Technical My Tips

📊 Gold grows due to rising geopolitical tension Yesterday, gold (XAU) rose and gained 1.9%, breaking above the resistance level of $2,600. The pair grew after a significant weekly decline. 👉 Possible effects for traders The rise in gold prices is attributed to a combination of factors, including geopolitical uncertainties, declining U.S. bond yields, and weak demand for the U.S. dollar (USD). Yesterday, the U.S. President, Joe Biden, granted Ukraine permission to use American long-range missile systems against military targets in Russia. This development could escalate the conflict and fuel geopolitical uncertainty, leading to an additional infusion of funds into the gold market. The market has already begun to factor in this possibility, so XAUUSD rose. As for the U.S., experts anticipate that the policies of the newly elected President, Donald Trump, may lead to increased inflation and limit the potential for further interest rate reductions by the Federal Reserve (Fed). According to economists, the Trump administration will likely prioritise tax reductions and tariff hikes, which may contribute to inflation rise and force the Fed to pursue a less aggressive easing cycle. Gold rose in the Asian trading session. XAUUSD will likely continue rising towards $2,650 and further, as it broke above the resistance level of $2,600 and didn't show any signs of reversal. ‘Spot gold may rise into a range of $2,638 to $2,646 per ounce, as it shows little sign of completing around the peak of the wave 4 at $2,619’, according to Wang Tao. ➡️Sign Up Now ➡️ https://tlt.ink/octa Partner Code ➡️ 3788810

📊 Canadian dollar strengthens on rising oil prices and recent reports USDCAD dropped by 0.53% on Monday. There's little news to guide market direction, with a reversal of some of the big moves from last week. 👉 Possible effects for traders The market's focus has shifted back to the possibility of the Federal Reserve (Fed) easing monetary policy, with no major announcements about newly elected U.S. President Donald Trump's picks for the Treasury or trade posts. Strong U.S. economic data, combined with the expectation of higher inflation from Trump's tariff plans and tighter immigration rules, has lowered the chance of a December rate cut to around 58%, according to the CME FedWatch Tool. While markets still think there will be a 25-basis-point (bps) rate cut in December, expectations for reductions in 2025 have dropped to less than 80 bps compared to 100 bps just a few weeks ago. On Monday, the Canadian dollar (CAD) strengthened against the U.S. dollar (USD). The 10-year Canadian government bond yield rose by 0.5 bps towards 3.277%, while the U.S. 10-year yield fell towards 4.4138%. Oil prices rose by $2.14 on Monday towards $69.16 per barrel, benefitting CAD as Canada is a major oil exporter. Also, Canadian housing starts for October were 240,800—higher than expected and up from the previous month's revised number of 223,400. USDCAD has been trading sideways during Asian and early European trading hours. Today, two major reports will come out: the Canadian Consumer Price Index (CPI) and the U.S. Building Permits, both at 1:30 p.m. UTC. If CPI figures are higher than expected, USDCAD may decline further, while milder data may support the pair and push it towards new highs. Better U.S. Building Permits data will support USDCAD, while soft data may accelerate pair's decline. ➡️Sign Up Now ➡️ https://tlt.ink/octa Partner Code ➡️ 3788810

📊 Euro's decline pauses, but fundamental weakness persists The euro (EUR) gained 0.55% against the U.S. dollar (USD) on Monday but failed to close above the critical 1.06000 level. 👉 Possible effects for traders Yesterday, EURUSD's rally was most likely the result of technical buying after a drop towards a 13-month low prompted some traders to close their short positions and take profit. Fundamentally, the pair still looks weak, and the rally was probably a technical rebound. On Monday, two top European Central Bank (ECB) policymakers signalled they were more worried about U.S. trade tariffs than inflation. Indeed, some analysts fear Trump's second term could bring a major trade war with China, with ramifications for Europe and possible retaliation. Still, ECB officials said they were confident inflation would stabilise at 2% next year and monetary policy would follow suit. The market currently prices in a 78% probability of a 25-basis-point rate cut by the ECB in December. At the same time, the market prices in less than a 60% probability of a similar reduction by the Federal Reserve (Fed) next month. EURUSD was falling during the Asian and early European trading sessions. Today's macroeconomic calendar is uneventful, and only the U.S. Building Permits data due at 1:30 p.m. UTC may trigger some volatility. However, even if the figures are lower than expected, they are unlikely to break the underlying bearish trend in EURUSD. Conversely, higher-than-expected numbers may push the pair towards previous lows near 1.05000. ➡️Sign Up Now ➡️ https://tlt.ink/octa Partner Code ➡️ 3788810

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📊 Gold grows after a long decline Gold (XAU) continues its correction, although the decline has slowed near the support level of around $2,550. On Friday, volatility was low, and XAUUSD lost only 0.07%. 👉 Possible effects for traders On Monday, gold rose sharply by over 1% as the U.S. dollar (USD) growth stalled. Investors are awaiting Federal Reserve (Fed) officials' comments on future interest rate policies to outline the USD trend. This rise follows a sharp weekly decline—the steepest in three years—after Donald Trump's U.S. election victory. A stronger USD and expectations of potential Trump policies, such as lower interest rates, higher inflation, and reduced taxes and tariffs, drove the XAUUSD decline. This week, investors will pay attention to the S&P Global Composite Flash Purchasing Managers' Index (PMI) data from the U.S. on Friday. Also, Fed members will deliver their speeches and may provide insights into future monetary policy decisions. These developments are expected to significantly influence the direction of gold prices in the short term. XAUUSD found support at $2,560 and may rise towards $2,620 at the start of the week. If prices manage to hold above the $2,600 resistance level, the downward correction may be over. ➡️Sign Up Now ➡️ https://tlt.ink/octa Partner Code ➡️ 3788810