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Gold Trend 05/10 - 08/10Gold renewed the 3-weeks high yesterday. Carried the buying momentum from the day before, a new round of buying was triggered after the price cleared the resistance at 1700 early in the Asian session. The bullish trend continued until it touched the day-high near 1729 late in the US session. The day ended at 1725, up by USD 25. After all the interventions and the news from the BOJ & the BOE, gold is trading above the critical support of 1680(1) again. The S-T trendline(2) can be used as a resistance reference for the current bullish trend. While the market is now shifting its focus to the US employment figures this Friday unless the price can clear the resistance at 1730, expect the price to remain in 1700-30 in the next 48 hours. Since gold escaped the downtrend channel (4) and broke out from the 20 days MA, a bullish trend has begun on the daily chart. Unless the price can clear the 50-day MA and trigger a new round of buying, 1700-30 should be the range for today. S-T Resistances: 1730 1725 1720 Market price: 1718 S-T Resistnces: 1710 1705 1700 If you like our work, kindly give our team a thumbs up. Feel free to leave a comment; let us know what you think! P. To
TVC:GOLD
by 1uptick
Gold analysis: Testing key resistancesGold is back above $1,700, which is where it was in the middle of September, up 5% on the week. A drop in Treasury yields and a weaker dollar have aided gold's rise as the market speculates on the end of Fed rate hikes. From their 4% peak in September, US 10-year Treasury yields ( US10Y ) have decreased by almost 40 basis points in the last few session, and real yields ( DFII10 ) also dropped. Simultaneously, the DXY index decreased from 114.1 on September 27 to 110.6. Overall, gold confirmed its inverse relationship with both the USD and real yields. What does gold's chart analysis show? Gold prices are currently testing a multi-resistance zone between $1,710 and $1,720, defined by the bearish trendline from March's 2022 highs, the 50-day moving average, and the 23.6% Fibonacci retracement levels of the 2022 high-low range. Previously, gold prices encountered resistance at the 2022 bearish trendline and retreated in mid-August. The MACD is forming a bullish crossover, and the RSI is moving above 50 for the first time since mid-August, according to the oscillator analysis, which supports a short-term upward trend. If this multi-resistance region is broken, it could signal an extension of the bullish wave towards $1,788 (38.2% Fibonacci) and $1,800-1.810 (August highs) as potential short-term targets. If prices retreated from the resistance, $1,680 serves as the first support for placing stop. Idea written by Piero Cingari, forex and commodity analyst at Capital.com
TVC:GOLD
by Capitalcom
Gold breaks above 6 week trendlineCurrent price is above the six week valid downward slopping trendline (bullish); current price is above its very short term 13 day simple moving average (bullish); current price is above its 25 day minor intermediate term simple moving average (bullish); 13 day rate of change is above its zero line (bullish); 4 day rate of change is above its zero line (bullish); very short term AROON UP 5 day at 100% (bullish). Conclusion: LONG positions can be technically supported for short term price target at $1,735 and intermediate term target at $1,860 in extension with stop at $1,615.
SKILLING:XAUUSDLong
by JKnobel
XAU/USD what to expect?!Despite dollar weakness, XAU/USD lacks bullish conviction on the prospect of aggressive monetary policy tightening by global central banks, including the Federal Reserve. Indeed, the US central bank will say last week that it will raise interest rates at a faster pace at its upcoming meetings to rein in rising inflation. This could continue to act as a tailwind for US bond yields and the dollar. It's worth recalling that the rate-sensitive two-year US government bond yield rose to more than a 15-year high on Monday and the benchmark 10-year Treasury yield to the highest level. since April 2010. This supports the prospect of some buying on dollar declines. Aside from this, the risk boost could help keep a cap on any significant upside for non-yielding gold. Even from a technical point of view, Friday's break below the support of a one-week trading range around the $1,654 area favors the bears. This, in turn, suggests that any further move higher could still be seen as a selling opportunity. The data could be of little use to give a new impetus. However, XAU/USD appears to have snapped a two-day losing streak for now and remains at the mercy of dollar price dynamics. Aside from this, US bond yields and general market risk sentiment could allow traders to take advantage of short-term opportunities around gold. If the breakout of $1,608 is not confirmed, we will return to $1,700. For now, everything points to a rise in the dollar due aggressive rises in bank interest rates.
COMEX:GC1!
by Deal2TP
GOLD | OCTOBER FORECASTThe precious metal has a bad history of performing in Oct. For the last ten years; (2012 - 2021) Bulls came out as the winner: 04 Bears came out as the winner: 06 This Oct'22 will remain bearish so sell on strength should be adopted. As far as chart patterns are concerned, Gold has formed a double top near 2070 and just recently broke the all-important neckline support of 1680. The long-term target will come out to be 1300. Trade your levels accordingly.
TVC:GOLD
by JustTradeSignals
7
Gold : Intraweek Technical AnalysisIn previous week we were at the same point in gold where we are in SP500 now, there was not any support below 1660 and we were looking for a strong support below 1660. Now we are looking at a clear morning star formation on gold in weekly time frame. Which indicates an upside move towards 1700 which is the first resistance ahead.On daily time frame we are looking at three consecutive bullish candles with a morning star formation at the bottom. Which indicate the momentum can continue in coming week. In coming week we are looking at resistance found at 1675 with support at 1616. As the overall trend is reversing on higher time frames so we will be looking for long positions only . the adjacent support is at 1660 and 1645 from where we can expect long positions with intraweek target of 1675 and 1700 if the 1675 level is broken. If you like this or if you think the opposite of this or if there is any other opinion, mention it in the comments. I am open to all kind of suggestions and critics.
OANDA:XAUUSDLong
by JBShark
Gold Analysis and Trade Idea for 30-09-2022Plan A Sell stop: 1658.00 SL: 1670 TP1: 1652 TP2: 1646 TP3: 1640 Plan B Wait for candle chart to give indication of going up over 1660. 1660 is a defining point. Long Gold: Wait for next call SL: 0.00 TP1: 0.00 TP2: 0.00 TP3: 0.00 Bearish - Current price is 1660, weekly high pressure - Mostly news are coming bad for gold - Gold is bearish, according to the daily chart. - Monthly candle is overall bearish and can slip further down. Bullish - As Per 4H chart Gold can move further up - Gold is above 200 SMA - 1670 Strong resistance level
OANDA:XAUUSDShort
by xeshaan
Gold short trade updateIn this video, I'll go over just a quick recap of a trade I took earlier, you can find it in my trade ideas, I do go over my reason for taking the trade. DISCL⚠️IMER: I am not a financial adviser nor a CPA. These videos are for educational and entertainment purposes only. Investing of any kind involves risk. While it is possible to minimize risk, your investments are solely your responsibility. It is imperative that you conduct your own research. I am merely sharing my opinion with no guarantee of gains or losses on investments.
FOREXCOM:XAUUSDShort
by ikonicinvst
Gold Trend 29/09Gold rebounded from the new 2-year low. The price has been consolidating during the Asian and European sessions after the market opened at 1628 yesterday. Once the news from BOE hit the market, the surge began. At the US session opening, buying came into the market and cleared the resistance at the trendline(1). The price jumped to the day-high at 1662, with the day ending at 1659, up by USD 31. The S-T bearish trend has ended as the price trades again above the critical 1650 support. Before it clears the current resistnace at 1660, the price is now trapped in the tight range of 1650-60(1). If the market picks up the bullish momentum later in the European and US sessions, the upside target can again be set at the upper limit of the 1660-90 range. The gain yesterday formed a clear reversal signal. The following key resistance is now sitting at 1665(4); once it's clear, the upside target can be set at the upper limit of the downtrend channel(5) or the 20-day MA (6). S-T Resistances: 1676 1665 1660 Market price: 1653 S-T Supports: 1650 1640 1630-28 If you like our work, kindly give our team a thumbs up. Feel free to leave a comment; let us know what you think! P. To
TVC:GOLD
by 1uptick