Gold Price Analysis: XAU/USD corrects sharply from all-time highs, dives to $1900 neighbourhood
28 July 2020, 11:03
•Gold on Tuesday witnessed a dramatic intraday turnaround from all-time highs.
•A goodish USD rebound from two-year tops exerted heavy pressure on the metal.
•Technical selling below the $1945 level further aggravated the bearish pressure.

Gold extended its sharp retracement from all-time highs and dived to fresh session lows in the last hour, with bears now eyeing a break below the $1900 mark.

The precious metal witnessed a dramatic intraday turnaround following the Asian session uptick to the $1980 region and snapped seven consecutive days of the winning streak. The pullback was exclusively sponsored by a goodish US dollar rebound from two-year lows, which tends to undermine demand for the dollar-denominated commodity.

Expectations that policymakers have moved closer to agreeing on the next US fiscal stimulus package extended some support to the USD. This coupled with a strong pickup in the US Treasury bond yields provided an additional boost to the buck and further collaborated towards driving flows away from the non-yielding yellow metal.

Given the recent strong rally of over $180 since July 17 swing lows, investors also seemed inclined to take some profits off the table amid extremely overstretched conditions on short-term charts. This, in turn, triggered some aggressive long-unwinding trade and took along trading stops placed near the overnight swing high, around the $1946 region.
However, worries that the economic recovery in the US could be grinding to a halt in the wake of the resurgence in coronavirus cases might extend some support to the precious metal's safe-haven status. This coupled with speculations that the Fed will make its forward guidance more dovish should further help limit any deeper losses.

Hence, it will be prudent to wait for some strong follow-through selling before confirming that the commodity might have topped out in the near-term and positioning for any further depreciating move. That said, a convincing break below the $1900 mark is likely to accelerate the corrective slide further towards the $1865-60 support area.

Saeid, I have 4 open trades on sell since 1.12639, do you think it is better to close them only? Or do I leave them there?

Wait for now. A big retracement according to our calculations, with a probability of 70%, will happen.

Powell speech: Important lending facilities stay in place until economic fallout is behind us
29 July 2020, 21:45
Following the Federal Open Market Committee's (FOMC) decision to keep the policy rate unchanged within the target range of 0-0.25%, Jerome Powell, Chair of the Board of Governors of the Federal Reserve System, is delivering his comments on the policy outlook.
Key quotes
"Extension of dollar swap lines is to facilitate planning by other central banks."
"Fed will leave swap lines in place until it is confident they are no longer needed."
"Fed has not done as much lending as it originally thought."
"It is still important lending facilities stay in place until the Fed is very confident that the economic fallout is behind us."
So the Fed's policy is to expand or inject money.
The possibility that the dollar's decline. It will be 70%.

Sales of "Kiss on billions on EURUSD" and other my products have stopped from today.
You are responsible for purchasing any product called "Kiss on billions on EURUSD" and "Saeid Irani".
Because all these products are fake.

We will only send new updates to our old customers.
Those who were satisfied with us.

I'm fine, but the daily insults in the comment section had tired me and the group.

Friends, doing the update has many side effects, now we can not do the update without considering the possible risks. Please let go of the notion that updates make you more profitable.
You all now have different accounts that are traded by KOB in the market.
If the update was good, we would do it every day. In these three months, we have prepared and finalized at least 6 updates, but we have come to the conclusion that the current update works well.
We have now, with past experience, designed a new structure on which to conduct experiments. In addition, it must be in accordance with the previous structure. Because most of the time you have open positions.
Now the power of our research is parallel. 10 highly advanced research instead of one research.
Maybe in 6 weeks we will provide a reliable update.
Our No. 7 system is now showing good results under testing.
Rest assured we are on the one hand a beneficiary, your benefit is our benefit.
I wish success to all of you.

Please do not use my images, information and brands.
Because it is registered and will lead to legal and judicial prosecution for you.
For more information, please visit this channel.
Best regards,
Saeid Irani
CEO of SAAA Financial Group
seller of "Kiss on billions on EURUSD" EA

Dear friends,
We appreciate your kindness and interest.
My group and I do not intend to sell the robot at the moment, we have been humiliated, insulted and robbed a lot.
Our research is 30 years ( Man-hours ) with a servers of 1760 CPU cores.
We created a science that goes far beyond the science of the world's great universities like Harvard.
But why sell this science cheap?
We are only committed to our old customers and will provide updates, or if large organizations such as Insta, Facebook, Twitter, etc. agree to our contracts, we will offer our robot for free.
It will take several months for the final decision.
Best regards

happy New Year. Have a year full of God's blessings and health and happiness. We work on new strategies whenever we feel that your profit will increase in the past year. We will provide a new update.
Saeid Irani
Best regards

We have not left my customers. The group has been working on a new product for 9 months now, which will be updated on previous KOBs and may take another 7 months. We want to offer products to the market that have a risk close to zero. At mql5.com, only updates will be provided for previous customers and we are researching sales methods outside mql5.com.
Best regards
Saeid Irani

It is true that customers managed capital, they have not lost at all so far, but we are working on strong capital management codes and software inside the new product, then we will use this strong pattern for all currency pairs and stock indices.

Designing a robot or EA is like designing a warship. I know you are unhappy with the new update. But let 's have a strong and reliable product. It is true that KOB was the best market in 2019 and 2020 and still has a relatively good performance. But I'm not happy with KOB, and the customers were badly hurt by me during the big DD. I wasted a year selling my robot. But I do not want to ruin my name.

What would be the delivery deadline then?

We can not give a deadline. Because research, testing and optimization take a lot of time. So far in these 9 months 4 times, the new product was ready to be marketed, but in the final tests showed great risks, you think you have built a spacecraft, which outside the atmosphere you will encounter an infinite meteorite that you do not know . That this will destroy the spacecraft, we say again, we want to offer a powerful product, but this product must repel the market movement and the shocks it inflicts.