GOLD MARKET UPDATEHey Everyone,
This is the weekly chart we have been tracking for over 1 month now and also shared on Sunday.
Last update we stated that EMA5 failed to lock above, which followed with the rejection last week but still maintaining support above the channel top.
We also stated that we will be keeping in mind the channel top for long range corrections, which is likely to provide support like we stated before.
- This played out perfectly with the correction that we are seeing now testing the channel top inline with the weekly chart retracement range. We are now expecting a reaction here .
If the channel top continues to provide support then we will track the movement up, confirmed with ema5 cross and lock or candle body close.
However, if we continue to see tests on the channel top and then get a break inside the channel, then we will track the movement down, inline with our plans to buy dips, using our smaller time-frames, keeping in mind the long range gap for the future.
Buying dips allows us to safely manage any swings, instead of chasing the bull from the top.
OUR 1H AND 4 CHART UPDATE
Bothe of these charts have tested the swing range, which gave the 40 pip bounces, just like we always state but didn't get the full swing yet. (This is the reason why we always state 40 pip bounces on our weighted levels, as it always delivers, even when it breaks through.)
We are now tracking the 4H chart, where price is playing above the support structure. As long as price maintains above the 4h chart support structure, we should see a correction back up to test the upper Goldturns.
Thank you all for your likes, comments and follows, we really appreciate it!
Mr Gold
GoldViewFX
Xauusd(w)
GOLD → The bearish rally is intensifying. Next, 2500-2400?FX:XAUUSD accelerates its fall and updates the low, testing the zone below 2600. Panic? Profit-taking? Are buyers turning around? CPI and PPI ahead, is there still hope?
Chinese authorities have played a negative role this time with their weak support for markets (traders are wary of potential trade tariffs that Trump may impose), which is generally reflected in the gold price in part.
Theoretically, any attempts to rise in gold may be limited, due to the rise of the dollar, which is feeling support from the market amid the excitement of Trump and fading expectations of future Fed rate cuts.
Ahead is the consumer price index, which could have an impact on the Fed's future rate path and the US dollar.
Technically, gold is trying to break out of a key range breaking support. If a false break of 2604 is formed, a small correction to resistance may form.
Resistance levels: 2626, 2637
Support levels: 2604, 2569, 2546
If the bears keep the price below 2605-2600, the decline may intensify, but since the price is testing strong support, a false breakdown and a correction may be formed as a primary reaction, for example to 2626-2637 (0.5 fibo) before a further decline.
Rate, share your opinion and questions, let's discuss what's going on with ★
FX:XAUUSD ;)
Regards R. Linda!
EUR/USD : First Short, then LONG! (READ THE CAPTION)Analyzing the #EURUSD chart on the daily timeframe, we can see that the price is currently trading around the 1.06 level. Since the previous analysis, it has dropped over 500 pips. I anticipate that the price will soon react positively to the 1.052 to 1.058 zone, potentially leading to a recovery of 40 to 300 pips.Keep an eye on these marked levels!
Please support me with your likes and comments to motivate me to share more analysis with you and share your opinion about the possible trend of this chart with me !
Best Regards , Arman Shaban
GBP/USD : First Short, then LONG! (READ THE CAPTION)Analyzing the GBP/USD chart on the daily timeframe, we can observe that the price is experiencing a significant decline. I anticipate that this heavy drop will likely pause, at least temporarily, upon reaching the demand zone between 1.267 and 1.2735. This is a key area of interest, and I expect a potential return of 50 to 200 pips from this level. This analysis will be updated as necessary.
Please support me with your likes and comments to motivate me to share more analysis with you and share your opinion about the possible trend of this chart with me !
Best Regards , Arman Shaban
HelenP. I Gold will reach trend line and then start to declineHi folks today I'm prepared for you Gold analytics. Some time ago price declined below a support level, thereby breaking it, and started to trades inside the support zone. Later prices declined from this area lower, but soon turned around and backed up to the 2650 level, making a gap and breaking this level. Next, the price made a retest and continued to move up to the resistance level, which coincided with the resistance zone. After Gold reached this level, the price some time traded between this level, and last time it broke the 2735 resistance level, made a second gap, and continued to move up. Some time later price reached the trend line and then started to decline inside the pennant. In this pattern, the price first fell to the 2735 level, and then broke it, after which made impulse down to the support level. A not long time ago price rebounded from this level and now the XAU rise. So, I think that XAUUSD will reach the trend line and then start to decline to the support level, thereby exiting from the pennant. For this case, I set my goal at 2650 level. If you like my analytics you may support me with your like/comment ❤️
gold 5 waves complete now abc correction in progress🔸Hello guys, today let's review 6hour price chart for gold. The 5 wave
bullish impulse is complete now we are entering ABC correction.
🔸Wave1 was 2335/2472, Wave2 2472/2372, Wave3 2371/2653,
Wave4 2653/2605, Wave5 2605/2770, now ABC correction, currently
A in progress 2770/2525.
🔸Recommended strategy for gold traders: higher risk bounce play
once A completes and transitions into B bounce, BUY/HOLD 2525
exit at 2678. Lower risk sell side setup: B completes near 2678
short sell into bounce exit at 2383 once C completes into liquidity
order block zone. good luck traders!
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XAUUSD: 1700+ Pips Sell, Gold is going to melt hard! OANDA:XAUUSD dropped after touching daily order block at $2710, price dropped to $2617 almost achieving 930+ pips. Expecting a minor correction of 300-400 pips taking price to 2650 area where we can enter another sell enter. A possible target of 1700+ pips target. Remember this is swing sell entry. Good luck.
GOLD ROUTE MAP UPDATEHey Everyone,
What a day in the markets today with another big drop following on from last weeks election move.
We observed today and watched our bearish side of the setups play out with 2682 being hit on market open followed with ema5 cross and lock opening 2657,which was also hit and then continued into 2638 and now the swing range. Both of these two levels were confirmed with candle body close confirmation, as ema5 was lagging due to momentum.
We are now seeing price in the swing range and looking for a reaction here. Failure to hold support here and we will switch to our 4h chart to track the extended range.
We will now patiently wait for the momentum to exhaust, so we can continue to stick with our long term trend and buy dips. We were looking forward to this correction for a while now, to enable us to get back in the wave.
We will keep the above in mind when taking buys from dips. Our updated levels and weighted levels will allow us to track the movement down and then catch bounces up.
We will continue to buy dips using our support levels taking 30 to 40 pips. As stated before each of our level structures give 20 to 40 pip bounces, which is enough for a nice entry and exit. If you back test the levels we shared every week for the past 24 months, you can see how effectively they were used to trade with or against short/mid term swings and trends.
BULLISH TARGET
2704
EMA5 CROSS AND LOCK ABOVE 2704 WILL OPEN THE FOLLOWING BULLISH TARGET
2725
EMA5 CROSS AND LOCK ABOVE 2725 WILL OPEN THE FOLLOWING BULLISH TARGET
2753
BEARISH TARGETS
2682 - DONE
EMA5 CROSS AND LOCK BELOW 2682 WILL OPEN THE FOLLOWING BEARISH TARGET
2657 - DONE
EMA5 CROSS AND LOCK BELOW 2657 WILL OPEN THE FOLLOWING BEARISH TARGET
2638 - DONE
EMA5 CROSS AND LOCK BELOW 2638 WILL OPEN THE SWING RANGE RANGE
SWING RANGE
2621 (DONE) - 2608
As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Thank you all for your likes, comments and follows, we really appreciate it!
Mr Gold
GoldViewFX
XAU/USD : More Fall Ahead ? (READ THE CAPTION)We can observe that after reaching $2699 again, gold faced selling pressure and has corrected down to $2659 so far. Considering that both the New York and Canadian markets are closed today, we are likely to see the next significant move tomorrow.
Considering the current price trajectory, we need to see how gold reacts if it declines further to the $2649 level. If this level does not hold as support, there is a high likelihood that gold will first hit the $2643 target and then continue dropping to $2630 and $2616.
THE MAIN IDEA :
Please support me with your likes and comments to motivate me to share more analysis with you and share your opinion about the possible trend of this chart with me !
Best Regards , Arman Shaban
GOLD - Price can reach resistance area and continue to fallHi guys, this is my overview for XAUUSD, feel free to check it and write your feedback in comments👊
Recently price moved up inside rising channel, where it broke $2725 level and later made a gap.
After this, price rose to resistance line, turned around, and bounced down to resistance area, exiting from channel.
Then price started to trades in pennants, where it traded near resistance area and then reached resistance line of this pattern.
Gold bounced from this line and made downward impulse to $2660 level and then bounced up to $2710 points.
Later price started to decline and in a short time declined to support line of pennant and recently broke it with $2660 level.
In my mind, Gold can reach resistance area and then continue to decline to $2600
If this post is useful to you, you can support me with like/boost and advice in comments❤️
Hellena | GOLD (4H): Short to support area 2603 (after wave 5).Dear colleagues, I believe that wave “5” is not completed yet, but it can end at any moment, so I consider 2 variants of events, but in both the target is the support area 2603.
1) The riskier one is to open a short position on the market.
2) Conservative - wait for the price to rise, and enter with less risk.
Manage your capital correctly and competently! Only enter trades based on reliable patterns!
Gold Roadmap==>>Starting to RisingAs I ✅ expected ✅, Gold ( OANDA:XAUUSD ) started to correct from the Potential Reversal Zone(PRZ) , and after breaking the Ascending Channel , it managed to break the 50_SMA(Daily) as well.
Gold is moving near the Support zone($2,603-$2,584) and Support lines .
According to the Elliott wave theory , the first corrective wave of Gold ( main wave 5 ) can be completed in the Support zone($2,603-$2,584) .
Also, Regular Divergence(RD+) between Consecutive Valleys .
I expect Gold to Go up to at least the Broken Support zone($2,640-$2,624) .
⚠️Note: We should expect more dumps if Gold goes below the Support zone($2,603-$2,584).⚠️
🔔Be sure to follow the updated ideas.🔔
Gold Analyze ( XAUUSD ), 4-hour time frame ⏰.
Do not forget to put Stop loss for your positions (For every position you want to open).
Please follow your strategy; this is just my idea, and I will gladly see your ideas in this post.
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GOLD → Buyers stop believing in gold ... Are the bears coming? FX:XAUUSD after Powell's support reaches a local high of 2710, but buyers do not let the price near the risk zone. The price is returning to the correction phase and preparing to update the local lows
The correction started after the strengthening of interest in the dollar, which is growing at the expense of gold because of Trump's victory. The excitement has not subsided yet, it may continue for a few weeks. The 0.25% cut in interest rates was slightly taken into account by the market, but still supported the metal, but short-term. The market is also disappointed with China, especially with the actions of the authorities towards the country's economy. In general, the fundamental background is negative and it is worth considering this information in your trading. Ahead of the US CPI, which will be published on Wednesday.
Technically, the price is turning around and intends to test the liquidity zones located at the bottom...
Resistance levels: 2680, 2685, 2700
Support levels: 2665, 2652, 2637
Emphasis on 2665. A pre-breakdown consolidation is forming. If the price breaks this support, selling may intensify. I do not exclude one more attempt to retest the resistance, for example 2680-2685 before further falling. In general, both fundamentally and technically, the market feels the priority towards the bears...
Rate, share your opinion and questions, let's discuss what's going on with ★ FX:XAUUSD ;)
Regards R. Linda!
GOLD SHORT TO $2,540 (1H UPDATE)Look at the charting carefully & you'll see where Wave 1 & 2 ended. We entered sells at Wave 2 correction & since then the Wave 3 has dropped down in an impulse manner😍
We are only 500 PIPS away from our Wave 3 target, where we will close out 50% of our position & leave another 50% running.
XAUUSD M15 | Bullish Bounce Based on the M15 chart analysis, we can see that the price is currently at our buy zone 2614-2617, a pullback support close to the 78.6% Fibonacci retracement.
Our take profit will be at 2638, a pullback resistance.
The stop loss will be placed at 2604.76, which is a swing-high resistance."
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This time the decline will be more persistentOur website below bet on Trump's election success before the 5th. Obviously, our goal is right. The United States will continue its trade war with China, the US dollar will continue to appreciate, and the decline of gold is inevitable.
It is expected that gold will remain around 2,300 this time. You can click on the website below to follow the market news.
GOLD BUYING ON DIP TILL 2900$HELLO FRIENDS
As I can see gold had done a retracement from ATH 2790 TO 2590$ It was a 1000+ pips retracement and have a look on Fib retracement it kiss golden ratio 0.50 and made a fake breakout to the support channel today candle closing above this support zone is another clue for a new Bull Run of incoming year 2025 as we can see geopolitical tension are escalating and still there is nor cease fire Trump is just a Hope for US not a Full Solution to set the economy in my view he is the man who is just only a hope but it will not work charts are crystal clear Tomorrow CPI Data can create some volatility in markets so make a proper sear is just a trade idea with small risk and big rewards we are looking for ur support and love boost it so many other new traders can join the rally Stay Tuned for more updates
GOLD SOON NEW ATH AROUND 2850-2900This chart presents a potential bullish setup for gold (XAUUSD). After a recent decline, gold appears to be approaching a signficant support level, marked by the black zone near $2,643. The highlighted accumalation where buyers might step in, looking for a reversal signal.
XAUUSDXAUUSD is in a strong uptrend. The price is currently near the support zone 2611-2596. If the price fails to break through 2596, there is a chance that the price will rebound. Consider buying the red zone.
(Very Risky Trade)
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Please consider carefully whether such trading is suitable for you.
>>GooD Luck 😊
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Gold (xauusd): Potential Pullback After Downtrend Breakhello guys!
let's analyze GOLD!
Downtrend Break: The sharp decline suggests a bearish sentiment as gold fails to hold previous support levels around $2,693.
Retest Zone: There is a potential retest zone around $2,678 - $2,693. If the price retraces to this area and faces resistance, it could signal a continuation of the downtrend.
Next Support Target: If the bearish momentum continues, the price may reach a major support area around $2,610 - $2,630 (highlighted in grey), which aligns with a longer-term trendline support.
Continuation Scenarios:
Scenario 1: Price could retrace to the $2,678 - $2,693 area, face resistance, and continue downward toward the support zone.
Scenario 2: If the price breaks above $2,693, the bearish bias may temporarily weaken and move towards higher resistance levels.
EURUSD Eyes Further Drop Amid Downtrend ContinuationThe EURUSD chart illustrates a bearish outlook. The price has broken below a key support level and is now testing previous support as resistance around the 1.0696 level. This retest, if held, could confirm further downside momentum.
The downtrend channel indicates consistent pressure to the downside, with a recent bounce toward the resistance zone marked in red. If EURUSD maintains below this resistance, it could pave the way for a decline toward the next support zone near 1.0522.
The broader context shows a shift from an uptrend to a strong downtrend, aligning with a potential increase in USD strength and bearish sentiment on the Euro.
XAUUSD 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.