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Gold Drops $100! Is Now the Perfect Time for a Pre-Rebound Buy?With Trump’s presidency and his economic focus, gold prices have taken a sharp plunge, dropping nearly $100. While I anticipated a decline, this significant drop exceeded my expectations. Fortunately, we managed to close out our long positions above 2700 and also capitalized on a successful sell-off during the New York session. Gold has now fallen below 2660 and remains pressured under the MA5 on the 30M chart. However, I believe a strong rebound is imminent. I estimate that gold could reach a solid bottom around 2646, with a possible low near 2631. On the 1D chart, the MA60 sits at approximately 2618, though I believe it’s unlikely to drop that far today. Today’s plan is to buy on the dip, with an eye on a potential rise to around 2780, after which I’ll shift strategy to selling. By seizing this potential rebound, we stand to capture considerable gains!
FOREXCOM:XAUUSDLong
by Wealth_Waves
Gold Trading Insights Ahead of the Election!Although gold didn’t fluctuate much today, our returns were quite impressive! These small range movements create excellent opportunities for agile buying and selling. As I mentioned yesterday, the New York market did indeed decline today, and the buy signal I provided at the open hit the TP of 2745 perfectly. I then began selling, ultimately closing the trade at 2733 with great results. Tomorrow is the election, and I believe the results will boost the dollar, which could lead to a drop in gold prices. I plan to continue selling during tomorrow's New York session. What do you think?
FOREXCOM:XAUUSDShort
by Wealth_Waves
Clear Outlook for Gold Rebound: Bulls May Retest 2753At today’s opening, gold formed a long lower shadow, indicating that support remains intact. Currently, the MA5 is undergoing a shift from support to resistance, which, if successful, could signal a short-term bullish trend and a potential move higher. I expect gold to approach the MA60, around 2745, followed by a pullback to retest the MA5 to confirm support, potentially reaching 2753. Thus, buy orders placed on Friday may see profits today. However, as we approach the New York session, gold may encounter downward pressure. The daily chart shows a notable bearish divergence, suggesting a long-term trend shift. Barring a major bullish catalyst, this divergence may only resolve through further declines or consolidation. Iran’s possible retaliation could serve as a pivotal event. Meanwhile, tomorrow’s U.S. election is expected to bolster the dollar, potentially adding pressure on gold. Today’s strategy favors buying, but attention should shift to selling opportunities tomorrow.
FOREXCOM:XAUUSDLong
by Wealth_Waves
Gold after U.S. election : Since rising tensions have played a significant role in the recent increase in gold prices, let’s look at each U.S. presidential candidate’s approach to handling these tensions and their future plans. Kamala Harris, representing the Democratic Party, is focused on diplomatic efforts to reduce conflicts in the Middle East. She generally follows the Biden administration's approach, aiming to ease hostilities through aid and international agreements, including a two-state solution for Israel and Palestine. This approach may help stabilize markets by reducing the volatility tied to prolonged conflicts. Donald Trump, the Republican candidate, takes a more aggressive stance. He supports a strong alliance with Israel, endorses military responses to threats from Iran and its regional affiliates, and prioritizes U.S. strength and independence. Trump's “America First” stance could lead to continued or heightened tensions, which historically correlates with higher gold prices due to investor flight to safe-haven assets. In summary: Kamala Harris: Diplomatic de-escalation, which may stabilize gold prices. Donald Trump: Military strength and strong alliances, likely to keep prices high in case of increased tension. These policy differences could significantly impact markets depending on which candidate wins. Please support us by liking and leaving comments!
OANDA:XAUUSD
by habib75rajabi
Study of DXY, Gold, and Fed Fund Rates using 200MA indicatorBlack line: DXY (U.S. dollar index) Green line: DXY 200 week moving average Yellow line: GC (Gold futures) Blue line: DFF (U.S. Federal Funds Effective Rate) Since 1971 when U.S. dollar went off the gold standard, there have been 6 instances when the DXY crossed below its 200 week moving average while it was rising. At closing on 27 September 2024 was the 7th instance of this DXY crossing. Of interest: Performance of gold when DXY crosses below, until DXY reaches a local minimum. Results are highlighted in purple boxes. Of the 7 instances, interest rates were rising in 4, flat in 1, falling in 1, and presumed to be falling in the current scenario. The only rising rate period was 1985-92, when gold had a very marginal 4% gain. This was notably on the backside of the 1970's high inflation period. Technically, gold showed gains in all but 1 of these historical periods, with 1994-95 showing a 2% loss. Conclusions: 1) DXY trend reversal downward is not always, or often, associated with a U.S. interest rate cutting cycle nor is it strongly correlated with gold price gains. 2) The start of a U.S. interest rate cutting cycle is not predictive of gold price gains.
TVC:DXY
by StrobeT
Gold: Corrective Rebound Expected Before Further Decline Yesterday, gold experienced extreme volatility, surging before a sharp sell-off. Today, the market should see less fluctuation as much of the news has been priced in. However, another key report is expected during New York trading hours, and I believe short positions will be more favorable following its release. Before the data comes out, a long position could be effective, given the steep decline yesterday. There is likely to be a corrective bounce as buyers step in to capitalize on the sharp drop, so I see going long ahead of the news as a good move.
FOREXCOM:XAUUSDLong
by Wealth_Waves
8.28 Gold operation analysisGold hit the upper Bollinger Band in 4 hours, and the long orders at 2507 have made profits first. It is expected that gold will retreat to the vicinity of the middle band. Today, gold is likely to hit a new record high again. The daily line has three consecutive positives, and the bulls are ready to try to break the record high. The conservative approach is to wait for the gold price to fall back to the middle band again before we go long. In the strong upward trend of gold, do not buy the callback, and go long at will. Technology leads the direction, ideas lead the market, and accurate points are the key to success Trading strategy: Long gold near 2505, stop loss 2495, target 2540
TVC:GOLDLong
by David_strategy
1
Gold short-term operation analysis suggestionsGold fluctuated and rose under the speech of Fed Chairman Powell, rising from 2504 all the way to 2516, an increase of 12 points, and then consolidated and tested back and forth, but failed to reach the resistance point of 2520. Powell made it very clear in his statement that inflation is falling. In addition, the Fed believes that inflation will continue to fall and employment has not been adversely affected. Powell wanted the market to know that the Fed was not behind the curve. By clarifying the possibility of a rate cut in September, Powell is actually cutting interest rates a month in advance. The timing of the first cut is clear, and the magnitude is still in suspense. I don't think the Fed will suddenly cut interest rates by 50 basis points. Slow and steady is the way the Fed hopes to implement easing policies in the early stages. Resistance level 2520 2530 2550 Support level 2505 2500 2490
TVC:GOLDLong
by David_strategy
8.23 Gold Short-term AnalysisGold fell all the way to 2475 after the release of the number of people applying for unemployment benefits in the United States on August 17 at 10:00 Eastern Time, and then rebounded slightly and is currently trading around 2493. Piovano pointed out that the market's attention is still focused on the speech of Federal Reserve Chairman Powell in Jackson Hole. This will determine whether gold can stand above the new historical high of 2530 or fall below the third support line of 2450. Support level: $2470.85/ounce; $2450.22/ounce; $2430.35/ounce Resistance level: $2519.18/ounce; $2531.76/ounce; $2535.00/ounce Do you have any different opinions and suggestions on gold? Please like and comment
TVC:GOLD
by David_strategy
8.22 Gold Operation AnalysisGold fluctuated and fell during the European session after the release of the US weekly jobless claims data on August 17. It has now fallen below the support line of the lower Bollinger band of 2485. The data is lower than expected. Gold should have been bullish, but it fell instead of rising. For this situation, my personal analysis is that the bulls may be accumulating momentum to fall back and rush higher. The long-term trend of gold is definitely rising, but it will inevitably fluctuate and consolidate in the medium term. Key resistance levels are 2498, 2512, 2522, and 2530. Key support levels are 2483, 2473, 2463, and 2450.
TVC:GOLDLong
by David_strategy
8.22 Gold Trend Operation AnalysisThrough the analysis of automatic trend lines and trend charts, we know that gold has rebounded from the 2499 line below in the early trading. It is still a little short of the first support level below. The short-term 2508 line has become the critical point between long and short positions. The short-term upper 2518 line is the first pressure level. In the short term, it will continue to fluctuate and consolidate in this 20 US dollar space. In terms of operation, we continue to focus on buying on dips with the idea of ​​high-altitude and low-multiple. Short gold at 2518, stop loss at 2526, take profit at 2500; Long gold at 2498, stop loss at 2490, take profit at 2513. What are your different views on gold? Welcome to like and comment
TVC:GOLDLong
by David_strategy
8.2 Analysis of gold trend operationAfter hitting the peak of 2530 on the 20th, gold fluctuated at a high level and finally quickly pulled back. Currently, it is 2505 points. Yesterday, gold failed to hit 2530 several times. The last time it hit 30, it quickly fell back. This also shows that the bulls may continue to hit the high point after the pullback. The key downward support point is 2500. If it falls below 2500, look at 2490 / 2480 below. Resistance points are 2520, 2530, and 2550. What do you think about gold? Welcome to like and comment.
TVC:GOLDLong
by David_strategy
8.20 Gold Trend Analysis2500 Golden Era has officially stabilized and will move towards 2600 in the future Gold fluctuated and jumped from a low of 2486 to 2510 during the European session on Monday The bulls are still continuing today. Currently, the gold price is trading at a high of 2523. On the Bollinger Bands, gold is below the middle track. The hammer line is long. If it touches the bottom, it can be bullish In addition to the geopolitical situation, everyone is currently pinning their hopes on the trend of gold on Friday when Fed Chairman Powell will give a speech on the economic outlook at the Jackson Hole Annual Meeting Support level 2515 2510 2500 Resistance level 2525 2535 2550
TVC:GOLDShort
by David_strategy