GOLD CPI Prediction ( Positive/neutral effects of CPI )As we are on SELL from couple of weeks & the GOLD has hit its support area. Looking ahead to further bearish pressure seems not coming so our remarks on CPI is neutral & no high move out of trend GOLD will have.
Technically the GOLD is at its support & pull back to resistance is going to happen, we can expect fall from the resistance.
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Gold fell slightly today and is now around 1916, as Fed officials' speeches weighed on Fed rate cut expectations, and the dollar index rose, suppressing gold prices, but the continued weakening of U.S. Treasury yields also provided support to the gold market, and there was still some wait-and-see sentiment ahead of the release of the US CPI data for July.
Overall, the short-term focus on 1910 and 1902 support, if it cannot be broken, gold may rebound and rise, it should be noted that when the market volatility is relatively large, choose the right position to reduce trading risks
Gold personal trading strategy
xauusd:@buy1902-1907 tp1920-1925
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Gold short-term is still shortwww.tradingview.com
Gold, the bears made another effort yesterday and broke through the previous support line 20. This action also fully demonstrated the short-term short-term downward demand. The daily line continued to close at the negative line, and the moving average system was suppressed. This is a relatively obvious short-selling signal. Then in the short term, we still need to maintain a short-term thinking to operate, and the first target below is maintained around 1905-1900. Once it reaches this range, there is likely to be a wave of small corrections. But the strength should not be strong, and the current pressure on gold is to maintain the top-to-bottom conversion position. At the same time, yesterday's anti-drawing high around 1927 can also be used as a key reference position for the day. The range of retracement should not be very large, because if the range is too large, it is likely to lose the motivation to continue to fall. In the short term, we still wait for the shorts to retrace and continue to short sell:1922-1924 TP:1910-1905
GOLD:Trading strategy
Gold is still running under the bearish trend.
Gold broke its low yesterday, but it will not continue to fall easily today.
Because gold is waiting for news from the United States tomorrow, gold should fluctuate in the range today.
Gold trading advice today:
Gold:buy1918-1922 TP:1928-1932
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XAUUSD fall 192X?
As I said yesterday, despite the slowdown in US inflation, the economic performance is still strong and the DXY continues to rise. In this case, the trend of gold will continue to decline. It
will continue to hover in the 1939-1935 range. The latest week is expected to reach 1920.
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GOLD (XAUUSD): CPI Data Ahead! Your Plan🥇
Traders, do not forget that we are expecting the CPI data tomorrow.
Depending on the figures, I see 2 potential scenarios on Gold.
Bullish Scenario
1942 - 1946 is a key horizontal resistance.
If the market breaks and closes above that, I will expect a bullish continuation
to a major falling trend line.
Bearish Scenario
1924 - 1934 is a key horizontal support that the price is approaching now.
Its bearish breakout and a daily candle close below will push the prices lower.
Next goal will be 1910.
Wait for a breakout and the follow the market.
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7 Dimension Analysis For GOLD /XAU 😇 7 Dimension Analysis
Time Frame: Daily
1️⃣ Swing Structure: Bullish
🟢 Structure Behavior: A bullish Choch was completed on July 18th.
🟢 Swing Move: After Choch The corrective phase is nearing its target zone.
🟢 Inducement: Waiting for a reversal inducement to confirm the low and enter an impulsive move.
🟢 Pullback: Following a substantial corrective swing, the first impulsive pullback has occurred, showcasing notable strength based on historical data. Extreme Order Block has been mitigated, providing a favorable demand signal.
Time Frame Confluence: Daily and Weekly
🟢 Internal Structure: A bullish Choch has been established, and the corrective move has been completed.
🟢 Trendline Breakout: The initial signal for entry or exit is a trendline breakout. Currently awaiting a breakout above trendline resistance and CIP (Change in Polarity).
🟢 Chart Patterns:
A reversal pattern of a Head and Shoulders formation is evident.
An upside breakout from the Falling Wedge pattern will confirm the setup.
🟢 Candle Patterns:
Relevance is observed, confirming the demand zone based on various studies.
Doji: Gravestone
Momentum: A strict engulfing pattern; there seems to be FOMO selling at this point.
Inside Bar: Today's candle is inside the previous momentum
candle and forming gravestone candle.
Climax players appear to be entering the market, potentially indicating FOMO selling at the support trendline.
3️⃣ Volume:
Significant volumes are evident throughout the entire move, suggesting a significant event. Despite substantial volume, price movement remains subdued. This volume divergence could imply an impending sharp move upon breaking above the resistance trendline. Volume during the entire swing cycle is impressive.
4️⃣ Momentum RSI:
🟢 Zone: Currently in a sideways zone.
🟢 Range Shift: Shifting from Bearish to Sideways, finding support at the 40 level.
5️⃣ Volatility Bollinger Bands:
🟢 A Headfake-type formation is emerging at the swing high, although it is yet to be confirmed.
🟢 The last leg is expected to start, with a high likelihood of initiating a reversal.
6️⃣ Strength ADX:
According to ADX, the market is mostly sideways, with bears holding a slight advantage over bulls.
7️⃣ Sentiment ROC:
The Rate of Change indicates that Gold is stronger than USD, providing clarity in sentiment.
✔️ Entry Time Frame: H1
✅ Entry TF Structure: Bearish, yet the move is nearing completion, potentially prompting a reversal.
☑️ Current Move: Impulsive, waiting for confirmation through internal bullish choch or trendline breakout.
☑️ Candles Behavior:
Observing Record Session Count, Longwicks, Doji, Inside Bars, and Momentum patterns, all suggesting possible reversals.
☑️ FIB Trigger Event: Already occurred, indicating a swing liquidity sweep.
☑️ Trendline Breakout: Awaiting confirmation.
☑️ Final Comments: Plan to buy upon trendline breakout.
💡 Decision: Buy
🚀 Entry: Approximately 1934
✋ Initial Stop Loss: Placed at 1911, to be trailed to 1920 once price surpasses 1938. Additional position to be added in gold.
🎯 Take Profit: Initial target at 1999, considering secondary exits based on changes in internal structure or trendline breakout, including potential FOMO action.
😊 Risk to Reward Ratio: 1:5
🕛 Expected Duration: 20 Days
Summary:
The comprehensive analysis indicates a bullish swing structure with potential impending reversals. Various chart patterns, candlestick formations, volume dynamics, and momentum factors are considered for this analysis. The planned entry strategy involves awaiting a trendline breakout. The expected trade duration is 20 days, with a risk-to-reward ratio of 1:5.
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GOLD:Trading strategy
Today, as I analyzed, it is on a downward trend, and it has now broken the support point of 1928.
Pay attention to the 1920 support point. The previous 1928-1932 support point has now become resistance, so it is now a short trend, but it will not fall directly, waiting for the choice of gold.
But I don't think gold will fall directly without new stimulus. At present, there is obvious support at the bottom, so you can buy it.
Gold trading advice today:
Gold:buy1918-1922 TP:1928-1932
If you want to make money, join me, keep up with my strategies, and I will share my ideas every day.
Gold Price At A Critical Support Level – After Steady DeclineGold Price – Technical Outlook
Daily Chart
After experiencing careful declines since mid-July, gold price is currently positioned directly on the ascending trendline originating from February, as depicted in the chart below. If this trendline is breached, it could pave the way for a more pronounced bearish technical outlook. This scenario would potentially reveal the 38.2% Fibonacci retracement level at 1903, which notably coincides with the lows observed in June.
4-Hour Chart
The 4-hour chart provided below offers a clearer view of the recent short-term downtrend. A descending trendline is serving as a consistent support, facilitating a gradual decline in price.
Notably, there is a positive divergence in the Relative Strength Index (RSI), which suggests that the downward momentum is diminishing. This observation coincides with XAU/USD testing the 61.8% Fibonacci retracement level within this specific timeframe. However, for a potential return to a short-term bullish technical outlook, it would be essential to surpass the 1932 resistance level. Alternatively, if bearish momentum continues downward, the next area of support to watch out for would be 1898 and 1867
GOLD: DXY and CPI data!The Dollar Index (DXY) and US Yields helped keep Gold on the backfoot yesterday with Dollar strength continuing this morning. The US Dollar appears to be benefitting from a risk-off tone this morning following lackluster data from China as well as Moody’s downgrading a host of small to medium sized US Banks.
Gold Drifts Lower on China Data and Inflation ConcernsI wanted to bring to your attention the recent developments in the gold market, particularly the downward trend it has experienced due to China's economic data and growing concerns surrounding inflation. While the situation demands caution, it also presents opportunities for those seeking long-term returns.
Over the past few weeks, gold prices have been influenced by China's economic data, which has shown signs of a slowdown. The uncertainty surrounding China's economic growth has led to a decline in demand for gold as a safe-haven asset. Additionally, inflation concerns have been mounting globally, causing investors to reassess their portfolios and seek alternative investment options.
Although gold has faced some headwinds lately, it is vital to consider its historical performance and its potential as a long-term investment. Gold has traditionally served as a hedge against inflation and a store of value during economic uncertainty. As the global economy gradually recovers from the pandemic-induced slowdown, the potential for rising inflation cannot be ignored.
In light of these factors, I encourage you to consider the long-term potential of gold as an investment. While short-term fluctuations may cause some uncertainty, gold has demonstrated its resilience and ability to preserve wealth over time. As an experienced trader, you understand the importance of diversification and the need to explore opportunities beyond conventional financial instruments.
I invite you to explore the possibilities of including gold in your investment portfolio. By diversifying your holdings and allocating a portion to gold, you can benefit from its long-term return potential and ability to hedge against inflation. It is crucial, however, to conduct thorough research and seek advice from trusted financial professionals before making any investment decisions.
Please feel free to comment if you have any questions or require further information. I am here to assist you in navigating the complexities of the gold market and provide insights that can help you make informed investment choices.
Thank you for your time, and I look forward to discussing the potential of gold as a long-term investment option with you.
now the area is 1927 , it will hold or not?#GOLD.. now market is below his today major area 1927.00
keep close that level because its key level now.
if market hold it area in hour chart then again a drop expected towards his next support 1916 otherwise not.
downside and upside areas are mentioned.
trade wisely,
good luck
GOLD XAU/USD IS GOING TO START A BULLISH CYCLEHi traders!
We have a bullish bat pattern in XAU/USD.
To take this position consider the following:
1) First, the price has to breakout the dynamic channel specified at the graph
2) Second, the structural resistance level has to be broken.
When the two levels (bearish resistance channel and resistence level) have been broken, you could enter the position.
Good trades :)
NZDUSD 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.