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GoldViewFX - MARKET UPDATEHey Everyone, Our 1H chart idea shared last Sunday is now complete with all targets HIT. The last target at 1978 needed a cross and lock above 1961 to open 1978. This confirmation gave us enough time to get in for the 1978 target for a perfect finish. We are now seeing a rejection on this level with a massive drop down into support due to NFP. Any open buy positions can be managed with buying dips, as per our long term plans once market settles back into organic movement. Our long term projection still remains Bullish. BULLISH TARGETS 1952 - DONE 1961 - DONE EMA5 CROSS AND LOCK ABOVE 1961 WILL OPEN 1978 - DONE BEARISH TARGETS 1941 - DONE EMA5 CROSS AND LOCK BELOW 1941 WILL OPEN THE SWING RANGE SWING RANGE 1918 - 1895 We will now come back Sunday with our multi timeframe analysis and trading plans for the coming week. Please don't forget to like, comment and follow to support us, we really appreciate it! Have a great weekend all!!! GoldViewFX XAUUSD TOP AUTHOR
OANDA:XAUUSD
by Goldviewfx
2
Reason to Buy XAU/USD Now: Diversification and Inflation HedgeReason to Buy XAU/USD Now: Diversification and Inflation Hedge The XAU/USD represents the exchange rate between gold (XAU) and the US dollar (USD). Here is a compelling reason to consider buying XAU/USD now: Diversification: Investing in XAU/USD can serve as an effective diversification strategy for your investment portfolio. Gold has historically exhibited a low correlation with other asset classes, such as stocks and bonds. During periods of economic uncertainty or market downturns, gold has often shown resilience and acted as a counterbalance to other investments. By including XAU/USD in your portfolio, you can potentially reduce overall portfolio risk and increase its stability. Inflation Hedge: Gold is often considered a hedge against inflation. When inflation rises, the purchasing power of fiat currencies like the US dollar tends to decrease. In contrast, gold has maintained its value over time and has often appreciated during inflationary periods. By owning XAU/USD, you can potentially protect your wealth and preserve purchasing power in the face of inflationary pressures. Global Economic Uncertainty: The global economy is subject to various uncertainties, such as geopolitical tensions, trade disputes, and economic fluctuations. These uncertainties can impact traditional financial markets, leading to increased volatility and potential losses. Gold, including XAU/USD, is widely recognized as a safe-haven asset during times of economic turmoil. Investors often flock to gold as a store of value and a means of preserving wealth. Buying XAU/USD now can provide you with exposure to this safe-haven asset and help mitigate the risks associated with uncertain economic conditions. Central Bank Actions: Central banks play a significant role in influencing the value of fiat currencies. When central banks implement expansionary monetary policies, such as quantitative easing or lowering interest rates, it can potentially lead to currency devaluation. In such situations, gold tends to gain value, as it is not directly influenced by central bank actions. By investing in XAU/USD, you can protect yourself against potential currency devaluation resulting from central bank policies. Technical Analysis: Examining technical indicators and chart patterns can provide insights into the XAU/USD price trends. Traders and investors often use technical analysis to identify potential buying opportunities. It is advisable to consult with professional analysts or conduct thorough research to make informed decisions based on technical analysis. Conclusion: Buying XAU/USD now can provide diversification benefits, act as an inflation hedge, and offer protection during times of economic uncertainty. However, it is important to note that investing in any financial instrument involves risks, and market conditions can change rapidly. Before making any investment decisions, it is recommended to conduct thorough research, consider your financial goals, and consult with a financial advisor to assess whether buying XAU/USD aligns with your investment strategy and risk tolerance.
OANDA:XAUUSD
by eretusam
1
Gold could break above 2020 resistanceYesterday, Gold consolidated in a tight range and, in fact, this is the case since Friday's low at 2k support. As I said yesterday, in my opinion, the drop from 2065 is only a correction, not an overall trend reversal, and this correction could very well be over now. In conclusion, my strategy remains unchanged: buy dips in anticipation of a break above the 2020 resistance. In the case of a break above this level, the price could accelerate to the upside to the next level of resistance in the 2040-2045 zone.
OANDA:XAUUSD
by Mihai_Iacob
24
GOLD (XAUUSD): Your Trading Plan For Today🥇 Gold dropped to a key horizontal support last week. The price bounced from that and formed a rising triangle on 4H time frame. The neckline of a triangle is based on an intraday horizontal resistance. Its bullish violation (4H candle close above) can be a nice trigger to buy Gold with a confirmation. A bullish continuation will be expected to 2037 then. Alternatively, a bearish movement and a breakout of a green support may push the price lower. ❤️Please, support my work with like, thank you!❤️
OANDA:XAUUSDLong
by VasilyTrader
4
GOLD Possible drop to daily 20EMAInstrument : GOLD Possible direction : Bearish Technical Analysis : From daily timeframe price has formed daily doji which has formed after multiple liquidity grab from both support and resistance. We see a clear head & shoulder on the 1h chart that has led gold to breakdwon from the trend line and may lead the price to daily 20EMA. On the retest of the hourly trend line a sell trade is high probable for short term. Possible trade recommendation : Bearish as per chart sketch Press like button if you enjoy. Risk Disclaimer: Trading foreign exchange on margin carries a high level of risk, and is not suitable for all investors. Past performance is not indicative of future results. The high degree of leverage is dangerous and can work against you as well as for you. Before deciding to invest in foreign exchange or any market you should carefully consider your investment goals, level of experience, and risk tolerance. It is EXTREMELY LIKELY that you will sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. No representation is being made that any account will or is likely to achieve profits or losses. Past performance is not indicative of future results. Individual results vary and no representation is made that clients will or are likely to achieve profits or incur losses comparable to those that may be shown. You acknowledge and agree that no promise or guarantee of success or profitability has been made between you, and Forex Trading Wizard. Do your own research and talk to a professional financial planner in order to be aware of all the risks associated with foreign exchange trading and investing and seek advice from an independent financial advisor before risking any capital.
TVC:GOLDShort
by ForexWizard01
XAU/USD Aims to Cross $2,050 Hurdle with Easing US InflationGold price (#XAUUSD) has faced mixed sentiment and sluggish US dollar ahead of the US inflation data. Despite the challenges, the progress on the US debt ceiling negotiations and optimism surrounding Asia have underpinned the #XAUUSD run-up. Technical analysis suggests that the upper band of the Bollinger on the daily chart joins Pivot Point one-day R2 and the previous monthly high to cite the $2,050 level as an important upside hurdle for the #XAUUSD. The $2,025 support confluence including Fibonacci 23.6% on one month, Fibonacci 61.8% on one-day and the lower band of the Bollinger on the hourly chart is also a crucial level to watch. In terms of gold futures markets, traders added around 3.8K contracts to their open interest positions on Tuesday, adding to Monday’s build. Volume, in the same line, went up by around 20.8K contracts after two consecutive daily drops. The continuation of the weekly recovery in gold appears likely on the back of Tuesday’s advance amidst rising open interest and volume, with the yellow metal remaining focused on the 2023 peak near $2070 recorded earlier in the month. TRADE IDEA DETAILS CURRENCY PAIR: #XAUUSD CURRENT TREND: Uptrend (3-week) TRADE SIGNAL: ↗️Buy 👉ENTRY PRICE: $2,035 ✅TAKE PROFIT: $2,080 ❌STOP LOSS: $2,015 #GoldPriceForecast #TechnicalAnalysis #USInflation #GoldFutures #XAUUSD #USDebtCeiling #AsiaOptimism #Tradernotes #MarketUpdates
OANDA:XAUUSDLong
by RichDadph-FX
1
Gold- Will this be the expected move to new ATH?As I said for quite some time, I expect a new ATH from Gold, and also yesterday, in my post I suggested buying dips as a strategy. Indeed, after a very short-lived dive under 2010, XauUsd exploded to the upside again and reached 2067, only 8usd from the old ATH. Now the price is in a normal correction and this correction could offer bulls again a good price to enter. The first support is around 2040, followed by the 2020 zone. Only a drop and close under yesterday's low would put a pause on this strongly bullish scenario
OANDA:XAUUSD
by Mihai_Iacob
7