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Gold Faces Critical Resistance: Will the Bull Run Continue?Chart Overview Timeframe: 1-hour chart Exchange: OANDA Current Price: 2444.100 Key Levels and Zones 4HR LQZ: 2474.524 1HR LQZ: 2370.122 Support Level: 2348.660 Key Low: 2287.754 Patterns and Channels Descending Channel: The price moved within a descending channel before breaking out. Lower Highs (LH) and Lower Lows (LL) formed within this channel. Ascending Channel: The price moved into an ascending channel after breaking out of the descending channel. Higher Lows (HL) and Higher Highs (HH) are visible, indicating a potential upward trend. Current Price Action Recent Higher High (HH): Price reached a higher high at the top of the ascending channel. Potential Lower High: There is a possibility of forming a new lower high, as indicated by the recent price action near the 4HR LQZ. Rejection at 4HR LQZ: The price touched the 4HR LQZ and showed signs of rejection, pulling back slightly. Inset Chart: DXY The inset chart displays the DXY (US Dollar Index), which shows a descending pattern, potentially indicating USD weakness. This is relevant because gold often inversely correlates with the USD. Market Sentiment Bullish Signs: The breakout from the descending channel. Formation of the ascending channel with higher highs and higher lows. Bearish Signs: Rejection at the 4HR LQZ. Potential formation of a new lower high, indicating possible weakness or a reversal in the uptrend. Summary The XAUUSD chart shows a recent breakout from a descending channel and the formation of an ascending channel, suggesting a short-term bullish trend. However, the price faced rejection at the 4HR LQZ and is showing signs of forming a potential new lower high, which could indicate a reversal or consolidation phase. Monitoring key levels and market sentiment (especially USD movements) will be crucial for future price action.
OANDA:XAUUSD
by Adlercon333
GOLD MARKET ANALYSIS AND COMMENTARY - [29 July - 02 August]This week, the international gold price increased from 2,383 USD/oz to close to 2,432 in the first 2 trading sessions of the week, but then continuously decreased, at one point down to 2,353 USD/oz. After that, gold prices recovered and closed the week at 2,387 USD/oz. Gold prices decreased in the last sessions of this week as investors took profits from profitable positions, because they are still concerned about short-term risks when the Central Bank of China has still temporarily stopped buying gold in the past 2 months. Next week, there are two factors that are likely to have a strong impact on gold prices: the FED's July meeting taking place on Thursday and the US non-farm payrolls (NFP) report being released on Friday. In particular, the FED will definitely keep interest rates at the current level. However, what the market is interested in is whether FED Chairman Jerome Powell will change his tone on monetary policy direction. With the recently released US economic data, it is likely that the FED Chairman will still support the plan to cut interest rates in September. This may support gold prices next week. Technically, on the H4 chart, you need to pay attention to two resistance levels, with support established around 2350, while resistance is at 2430. Next week, if the support level 2350 is broken, it is likely Gold price falls to the 2300 level. If the basic information supports the gold price, we need to see the gold price exceed 2430 to maintain the upward momentum. Notable technical levels are listed below. Support: 2,300 – 2,323 – 2,350USD Resistance: 2,475 – 2,430USD 📌The short-term trading plan for next week will be to sell around 2431, buy around 2323. Then continue to wait to sell around 2475, wait to buy around 2300.
OANDA:XAUUSD
by Xayah_trading
2
Middle East escalates, GOLD recovery limited by 2,400 USDWhen tensions in the Middle East suddenly escalated over the weekend, after the opening of the Asian trading session on Monday (July 29), spot gold prices jumped by 15 USD in the short term and gold prices sometimes exceeded past the mark of 2,400 USD/ounce. On July 27, a rocket attack hit a soccer field in Megidar Shams, a town in the Israeli-controlled Golan Heights, killing 12 children and teenagers playing soccer. 44 others were injured. This was Israel's worst civilian loss since Hamas launched attacks on villages and military bases in southern Israel from the Gaza Strip last October. On the night of July 28, local time, the Israeli Prime Minister's Office issued a statement saying that after a 4-hour meeting, the Israeli government's Security Cabinet meeting ended late at night on the 28th and the meeting authorized Israeli Prime Minister Netanyahu and the Prime Minister of Israel. Despite recent volatility, gold maintains its underlying bias toward solid gains as markets increasingly expect the Federal Reserve to cut interest rates by the end of the quarter. According to CME's FedWatch tool, the market has fully priced in a September rate cut. The latest inflation data won't stop the Federal Reserve from cutting interest rates in September. The Fed is increasingly expected to lay the groundwork for a rate cut in September, at least at its meeting on this week. While the Federal Reserve's monetary policy meeting will be the main economic event this week, some attention will also be directed to the U.S. Department of Labor due to July nonfarm payrolls data. announced on Friday. In addition to cooling inflation, expectations of slowing growth in the US labor market will cause the Federal Reserve to lower interest rates before the end of the year. The Fed is not the only central bank holding a monetary policy meeting this week. The Bank of England will announce its interest rate decision on Thursday, with market expectations that the central bank will also cut interest rates. Meanwhile, the Bank of Japan will hold a monetary policy meeting later on Tuesday. Notable economic data and events Tuesday: US consumer confidence; JOLTS Jobs; Monetary policy decisions of the Bank of Japan Wednesday: ADP Nonfarm Payrolls; US Pending Home Sales, Thursday: Bank of England monetary policy decision; US weekly unemployment claims, ISM manufacturing PMI Friday: US nonfarm payrolls Analysis of technical prospects for OANDA:XAUUSD Although gold has recovered, temporary gains are still limited by the original price level of 2,400 USD, which is also noted as an important target resistance level. For the gold price to have adequate conditions for upside, it needs to break above the $2,400 technical level and the next targeted target level at $2,408 in the short term, more so than the $2,437 price point. of Fibonacci retracement 0.236%. Temporarily, gold is not yet qualified to form a complete bullish cycle, while once gold falls below the 0.50% Fibonacci retracement level it will tend to retest the 0.618% Fibonacci level, and a Once the $2,362 level is broken below, a new bearish cycle is likely with a target around $2,329. During the day, the technical outlook for gold prices leans more to the downside with conditions for a new bullish cycle noted above. Notable technical levels are listed below. Support: 2,385 – 2,378 – 2,362USD Resistance: 2,400 – 2,408USD 🪙SELL XAUUSD | 2414 - 2412 ⚰️SL: 2418 ⬆️TP1: 2407 ⬆️TP2: 2402 🪙BUY XAUUSD | 2377 - 2379 ⚰️SL: 2373 ⬆️TP1: 2384 ⬆️TP2: 2389
OANDA:XAUUSD
by Xayah_trading
GOLD has more technical pressure, ready for major eventsOn Wednesday, the Federal Reserve will conclude its two-day meeting and announce its interest rate decision. The market generally believes that this meeting will not make a decision to cut interest rates but will provide guidance for an interest rate cut in September. The fact that the Fed will not cut interest rates at the upcoming meeting has been fully priced in by the market, so interest rate guidance in September and the end of the year will be the focus of this FOMC meeting. Traders prepare for a series of market events, in addition to a midweek policy decision from the Federal Reserve, decisions from the Bank of Japan and the Bank of England, as well as the nonfarm payrolls report. The US economy on Friday will also have a significant impact on the general market and the gold market in particular. In Asian markets on July 30, OANDA:XAUUSD recovered from the $2,378 level noted by readers in the weekly edition, but overall it needs to recover much more strongly to be able to get the conditions for Expectations of a new bullish cycle. The point worth noting is that the original price level of 2,400 USD will be the nearest resistance and is also very important. If gold breaks and maintains above this level, it will have enough conditions to technically increase in price. The target level after breaking $2,400 is $2,408 in the short term and more likely is $2,437. Meanwhile, currently, the gold price still has a more bearish position with initial resistance from EMA21 and the lower edge of the price channel and the 0.50% Fibonacci retracement level at 2,385 USD. Once gold is sold below the 0.618% Fibonacci level, it will open a new downtrend with the target level then being around 2,329USD. On the other hand, the Relative Strength Index has not yet reached the oversold level, showing that there is still room to decline. During the day, the current position is heavily tilted to the downside with notable technical levels listed below. Support: 2,378 – 2,362USD Resistance: 2,385 – 2,390 – 2,400USD 🪙SELL XAUUSD | 2419 - 2417 ⚰️SL: 2423 ⬆️TP1: 2412 ⬆️TP2: 2407 🪙BUY XAUUSD | 2351 - 2353 ⚰️SL: 2347 ⬆️TP1: 2358 ⬆️TP2: 2363
OANDA:XAUUSD
by Xayah_trading
1
GOLD fell slightly after reaching initial target, FOMC, PowellOANDA:XAUUSD decreased slightly after a significant recovery period, at the Asian trading session on July 31, gold decreased slightly from the Fibonacci level of 0.382% to 2,405USD/oz, equivalent to a decrease of about 0.25% on the day. Middle East News On the evening of July 30 local time, an Israeli drone attacked a Hezbollah target in the southern suburbs of Beirut, the capital of Lebanon. It is known that the drone fired 3 missiles, causing a building to collapse. Currently, attacks in the southern suburbs of the Lebanese capital have left 3 people dead and 74 others injured. The Israeli military announced it killed a top Hezbollah commander in an airstrike in Beirut on Tuesday in retaliation for a cross-border rocket attack three days ago. As sent to readers in the weekly edition, new points are emerging in the Middle East situation, and escalating geopolitical risks are always a potential motivating support for shelter demand. safe. Pay attention to the FOMC and Jerome Powell The Federal Reserve's two-day meeting ends Wednesday's trading session, with markets expecting the central bank to leave interest rates unchanged but could signal policy easing as early as September. At 01:00 Hanoi time on Thursday, the US Federal Open Market Committee (FOMC) will announce its interest rate decision, at 01:30 the same day, Federal Reserve Chairman Jerome Powell will hold a press conference on monetary policy. Investors will need to closely scrutinize the Fed's policy statement and comments from Fed Chairman Jerome Powell for any information that supports expectations of the first rate cut in September. Previously, on July 15, Federal Reserve Chairman Powell gave a dovish signal during an interview at an event at the Economic Club of Washington. Powell said second-quarter economic data gives policymakers more confidence that inflation is falling toward the Fed's 2% target. The comments could pave the way for interest rate cuts in the near future. At that time, Powell indicated that he would not wait until inflation reached the 2% target to cut interest rates, because the impact of monetary policy has a lag, and keeping interest rates too high for a long time will cause problems. Excessive inhibition for the economy. He further explained that if we wait until inflation reaches the 2% target to cut interest rates, we may have to wait too long because the tightening monetary policy is currently being applied, or the current tightening policy will still continue. impact and can push the inflation rate below 2%. Analysis of technical prospects for OANDA:XAUUSD Although gold has surpassed the original price level of 2,400 USD, after reaching the initial target level, please pay attention to the weekly publication at 2,408 USD, the price point of the Fibonacci retracement of 0.382%, and the upward momentum. The price of gold is also limited by this level. In the immediate future, keeping above the original price of 2,400 USD will be a positive signal for gold. But for gold prices to qualify for a longer bull run it needs to break above the 0.382% Fibonacci retracement level then target around $2,437. In the short term, gold will be supported by the 21-day moving average (EMA21) and the lower edge of the price channel. During the day, the trend of gold prices is providing the conditions for a bullish outlook and notable technical points are listed as follows. Support: 2,400 – 2,390 – 2,385USD Resistance: 2,408 – 2,437USD 🪙SELL XAUUSD | 2434 - 2432 ⚰️SL: 2438 ⬆️TP1: 2427 ⬆️TP2: 2422 🪙BUY XAUUSD | 2387 - 2389 ⚰️SL: 2383 ⬆️TP1: 2394 ⬆️TP2: 2399
OANDA:XAUUSD
by Xayah_trading
GOLD → Correction before the bullrun. Target 2500?FX:XAUUSD is strengthening and testing 2450. The price rise was influenced by Powell's comments on progressive deflation and a possible rate cut in September, as well as another conflict in the Middle East.... The Fed left the rate unchanged for the 8th time at 5.5%. The rate has remained unchanged since the summer of 2023 and is the highest in 20 years. There was considerable discussion of a rate cut at this meeting. A rate cut may be considered in September. In addition, the intensification of the conflict in the Middle East may turn into a full-fledged war, which generally increases the interest in gold. Today is also a busy news day. Initial Jobless Claims, SP PMI, ISM are ahead. The data also plays an important role in shaping the medium-term strategy, so it is important to evaluate the actual results. Resistance levels: 2437, 2450 Support levels: 2430, 2421 After a false breakdown of resistance, a correction is forming. Gold is bullish at the moment (trend, sentiment and interest), so the nearest strong support may become a reversal zone for further strengthening. The potential target is 2451 - 2474. Rate, share your opinion and questions, let's discuss what's going on with ★GOLD ;) Regards R. Linda!
FX:XAUUSDLong
by RLinda
6
Gold Price Explosion? Key Patterns Indicating Major Moves Ahead!Technical Breakdown of XAUUSD Overview The chart presents the price action of Gold Spot (XAUUSD). Key technical patterns and significant support/resistance levels are highlighted to provide insights into potential price movements. Key Patterns and Levels Descending Channel: The price previously moved within a descending channel, marked by lower highs (LH) and lower lows (LL), indicating a downtrend. The breakout from the descending channel suggests a potential shift in momentum from bearish to bullish. Support/Resistance Levels: HTF (Higher Time Frame) Support/Resistance: A crucial level providing a foundation for significant price movements, shown with blue lines. LTF (Lower Time Frame) Support/Resistance: A lower time frame level within the channel, highlighting short-term price actions. 1HR Double Top: A resistance level around 2458.3 where the price is currently facing a decision point. Bullish Patterns: 3 Touch Flag: A bullish flag pattern with three touches indicating potential continuation if the price breaks above the resistance. Daily Bull Flag: A larger time frame bull flag pattern suggests a bullish continuation if the price breaks above the upper boundary. Liquidity Zones: Weekly LQZ: A liquidity zone around 2484, which acts as a significant resistance level. Daily LQZ: A zone around 2348.8 providing a major support level. Current Market Conditions: The price is currently testing the 1HR double top resistance. A rejection at this level could indicate a potential short position, while a clear break above could confirm a long position. Trading Strategy: Wait for Confirmation: Traders should wait for a clear rejection or break above the 1HR double top to determine the direction of their positions. Monitor Key Levels: Keep an eye on the support/resistance levels and liquidity zones to gauge potential price movements and market sentiment. Conclusion: Gold is at a critical juncture with significant patterns indicating possible major moves ahead. Traders should closely monitor the 1HR double top and key support/resistance levels to make informed trading decisions.
OANDA:XAUUSD
by Adlercon333
2
Gold Price Explosion? Key Patterns Indicating Major Moves Ahead!Technical Breakdown of XAUUSD Overview The chart presents the price action of Gold Spot (XAUUSD). Key technical patterns and significant support/resistance levels are highlighted to provide insights into potential price movements. Key Patterns and Levels Descending Channel: The price previously moved within a descending channel, marked by lower highs (LH) and lower lows (LL), indicating a downtrend. The breakout from the descending channel suggests a potential shift in momentum from bearish to bullish. Support/Resistance Levels: HTF (Higher Time Frame) Support/Resistance: A crucial level providing a foundation for significant price movements, shown with blue lines. LTF (Lower Time Frame) Support/Resistance: A lower time frame level within the channel, highlighting short-term price actions. 1HR Double Top: A resistance level around 2458.3 where the price is currently facing a decision point. Bullish Patterns: 3 Touch Flag: A bullish flag pattern with three touches indicating potential continuation if the price breaks above the resistance. Daily Bull Flag: A larger time frame bull flag pattern suggests a bullish continuation if the price breaks above the upper boundary. Liquidity Zones: Weekly LQZ: A liquidity zone around 2484, which acts as a significant resistance level. Daily LQZ: A zone around 2348.8 providing a major support level. Current Market Conditions: The price is currently testing the 1HR double top resistance. A rejection at this level could indicate a potential short position, while a clear break above could confirm a long position. Trading Strategy: Wait for Confirmation: Traders should wait for a clear rejection or break above the 1HR double top to determine the direction of their positions. Monitor Key Levels: Keep an eye on the support/resistance levels and liquidity zones to gauge potential price movements and market sentiment. Conclusion: Gold is at a critical juncture with significant patterns indicating possible major moves ahead. Traders should closely monitor the 1HR double top and key support/resistance levels to make informed trading decisions.
OANDA:XAUUSD
by Adlercon333
GOLD → Ahead is 2430 and strong news. Going up to 2500?FX:XAUUSD overcomes trend resistance, forming a bullrun to the liquidity zone amid positive rumors. The price is testing 2430. Possible correction before the news. Today is a busy news day, high volatility is possible. Ahead of ADP Nonfarm, Chicago PMI and the most important last: Fed Interest Rate Decision and FOMC conference. Nobody is going to cut the rate today, but Powell may give a signal about interest rate reduction in the coming months on the background of slowing labor market growth. Traders evaluated the possible potential positively enough and rushed through 2390 to 2430. Technically, a retest of resistance is formed after quite a long time, liquidity may not let the price up the first time, respectively, a correction is possible before further growth. Resistance levels: 2429, 2452, 2474. Support levels: 2404, 2400 The fundamental and technical background is favorable, if something unpredictable does not happen today, gold may continue its recovery phase. But, pay attention to the news, as they will be published in a cascade and the temporary mood of the market may be volatile.... Rate, share your opinion and questions, let's discuss what's going on with ★GOLD ;) Regards R. Linda!
FX:XAUUSDLong
by RLinda
17
GOLD Breakout Imminent? Key Levels & Patterns to Watch Now!Technical Breakdown of XAUUSD Overview The chart depicts the price movement of Gold Spot (XAUUSD) against the US Dollar on the 1-hour timeframe, highlighting key technical patterns and support/resistance levels. The analysis aims to provide insights into potential price actions based on historical movements and current market conditions. Key Patterns and Levels Descending Channel: The price has been moving within a descending channel, characterized by lower highs (LH) and lower lows (LL). The channel is defined by two parallel trendlines (in white) that indicate a downtrend. The descending channel suggests bearish momentum as the price continues to make lower highs and lower lows. Support/Resistance Levels: Support/Resistance Inside Channel: A notable level within the channel where the price has repeatedly found support or resistance, marked by dashed horizontal lines. 4HR LQZ (Liquidity Zones): Two critical liquidity zones at 2447.5 and 2432.4, acting as major support and resistance levels. These zones are crucial as they represent areas where significant buying or selling activity has occurred. Highs and Lows: Higher High (HH): The highest point reached before the price entered the descending channel, indicating a peak in bullish momentum. Lower High (LH): The lower high within the descending channel, showing the continuation of the bearish trend. Daily Bull Flag: The price is approaching the upper boundary of a daily bull flag pattern (marked in yellow), suggesting a potential bullish breakout if the price can sustain above this level. Current Market Conditions: Support/Resistance Retest: The price recently tested the resistance level at 2474.9 within the 4HR LQZ and pulled back slightly, indicating the presence of sellers at this level. Potential Breakout: The price is attempting to break above the descending channel and the 4HR LQZ, which could signal a reversal of the downtrend if confirmed by sustained buying pressure. Additional Insights: Dollar Interaction: The inset chart shows the US Dollar index coming into a support/resistance level within its own channel, providing additional context to the gold movement. Market Sentiment: The overall market sentiment and external factors such as economic data releases and geopolitical events can also influence the price movement of gold. Conclusion: The XAUUSD is currently at a critical juncture, testing key resistance levels within a descending channel. A successful breakout above the 4HR LQZ and the descending channel could signal a bullish reversal, while failure to break these levels may result in continued bearish pressure.
OANDA:XAUUSDShort
by Adlercon333
GOLD rose 1% after US inflation dataGold prices increased 1% on Friday (July 26), as US Government bond yields fell due to optimism that the US Federal Reserve (Fed) will lower interest rates in September, after data showed that inflation in the US increased slightly in June. At the end of the trading session on July 26, the spot gold contract increased 1% to 2,388.05 USD/oz, after hitting the lowest level since July 9, 2024 on July 25. Gold futures contracts added 1.2% to 2,381 USD/oz. US economic data was mixed to weaker today, showing inflationary pressures and weakening economic activity, paving the way for the Fed to lower interest rates twice this year. Fed policymakers on July 26 got fresh evidence of progress in the fight against inflation, raising expectations that they will use next week's meeting to signal a rate cut. Rates start in September. Lower interest rates reduce the opportunity cost of holding non-yielding metals. The US Department of Commerce's Bureau of Economic Analysis said the personal consumption expenditures (PCE) price index in the US in June inched up 0.1% compared to the previous month, after remaining unchanged in May. After the inflation data, the 10-year US Government bond yield fell to its lowest level in a week. Meanwhile, physical demand in India, the world's second largest consumer, received a boost when the country reduced import taxes on precious metals earlier this week. Gold prices in India also surged to its highest level in a decade this week.
OANDA:XAUUSD
by Xayah_trading
Gold ready to rip to $2,495 - Breakouts all aroundA strong Cup and Handle formed, with a breakout of the downtrend lines. We also have a solid uptrend line since 25 July, keeping the price up (Safety). NATURE: (High Probability analysis) Price>20MA and 200MA My Daily target is $2,495. WIth Bitcoin's price rocketing (As per my last analysis) with Russia now stepping in to legalise along with the shady compnanies sifting out one by one, the safe havens are looking great for upside.
OANDA:XAUUSDLong
by Timonrosso
GOLD fell more than 1%, the bullish structure was threatenedEarly in the Asian trading session on July 25, OANDA:XAUUSD decreased more than 1%, as of the time the article was completed, gold was trading at 2,372USD, equivalent to a decrease of 25Dollar during the day. Former New York Fed President Dudley (who enjoys perpetual voting rights on the FOMC and is known as “the Federal Reserve's third in command”) wrote: I have long been in the “hold interest” camp. high yield for longer periods of time. But times have changed and things have changed now so I changed my mind. The Fed should cut interest rates, preferably at its interest rate meeting next week. Gold traders are now awaiting second-quarter US GDP data today (Thursday), as well as the latest personal consumption expenditures (PCE) price index on Friday, as this is the gauge Fed's preferred inflation. Reuters quoted sources as saying on Wednesday that the Bank of Japan may discuss whether to raise interest rates at its July 30-31 meeting and announce a plan to nearly halve its bond purchases. votes in the next few years. Although gold has been supported by news from India which has reduced import duties on gold and silver from 15% to 6%. But the main reason why gold prices are still being sold off is partly due to profit-taking motivation, and partly because the possibility of Trump's election will support the Dollar. Trump is known as the President with a gay tariff stance. harshly. The main factor currently supporting gold prices is market expectations that the Federal Reserve may actually decide to cut interest rates before September. Analysis of technical prospects for OANDA:XAUUSD On the daily chart, gold is trading at a very dangerous price position for bullish expectations. As the current price activity falls below most important supports from the trending price channel and the 21-day moving average (EMA21). Given its current position, gold is still likely to continue to sell off more towards the 0.618% Fibonacci retracement level, which is also the nearest support level. Meanwhile, the Relative Strength Index is pointing down but still quite far from the oversold point, showing that the room for price reduction is still quite comfortable. Gold can only have enough conditions to increase in price when it surpasses the area of ​​2,400 - 2,390 USD, which is also considered the current pressure area. During the day, gold has conditions to fall further with notable prices that will be listed again as follows. Support: 2,362USD Resistance: 2,385 – 2,390 – 2,400USD 🪙SELL XAUUSD | 2415 - 2413 ⚰️SL: 2419 ⬆️TP1: 2408 ⬆️TP2: 2403 🪙BUY XAUUSD | 2349 - 2351 ⚰️SL: 2345 ⬆️TP1: 2356 ⬆️TP2: 2361
OANDA:XAUUSD
by Xayah_trading
1
My Tape Reading for XAUUSD 4H CandleMy Tape reading Gold - 24h expiry on 4H Candles Posted a pin bar(inverted hammer) formation. We look to Sell at 2390 (stop at 2396.5) Our profit targets will be 2363.5 and 2357.5 Price Watch @North: 2406.0 / 2433.0 / 2438.0/2465/0/2473.0 Price Watch @South: 2363.0 / 2357.0 / 2327.0/2327.0 Risk Disclaimer The trade ideas beyond this page are for Education/informational purposes only and do not constitute investment advice or a solicitation to trade. Shunya.Trade does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit. You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy. This information is provided by Shunya.Trade, and is intended for general circulation only.
PEPPERSTONE:XAUUSD
by shoonya0000
GOLD → Retest resistance before a breakout. What's next?FX:XAUUSD has been strengthening since the opening of the session and is testing the 2400 zone. The market is getting bullish again, but at the same time it is at a strong resistance. The focus is on 2393.0. There is no news today and the overall situation is stable. Gold has no obvious reasons for a possible strong fall. Markets are waiting for the confirmation of the progression of US deflation with the subsequent hints on the soon reduction of interest rates. The fact itself is favorable for gold. Technically, the focus is on the edge of the range 2393. Consolidation of the price above this area may well influence further growth, but it is necessary to follow the descending resistance, because it will be difficult to pass this area from the first time. Resistance levels: 2400, 2430 Support levels: 2393, 2384, 2377 Technically and fundamentally everything is quite positive. We should expect a retest of resistance with subsequent growth, but it is not excluded that before the active recovery phase there may be a retest of support, for example: 2387, 2382 or 2377 Rate, share your opinion and questions, let's discuss what's going on with ★GOLD ;) Regards R. Linda!
FX:XAUUSDLong
by RLinda
16
GOLD recovered strongly by IndiaOANDA:XAUUSD Strong recovery, Gold price reached 2,418 USD/ounce during the Asian trading session on July 24. Spot gold ended a four-session losing streak as India's move to cut import taxes on gold and silver is expected to boost global gold demand. India plans to significantly reduce import duties on gold and silver The Indian government on Tuesday announced plans to reduce import tax on gold and silver from 15% to 6%. The move could boost retail demand and help curb smuggling in India. “To increase the domestic value addition of gold and precious metal jewellery, I propose to reduce customs duty on gold and precious metals,” Finance Minister Nirmala Sitharaman said in her budget speech on Tuesday. silver down 6%.” Increased gold demand in India could push up global gold prices because India is the world's second largest gold consumer. In addition to news from India, falling US bond interest rates is also a positive signal for gold. Gold prices recovered, due to falling US Treasury bond yields. The US 10-year Treasury yield fell 1.5 basis points to 4.24%, which is a positive signal for gold. Traders are awaiting key US economic data, including June inflation and Q2 GDP, to gauge the Fed's next move. According to CME Group's "FedWatch" tool, the market expects a 96.1% chance that the Fed will cut interest rates in September. Since gold does not earn interest, cutting interest rates could reduce the opportunity cost of holding gold, thereby making gold more attractive to investors. Pay attention to important US data The focus this week will be on US second-quarter GDP data on Thursday and the latest personal consumption expenditures (PCE) price index on Friday, as this is the Fed's preferred measure of inflation. A weaker PCE is expected to be positive for gold, mainly because the market will be more confident that the Federal Reserve will begin cutting interest rates in September. Analysis of technical prospects for OANDA:XAUUSD On the daily chart, up to now, gold is having its second day of recovery since profit-taking pressure caused gold prices to adjust to the important support area around 2,390 - 2,400 USD. Attention readers before. Gold prices also achieved the initial target recovery level at the $2,416 area noted in yesterday's publication and with the current momentum, the next target level will be around $2,430. If gold breaks the 2,430 USD level, the bullish outlook will continue to open up with a new cycle and the subsequent target level of about 2,465 USD, the price point of the 0.328% Fibonacci extension. As long as gold remains above EMA21 and within the trend price channel the main trend remains bullish and the bullish structure is not affected, pullbacks do not take gold price below EMA21 then it should only be considered as short-term adjustments. During the day, the uptrend of gold prices will be noticed by the following technical levels. Support: 2,400 – 2,390USD Resistance: 2,420 – 2,430USD 🪙SELL XAUUSD | 2434 - 2432 ⚰️SL: 2438 ⬆️TP1: 2427 ⬆️TP2: 2422 🪙BUY XAUUSD | 2372 - 2374 ⚰️SL: 2368 ⬆️TP1: 2379 ⬆️TP2: 2384
OANDA:XAUUSD
by Xayah_trading
2
XAUUSD Trading plan for August.Gold (XAUUSD) has been rebounding following a hit-and-hold on the 1D MA50 (blue trend-line) on Thursday, having closed 2 straight 1D candles above it. As long as this continues, we have a bullish development and a new Higher Low on the (dotted) Channel Up, which targets 2545 (+8.30% as the previous Bullish Leg). If it closes below the 1D MA50 however, we expect a longer accumulation phase (blue arc) similar to June's around or even marginally below the 1D MA100 (green trend-line). In this case, we will open an additional buy and target 2500 (top of the blue Channel Up and target for both open buys). ------------------------------------------------------------------------------- ** 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
1
GOLD → There's a chance at the Bullrun. PCE ahead...FX:XAUUSD is testing local channel support and forming a rebound from the liquidity zone. Traders are waiting for PCE data. Favorable inflation data may provide strong support for gold. Traders are waiting for the PCE, any hints of lower inflation may be viewed quite positively, which will generally increase the chance of interest rate cut in September. As we know, low interest rates make gold more attractive. Technically, if we pay attention to the D1 chart, gold is testing a conglomeration of strong support: False break of MA-200 + trendline support, as well as bounce from 2350-2355 support level, which means the approximate area of intermediate bottom of the ranyke and forms a global range of 2485 - 2350. But, the fight for 2350 is not over yet. Resistance levels: 2377, 2392 Support levels: 2370, 2350 Let me remind you that news is unpredictable. Favorable data will influence the possible bull run, but unpredictable ones may provoke sales and price decline to 2350. But, at the moment of analysis, technical and fundamental nuances point to a bull market, there is a chance of growth to 2400-2430. Rate, share your opinion and questions, let's discuss what's going on with ★GOLD ;) Regards R. Linda!
FX:XAUUSDLong
by RLinda
14
The market focuses on GDP, PCE, GOLD recovers around $2,400OANDA:XAUUSD fell below its original price of $2,400 on Monday (July 22) as the dollar strengthened slightly, making gold more expensive for holders of other currencies, while markets waited for more data US economists and Federal Reserve officials commented this week to clarify the interest rate cut schedule. According to CME "Fed Watch" data, the probability of the Fed keeping interest rates unchanged in August is 97.4% and the probability of cutting interest rates by 25 basis points is 2.6%. The probability of the Fed keeping interest rates unchanged until September is 5.8%, the probability of a cumulative interest rate cut of 25 basis points is 91.7% and the probability of a cumulative interest rate cut of 50 basis points is 2. 4%. Lower interest rates reduce the opportunity cost of holding unprofitable gold, and are an important support for gold prices. Joe Biden announced on Sunday that he would withdraw from the US presidential race and endorse Vice President Kamala Harris as the Democratic Party candidate in the November election. But it forced a reassessment of risks in the markets. financial markets, affecting gold prices on Monday. As noted to readers in yesterday's edition, if Trump is re-elected, gold will be under certain pressure in the short term because Trump has a harsh tariff stance. But there will not be fundamental pressure because gold will still be supported by the US Federal Reserve's (Fed) gradual interest rate cuts. Markets are currently focused on second-quarter US gross domestic product (GDP) data released on Thursday, as well as personal consumption expenditures (PCE) data released on Friday. Analysis of technical prospects for OANDA:XAUUSD On the daily chart, gold fell to levels around the original price point of $2,400, an area that will be noted as a very important support area. The area around 2,400USD is a very important support area because this is the confluence of many technical indicators from EMA21, the lower edge of the medium-term rising price channel and the 0.236% Fibonacci level. If gold can recover to maintain price activity above its original price of $2,400, then overall the bullish structure has not been broken and there is still upside potential. The upward momentum will become clearer if gold can bring price activity above 2,430 USD, at which point the target level will be around 2,465 USD in the short term. As long as gold remains above EMA21 and within the price channel, the medium-term technical outlook remains bullish, which means long protection levels should be placed behind EMA21. During the day, the prospect of recovery with the main uptrend will be noticed by the following technical levels. Support: 2,400 – 2,390USD Resistance: 2,416 – 2,430USD 🪙SELL XAUUSD | 2434 - 2432 ⚰️SL: 2438 ⬆️TP1: 2427 ⬆️TP2: 2422 🪙BUY XAUUSD | 2372 - 2374 ⚰️SL: 2368 ⬆️TP1: 2379 ⬆️TP2: 2384
OANDA:XAUUSD
by Xayah_trading
Joe Biden, gives up re-election, USD is temporarily supportedUS President Joe Biden on Sunday abandoned his difficult re-election bid under growing pressure from members of his Democratic Party and endorsed Vice President Kamala Harris to succeed him as party candidate on November 11. Biden will face Republican candidate Trump in the presidential race in the November election. If officially nominated, Harris, 59, will become the first black female presidential candidate of the major parties in American history. “Kamala Harris, as a potential Democratic presidential candidate, her policy ideas cover many areas such as tech regulation, big tech companies, climate and energy. quality as well as artificial intelligence.” If former US President Trump wins a second term, Trump's tariff stance will have a major impact on the market (Trump is known as the US President with a harsh tariff stance, demonstrated by his term in office). Trump had a trade competition with China, which had a deep impact on the market and major fluctuations continuously occurred. During this period, the admin also had to monitor each status line of "this President, very tired".) 1. If Trump is elected, precious metal gold and silver may come under temporary pressure as the Dollar strengthens from Trump's harsh tariff stance. In this context, the Dollar should be considered a safe haven and continue to be promoted. 2. Even if Trump is elected, gold prices are still unlikely to sustainably decline or, more accurately, have a long-term fundamental downward trend by central banks such as the Federal Reserve and Banks The European Central Bank, along with many other major Central Banks, will enter a cycle of cutting interest rates. For this orientation, gold may be temporarily under pressure because the possibility of Trump being elected is very high. According to Bloomberg, Trump's success rate of returning to the White House is more feasible than most other candidates. . In a context where Joe Biden, the representative of the Democratic Party, has given up his difficult re-election effort. However, this impact is not a long-term impact because the Fed's interest rates will have to be cut gradually, and of course this is beneficial for gold prices in the medium and long term. The gold price target will continue to be focused on the $2,500 mark, and technical analysis and more market information readers can review in the weekly publication linked below.
OANDA:XAUUSD
by Xayah_trading
1
GOLD → Profit taking led to the rally. But it's not all bad... GOLD after the retest of 2430 fell under the selloff, there is no pressure on the price of metal, but the reason may be profit taking amid the selloff in stocks and in anticipation of economic data from the United States. Traders are waiting for US GDP and Initial Jobless CLaims, which will be released at 12:30 GMT. The data may have a medium-term impact on the market, but the whole focus is on PCE, which will be released on Friday. Investors expect the Fed to deliver its long-awaited rate cut in September. In a low interest rate environment, gold's appeal increases. If the data on Friday shows that inflation is slowing down, it will be a good sign for gold. Technically, a correction is forming, with emphasis on 2370, or 2350. Strong support areas that can keep the market from falling. Resistance levels: 2377, 2392 Support levels: 2370, 2355, 2350 The price stops in the zone of 2370-2377 in general it can give some prerequisites for a rebound. If gold can consolidate above 2377, the price may move into the recovery phase, if not, traders may test the liquidity in 2355-2350 before further growth. Rate, share your opinion and questions, let's discuss what's going on with ★GOLD ;) Regards R. Linda!
FX:XAUUSDLong
by RLinda
8