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GOLD bulish target 1550 the Federal Open Market Committee (FOMC) reduced the target range for the federal funds rate to a range of 1.50% to 1.75%. As in the previous decision, Esther George and Eric Rosengren dissented in favor of leaving the rate unchanged. In line with the September statement, today’s release characterized the labor market as strong and “that economic activity has been rising at a moderate rate.” However, it also noted that business investment and exports “remain weak.” The statement once again pointed to global developments as well as muted inflation pressures as reasons for cutting rates. However, it removed from the statement the proviso that it will “act as appropriate to sustain the expansion, “noting simply that “it will continue to monitor the implications of incoming information…as it assess the appropriate path of the target range for the federal funds rate.” Analysis GOLD H1 has reversal pattern, bulish englufing gold candle appeared to confirm the uptrend. Today's buying strategy buy limit GOLD 1491.68 SL 1489 TP 1506 Signal short : GOLD buy 1494 TP 1501 SL 1492
TVC:GOLD
by MCHTRADING
1
Gold BULL CASE BREAKING ABOVE $1,600Here I have posted a chart on gold... A LONG TERM VISION. Daily gold trend is still intact however what concerns me is that 4 hour time frame has flipped bearish. This may not be a problem as gold is being supported heavily by the 50 day moving average as well as the KUMO cloud. I am currently on the sidelines we should get a clearer vision of the future as the FOMC meeting is an hour from now. Let's see if we crash below $1,450 or does this break the strong weekly resistance zone at $1,550.....
FOREXCOM:XAUUSDLong
by SageinSingapore
XAU/USD GOLD LONG H4,D1 12.9.2019Technical standing Gold is in strong uptrend since breaking 6 years high in mid-June. Currently gold is in correction phase. On the H4 chart, I marked my support zone from 1480 to 1498. In today`s trading sessions we could see Gold going up too 1524 and immediaetly retracing down to 1498. Now Gold is currently sitting on 1498, top of my support zone which is lined up with trendline as you can see on given example. In further days I will be waiting for a price action signal in my support area to take gold up to 1543-1555 where I marked resistance area. If resistance area will be broken I am expecting to see Gold around 1600. Fundamental view Next week we expect a rate cut from FED for quater basis points, which will have a big impact on gold. As things around Brexit standing now Great Britain and EU have no deal, so Great Britain could exit from EU without deal, so I believe this scenario will help push the Gold price up. The last big global event that are correlated whit Gold is US-China Trade war on tariffs. With FED rate cut, so much indecisiveness with Brexit, US-China trade war and upcoming Global economic crisis I believe Gold will continue his uptrend.
OANDA:XAUUSDLong
by NecP
Gold: 70% Chance of 1524+ Tomorrow; 1540 Near-TermToday the main indices fell rather abruptly due to an algo sell off from payroll cuts possibly from Trump in the last hour. However, volatility in the main indices will likely continue as we failed to test 26,500 for example on the Dow. What this means is you can expect a downtrend in the main indices. Importantly, I am expecting the Fed to be dovish on future cuts but not for September. This will likely trigger a hard sell-off after he speaks tomorrow (Wednesday). How does this relate to Gold? Two-fold. The expectation of likely cuts sometime other than September will likely slowly devalue the USD (DXY) and in the long-run of course, increase Gold's value. This sell-off will likely intrigue people into buying more Gold and the algo bots will continue to slowly add entries. The PCC ratio continues to fall which means more people are selling the highs, rather than buying for the next "bull-run". My TP for tomorrow conservatively, is 1524-1528 +/- 3pts (i.e. 1521-1531), with 1540 not too far away. Remember all those times I said not to panic sell because of the recent fake bear flag to 1484 (and the other fake bear flag a little while ago to 1402)? This is why. - zSplit
FX:XAUUSDLong
by PaulDeep19131
1
Gold: Low to Mid 1400s Near-Term Like People Say? UnlikelySince Gold has been moving somewhat sideways over the last week, a lot of people are being extra bearish and stating we will go back to the low to mid 1400s. What do I think? The reason I personally find this to be unlikely is that we will likely find sufficient algo buyers from the 1500 level to keep the prices at/above 1500. Contingent on geopolitical tensions, monetary policy easing (QE), trade uncertainty and many other issues, I see no reason for Gold to fall sub 1500 considering our last 'correction' formed a bottom at 1484 before rising back to 1500+ the same day. Metallics typically trade in a way such that corrections on the current leg up are the lowest of the leg. That is, 1484 should be the lowest price for this current leg unless something exceptional happens that no one expected. While it is certainly possible to have another bear flag at 1499-1500 before spiking back upwards, I see this as only a potential, rather than for certain. It is also important to keep in mind that metallics phase down to appear bearish before entering a second leg up. Therefore, on a technical analysis standpoint, just because Gold may-be trending slightly down, that does not equate to an indefinite downward trend. If you look at every slight leg up, or major leg up, Gold and Silver will always form somewhat of a downward/downtrend triangle before spiking to a new leg. What about people saying how this rally is overbought? It doesn't matter. Every major rally in the metallics has been overbought, and in actuality, most rallies in most stocks are overbought. Something being overbought can remain overbought for days, weeks or even months. This is why RSI is oversimplified and minutely used by pros as a sole oscillator for forecasting and predictions. My near-term target still remains around 1540, although a retracement upon Sunday open to 1510, or even 1500 is possible, although again, not for certain. Important Metallic Volatility Dates To Note: 1) August 19th -- Huawei 2) Sept 1st -- China Tariffs 3) Sept 12 -- ECB Easing 4) Sept 18 -- FOMO Easing 5) Oct 1 -- US Gov. Shutdown Unless Bills Agreed To 6) Oct 15 -- 3rd Quarter Earnings 7) Oct 31 -- Brexit Deadline All of the above have the potential to continue to drive Gold/Silver significantly higher. -- zSplit **Drag and zoom around the "idea" to see all information, dates and TPs
FX:XAUUSDLong
by PaulDeep19131
3
Gold: 1535 Approaching; Still a Perma Bear? BAD Choice...Remember the last and recent fall to 1484? I said not to worry and that was for a good reason. While people on this website have been bearish forever on Gold and Silver - just waiting for the price to plummet into the 1300s, I am happy to say its not happening. In fact, its time to seriously start considering going long in Gold and Silver if you have not already done so before FOMO sets in and you start seeing daily 2.5-3% gains on the metallics. Once we reach 1600 in Gold and 18 in Silver, you will see massive moves to the upside with lesser and lesser retracements as we push our way through most of the heavy resistances that were present in the 1300s, 1400s and 1500s. We are quickly approaching 1535 with 1550 within the next week or two depending on geopolitical, political and economic news. I see some retracements still possible from the 1550s and 1580s however it will be "news dependent" and nothing drastically significant. My advice is to ALWAYS check people's "history" of ideas when using their advice for actual trading - especially with your hard earned money on the line. It is important to look for consistency and accuracy over MANY ideas: not just someone with the most "followers". Clearly for those looking at Gold and Silver, 98% of this platform (and even on TV) have been wrong otherwise we wouldn't have made it close to 1500 a long time ago. - zSplit
FX:XAUUSDLong
by PaulDeep19131
1
Gold: 1535 Coming Up. 1550 Near-Term But Not Quite Yet.We have clearly surpassed the 1515 line that I predicted by my lonesome yesterday, and we will now be off to re-test our high before the correction (1533-1534). Once we initially re-test this value, we will likely quickly re-trace to about 1525-1528 and then a few hours later end up surpassing 1533-1534. Once we top this value, my next major target will be 1550. Based on the fact that we had a major correction from 1533 to 1484 not too long ago, it is unlikely will we see a large retracement. There is a potential we retrace from 1580 to 1550, however. From that point, I expect a movement to 1600. Once we top 1600, you can expect large moves to the upside. As I always say: focus on the geopolitical and political headwind domestically and globally. For those who are perpetually bearish on Gold and Silver, the answer is simple; people have no clue how to trade metallics. Those who are perpetually bearish are only as so because they cannot believe Gold and Silver are set for historic runs. Instead, they fail to focus on the reasoning behind their runs and paint metallics as a typical stock. Remember..Gold and Silver never move linearly. Be patient. - zSplit
FX:XAUUSDLong
by PaulDeep19131
1
Gold: 65% Chance of 1515+ By End of TomorrowIn history, after sharp corrections and oversold Gold (lesser extent for Silver but similar idea), is that we often see a retrace to the value before the corrective value within 24-48 hours. In this case we could get close to 1520+ tomorrow (minimum 1510-1515), as Gold plummeted on the daily to as low as 21-22 RSI. While I am not a fan of RSI in general as it is grossly oversimplified, it is useful for vast differences on the overall trendline. For those who are shorting, I would caution you to END your shorts, as Gold has failed to break 1484 which is now proven as a new low (but a drastically higher low compared to the last corrective low at 1402). As I am writing this, we have now re-tested 1495+ and the trend is now bull especially if we hold 1500. Over the next two weeks look for some geopolitical/political headwind to take Gold to 1550-1560 then eventually off to 1600 over the next 2 1/2 - 3 1/2 weeks AFTER we hit 1550. One must keep in mind three additional facts: 1) Given the strong gains in the US indices, the treasuries failed to make significant ground. 2) Given the halt (temporarily, at-least) in US tariffs on China, Asian gains are very muted. Normally with news like this, the Hang should gain 2% or more. 3) Watch for the possibility of China to not discuss trade in September with the USA, resulting in tariffs being threatened once again and all US indices giving back recent gains. One must also keep in mind (very important): A) Once the 2YR goes above the 10YR treasury in the US there will be a massive algo sell-off and that will likely be the driving force to take Gold over 1600 and Silver over 18 whenever that happens - watch the timing! - zSplit
FX:XAUUSDLong
by PaulDeep19131
5
Final Stand Before Bull Market!!So far so good, as I've mentioned in my previous chart of gold, we probably won't see 12xx prices ever again. By breaking the remaining resistance line gold will officially enter bull market which will stay for foreseeable future. Everything is ready for it, technical and fundamental wise. back in old days of bitcoin, we were saying will it catch gold or at least goes for parity?! now for gold, will it catch bitcoin?! or goes for parity?!!! :D
FX:XAUUSDLong
by TheRealJohnConnor
Gold All Set to "Tip-Toe" to 1700+ by Q2 2020.Many people over the past several months have been thrilled about Gold finally rising from the dead of nearly six years of doing virtually nothing - and rightfully so! Prices have been able to maintain above the psychological value of 1400 despite ATHs across many world indices. Even after at times, global tensions have waned, and monetary policy has prolonged easing, Gold has remained mostly stable - and above 1400. Contrary to popular belief and compared to many stocks and equities trading on the traditional indices, focusing on quantitative analysis and mathematical patterns are not the only important factors for Gold (and other metallic earth materials); geopolitical, political and global monetary policy have tremendous impact and relevant importance. Although I can list out a large ingredient list of various reasons why Gold will likely soar late 2019 through 2020 and likely into 2021, one of the most prominent reasons will ultimately be as a result of world-wide currency devaluation to overextend and squeeze markets higher, and monetary policy easing. In future posts, I will go into deeper detail why monetary policy patterns matter tremendously for Gold and other metallics, as well as, other reasons for why Gold will rise. Key Retracements: 1) Monday to Midday Wednesday: Gold likely in the 1414-1428 range with possibly bottoming out at the most recent bottom of around 1412; ticking slightly lower to 1408-1410 is a risk but a very low one. 2) Near-term (main patterns to expect from current date and onwards): ~1418 (current) --> 1408-1412 (possible for early-mid Monday) --> 1414-1428 from late Monday through mid Wednesday, then to: ~1450 --> ~1428 then, ~1428 --> ~1495 then, ~1495 --> ~1441 then, ~1441 --> ~1500+ with significant up-trends once 1500 is reached. **Note: Metallics NEVER move linearly and there will be a handful of stronger retracements until 1500 is reached. While my view is assuming a minimum 25bps monetary easing by the Federal Reserve this coming week, even if they come to the conclusion of holding steady (which is extremely extremely extremely low at this point), this would only prolong Golds bull run temporarily - not permanently halt it as global easing is inevitable from Q4 2019 through 2020. Should the Federal Reserve deeply surprise everyone and hold steady despite their most recent discussions and testimony, my posts timeline can be extended into the future by 3-4 months but remain intact. - zSplit
FX:XAUUSDLong
by PaulDeep19131
1
Long term vision on GOLDOn the longer timeframes (1 month) gold broke the horizontal resistance based on the top of summer 2014, July 2016 and around February 2018. For now, it looks the month candle is still trading above the resistance line but, we have one trading week left before the candle closes. So to be safe, wait for one more week, and if price is above resistance line, it's a good opportunity to open a long trade. The more aggressive traders can start building up the positions now, offcourse withe stops below the resistance line. You want to keep the risk low, because it's not been said yet that it's a real break out. Options for fake break out, or stop loss hunt, are still open. This technical long vision also perfectly comes together with the fundamentals: " President Donald Trump said the U.S. will impose major new sanctions on Iran Monday, days after he abruptly called off a plan for airstrikes against the Islamic Republic based on the concept of proportionality after Iran shot down a U.S. Navy drone. " - source Bloomberg " Gold (XAU/USD-spot) closed around 1399.43 in the U.S. session Friday, soared almost +0.63% on safe-haven appeal amid U.S. allegation of oil tankers attack by Iran coupled with lingering suspense about U.S.-China trade war. A full-fledged trade/cold war is positive for tariff/imported inflation and also positive for the precious metal as an “inflation hedge”. Gold is also boosted by a deluge of soft U.S. economic data and hopes for two Fed rate cuts in 2019 and one in 2020 amid an intensifying Trump trade war and the probability of an U.S./global economic slowdown. " - by Asis Ghosh on iforex
OANDA:XAUUSDLong
by DutchFXtrader
Gold flying to the moonWe all thought gold was gonna go down because of the daily pullback but after today we have confirmation that we could see gold go for 1350 area already this week. On the H4 timeframe the price went down around previous low (not exactly), made a new higher low instead, didn't break the trendline and as a gift we received hidden divergence which means trend continuation. We want the price to close above the small H4 resistance to get the last confirmation before we open any positions. If we do see a breakout out of the weekly upper channel we could see the other levels to be potential targets.
TVC:GOLDLong
by Kiavash
8
XAU/USD at a very importat point.On the monthly chart XAU/USD is about to break throuh the trendline which is more than 1 year old. It has bounced off the 50% retracement mark. For very long term purposes the trend is still up. Although, before taking any long postions on Gold. I would wait for a potential whipsaw/manipulation of the price once again to take the gold bugs out of the game. A high probability exists of a whipsaw back to the 61.8 retracement level is there. At that level manipulation of price is not possible as it gets below the extraction cost price of gold today. For long term buyers of gold. I suggest you wait for a full confirmation of the break of trendline and wait for atleast one period (on monthly) before entering into long postions. If whipsaw occurs I would enter short positions upto 61.8 retracement levels which is the next major support for gold. At that level its a very very lucrative buy for long term purposes.
FOREXCOM:XAUUSD
by ifly777