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GC1! (Gold Futures)

GOLD dropped and recovered quickly, new news from Korea, NFPOn the Asian market on Friday (December 6), OANDA:XAUUSD Spot delivery suddenly increased sharply in the short term. Gold prices have increased sharply from an intraday low of nearly 2,613 USD/ounce and are currently trading around 2,643 USD/ounce, close to the technical level of 2,644 USD. There was news that South Korea might impose martial law for a second time, which quickly increased market risk aversion and stimulated a sharp increase in gold prices. According to the latest report from Yonhap News Agency on Friday, South Korea's opposition parties may seek to hold an impeachment vote on President Yun Xiyue at 5 p.m. local time on Saturday. South Korean media JTBC reported on Friday that the Military Human Rights Center held an emergency press conference at its office in Mapo district, Seoul in the morning, following the instructions of superiors, commanders The squadron commander's superiors could convene an emergency press conference before the 8th. The Military Human Rights Center emphasized that this was Yoon Seok-yue's Sign that martial law would be reintroduced. South Korean President Yoon Seok-yue suddenly declared martial law on the evening of December 3, with the reason of eliminating pro-North Korean forces and protecting constitutional order. The South Korean National Assembly voted late at night to pass a resolution to "remove martial law", and Yoon Seok-yue finally announced that he would "remove martial law". However, there are rumors that senior South Korean military officials have been asked to be on standby until December 8. This is something the market is eyeing as a sign that Yin Xiyue will declare martial law again. In a headline on Friday, Yonhap news agency quoted the South Korean opposition party as saying lawmakers were on standby after receiving multiple reports of martial law being declared again. Gold is considered a leading haven asset when the market receives risky impacts from geopolitical developments (especially in places closely related to the US). On this trading day, investors will receive the release of the US non-farm payrolls report, which is expected to cause major fluctuations in the gold market. US nonfarm payrolls jobs are expected to increase by 195,000 in November. Gold could rebound stronger on more disappointing jobs data, and come under some pressure ahead of the tabular data Non-farm wages are optimistic. Today (Friday), the United States will release the November nonfarm payrolls report. Surveys expected 200,000 new jobs were added, but only 12,000 jobs were added in October, the lowest increase since December 2020. The US unemployment rate is expected to increase slightly to 4.2% in November, from 4.1% in October. Additionally, average hourly wages in the US are expected to increase 0.3%. month-over-month in November. Annual wage growth will likely slow from 4% to 3.9%. A report released by the US Bureau of Labor Statistics on Tuesday showed that the number of job vacancies in the United States increased again in October and the number of layoffs decreased, indicating market demand for workers are stable. Analysis of technical prospects for OANDA:XAUUSD On the daily chart, after gold fell but fell short of its weekly target of $2,606 – $2,600 sent to readers in the weekly edition, it rose rapidly to retest the 2,644 technical level. USD. Temporarily, gold's recovery does not give it enough conditions to increase in price as the Relative Strength Index is still operating below 50. Along with that, the EMA21 is the closest resistance currently and as long as gold has not broken the price channel, it still has the main trend during this time which is down. Once again gold falls below the 0.618% Fibonacci retracement level which will be the best condition to head towards the weekly target area at 2,606 – 2,600USD. Meanwhile, expectations of a new bearish cycle will be opened once gold falls below the original price of 2,600 USD with the target then around 2,591 USD in the short term, more than 2,538 USD. During the day, the technical outlook for gold remains bearish with notable points listed as follows. Support: 2,634 – 2,606 – 2,600USD Resistance: 2,644 – 2,657 – 2,663USD SELL XAUUSD PRICE 2686 - 2684⚡️ ↠↠ Stoploss 2690 →Take Profit 1 2679 ↨ →Take Profit 2 2674 BUY XAUUSD PRICE 2584 - 2586⚡️ ↠↠ Stoploss 2580 →Take Profit 1 2591 ↨ →Take Profit 2 2596
OANDA:XAUUSDShort
by Xayah_trading
XAUUSD (1h) buy signal inside a Rectangle.Gold is neutral on the (1h) timeframe, trading sideways inside a Rectangle (Resistance 1 and Support 1). The price almost hit Support (1) for the 3rd time since Nov 26th and is a technical buy signal. Each of those times it rose to at least the 0.618 Fibonacci level. Trading Plan: 1. Buy on the current market price. Targets: 1. 2649 (the 0.618 Fibonacci retracement level). Tips: 1. The RSI (1h) almost turned oversold (below 30.00). The previous two times that happened, it was a technical buy signal as well. Please like, follow and comment!! Notes: Past trading plan:
FX_IDC:XAUUSDLong
by TradingBrokersView
GOLD → Consolidation before a strong movement. But where to?FX:XAUUSD continues to consolidate and we have questionable preconditions that indicate both a possible fall (fundamental background) and growth (technical background). Gold is holding back after Fed Chairman Powell's speech: The US economy is in remarkably good shape.We are moving very quickly with rates. "I am very pleased with where monetary policy is right now" Unemployment is still very low and progress is being made in fighting inflation The focus remains on the jobless claims data and NFP at this time Technically, the focus is on consolidation in a locally rising channel format. A price exit from the channel in either direction may be accompanied by a strong impulse. Resistance levels: 2655, 2660, 2688 Support levels: 2636, 2620, 2605 Two scenarios due to mixed and stalemate situation: black: Powell commented on the situation as strong enough for the US market, accordingly, gold is forming a consolidation in a flag format, which is technically a pattern for a continuation of the fall. blue: On D1 there are prerequisites for local growth. If the price breaks 2655, then 2660, the growth may continue to the zone of interest 2688. Rate, share your opinion and questions, let's discuss what's going on with ★ FX:XAUUSD ;) Regards R. Linda!
FX:XAUUSDShort
by RLinda
15
Prolonged accumulation, GOLD may need impact from NFP dataOn the Asian market on Thursday (December 5), OANDA:XAUUSD Spot delivery maintained a moderate decrease during the day, gold prices are currently down to about 2,645 USD/ounce as of the time this article was completed. In terms of economic data on Wednesday, data from the ADP Research Institute and the Stanford Digital Economy Lab showed that the number of private sector jobs in the United States increased by 146,000 in November, less than expected. This number is expected to be 163,000. The ADP report shows mixed job growth across industries. The education, health care and construction sectors led the gains, while manufacturing employment had its biggest decline in more than a year. Hiring is also lower in the financial services and entertainment industries, according to data from the ADP Research Institute. Federal Reserve Chairman Powell participated in an exclusive interview with the "DealBook Summit" hosted by the New York Times on Wednesday. On monetary policy, he said at the meeting that policymakers may remain cautious about cutting interest rates further. Regarding the US economy, Powell said the current situation is "very good" with falling inflation and relatively low unemployment. Powell noted that the US economy was stronger than expected in September, allowing the Fed to be more cautious in cutting interest rates. Powell said that although inflation has not yet fully returned to the Fed's 2% target, there is no reason the economy cannot continue to grow. New news of a ceasefire in the Middle East has affected the safe-haven asset OANDA:XAUUSD Israel has made a new proposal to Hamas regarding a ceasefire in Gaza, including a request to release some of the remaining 100 people detained by Hamas, Axios News reported this morning (Thursday). Israeli officials say Israel hopes the killing of Hamas leader Yahya Sinwar, a ceasefire in Lebanon and pressure from US President-elect Donald Trump will create an opportunity to resume negotiations that have been deadlocked for three months. recently. According to the report, Israeli officials revealed that the updated agreement framework mentioned above was reached after a meeting between Israeli Prime Minister Netanyahu and several senior ministers and heads of security agencies on the 1st of this month. . The new plan is similar to the principles discussed previously, but has some adjustments and is subject to adjustment and negotiation. Israeli officials say Hamas has shown more flexibility and begun implementing parts of the agreement. There are still 100 hostages being held in Gaza, including 7 Americans. The Israel Defense Forces believe that between 40 and 50 hostages are still alive. Gold is a risk-on haven asset, so if the market has less risk of conflict or geopolitical tensions it will become less attractive. Next event The next big event will be the November US nonfarm payrolls report on Friday. Surveys show US nonfarm payroll employment is expected to increase by 214,000 in November, up from 12,000 in October. Analysis of technical prospects for OANDA:XAUUSD On the daily chart, the accumulation phase of gold prices continues to last with increasingly narrower amplitudes without any sudden waves to create a short-term trend. With the current position, it is difficult to distinguish which possibility gold is leaning more towards compared to yesterday's trading day. With price activity moving around the EMA21 and Fibonacci retracement levels of 0.618% and the technical point of 2,644USD. On the other hand, the Relative Strength Index is also at 50, not going above or below this level. Taken together with the current position, gold is still neutral in the medium and short term. Meanwhile, a short-term bearish cycle has the opportunity to open if gold is sold below the 0.618% Fibonacci level then the target level is about 2,606 USD in the short term, more than 2,600 USD. During the day, gold is currently in a neutral position, but in the long term, the falling price channel is still the main trend and notable points will be listed as follows. Support: 2,634 – 2,606 – 2,600USD Resistance: 2,663USD SELL XAUUSD PRICE 2681 - 2679⚡️ ↠↠ Stoploss 2685 →Take Profit 1 2674 ↨ →Take Profit 2 2669 BUY XAUUSD PRICE 2599 - 2601⚡️ ↠↠ Stoploss 2595 →Take Profit 1 2606 ↨ →Take Profit 2 2611
OANDA:XAUUSD
by Xayah_trading
GOLD → Consolidation. Which way will the momentum go?FX:XAUUSD in consolidation phase. The market is nervous because of misunderstanding of further actions in anticipation of news. What to expect and what can happen? The US labor market is stronger than expected, but the dollar remained cold amid expectations of more important news. At the moment, there is a 75% chance of a 0.25% interest rate cut. But, the dollar is still in demand due to the unstable geopolitical background. At the moment gold depends on the US employment data, ADP and Powell's speech Bad employment data may increase the probability of further Fed rate cuts in 2025. And vice versa. But, this background is unlikely to create a medium-term potential for gold..... Also, in the perspective of NFP... Technically, gold is in consolidation and the price exit from the flag boundaries may be accompanied by a strong impulse. The probability of a further fall is a little higher... Resistance levels: 2651, 2660 Support levels: 2636, 2618 Gold continues to test the support 2636, which only increases the probability of a breakdown and further fall. But on the background of the news, the price may test the resistance before a further fall Rate, share your opinion and questions, let's discuss what's going on with ★ FX:XAUUSD ;) Regards R. Linda!
FX:XAUUSDShort
by RLinda
3
GOLD is stable, trading day with lots of big data and eventsOn the Asian market on Wednesday (December 4), OANDA:XAUUSD Spot delivery is basically stable, gold price is currently around 2,644 USD/ounce. In New York trading on Tuesday, gold hit a daily high as South Korea's martial law boosted safe-haven demand. South Korean President Yoon Seok-yue gave an emergency speech at the Yongsan Presidential Office in Seoul on Tuesday evening local time and issued an emergency martial law order. After this news arrived, spot gold soared to 2,655.64 USD/ounce. Gold prices then gave up gains when South Korean President Yoon Seok-yue announced the lifting of martial law. As of the end of Tuesday, spot gold increased 0.2%, closing at 2,643.38 USD/ounce. On this trading day, there are multiple event risks in the US, including the ADP employment report, ISM services PMI, Federal Reserve Begie Book and Federal Reserve Chairman Powell's speech . Among them, the ADP jobs report and Powell's speech attracted the most attention. Today (Wednesday), US ADP employment change data for November will be released. This data is known as “small non-farm” and is expected to create a significant impact in the market. Surveys show that US ADP employment is expected to increase by 150,000 in November. Previously, US ADP employment increased by 233,000 in October. On the same day, the US ISM non-manufacturing purchasing managers index (PMI) for November will be published and is expected to be 55.5. Fed President St. Louis Mussallem will give a speech. On Thursday, the Federal Reserve will release Begie Bôk on economic conditions. On Thursday, Federal Reserve Chairman Powell will be invited for an interview at the DealBook/Summit conference hosted by the New York Times. In his final speech in November, Powell said the Fed was in no rush to cut interest rates, citing a solid job market and inflation remaining above its 2% target. Analysis of technical prospects for OANDA:XAUUSD On the daily chart, gold is still in a state of prolonged accumulation with price activity mainly sticking around the 21-day moving average (EMA21) and the technical point of 2,644USD. Although gold has recovered after the previous decline, the overall picture is still inclined to decrease in price with the main trend from the price channel, on the other hand, pressure is still created from EMA21 along with activity. of the Relative Strength Index RSI remains below 50. These factors provide gold with conditions for a bearish trend. As long as gold remains within the price channel, its technical outlook remains tilted to the downside and rallies should be considered short-term recoveries. On the other hand, if gold is sold below the 0.618% Fibonacci retracement level it will likely continue to decline to a subsequent target of around $2,606 – $2,600. In addition, a new bearish cycle will be opened once gold is sold below the original price of 2,600 USD. During the day, the bearish technical outlook for gold will be noticed by the following points. Support: 2,634 – 2,606 – 2,600USD Resistance: 2,663USD SELL XAUUSD PRICE 2681 - 2679⚡️ ↠↠ Stoploss 2685 →Take Profit 1 2674 ↨ →Take Profit 2 2669 BUY XAUUSD PRICE 2599 - 2601⚡️ ↠↠ Stoploss 2595 →Take Profit 1 2606 ↨ →Take Profit 2 2611
OANDA:XAUUSD
by Xayah_trading
XAUUSD: Neutral on 1D but expecting a bullish breakout soon.Gold is neutral on its 1D technical outlook (RSI = 49.080, MACD = -4.570, ADX = 25.048) as the price is ranged between the 1D MA50 and 1D MA100, on the lower band of the 7 month Channel Up. This suggests that there is significant upside potential to Gold on the medium term and the flat 1D MACD indicates high degree of similarity with June 2024 when the price was again ranged between the 1D MA50 and the bottom of the Channel. All bullish waves that started after lows, reached at least the previosu R1 level and that is our current target (TP = 2,790). ## 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
3
GOLD → Consolidation. One step away from distribution...FX:XAUUSD is faltering a bit due to high risks before the news. In the moment a strong impulse can be formed. The price is consolidating in the local range. Earlier, the price broke the local upward support.... Traders are consolidating in anticipation of economic data. Volatility is decreasing, speculators are not ready to take risks yet, all attention is focused on PMI, Powell's speech on Thursday and NFP on Friday... A rebound in US dollar demand early Tuesday kept gold buyers on the back foot. China's ongoing economic problems and the threat of global tariffs from Trump, geopolitical tensions in eastern Europe and escalating conflict in the Middle East continue to weigh on investor sentiment. The future direction of the gold price is likely to depend on upcoming employment data and its impact on expectations of a Fed rate cut Resistance levels: 2660, 2655 Support levels: 2634, 2618, 2605 Since there is no even direction on the market and the price is inside the channel, we will consider trading from its borders. Therefore, a false break of the key resistance may provoke a fall to the support of the range. Rate, share your opinion and questions, let's discuss what's going on with ★ FX:XAUUSD ;) Regards R. Linda!
FX:XAUUSDShort
by RLinda
18
GOLD traded steadily, notable events and data during the dayOn the Asian market on Tuesday (December 3), OANDA:XAUUSD Spot delivery is basically stable, gold price is currently around 2,640 USD/ounce. Notable economic data and events on this trading day 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 7.51 million JOLT vacancies in the United States in October, compared with 7.443 million in September, the lowest level since the beginning of 2021. 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. Gold traders will also be watching for speeches by Federal Reserve officials. On Wednesday, Fed Governor Coogler will give a speech on the labor market and monetary policy. Chicago Fed President Goolsby will give a speech. More information Trump urged BRICS countries not to try to replace the dollar and threatened to impose 100% tariffs if they did not comply. Trump's comments raised concerns that US interest rates will remain high for a long time and this will not be beneficial for non-yielding gold. Analysis of technical prospects for OANDA:XAUUSD On the daily chart, there are almost no structural changes as gold is still maintaining very modest price activity due to the lack of fundamental breakthroughs. In terms of factors, gold is facing more pressure with the nearest horizontal resistance at 2,644 USD along with the 21-day Moving Average (EMA21), in addition, the main trend currently dominating is the downward trend. by price channel. In the short term, if gold is sold below the 0.618% Fibonacci level, it will have conditions to decrease further with a subsequent target of around 2,606 - 2,600USD, which means the nearest support in the short term is also the 0.618 Fibonacci level. % price point 2,634USD. The relative strength index is still operating below the 50 level, although it is mostly moving sideways but this should also be considered a negative technical signal. During the day, the technical outlook leans towards the possibility of price decline with notable points listed as follows. Support: 2,634 – 2,606 – 2,600USD Resistance: 2,644 – 2,663USD SELL XAUUSD PRICE 2661 - 2659⚡️ ↠↠ Stoploss 2665 →Take Profit 1 2654 ↨ →Take Profit 2 2649 BUY XAUUSD PRICE 2579 - 2581⚡️ ↠↠ Stoploss 2575 →Take Profit 1 2586 ↨ →Take Profit 2 2591
OANDA:XAUUSDShort
by Xayah_trading
2
GOLD's recovery is limited, pay attention to this week's dataOANDA:XAUUSD remained stable above 2,600 USD last week, mainly supported by rising geopolitical tensions, but after Donald Trump won the US Presidential election, gold was still under pressure to restrain the possibility of price increases in terms of price. Basically because the USD will be supported by Trump's victory. Regarding gold's latest recovery, after US personal consumption expenditure (PCE) data released earlier this week was in line with expectations, market expectations of an interest rate cut in May 12 by the Federal Reserve increased, pushing gold prices higher. Currently, the market is pricing in a roughly 66% probability that the Fed will cut interest rates by 25 basis points in December, a significant increase from more than 50% a week ago. Geopolitical tensions in Europe caused by Russia's missile attack on Ukraine also provided support for safe-haven assets such as gold. The Israeli military said its air force on Thursday attacked a facility in southern Lebanon used by Hezbollah to store medium-range missiles, as the two sides accused each other of violating a ceasefire despite the agreement. previous agreement. Russia on Thursday launched its second major attack this month on Ukraine's energy infrastructure, causing widespread power outages in the country. Gold is often seen as a safe investment during times of economic and geopolitical instability. Gold prices have fallen about 3% this month and hit a two-month low on November 14. This is mainly because the US Dollar has strengthened since Trump was elected and his tariff policies are believed to be likely to push up inflation, thereby slowing down the cycle of US interest rate cuts. Federal Reserve. This week the US will release key economic data including job vacancies, the ADP jobs report and the nonfarm payrolls report, which could provide guidance on the Fed's policy outlook. Economic data to watch out for this week Monday: ISM manufacturing PMI Wednesday: ADP Working Data, ISM Services PMI, Federal Reserve Chairman Jerome Powell will participate in a panel discussion at the New York Times DealBook Summit Wednesday Thursday: Claim weekly unemployment assistance Friday: US nonfarm payrolls report, preliminary University of Michigan consumer sentiment Analysis of technical prospects for OANDA:XAUUSD Gold is trying to recover but is still limited by the 0.50% Fibonacci level and EMA21. Note to readers in yesterday's edition. In terms of overall structure, gold is still inclined to a bearish outlook with the main trend from the price channel, main resistance from EMA21, while the Relative Strength Index has not yet been able to surpass 50. Because So in terms of trends and dynamics, gold still has the prospect of decreasing in price more than increasing. As long as gold remains within the price channel, it does not technically have enough room for a long-term rally, so rallies should only be considered short-term rallies. In the immediate future, if gold falls below the 0.618% Fibonacci retracement level, the next downside target will be noticed at around the original price of 2,600 USD. In summary, the technical outlook on the daily chart of gold prices leans to the downside with notable highlights listed as follows. Support: 2,606 – 2,600USD Resistance: 2,663 – 2,693USD SELL XAUUSD PRICE 2651 - 2649⚡️ ↠↠ Stoploss 2655 →Take Profit 1 2644 ↨ →Take Profit 2 2639 BUY XAUUSD PRICE 2579 - 2581⚡️ ↠↠ Stoploss 2575 →Take Profit 1 2586 ↨ →Take Profit 2 2591
OANDA:XAUUSDShort
by Xayah_trading
1
XAUUSD Bull Flag to break into a new Channel Up High.Gold / XAUUSD is trading inside a Channel Up since November 25th on the 1hour chart. At the moment it is on a Bull Flag, which was part of both prior bullish waves. The 1hour RSI just crossed under its MA and on the next lower low, the price should have already bottomed. Buy and target 2669, which is the 1.618 Fibonacci extension (the last Higher High of the pattern). Previous chart: Follow us, like the idea and leave a comment below!!
FX_IDC:XAUUSDLong
by TheCryptagon
GOLD → The bears are gaining weight. Resistance retestFX:XAUUSD is declining after a false break of the resistance of the range. The fundamental background is mixed and does not yet allow to form a clear medium and long term strategy, BUT! ... Trump's policies create new risks. Before taking office, he has already signaled the growth of tariffs for the whole world (Canada, Mexico, Europe, China, BRICS countries). The growth of geopolitical risks also affects the price of metal. On the background of the dollar growth and expected reduction of interest rates by the Fed, gold is declining and confirms the bearish structure of the market. The markets' attention is focused on the ISM manufacturing PMI index in the US. Data from the US Technically, the price is breaking the ascending support line as well as the 2636 zone, indicating a dominant bearish sentiment. A correction is forming and we should pay attention to the key resistance, liquidity and imbalance zones Resistance Levels: 2636, 0.5-0.7 Fibo, 2650 Support levels: 2622, 2618, 2605 A retest of the previously broken structure and zone of interest is forming. False breakout of 0.5-0.7 fibo (retest) can provoke active selling on the background of the newly growing dollar. But, globally, gold is still in a sideways range without a clear trend direction... Rate, share your opinion and questions, let's discuss what's going on with ★ FX:XAUUSD ;) Regards R. Linda!
FX:XAUUSDShort
by RLinda
12
XAUUSD Still a great long-term buy opportunity targeting +$3000Gold (XAUUSD) has been following our Bull Cycle projection since 4 months back (August 05, see chart below) having risen an incredible +15%, from 2424 to almost 2800: As you can see by the chart we constructed back then, despite the recent correction in November, the yellow metal is still a buy opportunity as this was only a technical pull-back based on our Bear - Bull Cycle model. We have first come up with this technical pattern on April 04 2024 and the basis was the similarities (so far) of the July 2016 - August 2020 Bear-to-Bull Cycle with the Bear Cycle that followed the August 2020 Top and so far the current Bull Cycle. As you can see, once the 1W MA50 (blue trend-line) turned to a Support at the end of the Bear Cycle, it held up until the Bull Cycle's Top and every pull-back was a buy opportunity. More specifically, the current November correction looks very similar to the COVID flash crash on March 2020 that touched the 1W MA50 and immediately rebounded. The key pattern here lies on the 1W RSI. As you see, once that broke above the 70.00 overbought barrier, while Gold was on the Bull Cycle's Channel Up, it started to decline inside a Channel Down. That technical Bearish Divergence (RSI Channel Down against Gold's Channel Up) affected the price on the 3rd top (Lower High), which was the Cycle's peak. Right now it appears that the 1W RSI has (or is near) bottomed and is staring that final Bullish Leg to the Lower High that will form Gold's new Bull Cycle Top. Technically this should be after April 2025 and if it is formed again upon the completion of a +85.42% rally from the Bear Cycle's first bottom and at most the 3.0 Fibonacci extension, then we are still expecting a $3100 target. ------------------------------------------------------------------------------- ** 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
Oil focus on EIA data and OPEC+ meetingTVC:USOIL increased slightly during the Asian trading session on Monday (December 2), trading around 68.30 USD/barrel. Market volatility has continued to decrease and we need to wait for new changes in fundamental factors to shape the short-term trend. This week we will focus on EIA inventory data and the OPEC+ meeting. At the same time, this week will release US non-farm data. If non-farm data continues to strengthen, it will continue to put pressure on the Federal Reserve to cut interest rates, which will be detrimental to rising oil prices. Last week, as the geopolitical situation eased, pressure on the supply side eased and the market is now expecting that this OPEC+ meeting is expected to be postponed and increased production will support oil prices. On the geopolitical side, there are no significant new points. Lebanon's official news agency said on Friday that four Israeli tanks had entered Lebanese border villages. The ceasefire, which took effect last Wednesday, has reduced oil's hedging premium and sent oil prices tumbling despite accusations of ceasefire violations between the two sides. Although there are still many potential risks, the conflict in the Middle East has not disrupted oil supplies and oil supplies are expected to be more abundant in 2025. The International Energy Agency believes that there is a surplus of supply. is expected to exceed 1 million barrels/day, equivalent to more than 1% of global production. OPEC+ is expected to decide to continue extending production cuts at the upcoming meeting. With stagnant demand and oversupply, OPEC will face an uphill battle if it wants to push up oil prices. On the daily chart, TVC:USOIL The main long-term trend is still down with the price channel as the main trend, pressure from EMA21 and horizontal resistance levels around the 0.236% Fibonacci retracement point sent to readers in previous publications. . In the short term, WTI crude oil has enough room to continue falling with a target of around 66.44USD in the short term, more than 65.28USD. Meanwhile, the Relative Strength Index is also maintaining activity below or around the 50 level, which is considered a bearish signal with the target being the oversold area. As long as WTI crude oil remains at EMA21, it still has a bearish short-term technical outlook, and the trend from the price channel continues to trend in the long term. In the current daily chart, WTI crude oil has a downward trend with notable points listed as follows. Support: 66.44 – 65.28USD Resistance: 69.51 – 70.54USD
TVC:USOILShort
by Xayah_trading
GOLD MARKET ANALYSIS AND COMMENTARY - [Dec 02 - Dec 06]This week, international OANDA:XAUUSD fell quite sharply from 2,721 USD/oz to 2,605 USD/oz, then increased slightly and closed the week at 2,650 USD/oz. The reason why gold prices dropped sharply in the early sessions of this week was because President-elect Donald Trump nominated Mr. Scott Bessent, a traditional Wall Street financier, to hold the position of the US Treasury. The market expects Mr. Bessent to contribute to stabilizing the US economy and increasing the strength of the USD. Besides, a ceasefire between Israel and Lebanon, announced earlier this week, also eased worries about geopolitical tensions, reducing the appeal of gold as a safe haven. In particular, Mr. Trump threatened to impose a 25% tax on Mexican and Canadian goods imported into the US and proposed imposing a 10% tax on all products from China, also increasing concerns about a tariff war. , causing the FED to delay reducing interest rates, or even increase interest rates again. In addition, the US Personal Consumption Expenditure Index (PCE) in November still increased by 2.8% over the same period last year, higher than forecast and much higher than the FED's target of 2%. This may make the FED more cautious in continuing to cut interest rates in the short term. Many people believe that the gold market will have some unpredictable fluctuations in the near future as it continuously reacts to Mr. Trump's comments before his inauguration. In the short term, gold prices next week will continue to be dominated by statements posted on social networks by Mr. Trump. In addition, the market will focus on important US economic data, such as manufacturing and service PMI index; Employment indexes: ADP, NFP, unemployment rate... If US employment figures, especially NFP, increase stronger than expected, it may cause the FED to delay cutting interest rates at the December meeting. coming, causing gold prices to come under pressure to adjust next week. On the contrary, if US employment figures continue to decline sharply, it will cause the FED to continue cutting interest rates, thereby positively supporting gold prices next week. 📌Technically, on the H4 chart, gold price may still fluctuate between 2,500 - 2,750 USD/oz. Notable technical levels are listed below. Support: 2,600 – 2,606 – 2,634USD Resistance: 2,693 – 2,663USD SELL XAUUSD PRICE 2751 - 2749⚡️ ↠↠ Stoploss 2755 BUY XAUUSD PRICE 2539 - 2541⚡️ ↠↠ Stoploss 2535
OANDA:XAUUSD
by Xayah_trading
GOLD increased thanks to the weakening of the USDOANDA:XAUUSD rose, boosted by the weakening of the USD and safe-haven demand due to concerns about persistent geopolitical tensions. Despite recovering in the final trading session of the week, gold still recorded its worst month of performance since September 2023. The US Dollar Index fell to its lowest in more than two weeks, but was still up 2% in November as Republican Donald Trump's victory earlier this month boosted expectations of big fiscal spending. , higher tariffs and tighter borders. This month, gold prices have fallen more than 3%, the worst monthly decline since September last year. After Mr. Trump's victory, the USD continuously increased in price and triggered a strong sell-off in the gold market. OANDA:XAUUSD forecast Geopolitical instability is still increasing, gold prices may still increase in the near future. Gold is often considered a safe investment in times of economic and geopolitical instability such as trade tensions or conflict. The new administration's policies in the US can impact economies, causing the central bank to increase gold reserves. This prompted a sharp increase in gold trading by central banks. This is the group that bought the most gold on the market recently. BCA Research recommends buying gold when prices fall due to long-term prospects. Gold is a commodity that benefits from the policies of the new administration in the US. Increased global policy uncertainty will support gold buying demand.
OANDA:XAUUSD
by Xayah_trading
GOLD → Interest in metal is growingFX:XAUUSD on the background of support from the dollar correction updates local maximums and aspires to the liquidity zone. Reduced liquidity due to the holiday weekend in the West also plays its role on the markets Gold holds within the boundaries of the local ascending channel on the background of restrained dynamics of the US dollar, mainly due to the data on inflation... Dovish sentiment regarding further Fed policy actions continues to support the gold price, which is not a subject of interest. There is growing interest in gold as a hedge asset on the back of the exalized conflict in Syria, as well as in Eastern Europe. Technically, the emphasis is on the channel borders, as well as on the resistance of 2677 and 2690. A sharp approach of the price to these zones may provoke a pullback. Resistance levels: 2667, 2677, 2690 Support levels: 2660, 2654 If the bears hold 2660, the gold may correct to the channel support. But at the moment the price is heading towards the resistance. Keep an eye on these levels! Regards R. Linda!
FX:XAUUSDLong
by RLinda
8
Geopolitical risks pushed GOLD to increase rapidly in the short In the early trading session on Asian markets on Friday (November 29), OANDA:XAUUSD Spot rose suddenly and rapidly from the intraday low of $2,633 and headed into a key technical position for technical downside expectations. Impacted by escalating tensions in Ukraine. Russia launches joint attack, Putin "speaks tough" While Israel and Lebanon have reached a 60-day ceasefire agreement, this will essentially create pressure on gold as market risks become less. However, the escalation in the Russia-Ukraine conflict may continue to keep gold prices stable above 2,600 USD/ounce in the near future. The latest Reuters report on Friday said that Russian President Vladimir Putin on Thursday local time said Russia could use the new "Hazel" hypersonic missile to attack Kiev in response to Ukraine's missile launch. Western fire penetrated deep into Russian territory. So far in the 33-month war, Russia has not yet attacked Ukrainian ministries, government agencies, parliament or the presidential office. Putin said on Thursday that Russia's large-scale attack on Ukraine was a "response" to Ukraine's use of Western missile systems to attack Russian territory. Earlier in the day, Ukraine reported that energy facilities across Ukraine were being attacked by Russian armed forces. Ukraine's Air Force said Thursday that Russia launched a joint attack on Ukraine using missiles and drones starting early that morning. Most regions in Western Ukraine are under attack, especially Ternopil, Lviv, Lutsk, Vinnitsa, Khmelnytsky and others. Ukrainian President Zelensky said on the social platform on Thursday that he had a conversation with the Air Force commander, the Minister of Internal Affairs and the Minister of Energy that day about the Russian attack. Mr. Zelensky said that the target of Russia's attack this time is Ukraine's energy infrastructure. Russia launched about 100 attack drones and more than 90 missiles of all types. In the current market context, traders need to pay attention to geopolitical conflicts, their escalation or reduction will have a sudden impact on gold in the short term. Analysis of technical prospects for OANDA:XAUUSD Gold recovered from the 0.618% Fibonacci retracement level but is temporarily limited by the 0.50% Fibonacci retracement level and the EMA21 moving average. In the short term, Gold can still decrease in price as long as it has not broken the medium-term trend price channel. In the immediate future, gold does not have enough conditions to increase in price in the short term, but a drop below the 0.618% Fibonacci retracement level will cause gold to fall further with the goal of reaching the original price point of 2,600 USD. However, geopolitical risks are dominating the market, so any purely technical structure could be broken quite easily during this time. The $2,693 level will be the next target in case the 0.50% Fibonacci level is broken above. The market is very volatile in the short term, so long-term open positions will be less effective, and notable technical levels for the medium-term bearish outlook from the price channel on the daily chart will be seen. noticed again as follows. Support: 2,644 – 2,634USD Resistance: 2,663 – 2,693USD SELL XAUUSD PRICE 2686 - 2684⚡️ ↠↠ Stoploss 2690 →Take Profit 1 2679 ↨ →Take Profit 2 2674 BUY XAUUSD PRICE 2579 - 2581⚡️ ↠↠ Stoploss 2575 →Take Profit 1 2586 ↨ →Take Profit 2 2591
OANDA:XAUUSD
by Xayah_trading
GOLD → Trading inside the channel from the range boundariesFX:XAUUSD declines to 2620 amid positive news from the Middle East, but the overall fundamental background is still difficult. Today is low liquidity due to the Thanksgiving holiday in the US. The gold price is down amid a ceasefire between Israel and Hezbollah on Wednesday. But on Wednesday night there were reports of an escalation of conflict in Aleppo, Syria .... Also not to forget the escalated conflict in Eastern Europe. The dollar is still in consolidation, given that today is a holiday in the U.S., there may be low liquidity and high volatility in the market. Accordingly, an exaggerated price movement in gold cannot be ruled out. Technically, gold is flat, so we consider trading from the range boundaries. We focus on the local channel from H1 2660 - 2618 and the global channel from D1 - 2689 (2710) - 2605. Resistance levels: 2660, 2604, 2678, 2689 Support levels: 2618, 2605 Accordingly, in the momen, gold is heading towards the liquidity above. False breakdown of the key resistance zone and price consolidation in the selling zone may form a price decline to the lower boundary of the flat. Rate, share your opinion and questions, let's discuss what's going on with ★ FX:XAUUSD ;) Regards R. Linda!
FX:XAUUSDShort
by RLinda
10
GOLD → Controversial fundamental background. What's next?FX:XAUUSD is taking advantage of the dollar weakness and heading towards the zones of interest and liquidity 2665 - 2688. Overall, the fundamental backdrop is not stable, but at the same time weak for gold. PCE, GDP and resistance ahead.... The ceasefire agreement between Lebanon and Israel has entered into force. This has helped to reduce demand for the US dollar, which is generally reflected in the forex market. Gold is feeling support from sustained expectations for the Fed and uncertainty over the outlook for global trade during the Trump presidency, which intends to impose new tariffs on Canada, China and Mexico. Ahead of the upcoming macroeconomic news from the US are PCE and GDP. Technically, gold is in a sideways range and is looking up towards zones of interest from which a correction could form. But this reaction is partly dependent on the news as well.... Resistance levels: 2660, 2664, 2680 Support levels: 2620, 2605 The focus is on the imbalance zone, 0.7 fibo and 2680 area. Due to the controversial technical and fundamental background, the gold price may close inside a wide channel, which allows us to use its boundaries for trading. We are watching the resistance with a sell target for further downside Rate, share your opinion and questions, let's discuss what's going on with ★ FX:XAUUSD ;) Regards R. Linda!
FX:XAUUSDShort
by RLinda
20
GOLD fell rapidly in the short term, pressured by US dataIn the early trading session in Asian markets on Thursday (November 28), OANDA:XAUUSD Spot delivery suddenly dropped sharply in the short term, currently trading around 2,629 USD/ounce. Gold prices gave up much of their earlier recovery gains after data showed inflation progress was stalling, as the data could make the Federal Reserve cautious about cutting interest rates further. According to Wednesday's economic data, US durable goods orders rose 0.2% month-on-month in October. While it did not meet expectations of 0.5%, it was an improvement. improved compared to a decrease of 0.4% in September. The number of people applying for unemployment benefits in the US in the week of November 23 remained stable at 213,000, lower than the expected level of 217,000. The real (quarterly annually adjusted) rate of gross domestic product (GDP) in the United States in the third quarter was unchanged from its baseline value, at 2.8%, and growth slowed from 3% in the second quarter. But the GDP report still shows that the US economy still has good resilience. GDP growth has exceeded 2% in eight of the past nine quarters. A report released by the US Department of Commerce showed that the Fed's favorite inflation index rebounded in October compared to September. The data supports Fed officials taking a more cautious stance in recent times. next interest rate cut. The Fed's favorite measure of inflation, the core personal consumption expenditures (PCE) price index that excludes volatile food and energy, rose 2.8% year-on-year in October, a highest since April this year compared to September, up 2.7%. Additionally, the core PCE price index increased 0.3% month-over-month in October, in line with expectations. The PCE price index increased 0.2% month-over-month and 2.3% year-on-year in October, both in line with the forecasts of analysts surveyed by Dow Jones. The PCE index's annual increase in October was higher than September's 2.1% gain. Wednesday's data showed that U.S. personal income rose 0.6% month-on-month in October, significantly better than the expected increase of 0.3%. Minutes of the Federal Reserve's November monetary policy meeting released Tuesday showed that although Fed officials said they expected to continue cutting interest rates in the future, they said the pace Interest rate cuts will take place “gradually”. The gold market fluctuated strongly this week. As Israel and Iran-backed Hezbollah in Lebanon declared a ceasefire, reducing demand for safe havens, gold suffered its biggest one-day drop in more than five months on Monday and prices fell to a low. most since November 18 on Tuesday. Analysis of technical prospects for OANDA:XAUUSD On the daily chart, gold continues to maintain its main bearish trend after approaching and coming under pressure from the 21-day moving average (EMA21). The drop below the 0.618% Fibonacci retracement is a good signal for bearish expectations as the target behind that is at the levels of 2,606 – 2,600USD. Note to readers in the previous issue. On the other hand, the Relative Strength Index is flat below 50, if it is pointing down this can be considered a good signal for a downtrend. As long as gold remains below the EMA21 and within the price channel, it will remain bearish in the near term and price rallies should only be considered short-term recoveries without changing the current primary trend. During the day, the technical outlook for gold is bearish with notable points listed as follows. Support: 2,606 – 2,600USD Resistance: 2,634 – 2,644USD SELL XAUUSD PRICE 2686 - 2684⚡️ ↠↠ Stoploss 2690 →Take Profit 1 2679 ↨ →Take Profit 2 2674 BUY XAUUSD PRICE 2579 - 2581⚡️ ↠↠ Stoploss 2575 →Take Profit 1 2586 ↨ →Take Profit 2 2591
OANDA:XAUUSD
by Xayah_trading
1