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XAUUSD: Technical analysis and operational strategy Gold came under selling pressure on Wednesday as US retail sales fell at a slower pace than expected in October. The reason for the pullback in spot gold after hitting a weekly high of 1975, failing to hold above $1970, is mainly due to the rebound in the US dollar and the rebound in US Treasury yields. Spot gold fell on Wednesday, retreating from a high of $1,973 to near $1,955. After the opening of this trading day, gold prices still continued to weaken, trading around $1966. On the 4-hour chart, gold remains above the 20-cycle SMA, suggesting upside potential. Technical indicators, however, give mixed signals. The Relative Strength Index (RSI) is trending down, momentum indicators are flattening, and MACD indicators show limited potential. A break below $1,955 would leave gold vulnerable in the short term. If it breaks through $1970 / oz, gold will test the key resistance level of $1975 / oz. In the short term, the operation tends to be in the 1955-1975 interval, waiting for the break of the weekly line interval tomorrow, and then make arrangements! Spot gold operation recommendations: Strategy one: Callback 1956-1958 near multiple single entry, stop loss of 6 dollars, the target 1970-1972 line; Strategy two: Rebound 1972-1970 near the short entry, stop loss of $6, the target 1958-1956 line. If you are confused about trading, please join me, I believe you will have a great harvest!
FOREXCOM:XAUUSDShort
by HectorBrown1
1
He predicts that the price of gold will fall by 1950.Gold prices fell below key levels in Asian trading on Tuesday as traders turned to the dollar ahead of U.S. inflation data that is widely expected to confirm certain interest rate trends. Profit-taking has been active in the yellow metal over the past two weeks, pushing its price to its lowest level in more than three weeks, as prospects for higher long-term U.S. interest rates weaken the yellow metal's outlook. As of 12:32 pm ET, spot gold was down 0.1% at $1,944.71 an ounce, and December gold futures were down 0.1% at $1,948.25 an ounce. . Focus is on rising US CPI, dollar and yields Gold prices came under pressure from a stronger dollar and U.S. Treasury yields as markets focused primarily on interest rate-sensitive assets ahead of consumer price index inflation data later this month. Statistics show that inflation is expected to slow in October after it has exceeded expectations over the past two months. The news also came shortly after many Federal Reserve officials warned that high inflation could incentivize banks to raise rates further. A longer period of interest rates is expected to increase the opportunity cost of investing in gold bullion, putting downward pressure on the gold price. This trade had a negative impact on gold last year, leaving the outlook for gold uncertain. But predictions of a slowdown in the global economy have put some buyers of the yellow metal on hold. Statistics released later in the day are expected to show the eurozone entering a technical recession in the third quarter. The ongoing war between Israel and Hamas is also expected to boost demand for gold as a safe-haven asset, but traders have started pricing in the yellow metal as much less risky in the past two weeks. .
OANDA:XAUUSDShort
by AstronautPioneer
GOLD SELLERS May be getting Over-Confident UPDATE - in this current area (purple circle) it appears that price is sticking around for some time My question to you is - who do you think will increasingly become interested at this area (purple circle) In my opinion it is buyers Meaning their stop losses might be below the zone (purple line) BUT That is not all - Who would be interested in price breaking below that zone because the market has been bearish for the past few days? I think sellers because remember I told you in my analysis a few days ago - the dealer has to give sellers a win because he doesn't want them to become smart and stop going against the direction (counter trend) Who do you think is all riled up right now? SELLERS Don't believe me? go in the Gold live trading chat on tradingview and read what everyone is saying Sellers are interested in the break out if the dealer creates that breakout sellers will sell The question is - will he continue to sell? My advice is to continue to wait for CPI to occur and let's see what is what from thereUPDATE - in this current area (purple circle) it appears that price is sticking around for some time My question to you is - who do you think will increasingly become interested at this area (purple circle) In my opinion it is buyers Meaning their stop losses might be below the zone (purple line) BUT That is not all - Who would be interested in price breaking below that zone because the market has been bearish for the past few days? I think sellers because remember I told you in my analysis a few days ago - the dealer has to give sellers a win because he doesn't want them to become smart and stop going against the direction (counter trend) Who do you think is all riled up right now? SELLERS Don't believe me? go in the Gold live trading chat on tradingview and read what everyone is saying Sellers are interested in the break out if the dealer creates that breakout sellers will sell The question is - will he continue to sell? My advice is to continue to wait for CPI to occur and let's see what is what from there
OANDA:XAUUSDLong
by Brandon_evo4
1
Going long gold has begunIt is now 8:46 in the morning. I have announced my trading plan and trading signals on the channel, and I have executed the transaction according to my trading plan, so then we just wait for the profit.I believe we can get a pretty good bang for our buck on this deal. In fact, as long as you grasp the rhythm, it is easy to profit from gold trading. If you don't know the accurate trading rhythm, you can follow my trading ideas. I post my trading ideas every day and I also post free trading signals on a regular basis. Many friends have given feedback that it is very helpful. If you want to learn market trading logic, or you want clear trading signals and get more profits, I can satisfy you. Be sure to follow the bottom of the article to view the details!
OANDA:XAUUSDLong
by Super_Antonio
GOLD PLAN UPDATE: FOLLOW SELL💯UPDATE DAILY GOLD PLAN November 7 👉 World gold prices dropped quite sharply as investors turned their attention to assets with higher risk such as stocks, in the context of the market waiting for a statement from the US Federal Reserve (Fed) organizations. this week, including Chairman Jerome Powell, to look for new signals on interest rates. 👉 The need for defense will gradually decrease when there are no new major escalation forums in the war between Israel and the Palestinian Hamas force. Investors are no longer interested in safe assets like gold as they were when the war first broke out in early October. Instead, they are attracted by the strong rise of the stock market, as evidenced by The US had the enhanced version of the 6-link chain arriving on Monday. 👉 A report by Heraeus Metals company stated that for gold prices to maintain a sustainable level of 2,000 USD/oz, two important catalysts are needed. The second is a signal that the Fed is rearranging its interest rate cuts, and the second is the net return of gold exchange-traded funds (ETFs). 👉 TECHNICAL COMMENTARY: Gold has developed through the rising price channel in the h4 frame and is finding deeper support areas. Priority order Sell before touching hardware 1950 👉Make a trading plan: 🔽 Sell Gold Zone: 1992-1994 SL 1997 City 1980 - 1970 -1961 🔽 Selling Gold Zone: 1980-1982 SL 1986 City 1975 - 1970 -1961 🔼 Buy Gold Zone: 1965 -1963 1960 City 1971- 1976 -1980
OANDA:XAUUSDShort
by AETradingFx1
Gold prices are trending lower, with mixed trends related to the Commodity markets have experienced significant volatility due to a variety of factors, including global economic concerns, weather-related impacts, production forecasts, and speculation related to reserve interest decisions. united states of america. There were signs that the US Federal Reserve's interest rate hike cycle was over, increasing market optimism. The Fed kept interest rates within its target range of 5.25% to 5.5%, supported by Chairman Powell's comments that met market expectations and stimulated risk appetite. Anadolu Agency reported the decision last week. Various trends are observed in the precious metals sector. Gold and palladium fell 0.6% and 0.3%, respectively, while silver and platinum rose 0.4% and 2.9%, respectively. In the energy market, Brent crude oil prices fell by his 4.2%, but this decline was offset by his 11.1% rise in natural gas prices on the New York Mercantile Exchange. Other commodities such as copper, lead, aluminum and zinc also rose in price, in contrast to last week's 1.5% drop in nickel prices.
OANDA:XAUUSDShort
by AstronautPioneer
XAUUSD: This week's summary and next week's trading ideas Recent spot gold trend is strong, the situation in the Middle East brought about by the risk aversion to the gold price constitutes obvious support, gold bulls stood on Friday 2000 US dollars, once on the 2008 US dollars. On the evening of the 28th, Israel again bombed a house in Gaza. On the 27th, the United Nations adopted a draft resolution on the Palestinian-Israeli issue, calling for a truce. In addition, Friday's events between India and Pakistan, northern Myanmar, and the US air strike on Syria have brought new variables to the geopolitical risk. However, the US economy remains strong, the data released in the week showed that the US GDP grew by 4.9% in the third quarter, and the pressure on the Federal Reserve to raise interest rates further remains, which has a certain pressure on gold prices. Gold has recently shown a strong upward trend, although it has retreated in the short term, but the overall trend remains upward. It is expected that the market will usher in a large probability of continued rise in the future. Next Monday's operation is recommended to be mainly low. Gold:buy@2000-2002 tp 2015-2023 If you are confused about trading, please join me, I believe you will have a great harvest!
FOREXCOM:XAUUSD
by HectorBrown1
Gold Futures / GDC / XAUUSD / ETF - GDX - BearishTVC:GOLD ACTIVTRADES:GOLD NYSE:GOLD AMEX:GDX COMEX:GC1! As per my previous post on Gold, the current price action is creating and symmetrical triangle on the daily chart and as we can see PA rejected off from the .786% retracement. With daily rejecting off 1968 levels confirms there is more downside remaining and the break of below triangle trendline will open up targets of 1894 and 1834. According to Elliot Wave, we completed 5 waves in May 2023 and currently the PA is printing an ABC Zig-Zag pattern. RSI : Below 40 will trigger more shorts. MACD : Is still below 0, suggests bearishness. Candlestick Chart: If price action breaks 1947, next target for TP is 1934 and 1924. On candlesticks we have two patterns - 1) Bearish Harami 2) Evening Star doji. According to my trend analysis indicator, we are trending sideways between 1919 and 1974 levels. My previous posted Ideas on Gold. OANDA:XAUUSD FOREXCOM:XAUUSD COMEX:GC1! AMEX:GDX
COMEX:GC1!Short
by Aman_FX
XAUUSD: Gold entered a bearish cycle due to USD strength⭐️The global gold price continued its slight decline, with spot gold dropping by $4.5 to $1,908.2 per ounce. Futures gold traded at $1,932.5 per ounce in the last session, down $2.6 compared to the previous morning. ⭐️In the trading session on September 13th, the global gold market struggled to avoid a steep decline as the consumer price index (CPI) rose higher than expected in the previous month. Specifically, the US CPI in August increased by 3.7% compared to the same period last year, and the core CPI rose by 4.3% during the same period. The CPI was predicted to rise by 3.6% compared to the same period last year, compared to a 3.2% increase in the July report. ⭐️Market analysts have noted that the latest inflation data is prompting the market to consider the possibility of further interest rate hikes later this year.
OANDA:XAUUSDShort
by SoulChampion
2