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GC1! (Gold Futures)

GOLD → MA-200 False Breakdown. Will the growth continue?FX:XAUUSD is testing the support of 2625 forming a false break of SMA-200 as part of the correction. The range boundaries are confirmed and the market, after retesting the support, changes its target... Globally and locally the trend is bullish, this is facilitated by the situation in the Middle East, which is becoming more complicated every day.... In addition, US dollar buyers took a breather before the news, and US Treasury yields reversed the previous rise amid deteriorating risk sentiment, which limited the decline in the gold price. Traders await PMI from ISM, and JOLTS survey data, which could signal a further cooling of the US labor market Yesterday Powell said: - Fed in no rush to cut rates quickly, will be data-driven. If the economy is as expected, two more 0.25% cuts are possible. Accordingly, the course of interest rate cut st Support levels: 2643, 2634, 2624 Resistance levels: 2659, 2673, 2685 Gold still enjoys huge interest. Buyers are defending key support zones. A change of sentiment is forming and I would expect a continuation of the rise from the key support zones towards the zones of interest at the moment. The news may increase volatility and form a shakeout.... Rate, share your opinion and questions, let's discuss what's going on with ★ FX:XAUUSD ;) Regards R. Linda!
FX:XAUUSDLong
by RLinda
4
Pay attention to Powell's statement, GOLD corrects and recoversOANDA:XAUUSD There were 2 consecutive sessions of price decline at the end of last month, mainly due to profit-taking activities without affecting the uptrend both fundamentally and technically. From a monthly perspective, gold prices rose more than 6% in September, reaching a peak of $2,685.42 last Thursday, mainly due to the Federal Reserve's 50 basis point cut, stimulus measures China's preferences and escalating tensions in the Middle East. Today (Tuesday), Federal Reserve Chairman Powell will give a speech at the National Association of Business Economics, which is expected to cause violent fluctuations in gold prices. Gold traders will pay close attention to Powell's comments for further information on the future direction of the Fed's monetary policy. • If Powell signals a stronger interest rate cut, gold prices will certainly have to be pushed higher, because lower interest rates often reduce the opportunity cost of holding non-interest-bearing assets like gold, making them more attractive to investors. • However, if Powell is cautious and signals a slower pace of interest rate cuts, gold may face downward pressure. According to CME Group's FedWatch tool, the market is currently pricing in a 36.7% chance that the Fed will cut interest rates by 50 basis points in November. In addition, the geopolitical situation in the Middle East has escalated, which has supported gold prices. Over the weekend, Israel continued to attack Lebanon and claimed to have killed a senior figure of Hezbollah following the murder of the organization's leader Hassan Nasrallah. Iran, which backs the powerful rebel group, vowed to fight back and noted that Nasrallah's killing "will not go unanswered". Analysis of technical prospects for OANDA:XAUUSD On the daily chart, after gold's downside correction, it recovered from the 0.618% Fibonacci extension and the current corrections still do not affect the main technical trend. The short-term uptrend is noticeable because the price channel remains stable, and as long as gold remains in the price channel, its short-term trend and outlook are still bullish. In addition, if gold breaks above the 2,645 USD price point of the 0.786% Fibonacci extension, it will have room to increase further with the goal of returning to the 2,672 USD area. This means that $2,645 is the closest resistance currently. During the day, the technical bullish outlook remains unchanged and notable levels are listed again as follows. Support: 2,624 – 2,610 – 2,600USD Resistance: 2,645 – 2,650USD SELL XAUUSD PRICE 2676 - 2674⚡️ ↠↠ Stoploss 2780 →Take Profit 1 2669 ↨ →Take Profit 2 2664 BUY XAUUSD PRICE 2594 - 2596⚡️ ↠↠ Stoploss 2590 →Take Profit 1 2601 ↨ →Take Profit 2 2606
OANDA:XAUUSD
by Xayah_trading
Jobs data week, GOLD corrects with steady trendOANDA:XAUUSD rebounded slightly this past weekend on Friday (September 27) as traders received the latest US data, but gold also hit a new all-time record this past week due to Expectations that the Federal Reserve will cut interest rates further. Although the latest US consumer spending and inflation data reinforced expectations that the US central bank will cut interest rates further in the coming months, it also failed to provide clarity on the question. How deep will the Fed cut? The US core personal consumption expenditures (PCE) price index showed inflation rose just 0.1% in August, below market expectations. This data increases market confidence that the Federal Reserve will continue to implement easy monetary policy. However, the data gap compared to the same period is not really large, this makes the market begin to divide into two directions; How much will the Fed cut interest rates in the upcoming FOMC period, 50bps or 25bps. As a non-interest-bearing asset, gold becomes more attractive in an interest rate cutting or low interest rate environment, which has pushed gold prices up about 14% this quarter, the best quarter since 2016. The latest consumer spending and inflation data from the US were the main economic indicators influencing the gold market last week. Inflationary pressures have eased, signs of growth in consumer spending suggest the Federal Reserve may cut interest rates further for the rest of the year. Currently, the market is expecting the Fed to cut another 75 basis points over the remainder of the year. This expectation has become the main driving force to help gold prices continue to increase this week, and looking into the future, this is still important support for gold's fundamental uptrend in the near future. At the same time, global geopolitical tensions have added to market uncertainty. Uncertainties about the Middle East situation and the US presidential election have increased market demand for safe havens, further supporting gold prices. This week will be a trading week with a lot of important macro data from the United States, the focus will be on non-farm employment data (NFP). It is expected that gold will have another turbulent trading week. market government. Economic data to watch out for this week Monday: Federal Reserve Chairman Jerome Powell speaks at the NABE meeting Tuesday: European CPI, ISM Manufacturing PMI, JOLTS Employment Wednesday: ADP jobs report Thursday: Weekly unemployment claims, ISM services PMI Friday: Nonfarm payroll report Analysis of technical prospects for OANDA:XAUUSD On the daily chart, after gold corrected from $2,672 as target resistance, it recovered from the 0.786% Fibonacci extension support point noted by readers in the previous issue. Although gold has corrected, structure and bullish conditions are still dominating the daily technical chart, with a short-term trend from the price channel and key support from the EMA21 and trend from the price channel. However, the Relative Strength Index is falling from the top of the overbought zone, if it falls below the 80 level this could be seen as a signal for bearish space ahead. With gold having increased for many days, it is very normal for a technical correction to occur. As long as gold remains in the price channel and above the EMA21, the trend and outlook are still bullish. In case gold is sold below 2,645 USD it will tend to decrease further to retest the 0.618% Fibonacci level without affecting the main uptrend. Looking ahead, the trend and prospect of gold is technically bullish and the notable points will be listed as follows. Support: 2,645USD Resistance: 2,672 – 2,685USD SELL XAUUSD PRICE 2696 - 2694⚡️ ↠↠ Stoploss 2700 →Take Profit 1 2689 ↨ →Take Profit 2 2684 BUY XAUUSD PRICE 2624 - 2626⚡️ ↠↠ Stoploss 2620 →Take Profit 1 2631 ↨ →Take Profit 2 2636
OANDA:XAUUSDLong
by Xayah_trading
1
XAUUSD Top of Channel Up. Small correction possible.Gold (XAUUSD) has reached the top (Higher Highs trend-line) of the 2-month Channel Up. The trend also shows a top on the Sine Waves sequence and the 1D MACD a potential Bearish Cross. This has been the most consistent sell signal in the past 4 months. As a result, we turn bearish on Gold short-term, targeting a new Higher Low at the bottom of the Channel Up, a little over the 0.382 Fibonacci retracement level as the September 03 Low. Our Target is 2615. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
FX_IDC:XAUUSDShort
by TradingShot
USD & Gold Market Review September 30, 2024Analyze Macroeconomic News with USD Chart The situation is that the Market is quite uncomfortable because it has been 2 weeks, but the USD still has no clear direction for itself. Looking at the event chart above, you can see that the negative psychological price mark is 101.5 - FOMC – interest rate cut by 50 points. - Manufacturing PMI conflicts, but can still be assessed as bad. - Shigeru Ishiba puts pressure on the USD, as JPY may get stronger. - PCE is a bad personal inflation index. ==> A lot of big bad news below the 101.5 mark but the USD still moves sideways up and down, not moving strongly to the number 9x.xxx ==> Although the USD has lowered its closing price WEEKLY, it still causes discomfort because of bad news, such a decrease is not right. Is there a time when USD will suddenly turn over??? What's on this week??? - In early October, at dawn on October 1, 24, Powell spoke - Friday has employment and NONFARM data SPDR Gold Trust Analysis Daily chart of Gold prices and Gold Reserves - SPDR reduced reserves by 5.18 tons last Friday. However, just a 1-day reduction doesn't give much information, so that's all we know for now. - The LONG SHORT index of retail traders shows that traders are afraid of SELLing and have the psychology of changing to BUY, so the Market's ability to Kill Sellers is reduced, meaning it is limited in pushing prices up further. GLD (SPDR Gold Trust) stock chart vs. Gold price The GLD chart is a stock active in the US session, it coincides with the gold price chart when the US stock session opens. Looking at price behavior with volume on the GLD chart, we see that most of it is bearish behavior, like profit taking at the peak. => So in my opinion, the 246 price mark of GLD corresponds to the 2660-65 price range of the gold price, which is a psychological pivot for GLD (SPDR Gold Trust stock). Analyze the Gold Future Market Volume chart Price areas with converging Volume on the H4 chart include: 2660, 2625, 2580. Prices are often easily attracted and rotate around these price axes. Currently on Chart H4 and H1, it can be seen that Gold has a bearish channel and is below the 2660 mark at the end of last week. Conclude Pay attention to the BULL BEAR 2660 position pivot price range BULL faction - The BULL side should only join the fight when the price has increased past 2660, and there is action to create price support above 2660. - Or the price drops completely to 2625 to consider further recovery behavior of BULL. BEAR faction - Because the trend is still up, Sellers also need to be careful because there is not much Bear support. - Currently, there is a downward price channel below the 2660 mark, so Sellers should embrace this current price channel to enter orders and minimize risks.
OANDA:XAUUSD
by Xayah_trading
GOLD MARKET ANALYSIS AND COMMENTARY - [Sep 30 - Oct 04]Last week, OANDA:XAUUSD continued to rise to a new peak at 2,685 USD/oz. However, after that, profit-taking pressure caused the international gold price to drop to 2,643 USD/oz and close the week at 2,658 USD/oz. Gold prices continued to increase strongly this week mainly due to the FED cutting interest rates by 50 percentage points in last week's meeting. Notably, the US Personal Consumption Expenditure (PCE) Index for August announced this week only increased by 2.2% over the same period last year, down from 2.5% in July. and is the lowest level since February 2021. PCE in August was close to the FED's target of 2%. This further strengthens expectations that the FED will continue to sharply cut interest rates in the near future. In the current context, the FED's biggest concern is to revive the labor market, which has been stagnant in recent times. Next week, the US will announce non-agricultural employment (NFP) data and the unemployment rate for August. According to forecasts, NFP in August will only reach about 144,000 jobs and the unemployment rate may remain at low levels. 4.2%. If these data are as predicted, it will also increase expectations that the FED will continue to cut interest rates in the coming period, thereby positively affecting gold prices next week. 📌However, the problem that many investors and experts are concerned about right now is that the gold price is deep in the overbought zone, clearly shown through the MACD, RSI... Therefore, the possibility of pressure cannot be ruled out. Profit taking will increase again, causing gold prices to suffer another correction next week at the current high price range. Notable technical levels are listed below. Support: 2.645 – 2.624USD Resistance: 2.685 – 2.672USD SELL XAUUSD PRICE 2701 - 2699⚡️ ↠↠ Stoploss 2705 BUY XAUUSD PRICE 2599 - 2601⚡️ ↠↠ Stoploss 2595
OANDA:XAUUSDLong
by Xayah_trading
GOLD fell as investors took profitsOANDA:XAUUSD fell in the trading session on Friday (September 27) due to pressure from profit-taking activities, but are on track to complete the strongest quarter increase in 8 years thanks to the prospect of lower interest rates globally, especially is the monetary policy pivot in the US. World gold prices have continuously set records in the first 4 trading sessions of this week. In particular, the all-time peak of spot gold price is 2,685.42 USD/oz recorded on Thursday session. In the third quarter, gold prices increased by 14%, the strongest increase in a quarter since the first quarter of 2016. This year, gold prices have increased 29%, the strongest increase in a year in the past 14 years. In the last session of the week, investors received positive data on inflation, data points that could provide additional reasons for the US Federal Reserve (Fed) to continue cutting interest rates. A report from the US Department of Commerce only showed that the personal consumption expenditures price index (PCE) - the Fed's favorite inflation measure - increased by 0.1% in August, consistent with economists' forecasts. out in a survey by Dow Jones news agency. Compared to the same period last year, PCE increased by 2.2%, lower than the forecast of 2.3%. After the report was published, the market slightly increased bets on the possibility of the Fed continuing to sharply reduce interest rates at its November meeting. According to data from the FedWatch Tool of the CME trading floor, traders are Betting on the possibility of more than 54% of the Fed choosing a 0.5 percentage point interest rate cut in the next meeting, and nearly 46% betting on a 0.25 percentage point reduction. However, gold prices still had a falling session as many investors realized profits at record prices.
OANDA:XAUUSD
by Xayah_trading
2
GOLD --- When Breakout? $2700 Target remains in place. The war against sound money... keeping a "lid" on the price of the worlds biggest asset and truly the only real collateral in the world. Is being slowly lost. We have a continuation head and shoulders that many people are watching. But something to note Is that the previous times #Gold has traded above 2 thousand dollars The smackdown has been quick and violent. If you noice in the past few weeks, the compression of price , and the consecutive number of weekly closes above 2k. Is the most it has ever been. Are the Bankers ready to let it run... since they seem to be pumping up all assets prices for the 2024 election. I think the ramp up to 2.7k could be quite violent... do we get there by summer?
COMEX:GC1!Long
by BallaJi
GOLD → The safe asset continues to be bullrun ↑FX:XAUUSD does not react properly to the growth of the dollar. The metal continues to renew highs and seeks upward. There is no resistance ahead and the geopolitical backdrop is blowing a favorable wind.... Gold is holding near an all-time high as buyers refuse to give up amid recent Fed comments, China's stimulus (China's Central Bank today announced an unprecedented blitz of support for the economy) and escalating geopolitical tensions in the Middle East. China is the world's top consumer of the yellow metal The gold price tends to benefit from geopolitical tensions due to its traditional safe-haven status. Also, the Fed will continue to hint at another 0.5% rate cut Resistance levels: 2634, 2640 Support levels: 2623, 2614, 2602 The general background hints at an active continuation of the growth. If gold will consolidate above the maximum of the previous day, then in the mid (short) term we should consider the continuation of growth to 2650-2660-2675. It is not excluded that there may be a correction before further growth due to the approaching important news... Rate, share your opinion and questions, let's discuss what's going on with ★ FX:XAUUSD ;) Regards R. Linda!
FX:XAUUSDLong
by RLinda
21
GOLD steadies as Powell and Fed shake up trading day todayOANDA:XAUUSD is still trading quite stable in the early Asian session today (September 26) with both fundamental and technical uptrends being maintained. Currently, the gold price is around 2,660 USD/oz. This trading day, gold traders will focus on Federal Reserve Chairman Powell's speech, which is expected to cause major fluctuations in gold prices. Traders await Federal Reserve Chairman Jerome Powell's speech and US PCE inflation data for more details on the direction of interest rate policy. Today (Thursday), Federal Reserve Chairman Powell will pre-record a video to deliver the opening address of the New York Fed's 2024 Treasury Markets Meeting. Last Wednesday local time, the Federal Reserve announced a 50 basis point interest rate cut. Federal Reserve Chairman Powell said in a press conference that the 50 basis point rate cut “is not a new pace of rate cuts.” In addition to Powell, several key Fed officials spoke today (Thursday). Today (Thursday), Fed Governor Bowman will give a speech on the economic outlook and monetary policy today (Thursday), New York Fed President Williams will give a speech; Fed Governor Barr will also speak at the same time. In terms of US economic data, on Friday the US Bureau of Economic Analysis will release the August personal consumption expenditures (PCE) price index, which is the Federal Reserve's preferred measure of inflation. state. So this data needs to be closely watched and it is expected to bring significant volatility in the financial markets as a whole. Analysis of technical prospects for OANDA:XAUUSD On the daily chart, gold's upward momentum is temporarily limited by the $2,672 level, the resistance point noted by readers in previous publications. However, the trend and technical structure remain unchanged, still leaning completely towards the uptrend with the price channel as the short-term trend and EMA21 as the most important support. However, the price increase is slowing down combined with the Relative Strength Index (RSI) being at the peak of the overbought area, showing that there is not much room for price increases and is consistent with the expectation of a downward adjustment without change the trend. In the immediate future, gold may adjust down to 2,645 USD, the price point of the 0.786% Fibonacci extension or more than the 0.618% Fibonacci level. It must be noted that a correction is different from a long-term trend, because the main trend of gold prices is bullish so open positions taking advantage of the possibility of a correction should also be closed in the short term. During the day, the uptrend with the expectation of a correction in gold prices will be noticed by the following levels. Support: 2,645 – 2,624USD Resistance: 2,672USD SELL XAUUSD PRICE 2691 - 2689⚡️ ↠↠ Stoploss 2694 →Take Profit 1 2684 ↨ →Take Profit 2 2679 BUY XAUUSD PRICE 2607 - 2609⚡️ ↠↠ Stoploss 2603 →Take Profit 1 2614 ↨ →Take Profit 2 2619
OANDA:XAUUSDLong
by Xayah_trading
XAUUSD: Should turn sideways for the rest of the year.Gold is highly overbought on its 1D technical outlook (RSI = 75.774, MACD = 45.540, ADX = 41.502) while at the same time it is approaching the top of the one year Channel Up. The two bullish waves of the pattern reached their HH after +22.50% and +18.50% rises and then turned sideways into a consolidation Rectangle. So even though the price can extend some more to reach a +22.50% rise, we are close to the +18.50% one and as mentioned the top of the Channel Up. This tells us that this isn't the time to buy at all but rather wait for the price to cross under the 1D MA50, which was the buy signal in the two consolidation Rectangles. ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
FX_IDC:XAUUSD
by InvestingScope
Data and the risk of widespread conflict, GOLD finds new peaksAs tensions in the Middle East and US consumer confidence worsen, increasing gold's safe-haven appeal OANDA:XAUUSD , along with falling US Treasury bond yields and a weakening US Dollar, gold prices have once again renewed their all-time record high. In terms of data The Conference Board reported Tuesday that U.S. consumers' views of the economy worsened in September as concerns about jobs and business conditions grew, with the index Consumer confidence recorded its largest drop in more than three years. The Conference Board reported that the US consumer confidence index fell sharply to 98.7 in September from 105.6 in August, the largest monthly decline since August 2021. Survey of Dow Jones had forecast the number to be 104. Iran's President warned Israel to conduct heavy air strikes Israel announced that it launched a large-scale airstrike against "Hezbollah targets in Lebanon" on September 23, hitting more than 1,600 targets. Israel continued to conduct new air strikes in many places in Lebanon on September 24. According to Britain's Reuters, on September 23 local time, Iranian President Pezhiziyan said in New York, USA that Israel hopes to draw the Middle East into the conflict between Israel and Lebanon's Hezbollah that has lasted nearly a year. past, by provoking Iran into "total war" and warning that its consequences would be "irreversible". Asked whether Iran would retaliate after Hamas Politburo leader Haniyeh was killed in an attack in the Iranian capital Tehran in late July, Pezeshizyan said: "They will respond in the appropriate way." at the appropriate time and place." As fighting between the Lebanese militant group Hezbollah and the Israeli military escalated sharply, Hezbollah has urged Iran to launch attacks on Israel in recent days. A direct Iranian attack on Israel would significantly further destabilize the region and could draw the United States into war. The US Federal Reserve's beginning to loosen monetary policy also pushed up gold prices because gold does not generate interest and lowering interest rates can reduce the opportunity cost of holding gold. Major investment banks expect gold's record price increase to continue through 2025 due to large capital inflows into gold ETFs and expectations of further interest rate cuts from central banks the world's largest. The basic picture has not changed as gold is still a comprehensively supported choice, both in terms of macro data, monetary policy and geopolitical developments that are increasingly new and complex. more complicated with the risk of spreading. Analysis of technical prospects for OANDA:XAUUSD On the daily chart, gold is having its fifth consecutive day of price increases, the next target level will be the $2,672 mark as the $2,645 price point of the 0.786% Fibonacci extension was quickly broken during the trading day. Yesterday. It is difficult to trade at the present time even though the main trend is still bullish with the price channel as the short-term trend. However, the Relative Strength Index has peaked in the overbought area, suggesting that there may not be much room left for the price to rise. In principle, the market will not move in a straight line, so during this time there is a basis to expect a short-term correction without changing the trend. The correction will likely be limited by support points from the 0.786% Fibonacci in the short term, and more so the 0.618% level. However, it must be reiterated that all technical and fundamental conditions are pointing in the same direction of price increase, and the uptrend with the expectation of short-term adjustment and of gold prices will be noticed by high levels. following technique. Support: 2,645 – 2,624USD Resistance: 2,672USD SELL XAUUSD PRICE 2691 - 2689⚡️ ↠↠ Stoploss 2694 →Take Profit 1 2684 ↨ →Take Profit 2 2679 BUY XAUUSD PRICE 2607 - 2609⚡️ ↠↠ Stoploss 2603 →Take Profit 1 2614 ↨ →Take Profit 2 2619
OANDA:XAUUSDLong
by Xayah_trading
GOLD is still looking for new peaks, PCE is the focus this weekAt the end of the last trading week, OANDA:XAUUSD increased above 2,620 USD/oz, continuing the existing upward momentum due to expectations that the US will continue to cut interest rates and increasing tensions in the Middle East. On Wednesday (September 18) local time, the US Federal Open Market Committee (FOMC) announced a 50 basis point interest rate cut after concluding a two-day policy meeting in Washington. , lowering the federal funds rate target range to 4.75%-5%. This is the first time the Federal Reserve has cut interest rates since March 2020. Fed officials expect interest rates to fall to 4.4% by the end of 2024 and to 3.4% in 2025. In a statement, policymakers said they would consider “adjustments “addition” to interest rates based on “upcoming economic data.” They also noted that inflation "remains high" and that job growth has slowed. Federal Reserve Chairman Powell said in his post-FOMC press conference that the 50 basis point rate cut “is not a new pace of rate cuts.” Next week, several Fed officials will speak and it is expected that these statements will have a short-term market impact. • Next Monday, Bostic, the FOMC 2024 voting committee and Atlanta Fed President, will speak on the economic outlook. • Next Tuesday, FOMC 2026 voting committee member and Minneapolis Fed President Kashkari will give a speech. • Next Thursday, Boston Fed President Collins will host a virtual meeting on central bank supervision and financial inclusion, and Fed Governor Coogler will attend. • Next Thursday, Federal Reserve Chairman Powell will broadcast a video to open an event. • Next Thursday, the FOMC permanent voting committee and New York Fed President Williams will speak. Federal Reserve Governor Barr will speak next Thursday. • Next Friday, FOMC 2026 voting committee and Minneapolis Fed President Kashkari will have a conversation with Federal Reserve Governor Barr Next Friday, FOMC 2025 voting committee, Boston Fed President Collins and Fed Governor Coogler spoke. Next week's data focus will be on August's personal consumption expenditures (PCE) price index, the Fed's preferred measure of inflation. Next Friday, the US Bureau of Economic Analysis will release the personal consumption expenditures (PCE) price index for August, the Fed's preferred measure of inflation. If the core PCE price index rises 0.3% month-on-month or above expectations, that could boost the dollar and put pressure on gold. On the other hand, weak data could put immediate pressure on the USD and support gold prices to rise further. Economic data to watch next week Monday: S&P Flash PMI Tuesday: US consumer confidence Wednesday: New home sales in the United States Thursday: Durable goods orders, third quarter GDP, weekly unemployment claims; US pending home sales Friday: US PCE Analysis of technical prospects for OANDA:XAUUSD On the daily chart, gold continues to find new all-time highs with conditions tilting towards the upside. From the long-term price channel and the EMA21 line, they point towards an increase in price. Using Fibonacci extension to follow the trend, gold temporarily closes weekly below 0.618% and this is also the confluence point with the upper edge of the price channel. Once this level is broken, gold will tend to increase further towards the 2,645 USD area, the price point of the 0.786% Fibonacci extension. The relative strength index RSI is pointing up with a large slope without showing signs of weakening from the overbought area, showing that there is still room for price growth ahead although not much. However, in the current trading environment, strong corrections can still occur quickly with the levels of 2,610 - 2,600 - 2,595USD being the closest current supports. Finally, gold's uptrend will be noticed again by the following technical levels. Support: 2,610 – 2,600 – 2,595USD Resistance: 2,631 – 2,645USD SELL XAUUSD PRICE 2646 - 2644⚡️ ↠↠ Stoploss 2650 →Take Profit 1 2639 ↨ →Take Profit 2 2634 BUY XAUUSD PRICE 2586 - 2588⚡️ ↠↠ Stoploss 2582 →Take Profit 1 2593 ↨ →Take Profit 2 2598
OANDA:XAUUSDLong
by Xayah_trading
Geopolitical tensions escalate, GOLD is heading to a new peakOn the Asian market on Tuesday (September 24), spot gold continued its recovery trend. The current gold price is at around 2,634USD/ounce, close to the historic high reached the previous trading day. According to CME's "Fed Watch" tool, the probability of the Fed cutting interest rates by 25 basis points in November is 48.6% and the probability of cutting interest rates by 50 basis points is 51.4%. The market is pricing in a higher likelihood of a 50bps interest rate cut by the Fed in November, which weakens the US Dollar and supports gold prices in terms of correlation. Additionally, ongoing geopolitical risks stem from ongoing conflicts in the Middle East, as well as U.S. political instability ahead of the November election and recession concerns. The economy will support the safe haven price of gold. Gold is known as a traditional safe haven whenever risks appear in the market, while currently political and economic instability appears. dense. Therefore, the basic trend of gold prices will still be upward. Israel launched airstrikes on so-called Hezbollah weapons sites in southern and eastern Lebanon on Monday, killing nearly 500 people and raising the risk of wider conflict in the Middle East. The Pentagon said Monday that the United States will send more troops to the Middle East as violence increases in the region, the Associated Press reported. Analysis of technical prospects for OANDA:XAUUSD On the daily chart, gold is supported by the trend from the short-term price channel and is currently continuing to recover after a slight correction yesterday. Currently, gold is moving towards the initial target increase noticed by readers in the weekly publication at 2,645USD which is the confluence of the edge on the price channels and the 0.786% Fibonacci extension. At 2,645USD, it is expected that there will be certain adjustments but will not affect the main short-term trend of price increase. The relative strength index (RSI) is in the overbought area on the daily chart so there may not be much room left for the price to rise and is in line with expectations of a downward correction from the aforementioned confluence. Notable technical levels for the day are listed below. Support: 2,624 – 2,613 – 2,610 Resistance: 2,634 – 2,645USD SELL XAUUSD PRICE 2646 - 2644⚡️ ↠↠ Stoploss 2650 →Take Profit 1 2639 ↨ →Take Profit 2 2634 BUY XAUUSD PRICE 2586 - 2588⚡️ ↠↠ Stoploss 2582 →Take Profit 1 2593 ↨ →Take Profit 2 2598
OANDA:XAUUSDLong
by Xayah_trading
1
BOE may still warn of inflation, GBPUSD raises new targetThe British pound (GBP) will continue to outperform after the Bank of England signaled that it will maintain its restrained approach to interest rate cuts. Bank of England Governor Bailey said the central bank needs to be careful not to cut interest rates too quickly or too much. He also said that since the August meeting, inflationary pressures in the UK have continued to ease and overall economic performance is in line with expectations. The Bank of England certainly seems not to be on the Fed's side and will not send a signal to lift its inflation warning. The British pound will likely continue to perform well in the near term, based on fundamentals. On the daily chart, OANDA:GBPUSD in the main uptrend with the price channel as the main trend and the EMA21 level as the main support. The current position of GBP/USD above the 0.50% fibonacci extension shows that it could still continue to increase briefly in the near term with the 0.618% Fibonacci level, 1.33717 price point as the target. The relative strength index (RSI) is pointing up but has not yet reached the overbought level, showing that there is still a bit of room for price growth ahead. As long as GBP/USD remains within the price channel, the main outlook will remain bullish and in the short term notable levels for a bullish outlook are listed below. Support: 1.33009 – 1.32301 Resistance: 1.33717
Long
by Xayah_trading
GOLD → Testing the highs. News ahead. What's next?FX:XAUUSD is getting shaken on the background of dollar growth on Monday. A false breakdown is forming relative to last week's high. The trend is bullish, but before the strong news there may be a minute of panic.... Yields on 10-year U.S. Treasury bonds are rising on the back of falling interest rates, boosting the U.S. dollar. This is an unpredictable scenario, because something is not going the way everyone was expecting. Further movement depends on the Euro and US PMI data. If the PMI will again cause fears of recession in the world, the recovery of the US dollar, will change the local structure of the markets, which will cause a new correction in the price of gold from record highs. Also the focus on the escalation of geopolitical tensions in the Middle East... Resistance levels: 2625, 2631, 2650 Support levels: 2614, 2602, 2589 Technically, a correction may follow from 2625 as locally there are preconditions for panic on the background of approaching news. Traders may resort to profit taking, which will contribute to the correction. BUT, if gold continues its active recovery, a break of 2631 will open the potential for a rise to 2640-2650. Rate, share your opinion and questions, let's discuss what's going on with ★ FX:XAUUSD ;) Regards R. Linda!
FX:XAUUSDShort
by RLinda
11
XAUUSD There is no stopping it. Can breach $3000 by mid 2025.It was only a little over a month ago (August 05, see chart below) when we signaled a strong buy on Gold (XAUUSD), targeting at 3100: Practically, we've been calling for Gold's new Bull Cycle since April 04 (see chart below): As you can see the price action followed our projection closely and immediately broke higher making a new All Time High. According to the 2019 - 2020 Bull Phase, we are in the middle of the Cycle, assuming both fractals are similar in % rise terms (+85.42%) or the 3.0 Fibonacci extension. Even if they don't, it is pretty clear that the long-term pattern is an 8-year Channel Up and most likely shouldn't top before the 1M CCI starts making Lower Highs. So far we have priced the first High (April 2024) and according to the 2020 fractal, the second should be at the end of the Bull Phase when the trend tops. If that's not at 3100 by that time, we encourage you to take the long-term profit earlier like us. Also, this chart shows that since 2015, October isn't generally a bad month to buy at all, having failed as an entry only 2 times in 10 years. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
FX_IDC:XAUUSDLong
by TradingShot
GOLD MARKET ANALYSIS AND COMMENTARY - [Sep 23 - Sep 27]This week, after opening at 2,579 USD/oz, the international gold price dropped to 2,546 USD/oz, but then continuously increased sharply beyond the threshold of 2,600 USD/oz to 2,625 USD/oz and closed the week. at 2,622 USD/oz. International gold prices increased sharply because the FED cut interest rates by up to 50 basis points and signaled that it would further cut interest rates by about 200 basis points in the next 2 years. FED Chairman Powell said the FED will not rush to sharply loosen monetary policy and noted that the FED is currently in the process of readjusting its monetary policy. Mr. Powell's comments show that the FED will not be too hasty in cutting interest rates, but will adjust monetary policy according to a specific roadmap. This may somewhat cause confusion among investors, causing them to take profits from gold investments that have yielded large profits, causing gold prices to adjust and accumulate in the short term. However, with the FED's roadmap to cut interest rates, gold prices are expected to continue to increase sharply in the near future. 📌Technical analysis indicators, such as MACD, RSI... are showing that gold price is in the overbought zone in the short term. However, the upward momentum of gold prices is still there, with no signs of reversal. The attractive area for gold prices seems to be the round block of 3,000 USD/oz, corresponding to the Fibo level of 261.8 calculated according to the Weekly chart. From a narrower perspective, looking at the H4 chart, in the immediate future, the gold price may continue to maintain its upward momentum to conquer the next resistance level around 2,690 - 2,700 USD/oz, before decreasing and adjusting again. Notable technical levels are listed below. Support: 2.595 – 2.600 – 2.610USD Resistance: 2.645 – 2.624USD SELL XAUUSD PRICE 2691 - 2689⚡️ ↠↠ Stoploss 2695 BUY XAUUSD PRICE 2519 - 2521⚡️ ↠↠ Stoploss 2515
OANDA:XAUUSDLong
by Xayah_trading
SILVER SHORT via AG (WORST RUN MINER IN THE GAME) FUNDAMENTAL - Price of Silver aside, AG is an incredibly poorly run miner. From mass share dilution to disastrous acquisitions I can not think of a more poorly run company. The stock price speaks for itself... sitting near the lows of the year despite silver at recent highs. SILVER - Silver has been behaving very weak in relation to Gold. Unless we break out above 31.50-32.50 I see Silver continuing to be range bound at best. There are many reasons for this. Mainly indications from strong correlations that I will not mention (secret sauce). TECHNICALS - The price is at a solid supply level (6.20) and has already began dramatic impulses to the downside at any hint of Silver rolling over. In addition we have divergence on the RSI. DISCLAMER: No Neumeyers were hurt in the making of this post
NYSE:AGShort
by TheSilverOracle
COT Strategy - Gold ShortDISCLAIMER: This is not trade advice. This is for educational purposes only to demonstrate how I am looking to participate in this market. There is significant risk involved in trading, do your own homework and due diligence. COT Strategy SHORT Gold (GC) My COT strategy has me on alert for short trades in GC if we get a confirmed bearish change of trend on the Daily timeframe. COT Commercial Index: Sell Signal Valuation: Overvalued vs Treasuries Extreme Positioning: Commercials most short they have been in last 3 years = bearish. Only thing that would be better is SS's making an extreme in long positioning, but no luck with that yet (but something I'm watching). OI Analysis: OI has been increasing on up move since June. When OI increases, we need to ask "who caused the OI increase"? When it is caused by Large Specs & Small Specs, it is bearish. In the case of Gold, it is being caused by LS & SS's, which is bearish. Spread: Bearishly diverging. ADX: Diverging, implying the trend lacks integrity. Supplementary Indicators: Acc/Dis , %R, Stochastic & Momentum (not yet triggered) Remember, this is not a "Short Now" idea. These indicators are not timing tools. They simply tell us that this market could have a move of some significance to the downside, which we will participate in with a confirmed Daily trend change to the downside. Good luck & good trading.
COMEX:GCZ2024Short
by Tradius_Trades
GOLD surpassed the 2,600 USD/oz markOANDA:XAUUSD increased sharply in the trading session on Friday (September 20), with spot gold prices officially surpassing the important barrier of 2,600 USD/oz for the first time in history. The possibility of the US Federal Reserve (Fed) continuing to cut interest rates and geopolitical tensions in the Middle East act as direct catalysts for this breakthrough in gold. At closing, the spot price of gold in the New York market increased by 36.3 USD/oz, equivalent to an increase of 1.4%, closing at 2,622.4 USD/oz. The Fed's move to lower interest rates by half a percentage point on Wednesday is "fueling" gold prices. This precious metal is a non-interest bearing asset, so it benefits in a falling interest rate environment. According to data from CME's FedWatch Tool, interest rate futures traders are betting on a 100% chance the Fed will cut interest rates in both its November and December meetings. In addition, this year, global investors are also actively buying gold to hedge against lingering geopolitical risks in the Middle East and some other places. The trend of net buying gold by central banks to diversify foreign exchange reserves away from the USD also contributed greatly to the increase in gold prices. Israel announced that it had killed a senior commander and important figures of Hezbollah in an airstrike in Beirut, Lebanon, raising concerns about the risk of widespread war in the Middle East. However, US President Joe Biden still believes that the possibility of reaching a ceasefire agreement for the Gaza Strip is realistic. Since the beginning of the year, gold prices have increased 26%, the largest increase in a year since 2010. Some analysts believe that this record increase in gold prices may soon turn into a correction state. The Dollar Index, which measures the greenback's strength against a basket of six other major currencies, increased 0.12% on Friday, closing at 100.74 points. However, the index has decreased 0.37% this week and decreased nearly 4.8% in the past 3 months - according to data from MarketWatch.
OANDA:XAUUSDLong
by Xayah_trading