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GOLD → False breakdown before the news. What to expect?FOREXCOM:XAUUSD , amid the decline we were waiting for, reaches the target of 2015 and forms a false breakout. But the only thing that is constant is the range. What should we expect from the price at this point? Pic: False break of trend line support The dollar stops again and goes into consolidation before another series of news. Today the market is waiting for the CPI. Gold enjoys a very high interest from the Central Bank and traders are actively trying to buy and contain a possible fall. Thus, the false breakdown provokes the growth and strengthens the prices to the resistance 2064 and the trend line. A false breakdown may be highly likely to be followed by a small correction before further growth. Trading inside the range continues, so it is worth to follow the appropriate strategy. Since we have no actual trend, it is acceptable to sell or buy, but only if there is a strong reversal zone and a signal. Resistance levels: 2064, trend line, 2037 Support levels: 2018, 2015 Inside the range, the price is moving between the levels. Based on the situation, I expect a false breakdown of the nearest level, correction to support before further growth to the upper boundary of the range. Regards R. Linda!
OANDA:XAUUSDLong
by RLinda
20
XAUUSD Last Bearish Leg for a February bottom.Gold (XAUUSD) has dropped again below the 1D MA50 (blue trend-line) and contrary to our last short-term signal (February 07, see chart below), we look today on a longer term monthly basis on the 1D time-frame: As long as the price stays below the 1D MA50, it is very likely to see the current rejection transition into a Bearish Leg for the whole month of February and test the strong long-term Support cluster of the 0.382 Fibonacci level, Support 1 and the 1W MA50 (green trend-line). This pattern expectation emerges due to the similarities of the current price action with what led and followed the May 04 2023 High. The 1D RSI in particular between the two sequences are identical and suggests that we might be on a Bearish Leg similar to June's 2023, which bottomed on a double Low on the Support Zone. Our Target is therefore 1983 (0.382 Fibonacci). It's worth mentioning that all 1W MAs were Supports in the past 12 months, the 1W MA200 (red trend-line) on the October 06 2023 Low and the 1W MA100 (yellow trend-line) on the February 28 2023 Low. That makes the 1W MA50 very relevant. ------------------------------------------------------------------------------- ** 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 → Sellers are testing trend support. What could happen?FOREXCOM:XAUUSD has been testing the local resistance area since the opening of the session and forming a false breakout with subsequent decline, but at the same time a symmetrical triangle is forming on the chart. Idea: GOLD → When will the price come out of consolidation? On D1 the market is still neutral, there is no strong news that would affect the price, but as we can see, gold is testing the global trend support. At the same time, the dollar index continues to form a bullish trend, which is bad for gold. On H1, we can see the local trend change to a downtrend, but the continuation of the trend is hindered by the support of the symmetrical triangle. We have a chance to catch a breakout of this area. Consolidation of the price below the 2021 area will confirm the market sentiment, ready to decline to 2015-2010. Pic: Sellers are testing strong trend support Resistance levels: 2026.400, trend resistance Support levels: 2021, 2015, 2010, 2004 The gold market is under selling pressure, buyers are trying to hold this pressure, but against the backdrop of a strengthening dollar, the bulls' strength is starting to wear off. Breakout 2021, then 2015 may trigger strong sell-offs on the background of possible liquidation. TVC:DXY TVC:GOLD COMEX:GC1! COMEX_MINI:MGC1! Regards R. Linda!
OANDA:XAUUSDShort
by RLinda
11
XAUUSD: Bearish Wave underway to 1,975.Gold is about to cross from a neutral technical 1D outlook (RSI = 45.543, MACD = -1.200, ADX = 26.629) to a bearish one as it got rejected on the 1D MA50, under which it will close for the third straight 1D candle. The 1D RSI suggests that this is a very slow medium term decline, as is evident by the 6 week Channel Down, that in the near term it will find a bottom. That can potentially be near the 1D MA200 and on the short term we remain bearish, targeting the S1 level (TP1 = 2,005) initially and in extension, if Gold closes a 1D candle under the 1D MA100, sell again aiming for the LL trendline of the Channel Down (TP2 = 1,975) near the S2 level and over the 1D MA200. See how our prior idea has worked out: ## 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 → When will the price come out of consolidation?OANDA:XAUUSD closed the trading session with a bearish candlestick on Friday. The asset loses 0.8% for the week, but at the same time it continues to stay inside the range between the strong boundaries of 2067 and 2010. Pic: Uptrend in the market. Price is testing trend support The dollar continues to strengthen, testing support as part of the correction and apparently preparing for further growth, which may temporarily have a negative impact on gold. But, if you look closely, technically, gold, on the background of increased interest feels quite confident and the market is trying not to succumb to strong manipulations on the part of the growing dollar. On Friday XAU is testing the ascending support again, the session closes below the line, but it is a weak signal within the flat. The 2015 level may influence the sales, but only if this area is broken. At the moment, there are no signs that the market will break 2015.6 in the near future. We need to wait for the retest of this support and see how the price reacts. But based on the fact that 2015.6 is a strong liquidity area, gold will not be able to break this area the first time. Pic: Gold range on H1-H4 The chart above shows the current range. The price has not yet managed to update the local lows, as well as the highs, as evidenced by the neutrality of forces between buyers and sellers. Against the background of the local situation: dollar growth, negative fundamental background for gold, we can determine that in the coming week gold may test flat support before further rebound (or false breakdown), after which the price may continue trading within this range. The reason for continued consolidation: there is no strong news in the market, the dollar continues to rise as the Fed is not looking to cut rates anytime soon, but buyers are actively trying to contain the declines in gold. The interest in gold is also affected by the interest of the world central banks, as well as the geopolitical crisis, as well as rumors of a banking crisis in the United States. Regards R. Linda!
OANDA:XAUUSD
by RLinda
4
GOLD → Support retests continue. Weak fundamental backgroundOANDA:XAUUSD on the background of news on Thursday is declining, but does not reach the local minimum. On the background of the pullback the price also does not reach the local maximum. The range boundaries are narrowing. The fundamental background for gold still remains and is relatively negative at the moment. On the chart above we can observe a difficult situation in XAU. Volatility is very low, the price has been standing still for two days, as evidenced by the D1 candlesticks of Wednesday and Thursday. Technically, we can observe a global uptrend, but at the moment we should pay attention to the symmetrical triangle. The price continues to test the trend support. Each new retest of the support forms a weaker and weaker reaction, the price continues to squeeze against the support. Technically, we can assume that the market is preparing to break the lower trend boundary, which can form a volume surge and a strong momentum towards the lower levels, such as 2000. Fundamentally, although we have high interest in the metal, but locally, the fundamental background is weak, as evidenced by this week's news. Support levels: 2029.7, 2020, 2015 2004 Resistance levels: 2039 - 2942 It is logical to expect a decline based on the current data, from the opening of the US session, the market may test resistance before falling TVC:DXY TVC:GOLD COMEX:GC1! COMEX_MINI:MGC1! Regards R. Linda!
OANDA:XAUUSDShort
by RLinda
2
GOLD → The calm (consolidation) before the storm ⚡︎OANDA:XAUUSD closes Wednesday's session with a minimal range of motion. The market is getting tighter and tighter every day, volatility as well as volumes are decreasing. The calm before the storm. Today, at 13:30 Initial Jobless Claims are published, at this time the dollar in the correction phase is testing the consolidation area and in all likelihood may strengthen if the market supports the index. Gold makes a false break of the resistance area 2039-2042 and forms a consolidation in a narrow range in the phase of waiting for news. Technically, the market continues to stand still. On D1 there is a global flat, but the borders of a symmetrical triangle are present, volatility is decreasing and the range is narrowing. It is interesting that trading volumes are decreasing, but the profile shows a different situation. The market is consolidating liquidity, because at the moment investors do not know what to expect and in the medium term they are aiming to hear some news about the interest rate reduction. Such consolidation may continue until March-April. But the distribution in one side or the other will be very strong, but when it will happen, nobody knows yet :) Resistance levels: 2039, 2042, 2048 Support levels: 2029, 2016, 2004 There is a chance to see bullish news for the dollar today, which could negatively, within a range, affect gold. But, before a possible fall, the price of the metal may test the resistance TVC:DXY TVC:GOLD COMEX:GC1! COMEX_MINI:MGC1! Regards R. Linda!
OANDA:XAUUSDShort
by RLinda
2
XAUUSD, February Bullish SentimentThe overall sentiment for gold prices in February is bullish. While the medium-term trend is sideways, the year of the Wood Dragon and technical indicators suggest potential for upward movement. Year of the Wood Dragon: According to Chinese tradition, the year of the Wood Dragon is considered an auspicious time to save in gold. This could potentially drive up demand and prices. Technical: The gold price has reached support at the trendline, resulting in repeated rebounds. This indicates a strong likelihood of further upward movement. Global economic conditions: The global economic outlook could impact gold prices. If there is uncertainty or instability in the markets, investors may turn to gold as a safe haven. This analysis is based on current market conditions and available information. It is not a guarantee of future price movements.
OANDA:XAUUSDLong
by DNP-FX
2
GOLD → Trading intra-range.. The price continues to stand stillFOREXCOM:XAUUSD has simply been standing still for months now. At least on D1 the range is narrowing and this could lead to something in the medium term. The dollar is forming a correction after a false breakdown. Fundamentally, the index is strong and continues to be supported by US regulators. At 19:00 GMT Bowman FOMC speaks, it is worth paying attention to his comments. Gold at 1 is still in a range. It is quite difficult to anchor an entry point to something because there are no safe zones to open orders inside such consolidation. The good news is that the range is narrowing and the denouement of the situation is approaching. On H1, the price is inside the local range 2039 - 2016 and gold can continue trading inside this consolidation for quite a long time. The resistance was tested earlier, a retest is possible, but on a negative fundamental background and a strong dollar, gold may decline a bit. Resistance levels: 2039, 2042, 2057 Support levels: 2029, 2016, 2004 A retest of the resistance is possible before a further decline within a range trading strategy. It is worth paying attention to the range 2039 - 2029. Breakout of the boundary and price consolidation above resistance or below support will form a signal for price movement in the corresponding direction. COMEX:GC1! TVC:GOLD COMEX_MINI:MGC1! TVC:DXY Regards R. Linda!
OANDA:XAUUSDShort
by RLinda
7
XAUUSD Trading plan on 4H break-outs.Gold (XAUUSD) is technically neutral on the 4H time-frame, ranged within the 4H MA50 (blue trend-line) and 4H MA200 (orange trend-line). The 4H RSI is on a pattern which usually denotes a short-term peak, similar to January 19 and 12. We will apply a break-out trading plan. As long as the price remains within a Channel Down similar to that of Jan 19 - 25, we will be bearish, targeting 2020. If the price closes above the Channel Down and Resistance 1 (2045), we will dump it and turn bullish, targeting 2065 (Resistance 2 and +2.47% from the Low, which is a standard rise % in the past 4 weeks. ------------------------------------------------------------------------------- ** 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:XAUUSD
by TradingShot
GOLD → A retest of support will lead to a breakout FOREXCOM:XAUUSD under the influence of negative fundamental background is testing the support, from which it is forming the rebound we were waiting for. At this time the dollar is strongly strengthening and overcoming local boundaries. On D1 the price of gold is testing the ascending support, a small rebound and a possible retest of the support may be a signal that the market is ready for further decline. There is no strong news today, several FOMC representatives will speak, but the outlook for inflation and rates is the same. On the XAU graphee, we should pay attention to the support at 2021 and 2016. A retest, price squeeze and pre-breakdown consolidations would indicate that the market is ready for a breakout of this zone for a further decline towards 2004. However, price may still test resistance at 2031, 2039 before further decline. Moving averages are trying to form another line crossover. Resistance levels: 2028, 2031, 2039 Support levels: 2021, 2016, 2004 At the moment, the dollar is ready to grow further, except that a small correction may follow. But fundamentally, the outlook is the same. Gold in this case may break the nearest support and head towards 2000 TVC:GOLD COMEX:GC1! COMEX_MINI:MGC1! TVC:DXY Regards R. Linda!
OANDA:XAUUSDShort
by RLinda
3
GOLD is under pressure from Treasury bond yieldsGold prices fell on Monday, pressured by rising US Treasury yields and a stronger US dollar, following a series of solid US economic data, including January nonfarm payrolls and ISM Services PMI. Comments from Federal Reserve policymakers that an interest rate cut in March was unlikely also contributed to the decline in bullion prices. From a technical standpoint, XAU/USD slipped below the 50-day simple moving average following Monday's pullback, but managed to hold above horizontal support at $2,005. For precious metals sentiment to improve, this technical floor must hold; otherwise, sellers may become bolder to start attacking the $1,990 level. On further weakness, attention turns to $1,975. In the event of a bullish reversal in the coming days, which seems unlikely given the lack of positive catalysts and growing headwinds, the 50-day simple moving average is at $2,032 will be the first line of defense against further advances. Looking further out, the next important ceiling is $2,065, followed by $2,085, the late December high.
OANDA:XAUUSD
by Xayah_trading
GOLD → Falling to a strong liquidity area. Retest of D1 supportFOREXCOM:XAUUSD has been losing ground since the opening of the session on the negative fundamental background, which has persisted since last week. The price continues trading inside the range. On the high timeframe the price is declining towards the ascending support line, most likely this area will be tested in the near future. But, as this support plays a rather important role in the market, we should expect a rebound from it, as there is no clear trend in the market and the range trading strategy has the advantage at the moment. On H1, the price has been declining since the opening of the session and is heading towards 2016, from this area, technically, a correction to the strong liquidity area of 2031 may follow. The retest of 2031 and the price reaction will show the further direction, but the prospect is that the fall from this resistance will continue with the target at 2004. Resistance levels: 2031, 2039 Support levels: 2016.8, 2004 As long as the price is inside the range and there is no definite trend in the market, gold may continue to hang around in this channel, trading between the same levels. At the moment there are no such prerequisites, so, for the time being, we should focus on the continuation of trading inside the sideways channel TVC:DXY COMEX:GC1! TVC:GOLD COMEX_MINI:MGC1! Regards R. Linda!
OANDA:XAUUSD
by RLinda
9
GOLD → Friday sales, price in sideways movement FOREXCOM:XAUUSD was ready to overcome the resistance of the 2062 range, but Friday's NFP, with sharply unexpected data of 353K ruined the temporary plans of buyers. The dollar is building strong momentum and continues its strengthening trend. pic: Long-term bullish trend. The price is trading at its maximum values On the 2-week timeframe we see a strong bullish trend, price is trading at its highs and is likely to continue to test the extensive resistance area for a breakout. The reason for this is the high interest in the world during the geopolitical instability, banking crisis, and the huge interest from the world Central Banks, which continue to buy the asset. Fundamentally, gold is no longer actively reacting to the conflicts in the Middle East, but investors continue to buy the metal as a safe haven. Last week Powell made it clear that they will cut the interest rate, but not in March, which disappointed investors a bit, but Friday's NFP, which was apparently bogus, formed a strong sell-off at the end of the week ( high NFP with high jobless claims... ). In the coming week, we should expect the FED chief to speak, as well as other members of the Federal Reserve. On Thursday, Initial Jobless Claims is worth paying attention to. pic: Sideways price movement in the gold market. Neutral position between bears and bulls Locally, on H1, gold is in the 2064-2016 range. Also, there is a strong support area at 2031 from below, after a false break of which the market is buying back the decline a bit. Technically, gold is strong and quite confidently can defend its positions on the background of the dollar growth, but on the background of panic and imbalance from the support, the Market Maker can form another long-squeeze relative to the lower levels. It is also worth paying attention to the fact that the price is still in the range. It is difficult to trade inside the range, so I advise you to look for strong levels or zones. Resistance levels: 2057, 2064, 2040 Support levels: 2031, 2020, 2016 OANDA:XAUUSD TVC:GOLD COMEX:GC1! COMEX_MINI:MGC1! TVC:DXY Regards R. Linda!
OANDA:XAUUSDLong
by RLinda
4
GOLD price falls, risks are not goneShort-term gold prices will still be strongly influenced by upcoming economic data and their impact on the USD and expectations of FED interest rate cuts. Next week, only service PMI data and the US weekly unemployment report will be released, so these data may not have much impact on gold prices next week. Technically, considering the H4 time frame ptkt chart, the gold price is currently moving sideways within the range of 2,000-2,065 USD/oz. Next week, if the 2065 resistance mark is broken, the gold price may look up. 2090 level, on the contrary, the 2000 support zone was broken, gold price regained the 1975 mark.
OANDA:XAUUSD
by Xayah_trading