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XAU down! correction 10/10/2024XAU / USD trend forecast October 10, 2024 Gold continued its decline for the sixth straight day after the Federal Reserve (Fed) released its September Meeting Minutes. The Minutes revealed that most FOMC members supported a 50-basis-point cut, though XAU/USD remains near $2,610, down 0.37%. While some officials preferred a 25 bps cut, all agreed on lowering rates. Most participants saw inflation risks decreasing, while concerns about the labor market increased. H1 frame shows Gold price correction - amid news of China stopping gold purchases continuing to impact further bullish momentum. Price continues to correct below 2600 /// SELL XAU : zone 2623-2626 SL: 2631 TP: 50 - 100 - 300 pips (2596) Safe and profitable trading
OANDA:XAUUSDShort
by Moon-ForexAcademy
5
Don't miss the great SEE Opportunity in GOLD1-hour XAU/USD chart here's a concise analysis: Current Price Movement: The price still ranges around $2,624, just below the resistance at $2,630. There is consolidation in the current zone, indicating indecision in the market. Trendlines: The previous upward trendline has been broken, and the price is trending lower. A downward-sloping trendline from earlier highs is visible, indicating that bearish momentum may still be in play. Support and Resistance: Immediate support lies at $2,589.35. Resistance remains at $2,630, where price rejection could push the market lower again. Below the $2,589.35 support, another potential support zone lies around $2,570. Outlook: Unless a breakout occurs, the price could remain range-bound between $2,624 and $2,630. A break below $2,604 could target $2,589 and further down towards $2,570. If bulls regain momentum and break through $2,630, there may be a push toward the $2,650 area.
FX:XAUUSDLong
by forexcitysignal
10.10 Gold price under pressure for six consecutive days, pay atOn Wednesday (October 9), spot gold plunged nearly $15. After the latest minutes of the Federal Reserve meeting were released, the market's expectations that the Federal Reserve would keep interest rates unchanged in November suddenly heated up, which stimulated the strength of the US dollar and hit gold prices. Due to the strengthening of the US dollar and the weakening expectations of the Federal Reserve's sharp interest rate cut in November, gold fell for the sixth consecutive trading day on Wednesday. Spot gold closed down $14.13, or 0.54%, at $2,607.71 per ounce on Wednesday. The price of gold fell to a low of $2,605.16 per ounce during the session. Intraday data focus: US September unadjusted CPI annual rate US September seasonally adjusted CPI monthly rate US initial jobless claims for the week ending October 5 (10,000) Technical analysis: 1. There may be more pullbacks in the Asian session, and the European session will rise. 2. Only when the 2,624 watershed is broken will it fluctuate. If it is suppressed, it will still be a weak correction. 3. Pay attention to the pullback in the US market. Therefore, if the Asian market reaches 2611-2, go long, stop loss 04, and the target is 2624-6. Strong resistance is 2630-32. The US market cycle is short, and it depends on the strength of the European market's pullback, but the rhythm of the cycle has not changed.
TVC:GOLDLong
by David_strategy
1
10.10 Analysis of short-term gold operationsIn the early Asian session on Wednesday (October 9), spot gold fluctuated in a narrow range and is currently trading at $2,610.88 per ounce. Gold prices fell more than 1% during Tuesday's session, hitting a low of $2,604.68 per ounce, the lowest since September 20, and closed at $2,621.76 per ounce. Recent US employment data hit expectations of a larger rate cut, and as Hezbollah supported efforts to reach a ceasefire, market concerns about a possible all-out war in the Middle East cooled, also weakening gold's safe-haven buying. Technical Analysis Daily Chart On the daily chart, gold prices are close to the trend line, and buyers are expected to intervene at this point, setting a risk range below the trend line, ready to push gold prices up and set new highs. Sellers hope to see gold prices break below the trend line to increase bearish bets and fall to new lows. 4-hour chart On the 4-hour chart, gold prices fell below the recent low yesterday, then pulled back and continued to fall. Buyers want to see gold prices rise back above $2,625 to prepare to push prices higher and set new highs, while sellers may continue to target the trendline for now. 1-hour chart On the 1-hour chart, the lower limit of today's daily range is near the trendline. If gold prices fall to the trendline today, the trendline should limit the decline. Tomorrow's US CPI report may determine whether gold prices continue to rise or fall further The US CPI report and US unemployment claims data will be released. On Friday, the US Producer Price Index (PPI) and the University of Michigan Consumer Confidence Index report will be released.
TVC:GOLDLong
by David_strategy
Gold May Fall to 2595.00 - 2605.00 (READ DESCRIPTION)Gold May Fall to 2595.00 - 2605.00 Pivot Point: 2631.00 The pivot at 2631.00 is a significant resistance level. The price remaining below this point indicates bearish sentiment in the market. If the price breaks above this level, it may signal a shift towards a bullish trend. Primary Strategy (Our Preference): Entry Point: Initiate short positions below 2631.00. Target Levels: 2605.00: This is the first target, representing a potential decline of 26 pips from the pivot. This level may attract some buying interest; however, strong bearish momentum could push through it. 2595.00: The next target indicates a further decline of 36 pips. If selling pressure continues, this level could be reached as a significant downside extension. Alternative Scenario: If the price moves above the pivot point at 2631.00, consider long positions. Entry Point: If the price breaks and sustains above 2631.00, initiate long positions. Target Levels: 2642.00: The first upside target, suggesting a potential rise of 11 pips from the pivot. This level could serve as initial resistance. 2653.00: The next target indicates a further upside move of 22 pips, suggesting potential for a stronger bullish trend if momentum builds. Technical Outlook: RSI Indicator: The RSI is likely reflecting bearish momentum, suggesting further downside as the price remains below the pivot. MACD Indicator: The MACD is expected to be below its signal line, confirming bearish sentiment. Moving Averages: Gold is likely trading below its 20- and 50-period moving averages, indicating short-term weakness and reinforcing the bearish outlook. Market Dynamics: As long as the resistance at 2631.00 is not surpassed, the risk of breaking below 2605.00 remains high, potentially leading to further declines toward 2595.00. A sustained break above 2631.00 may shift market sentiment, opening the path for a move toward the upside targets at 2642.00 and 2653.00. Gold is poised for a potential decline as long as it remains below 2631.00, with targets set at 2605.00 and 2595.00 for further downside. A breach above 2631.00 could indicate a shift to bullish momentum, targeting 2642.00 and 2653.00 for further upside.
OANDA:XAUUSD
by CharivapaAlgo
1
10.9 Gold bottoming out may not be over yetGold fell below the low point of the previous correction yesterday, and the daily line went out of the 5-day negative pattern. This is too much for the bull correction. The continuous negative time is too long, but from the price point of view, it is not, and the amplitude is not enough. The price broke the short-term 5-day and 10-day moving averages, which means that the overall pattern has weakened. Especially after 5 consecutive negatives, there is still momentum for further retracement today. For today, the probability of continuing the oscillation cycle is still very high. 1. The bottoming out and rebounding during the day, the European market rebounded. 2. The US market rushed down and continued to fall, but the European market rose, and the probability of breaking the bottom today is small. Just look at it as a shock. 3. The previous low point is supported at 2613-4. In terms of data: EIA crude oil inventory in the United States as of October 4 (10,000 barrels) Intraday short-term operation suggestions: BUY: 2608 target 2628---2635 SELL: 2635 target 2625----2620
TVC:GOLDShort
by David_strategy
GOLD → Trade Analysis | SELL SetupYou can expect a reaction in the direction of selling from the specified resistance zone GOLD moving higher as it tests the strong resistance level.. We expect a bearish move from the confluence zone. Hello Traders, here is the full analysis. I think we can soon see more fall from this range! GOOD LUCK! Great SELL opportunity GOLD I still did my best and this is the most likely count for me at the moment. ------------------- Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 🤝
TVC:GOLDShort
by TheGrove
3
10,8 Technical Analysis of Gold Short-term OperationsAt the end of the Asian session on Tuesday (October 8), spot gold maintained its intraday decline, and the current gold price fell to around $2,627/ounce. Spot gold closed down 0.41% on Monday at $2,642.28/ounce. There was no important data released from Monday to Wednesday to guide the market, but the speeches of several Fed officials need special attention, and then there is the September CPI data on Thursday, the initial jobless claims data for the week, and the minutes of the Fed meeting at 2 a.m. From the daily level, a small negative column was recorded yesterday, and the price remained below the short-term moving average. The moving averages of other cycles were arranged upward. The Bollinger overall intended to close, the MACD double-line dead cross probed downward, and the green kinetic energy column increased in volume, which was in line with the K-line trend. The primary pressure above was around $2,650, which was close to the previous high. Below this, the daily line still tended to be short. $2,650 is the first resistance, and further resistance upwards is near 2,660 (three points above and below). If the intraday rebound does not break through and there is no geopolitical situation to increase risk aversion to support it, the technical retracement and repair demand will continue. Further support below is $2,630. After breaking through, it can extend to the $2,620-2,618 range. In other words, today's trend is expected to retrace first. If it can retrace to the expected range, you can participate in the bullish trend.
TVC:GOLDShort
by David_strategy
3
Gold fluctuates at high levels, bullish resistance is still largGold intraday trend: 1. It is still likely to fall below 2640 during the day. If it reaches, it will easily break through and support the previous low of 2632. 2. The volatility has not changed. The market is not likely to continue. Both long and short positions can participate. 3. The upper resistance is still at 2660. There were 4-5 negative daily corrections in the previous volatility. The correction time has not reached the limit, so don’t worry about over-adjustment. In terms of price, the high point has only retreated 40-50 US dollars, which is a small range. Short-term operation: BUY: 2640 Target: 48---50 SELL: 2660 Target: 2645----40
TVC:GOLD
by David_strategy
Gold Wyckoff AnalysisGold's been on a stellar run with a strong campaign initiated at the start of September which broke out of a beautiful Wyckoff accumulation on the much higher time frame BUEC. Overall still very bullish for gold over the next 18-24months. In the current price action we've had a strong push up from $2,590 where we have found a new trading range. We had a potential spring event that failed to breakout which shows some weakness in the market right now suggesting more of a distribution/selling/profit taking event. Since this spring the range has tightened and tested both extremes of the range at the purple circles indicating no real support either way to rally further or sell of. The volatility is suggesting selling activity however we will not know until the range is completed. This smaller range can also be a test of the potential spring event Expecting the market to show us an answer over the coming days as price continues to contract in a bearish fashion however this can still always mean 2 things, that 1. sellers are exhausted or nearing the end of taking profits and demand is strong or 2. demand is weakening Now looking for another potential spring event that dips below the prior one, if this shows any weakness and fails its going to be a sharp quick drop to the next high volume node at $2,580. Trading opportunities to go long will be in the green circle in which will be a faster reversal given the location as this would also represent another higher time frame test of the consolidation breakout that happened at the start of September or At a successful spring event test back in the range. or The failure of a spring event not able to reclaim the range and going short to the next high volume node in the green circle.
ICMARKETS:XAUUSD
by littlebakes
2
10.8 Analysis of short-term gold operationsIn the early Asian session on Monday (October 7), spot gold fluctuated in a narrow range and is currently trading around $2,640/ounce. Gold prices fell slightly after violent fluctuations last Friday, closing at $2,652.64/ounce, as the stronger-than-expected US employment report poured cold water on the Fed's expectations of aggressive interest rate cuts in November, boosting the dollar to a high of more than one and a half months, and US bond yields also rose sharply to a high of nearly two months, overshadowing risk aversion concerns over the tense geopolitical situation in the Middle East. Technical level: 1: In 4 hours, BOLL shrinks, the range shrinks, and the range shrinks to the 70 range of 2642-26; in terms of indicators, the stochastic indicators and MACD indicators are all blunt, and the signals are unclear; in terms of form, it is a horizontal pattern, which is not the top high point; 2: In the daily K, the stochastic indicator crosses downward, which is a bearish adjustment signal; in terms of form, the time-for-space pattern, the market is relatively resistant to decline; the central axis gradually moves up, and the current track support of the central axis is around 2590, but it is expected to rise to around 2600;
TVC:GOLDShort
by David_strategy
1
Sideway - little volatility on the first Monday of the week⭐️Smart investment, Strong finance ⭐️GOLDEN INFORMATION: Gold price (XAU/USD) continues its decline for the fourth straight day, trading near $2,650 during early Monday’s Asian session. The stronger US Dollar, following Friday's upbeat Nonfarm Payrolls (NFP) data, is putting downward pressure on gold. The US added 254,000 jobs in September, exceeding August’s revised 159,000 and the market expectation of 140,000. The Unemployment Rate fell to 4.1% from 4.2%. These positive US data reduce hopes of deeper interest rate cuts by the Federal Reserve, boosting the USD and weighing on gold, which is priced in dollars. ⭐️Personal comments NOVA: There is not too much information and important economic news, sideway gold price on Monday at the beginning of the week: 2625 - 2660 ⭐️SET UP GOLD PRICE: 🔥BUY GOLD zone: $2628 - $2630 SL $2623 TP1: $2638 TP2: $2644 TP3: $2650 🔥SELL GOLD zone: $2670 - $2672 SL $2677 TP1: $2660 TP2: $2650 TP3: $2640 ⭐️ 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
Non-farm data is mixed, gold peaks in the short termThe non-agricultural data on Friday went up and down, and it was neither rising nor falling. The 4-hour moving average is sticking together, and it seems that it will break through this week and usher in a big market. Gold has not reached its peak at all, and the 4-hour cycle is still one wave higher than the other. The only bad signal is that the 60-day moving average of the 4-hour cycle has been broken. We can see that in the previous wave of $150 increase, gold did not touch this moving average at all. This signal must be paid attention to. The K-line signal is still bullish, and this wave of triangle consolidation is about to change. Technically, gold has not reached the top yet, and gold has one last rise. Intraday short-term trading strategy: Gold 2665 short stop loss 2670 target 2645---40 Gold 2633 long, stop loss 2623, target 2655---60
TVC:GOLD
by David_strategy
1
How to get rid of a sell order in hand ?If you make money, it's because of your good skills or luck. But how should you deal with orders that lose money? Stop loss or continue to hold? It depends on whether the market continues to rise or fall. I personally think that the market will continue to fall. The main reason is that there is a lot of pressure from above. CAPITALCOM:GOLD BITSTAMP:BTCUSD BINANCE:BTCUSDT For investors who hold short orders, I suggest you continue to hold and wait for a suitable time to close the order. After all, after the stop loss, the loss is huge. Many people cannot accept it. Moreover, many people have different selling timings and positions. Getting rid of the short orders in my hands is my only idea at present. Whether you are a novice or an investor who has been in the market for a long time, you will face this problem. OANDA:XAUUSD Judging from my more than ten years of trading experience, it is only a matter of time before the gold price falls. It is reasonable to mitigate the loss through other transactions in the short term. After all, as long as it reduces the loss, any method can be implemented. Starting next week, I will share my real-time views and operation strategies one after another. If you want to recover your losses, keep paying attention. In this way, while you continue to pay attention to me, you will definitely get help and the answers you want.
TVC:GOLDShort
by George_parse
Gold is in the bullish direction after correcting the supportHello 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
XAU continues sideways - accumulate waiting for new ATH 2705 ✍️ NOVA hello everyone, Let's comment on gold price next week from 10/07 - 10/11/2024 🔥 World situation: Gold prices pulled back after a stronger-than-expected US jobs report suggested that the labor market remains robust, indicating the Federal Reserve (Fed) may ease policy in smaller 25-basis-point increments. Currently, XAU/USD is trading at $2,643, down 0.40%. The US Bureau of Labor Statistics (BLS) reported strong job growth for September, easing concerns about the labor market. This reduced pressure on the Fed, which had previously cut interest rates by 0.50% in September amid concerns about reaching its maximum employment goal. 🔥 Identify: Gold price is sideways - accumulating in a large range of 2625 - 2681. The uptrend on the H4 frame is still stable and waiting for new momentum to reach the next new ATH. In the context of escalating Middle East tensions - gold price continues to increase strongly this year. 🔥 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: $2671, $2685, $2705 Support : $2626, 2588 🔥 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:XAUUSDLong
by Nova-Scalper
1