https://www.tradingview.com/x/VwUu9TD0/ Buy Above 895.3 Risk: Reward- 01:01 Target and stop Loss: 4% 1.Parallel downward channel Resistance breakout and retest 2.Good green bars formation 3.Double bottom( W Pattern) and resistance in RSI 4. 21 EMA Support taken 5.Bullish fair value gap rejection 6. Bounced from Resistance turned to support zone
The Fed’s approach to interest rate cuts will be pivotal for gold prices. BMI forecasts acumulative reduction of 125 basis points (bps), bringing rates to 3.50% by the end of 2025. However, the Fed's decisions will hinge on inflation, labor market, and economic data, introducing uncertainty. If rate cuts are slower or smaller than expected, gold could face downward pressure due to its lack of yield. Conversely, aggressive cuts could drive investors toward gold as a safe-haven asset. Strength of the U.S. Dollar A robust U.S. dollar could spell trouble for gold prices. The dollar’s recent rally, fueled by higher growth expectations, fiscal deficits, and inflationary pressures from trade policies, has reduced gold’s appeal. While BMI expects the dollar to remain strong initially, it could soften as global risk assets perform well. Geopolitical and Economic Risks Geopolitical tensions, including the Russia-Ukraine war, Middle Eastern conflicts, and rising trade disputes under Trump’s presidency, will provide some support for gold as a safe haven. However, these risks may not be sufficient to counteract other bearish factors. On the economic front, BMI forecasts global growth to remain stable at 2.6% in 2024 and 2025, with risks on both sides. Upside factors include potential tax cuts and increased oil production in the U.S., while downside risks stem from escalating tariffs, supply-side inflation, and regional conflicts. Inflation Dynamics Inflation, a traditional driver of gold demand, is expected to ease in 2025. While trade-related risks could spur localized inflationary pressures, the overall outlook suggests a slowdown in gold’s appeal as an inflation hedge. Technically, we might me at the top of the channel, were 3 wave ended at 261.8% extension. For that matter, we might see a 38.2 or 50% correction before the beginning of wave 5.
MA200 has been confirmed as support. It was challenged twice on a wick but the close happened much higher... Good afternoon my fellow trader, we have some really good dynamics developing today. Crypto is bullish. Bitcoin is bullish and the Altcoins are moving up. Slowly but surely but that's how we get into long-term growth. A long-term bullish phase tends to start slowly, it takes time to develop, but once momentum grows the rising wave can last many months. In previous bullish moves all the growth was compressed within 30 days. That is, 1-2 months of consolidation and then another month for the final advance. Now it will be different. The final advance can last anywhere between 2-4 months. It will be awesome. Bitcoin is producing a very beautiful and strong recovery. It is my pleasure to say that we are all on the same page now, we can all agree; Bitcoin is going up. This is a short-term view, zoomed-in, a rising triangle with the next target being $97,700 follow by $103,000. There will be more growth for sure. We have the full trade numbers with 10X in a previous publication. This is will be a long-term trade for those interested in Bitcoin with lev. It is still early. Bitcoin is a great buy below 90K, also below 100K based on the long-term. Bitcoin will never move below 80K. This is very unlikely. Most likely, we will see growth daily, for months, and then some more. If you enjoy the content, feel free to follow. Leave a comment if you have any questions. If you agree, comment. If you disagree, comment again. Your views and opinions are very important, share them with the rest of us. We can learn from each other, and, after all, we are here to learn. Namaste.
Reverse H&S.... USD falling .... tariff threats .... trade war ... Ukraine-Russia ... Watch out for initial jobless claims tomorrow and NFP Friday, target 3100
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