XAUUSD 4 HOUR CHART -RANGE?
As I have been noting XAUUSD has been trading in a symmetric 0 pip range either side of 2500, a level that sets its bias.
It is currently back above 2500 so trading with a bid (as can be seen by the rising red Amazing Trader ladder lines) but would need to take out 2531 to break the current range
Sept. 6 (Reuters) – A look at the day ahead in U.S. and global markets from Mike Dolan
Friday looks set to play out like a concentrated version of what markets have been navigating all year – what’s the fine balance for the U.S. economy to both dodge recession and allow interest rates to come down at the same time.
Morning Bid: Payrolls, Williams and Waller – a big decider
GBPUSD Daily
Supports : 1.31600 , 1.31200 & 1.30850
Resistances : 1.31950 , 1.32450 & 1.32650
To be able to continue Up, it has to stay above 1.31500.
What I don’t like with this picture is the fact that Cable tends to go in the deeper corrections after such a Rally.
Playing on the Top is never an easy game – so avoid making big conclusions right now – this is 50:50 situation.
I am going to go on a limb now and say it clearly : I expect Cable to nose dive from around here .
But what I expect or want is not necessarily what will happen.
SYDNEY, Sept 6 (Reuters) – Asian shares struggled for direction while the yen jumped on Friday, as investors remained on tenterhooks ahead of U.S. jobs data that could decide the size and speed of coming rate cuts in the world’s largest economy.
Oil prices are staring down their worst week in more than a year to hover just above a critical chart level, with their near-term fate depending on the payrolls report due later in the day.
KEY POINTS
Wall Street is gearing up for one of the most important economic releases of the year Friday.
The consensus is for the nonfarm payrolls report to show growth of 161,000 for August and a slight decline in the unemployment rate to 4.2%.
Markets are certain the Fed will start lowering interest rates in a couple weeks, with the possibility of a jumbo cut depending on what Friday’s report shows.
Friday’s jobs report for August is going to be huge. Here’s what to expect
Summary
Dollar down 5% from 2024 highs
Investors bet on big US rate cuts ahead
Dollar decline overdone, some strategists say
Strength of US economy key to dollar
trajectory
NEW YORK, Sep 5 (Reuters) – The U.S. dollar’s decline is gaining speed as anticipated interest rate cuts by the Federal Reserve threaten to end the greenback’s years-long period of strength.
Investor bets shift as dollar weakens with looming Fed rate cutsNeed to talk to
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