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GOLD - Price can exit of pennant and then break resistance levelHi guys, this is my overview for XAUUSD, feel free to check it and write your feedback in comments👊 Recently price entered to falling channel, where it at once broke $2375 level and fell to support line of channel. Then price some times tried to rise, but anyway fell back to support line, which coincided with $2320 level. Later Gold made upward impulse higher than $2375 level, breaking it and exiting from falling channel. Soon, price turned around and quickly declined lower than $2375 and $2320 levels inside pennant. Also recently, price turned around and started to grow, so, in my mind, price can exit from pennant and reach resistance level. After this, Gold can break $2320 resistance level and continue to grow to $2340 If this post is useful to you, you can support me with like/boost and advice in comments❤️
OANDA:XAUUSDLong
by WalterMoon
6
Heading into pullback resistance, could it reverse from here?The Gold (XAU/USD) is rising towards the pivot which acts as a pullback resistance and could reverse to the pullback support. Pivot: 2,319.97 1st Support: 2,286.09 1st Resistance: 2,351.54 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.
ICMARKETS:XAUUSDShort
by ICmarkets
GOLD Struggles as Robust NFP Report Boosts USDGold has entered a bearish consolidation phase following the release of a robust Nonfarm Payrolls (NFP) report, which revealed that the US economy created significantly more jobs than anticipated in May. This unexpected job growth has prompted investors to reconsider their expectations for a September interest rate cut by the Federal Reserve (Fed). Consequently, US Treasury bond yields remain elevated, and the US Dollar (USD) has surged to nearly a one-month high, creating a challenging environment for the non-yielding yellow metal. Market Dynamics 1. Strong NFP Report: The recent NFP report showed substantial job creation, far exceeding market expectations. This has dampened hopes for an imminent rate cut by the Fed, influencing market dynamics significantly. 2. Elevated US Treasury Yields: The strong jobs data has kept US Treasury bond yields high, as investors adjust their portfolios in anticipation of a delayed rate cut. 3. Strengthened USD: The USD's rally to a nearly one-month high further pressures gold prices, as a stronger dollar makes gold more expensive for holders of other currencies. Technical Analysis RSI Divergence on H4: Despite the bearish outlook, there is a noticeable divergence in the RSI indicator on the H4 timeframe, suggesting potential for a bullish reversal. This divergence occurs in a significant support area, indicating that a rebound may be on the horizon. Trading Strategy Given the current market conditions and technical indicators, our outlook is leaning towards a long position. Here are the key considerations: - Support Area: The presence of a strong support area and RSI divergence on the H4 chart suggest that the downside may be limited and a recovery could be imminent. - Risk Management: Traders should implement strict risk management strategies due to the overall bearish sentiment and strong USD. Setting stop-loss orders below the support level is advisable to mitigate potential losses.
OANDA:XAUUSDLong
by FOREXN1
1
Potential bullish rise?XAU/USD is reacting off a support level which is a pullback support and could rise from this level to our take profit. Entry: 2,285.63 Why we like it: There is a pullback support level. Stop loss: 2,263.13 Why we like it: There is an overlap support level which lines up with the 161.8% Fibonacci extension. Take profit: 2,320.23 Why we like it: There is a pullback resistance level which aligns with the 38.2% Fibonacci retracement. 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.
VANTAGE:XAUUSDLong
by VantageMarkets
XAUUSD 9/6/24Second markup of the week of course has to be gold, Are two major pairs looking quite similar this week with a 4 hour breakdown a four hour range that holds no low yet & of course a range created by the NFP. Our ideas for gold are the following price running down taking out the low we have marked for liquidity this ultimately delivering our four hour low of our range from that point we would expect price to pull back within the bearish range if it is going to continue to sell off! If we do not take out this low and we form the range of low without liquidating we will still be looking for the pullback to occur, The option that runs parallel to this is price creating the low breaking it shortly after and making a smaller range continuing down without a pullback. As always this is speculative and we are looking for price to deliver this range low before we begin to overpredict what price may or may not do. We are looking for price to sell off this week if it does not deliver and we shift bullish and we will be aligning with higher time frame narrative but as of now we are clearly bearish on this pair and we are expecting price to align with that as we come into our first sessions of the week. Very simple outlook look for 4 hour load to form wait for price to pull back and expect new cells to come into the market. Worst case scenario is the bias is completely incorrect and we see no trade given but as always we will read price action and trade what is being delivered to us. Wishing you all the best trading week use appropriate risk read price action always use a stop loss.
OANDA:XAUUSD
by PipSurfingSociety
Gold can rebound from resistance level and continue to fallHello traders, I want share with you my opinion about Gold. By observing the chart, we can see that the price rebounded up from the current resistance level to the 2400 level, which coincided with the seller zone and even rose higher, but when it reached the resistance line, the price turned around and started to fall. In a short time, the price declined to the resistance area, breaking 2400 and 2305 levels, and some time traded near the resistance area. Later, the price fell lower than the 2305 level again and entered to upward pennant, where it turned around of support line and made a strong impulse up to the resistance line, breaking the 2305 level one more time and also the resistance line with the 2400 level. Soon, the price turned around and in a short time declined from the resistance line of the pennant to the support line, breaking the 2400 level again. After this movement, Gold tried to rise and even reached the resistance line of the pennant, after which it made a strong impulse down, thereby exiting from this pattern and recently broke the 2305 level too. Now, the price trades inside the resistance area, and in my opinion, Gold can rebound from the resistance level and continue to decline, therefore I set my target at 2250 points. Please share this idea with your friends and click Boost 🚀
FOREXCOM:XAUUSDShort
by LegionQ8
GOLD - Price can turn around and start rise to resistance levelHi guys, this is my overview for XAUUSD, feel free to check it and write your feedback in comments👊 Some time ago price entered to rising channel, where it soon broke $2320 level, which coincided with support area. Then price continued to grow in channel and later reached $2390 level, which soon broke also and continued move up. Soon, price left channel and started to decline in pennant, where it broke $2390 level again and fell to support level. Some time price traded near this level and reached support line of pennant, after which bounced up to resistance line. But recently, Gold fell back and now trades very close to support line of pennant, so, I think price can little fall. After this, XAU can turn around and bounce up to $2390 resistance level, exiting from pennant. If this post is useful to you, you can support me with like/boost and advice in comments❤️
OANDA:XAUUSDLong
by WalterMoon
1
GOLD: Bullish Setup Anticipated Amid USD Weak and Low Treasury YGOLD: Bullish Setup Anticipated Amid USD Weak and Low Treasury Yields On Tuesday, gold dropped to the $2,315 area, nearing the multi-week low touched the previous day, influenced by a modest strengthening of the US Dollar (USD). Despite the USD's attempted recovery from its over two-month low, there was no significant follow-through, due to increasing expectations that the Federal Reserve (Fed) will cut interest rates later this year, bolstered by softer US macroeconomic data. These expectations have kept US Treasury bond yields depressed, which in turn has benefited the non-yielding yellow metal during the European session on Wednesday. Technical Analysis Overview For today's session, we are looking for a long setup for gold, particularly in light of the upcoming ISM Services PMI release in the US. From a technical perspective, several confluence factors support a bullish outlook: 1. Rebound from the 50% Fibonacci Level: The price has rebounded from the 50% Fibonacci retracement level, a significant support area indicating potential for upward movement. 2. Divergence on the H4 Chart: A divergence on the H4 chart suggests that selling pressure is weakening, further supporting the case for a bullish setup. These technical indicators align to suggest that gold is positioned for a potential upward move. Key Factors Influencing Gold 1. USD Strength and Fed Rate Cut Expectations: While the USD showed modest strength, it lacked sustained momentum due to growing expectations that the Fed will start cutting interest rates later this year. Softer US macro data has reinforced this outlook. 2. US Treasury Yields: Depressed US Treasury yields, influenced by expectations of Fed rate cuts, are benefiting gold. Lower yields decrease the opportunity cost of holding non-yielding assets like gold, making it more attractive. Market Strategy Given the current technical setup and fundamental backdrop, our strategy involves looking for a long position in gold. The rebound from the 50% Fibonacci level and the observed divergence on the H4 chart support this approach. Additionally, the anticipation of the ISM Services PMI release adds a potential catalyst for movement. Conclusion Gold has experienced some downward pressure but remains supported by underlying factors such as low US Treasury yields and expectations of future Fed rate cuts. The technical indicators, including the rebound from the 50% Fibonacci level and the divergence on the H4 chart, suggest a bullish setup is likely. As a result, the current market environment presents an opportunity to look for long positions in gold, particularly in anticipation of supportive economic data releases.
OANDA:XAUUSDLong
by FOREXN1
1
GOlD - Next target is 2450#XAU/USDT #Analysis Description --------------------------------------------------------------- + Gold has recently broken out from the channel, and the price appears to be heading towards the next resistance level. + Although I expect a minor retracement from this breakout, we can enter the trade at the current price. --------------------------------------------------------------- VectorAlgo Trade Details ------------------------------ Entry Price: 2352.096 Stop Loss: 2312.611 ------------------------------ Target 1: 2368.353 Target 2: 2390.667 Target 3: 2408.790 Target 4: 2445.448 ------------------------------ Timeframe:1H Capital Risk: 1-2% of trading amount --------------------------------------------------------------- Enhance, Trade, Grow --------------------------------------------------------------- Feel free to share your thoughts and insights. Don't forget to like and follow us for more trading ideas and discussions. Best Regards, VectorAlgo
OANDA:XAUUSDLong
by VectorAlgo
HelenP. I Gold can rebound down from top part of range to $2330Hi folks today I'm prepared for you Gold analytics. Some days ago price started to decline from the trend line and in a short time declined to the resistance level, after which broke this level and continued to fall. Later, Gold fell to the support level, which coincided with the support zone, and started to trades inside consolidation, where it at once started to grow. But soon, the price turned around and made a correction movement to the support zone, after which tried to grow but failed and fell back. Then XAUUSD repeated this movement and later rebounded up from the support zone to the trend line inside consolidation, and soon broke the trend line as well. After this movement, the price reached the top part of the range and started to decline, therefore I expect that GOLD will reach the trend line, then rebound up to the top part of the consolidation, after which starts to decline to the support level, breaking the trend line. That's why my goal is a 2330 support level. If you like my analytics you may support me with your like/comment ❤️
OANDA:XAUUSDShort
by FirstNameHelen
3
Potential bearish drop?XAU/USD is currently on a resistance level which is an overlap resistance that lines up with the 38.2% Fibonacci retracement and could reverse from this level to our take profit. Entry: 2,373.25 Why we like it: There is an overlap resistance level which lines up with the 38.2% Fibonacci retracement. Stop loss: 2,396.62 Why we like it: There is a pullback resistance level which lines up with the 61.8% Fibonacci retracement. Take profit: 2,315.82 Why we like it: There is a pullback support level. 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.
VANTAGE:XAUUSDShort
by VantageMarkets
XAUUSD - 1H Sell PossibiliityThe current XAUUSD chart shows that gold is approaching the final stages of its trading range cycle, indicating a potential bearish breakout. The chart reveals a series of lower highs and consistent tests of the support zone, suggesting weakening buying pressure. The resistance zone, highlighted in red, has successfully rejected price advances multiple times. We have observed signs of buyer weakness, which further supports the possibility of a downward move. If gold breaks below the support zone, it could lead to a significant decline, potentially reaching the next major support level around $2,305. Traders should monitor price action closely for confirmation of this bearish scenario.
FX:XAUUSDShort
by Sober_Trading
XAUUSD - Short Trade IdeaThis trade is based on Gold's price trading into a Daily SIBI Unicorn setup. Whilst it isn't premium of the range, there was a CHoCH to the downside on the 4h timeframe, disrespecting a 4h BISI. I am looking to get into a short when price returns to this BISI to be used as an IFVG. Target will be at the swing low, but leaving a runner would be ideal in an actual trade to target at least 2278, should the bias be correct in the first place. Stoploss near the 4h swing high for the current trade, but should be trailed to secure profits should the current objective be hit. #NFA - R2F
FOREXCOM:XAUUSDShort
by Road_2_Funded
1
XAU 7,777$ Its about TIME 1. **Economic Indicators:** - **Inflation:** Gold is often seen as a hedge against inflation. Rising inflation typically boosts gold prices. - **Interest Rates:** Higher interest rates increase the opportunity cost of holding gold, which doesn't yield interest. Conversely, lower rates tend to support gold prices. - **US Dollar Strength:** Gold prices are inversely related to the strength of the US Dollar. A weaker dollar makes gold cheaper for holders of other currencies, potentially increasing demand. 2. **Geopolitical Events:** - **Political Uncertainty:** During times of political instability or geopolitical tensions, investors often flock to gold as a safe-haven asset. - **Global Crises:** Events such as pandemics, wars, or significant political upheavals can drive up gold prices due to increased uncertainty. 3. **Market Sentiment:** - **Investor Demand:** The sentiment of large institutional investors and retail investors can significantly impact gold prices. - **Market Trends:** Technical analysis and trend-following strategies can provide insights into potential future movements based on historical price patterns. 4. **Supply and Demand Dynamics:** - **Mining Production:** Changes in gold mining production can affect the supply side of the equation. - **Jewelry and Industrial Demand:** Demand from sectors like jewelry and technology can influence gold prices. 5. **Central Bank Policies:** - **Gold Reserves:** Central banks' decisions to buy or sell gold can have substantial effects on the market. ### Current Trends and Forecasts (as of mid-2024) 1. **Inflation and Monetary Policy:** - If inflation remains elevated, and central banks adopt a dovish stance, gold prices could see upward pressure. - Conversely, if inflation is controlled and interest rates rise significantly, gold prices might face headwinds. 2. **Global Economic Stability:** - Continued global economic uncertainty, whether due to geopolitical tensions, trade issues, or lingering effects of past crises (like COVID-19), could support gold prices. - A robust global economic recovery might reduce the safe-haven appeal of gold, putting downward pressure on prices. 3. **Technical Indicators:** - As of recent technical analysis, key support and resistance levels should be monitored. If gold breaks through significant resistance levels, it could indicate further upward potential. - Conversely, a breach of key support levels might suggest a potential decline. ### Conclusion Gold's future potential (XAU/USD) is shaped by a complex interplay of economic, geopolitical, and market factors. Keeping an eye on these indicators and understanding the broader context can help in making informed predictions about its future trajectory. For precise forecasts and investment decisions, consulting with financial experts and staying updated with the latest market analyses is recommended.
OANDA:XAUUSDLong
by TrojanBible
XAUUSD (gold), growth started. But bulls not strong now.Hi friend. I start my intraday trading from this idea. Now we see small bullish impuls from support 2320 and our trading day started from this. Market process that cause growth - its bears distribution over. Trading rules of my strategy ( its my own trading you can use it for your risk only ): 1) Every update will start with tendention vector i will mark for you - bullish trend or bears. 2) We will follow and try to catch exactly this trend. 3) Every update i mark entry price (if you was busy e.t.c and seen my idea some time after its update: a) if update tendention was bullish and price = entry price or lower you can entry; b) if tendention was bearish and price you catch was like entry price or higher - you can entry; c) another situation you waiting next update (if dont have any open position). And ofcourse if ill be busy e.t.c i will close trading and update: trading closed. Also remember that GOLD market like another exchange types its a real time process with many "x" and "y" situations. Market situation is constantly changing. And an idea is relevant for some certain period until situation changes.
OANDA:XAUUSD
by JinFlark
1
XAUUSD H4 - Long SignalXAUUSD H4 Here is the outlook for XAUUSD as it stands, we are firm believers in trading what you see. We can see the DXY took a slight bounce from that 104.000 mark and therefore the DXY is still in bullish demand. That being said, $2330/oz has been our previous area of support for a while now, and we hold our ground until it breaks. Upon a potential break, we can simply change our bias and start trading in line with the new breakout trend (should it sustain). A simple motto we go by, trade what you see and don't fix it unless it's broken. This is the staple of a zone trading strategy. Learn to love your losses when they can occur, because these losses often lead the a monster of a reversal trade.
FX:XAUUSDLong
by Trade_Simple_FX