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Gold price continues the long -term trend from 2700Hello market warriors! In today's session, XauUSD is gradually looking for a potential area to buy about 2700 USD. This adjustment is not a coincidence, but because Gold witnessed the leaps of last week, largely due to instability revolving around the race of the US president, escalating tensions in Middle East and Kha Kha's expectations. Fed interest rate decreases. This week, the focus of the market will focus on the US election, decide the interest rate from the Fed and a series of important economic data, from the requirements of unemployment benefits to the psychology of consumers. use. These will be big wave factors for gold prices! Currently, gold is still surrounded by $ 2750 per ounce, continuing to strengthen the long -term increase. I wish you a successful transaction!
OANDA:XAUUSD
by Bentradegold
Watching for market reactionMorning everybody, So, recent sell-off on stock market and rally of the US yields have made pressure as on Gold as on BTC but thankfully it was short term. Still, BTC has dropped to the level that we've discussed last time - 67.5-68K. Why is it so special? First is, it stands around the all-time trend line resistance that recently has been broken up. Second is - the K-support level, which makes it rather strong and a great indicator of market's power. From bullish point of view, we do not want BTC to drop back below it, breaking 65K lows down. At the same time, with elections hysteria environment we suggest to not take any position without confirming patterns. So, our trading plan is to wait for market response to this level. Once we get more or less clear patterns, we could act...
COINBASE:BTCUSD
by Sive-Morten
1
Solusdt adjusted: Selling & bottom catching strategySolusdt on the 4 -hour frame shows a strong adjustment after the previous price increase. The price has broken the trend of increasing trend, and is currently fluctuating under an important resistance area around $ 170. This shows that the increasing motivation has weakened, and the high likelihood of SOL will continue to adjust. Important levels: Short -term resistance: $ 170 - $ 172, is the area where the price may have a selling pressure if recovered. Nearly support: $ 165.07 - where prices can be found short -term support, if breaking, the possibility of price will continue to decrease. Important support: $ 154.16 - strong support area, maybe the waiting point if the price drops deep. Short trading strategy: Sell ​​strategy (Sell): Consider selling commands at $ 170 - $ 172 resistance if the price recovered, with the goal of closing profit at $ 165.07 and $ 154.16. Buying strategy (BUY): If the price drops in a deep support level $ 154.16, the purchase order may be considered when signs of turning on this area.
Short
by Trader-Saylor
1
GOLD has corrected down, facing a BIG event weekOANDA:XAUUSD rose quickly after weak non-farm payrolls data, then fell sharply from highs above $2,760/ounce and finally closed lower, closing at around $2,736/ounce. Gold prices quickly rose to 2,760 USD/ounce after the release of US non-farm payroll data, showing that only 12,000 new non-farm payrolls were added in October, much lower than the 113,000 expected. expected and much lower than in September. However, gold prices have since dropped and lost all of their price gains during Friday's trading day. Hit by hurricanes and strikes by aerospace factory workers, U.S. nonfarm payrolls increased by just 12,000 in October, the smallest increase since December 2020. Other data from the nonfarm report showed the unemployment rate remained at 4.1% in October, in line with expectations, and the increase in average hourly wages last month increased to 4.0% compared to compared to the same period last year, in line with expectations and higher than the 3.9% revision in September. Hourly earnings increased 0.4% month over month, above the forecast 0.3% and the revised 0.3%. The average number of working hours also increased to 34.3 hours, higher than expectations of 34.2 hours, but still equal to the previously adjusted increase. As noted by readers in the short comments, it is very possible that gold's downward adjustment period is not over yet as Friday's economic data is considered very positive for gold. If it is "theoretically" correct, gold should increase sharply as soon as the data is released, but there are possibilities that the market has digested all the previous data or the data will react after more fundamental impacts. another version. Therefore, I needed to warn about this phenomenon with short comments! Tensions in the Middle East have helped limit gold's decline The BBC reported that Hezbollah launched a rocket attack in northern Israel, killing seven people. It was the worst attack in months and dashed hopes of a ceasefire in the war in the Middle East. There are too many risks ahead of the US election, as well as rumors about Iran retaliating against Israel. Polls show a tight race between Donald Trump and Kamala Harris in next Tuesday's US presidential election. Gold is a traditional hedge against economic and political instability and tends to thrive in low interest rate environments. It must be noted once again that, although gold and the Dollar have been increasing together recently, it does not mean that this correlation has been lost. Gold and the US Dollar have a negative correlation and if Trump is elected, the US Dollar will continue to get stronger because of Trump's policy trends (This has been sent to readers in many publications), the US Dollar will be stronger. This means that gold will be subject to correlation pressure. This week will be a trading week with many "huge" events with the Presidential election and the US Congress along with the monetary policy decision of the US Federal Reserve (Fed). It is expected to have a STRONG and DEEP impact on the gold market trend. Economic data to watch out for this week Monday: Reserve Bank of Australia monetary policy decision Tuesday: ISM Services PMI, US Presidential and Congressional elections Thursday: Bank of England monetary policy decision, US weekly jobless claims, Federal Reserve monetary policy decision Friday: University of Michigan preliminary consumer sentiment Analysis of technical prospects for OANDA:XAUUSD On the daily chart, gold has a 2-day bearish correction with the short-term uptrend temporarily lost as price activity falls below the price channel. However, this is not a negative thing because the nearest support at 2,725 USD still keeps gold above it. The relative strength index is pointing down from the oversold area but has not yet reached the 50 level, the 50 level is considered the nearest support point in terms of momentum. Although gold has adjusted down, in the overall picture it still has an uptrend with long-term and medium-term price channels and important support at the EMA21 level. As long as gold remains above the EMA21 and within the price channel, it still has a bullish outlook and the notable points are listed below. Support: 2,725 – 2,710 – 2,700USD Resistance: 2,745 – 2,768 – 2,786USD SELL XAUUSD PRICE 2759 - 2757⚡️ ↠↠ Stoploss 2763 →Take Profit 1 2752 ↨ →Take Profit 2 2747 BUY XAUUSD PRICE 2708 - 2710⚡️ ↠↠ Stoploss 2704 →Take Profit 1 2715 ↨ →Take Profit 2 2720
OANDA:XAUUSD
by Xayah_trading
GOLD MARKET ANALYSIS AND COMMENTARY - [Nov 04 - Nov 08]This week, after rising to 2,790 USD/oz, OANDA:XAUUSD then continuously dropped sharply to 2,733 USD/oz and closed the week at 2,736 USD/oz. According to the US Bureau of Labor Statistics, the US's October non-farm payrolls (NFP) report showed that the country only created 12,000 jobs, significantly lower than the forecast of 100,000 jobs due to the impact of the coronavirus pandemic. recent storms. Although the US economy created fewer jobs than expected, the country's unemployment rate in October remained unchanged at 4.1%. Meanwhile, wage inflation increased. Specifically, average hourly earnings increased 0.4% last month, higher than the forecast of 0.3%. In particular, the US's basic Personal Consumption Expenditures (PCE) Index for October - the FED's favorite inflation measure - remained at a high level of 2.7%, unchanged from the level of July and October. All of the above economic data show that the FED is in a difficult position when production activities decline sharply, the labor market weakens, but inflation remains continuously high. However, many forecasts are likely that the FED will still cut interest rates by another 0.25% next week, but will cautiously announce the direction of interest rate cuts in the next meetings. In addition to the FED meeting, next week there will also be the US Presidential election on November 5. According to forecasts of many experts, it is likely that Donald Trump will be re-elected as US President. If Mr. Trump becomes US President in the next term, he will impose strong tariffs on imported goods as promised during the election campaign. This will push inflation up, forcing the FED to delay interest rate cuts, and may even have to raise interest rates again. Thus, next week's gold price is at risk of being double-impacted by the FED meeting and the US presidential election. 📌Technically, in the H4 chart, gold price still shows a clear uptrend when the price trades above the EMA89 moving average. Next week, if gold prices still trade above the 2720 threshold, we can expect gold prices to continue to maintain an upward trend. In case the price will return to a downward adjustment cycle if the 2710 support zone is broken, correspondingly in the H1 chart, the gold price forms a head and shoulders model. If this model is correct, the gold price will find its way back around mark 2650. Notable technical levels are listed below. Support: 2.700 – 2.710 – 2.720USD Resistance: 2.786 – 2.768 – 2.745USD SELL XAUUSD PRICE 2776 - 2774⚡️ ↠↠ Stoploss 2780 BUY XAUUSD PRICE 2649 - 2651⚡️ ↠↠ Stoploss 2645
OANDA:XAUUSD
by Xayah_trading
2
SPX500USD Will Go Down! Sell! Please, check our technical outlook for SPX500USD. Time Frame: 12h Current Trend: Bearish Sentiment: Overbought (based on 7-period RSI) Forecast: Bearish The market is on a crucial zone of supply 5,736.0. The above-mentioned technicals clearly indicate the dominance of sellers on the market. I recommend shorting the instrument, aiming at 5,643.6 level. P.S Overbought describes a period of time where there has been a significant and consistent upward move in price over a period of time without much pullback. Like and subscribe and comment my ideas if you enjoy them!
OANDA:SPX500USDShort
by SignalProvider
1
EURUSD Will Move Higher! Long! Here is our detailed technical review for EURUSD. Time Frame: 1D Current Trend: Bullish Sentiment: Oversold (based on 7-period RSI) Forecast: Bullish The price is testing a key support 1.083. Current market trend & oversold RSI makes me think that buyers will push the price. I will anticipate a bullish movement at least to 1.099 level. P.S Please, note that an oversold/overbought condition can last for a long time, and therefore being oversold/overbought doesn't mean a price rally will come soon, or at all. Like and subscribe and comment my ideas if you enjoy them!
Long
by SignalProvider
1