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XAUUSD: Buyers still have a chance.The price started the week with a spike near the dynamic resistance at $2670, but quickly retreated after the reaction, currently at $2653 and down 0.17% on the day. Although the price of gold has been slightly negatively affected by the market after lacking the momentum and fundamental news to break above the psychological resistance at $2700, this can be seen compared to the 2685 setup. However, the outlook for the metal remains bright at high prices, despite profit-taking from the market. The only concern from the market going forward is the NFP news, which, coupled with concerns about the situation in the Middle East and interest rate cuts and expectations of further adjustments in the future, will have a positive impact on the price of gold. Traders can consider buying when the price drops to the support level around $2625.
OANDA:XAUUSDLong
by ConanTradingFX
Gold prices tend to decrease at the weekend!Hello everyone, Conan here. Today, gold prices are showing a downward trend. After failing to break through the resistance levels of 2670 - 2680, the price has started to decline and is currently trading around 2658 USD. This drop has been supported by some USD buying activity, which tends to weaken demand for this commodity. Additionally, the optimistic market sentiment, fueled by new stimulus measures from China, turned out to be another factor pushing money away from the safe-haven precious metal. As seen on the 1-hour chart, gold prices are still reacting around the EMA 34, and the descending wedge pattern remains unbroken, indicating that the downtrend is not over yet. Based on these factors, in my personal opinion, gold prices are likely to continue falling in the near future, possibly reaching a lower level around 2640 USD.
OANDA:XAUUSDShort
by ConanTradingFX
GBPUSD analysis week 40Fundamental Analysis According to CME Group’s FedWatch Tool, the market is currently pricing in a more than 75% chance of the Federal Reserve cutting interest rates by another 50 basis points in November. In addition, weaker US macroeconomic data on Tuesday, coupled with the prevailing risk-on environment, further undermined the safe-haven dollar and confirmed the positive near-term outlook for GBP/USD. Going forward, there is no market-relevant economic data due out of the UK on Wednesday. However, a scheduled speech by BoE MPC Member Megan Greene could influence GBP and provide some impetus to the GBP/USD pair. Later in the early North American session, US New Home Sales data could contribute to short-term trading opportunities. Technical Analysis GBPUSD’s trading range has remained largely unchanged over the past week. With little technical movement we still see the pair in a solid range of 1.323 and 2.349. In the short term we can see that the immediate support zone has been raised after the price reacted strongly at 1.331 and the resistance level forming a triple top around 1.342 has been established. The GBPUSD direction could continue the correction early next week and reach the yearly record around 1.350 in the near term. Trading signals SELL GBPUSD zone 1.349-1.351 Stoploss 1.353 BUY GBPUSD zone 1.323-1.321 Stoploss 1.319
by TVS-Trader
1
World gold may reach 2,700 USD this weekendHello everyone! Recently, gold prices have increased sharply, nearly 570 USD/ounce, after the US Federal Reserve decided to cut interest rates by another 0.5%. Currently, gold is on track to reach a new high, expected to reach 2,700 USD/ounce. The upcoming important event is the US presidential election, which can create many unpredictable fluctuations in the market, which will further promote gold as a safe haven channel that many investors prioritize.
OANDA:XAUUSDLong
by ConanTradingFX
XAU/USD 27 September 2024 Intraday AnalysisH4 Analysis: -> Swing: Bullish. -> Internal: Bullish. Price has continued to surge printing all time highs with price pulling back very minimally. Price has printed a further bullish iBOS. Bearish CHoCH has been printed indicating bearish pullback phase initiation. We also have established an internal range. You will note the internal range has extensively narrowed, allowing price to confirm swing pullback phase by printing bearish iBOS. However, we remain bullish. Intraday expectation: Price to target weak internal high, however, due to the narrowing of the internal range and all HTF's requiring pullback, it would not be unrealistic is price printed a bearish iBOS. H4 Chart: M15 Analysis: -> Swing: Bullish. -> Internal: Bullish. Intraday expectation was met with price printing bullish iBOS. Price is now contained within an internal range and is in discount of internal 50% EQ. Intraday expectation: Technically price should target weak internal high. Expecting reaction from discount of 50% EQ or M15 demand zone. Alternative scenario: Due to all HTF's requiring a pullback, it would not be unexpected if price prints a bearish iBOS. M15 Chart:
OANDA:XAUUSD
by Khan_YIK
Gold Price Analysis September 27Fundamental Analysis Gold (XAU/USD) attracted some sellers over the weekend and fell further from its all-time high, around the $2,685-$2,686 region hit on Thursday. The decline was financed by some buying of the US Dollar (USD), which tends to weaken demand for the commodity. In addition, the bullish market mood, fueled by China’s new stimulus measures, turned out to be another factor driving outflows from the safe-haven precious metal. That said, expectations of a more aggressive easing policy from the Federal Reserve (Fed) kept the USD confined to a familiar range that has been maintained for about two weeks and within striking distance of the YTD low set last week. This, coupled with the risk of further escalation of geopolitical tensions in the Middle East, should limit losses for Gold. Traders may also prefer to wait for the release of the US Personal Consumption Expenditures (PCE) Price Index. Technical Analysis Currently, the trading range of gold is very wide. and Gold can make an ATH at any time during this period. The lower border area is focused on ports 2650 and 2640. The upper area of ​​ATH is focused on the round ports 2690 and 2700. If gold holds above the 2662 hook until the middle of the US session, we can still set up buy orders in this area to the upper resistance areas, and if it breaks 2662, wait for retest and sell to 2650-2640 BUY XAUUSD 2651-2649 Stoploss 2646 BUY XAUUSD 2641-2639 Stoploss 2636 SELL XAUUSD 2688-2690 Stoploss 2693 SELL XAUUSD 2699-2701 Stoploss 2704
OANDA:XAUUSD
by TVS-Trader
Gold prices continue to hold high amid profit-taking pressureHello everyone, let’s join in analyzing today’s gold prices! XAUUSD is continuing its strong uptrend, currently trading around $2,659. In the short term, the bullish momentum is clear, with the trendline, EMAs, and other technical factors all supporting buyers despite previous pressure. However, with the profit-taking resistance still intact at $2,670, buyers may significantly weaken, especially with today’s scheduled news, which could cause major volatility. Traders might consider selling if the price forms a double top around $2,670, with a target of $2,625. SELL GOLD: 2670 - 2672 STOPLOSS: 2675 TP: 2640 , 2625 Wishing you all successful trades and great profits!
OANDA:XAUUSDShort
by ConanTradingFX
Gold Price Analysis September 25Fundamental Analysis Gold rose to a fresh record high of $2,670 an ounce on Wednesday after a surprise drop in U.S. consumer confidence data on Tuesday raised expectations of more aggressive policy easing and deeper interest rate cuts from the Federal Reserve. Lower interest rates are good for gold because they reduce the opportunity cost of holding non-interest-bearing assets, making it more attractive to investors. The People's Bank of China's biggest stimulus move since the Covid pandemic announced on Tuesday, which included steep cuts in borrowing costs as part of a package of measures to revive the slumping economy, also supported gold prices. Escalating tensions in the Middle East after Israel resumed bombing Hezbollah targets in Lebanon further boosted safe-haven flows into the yellow metal. Technical Analysis Gold is sideways in a narrow range and waiting for clear buying and selling forces at the support level of 2650 to see how the price reacts when the US session enters. If it cannot break through 2650, a new ATH can be established today. Pay attention to the resistance zones at the top of 2670-2680 and see the price reaction in this zone to SELL. Important support is at the 2640 zone Trading signals BUY GOLD zone 2650 SL 2645 BUY GOLD zone 2640 SL 2635 SELL GOLD zone 2670 SL 2675 SELL GOLD zone 2680 SL 2685
OANDA:XAUUSD
by TVS-Trader
XAU/USD 25 September 2024 Intraday AnalysisH4 Analysis: -> Swing: Bullish. -> Internal: Bullish. Price has continued to surge printing all time highs as US economic data and geopolitical tensions have influenced market sentiment which typically supports Gold prices. Therefore, price is expected to remain highly volatile. Price has printed a bearish CHoCH, we therefore have established an internal range. Intraday expectation: As price has made it's first indication of pullback by printing a bearish CHoCH, this could potentially initiate H4 pullback phase with price pulling back to discount of internal 50% EQ or H4 demand zone. H4 Chart: M15 Analysis: -> Swing: Bullish. -> Internal: Bullish. Yesterday's intraday analysis was correct as price did target weak internal high, printing a further bullish iBOS. Price is now contained within an internal range and is in discount of internal 50% EQ. Intraday expectation: Technically price should target weak internal high. Expecting reaction from discount of 50% EQ or M15 demand zone. Alternative scenario: Due to all HTF's requiring a pullback, it would not surprise me if price printed a bearish iBOS. M15 Chart:
OANDA:XAUUSD
by Khan_YIK
Will Gold Break Resistance at $2,670?Hello everyone, Today, the price of gold (XAUUSD) continues to hold steady around the highs, with the resistance level of $2,670 on the 4-hour chart still intact. Currently, gold is hovering around $2,653, down slightly by 0.14% on the day. On the technical chart, it is worth noting that the resistance at $2,670 may be under pressure from profit-taking after yesterday's action. The RSI is trending down, although the price is still supported by the 34 and 89 EMAs, with a dynamic support level around $2,610. The rising DOW also suggests that the price of gold will continue to rise without any significant reversal signs. Based on the Fibonacci level, if the rally continues, the next recovery level could be $2,625 (0.618). New take profit level to watch: 2743 Support level to watch: 2625, 2611 What do you think about this assessment?
OANDA:XAUUSDLong
by ConanTradingFX
XAUUSD / TRADING UNDER BULLISH PRESSURE - 4HXAUUSD / 4H TIME FRAME HELLO TRADERS Gold prices have reached $2,630, driven by the conflict in the Middle East. Trading above $2,600 indicates a current bullish sentiment, with a price increase of 1.20%. If gold continues to rise from the current level, it is expected to increase by an additional 2.21%. If gold breaks below the $2,600 support level, it suggests potential declines: A 1.80% decrease . A more significant decline of 2.70% . Technical Analysis: 1. Current Market Condition: The asset is under bullish pressure , As long as the price remains above 2,600$, the bullish momentum is expected to continue. 2. Upward Condition: - Target 1: If the price trades above 2,620$, it's expected to rise to 2,635$. - Target 2: If the price stabilizes above 2,635$, the next target is 2,657$. 3. Downward Condition: - If the price falls below 2,620$ , it suggests a potential decline: - Target 1: A decline to 2,610$. - Target 2: If it breaks below 2,610$, further decline is expected to 2,600$.
OANDA:XAUUSDLong
by ArinaKarayi
Gold price analysis September 24Fundamental Analysis Gold prices fell after hitting a fresh all-time high around the $2,640 region on Tuesday and slid to the lower end of its daily range heading into the European session. Rising US Treasury yields helped revive demand for the US Dollar (USD), prompting some profit-taking around the commodity amid a mildly overbought condition on the daily chart. However, any meaningful corrective decline in Gold prices appears to be limited after the Federal Reserve (Fed) stepped up bets on more aggressive policy easing. Additionally, persistent geopolitical risks, US political uncertainty and a gloomy global economic outlook will support the safe-haven XAU/USD as traders look to Fed Governor Michelle Bowman’s speech for fresh impetus. Technical Analysis Gold retreats from the 2640 peak. Technically, wave 5 of the Elliot wave has completed and the ABC correction wave is forming towards 2604. If the 2624 zone where gold is currently located is broken, we will get the 2603 level when the US session jumps in. If the European session price cannot break 2625, we will still wait and prioritize the sell side when retesting the 2640 peak. The 2593-2595 zone is considered a good buy zone. Upper resistance: 2640 - 2645 - 2650 - 2658 Support: 2615 - 2610 - 2605 - 2600 - 2688 - 2657 Sell 2654 - 2656. Stoploss 2659 Sell 2640-2642. Stoploss 2445 Canh BUY scalp 2615 Canh BUY 2604 - 2606. Stoploss 2600 Canh BUY 2593-2595. Stoploss 2590
OANDA:XAUUSD
by TVS-Trader
2
Gold is waiting for something to correct?Hello everyone, What do you think about gold prices? Currently, gold prices today continue to show strength as gold is trading around $2629. It is clear that the metal is still showing strength based on the breakout last week. The reason for the increase in the metal is that the looser-than-expected monetary policy of economists and the forecast of further cuts boosted the demand for gold, a hedge against risk. However, the US 10-year government bond yield increased, making the gold market more cautious. At that time, a clearer view of the direction of gold will become clear. Today we have some important milestones: XAUUSD sell zone 2650 - 2652 XAUUSD buy zone 2629 - 2627
OANDA:XAUUSDShort
by ConanTradingFX
Gold prices continue uptrend from $2600Conan, hello everyone! Today, gold prices continue to show strength, maintaining an UPtrend with an important resistance level at $2636, but have not been able to break it yet. Currently, gold is trading around $2629, up slightly by 0.03% on the day. In the coming time, this uptrend is likely to continue, supported by the Fed's decision to cut interest rates and geopolitical uncertainty. Technically, $2602 is forming as an important support in the uptrend channel. After consolidating here, we can expect gold prices to reach the first profit-taking target at $2690, corresponding to the Fibonacci level of 1.618. Stay tuned to capture these potential trading opportunities!
OANDA:XAUUSDLong
by ConanTradingFX
"Gold Approaching Peaks: What Lies Ahead in the Market?"Gold (XAUUSD) is under pressure amid the strengthening U.S. dollar at the start of the week. After briefly testing last week's highs, the precious metal appears to be forming a false breakout. While the overall trend remains bullish, anticipation of significant news may lead to a brief moment of volatility and market anxiety. The rising yields on 10-year U.S. Treasury bonds, driven by declining interest rates, have provided further momentum to the dollar. This development adds an element of unpredictability to the market, as the movements deviate from what many analysts had been expecting. The upcoming direction for gold will largely hinge on key Eurozone and U.S. PMI (Purchasing Managers' Index) data. If these reports reignite recession fears, the strengthening U.S. dollar could shift the current market dynamics and trigger a new wave of correction in gold prices from their recent highs. Additionally, escalating geopolitical tensions in the Middle East remain a critical factor that could influence market sentiment. On the technical side, gold faces immediate resistance at the 2625, 2631, and 2650 levels, while support can be found at 2614, 2602, and 2589. There is a possibility of a correction from the 2625 level, as market conditions suggest a buildup of uncertainty ahead of upcoming economic announcements. Profit-taking could exacerbate this correction as traders look to secure gains ahead of potential market shifts. However, if gold continues its upward momentum and successfully breaks through the 2631 resistance, this could pave the way for a move towards the 2640-2650 range, opening the door for further gains. Traders, if you found this idea helpful or have your own insights to share, feel free to drop a comment. I’d love to hear your thoughts!
OANDA:XAUUSDShort
by lonelyPlayer0
XAUUSDConan, hello everyone! Gold (XAU/USD) maintained its bullish momentum and traded at a fresh record high above $2,610 on Friday. Rising expectations that global central banks will follow the Fed in easing policy and cutting interest rates have boosted XAU/USD. However, a close look at the short-term chart shows that the yellow metal is struggling to capitalize on the immediate support at $2,618 to break above the resistance at $2,625 ahead of the weekend. Both the short-term and medium-term outlooks suggest that the bears are gradually gaining strength. The Relative Strength Index (RSI) is trending down in the bullish zone, indicating a potential momentum shift and a resumption of the correction. Current support is at $2618, if this level is broken the price will drop rapidly towards the targets to watch at $2610 and $2605.
OANDA:XAUUSDShort
by ConanTradingFX
XAUUSD Big Move Will be there? | 2h Analysis Hello, community! 👋 How are you all doing this week? I hope you’re ready for some insightful trading opportunities. Let's dive into the analysis for XAU/USD (gold), as it looks promising for a bearish trend. Market Overview This week, XAU/USD is presenting a potential bearish scenario. After observing the current market conditions and price action, I’ve identified a key resistance level at 2641. This level is critical for our bearish outlook, and I’ll explain the setup in detail. Key Levels Entry Level: 2641 First Target: 2603 Second Target: 2580 Third Target: 2547 Stop Loss: 100 pips above the entry (approximately 2741) Trading Strategy Entry Confirmation: Wait for a clear rejection (chock) at the 2641 level before entering the trade. This confirmation is crucial to ensure that the bearish momentum is established. Target Management: The first target is set at 2603, which is a realistic point to take partial profits. The second target at 2580 provides a further profit-taking opportunity as we approach the anticipated bearish trend. Finally, the third target is 2547, representing a solid point for potential further downside. Stop Loss Consideration: Place a stop loss 100 pips above the entry level, allowing for some volatility while protecting your capital. This positioning ensures that any unexpected bullish movement does not significantly impact your account. Conclusion In summary, the bearish outlook for XAU/USD appears favorable this week, with strategic entry and exit points. Remember to wait for that crucial rejection at 2641 before executing the trade. Let’s stay disciplined and focused, and I wish everyone a week full of profitable trades! 🌟 Feel free to follow for more insights and updates! Happy trading! 📈
CAPITALCOM:GOLDShort
by HouseofProfit