XAUUSD Short From Resistance!XAU-USD is about to retest the
Horizontal resistance of 2058
From where I think we will see
A local bearish correction !
Xauusdforecast
XAUUSD - Psychological resistance level 2000 and market trendThe global spot gold price was around $2,009.3/oz, down $17.7/oz from overnight. Comex New York February 2024 gold futures price is $2,011.5 per ounce.
At 8pm (Vietnam time) on January 17th, the spot gold price in the world market today was around $2,027 per ounce. The February 2024 Comex New York delivered gold price is $2,035 per ounce.
On the night of January 17th, the global gold price was approximately 11.1% higher ($203 per ounce) than at the beginning of 2023. The global gold price converted to US dollar bank prices was VND 60.9 million/tail including taxes and fees, about VND 15.3 million/tail lower than the domestic gold price as of late afternoon on January 17.
Global gold remains under pressure due to the sharp rise in the US dollar. Domestically, both SJC gold bars and gold rings are trending lower due to concerns about government intervention.
Current Gold I see is completely on the Sell side. The current price is likely to fall further to the 19xx area.
> Today I will continue to monitor sales in the 2012>2015 area
SL 2020
City 2002>19xx
>Buy Points Today will be dominated by short-dip buying according to RSI. And the Canh Sell family is the main one
GOLD (XAUUSD): Important Breakout 🥇
The yesterday's retail sales data turned out to be very bearish for Gold.
The price violated both a solid rising trend line and a key horizontal support on a daily.
The broken structures compose a supply zone now.
We can anticipate a further bearish continuation.
Next support - 1979
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Where will gold go after testing the 2000 level?Dear friends, the U.S. dollar has been in a strong position recently, and judging from recent economic data, the U.S. economy is not that bad, and the market's expectations for interest rate cuts have once again decreased, causing gold to come under pressure. Gold has been falling all the way and shows no signs of turning back. Gold is currently trading near the 2004 level and will soon test the 2000 mark again.
From the perspective of the retracement principle, the decline in gold has far exceeded expectations. In theory, gold should rebound, but gold does not show any signs of rebound. Then we can confirm that the bullish pattern of gold has been destroyed, and the short energy now occupies an absolute dominant position. Therefore, we cannot easily operate against the trend in trading, otherwise it will become a bloody lesson in trading! However, the current 2000 position mark still has a certain supporting role, so we need to wait for gold to rebound before continuing to short gold. Currently, gold faces resistance in the 2018-2020 area and 2030-2032 area in the short term.
Therefore, in short-term trading, we cannot easily go long gold for the time being, but we cannot directly short gold at this position. We need to wait patiently for gold to rebound. After gold rebounds, we will consider starting to short gold. I share detailed trading ideas and trading strategies every day. The gears of destiny are turning. I hope that with my help, we can all make continuous profits in the market! And you can follow the channel at the bottom of the article to get detailed trading signals, trading lots, and TP and SL.
GOLD (XAUUSD): Detailed Technical Outlook 🥇
After a breakout of a resistance line of a bullish flag pattern on a daily,
Gold is currently retesting that.
We can see a perfect confluence between a horizontal support and a falling trend line.
A bullish movement may initiate soon.
Your bullish confirmation can be a bullish breakout of a falling parallel channel
on an hourly time frame.
Patiently wait for a breakout and be prepared to buy then.
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XAUUSD - today there will be a slight return to the 4x areaGlobal gold prices plunged, with spot gold falling $26.7 to $2,028.6 per ounce. Gold futures were trading at $2,031.7 per ounce, down $19.9 from the previous day.
Gold prices fell more than 1%, pressured by a rebound in the US dollar and rising US Treasury yields, following "hawkish" comments from US Federal Reserve Governor Christopher Waller. ``About this year's interest rate cut.
Governor Christopher Waller said the U.S. is still "a long way" from the Fed's 2% inflation target and the central bank should not rush to cut interest rates until it is certain that inflation is falling. maintain.
Following the remarks, the U.S. dollar index rose nearly 1% to its highest level in more than a month, making bullion less attractive for holders of other currencies, while the yield on the 10-year U.S. Treasury note also rose, increasing the number of non-holding opportunities. Expenses have increased. -Interest bearing.
The Fed is expected to keep interest rates steady at its first meeting of 2024 on January 30th and 31st. Traders see a 67% chance of a rate cut in March, according to the CME FedWatch tool.
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Everyone Sells Surf Gold Price 2026>2028
SL 2030
TP 2020>201x. This margin is golden and easy to recover. Fomo Canh sells correctly
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SELL LIMIT 2040-2042
TP 202x
XAUUSD 17/01Pair : XAUUSD ( Gold / U.S Dollar )
Description :
Completed Impulsive Waves " 12345 " , " abc " Corrective Pattern and " 12 " Impulsive Waves. Bearish Channel as an Corrective Pattern in Short Time Frame and Rejection from Upper Trend Line and Fibonacci Level - 61.80%. We have Break of Structure and Retracement
💡 XAUUSD: Reversal signalGold price suddenly dropped sharply in the last session when sellers returned around the 2060 resistance zone. Currently, the price has been forced to fall below the 2040 conversion price zone and is testing the previously broken down channel. Observing on the daily frame, we also see a very noticeable bearish engulfing pattern that has just appeared. The situation has changed, these price behaviors show that the buyers no longer control the market and the possibility that the price will decrease in the short term, you should temporarily suspend the buying strategy. Pay attention to the 2020 zone, if it is completely broken, the target that the bears aim for could be 1980.
Technical Analysis of Gold Prices: Current Trends and Potential Gold experienced a significant decline on Tuesday, completely erasing the previous month's gains and edging closer than ever to the 50-day simple moving average, a crucial support indicator just above the $2,010 level. Bulls must diligently defend this technical floor, as failure to do so could trigger a downward momentum towards $1,990, followed by $1,975.
On the flip side, if buyers stage a comeback and initiate a reversal in the upward trend, resistance is likely to emerge around the $2,045-$2,050 range. Overcoming this formidable barrier might pose a challenge, but a decisive breakthrough could set the stage for a favorable rally towards $2,085, the peak observed in late December. With further strength, XAU/USD could be on track to retest its all-time high.
Drawing insights from the available content, it's evident that the gold market is delicately poised between critical support and resistance levels. Traders and investors alike will be closely monitoring the market dynamics to discern whether the current technical indicators will pave the way for a renewed upward trajectory or if further declines are imminent. The $2,045-$2,050 range emerges as a pivotal battleground, making it crucial to observe how market participants respond to potential price movements in the coming sessions.
Gold will start to rebound after the correction opens up spaceDear friends, gold has fallen in the short term and is currently trading near the 2033 position. I guess there must be many friends who are shorting gold at this position and believe that gold is no longer strong and has begun to turn into a downward trend.
In fact, I don’t think so. Although the US dollar has returned to strength and gold has been under pressure to fall by $17 today, short-term gold has failed to break through downward many times and has received support from the 2030-2032 area in the short term. As long as gold cannot fall below this area,then gold will continue to rebound. Gold does not support a sharp decline at this time.
So in short-term trading, I don't think we should continue to be short gold. Instead, we should consider starting to be long gold. I share detailed trading ideas and trading strategies every day. The gears of destiny are turning. I hope that with my help, we can all make continuous profits in the market! And you can follow the channel at the bottom of the article to get detailed trading signals, trading lots, and TP and SL.
XAUUSD POSSIBLE 120 pips bullish setupsince last week gold had a very indecisive and unclear price action the overall direction was unclear but since geopolitical situation is getting serious and serious i think we should be looking at the bullish direction.
i have found a pretty good scenario with a good entry if a bullish move occurs .
First the price reached a daily keylevel and fibbonacci golden zone level
then the last 4H candle closed as a doji hammer indicating strength of buyers on lower tfs we can find a formation of an inverted head and shoulder + rsi divergence.
i guess the break of the neckline could trigger a bullish continuation towards the 2050s.
If gold is adjusted in place, you can continue to buy.
Hello everyone. From the current 4-hour chart, we can see that gold has the same trend before and now, touching around 2015 and then rising to around 2040. Then it fell again from 2040 to 2020, and then rose again, breaking through 2040 to reach the top position. If gold completely replicates the previous market trend, we must be careful that it will fall back here, so we definitely cannot continue to buy gold above 2040. But the decline here in 2020 will definitely be relatively large, and it may not necessarily be reached. Therefore, for the time being, we will focus on today’s support position of 2028-2030. If there is another opportunity to fall back to 2028-2030, then we can buy it without hesitation. If it rises again from 2028-2030, it will definitely be broken near 2048 last week, and it will most likely go to the top of 2070.
XAUUASD Gold 16/01Pair : XAUUSD ( Gold / U.S Dollar )
Description :
Completed " 12345 " Impulsive Waves and " AB " Corrective Waves at Strong Support Zone. We have Bearish Channel as an Corrective Pattern in Short Time Frame with the Breakout of the Upper Trend Line and Retracement. We have Break of Structure and Strong Divergence
First continue to short gold at high levels, then go long goldDear friends, gold is currently trading near the 2055 position. For the current trading plan, I mainly focus on shorting gold near the 2055 position, and then add positions to continue shorting gold after gold rebounds to the 2060 area.
We can see from the chart that although gold rose on Friday, it closed with a long upper shadow line. The rebound was not strong, and it faced strong short-term resistance above. In addition, last Friday gold rose to the 2062 position but did not break upward, so there should be many people chasing gold at this position, which also triggered a large number of short sellers to stop losses at this position, and even backhand long gold.The sentiment is a turning point, so even if gold wants to continue to rise, it should wipe out these long positions in advance.
Therefore, in short-term trading, I think we should continue to be short gold at high levels, and then wait for gold to fall back before continuing to be long gold. I share detailed trading ideas and trading strategies every day. The gears of destiny are turning. I hope that with my help, we can all make continuous profits in the market! And you can follow the channel at the bottom of the article to get detailed trading signals, trading lots, and TP and SL.
XAUUSD GoldPair : XAUUSD ( Gold / U.S Dollar )
Description :
Bearish Channel as an Corrective Pattern in Short Time Frame with the Breakout of the Upper Trend Line. Completed " 12345 " Impulsive Waves and " AB " Corrective Waves. Rejecting from the Demand Zone and Fibonacci Level - 61.80%
Gold Surges to $2,055 as US Interest Rates DeclineGold extends its three-day rally, reaching $2,055 per troy ounce in Asian trading on Monday. The surge is fueled by risk aversion from Middle East political tensions and speculation about a March interest rate cut by the Federal Reserve (Fed).
Escalating Israel-Gaza conflict, especially after an Iranian-led Houthi missile attack on the USS Laboon, boosts Gold demand as a traditional safe-haven asset. Concerns linger over potential disruptions in the Hormuz Strait, and Iran's response to recent political developments is closely watched.
The US Dollar (USD) hovers around 102.40, influenced by declining US Treasury yields, possibly triggered by weak Producer Price Index (PPI) data. The US Dollar Index (DXY) trims gains as US Treasury bond yields decrease, with the 2-year and 10-year yields at 4.14% and 3.94%, respectively.
Barclays' Friday revision anticipates a March Fed rate cut, shifting market sentiment towards Fed monetary policy easing, pressuring the Greenback. Barclays analysts expect a 25 basis points reduction at the March Federal Open Market Committee (FOMC) meeting.
