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GOLD Price Awaits US NFP Data Amidst Dollar ConsolidationGold Price Awaits US NFP Data Amidst Dollar Consolidation Gold prices are showing signs of stabilization after two consecutive days of correction from an 11-month high. The recent consolidation of the United States Dollar (USD) has provided some respite to the precious metal, which had experienced downward pressure. However, the fate of gold remains uncertain as investors eagerly await the release of the US Nonfarm Payrolls (NFP) data, a crucial indicator that could shape the direction of both the USD and gold in the near term. Gold Price Recap Gold price (XAU/USD) is currently hovering around the $1,820 mark after bouncing back from a weekly low of $1,813 during the early Asian trading session on Friday. The precious metal is grappling with headwinds as the Federal Reserve (Fed) is expected to maintain its 'higher-for-longer' stance on interest rates. Market participants are looking to the highly-anticipated US Nonfarm Payrolls report for clarity on the state of the labor market. Market Dynamics The subdued tone surrounding the US Dollar can be attributed to a moderately optimistic sentiment in the Asian session, despite mixed developments in the Chinese property market. Nevertheless, the precious metal remains under pressure as higher US Treasury yields weigh on non-yielding assets like gold. The US Dollar Index (DXY) has retreated to 106.40 after pulling back from monthly highs. US Treasury yields have also eased, with the 10-year Treasury yield dropping to 4.73%, while the 2-year yield remains at 5.02%. Key Data and Market Focus The US Initial Jobless Claims for the week ending on September 30 improved to 207,000 from the previous reading of 205,000, surpassing market expectations of 210,000. Furthermore, the US Balance of Trade deficit was $58.3 billion, lower than the anticipated $62.3 billion and the $64.7 billion recorded in July. The US employment data set to be released on Friday will be the focal point for traders. Nonfarm Payrolls are expected to rise by 170,000, a decrease from the 180,000 additions reported in August. The Unemployment Rate is estimated to drop slightly from 3.8% to 3.7% in September, while Average Hourly Earnings are likely to rise by 4.3% year-on-year, consistent with the previous figure. The outlook for Gold Gold traders are closely monitoring the US Average Hourly Earnings data for September, the Nonfarm Payrolls report, and the Unemployment Rate. These data releases have the potential to induce market volatility and guide trading decisions. Depending on the outcome of the NFP report, gold prices may either make a push toward $1,850 and beyond in the event of a weak report or face headwinds if the data suggests the Fed could pursue another rate hike by year-end. In Conclusion Gold prices are stabilizing as the US Dollar consolidates, but the impending US Nonfarm Payrolls data release remains a significant driver of market sentiment. Investors are poised for potential market movements following the NFP release, with the direction of both the USD and gold hanging in the balance. Our preference Below 1851.000 look for further downside with 1805.00 & 1790.00 as targets.
OANDA:XAUUSDShort
by FOREXN1
10
XAUUSD:3/10 Today’s Trading StrategyGold prices fell to their lowest settlement price since March on Monday and are heading toward a so-called "death cross," which could lead to further falls. In early Asian trading on Tuesday, spot gold continued its decline, with the price once hitting a nearly seven-month low of $1,815. However, fundamentally, “interest rates and the Fed’s hawkish stance are still the theme of this game and the market’s focus in the coming weeks. The main driving force”. The last time gold prices fell this low was more than six months ago, when a regional U.S. banking crisis triggered an influx of buyers. “Then, as now, pressure on gold prices came from rising U.S. government bond yields and an assessment of expectations for higher long-term interest rates. Judging from the current daily structure, all important positions that could provide technical support in the past have been broken. It seems that the decline has lost its support basis. Gold bulls have been completely passive. Even if the US dollar index appears to be under pressure, it will not be helpful to gold bulls. Therefore, when gold can stop falling and rebound in the future, and when bulls can exert force, it may require the influence of fundamentals. Without the support of positive fundamental factors, even if gold stops falling and rebounds, its strength and space may not be able to eliminate the extreme emotional pressure of short sellers. Therefore, for the future trend of gold, we need to pay close attention to changes in fundamental factors and market sentiment. Judging from the daily analysis, the gold moving average continues to cross downwards, and the short trend is still obvious. Gold has been falling all day without any rebound. It is difficult to say when this trend will bottom out. It can only be said that it continues to be short with the trend. Gold rebounded slightly to 1840 and then fell back. This shows that gold 1840 still has great resistance. Overall The technical pattern is very clear for short positions. Any rebound is a short-selling opportunity. Keep trading with the trend. Taken together, today's gold operation idea is to focus on short selling on rebounds. If you go long on callbacks, you can only make about 5 US dollars before leaving the market. SELL:1828~1830 SL:1835 TP1:1821 TP2:1816 TP3:1805 BUY:1805~1808 SL:1800 TP:1815
OANDA:XAUUSDShort
by ActuaryJ
1
XAUUSD:4/10 Today’s Trading StrategyYesterday, the technical side of gold rose first and then fell. The Asian market quickly fell back and fell to near the 1815 mark, which ushered in a shock rebound. It rebounded further in the afternoon and went up to above 1825, falling into sideways consolidation. Later, the U.S. market accelerated slightly and surged above 1833, falling back and closing with shock. , the daily K-line closing suppressed the volatile negative line, and the overall price continued to be under pressure at the 1833 mark to continue the weak short position. The current weak short position line focuses on the opening of the US market yesterday at 1833, and the daily line level failed to break through and stand above this position to continue to maintain To suppress the short position, today's counter-draw continues to rely on the 1830-1833 area to be mainly bearish and then to see the decline. The lower target level is still focused on breaking the bottom. The upper part of the overall shape continues to maintain the suppressing short position unchanged. The counter-draw continues to be mainly bearish. Below 1833, the counter trend is long. You need to be cautious and continue to participate in transactions with the trend; ​ Judging from the one-hour pattern, the gold price fell rapidly yesterday and stopped at 1815, and then rebounded close to 17 US dollars. However, it was just a normal decline and rebound. After the pressure level is confirmed, the decline mode will continue. The turning point for shorts in the early stage was at 1830. The trend of the hourly line has repeatedly attacked 1830, but all of them have failed so far. The one-hour moving average pressure has been revised down to 1828, while the pressure on the trend line is at 1837. It has not stabilized at 1837. We are still We cannot think that the market has reversed, and if there are short signals during the period, we will continue to be bearish! In the short term during the day, continue to choose high-altitude operations; continue to follow the short principle! Today, focus on the resistance of 1830-1833 at the top and the support at 1815-1804 at the bottom. Continue to look down after breaking the position; the target position for this decline is 1800-1795 support, and the target will be bullish when the target reaches here; Taken together, today's gold short-term operation thinking is Jiesse's suggestion to mainly go short on the rebound, and then go long on the pullback. The top short-term focus will be on the 1830-1833 first-line resistance, and the bottom short-term focus will be on the 1815-1804 first-line support. All friends must keep up with the rhythm. It is necessary to control positions and stop loss issues, set stop losses strictly, and never resist orders. The recent market turmoil has been relatively large, and opportunities and risks coexist. Control risks and gain profits. SELL:1830~1828 SL:1835 TP1:1822 TP2:1816 BUY:1804~1806 SL:1799 TP:1815
OANDA:XAUUSD
by ActuaryJ
Gold price is closer to target GOLD The gold price has shown secondary and narrow trading since the morning, settling around the 1825 level, and therefore, no change in the expected bearish trend scenario for today, Stabilized above 1825 would help the price reach 1832, 1846 , and 1861 For whatever reason if the price drops and stabilizes below 1825 it will be under selling pressure again to reach 1815, 1805 and 1792 Pivot Price: 1825 Resistance Price: 1834 & 1846 & 1861 Support price: 1815 & 1805 & 1792 timeframe: 4H
TVC:GOLD
by Evar_Mayi
Gold- Before NFP and beyond technical analysisLet's think beyond technical analysis and consider what Gold is likely to do. We all see it's at a support level, and we're expecting a correction after a 1000 pip drop. In the long term, it's in a descending channel, and to reach the channel's resistance, it needs to rise to 1880, which is 600 pips away. So, two questions arise: Is it that simple for Gold to stay put for three days so everyone can buy and profit? Secondly, who's selling if everyone sees this? Are they blind, or do they want to lose? With that in mind, I believe Gold will continue to decline, and I have two scenarios for NFP: 1. A spike up and then a drop below support. 2. A direct drop below support. Of course, I could be wrong.
OANDA:XAUUSD
by Mihai_Iacob
20
GOLD movement trendWorld gold spot price stands around 1,822.7 USD/ounce, up 3.6 USD/ounce compared to last night. The price of gold futures delivered in December on the Comex New York floor is at 1,836.5 USD/ounce. The gold market did not have much reaction to the new numbers on labor in the US. US 10-year government bond yields left the highest level in the past 16 years. The USD also fell, thereby reducing the pressure on gold. New York Fed President John Williams said the central bank may hold off on raising interest rates as inflationary pressures, while still high, are returning to the official target. TVC:GOLD BUY 1819 - 1817🔼🔼 ✔️TP1: 1824 ✔️TP2: 1830 ❌SL: 1812
TVC:GOLDLong
by FalCol_TradingMaster
1
Gold- Drop- Base- Drop pattern?After the break under 1915 important confluence support that I've spoken about, XauUsd dropped like a stone, with a drop counting 1000 pips. Although most of us expected some correction after, Gold started to consolidate instead and bulls were unable to elevate the price to confirm the last broken support level at 1855 (at least so far) The price action from Tuesday looks like it wants to form a "drop-base-drop" pattern and a break of 1810 zone would confirm this scenario. In such an instance traders could expect a new wave of strong selling and the new led down could lead to a drop at 1730 zone support. In any case, Gold remains strongly bearish as long as the price is under 1855
OANDA:XAUUSDShort
by Mihai_Iacob
4
Seize the opportunity to go long gold in the short termToday we are still long gold near 1815. Gold has rebounded to around 1820. Our current long gold position still has good profits. For gold, although gold has not really started its upward trend yet, gold has been fluctuating in the 1820-1815 area recently, and gold is currently showing signs of bottoming. As gold bottoms out, gold will start a new round of rising prices at any time. And in terms of technical attributes alone, gold is currently in a technical oversold zone, and the chart shows a bottom divergence signal. After gold falls below the triangle shape, gold is likely to complete a bottom in a short period of time and start a rebound at any time. In fact, as long as you grasp the rhythm, it is easy to profit from gold trading. If you don't know the accurate trading rhythm, you can follow my trading ideas. I post my trading ideas every day and I also post free trading signals on a regular basis. Many friends have given feedback that it is very helpful. If you want to learn market trading logic, or you want clear trading signals and get more profits, I can satisfy you. Be sure to follow the bottom of the article to view the details!
OANDA:XAUUSDLong
by Trader_Antonio
THE KOG REPORT - NFPNFP – KOG Report: This is our view for NFP tomorrow, please do your own research and analysis to make an informed decision on the markets. It is not recommended you try to trade the event if you have less than 6 months trading experience and have a trusted risk strategy in place. The markets are extremely volatile, and these events can cause aggressive swings in price. We’ve done well with Gold so far with our bias and targets to the downside being completed. We suggested on the KOG Report that we’re a bit low in a region here to attempt shorting, unless scalping using the red box strategy which has done well. For NFP, we’re likely to sit out as we want to see where they take the price and close the daily and weekly candle. This we feel will determine whether to start longing the lows temporarily, or, to continue with the bias to the downside looking for a temporary bottom before an aggressive push up. Our Monthly, and weekly charts still show lower targets, but we’ll have to play it how we see it. For this NFP, we’ll be looking at order regions and extreme levels only. If we don’t get them we’re happy to sit out and wait until next week where better setups are sure to arise. For new traders, we would suggest you don’t trade the event, rather wait until next week and then look for a good set up to get in. We have the levels above order region 1830-35 which if held could represent an opportunity to short the market down into the lower levels below 1800 as illustrated on the chart. Please note, breaking below 1790 and we will suffer further losses before a technical retracement, breaking above the order region will take us in the next level above. Above the first order region we have 1850-55 and 1860-8 in extension, these are the first resistance levels we will be looking at for a reaction in price to take this down. Again, breaking that level and the next region above which is preferred is 1880-85 which would represent an opportunity to short the market. The reason they’re stretched is because the price is stretched, and unless we get a good return on our trade, we’re not interested in the noise. Please members, don't try and trade this up and down! Look for one level which fits with your analysis and strategy, wait for it and test it with a risk strategy in place. Those who think they will be able to long into one level, then short it back usually fail, unless they're experienced traders. Please do support us by hitting the like button, leaving a comment, and giving us a follow. We’ve been doing this for a long time now providing traders with in-depth free analysis on Gold, so your likes and comments are very much appreciated. As always, trade safe. KOG
FX:XAUUSD
by KnightsofGold
14
SasanSeifi 💁‍♂️ 🟡 XAUUSD /weekly◼In the weekly timeframe, as you can see, the price has been in a corrective phase since it fell below the $2060 range. After experiencing some positive fluctuations, it has once again entered the FAIR VALUE GAP zone. Currently, it's trading around $1851, and the overall trend in the weekly timeframe is bearish. If the price continues to stay below the LOW of the $1885 range and the weekly candle closes strongly bearish, we can expect that the price will continue its correction in the medium term towards the support levels at $1830, $1800, and $1780. To get a better understanding of the price's future movement, we need to monitor how it reacts to these support levels. If the support levels hold and are confirmed on lower timeframes, there might be some partial positive fluctuations.❗❗ ◼On the other hand, if the support ranges break down, the possibility of a more significant correction in the long-term timeframe could be considered.❗ ⭕The important resistance range is $1890 to $1918. ✨What's your opinion? Do you agree? 🔵Remember, always conduct your own analysis and consider other factors before making any trading decisions. Good luck!"✌️ ❎ (DYOR)...⚠️⚜️ Sure, if you have any more questions or need further clarification, feel free to ask. I'm here to help! if you found my analysis helpful, I would appreciate it if you could show your support by liking and commenting. Thank you!🙌✌
OANDA:XAUUSDShort
by SasanSeifi
What is the target of gold? Check idea.Yes, let's see what the trend of the market is.   We see that the market is running exactly as it was yesterday because neither the market has yet broken the support at 1816 nor the resistance at 1830.   Seeing that the market is currently at 1823, we believe the market will go up a bit.   If the market fails to break the 1830 resistance, then it will come down again, and our targets for today are 1806 and 1790. If the market breaks the 1830 resistance, then our next resistance is 1835, and we hope that the market will definitely come down from there and meet our target, which is 1806 or 1790. If you like our analysis, then you can boost our posts. You can leave a comment in the comment section.   Good luck and best wishes to everyone.
OANDA:XAUUSDShort
by MsProTrading
1
GOLD 4H Further decline awaitsGOLD The gold price has shown secondary and narrow trading since the morning, settling around the 1825 level, and therefore, no change in the expected bearish trend scenario for today, Stabilized above 1825 would help the price reach 1832, 1846 , and 1861 For whatever reason if the price drops and stabilizes below 1825 it will be under selling pressure again to reach 1815, 1805 and 1792 Pivot Price: 1825 Resistance Price: 1834 & 1846 & 1861 Support price: 1815 & 1805 & 1792 timeframe: 4H
TVC:GOLDShort
by Evar_Mayi
XAUUSD: 2/10 Today’s Trading StrategyGold continued to consolidate at low levels on Monday. Gold prices suffered a sharp sell-off last week, continuing and accelerating the downward trend that began after the Federal Reserve raised interest rates on the 20th and kept interest rates unchanged. Previously, the Federal Reserve reiterated that interest rates will remain high for a longer period than previously expected. , and there will be at least one 25 basis point interest rate hike. Gold has been sold off due to concerns about high interest rates, and gold prices may fall further in the first week of October. The interest rate theme has markets on edge and gold's behavior as the Federal Open Market Committee (FOMC) has been aggressively bearish. Gold fell rapidly to $1,850 in a short period of time last week. The bearish situation seems not to be over yet. After the gold price rebounded on Friday, it tested the resistance and then was pressured to break through the bottom. The price has gone out of the space of tens of dollars in both long and short positions during the day. The current gold trend is downward, and the market on Friday is a buying after oversold. The rebound of the market! Surprises can also happen in trending markets! Gold has no real moving average support in the booth and before the moving average golden cross, the downward trend will continue! The current key pressure is still the pressure position of the 4-hour mid-track! The two moving averages are parallel and downward, which means that the trend is intact, so just rely on the pressure position to go short. The short-term long-short watershed is currently around 1867. Shock adjustments began in early trading this Monday. The current moving average maintains a long-term dead cross suppressing the price of gold. The pressure on the short-term moving average has reached the 1861 line, while the pressure on the trend line is at the 1860 line. However, such a big rebound is not expected during the day. , today’s solid operation strategy is to wait for the price to rebound before going short. SELL:1845-1848 SL:1853 TP1:1938 TP2:1832 TP3:1828 It is currently in a downward trend, and the risk of going long is relatively high. It is not recommended to participate.
OANDA:XAUUSDShort
by ActuaryJ
1
GOLD XAUUSD Technical Analysis and Trade IdeaIn this extensive video analysis, we conduct an in-depth examination of XAUUSD GOLD's dynamics. It becomes apparent that GOLD has encountered significant downward pressure in recent times, resulting in its decline toward a crucial monthly and weekly support level. The chart prominently displays an extended price movement, suggesting the potential for an impending retracement. Our discussion encompasses vital aspects of technical analysis, including a look at the prevailing trends, meticulous scrutiny of price action, an assessment of market structure, and an exploration of various other critical elements intrinsic to technical analysis. Throughout the entirety of the video, we elucidate each concept, ensuring a comprehensive and enlightening point of view for our audience. It is imperative to underscore that the content presented in this video is intended solely for educational purposes. Viewers should refrain from interpreting it as financial advice or counsel. It is essential to keep in mind that trading inherently carries a heightened level of risk, and responsible risk management should always remain paramount in your trading endeavours.
OANDA:XAUUSDShort
by fxtraderanthony
1
Direction of movement of XAUUSDWorld gold prices last night almost only fluctuated in the range of 1,820 - 1,830 USD/ounce. By 6 a.m. on October 4, today's gold price was trading at 1,822 USD/ounce, on par with the price at the same time the previous day. According to analysts, after many days of continuous increase, the USD Index has reversed. going down, causing the USD to decrease in value compared to 6 other strong currencies, including: Euro, JPY, GBP, CAD, SEK and CHF. According to the latest figures from the World Gold Council, central banks bought 77 tonnes of gold in August, up 38% from purchases in July. Over the past three months, central banks have purchased 219 tons of gold after record net purchases in the first half of the year. Countries with USD-denominated debt continue to face high financing costs. James Robertson, an analyst at Grant's Interest Rate Observer, said the only way for countries to reduce those costs is to diversify away from the dollar and gold remains the most attractive global monetary asset. TVC:GOLD BUY 1827-1829 ✔️TP1: 1833 ✔️TP2: 1837 ❌SL: 1822
TVC:GOLDLong
by FalCol_TradingMaster