XAUUSD Daily Update: Gold Enters "Strong Bearish Momentum" – Where Are the Opportunities?
Hello TradingView Community!
Hot news from the Gold (XAUUSD) market today! We've just closely analyzed the Daily Chart and spotted a crucial signal: Gold's downward momentum is extremely strong and clear! This indicates that the short-term trend may have shifted, or selling pressure is currently overwhelming other supporting factors.
🌍 Current Macroeconomic Context (A Multi-faceted View):
Previously, we discussed how a weaker USD might support Gold. Indeed, concerns about the Fed's independence (due to rumors of Powell's replacement) and expectations of Fed rate cuts have pushed the USD lower, typically a positive for Gold.
However, the market isn't driven by just one factor. The sustained ceasefire between Israel and Iran is reducing Gold's safe-haven demand. It appears that, at present, factors like decreased safe-haven demand and potentially strong technical breakdowns are prevailing, creating significant selling pressure on the daily timeframe. We also need to emphasize that the market remains very cautious about confirming a bottom for Gold, and we are still awaiting crucial US economic data (especially PCE on Friday) and FOMC speeches.
➡️ In summary: While a weaker USD theoretically supports Gold, the price action on the daily chart clearly shows bears are dominating. We must respect this signal and adjust our strategy accordingly.
📊 XAUUSD Technical Analysis (Focus on Daily Chart - Strong Bearish Momentum!):
Based on the strong bearish signal from the Daily timeframe and key price levels from the chart (image_e9d325.png):
Primary Trend on Daily: Clearly strong bearish momentum. Large, consecutive bearish candles breaking previous support zones indicate overwhelming selling pressure.
Resistance Zones (Potential SELL Opportunities - where price might retrace before falling further):
3313.737 - 3315: This is the nearest and most important resistance area. If the price retraces here, it could present an opportunity to sell.
3321.466 - 3330.483: A stronger resistance zone, if price retraces deeper.
3341.947: Extremely strong resistance, unlikely to be reached in this context unless there's a major trend-reversing news event.
Support Zones (BUY Opportunities - extremely cautious, only for Scalp or clear reversal signals):
3294.414: Immediate support, but could be easily broken if bearish momentum persists.
3276.122: The next support area if the price continues to fall.
3264.400: This is a very strong support and a potential downside target if bearish momentum holds. Consider BUYs here only if price hits this level and shows clear reversal patterns on smaller timeframes.
🎯 Updated XAUUSD Trading Plan (Prioritizing SELLs):
Given the strong bearish momentum on the Daily chart, we will prioritize active SELL entries and approach BUY scalps with extreme caution, only at very strong support levels or with clear reversal confirmations.
1. ACTIVE SELL TRADES (Priority):
SELL ZONE 1 (Selling at near resistance):
Entry: 3313 - 3315 (If price retraces to this area and shows bearish rejection candle patterns on H1/H4)
SL: 3320 (Just above the nearest resistance)
TP: 3310 - 3305 - 3300 - 3295 - 3290 - 3280 - 3276.122 (Next target according to the chart) - 3264.400 (Final target if strong bearish momentum continues)
SELL ZONE 2 (Selling at stronger resistance - if deeper retracement):
Entry: 3331 - 3333 (If price retraces deeper and shows reversal signals)
SL: 3337
TP: 3326 - 3320 - 3316 - 3310 - 3305 - 3300 - 3294.414
2. CAUTIOUS BUY TRADES (Only for Scalp/Clear Reversal Signals):
BUY ZONE (BUY SCALP AT STRONG SUPPORT):
Entry: 3266 - 3264 (Only buy if price hits this zone and shows clear reversal signals on M15/M30, such as reversal candle patterns, RSI divergence, etc.)
SL: 3260 (Very tight, acknowledging higher risk)
TP: 3270 - 3276.122 - 3280 - 3284 - 3290 (Aim for short TPs, no expectation of prolonged uptrend in strong bearish conditions)
INTERMEDIATE BUY SCALP:
Entry: 3284 - 3282 (If price has broken down through here and retraces, wait for confirmation)
SL: 3278
TP: 3288 - 3292 - 3296 - 3300 (Short-term targets only)
⚠️ Crucial Factors to Monitor Closely Today:
Price Action at Resistance/Support Levels: How price reacts at these key marks will dictate the next move.
US Macro Data (especially PCE on Friday): Any surprising news can rapidly reverse the current trend.
FOMC Speeches: Can induce significant volatility in USD and Gold.
Geopolitical Situation: Although currently optimistic, any unexpected developments could reignite safe-haven demand.
Hello TradingView Community!
Hot news from the Gold (XAUUSD) market today! We've just closely analyzed the Daily Chart and spotted a crucial signal: Gold's downward momentum is extremely strong and clear! This indicates that the short-term trend may have shifted, or selling pressure is currently overwhelming other supporting factors.
🌍 Current Macroeconomic Context (A Multi-faceted View):
Previously, we discussed how a weaker USD might support Gold. Indeed, concerns about the Fed's independence (due to rumors of Powell's replacement) and expectations of Fed rate cuts have pushed the USD lower, typically a positive for Gold.
However, the market isn't driven by just one factor. The sustained ceasefire between Israel and Iran is reducing Gold's safe-haven demand. It appears that, at present, factors like decreased safe-haven demand and potentially strong technical breakdowns are prevailing, creating significant selling pressure on the daily timeframe. We also need to emphasize that the market remains very cautious about confirming a bottom for Gold, and we are still awaiting crucial US economic data (especially PCE on Friday) and FOMC speeches.
➡️ In summary: While a weaker USD theoretically supports Gold, the price action on the daily chart clearly shows bears are dominating. We must respect this signal and adjust our strategy accordingly.
📊 XAUUSD Technical Analysis (Focus on Daily Chart - Strong Bearish Momentum!):
Based on the strong bearish signal from the Daily timeframe and key price levels from the chart (image_e9d325.png):
Primary Trend on Daily: Clearly strong bearish momentum. Large, consecutive bearish candles breaking previous support zones indicate overwhelming selling pressure.
Resistance Zones (Potential SELL Opportunities - where price might retrace before falling further):
3313.737 - 3315: This is the nearest and most important resistance area. If the price retraces here, it could present an opportunity to sell.
3321.466 - 3330.483: A stronger resistance zone, if price retraces deeper.
3341.947: Extremely strong resistance, unlikely to be reached in this context unless there's a major trend-reversing news event.
Support Zones (BUY Opportunities - extremely cautious, only for Scalp or clear reversal signals):
3294.414: Immediate support, but could be easily broken if bearish momentum persists.
3276.122: The next support area if the price continues to fall.
3264.400: This is a very strong support and a potential downside target if bearish momentum holds. Consider BUYs here only if price hits this level and shows clear reversal patterns on smaller timeframes.
🎯 Updated XAUUSD Trading Plan (Prioritizing SELLs):
Given the strong bearish momentum on the Daily chart, we will prioritize active SELL entries and approach BUY scalps with extreme caution, only at very strong support levels or with clear reversal confirmations.
1. ACTIVE SELL TRADES (Priority):
SELL ZONE 1 (Selling at near resistance):
Entry: 3313 - 3315 (If price retraces to this area and shows bearish rejection candle patterns on H1/H4)
SL: 3320 (Just above the nearest resistance)
TP: 3310 - 3305 - 3300 - 3295 - 3290 - 3280 - 3276.122 (Next target according to the chart) - 3264.400 (Final target if strong bearish momentum continues)
SELL ZONE 2 (Selling at stronger resistance - if deeper retracement):
Entry: 3331 - 3333 (If price retraces deeper and shows reversal signals)
SL: 3337
TP: 3326 - 3320 - 3316 - 3310 - 3305 - 3300 - 3294.414
2. CAUTIOUS BUY TRADES (Only for Scalp/Clear Reversal Signals):
BUY ZONE (BUY SCALP AT STRONG SUPPORT):
Entry: 3266 - 3264 (Only buy if price hits this zone and shows clear reversal signals on M15/M30, such as reversal candle patterns, RSI divergence, etc.)
SL: 3260 (Very tight, acknowledging higher risk)
TP: 3270 - 3276.122 - 3280 - 3284 - 3290 (Aim for short TPs, no expectation of prolonged uptrend in strong bearish conditions)
INTERMEDIATE BUY SCALP:
Entry: 3284 - 3282 (If price has broken down through here and retraces, wait for confirmation)
SL: 3278
TP: 3288 - 3292 - 3296 - 3300 (Short-term targets only)
⚠️ Crucial Factors to Monitor Closely Today:
Price Action at Resistance/Support Levels: How price reacts at these key marks will dictate the next move.
US Macro Data (especially PCE on Friday): Any surprising news can rapidly reverse the current trend.
FOMC Speeches: Can induce significant volatility in USD and Gold.
Geopolitical Situation: Although currently optimistic, any unexpected developments could reignite safe-haven demand.
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⚜️Risk Reward 1.3 to 2.5...
⚜️Daily 8 to 15 Signals VIP
Get quality daily trading signals and plans here
JOIN NOW
byvn.net/t06K
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
⚜️ Trade with Money Market Flow, logic, Price action 📉📈
⚜️Risk Reward 1.3 to 2.5...
⚜️Daily 8 to 15 Signals VIP
Get quality daily trading signals and plans here
JOIN NOW
byvn.net/t06K
⚜️Risk Reward 1.3 to 2.5...
⚜️Daily 8 to 15 Signals VIP
Get quality daily trading signals and plans here
JOIN NOW
byvn.net/t06K
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.