XAUUSD - the downtrend is increasingly clear🖥 GOLD PRICE ANALYSIS - July 1, 2024
🔽Watch Sell Gold on the rate variety 233x-234x
❌Stop location 2345
🔼Buy brief Gold at rate variety 2295-2300
❌Stop location 2285
🌐 During ultimate week`s session. Comment pretty near the Gold market, Signs of sideways motion withinside the beyond week are pretty clear, it may be visible that the cutting-edge accumulation location of Gold is withinside the 229x-234x location.
🕯 In this morning's session, Gold confirmed symptoms and symptoms of a moderate Gap, which may be taken into consideration a rate recuperation force, to retain the subsequent decline of Gold this week.
🕯 Traders can promote while the rate retests the 233x-234x location, it's far anticipated that Gold will fall again to the 2300 location this week.
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Commenting at the gold rate trend, a few analysts stated that even though long-time period basics continue to be stable, the marketplace lacks a catalyst to create a sturdy recovery. Investors retain to recognition at the possibility value of gold because the US Federal Reserve (FED) keeps a advantageous economic policy.
Although gold might also additionally remain a tepid trade, the valuable steel is forecast to rebound in September.
Xauusdsell
XAUUSD - Strong uptrendXAU - 10:00 June 28, 24
Gold is currently increasing again in the Strong Buying Trend Plan. With this momentum, Gold will probably increase 235x again soon, everyone.
Everyone today refer to Canh Buy Gold around 2317>2319
SL 2315
City 2326>2335
If Gold Increases again without breaking past 2327, then Sell Gold again around the old candlestick area around 2327>2329
SL 2331
TP 2320>231x
On Friday, I do not encourage much trading. Last week, there were a few short SL days, but overall, I still had good trending beats. Last week, anyone who installed a Bot or followed a Bot was flooded with profits 👌👌 @All
Across maximum timeframes, BB is narrowing and buying and selling sideways over the weekend after the valuable steel capitalized on a sturdy in a single day recuperation from two-week lows. The fee is presently trying out the 2320 guide stage amid moving sentiment. With the cutting-edge fashion, fee will increase are viable however the resistance stage at 2345 is not likely to be damaged due to the fact the primary fashion of the marketplace continues to be correction.
The attention now turns to the maximum applicable US macroeconomic report, the Personal Consumption Expenditures (PCE) Price Index. The Federal Reserve`s desired inflation index could be launched on Friday and is predicted to expose inflation growing 2.6% 12 months-on-12 months in May, barely decrease than preceding stage of 2.7%. Easing inflationary pressures will raise hopes for an upcoming US hobby price reduce and cause a decline withinside the USD. However, because the marketplace might also additionally turn out to be optimistic, the opportunity of XAU/USD growing may be very constrained.
The admin in my view believes that the fee will now go back to the constrained resistance location of the BB band, gold will decline. The predicted goal for this decline is at the least the 2300 stage.
Don’t chase the rise in gold, continue to short gold!To be honest, the rise in gold today far exceeded my expectations. Gold hit a high of around 2331, and strongly broke through the short-term resistance of 2315 and 2325. In particular, the release of the initial jobless claims data was bearish for gold, but it was unexpected that gold rose instead of falling.
Although gold rebounded strongly in the short term, I don't think the trend has reversed. First of all, after gold fell below the 2300 mark yesterday, it rebounded directly to around 2331 today. The time was too hasty and the time window was unreasonable! In addition, the continuous rise in gold in the short term is actually at a high level, because the current gold price is still suppressed by the 2335 platform above, and the sharp rise must have a retracement trend to confirm support!
In addition, in my opinion, today's gold bulls' raid is just the last struggle of the bulls. It is also sweeping the short orders. When the short orders are swept clean, it will fall again! ! ! So in terms of trading, what we have to do now is not to chase the rise of gold, but to insist on shorting gold!
I share detailed trading strategies and trading signals every day. You can follow the channel at the bottom of the article to get detailed trading signals and learn trading logic. People who are already in it have already made a lot of money. Let us enjoy the journey of making money together. !
DOWN trend for gold!! under $2300⭐️ Smart investment, Strong finance
⭐️ GOLDEN INFORMATION:
Gold price (XAU/USD) continues its steady movement below $2,300, approaching a two-week low. The Fed's unexpected hawkish stance earlier this month, predicting only one interest rate cut in 2024, bolsters US Treasury bond yields and hampers the non-yielding gold. The global equity markets' underlying bullishness also limits the upward potential of this safe-haven metal.
⭐️ Personal comments NOVA:
Gold price reached the target area of $2300 yesterday, continuing the DOWN trend, waiting for price reaction when bears prevail.
⭐️ SET UP GOLD PRICE:
🔥BUY GOLD zone: $2271 - $2269 SL $2264
TP1: $2276
TP2: $2284
TP3: $2290
🔥SELL GOLD zone: $2320 - $2322 SL $2327
TP1: $2310
TP2: $2300
TP3: $2290
⭐️ Technical analysis:
Based on technical indicators EMA 34, EMA89 and support resistance areas to set up a reasonable SELL order.
⭐️ NOTE:
Note: Nova wishes traders to manage their capital well
- take the number of lots that match your capital
- Takeprofit equal to 4-6% of capital account
- Stoplose equal to 2-3% of capital account
- The winner is the one who sticks with the market the longest
USD soared, causing world gold prices to fallGold the day past fell deeply to the 229x location and is having a mild restoration with Rsi oversold.
With the primary fashion of the marketplace being down, it's far very viable that Gold Today`s rate will growth 5>7 greater instances earlier than reducing further.
Today's Plan I will Buy consistent with rsi and look ahead to accurate factors to promote consistent with the Trend.
All buyers are looking Buy GOLD 2297>2300
SL 2295
City 2306>2313
Canh Sell Gold on 2310>2313
SL 2316
City 2306>2288
Prioritize Selling consistent with Trends and Buying Small Vol
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World gold price 'cools down'
According to expert analysis, the direct factor causing world gold prices to fall is the high USD and sharp increase in US government bond yields, at the same time investors are interested in expected US inflation data. announced this week.
Head of commodity strategy at TD Securities, Mr. Bart Melek, commented: "At the present time, the market is likely reacting to information with the USD, and at the same time the market continues to influenced by expectations that the US Federal Reserve (Fed) will likely not take any action related to interest rates this summer."
The USD increased 0.4% to its highest level in 2 months compared to the currencies of G7 countries, so gold became more expensive for investors owning other currencies. At the same time, the 10-year US Treasury bond yield hit its highest level in 2 weeks.
This week, the focus of the market's attention is the US consumer spending index (PCE), an index that the Fed is very interested in in its policy decisions. The performance of the PCE index will have a certain influence on the Fed's policy decisions.
In addition, data on US GDP in the first quarter of 2024 and information related to the debate between US President Joe Biden and Donald Trump will also attract great attention.
Data released on Tuesday this week showed that US consumer confidence in June 2024 cooled amid worries about the major economic outlook, although consumers still believe that US inflation in 2025 will less stress.
XAUUSD GOLD Technical Analysis and Trade Idea👉🔍 In this analysis of XAUUSD (GOLD), we examine higher time frame charts that suggest a bearish trend with a potential retracement into resistance. The price action indicates a strong bearish move into support. I am anticipating a possible short-term bullish reversal into resistance for a buy, followed by a sell opportunity from the Fibonacci retracement. It’s crucial to understand that this is speculative and not a guaranteed forecast. Watching for specific price movements to confirm a buy or sell is essential, as explained in the video. This video offers a detailed look at the trend, market structure, and price action. Keep in mind, this content is for educational purposes only and trading carries significant risk. Always use robust risk management strategies in your trading practices. 📈🔔
Continue to short gold, targeting 2285-2280Gold continued to fall today and fell below the 2300 integer mark as expected, reaching a low of around 2293. There is no doubt that the short-selling force is in full control of the situation. In terms of recent trading, I have basically maintained the rhythm of shorting gold. Obviously, today is another day of making a lot of money.
Although gold started to rebound after reaching 2293, the rebound was extremely weak and the overall bearish sentiment on gold was strong. It is undeniable that after gold fell below 2300, some bargain hunting funds began to buy gold, so relatively speaking, there were some differences in the market. Then we must be extra careful in trading! It is not ruled out that there will be a temptation to go long in gold.
However, in the next transaction, since the gold price has fallen so much, it is impossible for gold to suddenly rebound without the stimulation of important positive news. The reversal is not so fast! So even if gold rebounds, it cannot be expected too high! So next I still tend to short gold after the rebound. As gold falls, the resistance area moves down. First, we mainly focus on the resistance in the 2310-2315 area; secondly, the resistance in the 2320-2325 area.
I share detailed trading strategies and trading signals every day. You can follow the channel at the bottom of the article to get detailed trading signals and learn trading logic. People who are already in it have already made a lot of money. Let us enjoy the journey of making money together. !
Continue to short gold after the reboundAfter gold rebounded to around 2337, it quickly fell back to around 2320, but gold did not continue to fall at present, which shows that the bears did not have an absolute advantage, and the bulls still have room for defense! Gold as a whole is still in a trend of shock adjustment.
Although the gold bears did not have an absolute advantage, they still had a slight advantage relatively speaking, so after gold fell to around 2320, I did not immediately go long on gold to prevent gold from breaking the shock trend and testing the support of the 2310-2300 area again. As gold fell again, the resistance area of gold moved down, and we first focused on the resistance area of 2330-2335. As gold pierced 2320 during the decline, gold should still have room to continue to fall.In addition, it cannot be ignored that gold has signs of forming a head and shoulders top in the short-term structure.so in terms of trading, I still tend to short gold.
I share detailed trading strategies and trading signals every day. You can follow the channel at the bottom of the article to get detailed trading signals and learn trading logic. People who are already in it have already made a lot of money. Let us enjoy the journey of making money together. !
XAUUSD:If you are long or short, what should you do next?
As of today, gold has not fluctuated much, and the resistance is mainly concentrated near 2336. From the chart, there are signs of head and shoulders. If formed, the next low point should be around 2312-2307.
In terms of trading ideas, maintain low longs for the time being. What needs to be paid attention to at present is the support of the range of 2321-2317, which can be used as the area to start longs with moderate risk.
Because if the market falls to around 2307, the probability of rebounding is relatively large, and the resistance of the rebound will also appear near 2318. Then the long orders added in the range of 2312-2307 will give some profits, and the longs near 2320 will suffer a small loss, but overall the transaction will end with profit.
Another strategy is to start short trading directly. If the support is effective, you can add orders in the range of 2336-2346, because from a medium-term perspective, I still tend to be short-selling, and the target is maintained in the area near 2268.
Therefore, no matter whether you are currently holding long or short positions, you don’t need to worry too much. As long as the account funds are sufficient, you can end up with a profit.
If you have any other questions, you can leave me a message.
XAUUSD - World gold prices retreatedGold closing night time had a rebound withinside the 233x place however nevertheless couldn't growth strongly beyond the charge variety I assessed the day past at 2335.
>Today I will retain to attend and change round faux regions that react to Ma and Support Resistance.
>Plan for Current fashion is down.
>Canh Sell Gold own circle of relatives round 2330>2334
SL 2336
City 2324>2316
>For Buy, these days I will wait to Buy Gold under the candlesticks and Buy Zone under 231x
Plan Buy Gold round 2318>2322
SL 2315
TP 2330>2335
With Today`s Market Rhythm, You Should Sell According to the Clearly Shown Market Trend. As for Rhythm Buy, you need to hold Vol safe 👌👌
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Gold bullion prices fell more than 1% last weekend, after the USD soared due to the impact of US business activities rising to the highest level in the past 6 months, and the US job market also gradually recovered.
Currently, investors are waiting for data estimating the first quarter's gross domestic product and the personal consumption price index report. "If the core PCE index increases sharply, this is not good news for gold, pushing the price of the precious metal down to 2,300 USD/ounce," Kelvin Wong added.
In a meeting earlier this week, Mary Daly - President of the San Francisco Fed Bank - said that the US Central Bank should not cut interest rates before policymakers assess inflation towards 2%. She also noted that the unemployment rate is increasing and becoming a risk to the US economy.
Gold rebound is weak, continue to short goldAfter the sharp drop on Friday, the gold market today returned to the shock and repair market. It is currently in a narrow range of 2330-2325, basically in the middle position, relatively speaking, without touching the resistance or support area, so up to now, there are not many opportunities to really participate in market transactions. Gold currently rebounded to around 2332, and did not touch the current 2340-2345 resistance area during the rebound, and then fell back, but did not touch the 2315-2310 short-term support area again during the decline. Therefore, in terms of trading, it is extremely confusing!
In general, gold is in the stage of rebound and repair, and the short force is still slightly dominant. Because the rebound of gold is weak, it has not even reached the vicinity of 2335. So in terms of trading, I am actually more inclined to short gold at high levels, but before gold falls below the support area of 2315-2310, gold bulls still have room for defense. So we must master the transaction price and rhythm in trading.
If gold falls back first later, we might as well try to go long on gold with the 2315-2310 area as support; and the key resistance area above is 2340-2345. If gold rebounds to the resistance area first, we can choose to short gold!
I share detailed trading strategies and trading signals every day. You can follow the channel at the bottom of the article to get detailed trading signals and learn trading logic. People who are already in it have already made a lot of money. Let us enjoy the journey of making money together. !
Gold prices increase again, the trend will fluctuate stronglyLast week, Friday, after confirming Gold and scanning SL, I will prevent trading. That day Gold launched greater than 30 charges to react at Zone 231x.
Currently, the Gold fashion is absolutely at the Sell side. With Today`s Main Trend Is Selling I Will Watch Gold's Reaction To Watch Gold Sell On The Range 2328>2332
SL 2335
TP 2320>231x
With a sturdy Exit Rate of greater than 30, the charge the previous day Rsi withinside the H1 body reached the oversold sector.
I will watch to shop for small Gold Vol in step with this Rsi sector round Zone 2317>2320
SL 2315
City 2328>2333
For Buy, I will visit Small Vol. And watch for the proper fashion to promote again. You can observe this fashion to trade
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Kitco News` ultra-modern weekly gold survey indicates that specialists are much less effective withinside the quick term, even as retail sentiment is optimistic.
Chantelle Schieven, an professional at Capitalight Research, informed Kitco that buyers want to put together for gold volatility withinside the close to future. Typically liquidity withinside the summer time season is lower, posing dangers to treasured metals.
The truth that buyers aren't positive approximately the subsequent pass of the United States Federal Reserve (Fed) is likewise probable to create volatility withinside the marketplace. Gold costs react to all statistics due to the fact the marketplace is doubtful approximately the Fed's direction.
This professional expects the Fed will loosen coverage in September to guide the economy, despite the fact that inflationary pressures continue to be high. Gold has set up a strong ground round 2,280 USD/ounce.
Gold seems to be withinside the doldrums of summer time season, however greater volatility continues to be possible, stated Daniel Pavilonis, senior commodities dealer at RJO Futures. USD stays high, hobby costs boom, which can also additionally placed strain on gold.
The marketplace is involved approximately the election and hobby costs in Europe. According to specialists, essentially political instability continues to be useful for gold however it's going to take some time longer.
Gold rate forecast
The marketplace is inquisitive about a few monetary information that impacts gold inclusive of the center PCE rate index file for May, June client self belief index, May domestic sales,...
According to the effects of a survey of 14 Wall Street analysts via way of means of Kitco News, five specialists assume gold will boom, five specialists expect a lower and four select to transport sideways.
Jim Wyckoff, senior analyst at Kitco, stated the goal rate boom for June is 2,406.7 USD/ounce.
Gold has plummeted, how to trade gold next?After reaching a high on Friday, it fell sharply, giving up all the gains this week. The daily candlestick chart closed with a big negative line, and the weekly line turned down. On Friday, I made the following tips in my private channel: Today is Friday, and it is not ruled out that the main market players took the opportunity to sell, under which circumstances, the gold price was suppressed. In addition, it is currently facing resistance in the 2365-2370 area in the short term. So what we have to do today is to stop chasing the gold price and avoid the risk of chasing more. In terms of trading, we can try to short gold.
Obviously, we won a big victory in Friday's trading! We shorted gold with the 2365-2370 area as resistance. Obviously, gold successfully hit the target price in a sharp decline. Personally, I made more than $50,000 in gold trading this week, and maintained a 100% winning rate in trading. Very good results!
Gold rebounded after hitting a low of 2317 on Friday. Obviously, the 2315-2310 area still has some support for gold. Therefore, we should not aggressively short gold in trading before gold falls below this area. If gold falls back first at the beginning of the week, we might as well try to go long on gold with the 2315-2310 area as support; the upper short-term resistance area is 2325-2330, and the second key resistance area is 2340-23456. If gold rebounds first and approaches any resistance area, we can choose to short gold!
I share detailed trading strategies and trading signals every day. You can follow the channel at the bottom of the article to get detailed trading signals and learn trading logic. People who are already in it have already made a lot of money. Let us enjoy the journey of making money together. !
GOLD (XAUUSD):Analysis For Next WeekMarket Direction-- Down⬇️
Level to Look Out--2285-2280 Targets
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XAUUSD 4H WEEKLY SELL PROJECTION 23.06.24Gold prices reversed course on Friday, moving down more than 1.70%. Economic data from the United States (US) spurred investors' reaction to pricing out fewer interest rate cuts by the Federal Reserve (Fed) due to the solid state of the economy. The XAU/USD trades at $2,317, below its opening price after hitting a daily high of $2,368.
The US economy continued to give mixed signals regarding its robustness. S&P Global revealed June’s Purchasing Managers Index (PMI) readings, which exceeded estimates and topped May’s data. However, the US housing sector continued to deteriorate after Existing Home Sales for May missed the mark and fell compared to April’s data.
On the PMI release, investors ditched Gold and bought the Greenback, which, according to the US Dollar Index (DXY), rose 0.14% at 105.80.
US data revealed during the week highlights uncertainty as some economic indicators reiterate that the economy is still solid. On the positive side, Industrial Production, S&P Flash PMIs, and Retail Sales advanced, though the latter were lower than the previous month.
Conversely, housing continued to deteriorate, while the jobs market, as measured by Americans filing unemployment claims, came in worse than expected. The data kept investors' chances of a September Fed rate cut alive.
Given the backdrop, Gold prices continued to drop, along with technical indicators, pointing to a correction following a three-month rally that began in March and lifted XAU/USD to its all-time high of $2,450.
The CME FedWatch Tool shows odds for a 25-basis-point Fed rate cut in September at 59.5%, up from 57.5% on Thursday. In the meantime, the December 2024 fed funds rate futures contract implies the Fed will cut 36 bps toward the end of the year.
XAUUSD:Entering the bearish zone, target around 2268
Gold rose sharply yesterday, breaking through the 2352 resistance in one fell swoop, and is currently located near 2360.
The chart is now entering the triangle consolidation stage. After the price breaks through 2352 and stabilizes above it, the resistance has turned into support. Then in the next consolidation stage, the first support to focus on is the area near 2352. The upper resistance is based on the previous high point, which is located near 2368, 2374, 2379 and 2383 respectively.
Today, we can focus on 2368-2374. If we enter this range, we can sell directly, and the probability of profit is more than 80%.
After the price reached above 2352, my overall trading strategy has changed from long to short, and I will do trend-based medium-term trading, with the target maintained near 2268, just like our previous short target near 2280 and the long target at 2352. It takes a time to complete, so if you want to follow, please be patient!
XAUUSD: Bearish trend, target 2268
Gold found short-term support near 2300 and rebounded again. It is currently around 2330. The large-scale indicators show that the bullish force has not been fully released. There is a high probability that there will be another wave of upward market in the US market today or early next week. The strong resistance will be mainly concentrated around 2352. At that time, the release of bullish force will end and enter the buffer period. If the indicator cannot form a bullish trend again, the gold price will return to below 2300. The next short target will be around 2268.
At present, my trading strategy will be mainly short.
Gold will Go Down by Symmetrical Triangle Pattern!!!Gold is moving in a Descending channel near the Resistance zone($2,337-$2,318) .
In terms of Classical Technical Analysis , Gold has managed to form a Symmetrical Triangle Pattern , which indicates the continuation of the Downward Trend .
I expect Gold to continue falling(Probably with two scenarios) after breaking the lower line of the Symmetrical Triangle Pattern , at least to the Support zone($2,337-$2,318) .
Gold Analyze ( XAUUSD ), 1-hour time frame ⏰.
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