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Gold price analysis August 23☘️Fundamental analysis: Gold prices attracted fresh buyers in the Asian session on Friday, moving away from the weekly lows touched the previous day. Growing acceptance that the Federal Reserve (Fed) will start lowering borrowing costs at its September policy meeting did not help the US Dollar (USD) to capitalize on a decent overnight rebound from weekly lows. However, gold prices remained below the psychological $2,500 level as traders eagerly awaited Fed Chairman Jerome Powell’s speech at the Jackson Hole Symposium for clues on the path of interest rate cuts, which could provide fresh directional momentum. In addition, developments surrounding the ceasefire talks between Israel and Hamas will play a key role in influencing the near-term trajectory of XAU/USD, which looks set to post modest losses for the week. ☘️Technical Analysis Gold recovers from the important technical support level of 2470, which is also the support level that I identified for you in the previous analysis. The important price zone that gold is heading towards is 2500. There will be two important cases when the price breaks and does not break out of the 2500 zone. When breaking the 2500 zone and heading towards the resistance zones that gold could not break yesterday. The zones of interest are 2509 and 2513, which are also important today. If it cannot break, it may continue to downtrend. On the contrary, breaking the 2513 zone will head towards 2519 and form an uptrend when trading successfully above 2520. In the opposite direction, the important support zone is the breakout zone of 2485 and the support zone of yesterday's bottom around 2571. If it breaks 2471, 2465 becomes the final support zone. Wish you successful trading Resistance: 2500 - 2509 - 2513 - 2519 - 2530 Support: 2485 - 2472 - 2465 SELL price zone 2500 - 2498 Stoploss 2505 SELL zone 2519 - 2521 Stoploss 2524 BUY scalp price zone 2465 - 2363 stoploss 2460 BUY price zone 2472-2470 stoploss 2468
OANDA:XAUUSD
by TVS-Trader
Strategic Moves by Institutional Buyers Signal Bullish ProspectsGold commenced 2024 on a strong footing, exhibiting significant upward momentum during the first quarter. The accumulation phase initiated by institutional buyers stretched from January to mid-February, beginning at the S3 support level of $2,075 per troy ounce. The upward movement propelled gold prices to the R5 resistance level of $2,503 per ounce by the second week of April, marking the onset of the second quarter. This peak prompted profit-taking, stabilizing the price within a range between $2,365 and $2,503 per ounce. Throughout this period, it appears that institutional buyers were actively building positions, likely in anticipation of driving prices higher. This strategic positioning is evident from the price consolidation between the R3 and R4 resistance levels for nearly five weeks during the third quarter. The persistence of prices within this range underlines a robust buying interest. A critical breakout occurred when prices surpassed the R4 level at $2,503, which had previously acted as a formidable resistance point for several months. This breakout is a strong indication of continued dominance by institutional buyers in the gold market. Currently, with prices holding above the R4 level, the market is poised to target the R5 level at $2,605 for the third quarter, with potential for further ascension in Q4 of 2024. Given these dynamics, traders are advised to capitalize on any pullbacks towards the R4 level, as these dips present favorable buying opportunities within a bullish gold market framework.
COMEX:GCZ2024Long
by msrozba
XAUUSD - 4H Gold’s Potential DownturnOANDA:XAUUSD has recently surged to the top of its ascending channel, reaching above the $2,500 level. This move, however, appears to be a liquidity hunt, where the market triggers stops above significant levels before reversing direction. After this liquidity grab, technical analysis suggests a strong possibility of gold retracing within the ascending channel. Fundamentally, several factors are contributing to the potential downside. The recent easing of tensions in the Israel-Palestine conflict has reduced demand for safe-haven assets like gold. Additionally, the de-escalation in geopolitical risks generally leads to a pullback in gold prices as investors shift towards riskier assets. Moreover, the broader market sentiment is leaning towards a stronger dollar, especially with expectations of continued monetary tightening by central banks, which could also pressure gold prices downward. Given these technical and fundamental factors, gold is likely to face a correction back within the channel, with potential support levels around $2,350-$2,400. This retracement would align with the overall market dynamics and investor sentiment shifting away from gold.
FX:XAUUSDShort
by Sober_Trading
7
Gold trading strategy August 22☘️Fundamental Analysis: Gold prices attracted some sellers during the Asian session on Thursday and slid closer to the psychological $2,500 mark, although they held above the overnight low. The US dollar (USD) gained some positive momentum and now appears to have broken a four-day losing streak, hitting a fresh yearly low on Wednesday. This, coupled with the underlying bullish sentiment across global financial markets, turned out to be a major factor undermining the safe-haven precious metal. That said, dovish expectations from the Federal Reserve (Fed) could limit the USD’s recovery and act as a bullish driver for Gold. Data released on Wednesday showed that US job growth over the year through March was weaker than initially estimated. Moreover, the minutes of the July FOMC meeting showed that some officials are leaning towards an immediate rate cut. This reaffirms bets for the imminent start of the Fed easing cycle in September, which would benefit the non-yielding yellow metal. ☘️Technical Analysis: Gold is trading in a range of 2495-2518. The consolidation zone that has been maintained throughout this week needs to be stronger for gold to break out of the price range. On the upside, gold will face immediate resistance around 2513 before reaching the important breakout zone of 2518. The all-time resistance around 2531 will be the last resistance before making a new ATH and heading towards higher hooks. If gold fails to break the resistance of 2513 and breaks the lower band of 2395, the important support zone around 2385 will be the key place to watch. The lowest level at the sell plan is 2376. Resistance: 2519 - 2527 - 2531 - 2540 - 2552 Support: 2500 - 2495 - 2488 - 2475 - 2470 SELL scalp price zone 2518 - 2520 stoploss 2523 SELL price zone 2550 - 2552 stoploss 2556 BUY price zone 2477 - 2375 stoploss 2471 BUY scalp price zone 2488 - 2386 stoploss 2482
OANDA:XAUUSD
by TVS-Trader
SasanSeifi| Will Gold Continue to Correct? (1H)Hey there, By analysing the OANDA:XAUUSD chart in the short-term 1-hour timeframe, it is observed that the price has experienced corrections from the $2531 level and is now showing a positive reaction within the demand zone, currently trading around $2510. In this timeframe, the outlook leans towards a bearish trend, with a potential decline to corrective targets at $2494, $2490, $2482, and $2477. The potential trends are highlighted in the above chart, and there is a possibility of a price reversal from the $2514 to $2523 range. To better understand the next price movement, it’s essential to observe how the price reacts to these levels. If momentum weakens and the necessary confirmations are received from the specified levels, the corrective scenario will gain significance. Conversely, if the price encounters increased demand and successfully penetrates and stabilizes above the mentioned levels, the possibility of further growth and invalidation of the corrective scenario increases. (For the uptrend to continue and to reach higher targets, the $2531 resistance needs to be broken, and the price must stabilize above this level.) 💢 Please remember that this is just my personal viewpoint and should not be taken as investment advice. I’d love to hear your thoughts and share opinions! Happy trading!✌😎 Sure, if you have any more questions or need further clarification, feel free to ask. I'm here to help!✌
OANDA:XAUUSDShort
by SasanSeifi
2
Gold entered into a bearish structure after breaking channelHello Traders In This Chart GOLD HOURLY Forex Forecast By FOREX PLANET today Gold analysis 👆 🟢This Chart includes_ (GOLD market update) 🟢What is The Next Opportunity on GOLD Market 🟢how to Enter to the Valid Entry With Assurance Profit This CHART is For Trader's that Want to Improve Their Technical Analysis Skills and Their Trading By Understanding How To Analyze The Market Using Multiple Timeframes and Understanding The Bigger Picture on the Charts
OANDA:XAUUSDLong
by ForexMasters2000
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
XAU/USD: Correction to Support?Upside Momentum Slowing on the Monthly Chart Despite the yellow metal working with a clear uptrend and shaking hands with fresh record highs, momentum to the upside has noticeably decelerated. This can be observed through price action and the Relative Strength Index (RSI) on the monthly scale, which tests overbought conditions and exhibits the possibility of negative divergence. Breakout in Play On the daily timeframe, gold recently ventured north of a consolidation between US$2,363 and US$2,470 late last week and also broke through the upper boundary of an ascending channel extended from the high of US$2,450. Consequently, before buyers attempt to take things higher, a textbook correction and retest of the breached boundary (black circle) could be seen to potentially deliver support. Dip buying? H1 Technicals Converging with Daily Structure Following the recent all-time high, H1 flow has pencilled in the beginning of an early short-term downtrend (lower low, lower high and subsequent lower low). What jumps out on the H1 chart, however, is support coming in at US$2,477, which happens to converge with H1 trendline support, taken from the low of US$2,381, and the breached resistances on the daily chart. This H1 area of support is also located just south of the higher low at US$2,485 formed on 19 August (black circle). Since traders often position protective stop-loss orders beneath swing lows like US$2,485, whipsawing beneath this boundary could attract larger buyers looking to hit the offer from the noted H1 support on the back of the fresh liquidity. Price Direction? While upside momentum is slowing on the longer-term monthly chart, a correction on the daily chart to the recently breached resistance could be seen. This move may prompt dip buying, particularly from H1 support around US$2,477, which shares chart space with daily structure.
FPMARKETS:XAUUSDLong
by FPMarkets
2
REACHED ATH !! XAU accumulates waiting for FOMC today⭐️ Smart investment, Strong finance ⭐️ GOLDEN INFORMATION: Gold prices (XAU/USD) hit a new record high around $2,531-$2,532 on Tuesday, driven by expectations that the Federal Reserve (Fed) will soon begin easing its policy. Markets are increasingly betting on a 25 basis point rate cut in September, boosting demand for gold. Dovish Fed expectations also pushed down US Treasury yields and weakened the US Dollar (USD), with the USD Index (DXY) dropping to a seven-month low, further supporting gold. Additionally, a slight pullback in US equity markets contributed to gold's rise. However, optimism about easing tensions in the Middle East limited further gains for XAU/USD. Investors remain cautious, waiting for Fed Chair Jerome Powell's speech at the Jackson Hole Symposium on Friday and the July FOMC meeting minutes for more clues on the Fed's policy direction, which will influence USD demand and gold's next move. ⭐️ Personal comments NOVA: Gold price reached ATH 2530 according to FIB H4, continue to accumulate and wait for FOMC data today, possibility of sideway, correction decrease ⭐️ SET UP GOLD PRICE: 🔥BUY GOLD zone: $2485 - $2487 SL $2480 TP1: $2495 TP2: $2503 TP3: $2510 🔥SELL GOLD zone: $2533 - $2535 SL $2540 TP1: $2520 TP2: $2505 TP3: $2480 ⭐️ Technical analysis: Based on technical indicators EMA 34, EMA89 and support resistance areas to set up a reasonable SELL order. ⭐️ NOTE: Note: Nova wishes traders to manage their capital well - take the number of lots that match your capital - Takeprofit equal to 4-6% of capital account - Stoplose equal to 2-3% of capital account - The winner is the one who sticks with the market the longest
OANDA:XAUUSDShort
by Nova-Scalper
4
Gold XAU/USD Analysis Wednesday 21 August 24 Hello, We have had a smallish correction so far in the last 24 hours in the Gold-price. The USDX shows some temporary strength the past 8 hour or during the Oceania (New Zealand & Australia) and the Asian session during Wednesday. The Silver price has faired better during these Oceania & Asian sessions. 2500 level is very key psychological & key support. It seems to be holding well as I write this article. I want to see support at 2507 & we are currently almost there. 2507 and support there would be on the 50 EMA in the 1 hour timeframe. I find the 50 EMA on the 1 hour to be a good yardstick of where the Gold price may go next. See charts above. * Don't rely solely on my investment advice, conduct your own research & form multiple sources.
EIGHTCAP:XAUUSD
by Easy_Explosive_Trading
Gold Price Analysis August 21☘️Fundamental Analysis Gold prices extended their bullish consolidation above the psychological $2,500 level heading into the European session on Wednesday and remained within striking distance of the record high hit the previous day. Investors appeared to be betting that the Federal Reserve would begin its policy easing cycle and announce 25 basis points (bps) in September. This continued to weigh on US Treasury yields and became a key support for the non-yielding yellow metal. In addition, geopolitical risks, China’s economic woes and a slight decline in global risk sentiment served as a boost for the safe-haven commodity. Investors also appeared reluctant and preferred to wait on the sidelines ahead of the release of the July FOMC meeting minutes. In addition, Fed Chairman Jerome Powell's speech at the Jackson Hole Symposium on Friday will be closely watched for clues on the US central bank's policy path. ☘️Technical Analysis Gold is trading in a narrow range of 2500 and 2532. That is the wide range we can trade when gold breaks out of the sideways range in the Asian session around 2519-2510. Today's key support resistance zone around 2550 and 2476 to ensure that gold's price range does not increase or decrease too much. RSI corrected in the US session yesterday but is still at a relatively high level. If gold fails to close below 2500, it is very likely to create a new ATH in the following days. Resistance: 2527 - 2531 - 2540 - 2552 Support: 2500 - 2495 - 2488 - 2475 - 2470 SELL scalp zone 2528 - 2530 stoploss 2533 SELL zone 2550 - 2552 stoploss 2556 BUY zone 2477 - 2375 stoploss 2471
OANDA:XAUUSD
by TVS-Trader
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