Get started

Gold-trading

Current Situation, Gold Moving In Channel, Possible Bull-Flag!Hello Traders Investors And Community, welcome to this analysis about Golds price action, the current important formation forming, and the further outcome we can expect the next time. We are looking at the locally 4-hour time-frame and there are some exciting and significant signs which I discovered determining golds ongoing price action. Will be great when you support the idea with a like or/and follow for more market insight! Alright, when looking at my chart we can see that gold is currently consolidating in a side-ways correction after it made the run from 1450 to 1740, this is a normal mechanism in the markets after such a bullish run, traders taking profit and supply enters the market. Also, this sideways correction is forming a channel that you can see marked in my chart in black, this channel currently serves as the ongoing reference-point for gold where the consolidation continues. Furthermore, we can expect the consolidation-period in the channel continues for the next time, what is important in such a structure is that we will get a heavy breakout with a high possibility after such a consolidation, in this case, the bullish breakout is more likely than the bearish breakout. Therefore the channel in which we are moving in at the moment suspected as a possible bull-flag which can break to the upside when it is confirmed properly. What is also playing into the bullish breakout scenario of the possible bull-flag is the local strong support we have in the 1637 to 1642 level which you can see marked in my chart with the orange trend-line. This level is a meaningful level and will serve as the first fundamental respected level for support when we touch it. It is also the logical support-level from the highest we have built in the up-trend before at 1635. This level is also supported by the 400-EMA which we confirmed in the uptrend before, together with the local support it is building a strong and heavy confluence-zone there. Alright, now it is important to be patient and look at how this scenario can play out. I would be cautious in opening a long-position right away. The wisest decision in such a structure is to wait on the proper confirmation of the possible bull-flag after we touched the local support. This will give the setup a higher probability when confirmed. The first targets will be at the blue rising-resistance-line which you see in my chart and even more when we get over this strong resistance-line. Thanks for watching, feel free to support and look in my account for other free analysis, all the best and good weekend ;) "The ambition to transform opportunity into gold remains the most significant tool for a trader." In this manner: FAREWELL Information provided is only educational and should not be used to take action in the markets.
OANDA:XAUUSD
by VincePrince
1
Gold Price Holds Steady Before Important US Employment DataIn continuation from our last week’s analysis on Gold which was spot on, we can see right now that the price of gold (XAU/USD) is moving sideways after a recent rise, which was driven by weaker labor demand due to a less optimistic economic outlook. This precious metal is expected to stay relatively stable as investors wait for the release of the US Nonfarm Payrolls (NFP) data on Friday (tomorrow). On Wednesday, the US ADP Employment report indicated that the job market isn't as strong as previously believed. Companies have slowed down their hiring processes, adding to the signs of an uncertain economic future. The decrease in labor demand has raised hopes that the Federal Reserve (Fed) might ease its approach, especially since Fed Chair Jerome Powell mentioned at the Jackson Hole Symposium that inflation is now more influenced by labor market conditions. Gold has been on a winning streak for the past three days and is predicted to continue recovering as labor demand from US companies weakens due to reduced overall demand. The effects of higher interest rates were evident in the US ADP Employment Change data, which showed a decline in job vacancies. The August ADP report revealed that the private sector in the US added 177K employees, falling short of the expected 195K and just a fraction of July's revised figure of 371K. The slowdown in job growth was particularly notable in the leisure and hospitality sector, where job creation in areas like hotels and restaurants decreased by 30K in August after a period of robust hiring. Wage growth also eased in August. While those staying in their jobs experienced an annual pay growth of 5.9%, those changing jobs saw a slower growth rate of 9.5%. Nela Richardson, the chief economist at ADP, noted that the August numbers reflect a pace of job creation similar to the period before the pandemic. She stated, " After two years of remarkable gains tied to the recovery, we are transitioning to more sustainable growth in both pay and employment as the economic effects of the pandemic diminish. " According to the CME Group FedWatch Tool, it's widely anticipated that interest rates will remain unchanged in September. Additionally, the Fed is expected to maintain rates within the range of 5.25% to 5.50% by the end of the year. Jerome Powell, the Fed Chair, emphasised during his speech at the Jackson Hole Symposium that inflation is now more responsive to the job market. Consequently, a softer labor market could reduce the upward pressure on inflation. Raphael Bostic, President of the Atlanta Fed Bank, suggested that the current policy is sufficiently restrictive to bring inflation to 2% over a reasonable timeframe. After a sharp decline to near 103.00, the US Dollar is experiencing a slight rebound. Nonetheless, many investors are hopeful that the Fed's interest rates have reached their peak, which could lead to further downward movement. The 10-year US Treasury yields have moderately rebounded to 4.12%. While higher mortgage rates are once again putting pressure on US housing demand, it seems that the most challenging phase of the housing sector's correction has passed due to limited supply. According to property analysts surveyed by Reuters, predictions of a price drop in the housing market for this year have disappeared, indicating that the short-lived correction in the US housing market is now concluded. Looking ahead, investors will be paying attention to the weekly Jobless Claims for the week ending on August 25, as well as the core Personal Consumption Expenditure (PCE) Price Index for July. In conclusion, there's a belief that gold is gaining strength and might experience a potential upward breakout collecting liquidity resting above. This could be accompanied by a minor pullback before continuing its upward movement (see chart for more details).
FX_IDC:XAUUSDLong
by financialflagship
THE ART OF RANGE MANAGEMENT - WITH THE TREND OR AGAINST Hey Everyone, Here at GVFX, we are currently buying dips. What that means is that we buy on the dips and therefore only concentrate on long positions/buys with the odd sells for fun. As mentioned before, having both sell and buy positions open in your account will affect your psychology and in turn, your trading decisions. Now a question that typically arises here is why would it still be advisable to buy when the market is pushing down? Firstly, let me assure you that the same algorithms, experience and strategies that we use to achieve a 97% hit rate with our bullish directional bias also gives us the heads up, or down if you will, on when the market is going down. Don't think for a moment that we only know how to analyse a bull market or up trends. We share targets/signals for both buys and sells but choose not to hedge out of choice. Our published results remain consistently profitable month in month out!! In my experience, in the current market conditions, it is much safer to get out of a stuck buy position than a stuck sell position. That's not to mention the clean PSYCHOLOGICAL PROFILE that is achieved when trading in just one direction. And although hedging can in theory work, it requires years of experience and in the end, is simply not worth the effort. I am more than capable of hedging effectively but the fact that I do not should tell you something. Let us look at an example to further answer the question highlighted above. When you have short-term bearish momentum down, we take buys from key supports or MAs which act as dips. Remember that the market does not go up or down in a straight line (with the rare exception of short-lived parabolic moves). So, when the market is going down and hits one of our key levels, a buy from that point will go back up for 20 to 30 or 30 to 40 pips (this number of pips has been calibrated based on back testing) before resuming back down. You can think of it like this. The market moves in a zigzag manner. The zig is that part of the leg which is going down to create lower lows (if the downward trend is continuing). The zag is that part of the leg which takes a breather and pushes back up with momentum for our entry and quick pip-take range to create a lower high (if the downward trend is continuing) before heading back down again. We catch the right and safest waves (buys) in and out and surf to success. When price hits a key structural support or stops creating lower lows and lower highs, we then reassess for entries with a wider range of pip capture. Hope this post helps our followers to understand how we keep our psychology strong!! GoldViewFX XAUUSD TOP AUTHOR
OANDA:XAUUSDEducation
by Goldviewfx
41
Gold long going to above 2050Gold Price Analysis: Testing Support Levels Amidst Consolidation and Breakout Attempts Technical analysis reveals a retracement in gold, testing key support zones and indicating a healthy consolidation phase before an expected continuation of the uptrend. Gold, FX Empire Gold Forecast Video for 19.06.23 by Bruce Powers Gold rises to a three-day high of 1,986 on Friday before pulling back. It attempted to breakout above the top boundary trendline of a small symmetrical triangle consolidation pattern but is now on track to close below it and within the consolidation range. Attempting to Break Up yet Remains in Consolidation Range So far, Thursday’s test of the 100-Day EMA with a day’s low of 1,925 has held up but further signs of strength are needed. Gold briefly dropped below the 100-Day line earlier in the session on Thursday but managed to close strong, back above it and near the high of the day. The 100-Day EMA is now at 1,940. Further Signs of Strength are Needed Further signs of strength are needed to indicate whether yesterday’s low completes the retracement or further tests will occur. This week’s candlestick pattern is set to close as a bullish doji hammer. Next week an upside breakout signal will occur on a move above the high at 1,971, and the breakout is confirmed on a daily close above that high. Following a move above that high the next weekly resistance levels are 1,973, 1,983, and 1,985. A subsequent daily close above each price level will confirm strength, otherwise some resistance might be seen again around those levels. If Lows Tested Again If lower prices occur before a continuation higher the two potential support zones are around the 61.8% Fibonacci retracement at 1,912, followed by the 200-Day EMA at 1,894. The 200-Day EMA was tested as support with a double bottom in the first quarter of this year price reversed higher from there. Uptrend Intact The current retracement in gold is a test of support around previous high swing high of 1,960 from early-February. So far, the retracement is normal and healthy for the uptrend. Consolidation has been occurring at the 50% retracement area as well as the 100-Day EMA. Notice that there is a greater distance between the 100-Day EMA and 200-Day than what was seen in February. It reflects an improving trend. Once this retracement is complete, all signs are that gold should continue higher. Gold held above $1,950 an ounce on Friday after gaining 0.7% in the previous session, benefiting mainly from the dollar’s weakness as the Federal Reserve paused its tightening campaign at a time other major central banks are still raising interest rates. Still, the metal remains close to three-month lows as the Fed hinted at two more quarter-point rate increases this year, while the European Central Bank delivered another 25 basis point rate hike on Thursday and signaled further tightening. The Bank of England is also set to raise rates again at its June policy meeting, a month marked by surprise rate increases from the Reserve Bank of Australia and the Bank of Canada. Meanwhile, the People’s Bank of China lowered key short-term interest rates this week for the first time in ten months, while the Bank of Japan maintained its ultra-easy monetary policy on Friday. Daily bullish 4H Bullish 34min Bullish Gold is mostly traded on the OTC London market, the US futures market (COMEX) and the Shanghai Gold Exchange (SGE). The standard future contract is 100 troy ounces. Gold is an attractive investment during periods of political and economic uncertainty. Half of the gold consumption in the world is in jewelry, 40% in investments, and 10% in industry. The biggest producers of gold are China, Australia, United States, South Africa, Russia, Peru and Indonesia. The biggest consumers of gold jewelry are India, China, United States, Turkey, Saudi Arabia, Russia and UAE. The gold prices displayed in Trading Economics are based on over-the-counter (OTC) and contract for difference (CFD) financial instruments. Our gold prices are intended to provide you with a reference only, rather than as a basis for making trading decisions. Trading Economics does not verify any data and disclaims any obligation to do so.
CAPITALCOM:GOLDLong
by DaveBrascoFX
weekend trade report A reasonable week turned this week. A return of 3% overall with the automatic trading reaching 6% and the manual trades -3%. This week was a strange week in which the ECB, the BOE and more central banks raised interest rates to ensure that consumers borrow and spend less so that the economy can cool down. On the other side of the big puddle, the FED did a pass on the spot, sending a double signal. Interest rates do not have to go up now, but it will happen again in the coming months. This created indecision on the financial markets. The FED's interest rate pause was immediately overtaken on Friday by disappointing PMI figures. These figures also indicated that the economy is already cooling. In the coming week it will all be a bit quieter in terms of news: Tue Jun 27 14:30 CAD CPI m/m CAD Median CPI y/y CAD Trimmed CPI y/y 16:00 USD CB Consumer Confidence Wed Jun 28 3:30 AUD CPI y/y 15:30 GBP BOE Gov Bailey Speaks JPY BOJ Gov Ueda Speaks USD Fed Chair Powell Speaks Thu Jun 29 All Day EUR German Prelim CPI m/m 14:30 USD Final GDP q/q USD Unemployment Claims Fri Jun 30 14:30 CAD GDP m/m USD Core PCE Price Index m/m When we look at the charts of the different pairs, we see that the EURUSD has lost its chance of a new trend upwards. The rest of the Euro pairs are still in the race for the way up. We all have to watch out for the CAD. The USDJPY seems to have found its way up. The Assie no longer has a trend. It is back in the channel between 0.66 and 0.67. Despite the hopeful rise of the CADJPY, it seems to us to be too high. On a weekly basis, Gold is in a down trend but we put in a Buy last Friday because the economic data turned out in favor of Gold.
by Probeleg
GOLD Price Continues to Drop, Investors Remain Cautious.Gold remains within a bearish channel, and the price is expected to continue dropping after a rebound at the 61.8% Fibonacci level. Our target for the price is around $1928.000. The fundamental analysis of gold indicates that it attempted a recovery after reaching near $1,940.00. It has extended its rebound to around $1,950.00, mainly due to a sharp drop in the US Dollar Index (DXY). The fluctuating nature of the USD Index has made investors cautious, and the absence of significant catalysts this week has limited its movement. S&P500 futures have fully recovered from their previous losses and turned positive, indicating a recovery in market participants' risk appetite. It seems that investors have started dismissing concerns related to potential interest rate hikes by the Federal Reserve (Fed). Although the USD Index has found intermediate support around 103.80, its situation appears vulnerable as market sentiment has become optimistic. Despite the short-term correction, the USD Index is expected to remain strong as the Fed is likely to maintain a hawkish stance. Furthermore, a survey by Reuters suggests that significant weakening of the currency would require rate cuts from the Federal Reserve. Additionally, the Fed is expected to pause in June for the first time in over a year and maintain its key interest rate at 5.00%-5.25% for the remainder of the year.
EIGHTCAP:XAUUSDShort
by FOREXN1
12
Gold (XAUUSD): Key Levels to Watch This Week 🟡 Here is my latest structure analysis for Gold. Resistance 1: 1977 - 1985 area Resistance 2: 1999 - 2010 area Resistance 3: 2034 - 2048 area Resistance 4: 2063 - 2066 area Support 1: 1932 - 1940 area Support 2: 1975 - 1989 area The market is currently stuck within a horizontal range. Its upper boundary is Resistance 1, its lower boundary is Support 1. It looks like after the test of the support, we may expect a bullish movement up to Resistance 1 now. ❤️Please, support my work with like, thank you!❤️
OANDA:XAUUSDLong
by VasilyTrader
7
Gold's Bullish Impulse Meets Resistance at Previous LevelDuring the Asian trading session, gold experienced a bullish surge, retracing towards the previous resistance area. This level may once again act as a point of rebound, potentially intensifying the bearish pressure on the precious metal. The current market sentiment leans towards a rush for safety, leading to increased demand for the US dollar, which weighs on gold prices. Nevertheless, there is some relief for gold as optimism surfaces in the bond markets following the initial response to the agreement among United States policymakers to extend the debt ceiling and avert a potential default. This positive development appears to have established a floor under the price of gold. However, it is worth noting that the XAU/USD bears remain in control, driven by ongoing challenges to market sentiment and a cautious approach in anticipation of significant upcoming data releases and events.
FOREXCOM:XAUUSDShort
by DAY_PROFITS
17
Gold Price (XAU/USD) Sinks Lower, Bearish Trend IntactGold price (XAU/USD) is currently encountering resistance near $1,945.00 during the Asian session. The precious metal is poised to move higher as the US Dollar Index (DXY) has retraced from its recent pullback to around 104.20. The approval of a raise in the US debt ceiling has put downward pressure on the USD index. It is evident that the United States economy may face a downgrade in its long-term credibility by credit rating agencies due to higher debt levels, which increases the risk of default. This development is likely to have a negative impact on the US Dollar Index and US equities, while positioning gold as a safe-haven asset. Consequently, the bullish outlook for the gold price appears highly favorable. From a technical perspective, our analysis suggests the possibility of a new bearish setup if the price manages to break below the dynamic trendline of the bearish triangle. Please note that market conditions are subject to change, and it is important to closely monitor price movements for updated trading decisions.
OANDA:XAUUSDShort
by DAY_PROFITS
14