell-off.
- Wednesday: The FOMC Rate Decision and Fed’s Economic Projections are major events for the US500. If the Fed signals a prolonged rate hike cycle, expect downside pressure on equities.
Trading Strategies:
- Sell Setup: Short positions below 5,669.89, targeting 5,385.30, with a stop-loss above 5,830.11. Confirmation of a bearish setup would come from a hawkish Fed and stronger US economic data that supports higher interest rates.
- Buy Setup (Reversal): If US500 bounces from 5,385.30, consider long positions targeting 5,669.89, especially if the Fed signals a dovish tone or if retail sales disappoint.
BTC/USD (Bitcoin)
Potential Direction: 📈 Bullish
Overall Momentum: Neutral
Bitcoin is poised to make a bullish move as it hovers around the pivot at 53,776.62. The cryptocurrency market is relatively neutral, but with major economic events, including the Fed’s rate decision, Bitcoin may see heightened volatility as traders react to macroeconomic changes.
Key Correlations and Impacts:
- Risk Appetite: Bitcoin often rises when risk sentiment improves, especially in response to dovish monetary policy. If the Fed hints at slowing its rate hikes, Bitcoin could rally as investors seek out riskier assets.
- Correlation with DXY: Bitcoin tends to have an inverse correlation with the DXY. A weaker dollar driven by dovish Fed policies could boost Bitcoin, while a stronger dollar could limit gains.
Economic Calendar Events Affecting BTC/USD:
- Wednesday: The FOMC Rate Decision and Fed’s Economic Projections will be key. If the Fed maintains a dovish stance or signals the end of rate hikes, Bitcoin could surge as the market shifts back to risk-on assets.
- Tuesday: US Retail Sales (MoM) data could influence market risk sentiment. A lower-than-expected figure might push investors toward cryptocurrencies like Bitcoin.
Trading Strategies:
- Buy Setup: Long positions near 53,776.62, targeting 60,529.00, with a stop-loss below 49,048.70. Watch for the Fed’s rate decision and economic projections to confirm a bullish outlook.
- Sell Setup (Reversal): If BTC/USD breaks below 49,048.70, consider short positions targeting 45,000, especially if the Fed surprises with a hawkish tone.
ETH/USD (Ethereum)
Potential Direction: 📈 Bullish
Overall Momentum: Neutral
Ethereum is positioned for a bullish bounce off the pivot at 2,135.44, heading toward the 1st resistance at 2,553.98. While the overall momentum remains neutral, Ethereum tends to perform well when Bitcoin rallies or when risk appetite in the broader market improves.
Key Correlations and Impacts:
- Correlation with Bitcoin: Ethereum typically follows Bitcoin’s price movements. A bullish breakout in Bitcoin will likely carry Ethereum higher. Watch BTC closely for signals that can affect Ethereum.
- Risk Sentiment and DeFi: Ethereum’s role in decentralized finance (DeFi) makes it highly correlated with broader risk sentiment. When the market is risk-on, ETH usually outperforms.
Economic Calendar Events Affecting ETH/USD:
- Wednesday: The Fed’s rate decision will impact both Bitcoin and Ethereum. A dovish Fed could fuel a bullish rally in ETH.
- Tuesday: US Retail Sales will influence risk sentiment, which is critical for both Ethereum and Bitcoin.
Trading Strategies:
- Buy Setup: Consider long positions near 2,135.44, targeting 2,553.98, with a stop-loss below 1,729.30. Look for confirmation of bullish momentum if Bitcoin breaks higher or if the Fed signals dovishness.
- Sell Setup (Reversal): If ETH/USD breaks below 1,729.30, short positions may target 1,500, particularly if the Fed delivers hawkish surprises or if risk sentiment declines sharply.
WTI/USD (Oil)
Potential Direction: 📈 Bullish
Overall Momentum: Bearish
WTI Crude Oil could make a bullish recovery after falling near its pivot at 66.34. However, the overall momentum remains bearish, and key factors such as US oil stock data and global growth concerns could either support a rebound or push prices lower.
Key Correlations and Impacts:
- US Dollar Correlation: Crude oil prices tend to move inversely with the DXY. If the dollar strengthens following US economic data, it could cap oil’s upside.
- Global Growth: Concerns over slower global growth, particularly in China, have weighed on oil prices. However, any signs of stronger demand or a dovish Fed could lead to a recovery in oil prices.
Economic Calendar Events Affecting WTI/USD:
- Wednesday: API Weekly Crude Oil Stock and EIA Crude Oil Stocks Change data will be key. A larger-than-expected drawdown in crude stocks could boost prices.
- Tuesday: US Retail Sales will indirectly affect oil by influencing the DXY. A weaker dollar could provide some support for oil prices.
Trading Strategies:
- Buy Setup: Long positions near 66.34, targeting 70.35, with a stop-loss below 61.79. Look for confirmation from API and EIA crude stock data.
- Sell Setup (Reversal): If WTI breaks below 61.79, consider short positions targeting 58.00, especially if US oil inventories rise or global demand outlooks worsen.
XAU/USD (Gold)
Potential Direction: 📉 Bearish
Overall Momentum: Bullish
Gold prices have remained in a bullish trend, but there are signs of a bearish reaction near the pivot at 2,583.95, which could send the precious metal down toward 1st support at 2,526.68. As the Fed’s interest rate decision approaches, gold’s direction hinges on the dollar and US Treasury yields.
Key Correlations and Impacts:
- DXY and Treasury Yields: A rising DXY or higher Treasury yields could weaken gold, as it becomes less attractive compared to yield-bearing assets. Conversely, a dovish Fed could push yields down, supporting gold prices.
- Risk Sentiment: Gold tends to perform well in times of heightened market risk. However, if the Fed signals a dovish shift, equities may rally, reducing the appeal of safe-haven assets like gold.
Economic Calendar Events Affecting XAU/USD:
- Wednesday: The Fed’s Rate Decision and FOMC Economic Projections will directly impact gold. A hawkish Fed will pressure gold lower, while a dovish tone could spark renewed bullish momentum.
- Tuesday: US Retail Sales (MoM) may impact the dollar, with a stronger print likely capping any potential upside in gold.
Trading Strategies:
- Sell Setup: Short positions below 2,583.95, targeting 2,526.68, with a stop-loss above 2,613.19. This setup aligns with a potential Fed-driven dollar strength, which could weigh on gold.
- Buy Setup (Reversal): Consider long positions if gold bounces off 2,526.68, especially if the Fed turns dovish or if US data disappoints, leading to a weaker dollar.
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