BULL'S TRADING SIGNALS

🧷 The U.S. dollar rose slightly Friday, on course for a positive week, while sterling slipped after the release of weak retail sales data. At 04:10 ET, the Dollar Index, which tracks the greenback against a basket of six other currencies, traded 0.2% higher to 104.065, rebounding from near four-month lows and on track for the first weekly gain in three.  🧷 GBP/USD traded 0.2% lower at 1.2914, heading lower after climbing to a one-year high earlier in the week. U.K. retail sales fell 1.2% in June against an estimated 0.4% fall, suggesting the British consumer was feeling pinch from the high interest rates. 🧷 Spot gold prices climbed again on Thursday, driven by growing expectations that the Federal Reserve might start cutting rates by September as well as softer inflation figures and dovish hints from the central bank.  Clearly, the gold rush has gained momentum this week and shows no signs of slowing down. In this article, we look at key drivers behind the recent rally in gold prices.

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All TP targets were hit ✅ Trade results: + 110 Pips

Daily News 🧷 The yen rose broadly on Wednesday though traders and analysts were unsure of what was behind the move, while sterling scaled a one-year top after hotter-than-expected UK inflation data. The dollar fell more than 0.8% against the yen to a session-low of 157.01, putting traders on alert for signs of another intervention from Japanese authorities to prop up the currency. 🧷 The dollar was on the back foot in the broader market, with the euro rising 0.1% to $1.0910, while the Australian dollar The dollar index fell 0.18% to 104.03. While Tuesday's U.S. retail sales data pointed to consumer resilience and bolstered second-quarter growth prospects in the world's largest economy, that failed to significantly alter market views for a rate cut from the Federal Reserve in September, which is now fully priced in. 🧷 Gold prices rose to record highs in Asian trade on Wednesday, extending a strong run of recent gains amid growing optimism that the Federal Reserve will cut interest rates in September.  Spot prices rose 0.2% to  a record high of $2,478.65 an ounce, while gold futures expiring in August hit a record high of $2,483.65 an ounce.  Gold buoyed by rate cut bets 

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USDJPY SELL Entry Price: 158.60 TP1: 158.20 TP2: 157.90 TP3: 157.50 SL: 158.96

Daily News 🧷 Most Asian currencies moved in a flat-to-low range on Tuesday as speculation over a Donald Trump presidency helped the dollar rise past increased bets on interest rate cuts.  The Japanese yen underperformed its peers, pressured by a stronger dollar and drawing persistent warnings from authorities over currency market intervention.  🧷 The Japanese yen weakened on Tuesday, unwinding more of a recent recovery against the dollar. The USDJPY pair rose 0.4% to 158.64, after tumbling from nearly 162 last week. The pair’s sharp fall came as the dollar weakened substantially last week. But it had also drummed up speculation over whether the Japanese government had intervened in currency markets to support the yen. 🧷 Gold prices rose in Asian trade on Tuesday, coming within sight of new highs amid increased bets that the Federal Reserve will begin cutting rates from September.  But gains in gold were limited by some resilience in the dollar, as increased speculation that Donald Trump will win a second term as president boosted the greenback.

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🧷 The dollar steadied against a basket of currencies on Friday after softer-than-expected inflation data saw the greenback sink to one-month lows, amid increased bets that the Federal Reserve will cut interest rates in September. 🧷 The euro moved little against the dollar German wholesale price index inflation data read slightly weaker than expected for June. The EURUSD pair steadied after surging to an over one-month high against the dollar on Thursday. The British pound was also flat, with the GBPUSD pair moving little after rallying to a near one-year high against the dollar on Thursday. The pound was also buoyed by data on Thursday which showed the British economy grew more than expected in May. 🧷 Broader foreign exchange markets were somewhat cautious amid volatility in the Japanese yen. The Japanese currency strengthened sharply on late-Thursday, which sparked speculation over whether the Japanese government had intervened in currency markets.

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TP1 was Hit But we did not change SL in time, so lets leave it open

XAUUSD SELL Entry Price: 2380 TP1: 2377 TP2: 2373 TP3: 2370 SL: 2383

🧷 Gold prices rose slightly in Asian trade on Wednesday as comments from Federal Reserve Chair Jerome Powell sparked increased speculation over when the central bank will begin cutting interest rates. Gold saw some strength in recent sessions as the dollar dropped amid increased expectations for a September rate cut. But the yellow metal stalled as the Fed still gave no clear signals on the path of interest rates. 🧷 Most Asian currencies moved in a flat-to-low range on Wednesday as the dollar found some strength after Federal Reserve Chair Jerome Powell offered no direct cues on interest rate cuts. The dollar index and dollar index futures recovered further from recent losses, steadying in Asian trade after Powell flagged cooling in the labor market and progress towards bringing down inflation.  But the Fed Chair said that any reductions in interest rates will be largely dependent on data, and reiterated the Fed’s commitment to meeting its 2% inflation target. 🧷 EURUSD slipped slightly to 1.0819, not far from Monday's nearly four-week peak of 1.0845. The single currency also dipped as low as 1.0791 that same day in volatile trading. Traders are still trying to digest the implications of Sunday’s second round of parliamentary elections in France, with the country now facing a hung parliament and difficult negotiations to form a government.

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Daily News 🧷 EURUSD rose 0.1% to 1.0794, with the euro benefiting from the dollar weakness, although the single currency may struggle to hold onto its gains amid regional political uncertainty. The European Central Bank should not rush into its next interest rate cut, Slovenia's central bank governor Bostjan Vasle said on Wednesday, as a host of risks could still derail eurozone disinflation. 🧷 The U.S. dollar slipped lower in early European trade Thursday as weak economic data raised expectations of interest rate cuts by the Federal Reserve, while sterling edged higher as the U.K. went to the polls. The dollar retreated slightly Thursday, continuing Wednesday’s weakness, after the release of data showing softer-than-expected ADP employment figures and a weak purchasing managers index reading on non-manufacturing activity. 🧷 Gold prices steadied at a 10-day high in Asian trade on Thursday after growing bets on interest rate cuts by the Federal Reserve pulled down the dollar and Treasury yields. But gold’s advance was stalled by hawkish signals from the minutes of the Fed’s June meeting, while anticipation of key nonfarm payrolls data kept traders cautious. The yellow metal marked strong gains on Wednesday, tracking a sharp fall in the dollar as traders upped their bets for a rate cut in September. 

Daily News 🧷 Gold prices steadied at a 10-day high in Asian trade on Thursday after growing bets on interest rate cuts by the Federal Reserve pulled down the dollar and Treasury yields. But gold’s advance was stalled by hawkish signals from the minutes of the Fed’s June meeting, while anticipation of key nonfarm payrolls data kept traders cautious. 🧷 The U.S. dollar slipped lower in early European trade Thursday as weak economic data raised expectations of interest rate cuts by the Federal Reserve, while sterling edged higher as the U.K. went to the polls. The dollar retreated slightly Thursday, continuing Wednesday’s weakness, after the release of data showing softer-than-expected ADP employment figures and a weak purchasing managers index reading on non-manufacturing activity. 🧷 EUR/USD rose 0.1% to 1.0794, with the euro benefiting from the dollar weakness, although the single currency may struggle to hold onto its gains amid regional political uncertainty. The European Central Bank should not rush into its next interest rate cut, Slovenia's central bank governor Bostjan Vasle said on Wednesday, as a host of risks could still derail eurozone disinflation.

Yesterdays trade results

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TP2 Hit Current Profit: +50 Pips