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XAUUSD: Continue to Monitor Resistance at 2712-2720During the Asian and European sessions today, gold pulled back as it approached key resistance levels, and is currently near a support zone. Based on the current price structure, the support appears relatively strong, suggesting a potential for a rebound in the short term. If the support remains intact over the next hour, the price could rise again, with focus shifting to the resistance zone around 2712-2720. However, if the support is broken, there is a possibility that the price may test the previous lows again. In this case, the formation of a "W" reversal pattern should be monitored, as it could signal a significant rebound opportunity.
OANDA:XAUUSDLong
by Mia-Signal
XAU/USD – Is the Uptrend Ready for the Next Move?Gold is approaching a major support level within its rising channel! 📊 Could this be the next higher low (HL) in the uptrend? If bulls step in here, we might see a push back toward the channel highs! 🚀 🔹 Key Support Levels: $2,655 is the immediate support, while $2,580 serves as a critical backstop below. 🔹 Potential Setup: Long on bullish confirmation around these supports. 🔹 My Thought: I believe Gold could be forming another HL here, potentially setting up for another push higher before any major correction. Historically Gold has shown bullish momentum leading up to U.S. elections, rallying once before turning bearish afterward. What are your thoughts? Are you bullish or bearish on gold? 💬 Drop your comments below and let’s discuss! 👇
OANDA:XAUUSDLong
by kashifone1
Best trading opportunity before interest rate decision!Market Analysis: Gold has made a powerful comeback today, and those who followed my buy recommendations yesterday have seen substantial profits—congratulations to all VIP members! Reviewing yesterday’s price action, gold's sharp decline was primarily triggered by Trump’s election win, a bearish news factor that was quickly digested by the market. With the Fed’s rate decision looming today, gold remains in a bullish trend. Forecast and Price Movement: Analyzing the current market setup, I anticipate a minor pullback in gold, likely toward the 2680 level. This dip is expected as the gold market prepares for a potential Fed rate cut in the next few hours. Thus, I foresee a brief drop in prices leading up to the rate announcement, followed by a significant rally post-cut. Trading Strategy: Aggressive Approach: Enter a short position at current levels but secure profits before the rate decision. Conservative Approach: Wait for a pullback before the rate cut to establish a long position, capitalizing on the anticipated post-cut rally. Summary and Recommendations: This analysis should provide a clear direction for today’s gold trading. For a detailed breakdown of this week’s trading strategies, please reach out. All VIP members will receive an exclusive, complete trading plan to maximize gains during this pivotal market phase.
OANDA:XAUUSDShort
by Falcon-Training-Camp
XAUUSD: Target of 2686 Achieved; Bulls Still Have OpportunityAs of now, gold has rebounded by over $40, achieving the 2686 target shared in our post-drop strategy. Those who sustained losses during the recent decline should now have recouped them, and some may even be in profit. This trading experience has likely given everyone a deeper understanding of the market, as well as an opportunity to learn to overcome the inevitable fears that come with trading, helping to bring a more rational approach. Looking ahead, I believe the rebound following this major drop is not yet over. A retest of support levels will be a key focus, and as long as support holds, gold reaching 2700 again seems very likely. For strategy, we can continue focusing on buying at lower levels.
OANDA:XAUUSDLong
by Mia-Signal
Expectations of a Fed rate cut boosted the reboundMarket Analysis: Today, gold prices have fallen below the 2700 mark following a surge in the U.S. dollar after Donald Trump’s surprising political comeback as President. The primary driver behind this pullback is the market’s expectation that Trump, known for his pro-capitalist stance, will prioritize U.S. economic growth. This outlook has strengthened the dollar, resulting in downward pressure on gold. Currently, it appears the market has largely priced in the bearish impact of Trump’s election, limiting gold's potential for further decline. Additionally, the Federal Reserve’s two-day policy meeting, concluding on Thursday, is expected to result in a 25-basis-point rate cut, which would likely provide upward momentum for gold. Trading Strategy: Given the current low levels, going long on gold presents a strategic opportunity. With the anticipated Fed rate cut, we can expect a positive impact on gold prices, fueling a rebound. Recommendation: Based on this analysis, the general trading direction should be clear. For specific entry points and comprehensive weekly strategies, please reach out. All VIP members will receive exclusive access to this week’s detailed trading plan.
OANDA:XAUUSDLong
by Falcon-Training-Camp
XAUUSD: The Rebound Is Not Over YetDue to the impact of the news, gold prices have fallen significantly. When gold prices approached around 2660, I suggested buying within the 2660-2652 range to capture the rebound after the sharp drop. The first wave of the rebound reached a high of around 2678, with a gain of over $20, and those who followed the signal made very decent profits. Currently, gold prices are oscillating in the bottom range, with volatility gradually decreasing. However, the rebound has not ended yet, and there is still room to buy. This rebound should at least push prices above 2680. Tomorrow, we have the interest rate decision, and the market widely expects a 25 basis point rate cut. After today’s drop, gold should not see much more downside in the short term. Therefore, tomorrow’s trading should focus on buying at lower levels. The first key support levels to watch are the 2652-2648 range, followed by around 2639. Overall, the current market environment still holds opportunities, but it's crucial to stay flexible and adjust strategies according to market movements. Patience and risk management will be the keys to successful trading.
OANDA:XAUUSDLong
by Mia-Signal
XAU! 11/7! retest 2680 area to get liquidityXAU / USD trend forecast November 7, 2024! SCALPING Gold prices (XAU/USD) decline for the second straight session on Thursday, weighed down by a stronger US Dollar following former President Donald Trump's election win. The precious metal faces selling pressure as safe-haven demand wanes, with market optimism rising on the back of “Trump trades.” With the presidential outcome now clear, the markets are less concerned about a contested result, contributing to the bearish sentiment around gold. Gold prices mostly sideways before the FOMC meeting tonight: 2650 - 2670 /// BUY XAU : zone 2661-2658 scalping SL: 2655 TP: 40 - 80 - 150 pips (2673) Safe and profitable trading
OANDA:XAUUSDLong
by Moon-ForexAcademy
6
XAUUSD: Buy@2660-2652 TP 2686-2702The result of the election, with Trump becoming the President of the United States, led to a significant drop in gold prices. The original target range for this week was between 2786-2752, but due to the news impact, the target was reached earlier than expected, so the upcoming trading plan needs to be adjusted. Today's trading was quite volatile. The long positions entered early were closed near 2728, resulting in some losses. However, these losses were effectively compensated during the subsequent rebound. At the same time, short positions brought in substantial profits . Currently, gold prices have dropped to around 2760.. It's important to note that gold's price corrections often come with strong rebound signals. If you're currently holding long positions and temporarily trapped, it's advisable to remain patient, as a rebound is expected soon. My personal target for this rebound is around 2700. The potential for this rebound is worth watching closely.
OANDA:XAUUSDLong
by Mia-Signal
XAU/ USD! 11/5! Gold short term recovery! Aiming for target2705XAU / USD trend forecast November 5, 2024 Gold price (XAU/USD) recovers from an intraday dip, holding near $2,735 with little change heading into Tuesday's European session. Safe-haven demand driven by the close US presidential race and potential for increased Middle East tensions supports the metal. Additionally, as traders pull back from the "Trump trade" and anticipate further rate cuts from the Federal Reserve amid a cooling US job market, US Treasury yields decline. This has led to renewed US Dollar selling, adding further support for gold as global equity markets maintain a cautious outlook. Election results approaching - slight recovery before sharp decline, heading towards 2705 /// BUY XAU : zone 2734-2731 SL: 2726 TP: 50 - 150 - 300 pips (2761) Safe and profitable trading
OANDA:XAUUSDLong
by Moon-ForexAcademy
8
Going Long on Gold During the Election PeriodTomorrow, gold is expected to experience significant volatility, as market sentiment may be influenced by a range of events, particularly the outcome of the elections. Based on the current technical setup, my plan is to maintain a bullish bias in the short term, especially if gold continues its upward trend. However, if the election results turn out to be unfavorable for the bulls and the market reverses, I will add short positions to my existing bullish trades to capitalize on potential downside risks. I will closely monitor price movements and adjust my strategy based on market reactions. Additionally, after the end of this week, given the increasing market uncertainty, my focus will shift to short positions, with the aim of targeting the 2686-2652 range. This area is likely to provide strong support and will be an important level to watch.
OANDA:XAUUSDLong
by Mia-Signal
XAUUSD: Bullish trendToday, gold has tested the support at the 2732-2728 range again. So far, the support remains intact, and the short-term trend is still leaning towards a bullish outlook. Based on this, the primary trading direction in the current session remains bullish. From a technical perspective, gold is likely to continue its upward momentum in the near term. The key resistance zone to watch on the upside is between 2750 and 2758. It is worth noting that a resistance level has emerged around 2745 since the market opened yesterday. However, given the overall trend, this resistance does not pose a strong technical barrier at the moment, and a breakout above this level is not expected to face significant difficulty. Therefore, if gold can break above the 2745 level, there is a high likelihood of further gains towards the 2750-2758 range.
OANDA:XAUUSDLong
by Mia-Signal
Seize the opportunity and welcome Super WeekMarket Analysis: No need for lengthy discussions; the best strategy in the current market is to initiate long positions in gold at lower levels. With the U.S. elections and Federal Reserve decisions approaching, the gold market remains bullish. Recent rumors of Iranian retaliation against Israel, coupled with disappointing employment reports, suggest the Fed may lower interest rates, all of which will likely drive gold prices higher. Technical Analysis: Gold has retraced to the strong support level of 2733-2735. This area represents a robust support zone from the past few days. In the absence of bearish news, it is unlikely that this support will be broken. Thus, our trading strategy this week will pivot from last week’s approach, focusing on going long at lower levels. Today’s Trading Strategy: Entry Strategy: Go long on gold near the support level Take-Profit Target: 2748-2750 Stop-Loss: 2718-2720 Conclusion and Recommendations: This week marks a super week for the month, with numerous major events and data set to impact market trends. How should you navigate these trading conditions? What will the market trend look like? After reviewing my analysis, you’ll have a clearer sense of direction. For specific trading strategies, please reach out to me, and I’ll share the comprehensive trading plan for the week with all my VIP members.
OANDA:XAUUSDLong
by Falcon-Training-Camp
XAUUSD: Can Gold Return to 2780?On Friday, gold prices experienced a slight decline, mainly under the pressure of a stronger dollar and rising U.S. Treasury yields. However, weaker-than-expected U.S. job growth fueled market speculation for a Fed rate cut, cushioning gold’s decline. In October, due to hurricane disruptions and an aerospace industry strike, U.S. nonfarm payrolls saw a modest gain of just 12,000 jobs, marking the smallest increase since December 2020. Although the dollar initially retreated, it closed up 0.4%, and the benchmark 10-year Treasury yield rebounded from early losses, diminishing the appeal of non-yielding gold. Gold prices returned to the support zone, aligning with prior predictions. Current chart patterns suggest a potential “W” bottom, signaling bullish prospects, with short-term indicators pointing to a likely upward move. However, a mid-term bottom pattern has yet to form, and bulls should watch for resistance around 2750 in Monday’s trading, as a retest of support remains possible. With the U.S. election approaching and reports of a potential retaliatory move by Iran against Israel, multiple uncertainties hover over the market. Coupled with a lackluster jobs report, many analysts now see a near 100% probability of a 25-basis-point Fed rate cut next week. While rate cut expectations might bolster gold bulls, this scenario could already be priced in, meaning gold prices may potentially drop in response to the rate decision. Ahead of this, the U.S. election on Tuesday and initial jobless claims on Thursday will be key factors influencing gold. In summary, a turbulent week lies ahead for gold, with investors encouraged to remain vigilant and approach trades with caution.
OANDA:XAUUSDLong
by Mia-Signal