GOLD (XAUUSD): Support & Resistance Analysis
Here is my latest structure analysis and important
key levels to focus on and trade on Gold.
Support 1: 2322 - 2328 area
Support 2: 2303 - 2308 area
Support 3: 2266 - 2286 area
Resistance 1: 2361 - 2364 area
Resistance 2: 2426 - 2450 area
Consider these structures for pullback/breakout trading.
❤️Please, support my work with like, thank you!❤️
Goldtrader
Gold ( XAUUSD ) analysis www.tradingview.com
On the 4-hour chart, XAUUSD has developed a head and shoulders pattern, indicative of a classic reversal trend. The price is currently hovering around a pivotal support level, with the moving averages suggesting a potential for further downward movement.
A selling opportunity for XAUUSD may arise if the price breaks below the support at 2330, potentially leading to a further drop towards 2285.
GOLD (XAUUSD): Waiting For The Next Move 🥇
Gold is currently testing a resistance cluster,
based on a solid trend line and a horizontal resistance on a daily.
Bullish breakout of the underlined area will give us a strong bullish confirmation.
A daily candle close above that will confirm a violation.
A bullish continuation will be anticipated to 2400 level then.
❤️Please, support my work with like, thank you!❤️
GOLD (XAUUSD): Very Bullish Setup 🥇
I see a very nice bullish setup on Gold:
After a test of a recently broken daily structure,
the price broke and closed above a resistance line of a bullish flag pattern
on an hourly time frame.
I expect a pullback now.
Goal - 2354
❤️Please, support my work with like, thank you!❤️
GOLD (XAUUSD): Get Ready For Breakout 🥇
Gold had a very bullish end of this week.
The market closed, attempting to violate a significant daily resistance cluster.
Your strong bullish signal next week, will be a bullish breakout of
2361 level and a daily candle close above that.
It will initiate a strong bullish continuation of the market
at least to 2391 level.
❤️Please, support my work with like, thank you!❤️
Gold recovers above $2,300: What's next? Gold managed to recover its losses yesterday (biggest daily slump in almost 2 years) on weak US PMI data. The thought here is that sluggish growth indicators might push the Federal Reserve towards an earlier interest rate cut (although don't hold your breath), potentially increasing the attractiveness of non-yielding assets like gold.
The rate of expansion in US business activity slowed amid signs of weaker demand, according to the latest S&P Global Flash PMI report.
From a technical standpoint, XAU/USD is currently grappling with the 23.6% Fibonacci retracement level from the rally between $1,984 and $2,430, struggling to surpass it convincingly.
Ole Hansen from Saxo Bank notes that gold's vigorous surge since mid-February is undergoing a necessary correction, which should hopefully provide insights into the actual underlying demand (now that geopolitical risk has somewhat cooled).
Market attention now shifts to three key US data releases: US durable goods (Wednesday), US Q1 Flash GDP (Thursday), and US Core PCE on Friday. While all three could impact the market, the latter two are anticipated to carry greater significance.
GOLD (XAUUSD): Important Key Levels For Next Week 🥇
Here is my latest structure analysis and important
key levels to focus on next week on Gold.
Resistance 1: 2416 - 2430 area
Resistance 2: 2497 - 2509 area
Support 1: 2354 - 2360 area
Support 2: 2300 - 2333 area
Support 3: 2265 - 2280 area
Consider these structures for pullback/breakout trading.
❤️Please, support my work with like, thank you!❤️
GOLD (XAUUSD): The Escalation in Middle East 🏆
With the Iranian attack on Israel this night,
Gold may open with a gap up.
Before the market closed, the price already reached
a significant intraday demand zone based on a support line
of an expanding wedge pattern and a horizontal support.
The closest resistance can be 2400.
❤️Please, support my work with like, thank you!❤️
XAUUSD 3 options for today these are my options for today so far gang .. got that engulfing at 2399 with r1 above it to react from to take shorts ... its breaks and we hit all time high again. If we push down then we can take buys from the 4h engulfing 2360 area.
Have a great day whatever you get up to and lets stay frosty in these uncertain and crazy times
tommy
What could stop gold’s bullish momentum? The end of the week brings a host of significant data releases, including the US Consumer Price Index (CPI), the FOMC minutes from the March meeting, and interest rate decisions from both the Bank of Canada and the European Central Bank (ECB).
Import the BlackBull Markets Economic Calendar to iCloud, Google, or Outlook to get alerts direct to your inbox (link below).
A hot CPI print may provide support for the US dollar and potentially limit gold’s climbs, or at least give some pause (or pullback) to allow for an entry point. Yesterday the Bank of America raised its gold outlook, expecting the metal to average $2,500 an ounce by Q4.
An interesting note came from the Former St. Louis Fed President James Bullard (note included in FOMC meeting minutes, but interesting nonetheless) who said that the US Fed could already justify a rate cut on the data it currently has, but because it has time on its side, it probably will probably wait.
Based on the daily chart, overbought conditions could potentially start to exert pressure on XAU/USD. The 20-day Simple Moving Average (SMA) is positioned more than $100 below the current trading price, albeit still well ahead of the 50-, 100-, and 200-day SMAs.
GOLD (XAUUSD): The Next 2 Resistances 🥇
I have identified 2 potentially important horizontal resistances for Gold,
applying harmonic movements analysis on a daily.
Resistance 1 will be 2350 - 2370 area.
Resistance 2 will be 2390 - 2410 area.
Watch carefully these those,
because we may see pullbacks from there.
❤️Please, support my work with like, thank you!❤️
XAUUSD New quarter! can we get the correction now please? Good evening gold gang! its been a while .. ive had nothing to report as price has been so bullish.
We are currently wayyyy out in space. No clue on whats gonna happen .. we just have to wait for price to come back to a probable zone in order to make informed decisions. There may be a gap at open .. lets see if that gaps down or not. If it does .. we can mark and entry for when it fills it.
Other than that .. we got to wait!!
Breaks below the 4h trendline for confirmed sells and a possible long term hold. Buys are 2206 or 2190 .. lower time frame confirmation required.
Have a great week gang!! im active on socials or dm here if you want to as me anything
Catch you in london
tommy
Gold to close above $2200 this week or next? Gold to close above $2200 this week or next?
Examining the daily gold chart, it appears there's a potential bullish flagpole pattern forming, indicating a possible forthcoming breakout. If this pattern unfolds, gold prices could rise. This week, gold attempted to breach $2,200 but faced rejection, dropping to $2,080 before rebounding above $2,190.
However, market sentiment may be turning cautious ahead of significant US economic data releases in the shortened holiday week, including the GDP Growth Rate, Core PCE Price Index, and Personal Spending. Despite this caution, if the GDP Growth Rate falls from 4.9% in the previous quarter to the expected 3.2%, it could reinforce expectations of a June rate cut by the Federal Reserve, as the market anticipates. This could potentially increase demand for gold and boost its price.
If this week's data doesn't serve as a catalyst, attention may shift to next week, with JOLTS Job Openings scheduled for Tuesday and NFP on Friday (US time), potentially providing further market insights.
XAUUSD Bearish going into the new week. Heres why .. good evening gold gang! tis i .. lord tommy back from the weekends debauchery.
Price closed at my algo level exactly breaking the 4hr support! This could mean we are in for a bearish couple of days while price makes its way down to the cheaper areas for big boys to buy in
We have an unmitigated 4h sell zone at the top there if price can make its way up .. i will sell there
for buys, im gonna need price to break the algo and head down.
We need to see some price move first!
lets meet up in london 06.00 to find out
catch you then
T
GOLD (XAUUSD): Your Trading Plan For Next Week Explained 🥇
This week was very slow for Gold.
The market was consolidating after setting a new all-time high.
Here are potential scenarios for next week.
If the price drops and closes below 2144 level on a daily,
it will confirm the strength of the sellers and a correctional movement will be anticipated
at least to 2090 level.
Alternatively, a bullish breakout of a falling trend line on a 4H time frame will be
an important bullish confirmation.
A retest of a current high will be anticipated then.
Patiently wait for a breakout next week,
that will be your trigger.
❤️Please, support my work with like, thank you!❤️