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Gold Price Analysis September 6Fundamental Analysis Gold prices attracted some buyers for the third straight day on Friday and traded near weekly highs heading into the European session. However, the gains lacked bullish sentiment as investors opted to wait for the release of the key US Non-Farm Payrolls (NFP) report before placing any fresh bets. Meanwhile, rising bets for more rate cuts by the Federal Reserve (Fed) in September weighed on the US Dollar (USD) for the third straight day and provided some support to the non-yielding yellow metal. Meanwhile, a mixed batch of US employment data released this week suggested the labour market is losing momentum and raised concerns about the health of the economy. This, coupled with persistent geopolitical tensions, dampened investor appetite for riskier assets and turned out to be another factor that acted as a driver of safe-haven Gold prices. However, it would be wise to wait for some follow-through buying before positioning for an extension of the two-day uptrend ahead of key US macro data risks. Technical Analysis Gold is looking to make an ATH in today’s US session. The re-approach to the 2523 zone in yesterday’s evening session and the liquid pullback to the 2508 zone and back to the top as the European session began have prompted investors to buy to push prices higher in the US session. The key price zone of 2526 on the breakout in today’s European session is definitely a new all-time high for Gold. Gold will at least reach 2526 or 2533 before a sharp decline. Now the US session begins and gold pushes down first, the US's upward force will be greater and it is possible to reach the sell zone of 254x. Resistance: 2526 - 2532 - 2542 - 2555 Support: 2493 - 2485 - 2472 - 2461 - 2454 - 2440 SELL price zone 2530 - 2532 stoploss 2536 BUY price zone 2499 - 2497 stoploss 2492 BUY price zone 2460 - 2462 stoploss 2456
OANDA:XAUUSD
by TVS-Trader
Gold is overhyped ? Nonfarm 9/6/2024Gold's risks this week will be the ADP jobs and unemployment claims report and the nonfarm payrolls report. StoneX analyst Rhona O'Connell said bullion was also under pressure from weak global equities. However, O'Connell believes that the precious metal price trend is still upward and these losses are only corrective. This year, gold has had an impressive performance and is up more than 20%. On August 20, this precious metal reached an all-time high of 2,531.6 USD/ounce. Kinesis Money market analyst Mike Ingram has raised his forecast for the yellow metal's resistance above $2,510 an ounce, and he expects the price to break the $2,543 an ounce mark soon. Talking about gold fluctuations in the near future, Natixis precious metals analyst Bernard Dahdah predicts that gold prices will average about 2,600 USD/ounce by 2025. With stable domestic gold prices and world gold prices listed at Kitco at 2,496.4 USD/ounce (equivalent to nearly 75.2 million VND/tael if converted at VCB exchange rate, excluding taxes and fees) , the difference between domestic gold and world gold is huge. Price is about 5.8 million VND/tael.
OANDA:XAUUSDShort
by FalCol_TradingMaster
Gold possible up correctionXAUUSD continues its downward movement, closing below the 2500 level and confirming a break out of the consolidation zone. With this momentum, the market is likely to head to lower levels. Although the major trend remains bullish, this correction might find support around the 2450 level. If the market retests this area and shows rejection signs, like a bullish long-tailed bar, it could offer a good buying opportunity. A strong rebound from the 2450 support could pave the way for a continuation of the bullish trend toward the all-time highs. The target is the resistance zone at 2505
FOREXCOM:XAUUSDLong
by RTED_Investing
AUDUSD potential Breakout and RetestAUDCAD has broken and closed below its consolidation zone and is currently testing the resistance level around 0.91200. It seems to be pulling back for a retest at this level. The market is showing lower lows and lower closes, signalling bearish dominance. A break-and-retest scenario is expected, where the price might pull back to test the resistance before potentially continuing downward. This is a key level to monitor, as holding here could confirm the continuation of the bearish trend. The target is the support level at 0.90775
Short
by RTED_Investing
Gold Analysis September 5☘️Fundamental Analysis Gold prices edged up in Asian trade on Thursday. A US jobs report showed on Wednesday that employment fell to a three-and-a-half-year low in July, raising expectations that the Federal Reserve will cut interest rates further in September, which in turn acted as a boost for the non-yielding yellow metal. Moreover, concerns about the health of the US economy dampened investor appetite for riskier assets, further supporting the safe-haven precious metal. However, gold prices lacked strong buying interest as traders appeared reluctant to place strong bullish bets, preferring to wait for key details on the US monthly employment report - commonly known as the Non-Farm Payrolls (NFP) report - due on Friday. Meanwhile, the US economic agenda on Thursday - including the ADP report on private sector employment, the weekly jobless claims and the ISM services PMI - will be looked at for short-term opportunities. However, expectations of the imminent start of the Fed's policy easing cycle could continue to support Gold. ☘️Technical Analysis Gold is moving back in the sideways range of 2490-2505. After an old liquidity sweep to 2472. The Asian session's upside momentum is not strong enough to break the technical level of 2508. When the European session pushes up to 2508 without breaking through, we can set up a SELL signal at this area. The sell trend may extend further than there is still a way to move up to ATH. Today, when the US session enters, pay attention to the resistance zone of 2512-2514 for a SELL strategy. And the push to the low zone this week and next week could create momentum for the FOMC to push gold to a new ATH. Resistance: 2505 - 2509 - 2515 - 2524 - 2535 Support: 2491 - 2485 - 2472 - 2461 - 2454 - 2440 SELL price zone 2513 - 2515 stoploss 2518 BUY price zone 2460 - 2462 stoploss 2456 BUY price zone 2480 - 2478 stoploss 2475Gold Analysis September 5
OANDA:XAUUSD
by TVS-Trader
TRXUSDT CorrectionTRXUSDT is currently pulling back after forming a double top at a resistance zone. The price is now testing a previous support level, and there is a chance it could dip below this support, given the liquidity below this level and near the February highs. The market has already seen a pullback of around 12%, with the potential to extend to a 15% pullback. This price action might develop into a trend continuation pattern, possibly forming a triangle as it consolidates. If the market finds sufficient buying pressure at these lower levels, it could set the stage for a future upward move. The target is the resistance zone around 0.1618
Long
by RTED_Investing
Gold price analysis September 4☘️Fundamental Analysis Gold prices bounced from multi-day lows but remained below the $2,500 mark amid renewed buying in the US Dollar (USD) on Wednesday. However, ongoing geopolitical risks and the Federal Reserve’s (Fed) impending rate cut could support the yellow metal in the near term. Later on Wednesday, JOLTS Job Openings and the Fed Beige Book will be released. Investors will be closely watching Friday’s highly anticipated US Non-Farm Payrolls (NFP) for August, which could determine the size and pace of a potential rate cut at the Federal Reserve’s September policy meeting. If the report shows a weaker-than-expected reading, it could fuel speculation of a US recession and a faster rate cut by the Fed. This in turn could boost the precious metal further as lower interest rates reduce the opportunity cost of holding non-yielding Gold. ☘️Technical Analysis At the end of the trading session, gold was booked by investors as it was pushed up from the beginning of the session, causing gold to fall from 2497 to 2487. The 2485 price zone became an important zone when the European session jumped in. The price is approaching this zone for those who can execute the BUY scalp signal. This week's trend will continue to decrease in price until the Nonfarm data is released to shape the current gold trend. A deep pullback to the lows is seen as an opportunity to buy long term when interest rates fall. Today, pay attention to the 2461 and 2472 zones for a BUY strategy. Resistance: 2505 - 2509 - 2515 - 2524 - 2535 Support: 2491 - 2485 - 2472 - 2461 - 2454 - 2440 SELL price zone 2513 - 2515 stoploss 2518 SELL price zone 2505 - 2507 stoploss 2511 BUY price zone 2474 - 2472 stoploss 2469 BUY price zone 2460 - 2462 stoploss 2456
OANDA:XAUUSD
by TVS-Trader
Banks buying gold slows down gold price declineWorld gold prices move sideways amid strong USD index. Recorded at 9:20 a.m. on September 4, the US Dollar Index measuring the greenback's fluctuations against 6 major currencies was at 101,607 points. According to Kitco, in the first sessions of the week, world gold prices fell sharply, causing investors to panic right before a busy week with US economic reports. Central financial institution gold purchases doubled in July. Global valuable banks delivered 37 tonnes to their reputable reserves, a 206% increase. "In total, seven valuable banks delivered extra gold (a tonne or extra) to their reserves in July. Only one valuable financial institution decreased its holdings" 💎 OANDA:XAUUSD Buy 2481 - 2479💎 🔰TP1: 2490 🔰TP2: 2500 🔰TP3: OPEN 🚫SL: 2471 💎 OANDA:XAUUSD Sell 2498 - 2500💎 🔰TP1: 2490 🔰TP2: 2480 🔰TP3: OPEN 🚫SL: 2508
OANDA:XAUUSDShort
by FalCol_TradingMaster
Trading signals GOLD september 3Support: 2485 – 2,471 USD Resistance: 2,513 – 2,531 - 2550 USD SELL XAUUSD PRICE 2551 - 2549⚡️ ↠↠ Stoploss 2555 →Take Profit 1 2544 ↨ →Take Profit 2 2539 SELL XAUUSD PRICE 2512 - 2514⚡️ ↠↠ Stoploss 2517 →Take Profit 1 2505 ↨ →Take Profit 2 2495 BUY XAUUSD PRICE 2484 - 2486⚡️ ↠↠ Stoploss 2479 →Take Profit 1 2489 ↨ →Take Profit 2 2494 BUY XAUUSD PRICE 2470 - 2472⚡️ ↠↠ Stoploss 2467 →Take Profit 1 2475 ↨ →Take Profit 2 2494 ⚡️Psychology, discipline and capital management are the three factors that make victory possible.⚡️
OANDA:XAUUSD
by TVS-Trader
EUR/USD Rebounds in Quiet Markets, But Bearish Outlook PrevailsThe EUR/USD pair experienced a modest recovery on Monday, with the price currently hovering around the 1.1068 mark as I write this article. This upward movement comes after the pair reversed within our designated Demand Area, highlighted by the red rectangle on our charts. However, this recovery is happening against the backdrop of limited market activity, as both the United States and Canada observe Labor Day, leading to a quiet trading session until the next Asian market opening. The US holiday means that the macroeconomic calendar will be relatively barren in the coming hours. However, the calm will be short-lived as the US is set to release several employment-related reports later this week, culminating in the highly anticipated Nonfarm Payrolls (NFP) report on Friday. Despite the slight recovery seen today, our outlook for the EUR/USD remains bearish. The US Dollar Index (DXY) is also regaining strength, signaling potential downward pressure on the Euro. From a technical perspective, the price has recently touched a Supply Area, which has been confirmed as a significant resistance zone. What is particularly telling is the behavior of different market participants: retail traders are increasingly taking long positions on the Euro, while smart money—larger institutional traders—are reducing their long exposure. This divergence between retail and institutional sentiment is often a strong indicator of an impending reversal. Moreover, this shift in sentiment is notable as it marks the highest point in 2024 where retail traders have gone long on the Euro. Such a scenario typically signals a potential short opportunity, as history often shows that retail traders tend to be on the wrong side of the market during such divergences. In summary, while the EUR/USD pair has shown some strength today due to the subdued trading environment brought on by Labor Day, the overall picture remains bearish. The combination of a strengthening DXY, confirmed technical resistance, and a significant divergence between retail and institutional traders suggests that a short position on the Euro may be the more prudent strategy moving forward. Previous Forecast ✅ Please share your thoughts about EUR/USD in the comments section below and HIT LIKE if you appreciate my analysis. Don't forget to FOLLOW ME; you will help us a lot with this small contribution.
Short
by FOREXN1
1
THE KOG REPORTTHE KOG REPORT: In last week’s KOG Report we said we would be looking for the high to confirm which worked well, to then short into the lower support levels which we got nearly to the pip. We then said we would long looking for price to attempt the ATH to finish off the week, this move completed half way. During the week, we said traders should look for an undercut low which was again achieved and gave us another opportunity to long back up. On Thursday we suggested traders protect trades and take a majority as price seemed to struggle at resistance. Fortunately, that was the perfect time as we then witnessed the attempt at rage low again which is where we closed. A fantastic week on not only gold, but the numerous other pairs we trade hitting targets and completing another phenomenal month in Camelot. So, what can we expect from the week ahead? For this week we have to keep in mind we’re still in that range and price is accumulating. That entails these swings up and down as they’re simply gathering orders before a potential breakout. We have a US Holiday tomorrow so volume during that session should be low and on Friday we have NFP, so we can expect a lot of movement Tuesday into Thursday pre-event. We’ve plotted the potential range we feel price may play but that’s based on it remaining below the 2515 region. Ideally, on open we would like to see this attempt the resistance level and fail, if that is confirmed, we feel an opportunity to short into the lower support levels are available with the initial level being 2480-85. It’s these lower levels we want to monitor as the tap and bounces can come from below if reached taking this back up. We have to be mindful this week due to NFP which is likely to cause the whipsaw, and if they do want to attack that ATH again, we feel this is when it come. Please keep an eye out for KOG’s bias of the day together with the red boxes we share. These have proved to help traders in stay the right side of the markets and work extremely well with the target levels we post across all the pairs we trade. We’ll say this report is applicable until mid-week, we’ll then prepare for NFP. KOG’s bias of the week: Bearish below 2515 with target below 2485 Bullish on break of 2515 with target above 2540 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
6
GOLD analysis week 36🌐Fundamental Analysis: Gold prices fell about 1% as the US dollar and US Treasury yields rose sharply after US inflation data matched expectations over the weekend. However, given the Federal Reserve's September rate cut and geopolitical tensions remain a risk, gold still has plenty of potential support on a fundamental level. Gold prices closed slightly lower this week but still held the $2,500/ounce mark. Next week, investors will receive US ISM data and non-farm payrolls reports, which are expected to cause major fluctuations in the gold market. Next week's NFP data will be the main focus, as Fed Chairman Jerome Powell and other members have also focused heavily on the upcoming employment data during the Jackson Hole conference. Meanwhile, tensions in the Middle East have boosted safe-haven demand for gold. Signs of steady buying from central banks in emerging markets also support prices. 📊Technical analysis: Looking at the D candle, selling pressure has started to appear on gold. The buying pressure at the end of the day is insignificant and there are ready to be more sell-offs next week. Returning to the familiar H4 time frame, the breakout area of ​​2512 becomes the immediate resistance zone to push gold prices deeper. The declines may extend to the 2485 area and even the 2470 area next week. The downtrend is the path of least resistance for gold. After rejecting the resistance level of 2525 many times, gold may easily break through this hook once again and move straight to the important resistance zones of 2530-2540-2550. Resistance: 2412 - 2420 - 2430 - 2440 - 2450 Support: 2494 - 2485 - 2470 🕯Trading Signal: BUY GOLD 2485-2483 Stoploss 2480 BUY GOLD 2472-2470 Stoploss 2467 SELL GOLD 2513-2515 Stoploss 2518 SELL GOLD 2530-2532 Stoploss 2535
OANDA:XAUUSD
by TVS-Trader
EURUSD Analysis week 36🌐Fundamental Analysis EUR/USD continued to fall sharply on Friday, extending its decline into a third straight day and dragging Fiber down to 1.1050 to close the trading week. EU inflation figures released on Friday morning failed to impress anyone in particular, and the US Personal Consumption Expenditures (PCE) price index did not deviate too far from forecasts, leading the broader market to bet on a rate cut heading into the Federal Reserve’s next rate call on September 18. With the PCE inflation data out and offering no warning signs, the way has been opened for next week’s Non-Farm Payrolls (NFP) print, one of the last major economic data points that stand in the way of the Fed and markets clamoring for a rate cut. Next week will also open on a low note, with US exchanges expected to remain closed for the Labor Day holiday. Several Purchasing Managers Index (PMI) releases are also scattered throughout the trading week. 📊Technical Analysis EURUSD remains in an uptrend, with a pullback over the weekend that could be a stepping stone for further gains in the coming days. On the D1 timeframe, the EMA 34 is sloping sharply higher than the EMA 89, indicating that the market structure is tilted to the upside with the most recent trading range around the support of 1.100 and the resistance of 1.127. With the pullback after meeting strong resistance as analyzed last week, the pair is still entering a strong growth phase. The upside slide could revisit the two-year high around 1.146 and the deepest, most reliable support level next week is placed by investors around 1.090 to prevent the pair from sliding too sharply. Resistance: 1.128-1.146 Support: 1.100-1.090 🕯Trading Signal SELL EURUSD zone: 1.127-1.129 Stoploss 1.131 BUY EURUSD zone 1.100-1.098 Stoploss 1.096
by TVS-Trader
GBPUSD analysis week 36 🌐Fundamental Analysis The British Pound (GBP) extended its two-day losing streak and hit a fresh intraday low below 1.3150 against the US Dollar (USD) in the North American session on Friday. The GBP/USD pair failed to gain as the US Dollar strengthened following the release of weaker-than-expected US Personal Consumption Expenditures (PCE) Price Index data for July. The US Dollar Index (DXY), which tracks the value of the Greenback against six major currencies, surged above 101.50. The impact of PCE inflation data is traditionally high as it is the Federal Reserve’s preferred inflation measure for making interest rate decisions. This time, the impact of core inflation data is expected to remain limited to market speculation on the Fed’s rate cut path this year. Currently, financial market participants expect that the Fed will almost certainly start cutting interest rates in September. However, signs of rigidity in price pressures from PCE inflation data have reduced bets supporting the Fed to start a strong policy easing cycle. 📊Technical analysis As analyzed last week, GBPUSD has retreated when it reached a strong resistance zone. The retreat may continue next week to attract buyers to push the price up further. In fact, GBPUSD is in a strong uptrend. On the D1 time frame, the EMA 34 is sloping up sharply compared to the EMA 89, indicating that the market structure is leaning towards the upside, the retreat is only pushing the price up in the near future. The nearest trading range is around 1,300-1,327. These are two strong resistance and support zones and also the price range where investors can enter orders. With a perfect retracement it is possible to push the price to the old peak around 1.342 and the strongest retracement is supported at 1.284. Resistance: 1.327-1.342 Support: 1.300-1.284 🕯Trading Signals SELL GBPUSD zone 1.327-1.329 Stoploss 1.331 BUY GBPUSD zone 1.300-1.298 Stoploss 1.296
by TVS-Trader
Amazon - Give me another -10%...NASDAQ:AMZN did not create a sustainable all time high yet and might head lower short term. Click image above to see detailed analysis Short term counter-trend moves are always very welcome because they allow you to enter trading opportunities within a major higher timeframe trend. After Amazon actually broke above the previous all time high but immediately closed back below, we knew that this was a false breakout. If we get a short term move lower, we might get another textbook trading opportunity. Levels to watch: $140 Keep your long term vision, Philip - BasicTrading
NASDAQ:AMZNLong
by basictradingtv
12