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GC1! (Gold Futures)

GOLD → Correction Phase. How long will it last?FOREXCOM:XAUUSD is weakening on the background of growing TVC:DXY . At the moment, fundamental and technical indicators are diverging and the market is trying to collect maximum liquidity before further growth. On D1 we see the formation of a false breakdown of resistance 2075. The market is in global consolidation, but locally we have a downtrend forming. Technically, the price may test the local trend support, while the dollar seeks to test the resistance. Within the downtrend range, gold may bounce from support to resistance. This range formation is likely to continue until the end of the week. Support levels: 2048, 2030, 2010 Resistance levels: 2058, 2069, 2075 Fundamentally, the dollar has a weak support and should fall. But on the background of low market volumes, the market maker is collecting liquidity. It is likely that the gold may test the far support levels before rising further. Hence, the local bearish correction formation may continue until 2009 in the medium term. Regards R. Linda!
OANDA:XAUUSD
by RLinda
4
XAUUSD: Sell reversal inside the Channel Up.Gold has technically turned neutral on the 4H time-frame (RSI = 47.613, MACD = 2.720, ADX = 30.603) but remains bullish on 1D as it has started the bearish leg of the two month Channel Up. The 4H MA50 broke today for the first time since December 13th and that basically validates this short-term correction. Our target is the S1 level (TP = 2,016) which will make an ideal test of the 1D MA50. See how our prior idea has worked: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
FX_IDC:XAUUSDShort
by InvestingScope
GOLD → The bullish potential is back. December trap FOREXCOM:XAUUSD is starting to catch up with the bullish potential, which was forged at the end of 2023, when we received negative news for $. On D1 we see gold rising on the back of a weakening TVC:DXY . The price breaks through the important and historical resistance 2069 - 2070. A retest and consolidation of price above the level is forming. A price consolidation this week above this level will confirm the intention of the bull market. In this case, we may see a potential target in the form of: 2085, 2100 and even 2150. On H1, the price is updating the local support (false breakout) on the background of bullish news for gold. And this is a logical scenario before further growth. I warned you that before the growth, even on good news, the price can go down. Now it is important for us to see the price consolidation above the mentioned liquidity area. Support levels: 2075, 2070, 2069 Resistance levels: 2079, 2082, 2088, 2100 I expect growth after the price fixation above the mentioned support area. Regards R. Linda!
OANDA:XAUUSDLong
by RLinda
10
GOLD → How will the news affect the price?FOREXCOM:XAUUSD is forming a strong bullish trend, but there are some preconditions on the chart, which in tandem with the news can form an unexpected scenario. Today is the last strong news of the year. Namely, at 13:30 GMT Initial Jobless Claims will be published. Overall, analysts are expecting 210K relative to the previous 205K. This is bad data. But a big role is played by the actual data relative to the expected data. If the data will be higher than expected 210K, the dollar may break the local support and continue its decline, which will strengthen the gold. If the data will be lower than expected 210K, then gold will catch a bearish wave on the back of dollar strength. Technically, we have a bullish trend, with strong support and liquidity area forming in the 2075 - 2069 area. On positive news for XAU the price may test this area and after a false breakdown head upwards. But negative news for XAU will break this area and could send the gold price to 2050 - 2047. Support levels: 2075, 2069.3, rising line Resistance levels: 2080, 2088, 2100. Technically, gold is ready to continue to grow and this will continue in the medium and long term, but locally, the news can unpredictably affect the price COMEX:GC1! COMEX_MINI:MGC1! TVC:DXY Regards R. Linda!
OANDA:XAUUSDLong
by RLinda
15
GOLD moving closer to the threshold of 2,100 USD/ounceToday's world gold price listed on Kitco is at 2,086 USD/ounce, up 20 USD/ounce compared to early yesterday morning. Gold prices continue to rise thanks to the weakening of the USD and falling Treasury bond yields. The USD has continuously decreased in recent sessions. The DXY index (measuring the fluctuation of the USD against a basket of major currencies on the night of December 27, Vietnam time) dropped to 101.3 points. In the past 2 weeks, this index decreased a total of nearly 2.6%. The attraction for international gold thus increased. Investors reflected the expectation that the US would reduce interest rates in 2024 during the recent increase in gold prices. This also means that when the US officially reduces interest rates, it is likely that gold will no longer have much motivation to increase its price strongly.
OANDA:XAUUSD
by Xayah_trading
GOLD → Trading inside the range 2050 - 2075FOREXCOM:XAUUSD has been strengthening since the opening of the session. Friday's sell-offs formed local support at 2050 (retest) after which a new range is likely to be formed. For gold we have a favorable fundamental background, which may have a positive impact on the price. While the TVC:DXY is declining, the gold is testing new highs. As there are a few days left before the New Year holidays, liquidity in the market is decreasing. Against this background, the price may end the trading session within the existing range of 2050 - 2075. I would advise to focus on the range trading strategy. On the chart we can see the key support lines: (rising line, 2055, 2051, 2050). There is a chance that the price may test these lines. The level of 2062, 2069, 2075 plays the role of key resistance. Pay attention to the schedule of your broker, so as not to open trades before the closing of the trading session. The volumes on the market are decreasing and in all likelihood the price may get stuck in the mentioned range. On Thursday, strong news is published, but until that day, gold may trade inside 2075 - 2050. Regards R. Linda!
OANDA:XAUUSD
by RLinda
14
XAUUSD Approaching the cyclical rejection level. Strong Sell.Gold (XAUUSD) hasn't so far diverged from the previous two ATH peak patterns (March 08 2022 and August 07 2020) as following this Cycle's new All Time High, it got heavily sold to the 1D MA50 (blue trend-line), which held and initiated a price rebound. This rebound sequence is now approaching the 0.618 Fibonacci retracement level, which is where the Lower Highs of the previous peak patterns were formed. The price got immediately rejected to at least the previous Low (in our case 1975). In 2022 the sell-off continued immediately, while in 2020 it was more structured and gave another Lower High to sell. As a result, we expect Gold to reverse soon within the 2070 - 2100 range and target at least 1975 by the end of January 2024. ------------------------------------------------------------------------------- ** 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
1
GOLD goes up, USD weakensToday's world gold price listed on Kitco is at 2,067 USD/ounce, up 14 USD/ounce compared to early yesterday morning. Gold prices rose slightly thanks to the weakening of the USD and falling Treasury yields as expectations grew that the US Federal Reserve (Fed) would reduce interest rates next year. A weaker dollar makes gold priced in that currency more attractive to holders of other currencies. However, it is forecast that there will not be any major fluctuations in the precious metals market this week. The main factor supporting gold is still the expectation that central banks will be more dovish in monetary policy and interest rates will decrease in the next few years. Underscoring ongoing geopolitical tensions, it is likely that gold will remain above $2,000/ounce in 2024.
OANDA:XAUUSD
by Xayah_trading
GOLD still retains strategic value in the investment portfolioOn the world market, the world gold price stood at 2,059 USD/ounce, a slight increase of 6 USD/ounce compared to the same hour yesterday morning. The gold market is preparing to end 2023 with strong price increases. The US Federal Reserve (Fed) has signaled that it may cut interest rates three times by 2024. The Fed reduces interest rates, meaning the USD weakens, thereby supporting gold prices. Experts say that despite historical patterns showing mixed performance under different economic scenarios, the 2024 scenario, marked by geopolitical risks and strong central bank demand central, can change the normal trajectory of gold. Gold retains strategic value in investment portfolios, especially during times of economic uncertainty, providing stability and diversification.
OANDA:XAUUSD
by Xayah_trading
GOLD → False breakdown of 2070. Rollback to the end of the year FOREXCOM:XAUUSD strengthened quite actively last week. The price is retesting the resistance at 2069.8 formed in August 2020. There are reasons for further growth, but also reasons for further pullback. Let's see On D1 we can see that in the frame of distributive movement the price tests the resistance 2069.8 and forms a false breakdown, which activates a rather strong sell-off. A few hours before the end of the session the price loses 0.85%. In the coming week there is no news except Initial Jobless Claims , analysts are expecting an increase in claims from 205K to 210K. The GDP data weakens the dollar, the Fed's stance also suggests a possible rate cut next year, and in addition the inflation data . The overall fundamental background is unfavorable for the TVC:DXY and we see a decline in the index, which in the medium term is favorable for the gold market. Technically, there are a few days to go until the end of 2023, volatility and liquidity may decrease, but since Friday ended with a false break of resistance zones (2069.8, 2055), the current correction may last. The price may reach the support area before further growth. It is worth paying attention to the following levels: Resistance: 2055, 2050, 2065, 2069, 2075 Support: 2047, 2040, 2030, 2015 I advise you to study the work schedule of your brokers for Christmas and New Year holidays. Each broker determines its own regulations and therefore on these days some companies may work and others may not. Merry Christmas! Have a great holiday! Regards R. Linda!
OANDA:XAUUSD
by RLinda
6
GOLD the world market adds bullish factorsAt the end of last week, in addition to the US announcing a decline in GDP growth data, the market also received information that the UK's GDP growth also weakened by 0.1% in the third quarter of 2023. The Japanese economy said industrial production output in November is forecast to decrease for the first time in the past three months. Estimates predict that the country's industrial output will decrease by 1.6% compared to October. The expected production contraction in Japan is based on factors such as falling demand and a slowdown in global economic activity. The auto sector, a significant contributor to industrial production lost export momentum in November. The world's second largest economy, China, has a real estate sector that remains gloomy as house prices have fallen the most in the past 8 years. Although the Central Bank of this country has further lowered interest rates to recover the economy, the real estate sector has not shown signs of recovery. Thus, major economies are releasing third quarter economic growth reports and other related data, most of which have declining factors. Poor economic information supports gold prices to increase. Investors are still hoping that gold prices will increase during the New Year and Lunar New Year holidays when shopping demand increases. Today, the American and European markets are entering the Thanksgiving and Christmas holidays. However, Asian markets are still trading normally.
OANDA:XAUUSD
by Xayah_trading
XAUUSD: Bullish Cross on 4H inside the Channel Up.Gold has formed a 4H MA50/100 Bullish Cross, extending the rise of the bullish wave inside the Channel Up pattern. Naturally, the 1D technical outlook has turned bullish (RSI = 61.138, MACD = 13.480, ADX = 42.704) and the price can test the dashed HH trendline on a +6.45% rise like the November 28th High, which was the top before the highly distorted ATH of December 3rd. Our target is a bit lower on the R2 level (TP = 2,090). See how our prior idea has worked: ## 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
GOLD → The price enters a new range of 2050 - 2070FOREXCOM:XAUUSD is breaking through resistances. Yesterday the US GDP was released, which showed weaker data than the market expected and this is favorable for the gold price. In part we were prepared for it. The TVC:DXY is breaking the pattern and retesting key support. High odds are high that the decline and weakening of the index will continue. Hence, it is bullish for gold to overcome the pattern and range resistance. Gold in a bullish move breaks through the limit barrier and consolidates above the mentioned line. Ahead of us today is the news at 13:30 GMT. I don't think they will change anything after the US GDP. Analysts expect the publication of about the same data as last period (with a slight correction). Volatility may increase in the market, be careful during trading. Gold enters a new range of 2050 - 2070, the intermediate target is 2062. Support levels: 2050, 2048 Resistance levels: 2062, 2075 I expect the continuation of growth even after the news, as yesterday's news defined the medium-term potential for the market. Targets are indicated on the chart. A pullback from 2062 to support before further growth is possible. Regards R. Linda!
OANDA:XAUUSDLong
by RLinda
13
GOLD increased slightly thanks to the weakening of USDWorld gold prices increased slightly thanks to the weakening of the greenback when the latest published economic report reinforced expectations that the US Federal Reserve (FED) will cut interest rates in March 2024. Data showed that US Gross Domestic Product (GDP) increased 4.9% in the third quarter, lower than expectations of 5.2% due to weaker consumer spending and imports than estimated, while applications Weekly unemployment benefits increased slightly. The market is expecting the FED to accelerate the process of cutting interest rates. Weaker GDP data caused the USD to fall 0.5%, while US 10-year Treasury yields are fluctuating near a 5-month low, pushing gold prices up. This morning, the USD-Index was at 101.84 points, the 10-year US Treasury bond yield increased to 3.905%, but was still at the lowest level in 5 months.
OANDA:XAUUSD
by Xayah_trading
XAUUSD This is what separates bullish from bearish.Gold is having a Channel Up as the dominant pattern, that only broke upwards during the non-technical candle of December 4th that made the new All Time High. At the moment it's been 6 straight sessions where it has failed to cross over Resistance (1) at 2048.50. Over this level we should expect bullish continuation. Below the MA50 (1d) which has held during both Higher Low formations, we should expect a bearish break out and the emergence of a Channel Down. Trading Plan: 1. Buy if the price crosses and closes above Resistance (1). 2. Sell if it closes below the MA50 (1d). Targets: 1. 2100 (Higher High on a +6.50% rise, like the previous Bullish leg). 2. 1935 (potential bottom of Channel Down and near Support (2)). Tips: 1. The RSI (1d) is basically printing the same sequence as the previous Bullish leg. It has to favor the uptrend. Please like, follow and comment!! Notes: Past trading plan:
FX_IDC:XAUUSD
by TradingBrokersView
GOLD → The market is waiting for news. Falling or rising?FOREXCOM:XAUUSD has been standing still for a few days, as well as the TVC:DXY . The market is waiting for today's news related to GDP and unemployment. What is the difficulty in determining the future direction of the price? Let's start with the fact that since last week the Fed destroyed the adequate price behavior for the medium term. The dollar, based on data, not rumors, should rise, gold should fall, but that is not the case. There is a possibility that this manipulation by the market maker to take more favorable positions before further movement in one direction or another. Today the US GDP and unemployment are published. Analysts expect GDP to remain flat at 5.2% and Initial Jobless Claims to rise from 202K to 214K (a generally bearish scenario for the dollar). If: GDP comes out lower than expected and Initial Jobless Claims higher than expected, the dollar could fall. Accordingly, if GDP rises and unemployment falls, the dollar will probably go up. The movement of the indices will affect the gold accordingly Resistance levels: 2038, 2050 Support levels: 2030, 2020 From the TA + fundamentals point of view, the market is confused, hence a sideways flat, which can be interpreted as neutral forces (obviously). There is a high probability that the dollar could still get stronger. In this case gold may test the resistance before further falling. But news is always unpredictable! Regards R. Linda!
OANDA:XAUUSD
by RLinda
24
GOLD quiet in the early morning trading session this morningWorld gold prices on December 21 turned down with spot gold down 10 USD to 2,030.2 USD/ounce. Gold futures last traded at 2,043.3 USD/ounce, down 8.8 USD compared to yesterday morning. The world gold market was quiet in the early morning trading session this morning as traders waited for a series of economic data at the end of the week to get new clues about the US Central Bank's monetary policy roadmap. The gold price trend is forecast to stabilize above 2,000 USD/ounce and mainly trade at higher levels considering geopolitical risks in the market, including the US election next year, which This could prompt money managers to increase gold in their portfolios. In the near term, gold could trade in a range of $1,950 to $2,150 per ounce, and the precious metal's price movements are driven by macroeconomic data and correlated expectations of a cut. Upcoming US interest rates as well as unexpected geopolitical risks. According to the bank, 2024 could be a positive year for gold amid the macroeconomic outlook as well as significant geopolitical and recessionary risks weighing on the global economy.
OANDA:XAUUSD
by Xayah_trading
GOLD → Consolidation against an unstable background FOREXCOM:XAUUSD continues to consolidate. The market is forming a range after the shakeout, manipulation by the frs, unstable fundamental environment. Let's get to the bottom of what's going on. The price is testing strong resistance on D1, but on the local timeframe both gold and TVC:DXY are in consolidation. Technically, the dollar is showing hints of possible growth, but the important news will be only tomorrow (December 21) and they are expected to be quite unstable. It is difficult to determine the outcome in advance, we will wait for the actual data. Gold is testing the resistance 2048 - 2050, the third retest on D1, but the price does not reach a few tens of points to the maximum. There can be many reasons for this, and one of the serious ones is building a limit barrier due to strong sellers. But again, the price has not yet tested 2050 (no touch). It may happen before a possible rebound. Now there is also a possibility that the market may try to break 2050 and enter the range of 2050 - 2075. We continue to watch this area. Resistance levels: 2048 - 2050 Support levels: 2038, 2030, 2020 From the point of view of range trading strategy, we should expect a fall after retesting the range resistance, as there is no actual trend and on the background of neutrality we can both buy and sell, but inside the range. Regards R. Linda!
OANDA:XAUUSDShort
by RLinda
18
GOLD is at a high levelWorld gold spot price stands around 2,038.3 USD/ounce, up 9.3 USD/ounce compared to last night. Gold futures price for February 2024 on the Comex New York floor is at 2,051 USD/ounce. Today's gold price for spot delivery on the world market stands around 2,029 USD/ounce. Gold delivered in February 2024 on the Comex New York floor is at 2,041 USD/ounce. Gold prices on the world market are at a high level and tend to gradually increase. Meanwhile, the domestic gold price is at a historic peak and may soon set a new record high according to world price movements. World gold increased mainly due to the decrease in the USD. The DXY index - measuring the movement of the USD against a basket of 6 major currencies - decreased slightly to 102.4 points.
OANDA:XAUUSD
by Xayah_trading