Short Term Bullish move in GOLD incomingGold is preparing for a retracement upto 2344. We will enter the trade at current price with a stop loss below the recent low of 2315.
Will update as London and New York opens on Monday 24 June
Goldprice
Gold rebounded after oversold
After the news was released on Friday, gold fell sharply. In addition, a large number of buy orders were traded in the market. The lowest gold price reached 2318, and the Asian market rebounded. The operation is still mainly buying at low levels. See if the position of 2332 stabilizes above. If it stabilizes, you can continue to buy.
OANDA:XAUUSD COMEX_MINI:MGC1! MCX:GOLD1! COMEX:GC1! NYMEX:CL1! NYMEX:WTI1! MCX:CRUDEOIL1! NYMEX:MCL1! TVC:DXY BYBIT:BTCUSDT.P INDEX:BTCUSD
Analysis of gold price trend on Monday 6/24Gold prices fell to hit 2317 in Asian trading on Monday. The dollar rose to its highest level in seven weeks, making gold more expensive for holders of other currencies, and U.S. Treasury yields also rose. Uncertainty about the timing of the Fed's rate cut.
In the short term, the outlook for gold appears bearish due to uncertainty about the timing of the Fed's rate cut. The stronger dollar and rising U.S. Treasury yields put additional downward pressure on gold prices. Traders should remain cautious and pay close attention to upcoming economic data, as any signs of strong economic performance could delay rate cuts and further depress gold prices.
Key U.S. economic reports this week include the second revision of gross domestic product (GDP), initial jobless claims, and core personal consumption expenditures. These reports, as well as speeches by multiple Fed speakers, could have a significant impact on gold prices. Traders should pay attention to signals on economic growth, inflation, and potential shifts in monetary policy.
In the golden triangle range, the gold price fluctuated and adjusted in the short term. The weekly chart turned from green to red, and the price fell back below the MA10-day moving average. The short-term four-hour chart MA10/7-day moving average high 2346 dead cross opened downward, and the price fell to 2310 near the lower track of the Bollinger band. The RSI indicator broke through the middle axis 50 and turned downward. The strong bullish trend of gold ended on Friday. The first consideration for trading at the beginning of the week is the inertial rebound of the price after the oversold, and the short-selling pattern will be carried out after the rebound is blocked.
Asian trading strategy:
Short-term gold 2307-2309 long, stop loss 2298, target 2330-2340;
Short-term gold 2335-2337 short, stop loss 2346, target 2320-2310;
Note: The above strategy was updated on June 24. This strategy is an Asian market strategy, please identify the strategy release time
GOLD to form another higher low?XAUUSD - 24h expiry
Our short term bias remains positive.
Offers ample risk/reward to buy at the market.
Price action continues to trade around significant highs.
50 1day EMA is at 2317.8.
Trend line support is located at 2318.
Setbacks should be limited to yesterday's low.
The primary trend remains bullish.
We look to Buy at 2319.0 (stop at 2303.0)
Our profit targets will be 2359.0 and 2367.0
Resistance: 2327.3 / 2340.0 / 2355.0
Support: 2316.8 / 2306.5 / 2295.6
Risk Disclaimer
The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit.
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Gold price today (June 24): "Hold your breath" waiting for the sWorld gold charge today
World gold costs have a tendency to boom with spot gold growing via way of means of 3.2 USD in comparison to final week`s ultimate degree to 2,323.2 USD/ounce.
After a unstable week, the sector gold marketplace is predicted to stabilize this week with few essential statistics launched withinside the center of the week. The maximum awaited records via way of means of the marketplace is the center private intake expenditure index document (americaA Federal Reserve's (Fed) favored inflation measure) predicted to be posted on the quit of the week. Some reviews say that this document is predicted to create fluctuations withinside the marketplace. Weaker statistics ought to boom the chance that the Fed will reduce hobby charges in 2024, and that situation might aid the yellow metal. On the contrary, inflation "hotter" than predicted will motive gold to fall deeper.
Although the upward momentum has slowed, many analysts agree with that the elements which have supported gold these days have now no longer disappeared. Accordingly, worries associated with geopolitical instability remain, mainly beforehand of americaA election in November. Additionally, the USD's role as the sector's reserve forex is still challenged. focus and the danger of worldwide inflation remains.
According to the World Gold Council's latest annual Central Bank Gold Reserves Survey, the ones are the pinnacle motives why each retail traders and important banks flip to gold.
FAKE BREAK! Gold price maintains the DOWN price range below 2365✍️ NOVA hello everyone, Let's comment on gold price next week from 6/24 - 6/28/24
🔥 World situation:
Gold prices fell over 1.70% on Friday due to positive economic data from the US, which reduced expectations of interest rate cuts by the Federal Reserve. The XAU/USD trades at $2,317, below its opening price after reaching a daily high of $2,368. The US economy showed mixed signals, with June's PMI readings surpassing estimates but the housing sector declining as Existing Home Sales for May fell compared to April's data.
🔥 Identify:
Gold price had a FAKE BREAK to the 2365 zone then strong selling pressure on Friday, returning to the sideway price zone. Will continue to accumulate until the end of June 2024, maintaining below the 2365 area
🔥 Technically:
Based on the resistance and support areas of the gold price according to the H4 frame, NOVA identifies the important key areas as follows:
Resistance: $2338, $2365, $2385
Support : $2306, $2270
🔥 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
Gold analysis week 27The gold market maintained a steady recovery ahead of the weekend, but the overall trend remains unclear as US consumer confidence continues to decline and inflation expectations remain high. The new divergence between the Fed's interest rate forecast and market expectations could bring some volatility to the gold market in the short term.
China is the main driving force behind the increase in gold prices over the past year, and China's gold purchases have only been assessed as temporary and there has not been any move to show that they have "stopped". could also be a move to avoid paying a record high purchase price. The market will get some preliminary and regional manufacturing data as well as some US housing data next week.
Gold has recovered from the support level of 2,305 - 2,300 USD but in general the recovery momentum is still limited and the downtrend has not been broken yet.
The recovery momentum of gold price is limited by the confluence area of technical point 2,340 in the trendline area which is also the nearest peak, followed by resistance level 2355 where gold breaks the bullish structure,
As long as gold remains below the 34 EMA and 89 EMA, the technical outlook for gold prices remains bearish, while if gold breaks below $2,324 it will have room for more downside with the following target level. That's around $2,305 - $2,300 in the short term. A new bearish cycle is expected to open once gold breaks below the original price of $2,300, and the target level is then 2286 and then 2270.
Support: 2,324 – 2,305 – 2,300 - 2286
Resistance: 2,340 – 2,355
Gold Probes Bearish Trend Line Resistance - Uptrend Resuming?Gold has had a relatively quiet couple of months, carving out a broad range between $2285 and $2425 since the start of April.
While there are no imminent signs that the range will break any time soon, the precious metal is turning higher off support to test (and potentially break) near-term bearish trend line resistance. A confirmed break here would tilt the odds toward more gains to approach the June high at $2385 and potentially the all-time record high near $2425 in time.
-MW
XAUUSD BUY XAUUSD LONG
Trade Reason :
1) Take Support for Day Time Frame
2) 4 hr - Decending Channel Pattern Breakout
Entry - 2368 or Correction Level
Target - 2414 .715
Stoploss - 2313
Enjoying Swing Traders ...
GOLD Finds Support at Key Fibonacci Level, Eyeing Further GainsGold gains traction and trades around $2,321 in the latter half of Thursday, buoyed by a drop in the benchmark 10-year US Treasury bond yield, which fell more than 1% on the day to below 4.3% following disappointing US economic data. This decline in bond yields provides support for XAU/USD.
The price action in gold demonstrated a strong rejection from a minor structural level, specifically at the 61.88% Fibonacci retracement level. This rejection was accompanied by a divergence on the H4 timeframe, indicating potential upward momentum as it moved into a demand area or support zone. Our analysis remains consistent with our previous outlook, maintaining a bullish bias and looking for a long setup.
From a technical standpoint, this divergence on the H4 timeframe suggests a potential reversal, aligning with our strategy to capitalize on the expected upward movement. The demand area around the 61.88% Fibonacci retracement level has proven to be a significant support zone, reinforcing our confidence in a bullish setup.
Moreover, the broader macroeconomic environment supports this bullish perspective on gold. The recent disappointing US economic data has dampened expectations for aggressive monetary tightening by the Federal Reserve. As a result, lower yields tend to make non-yielding assets like gold more attractive to investors. This dynamic is likely to persist in the near term, providing a favorable backdrop for gold prices.
Given these technical and fundamental factors, we are poised to take advantage of the anticipated upward movement in gold. Our strategy involves setting up long positions at current levels, targeting further gains as market conditions continue to evolve. This approach is reinforced by the technical signals observed on the H4 timeframe and the supportive macroeconomic backdrop.
In summary, gold's current price action, supported by a decline in US Treasury yields and strong technical indicators, presents a compelling case for a bullish setup. As we monitor the market for further developments, our focus remains on capitalizing on this anticipated upward trajectory, maintaining our long positions and adjusting our strategy as needed based on evolving market conditions.
XAU/USD 20 June 2024 Intraday AnalysisH4 Analysis:
Analysis/Bias remains the same analysis dated 17 June 2024
-> Swing: Bullish.
-> Internal: Bearish.
Price traded to the downside, however, price was unable to breach and close below weak internal low where we saw a reaction at a H4 demand level.
Nonetheless, internal structure remains bearish, therefore, price should technically target weak internal low.
Price could potentially continue to trade bullish, react at either premium of 50% EQ or H4 supply level before targeting weak internal low.
Strong swing low is expected to hold, however, it would be worth noting the swing low must be taken as the weekly and daily TF's are both in pullback phase.
Intraday expectation: Price to target weak internal low.
H4 Chart:
M15 Analysis:
-> Swing: Bullish.
-> Internal: Bullish.
As per expectation price targeted the weak internal high and printed a bullish iBOS
Price has printed a bearish CHoCH indicating, but not confirming bearish pullback initiation following bullish iBOS.
Intraday expectation: Price to either react at M15 POI or discount of 50% EQ before targeting weak internal high.
M15 Chart:
XAUUSD - Sell PositionSomeone asked how I took this position. Let me explain the different reasons:
1. Two Bullish Legs: During the Asia session, XAUUSD formed two bullish legs. This suggested a pullback to the previous pivot level, even if it continues to rise in the London and NY sessions.
2. Bearish Flag Pattern: The trading range resembled a bearish flag, indicating a likely reaction and decline from this resistance zone.
3. Weakening Momentum: In the 5m chart, the three pushes up at the end of the second leg showed signs of weakening momentum, pointing to increased selling pressure. This signaled a high probability of a pullback.
These observations combined led me to anticipate a decline, making this position a strategic move based on technical analysis.
XAUUSD:19/6 Analysis and StrategyGold technical analysis
Daily resistance 2340-70, support below 2277
Four-hour resistance 2328-40, support below 2307-2277
Gold operation suggestions: Yesterday, gold technically fell first and then rose, ushering in a strong bull bottoming out and rebounding deep V rebound. The price of the Asian and European sessions was under pressure and fell back to the 2325 mark, and then weakened and further pierced the 2310 mark to reach 2306 and stabilized and rebounded. The price rushed up first in the late trading, and was blocked at the hourly starting point of 2324, and then quickly fell back and fell. Then, it repeatedly oscillated around the 2315-2318 area and formed a strong bottoming out and rebounded to break the high. The daily level continued the long and short yin and yang oscillation cycle rhythm.
Judging from the current gold trend, today's support is around 2318-15. If it returns to this position during the day, you can try to go long. The upper pressure is around 2335-2340. Rely on this range to maintain a high-sell and low-buy cycle during the day.
SELL:2334 near SL:2342
BUY:2277 near SL:2270
Technical analysis only provides trading direction!
GOLD EVERYDAY TRADE SETUP XAUUSDHello traders ,
This my idea for Short. GOLD (XAUUSD). NOW market ready for short .
this is my ideas only. what you are flow your trading statistics you can continue.
If you need more my ideas follow me.
Gold Buy(73pips)Gold is still bullish; Price Action is observed. Use proper risk management and happy trading. OANDA:XAUUSD FOREXCOM:XAUUSD TVC:DXY
XAU - GOING SIDEWARD BUT STILL IN DOWN TRENDGold rose to around the $2,320 per ounce mark on Monday, rebounding from declines in the previous session, as investors awaited a series of economic reports and comments from Federal Reserve officials throughout the week to gauge the Fed’s interest rate cut timeline. Key focal points include the US retail sales data scheduled for later today, weekly jobless claims on Thursday, and Friday's flash purchasing managers' indices, all of which offer insights into consumer spending and economic strength.
Gold maintains the small frame sideway zone, the price tops create consecutive false breaks
🔴SELL GOLD: 2348 - 2350, SL: 2354
🟢BUY GOLD: 2307 - 2305, SL: 2301
Note: Zone 2300
⛔️Breakout:
📈 Breakout on: 2326 - 2341
📉 Breakout below: 2312 - 2305
🔼Support: 2305 - 2300 - 2291 - 2286
🔽Resistance: 2330 - 2340 - 2350
GOOD LUCK EVERYONE👍
GOLD -cannot return to the 22xx area due to huge buying pressureJohn Williams - President of the New York Fed - stated hobby costs will steadily lower over time, however he refused to mention whilst americaA significant financial institution may begin loosening economic policy.
According to the CME FedWatch Tool, investors expect a kind of 67% threat the Fed will reduce hobby costs in September. Lower hobby costs lessen the possibility fee of retaining non-hobby-bearing bullion.
Currently, Fed officers are touchy to the difficulty of cooling inflation. Any uncommon symptoms and symptoms from the hard work marketplace will have an effect on the choice to reduce hobby costs on the cease of the year. Investors additionally centered on weekly jobless claims and buying index.
Gold costs reduced 6% from the file excessive of 2,449.89 USD/ounce on May 20, specifically stricken by the sturdy USD, excessive hobby costs, and Fed policies.
In addition, the Chinese significant financial institution`s suspension of gold purchases in May endured to weigh at the marketplace.
However, in its annual survey, the World Gold Council stated that many significant banks are pushing beforehand with gold reserve plans notwithstanding growing treasured metallic costs, in part because of political and macroeconomic instability. .
Spot silver fell 0.4% to $29.forty an ounce, platinum fell 0.4% at $968.fifty nine and paladin rose 0.1% to $887.67.
Regarding the gas marketplace, Brent crude oil rate elevated 2 cents to 85.35 USD/barrel, at the same time as US WTI crude oil reduced 6 cents to 81.fifty one USD/barrel. Oil costs remained solid withinside the buying and selling consultation on June 19 because the marketplace taken into consideration escalating conflicts in Europe and the Middle East, and involved approximately gas call for after an surprising growth in US crude oil reserves.
XAUUSD: 18/6 Analysis and StrategyGold technical analysis
Daily resistance 2340-70, support below 2277
Four-hour resistance 2328-40, support below 2307-2277
Gold operation suggestions: Yesterday, gold technicals were suppressed and fell in the shock. The price of Asian and European sessions was under pressure at the 2330 mark and fell weakly. The European session fell further downward and broke through the 2320 mark to reach 2315 and stabilized, then rebounded and rebounded. The US session slightly rose and pierced 2327, and was blocked and fell again. Finally, it accelerated downward and pierced 2310. The overall price was under pressure at the 2330 mark and there were multiple suppressions and declines.
From the daily trend, we focus on the 2335-2340 suppression of gold. Today, we can focus on the 2310 support. However, the recent focus is on the 2305-2300 support. Recently, the overall gold price is still suppressed below 2340 and fluctuates in the short side. The starting point of the daily level decline last week is also the recent watershed between long and short strengths. Before the daily level breaks through and stands on this position, it will continue to maintain a fluctuating downward trend.
SELL:2328 near SL:2331
SELL:2340 near SL:2345
BUY:2277 near SL:2274
Technical analysis only provides trading direction!
XAUUSD:17/6 Today's Analysis and StrategyGold prices are showing a downward trend after a sharp rise last Friday and are currently trading around 2318. With a bearish crossover of the moving averages and a bearish signal from the relative strength index (RSI), gold prices are once again facing the test of 2300 and 2277.
From a technical analysis perspective, the short-term technical outlook for gold prices is still in favor of the bears. The upside for gold prices is limited by the confluence of the 21-day moving average (SMA) and the 50-day SMA near 2345. The 14-day RSI remains below 50, close to 48.00, while the 21-day SMA crossed the 50-day SMA from above to below at the close of last Friday, forming the so-called "death cross".
Gold technical analysis
Daily resistance 2340-70, support 2277
Four-hour resistance 2328-40, support 2307-2277
Gold operation suggestions: Today's gold price fell directly from Friday's closing price of 2332. The current lowest price has reached 2314. The key support below is around 2314, which is the current watershed of gold price strength. At present, the overall market is still in the 2310-40 oscillation range. The focus on the upper side is the 2335-40 line suppression. If this high point is reached, short selling can be considered. The recent market focus only needs to pay attention to the breakout of the large range of 2300-2340.
SELL:2340 near SL:2345
BUY:2277 near SL:2274
GOLD - The flag pattern appears clearlyBUY GOLD 2312-2313
GOLD in the current European session has also reached its very low zone. Previously, GOLD had formed a weak support zone at this price level. Although it was weak support, in the European session it was clearly quite strong. There is little reason to confirm that gold will break this zone, so you should place full TP/SL, don't abuse leverage, only risk about 1-2% of your total capital. Please.
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Last Sunday, Minneapolis Fed President Neel Kashkari stated that it's far affordable to are expecting that americaA Central Bank will handiest reduce hobby quotes as soon as this year. This announcement had a good sized effect on marketplace psychology.
This week, US retail income information, weekly jobless claims and shopping managers` indexes are anticipated to offer similarly clues approximately the course of the Fed's hobby quotes.
Although gold expenses have decreased, professionals nonetheless trust that gold is in a good environment. Data launched remaining week confirmed that hard work marketplace and fee pressures are displaying symptoms and symptoms of cooling. Capital monetary marketplace analyst Kyle Rodda stated that information displaying symptoms and symptoms of weak spot withinside the US financial system may want to weaken the USD and growth expectancies of destiny hobby charge cuts. .
Precious metals continue to be supported via way of means of hopes that subsequently the Fed will need to pivot its policy. In addition, political instability in France additionally multiplied danger aversion globally, supporting to enhance safe haven call for for the treasured metal.
EUR/USD weakenedEUR/USD falls to 1.0700 as the Euro weakens amid French election uncertainty.
ECB policymakers see a bumpy inflation path towards the 2% target.
The Fed maintaining its hawkish stance will offset the impact of weak US inflation data.
The next support level for EURUSD is around 1.066. Traders can pay attention to execute BUY signals.
The main resistance level is at 1.072 where the pair broke through strong support
XAU/USD 17 June 2024 Intraday AnalysisH4 Analysis:
-> Swing: Bullish.
-> Internal: Bearish.
Price traded to the downside, however, price was unable to breach and close below weak internal low where we saw a reaction at a H4 demand level.
Nonetheless, internal structure remains bearish, therefore, price should technically target weak internal low.
Price could potentially continue to trade bullish, react at either premium of 50% EQ or H4 supply level before targeting weak internal low.
Strong swing low is expected to hold, however, it would be worth noting the swing low must be taken as the weekly and daily TF's are both in pullback phase.
Intraday expectation: Price to target weak internal low.
H4 Chart:
M15 Analysis:
-> Swing: Bullish.
-> Internal: Bullish.
Price printed a bullish iBOS following US CPI data release 12 June 2024.
Price has printed a bearish CHoCH indicating, but not confirming bearish pullback initiation following bullish iBOS.
Price has reacted from H4 POI and continued bullish to target weak internal high, however, price was unable to breach and close above weak internal high reacting at an M15 POI.
Intraday expectation: Price to target weak internal high. Price could target more liquidity by trading down to nested H4 and M15 POI's before targeting weak internal high.
Alternative scenario is price could target strong internal low as H4 internal structure is bearish.
M15 Chart:
