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Gold Hits 3-Week Low: Recovery or Further Decline?Gold prices dropped over 3% to a 3-week low on Wednesday (Nov 6) as the USD strengthened following Donald Trump’s victory. Gold has reached a critical support level around 2,642.534 USD/oz, acting as a key "stop point." If strong buying interest emerges here, gold may see a short-term recovery. However, if this support level doesn’t hold, the next downside target could be 2,588.110 USD/oz, where additional buying pressure is expected. The 34 and 89 EMA lines are currently above the price, indicating that the downtrend still dominates. To confirm a recovery, the price needs to climb back above lost resistance levels. Conversely, if selling pressure persists and the price stays below the EMAs, the downward trend is likely to intensify. Investors should closely monitor price reactions at these support and resistance levels, especially as global political and economic factors could lead to strong market volatility.
OANDA:XAUUSDShort
by Zola_Hello
GOLD to find buyers at current overbought extremes?XAUUSD - 24h expiry Price action resulted in a new all-time high at 2753. Daily signals for sentiment are at overbought extremes. Intraday dips continue to attract buyers and there is no clear indication that this sequence for trading is coming to an end. 20 1hour EMA is at 2743. There is no indication that the rally is coming to an end. We look to Buy at 2744.5 (stop at 2726.5) Our profit targets will be 2789.5 and 2799.5 Resistance: 2753.4 / 2770.0 / 2785.0 Support: 2745.0 / 2725.0 / 2700.0 Risk Disclaimer The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit. You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
OANDA:XAUUSDLong
by OANDA
2
XAUUSDXAUUSD The trend is still in a strong uptrend. From the very high price, we expect that in the short term, the price may have a correction at 2757-2761. If the price cannot break through 2761, it is expected that the price will go down. Consider selling the red zone. 🔥Trading futures, forex, CFDs and stocks carries a risk of loss. Please consider carefully whether such trading is suitable for you. >>GooD Luck 😊 ❤️ Like and subscribe to never miss a new idea!
OANDA:XAUUSDShort
by Serana2324
4
Gold reached all-time high and hit weekly targetHello traders, As you can see gold reached all time high time record.And reached the weekly target as anticipated, so the analysis went to our favor and gave us a Great trade. After gold broke the fourr hour level, it Made a break and a retest and made a rebound on the one hour time frame at exactly 2673 The bullish momentum took place againand buyers.Took control of the market and pushed gold higher and higher until reached the weekly target. After this long run making a tree leg extension as you can see on the chart, there is a high probability that the market will reverse.And we might see a huge sell off of gold in order to breathe until.Buyers and bullish momentum comes back again and takes the gold market higher again because this is very normal. After a long run being bulish or bearish.There should always be a big.Correction. Remember.After every long run there is a steep pullback and that's what we gonna see in the coming days. So guys.Be prepared for selling gold, but not this week, probably next week or the following week.
OANDA:XAUUSDLong
by YMtradingsystem
HelenP. I Gold will exit from wedge and continue to move upHi folks today I'm prepared for you Gold analytics. In the chart, we can see how the price, some days ago, broke support 1, which coincided with the support zone and dropped to support 2. Also, XAU made two gaps, when it declined, after which it turned around from one more support zone and rose back to support 1. Then price turned around and slowly declined to the support zone (2628 - 2622), and when it reached this area, Gold broke support 2 and fell to the trend line. Later, the price turned around and started to grow near the trend line inside the wedge pattern. In this pattern, the price broke support 2 one more time, made a retest, and rose almost to support 1, making a third gap. After this, XAU made a correction to the trend line and then made an impulse up to the resistance line of the wedge, breaking support 1. At the moment, the price trades near this line, for this case, I expect that XAUUSD will drop to the support zone and then bounce up, exiting from the wedge. Then it can continue to grow as well, that's why I set my goal at 2700 points. If you like my analytics you may support me with your like/comment ❤️
OANDA:XAUUSDLong
by FirstNameHelen
2
GBP/USD Faces Continued Bearish PressureThe GBP/USD pair continues to experience downward pressure, primarily due to the resilience of the US Dollar. After breaking the key psychological level of 1.3100 following the release of stronger-than-expected US Nonfarm Payrolls (NFP) data, GBP/USD remains in a corrective phase. The NFP report showed a job growth of 254K in September, significantly surpassing the 140K forecast. Additionally, the Unemployment Rate dropped to 4.1%, further strengthening the US labor market outlook and reducing the likelihood of aggressive rate cuts by the Federal Reserve (Fed). As a result, the US Dollar has extended its gains, limiting any upward momentum for GBP/USD. Fundamentally, the Pound remains under pressure due to the dovish rhetoric from Bank of England (BoE) officials. Early Thursday, Governor Andrew Bailey's comments triggered a selloff in the Pound as the market interpreted his remarks as signaling imminent monetary easing. Although BoE Chief Economist Huw Pill struck a more cautious tone, stating that policymakers must avoid cutting rates "too far or too fast," this has done little to offset the bearish sentiment. In conclusion, the combination of a stronger US Dollar, resilient US labor market data, and the dovish BoE rhetoric creates a challenging environment for GBP/USD. Unless the pair can break through key resistance levels, the path of least resistance remains to the downside, with potential targets at 1.3050 and 1.3000 in the short term.
Long
by Forex48_TradingAcademy
1
XAUUSD - 4H Higher targetsFX:XAUUSD prices are currently in a strong upward trend, having broken past the $2,600 resistance level. Based on the technical analysis, this surge opens up a path toward the $2,650 target, supported by the recent bullish movement. The chart clearly indicates that a pullback to the $2,600 zone would present a solid buying opportunity. Traders are encouraged to stay calm during any temporary declines and consider adding to their positions in anticipation of further gains. Fundamentally, escalating geopolitical tensions in the Middle East, particularly the ongoing Israel-Hamas conflict, have significantly boosted gold prices as investors seek safe-haven assets. Gold’s role as a hedge against global uncertainty has become even more pronounced with concerns of the conflict escalating across the region, leading to increased demand. Additionally, broader fears of economic instability, inflation, and potential recessionary pressures have further driven this bullish sentiment in gold markets. As both technical and fundamental factors align, CAPITALCOM:GOLD is well-positioned to reach the $2,650 target. Traders should remain vigilant for any price dips, as these may offer prime opportunities for further entry into the market.
FX:XAUUSDLong
by Sober_Trading
1
Gold prices trade near historic highsGold prices hovered near the all-time high reached earlier this week amid a weaker USD and expectations of further Fed rate cuts. Moreover, concerns about economic slowdown in the US and China further supported the safe-haven asset XAU/USD. On the technical chart, XAU/USD is on track to retest recent highs and even extend gains, despite the positive market sentiment, as investors shed the USD. In addition, technical indicators have extended their advances into positive levels, albeit with limited upside strength as the XAU/USD pair develops below its recent highs. Given the current situation, do you expect a long-term bullish wave?
OANDA:XAUUSDLong
by BB_TradingFX
GBPUSD: After the FED, Awaiting the BOE and BOJ!The GBP/USD pair found support near the 1.3150 area on Thursday, temporarily halting the correction from the recent high of 1.3300, the highest level since March 2022. The 4-hour RSI remains close to 70, suggesting that the pair could enter overbought territory in the short term if it continues to rise. The bullish sentiment for GBP/USD has been supported by expectations of an aggressive rate cut from the Fed, which has weakened the US Dollar. This week, markets are awaiting the rate decisions from the Bank of England (BoE) and the Bank of Japan (BOJ). In the short term, GBP/USD could consolidate above 1.3200 before potentially resuming its rise toward 1.3260 and 1.3300. On the downside, a break below 1.3150 would open the door for a drop towards 1.3100, especially if US economic data supports a rebound in the dollar.
Short
by Forex48_TradingAcademy
3
XAUUSDXAUUSD after the price can break through the level of 2531 and make a new high at the level of 2566 in the price range of 2566-2570 if the price cannot break through the level of 2570, it is expected that in the short term there is a chance that the price will go down. Consider selling the red zone. 🔺Stop loss: 2576 🔥Trading futures, forex, CFDs and stocks carries a risk of loss. Please consider carefully whether such trading is suitable for you. >>GooD Luck 😊 ❤️ Like and subscribe to never miss a new idea!
FX:XAUUSDShort
by Serana2324
GOLDFrom our previous analysis on Friday, we saw that the price had adjusted down to test the support zone at $2,485 as expected, but the price failed to break through $2,485, resulting in a rebound. And this time, if the price fails to break through $2,510, we expect that there is a chance that the price will continue to fall. 🔥Trading futures, forex, CFDs and stocks carries a risk of loss. Please consider carefully whether such trading is suitable for you. >>GooD Luck 😊 ❤️ Like and subscribe to never miss a new idea!
EIGHTCAP:XAUUSDShort
by Serana2324
3
HelenP. I Gold will break support level and continue to fallHi folks today I'm prepared for you Gold analytics. If we look at the chart we can see how the price some days ago declined to support 2, which coincided with the support zone and at once made impulse up to support 1. After this, the price turned around and in a short time declined to support zone, where it some time traded and then tried to grow, but failed and dropped lower than support 2, breaking it. Gold reached the trend line, after which started to move up and quickly rose to 2477 points, thereby breaking support 2 one more time, but soon fell back to the trend line. Next, the price turned around and started to grow to support 1, which coincided with resistance zone and when it reached this level it broke it and even rose a little higher than the resistance zone. Soon, XAU made the correction, after which continued to trades near the resistance zone and recently fell to this area, where at the moment continues to trades near support 1. In my mind, XAUUSD will make a small movement up and then break the support level. After this, the price can continue to decline, therefore I set my goal at 2450 points. If you like my analytics you may support me with your like/comment ❤️
OANDA:XAUUSDShort
by FirstNameHelen
3