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GC1! (Gold Futures)

Forecast UPDATES! Jan 15, WedIn this video, we will update the forecasts for the following markets: ES \ S&P 500 NQ | NASDAQ 100 YM | Dow Jones 30 GC |Gold SiI | Silver PL | Platinum HG | Copper Enjoy! May profits be upon you. Leave any questions or comments in the comment section. I appreciate any feedback from my viewers! Like and/or subscribe if you want more accurate analysis. Thank you so much! Disclaimer: I do not provide personal investment advice and I am not a qualified licensed investment advisor. All information found here, including any ideas, opinions, views, predictions, forecasts, commentaries, suggestions, expressed or implied herein, are for informational, entertainment or educational purposes only and should not be construed as personal investment advice. While the information provided is believed to be accurate, it may include errors or inaccuracies. I will not and cannot be held liable for any actions you take as a result of anything you read here. Conduct your own due diligence, or consult a licensed financial advisor or broker before making any and all investment decisions. Any investments, trades, speculations, or decisions made on the basis of any information found on this channel, expressed or implied herein, are committed at your own risk, financial or otherwise.
TVC:DXY
by RT_Money
XAUUSD bullish upon holding the MA50 (1h). Targeting 2720.Gold is trading inside a Channel Up and is currently on the new bullish wave. Today it held the MA50 (1h), which is a strong bullish sign that the wave will continue to a new higher high. Trading Plan: 1. Buy on the current market price. Targets: 1. 2720 (the 1.618 Fibonacci extension). Tips: 1. The RSI (1h) is forming the exact same pattern as the previous bullish wave, currently following the January 7th structure. Please like, follow and comment!! Notes: Past trading plan:
FX_IDC:XAUUSDLong
by TradingBrokersView
XAUUSD: 1H MA200 rebound.Gold is neutral on its 1D technical outlook (RSI = 54.885, MACD = 7.900, ADX = 30.745) as it is consolidating between the 1H MA50 and 1H MA200. Since yesterday, it has found support on the latter. The 1H RSI is rebounding in the same way it did on January 6th, which was the previous HL of the Channel Up. This indicates that it is a buy opportunity. The two bullish waves before both hit their 1.618 Fibonacci extensions to form a HH at the top of the Channel Up. Consequently, we turn bullish on Gold now, aiming at the 1.618 Fib (TP = 2,720) which conveniently falls a little under the R1 level. ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
FX_IDC:XAUUSDLong
by InvestingScope
1
USD soars, GOLD corrects but conditions remain bullishAfter last week's surge, OANDA:XAUUSD Spot trading suddenly suffered a fierce correction and the upward momentum was limited. US bond yields soared, the US Dollar strengthened and investors' profit-taking activities affected the trend of gold. In addition, news of a ceasefire in the Middle East also negatively impacted gold prices. OANDA:XAUUSD fell again as US Treasury yields rose to their highest since November 2023. The US Dollar Index surpassed 110.00 in trading on Monday, pressuring gold prices. The dollar index rose to its highest since November 2022 after the US jobs report emphasized the strength of the economy and clouded the prospect of interest rate cuts by the Federal Reserve. A rising Dollar will make gold less attractive. The latest New York Fed survey shows one-year inflation expectations at 3% and interest rate futures traders are pricing in a Fed rate cut this year of less than 25 basis points. copies, or less than once. Because gold does not generate interest, a high interest rate environment reduces its appeal to investors. A ceasefire in Gaza could take place as early as this week White House national security adviser Jake Sullivan told Bloomberg on Monday that the Biden administration believes a ceasefire in Gaza could be reached as early as this week. He added that there was no guarantee that all parties would agree to such a deal. In an interview with Bloomberg, Sullivan said US President Joe Biden's administration has contacted Trump's newly elected team and is looking to form a united front on this issue before the transfer of power in Washington on January 20. Previously, Britain's Reuters quoted officials familiar with the negotiation process as saying on Monday that mediators had submitted a draft "final agreement" to the warring parties on a ceasefire and the release of children. believe. Officials said that in addition to delegations from both Israel and Kazakhstan, current US President McGurk and President-elect Trump's Middle East envoy Steve Witkoff were also present at the peace talks. hosted by Qatar Prime Minister Mohammed in Doha. Reuters said the talks achieved a breakthrough after midnight on Sunday and mediators led by Qatar immediately submitted a draft ceasefire agreement to Israel and Kazakhstan. Analysis of technical prospects for OANDA:XAUUSD Although gold has adjusted down significantly from the important confluence level, readers should pay attention to previous publications at the Fibonacci retracement of 0.382% confluence with the upper edge of the green price channel and one side of the triangle. purple price. But the downside correction was also limited after reaching target support at the 0.50% Fibonacci retracement level. Currently, gold is recovering from the 0.50% Fibonacci level, but first it needs to break the technical point of 2,676 USD, then the target is around 2,693 - 2,700 USD in the short term. Up to now, gold still has conditions to increase technically with supporting factors from EMA21, POC Volume Profile and the green short-term rising price channel. Along with that, the Relative Strength Index maintained its activity above 50, also quite far from the overbought area, showing that there is still room for price increases ahead. During the day, the technical outlook for gold is bullish with notable points listed as follows. Support: 2,664 – 2,650USD Resistance: 2,693 – 2,700USD SELL XAUUSD PRICE 2688 - 2686⚡️ ↠↠ Stoploss 2692 →Take Profit 1 2681 ↨ →Take Profit 2 2676 BUY XAUUSD PRICE 2644 - 2646⚡️ ↠↠ Stoploss 2640 →Take Profit 1 2651 ↨ →Take Profit 2 2656
OANDA:XAUUSD
by Xayah_trading
GOLD has bullish conditions, pay attention to inflation dataOANDA:XAUUSD is accumulating upward momentum, rising to a new multi-week high above $2,680 an ounce. The technical outlook shows that gold prices have shifted to an uptrend in the near future. Next week, key economic indicators from China and the US inflation data will likely drive gold price movements. The US government on Friday released a nonfarm report showing 256,000 new jobs were created last December, far higher than the expected 160,000 and the biggest increase in nine months. The unemployment rate in December was 4.1%, also the lowest with an expected value of 4.2%. Reasons for OANDA:XAUUSD The recovery after Friday's decline was due despite stronger-than-expected US nonfarm payrolls data, reducing the likelihood of a sharp interest rate cut by the Federal Reserve this year. However, the Trump administration's upcoming policies have brought uncertainty, increasing gold's safe-haven appeal. It can be quite certain that, as soon as Trump takes office, a series of major changes in US economic and foreign policy will suddenly change and gold will always benefit in an economically unstable environment. geopolitics. Gold investors will wait for US inflation data Early next week, investors will pay attention to China's December trade balance data. A significant increase in China's trade surplus could support gold prices during the Asian session next Monday. Next Wednesday, US December inflation data could trigger gold's next big move. The market expects the US Consumer Price Index (CPI) to rise 0.3% month-on-month in December, but core CPI to fall 0.1% over the same period. If CPI is higher than expected, the immediate market reaction could boost the USD and cause gold to fall. On the other hand, negative data could make it difficult for the USD to find demand and help gold maintain its position or push gold prices higher. Gold investors will wait for US inflation data Early next week, investors will pay attention to China's December trade balance data. A significant increase in China's trade surplus could support gold prices during the Asian session next Monday. Next Wednesday, US December inflation data could trigger gold's next big move. The market expects the US Consumer Price Index (CPI) to rise 0.3% month-on-month in December, but core CPI to fall 0.1% over the same period. If CPI is higher than expected, the immediate market reaction could boost the USD and cause gold to fall. On the other hand, negative data could make it difficult for the USD to find demand and help gold maintain its position or push gold prices higher. China's fourth-quarter gross domestic product (GDP) data could influence gold trends during the Asian trading session next Friday. Analysts expect China's annual GDP growth rate to reach 5.1% in the fourth quarter, higher than the 4.6% growth rate in the third quarter. A positive surprise could help gold prices edged higher, while disappointing GDP data could weigh on gold prices. Market participants will also pay attention to new developments surrounding Trump's tariff strategy. While gold benefits from risk aversion, a sharp rise in US Treasury yields could limit gold's gains. The economic calendar needs attention next week Tuesday: US PPI Wednesday: US CPI, Empire State Manufacturing Survey Thursday: US Retail Sales, Philly Federal Reserve Survey, Weekly Jobless Claims Friday: Housing construction starts and construction permits in the United States Analysis of technical prospects for OANDA:XAUUSD From a technical perspective, on the daily chart, gold has achieved conditions for a short-term uptrend although the upward momentum is being hindered by the 0.382% Fibonacci retracement level. And once gold breaks above $2,693 it will be ripe for upside with a target of around $2,730 in the short term. In terms of support factors, the POC Volume Profile level will be the closest support, combined with the EMA21 and Fibonacci 0.618% creating a reliable support area for each correction to ensure that, as long as gold does not If it breaks below the 0.618% Fibonacci level, it still has the potential to increase in price in the near future. Meanwhile, the Relative Strength Index is also pointing up from level 50, still quite far from the overbought level with a significant slope, this is a signal for room for price increases in the near future. On the other hand, an uptrend price channel has also just been formed. In the coming time, the technical outlook for gold tends to increase in price with notable levels listed as follows. Support: 2,676 – 2,664USD Resistance: 2,693 – 2,700USD SELL XAUUSD PRICE 2711 - 2709⚡️ ↠↠ Stoploss 2715 →Take Profit 1 2704 ↨ →Take Profit 2 2699 BUY XAUUSD PRICE 2661 - 2663⚡️ ↠↠ Stoploss 2657 →Take Profit 1 2668 ↨ →Take Profit 2 2673
OANDA:XAUUSD
by Xayah_trading
1
Weekly Market Forecast Jan 13, 2025This is an outlook for the week of Jan 13-17th. In this video, we will analyze the following FX markets: ES \ S&P 500 NQ | NASDAQ 100 YM | Dow Jones 30 GC |Gold SiI | Silver PL | Platinum HG | Copper The indices look set to move lower this week, with the possible exception of the DOW. The metals are rallied on Friday, and may continue upward this week, despite a relatively strong USD. Enjoy! May profits be upon you. Leave any questions or comments in the comment section. I appreciate any feedback from my viewers! Like and/or subscribe if you want more accurate analysis. Thank you so much! Disclaimer: I do not provide personal investment advice and I am not a qualified licensed investment advisor. All information found here, including any ideas, opinions, views, predictions, forecasts, commentaries, suggestions, expressed or implied herein, are for informational, entertainment or educational purposes only and should not be construed as personal investment advice. While the information provided is believed to be accurate, it may include errors or inaccuracies. I will not and cannot be held liable for any actions you take as a result of anything you read here. Conduct your own due diligence, or consult a licensed financial advisor or broker before making any and all investment decisions. Any investments, trades, speculations, or decisions made on the basis of any information found on this channel, expressed or implied herein, are committed at your own risk, financial or otherwise.
COMEX:HG1!
by RT_Money
7
XAUUSD Channel Up pull-back and then new High.Gold (XAUUSD) has been trading within a short-term Channel Up on the 4H time-frame since the December 26 2024 High. It just formed a 4H Golden Cross, which gives the medium-term a stronger bullish potential but on the short-term, it is highly likely to see the Channel Up first pull-back on a new Bearish Leg to test the 4H MA50 (blue trend-line). That will be the best buy opportunity (assuming the candles close within the Channel Up) and aim for a new Higher High near Resistance 1 at 2725. ------------------------------------------------------------------------------- ** 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
2
GOLD MARKET ANALYSIS AND COMMENTARY - [January 13 - January 17]Over the past week, international OANDA:XAUUSD increased from 2,614 USD/oz to 2,698 USD/oz and closed at 2,688 USD/oz. The main reason is concerns about rising inflation in the US due to President-elect Donald Trump's expansionary fiscal policies, tariffs and tightening immigration policies. Although high interest rates are often detrimental to gold prices, in the context of strong inflation, real interest rates decrease, creating a positive impact on gold prices. That is also the reason why the US non-farm payrolls (NFP) report for December 2024 increased by 256,000 jobs, far exceeding Reuters' forecast of 160,000 jobs and surpassing November's revised figure of 227,000 jobs, but gold prices still increased sharply this week. With the inauguration day (January 20, 2025) of President-elect Donald Trump approaching, it is likely that next week's gold price will still be supported. Because Mr. Trump's expected policies, especially expansionary fiscal policy, tariff policy, and immigration policy, will all have the risk of increasing inflation. In particular, although tariff policy can reduce the US trade deficit, it will push up consumer prices. Tighter immigration policies will increase labor costs, causing product prices to increase, thereby also risking increasing the consumer price index... Meanwhile, the FED has announced that it may only cut interest rates once this year, or may not even cut interest rates this year, if Mr. Trump's above-mentioned policies push US inflation to skyrocket. 📌Looking at the chart, next week's gold price will likely continue to move upward with the next important resistance levels being 2,725 - 2,790 USD/oz. Meanwhile, the level of 2,585 USD/oz is an important support level for gold prices next week. Notable technical levels are listed below. Support: 2,676 – 2,664USD Resistance: 2,693 – 2,700USD SELL XAUUSD PRICE 2761 - 2759⚡️ ↠↠ Stoploss 2765 BUY XAUUSD PRICE 2649 - 2651⚡️ ↠↠ Stoploss 2645
OANDA:XAUUSD
by Xayah_trading
Gold Update: Sideways Consolidation ^ $2,800 => $2,400-$2,500Gold futures follow the path posted earlier (see related). It dropped quickly and deeply within a correction to hit the $2,542 mark. Next was a strong rebound that stalled just above $2.7k Then we saw a series of zigzags that shaped a small consolidation All of this indicates of the sideways consolidation pattern which implies the box type flat correction with top and bottom of the range defined by all-time high ($2,802) and the valley at $2,542. The height of the range is around 300 bucks. Next step for the price to retest or only touch the all-time high, further we might face another drop to retest the valley of $2,542 or even lower to touch the bottom of the bullish channel. Another downside target is at 38.2% Fib at $2,400. After that, the consolidation could be over and the bullish trend to resume with new impulse.
COMEX:GC1!
by aibek
NFP focus, GOLD is reaching initial bullish conditionsOn Asian markets on Friday (January 10), OANDA:XAUUSD Spot delivery maintains the intraday recovery trend and gold price is currently at about 2,672 USD/ounce, a range of about more than 1 dollar during the day as of the time of writing. Market participants turned their attention to the US nonfarm payrolls report. Today (Friday), the United States will release the closely watched non-farm payrolls report, which is expected to cause a big move in the gold market. Authoritative surveys show nonfarm payrolls in the United States would have increased by 160,000 last December, following a whopping 227,000 increase in November. US unemployment rate expected to fall maintained at 4.2% in December. The survey found that average hourly wages in the United States are expected to increase 0.3% month-over-month in December, following a 0.4% increase in November. Annual wage growth is likely maintained at 4%. Better-than-expected US nonfarm payrolls data is seen as positive for the dollar and vice versa. And of course, this greatly impacts the gold price trend. From a technical perspective, OANDA:XAUUSD is heading for the 4th consecutive day of increase but the real uptrend has not yet been clearly formed. However, the daily chart of gold prices has also achieved the initial technical conditions for a possible increase in price with price activity above EMA21, POC Volume Profile and the 0.50% Fibonacci retracement level. Currently, these indicators are becoming the closest support. An important factor for the uptrend to form is the level of 2,693USD, which is considered a technical confirmation point for a newly formed uptrend. Once it is broken above and gold sustains activity above this level, the next target is around $2,730 in the short term. The relative strength index RSI has also risen above 50. However, the slope is not large but it is still considered a positive signal for gold prices in the near future. During the day, gold had initial bullish technical conditions and notable levels are listed below. Support: 2,664 – 2,645 – 2,634USD Resistance: 2,693 – 2,700USD SELL XAUUSD PRICE 2691 - 2689⚡️ ↠↠ Stoploss 2695 →Take Profit 1 2684 ↨ →Take Profit 2 2679 BUY XAUUSD PRICE 2649 - 2651⚡️ ↠↠ Stoploss 2545 →Take Profit 1 2656 ↨ →Take Profit 2 2661
OANDA:XAUUSD
by Xayah_trading
GOLD → Resistance retest before falling FX:XAUUSD is consolidating and deliberately approaching the resistance 2667. The upward market structure is focused on a breakout of the resistance. But the other question is whether the breakout will happen, because the sticks in the form of economic data have been in the wheels for a long time now Based on the market behavior, we can assume that before the possible fall there may be a liquidity grab and a retest of the key resistance, as buyers became more cautious after the discouraging data on inflation in China and hawkish Fed meeting minutes. To be honest, gold's current rise is not clear to me as there is no reason for it except for Trump's tariff plans towards multiple countries. Fundamental data is negative, there is no new news from hot spots, the dollar is rising, global inflation is rising, the Fed has become hawkish, there are so many nuances providing resistance to the metal. Resistance levels: 2667, 2675 Support levels: ascending line, 2656 Technically the structure is bullish and in the short term I am waiting for an attempt to break the resistance 2667. In this case a retest of the zones of interest 2675, channel resistance or 2692 from which a correction can be formed is possible. Regards R. Linda!
FX:XAUUSDShort
by RLinda
3
GOLD hits 4-week high, eyes on NFP and Trump inaugurationOANDA:XAUUSD hit a near four-week high, although minutes from the Federal Reserve's meeting suggested it could take a more hawkish stance as inflationary pressures continue to mount. As of the time of writing, spot gold is currently trading at around 2,659.78 USD/ounce. It rose to yesterday's high of $2,670.01, its highest since December 13. It's worth noting that the previously released December private jobs report was weaker than expected, giving the market some confidence that the Federal Reserve may not be too cautious in cutting interest rates this year. . ADP's national jobs report showed the U.S. economy added 122,000 private-sector jobs last month, while economists had expected a gain of 140,000. A separate report from the Labor Department showed 201,000 people filed for unemployment benefits last week, below expectations of 218,000. The more important factor is the US nonfarm payrolls data released on Friday, which is expected to change 163,000 jobs; Any data significantly higher than this number will have a negative impact on gold. Markets will now be fully focused on the US Nonfarm Payrolls Data and Donald Trump's January 20 inauguration, where they expect Trump to announce a series of policy initiatives. Minutes from the Fed's Dec. 17-18 meeting showed that officials expect inflation to ease this year but acknowledged the risk of continued price pressures, especially as they assess the potential impact from Trump's policy. Trump's proposed tariffs could fuel inflation in the US, complicate the Federal Reserve's ability to cut interest rates and could pressure gold prices. However, Fed Governor Christopher Waller said inflation will continue to decline in 2025 and allow the central bank to lower interest rates further, albeit at an uncertain pace. Gold is considered an inflation hedge, but high interest rates have reduced the appeal of this non-returning asset, and in contrast to a low interest rate environment, gold will be the top choice. Analysis of technical prospects for OANDA:XAUUSD On the daily chart, gold is still temporarily limited by the 0.50% Fibonacci retracement level, although yesterday's trading day there were times when it briefly jumped above this level. However, overall, the trend is still neutral with price movements gradually moving towards the top of the purple price triangle. However, with the current position, gold has conditions to increase in price with support from EMA21, POC Volume profile and the 0.618% Fibonacci retracement level. In the event that gold breaks the $2,664 level it is likely to increase further with a target then around $2,693 in the short term, a 0.382% Fibonacci retracement point. During the day, neutral bias with bullish positioning conditions will be brought into focus again by the following technical levels. Support: 2,634 – 2,640USD Resistance: 2,664 – 2,693USD SELL XAUUSD PRICE 2683 - 2681⚡️ ↠↠ Stoploss 2687 →Take Profit 1 2676 ↨ →Take Profit 2 2671 BUY XAUUSD PRICE 2637 - 2639⚡️ ↠↠ Stoploss 2533 →Take Profit 1 2644 ↨ →Take Profit 2 2649
OANDA:XAUUSD
by Xayah_trading
2
GOLD → The calm before the storm. What to expect?FX:XAUUSD is consolidating above 2645 and trying to test the strong resistance of 2664. Downside risks are quite high and it may happen after liquidity capture. Gold has high risks due to yesterday's favorable data in the US. Hawkish expectations for the Fed, strong economic data put the dollar back on the northbound train. Markets priced in a 35% chance of a Fed interest rate cut this month. Trump takes office on Jan. 20 and his proposed tariffs and protectionist policies are seen as inflationary, requiring higher interest rates and a stronger U.S. dollar. If risk aversion intensifies amid renewed geopolitical tensions in the Middle East or Trump's tariff threats, that could send gold higher A symmetrical triangle is forming on D1, which confuses everyone - where will the price go? And all because the technical situation is neutral. Resistance levels: 2664, 2674 Support levels: 2645, 2632. False breakdown of resistance can provoke a fall to the strong support, the border of the triangle. Gold is growing reluctantly and slowly, as if something is in the way, and the risks and pressure are increasing. BUT! If the price goes to 2664, it is important to watch the price reaction to this level: consolidation above the level may provoke further growth to 2674. Similarly with the support of 2645 Regards R. Linda!
FX:XAUUSDShort
by RLinda
6
Pay attention to ADP and FOMC minutes of the dayOn this trading day, Wednesday January 8, investors will need to focus on US ADP jobs data and Federal Reserve meeting minutes, which are expected to causing major fluctuations in the market. On Wednesday, US ADP employment change data for December will be released. This data is called "small non-farm" and is expected to create a major trend in the market. Surveys show that US ADP employment is expected to increase by 140,000 in December. Previously, US ADP employment increased by 146,000 in November. On the same day, one of the Federal Reserve's most influential senior officials, Governor Waller, will give a speech on the economic outlook at the OECD meeting. On Thursday, the US Federal Open Market Committee (FOMC) will release the minutes of its December monetary policy meeting. The minutes could provide more information about the future policy roadmap, especially whether the Fed will actually become hawkish or not. At its December meeting, the Fed cut interest rates by 25 basis points as expected, and officials forecast just two rate cuts in 2025. Fed Chairman Jerome Powell said further adjustments will be made. depends on inflation developments. The accumulation state on the daily chart of gold prices is still continuing. After yesterday's recovery, the upward momentum is limited by the 0.50% Fibonacci retracement level. Attention readers in the previous issue there. Up to now, the price activity position is becoming increasingly narrower, gradually entering the corner of the accumulation price triangle. This shows hesitant market sentiment, and predicts an impending spike in amplitude. Regarding the overall picture, the gold price trend is still neutral, sticking around EMA21 and the Fibonacci level of 0.618%. With upside limited by 2,664 – 2,693USD and downside limited by 2,604 – 2,600 – 2,592USD. Along with that, the Relative Strength Index is still sticking around 50, also showing the market's hesitant psychology. Before the fundamental impact creates price structural mutations, gold still has a neutral outlook, with a cumulative sideways trend, and notable levels will be listed as follows. Support: 2,634 – 2,604 – 2,600USD Resistance: 2,664 – 2,693USD SELL XAUUSD PRICE 2677 - 2675⚡️ ↠↠ Stoploss 2661 →Take Profit 1 2670 ↨ →Take Profit 2 2665 BUY XAUUSD PRICE 2617 - 2619⚡️ ↠↠ Stoploss 2513 →Take Profit 1 2624 ↨ →Take Profit 2 2629
OANDA:XAUUSD
by Xayah_trading
GOLD → Price buyback, local bull characterFX:XAUUSD is in a narrow channel, in consolidation, which complicates intraday movement, but nevertheless traders have a chance for possible growth. There is a lot of important news ahead that may give traders a chance. Despite the strong intraday movement in gold, we can say that the price is standing still in the range of 2600 - 2660. Quite a difficult place for the price due to the huge density of volumes, levels, tails... Traders are refraining from new directional bets ahead of the release of crucial data on ISM Services PMI and JOLTS job openings in the US. After a strong fall the price was bought back and returned to resistance 2648 - 2650, most likely further struggle will be for this area. The falling dollar broke the support line, thus giving an advantage to gold. Gold and the dollar are already starting to feel Trump's power and are reacting to his statements as quickly as they did during the last period of his presidency.... Resistance levels: 2649, 2664, 2674 Support levels: 2632, 2610 Until the price leaves the channel 2600 - 2665, most of the movements will not be very clean (nature of price movement inside consolidation). At the moment the emphasis is on 2649. If the bulls will keep the defense above this zone, then in the short term the price may show growth to the local maximum Regards R. Linda!
FX:XAUUSDLong
by RLinda
14
Maintain neutrality, pay attention to US data todayAs of press time on Tuesday (January 7), OANDA:XAUUSD Spot delivery maintains a moderate recovery trend during the day, with gold prices currently around 2,639 USD/ounce. Gold prices continue to stabilize, with technical trends unchanged from previous releases. During this trading day, US macro data will be in focus with the data mentioned below expected to create significant volatility in the short term. Today (Tuesday), the U.S. Bureau of Labor Statistics will release the Job Openings and Labor Turnover Survey (JOLTS). This important employment data is expected to cause large fluctuations in gold prices this trading day. Economists predict that there will be 7.7 million JOLT job openings in the United States in November, compared with 7.744 million in October. The JOLTS job vacancy report was one of the labor force indicators that U.S. Treasury Secretary Yellen valued most when she was chair of the Federal Reserve. This index is also labor market data that the Fed is very interested in. Additionally, on the same day, the US ISM non-manufacturing purchasing managers index (PMI) for December will be published and is expected to be 53.5, compared to the previous value of 52.1. In terms of technical structure, OANDA:XAUUSD Still mainly accumulating activities with price activities sticking around the EMA21 line. And the cumulative sideways trend is depicted by the purple price triangle. On the other hand, the Relative Strength Index is also sticking around 50, showing that market sentiment is also hesitant and waiting for a significant fundamental impact to create a short-term trend. During the day, the technical outlook for gold prices is neutral, moving sideways and accumulating with notable levels that will be listed as follows. Support: 2,634 – 2,604 – 2,600USD Resistance: 2,664 – 2,693USD SELL XAUUSD PRICE 2658 - 2656⚡️ ↠↠ Stoploss 2662 →Take Profit 1 2651 ↨ →Take Profit 2 2646 BUY XAUUSD PRICE 2623 - 2625⚡️ ↠↠ Stoploss 2519 →Take Profit 1 2630 ↨ →Take Profit 2 2640
OANDA:XAUUSD
by Xayah_trading
2