GOLD (XAUUSD): Support & Resistance Levels For Next Week
Here is my latest structure analysis and important key levels
to watch on GOLD next week.
Resistance 1: 2315 - 2327 area
Resistance 2: 2375 - 2387 area
Resistance 3: 2426 - 2450 area
Support 1: 2265 - 2286 area
Support 1 and Resistance 3 compose a wide horizontal range on a daily.
Consider the underlined areas for pullback/breakout trading next week.
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Goldsignals
Gold Analysis (Expect More Falling)!!!Gold has managed to break the Support zone($2,337-$2,318) and 50_SMA(Daily) .
According to Elliott's wave theory , Gold is completing its next 5 downtrend waves .
It is possible to form a Descending Channel , Gold can react to the lower line of the descending channel.
I expect Gold to continue falling to the next Support zone($2,272-$2,248) .
Gold Analyze ( XAUUSD ), 4-hour time frame ⏰.
Do not forget to put Stop loss for your positions (For every position you want to open).
Please follow your strategy; this is just my idea, and I will gladly see your ideas in this post.
Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends; thanks, and
GOLD ROUTE MAP UPDATEHey Everyone,
A great week tracking the entire move up completing all our targets, which followed with the rejection today with a massive tank below 2390 Goldturn all the way down into the retracement range completing this full setup.
EMA5 is now testing this level and will need a cross and lock below 2310 to open the swing range or failing that a support bounce here.
Our monthly chart correctional detachment is now finally coming into play. A full attachment is not needed, as it can attach on the move up with magnetisation.
Due to NFP the majority of the day was just an observation day for us, as we already secured a great week, yet we were still able to scalp using our levels.
BULLISH TARGETS
2331 - DONE
EMA5 CROSS AND LOCK ABOVE 2331 WILL OPEN THE FOLLOWING BULLISH TARGETS
2345 - DONE
2359 - DONE
EMA5 CROSS AND LOCK ABOVE 2359 WILL OPEN THE FOLLOWING BULLISH TARGETS
2364 - DONE
POTENTIALLY 2390
BEARISH TARGETS
2310 - DONE
EMA5 CROSS AND LOCK BELOW 2310 WILL OPEN THE SWING RANGE
SWING RANGE
2285 - 2274
As always we will now come back Sunday with our multi time-frame analysis, Gold route map and trading plans for the week ahead. Please don't forget to like, comment and follow to support us, we really appreciate it!
Have a great weekend all!!
Mr Gold
GoldViewFX
Gold Analysis=>Long and Short PositionGold seems to have succeeded in breaking the Resistance zone($2,373-$2,353) .
According to the Elliott wave theory , Gold still needs to increase to complete its 5-wave uptrend.
I expect Gold to start rising again after the pullback to the resistance zone and go up to Potential Reversal Zone(PRZ) .
Gold Analyze ( XAUUSD ), 15-minute time frame ⏰.
Do not forget to put Stop loss for your positions (For every position you want to open).
Please follow your strategy; this is just my idea, and I will gladly see your ideas in this post.
Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends; thanks, and
XAUUSD Top-down analysis Hello traders, this is a complete multiple timeframe analysis of this pair. We see could find significant trading opportunities as per analysis upon price action confirmation we may take this trade. Smash the like button if you find value in this analysis and drop a comment if you have any questions or let me know which pair to cover in my next analysis.
GOLD: Bullish Setup Anticipated Amid USD Weak and Low Treasury YGOLD: Bullish Setup Anticipated Amid USD Weak and Low Treasury Yields
On Tuesday, gold dropped to the $2,315 area, nearing the multi-week low touched the previous day, influenced by a modest strengthening of the US Dollar (USD). Despite the USD's attempted recovery from its over two-month low, there was no significant follow-through, due to increasing expectations that the Federal Reserve (Fed) will cut interest rates later this year, bolstered by softer US macroeconomic data. These expectations have kept US Treasury bond yields depressed, which in turn has benefited the non-yielding yellow metal during the European session on Wednesday.
Technical Analysis Overview
For today's session, we are looking for a long setup for gold, particularly in light of the upcoming ISM Services PMI release in the US. From a technical perspective, several confluence factors support a bullish outlook:
1. Rebound from the 50% Fibonacci Level: The price has rebounded from the 50% Fibonacci retracement level, a significant support area indicating potential for upward movement.
2. Divergence on the H4 Chart: A divergence on the H4 chart suggests that selling pressure is weakening, further supporting the case for a bullish setup.
These technical indicators align to suggest that gold is positioned for a potential upward move.
Key Factors Influencing Gold
1. USD Strength and Fed Rate Cut Expectations: While the USD showed modest strength, it lacked sustained momentum due to growing expectations that the Fed will start cutting interest rates later this year. Softer US macro data has reinforced this outlook.
2. US Treasury Yields: Depressed US Treasury yields, influenced by expectations of Fed rate cuts, are benefiting gold. Lower yields decrease the opportunity cost of holding non-yielding assets like gold, making it more attractive.
Market Strategy
Given the current technical setup and fundamental backdrop, our strategy involves looking for a long position in gold. The rebound from the 50% Fibonacci level and the observed divergence on the H4 chart support this approach. Additionally, the anticipation of the ISM Services PMI release adds a potential catalyst for movement.
Conclusion
Gold has experienced some downward pressure but remains supported by underlying factors such as low US Treasury yields and expectations of future Fed rate cuts. The technical indicators, including the rebound from the 50% Fibonacci level and the divergence on the H4 chart, suggest a bullish setup is likely. As a result, the current market environment presents an opportunity to look for long positions in gold, particularly in anticipation of supportive economic data releases.
GOLD will break out strongly this year and set a new peakbuy gold 2360-235x
SL 2343
TP 2395
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- Gold charges regularly react inversely to the USD. The US Nonfarm file may be an critical aspect affecting the USD and consequently additionally affecting gold charges. If reported
- Strong Nonfarm file, reinforcing expectancies that the United States Federal Reserve (Fed) will hold to tighten financial policy, the USD might also additionally growth in price, thereby setting downward stress on gold charges.
- Conversely, if the Nonfarm file is weaker than expected, the USD ought to weaken, growing gold charges because the possibility fee of preserving non-yielding property decreases.
- Investors will intently screen financial reviews to alter their positions on gold.
GOLD CHART ROUTE MAP UPDATEHey Everyone,
A PIPTATSIC finish today starting with our 2359 target HIT!!!!! We called this target yesterday, and the day before to complete this range
This target followed with the cross and lock above 2359 opening 2374 and potentially 2390 at a stretch. 2374 was also hit today with a dip back to 2359 for support and then buying dips inline with our plans for the bounce back into our target of 2374. JUST PERFECT!!!!
We call 2390 a potential but will need an ema5 lock to further confirm this target.
We will keep the above in mind when taking buys from dips. Our updated levels and weighted levels will allow us to track the movement down and then catch bounces up.
We will continue to buy dips using our support levels taking 30 to 40 pips. As stated before each of our level structures give 20 to 40 pip bounces, which is enough for a nice entry and exit. If you back test the levels we share every week in the past 24 months, you can see how effectively they were used to trade with or against short/mid term swings and trends.
BULLISH TARGETS
2331 - DONE
EMA5 CROSS AND LOCK ABOVE 2331 WILL OPEN THE FOLLOWING BULLISH TARGETS
2345 - DONE
2359 - DONE
EMA5 CROSS AND LOCK ABOVE 2359 WILL OPEN THE FOLLOWING BULLISH TARGETS
2364 - DONE
POTENTIALLY 2390
BEARISH TARGETS
2310
EMA5 CROSS AND LOCK BELOW 2310 WILL OPEN THE SWING RANGE
SWING RANGE
2285 - 2274
As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Please don't forget to like, comment and follow to support us, we really appreciate it!
Mr Gold
GoldViewFX
GOLD 1H CHART ROUTE MAP UPDATEHey Everyone,
A great day on the chart today, riding the entire move up after having the gap left open from yesterdays update.
Yesterday we updated that our cross and lock confirmation opened 2345 and 2359. 2345 was hit and only 2359 was left.
2331 provided the support with no lock below confirming the rejection followed with the push up, riding the move all the way up, just a few pips short of 2359.
This final target will #complete this range. We will then need a cross and lock above 2359 to open the range above or a rejection here will see a drop down to look for support at 2345 and 2331 Goldturns.
We will keep the above in mind when taking buys from dips. Our updated levels and weighted levels will allow us to track the movement down and then catch bounces up.
We will continue to buy dips using our support levels taking 30 to 40 pips. As stated before each of our level structures give 20 to 40 pip bounces, which is enough for a nice entry and exit. If you back test the levels we share every week in the past 24 months, you can see how effectively they were used to trade with or against short/mid term swings and trends.
BULLISH TARGETS
2331 - DONE
EMA5 CROSS AND LOCK ABOVE 2331 WILL OPEN THE FOLLOWING BULLISH TARGETS
2345 - DONE
2359 -
BEARISH TARGETS
2310
EMA5 CROSS AND LOCK BELOW 2310 WILL OPEN THE SWING RANGE
SWING RANGE
2285 - 2274
As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Please don't forget to like, comment and follow to support us, we really appreciate it!
Mr Gold
GoldViewFX
XAUUSD Top-down analysis Hello traders, this is a complete multiple timeframe analysis of this pair. We see could find significant trading opportunities as per analysis upon price action confirmation we may take this trade. Smash the like button if you find value in this analysis and drop a comment if you have any questions or let me know which pair to cover in my next analysis.
Gold price movements tend to decreaseGold edged lower to $2,330 per ounce on Wednesday, as the US dollar stabilized ahead of May’s US jobs report expected later this week. The US nonfarm payrolls will be closely watched as investors seek cues on the potential timing of the Fed rate cut
🔴SELL GOLD: 2348 - 2350, SL: 2354
🟢BUY GOLD: 2307 - 2305, SL: 2301
Breakout & retest:
📉Breaking and closing on 2338 - 2354 - 2360
📈 Break and close below: 2322 - 2315 - 2306 -2300
🔼Support: 2322 - 2315 - 2305
🔽Resistance: 2338 - 2348 - 2354 - 2360 - 2374
GOOD LUCK EVERYONE👍
Today's news will affect prices
GOLD 1H CHART ROUTE MAP UPDATEHey Everyone,
Please see update on our 1h chart shared on Sunday. We got our 2331 hit followed with a cross and lock opening 2345 and 2359. 2345 was hit and now only 2359 left.
The rejection before this gap followed with a repeat of yesterdays action to find support just above the retracement range again. We were able to buy dips inline with our plans to manage the range.
As long as we have ema5 above 2310, we should another attempt on the range above level to level or a cross and lock below 2310 will confirm the swing range.
We will keep the above in mind when taking buys from dips. Our updated levels and weighted levels will allow us to track the movement down and then catch bounces up.
We will continue to buy dips using our support levels taking 30 to 40 pips. As stated before each of our level structures give 20 to 40 pip bounces, which is enough for a nice entry and exit. If you back test the levels we share every week in the past 24 months, you can see how effectively they were used to trade with or against short/mid term swings and trends.
BULLISH TARGETS
2331 - DONE
EMA5 CROSS AND LOCK ABOVE 2331 WILL OPEN THE FOLLOWING BULLISH TARGETS
2345 - DONE
2359
BEARISH TARGETS
2310
EMA5 CROSS AND LOCK BELOW 2310 WILL OPEN THE SWING RANGE
SWING RANGE
2285 - 2274
As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Please don't forget to like, comment and follow to support us, we really appreciate it!
Mr Gold
GoldViewFX
Gold is Ready to break Support zone!!!Gold is moving near the Resistance zone($2,373-$2,353) , Resistance lines , Monthly Pivot Point , and Yearly Resistance(2) .
According to Elliott's wave theory , Gold seems to be completing the Flat Correction(ABC/3-3-5) .
I expect Gold to break the Support zone($2,337-$2,318) soon.
Gold Analyze ( XAUUSD ), 1-hour time frame ⏰.
Do not forget to put Stop loss for your positions (For every position you want to open).
Please follow your strategy; this is just my idea, and I will gladly see your ideas in this post.
Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
GOLD SELL | Idea Trading AnalysisGOLD moving higher as it tests the strong resistance level.. is near the resistance, where price dropped before.
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 EURUSD
I still did my best and this is the most likely count for me at the moment.
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Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 🤝
Crude Oil - Turbo TuesdayWell yesterday all targets where hit and some!
Today we have more targets to meet and London has not dissapointed so far
NY we will see what happens but for now I have Monthly ssl and weekly CE of wick and the Daily SSL as 3 main draws that will act as Bearish Bias.
That is the Forecast!
GOLD MARKET UPDATEHey Everyone,
Great start to the week with our chart idea playing out perfectly.
As stated we are we got a drop into the retracement range no ema5 cross and therefore nice bounce all the way into hitting our Bullish target 2339 and now heading towards 2360 target.
We are looking for the ema5 lock to further confirm 2360 Goldturn to complete this range targets.
We will continue to see play between the weighted levels and until one breaks to open the next one. True level to level tracking and trading.
We will keep the above in mind when taking buys from dips. Our updated levels and weighted levels will allow us to track the movement down and then catch bounces up.
We will continue to buy dips using our support levels taking 30 to 40 pips. As stated before each of our level structures give 20 to 40 pip bounces, which is enough for a nice entry and exit. If you back test the levels we share every week in the past 24 months, you can see how effectively they were used to trade with or against short/mid term swings and trends.
BULLISH TARGETS
2339 - DONE
EMA5 CROSS AND LOCK ABOVE 2339 WILL OPEN THE FOLLOWING BULLISH TARGET
2360
EMA5 CROSS AND LOCK ABOVE 2360 WILL OPEN THE FOLLOWING BULLISH TARGET
2389
BEARISH TARGETS
2313
EMA5 CROSS AND LOCK BELOW 2313 WILL OPEN THE FOLLOWING SWING RANGE
SWING RANGE
2290 - 2275
As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Please don't forget to like, comment and follow to support us, we really appreciate it!
Mr Gold
GoldViewFX
XAUUSD forming the first 4H Death Cross in 5 months!Gold (XAUUSD) broke below the 1D MA50 (red trend-line) and is forming today the first 4H Death Cross since January 12. As we mentioned on our previous analysis, we expect the yellow metal to trade sideways on the medium-term and that involves the price testing the May 03 Low on a potential contact with the 1D MA100 (green trend-line).
This will be a mirror trade of the previous Accumulation Phase (late 2023 - early 2024), when Gold made contact with the 1D MA100 on February 13 2024 and then immediately started the new Bullish Leg.
Our Target remains 2280.
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Sell EURUSDThe EURUSD pair has rejected the resistance zone at least four times and is now indicating a potential reversal to the downside. The price action on the EURUSD chart is showing signs of exhaustion as it struggles to break above the resistance zone. Traders are closely monitoring the key support levels for any potential breakdown, which could lead to a shift in market sentiment towards a bearish outlook.
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