GOLD / Consolidation Near Resistance Ahead of Year-End MovesGold Technical Analysis
The price is about to reach the resistance line which is 2636 and then will consolidate between 2636 and 2620 until a breakout occurs.
If the price breaks above 2638 with a 4-hour candle close, it signals a continuation of the bullish trend toward 2653.
Conversely, stability below 2620 could drive the price down to 2605.
Key Levels:
Pivot Point: 2628
Resistance Levels: 2636, 2645, 2653
Support Levels: 2620, 2605, 2591
Trend Outlook:
Bearish below 2620
Bullish above 2623
D-XAU
Gold Analysis: Key Levels and Trends on the Year's Final DayGold Technical Analysis
The price continues to consolidate within the range of 2,620 and 2,604, awaiting a breakout.
A 1-hour or 4-hour candle closing below 2,604 would confirm a bearish trend, with potential targets at 2,585 and 2,558.
Conversely, if a 4-hour candle closes above 2,623, it would signal a bullish trend, paving the way for upward movement toward 2,636 and 2,653.
Key Levels:
Pivot Point: 2615
Resistance Levels: 2623, 2636, 2645
Support Levels: 2604, 2591, 2585
Trend Outlook:
Bearish below 2604
Bullish above 2623
previous idea:
GOLD:Will the U.S. Dollar Cap Gold Gains?Analyzing Market TrendsGold prices have seen a surge in buying activity as the week begins, aiming to build upon the recovery initiated from a one-month low reached last Thursday. Analyzing the market from a technical perspective, we've observed the price hitting our pending order level. According to the Commitment of Traders (COT) report, retail traders remain bullish while commercial traders have shifted to a bearish stance over the past week. This dynamic suggests that we are anticipating a bearish continuation in gold prices despite ongoing geopolitical tensions, including the prolonged Russia-Ukraine conflict and escalating tensions in the Middle East. Additionally, fears surrounding trade wars continue to create a backdrop that benefits the safe-haven appeal of gold.
However, the strength of the U.S. Dollar (USD) presents a contrasting scenario that could further suppress gold prices. Recently, there has been a resurgence in dip-buying within the USD, fueled by the Federal Reserve's hawkish signals and rising U.S. Treasury yields. These factors are likely to impose additional constraints on gold, a non-yielding asset, limiting its upside potential. In summary, while the geopolitical landscape might support gold's appeal, the prevailing strength of the dollar could undermine any significant price increases in the near term.
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GOLD - Price can correct to support line and then bounce upHi guys, this is my overview for XAUUSD, feel free to check it and write your feedback in comments👊
A few days ago price entered to triangle, where it at once broke $2700 level and then fell to support line of this pattern.
Also, Gold broke $2595 level, but some time later it turned around from support line and soon broke $2595 level again.
Later Gold rose to resistance zone, after which made correction and then reached support line of triangle.
Then price made upward impulse, thereby exiting from triangle and breaking $2700 level, and started to trades in pennant.
In this pattern, price broke $2700 level one more time and declined to support level, after which rose to resistance line.
In my mind, Gold can fall to support line and then bounce up to $2660, exiting from pennant.
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XAUUSD 30/12/24Our final gold markup before 2025 arrives and we transition into a new trading year! As expected, the Christmas period brought low trading volume, which leads us to review the setups from last week. With the New Year approaching quickly, we anticipate volume will remain low until 2025. Here’s last week’s text for additional context.
XAUUSD Analysis
Last week, we began with a bullish bias, but our outlook quickly shifted to bearish by Monday's close. This shift led to the significant downside movement observed during the latter half of the week, driven by fundamentals. We saw a substantial run targeting the lower levels, which brings us to today’s bias, which remains bearish.
Currently, we are focused on the three liquidity lows as our primary targets. As always, we look to the highs within the range to provide optimal entries for these targets. At the moment, there is a high in the middle of the range, but we are prioritizing the higher, more favorable highs for potential short positions. If an entry aligns with our plan, this could lead to the final sell-off of the week before the New Year approaches.
Trade safe and stick to your plan.
Bearish drop off overlap resistance?XAU/USD is rising towards the resistance level which is an overlap resistance and could drop from this level to our take profit.
Entry: 2,632.65
Why we like it:
There is an overlap resistance level.
Stop loss: 2,655.19
Why we like it:
There is a pullback resistance level that lines up with the 50% Fibonacci retracement.
Take profit: 2,593.01
Why we like it:
There is a pullback support level.
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HelenP. I Gold can break support level and fall to trend lineHi folks today I'm prepared for you Gold analytics. Some time ago, the price broke the resistance level, which coincided with the resistance zone, and rose to 2720 points, after which it made a strong impulse down to the support level, breaking the resistance level. Next, the price turned around from the 2610 level and started to grow, and when it almost reached the resistance level, Gold made a correction to the support level. After this, the price turned around and in a short time rose to the resistance level, broke, and later rose to the trend line. Then the price turned around and started to decline, so, in a short time it fell to the 2675 resistance level, broke it, and continued to fall next. Gold declined to the support level and even broke it and fell lower even support zone. But soon it turned around and rose to the trend line, after which it broke this line and continued to move up. Recently XAU dropped to the support level and now trades close to it. For this case, I expect that XAUUSD will make a small move up and then continue to decline to the trend line, breaking the support level. That's why I set my goal at 2575 points. If you like my analytics you may support me with your like/comment ❤️
Gold can drop to support line of wedge, breaking support levelHello traders, I want share with you my opinion about Gold. By observing the chart, we can see that the price some time ago reached a resistance level, which coincided with the seller zone and broke it. After this, the price rose to 2721 points and then made an impulse down to the support level, which coincided with the support line of the wedge, breaking the resistance level. Next, Gold started to trades inside the range, where it rose to the 2665 resistance level, but then made a correction to the bottom part of the range. After this movement, the price started to grow and reached the resistance level again, and even broke it, thereby exiting from the range and continuing to move up. Price rose to the resistance line of the wedge, turned around, and quickly dropped below the resistance level, breaking it again. Later price fell to the support line of the wedge, breaking the support level, but a not long time ago it rebounded up the top resistance line, breaking the 2605 level one more time. At the moment, I think that the price can rebound from the resistance line and start to decline to the support line of the wedge pattern, breaking the support level. For this case, I set my TP at 2575 points. Please share this idea with your friends and click Boost 🚀
GOLD bullish movement continuesThe FOREXCOM:XAUUSD is in a ascending triangle now which means the price will increase and also It is expected that the price would at least grow as good as the measured price movement(AB=CD)
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⚠️Things can change...
The markets are always changing and even with all these signals, the market changes tend to be strong and fast!!
Gold in corrective phase then trend resumes?Currently gold is in a corrective phase. My expectations for is a further climb to around 2650-2655 range. In the daily timeframe we can see Supply zone. A good rejection may follow here. Notice the support trend below, If it still get respected gold can push up again. A break below after confirmation will shift our technical analysis, and selling the market becomes prio.
Resistance: 2635, 2643, 2651
Support: 2622, 2613, 2604
GOLD - Price can correct to support line and then bounce upHi guys, this is my overview for XAUUSD, feel free to check it and write your feedback in comments👊
Some time ago price made upward impulse and reached $2670 resistance level, which coincided with resistance zone.
Next, price broke this level, and entered to triangle, where it declined to $2605 support level, breaking $2670 level.
In triangle, price trades tried to back up, but failed and fell below support line, exiting from triangle pattern.
Then Gold in a short time rose to $2726 points, breaking resistance level, after which started to decline inside pennant.
Inside this pattern, price declined to $2583 points, breaking $2670 and $2605 levels, but recently broke $2605 level again.
I think that Gold can decline to support line and then bounce up to $2660, leaving pennant pattern.
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GOLD - Price can break support level and continue to fallHi guys, this is my overview for XAUUSD, feel free to check it and write your feedback in comments👊
Recently price reached resistance line and then at once declined to support line, after which started to grow.
A short time later, Gold rose to $2685 level, broke it, and then rose to resistance line one more time.
After this movement, price turned around and started to decline inside falling channel, where it broke support line with $2685 level.
Gold continued to fall, but later it reached resistance line, after which made downward impulse.
Price broke $2615 level and fell to support line of channel, after which bounced up, exiting from channel.
Now it trades close $2615 level and possible that Gold can little grow and then fall to $2570, breaking support level again.
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HelenP. I Gold can correct to support level and then start growHi folks today I'm prepared for you Gold analytics. After looking at the chart, we can see how the price rebounded from the support level and started to grow to the resistance level, which coincided with the resistance zone. When the price reached this level, it broke it and then continued to move up to the trend line. After Gold reached the trend line, it turned around and started to decline inside the triangle pattern, where it soon broke the resistance level one more time. Next, the price tried to back up but failed and fell until to 2536 points, breaking the support level too, after which it quickly rose higher level, and broke this level again. After this movement, price rose to the resistance zone, after which at once rebounded down and some traded almost near the 2605 support level. Some time later price rose to the resistance zone again, where it reached the trend line and then dropped to the support zone. Recently price rebounded from this area and started to trades near the support level. So, I think that XAUUSD will fall to the support level and then start to grow inside the triangle. That's why I set my goal at 2660 points. If you like my analytics you may support me with your like/comment ❤️
Potential bearish drop?XAU/USD has reacted off the resistance level which is a pullback resistance and could drop from this level to our take profit.
Entry: 2,627.88
Why we like it:
There is a pullback resistance level.
Stop loss: 2,655.19
Why we like it:
There is a pullback resistance level.
Take profit: 2,585.75
Why we like it:
There is a pullback sup [port level.
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Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
Gold Price Consolidation and Breakout Analysis: Key Levels...
Gold Technical Analysis
The price is expected to consolidate between 2620 and 2605 until a breakout occurs. From 2620, Gold is likely to experience a bearish movement toward 2605. A 1-hour candle closing below 2605 will support further bearish momentum toward 2591 and 2585.
On the other hand, if a 4-hour candle closes above 2623, it will confirm bullish momentum, targeting 2638 and 2658.
Key Levels:
Pivot Point: 2620
Resistance Levels: 2635, 2645, 2653
Support Levels: 2605, 2591, 2558
Trend Outlook:
Bearish below 2620
Bullish above 2623
Potential bearish drop?The Gold (XAU/USD) has reacted off the pivot and could drop to the 1st support which has been identified as a pullback support.
Pivot: 2,626.87
1st Support: 2,585.55
1st Resistance: 2,664.92
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
XAUUSD - 15m | SELL SELLSimple trading - Wyckoff Event
This is an extremely short-term pattern, and there is not much to explain here. Other than this, the pattern/event happens when the market makes a big dip and starts to consolidate. AKA "accumulation phase"
Expect the market to fall back down to the previous support area 2595-2585. After this fall the market should reject support and continue its bullish trend to ATH
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🔥 Happy Monday, everyone! 🔥
🎄The Christmas week is about to begin🎄 I’ll keep posting but will take a break from live sessions.
❤️ I wish you all a 🎄 Merry Christmas 🎄 – spend it with your loved ones and recharge your energy.
And remember: don’t throw away all the hard work you’ve done so far! Avoid being influenced by a market that, due to the year-end closure and the holidays, might be unreliable.
| GOLD ANALYSIS |
Short-term structures for our colleague Gold remain bearish.
I’ll stay short from interesting levels.
The long-term macro perspective is still bullish, but there are currently no conditions to consider significant re-entries.
Potential levels are lower, so the key areas I’ll focus on are as follows: .
As usual, we’ll meet live at 2:30 PM. I avoid trading during the Asian and London sessions, preferring to wait for the 2:30 PM news and the New York open.
In the meantime, I wish you a great day.
We’ll continue sharing analyses and holding live sessions on TradingView.
For any questions, doubts, or requests, feel free to comment or message me!
I’ll be happy to reply.
- HAPPY TRADING
- MANAGE YOUR RISK
- BE PATIENT
Could the price reverse from here?The Gold (XAU/USD) is rising towards the pivot and could reverse to the pullback support.
Pivot: 2,673.21
1st Support: 2,556.21
1st Resistance: 2,719.79
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.