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Xauusdsetup

Gold Poised to Break $2,100 Amidst Strong Technical TrendsFrom a short-term technical perspective, the price of gold continues to align with an upward trend amidst positive indicators. Gold has successfully breached the resistance level of the upward trend line at $2,080, although a daily close above this level is essential to extend the upward trend to an all-time high of $2,144. Gold buyers will encounter robust resistance levels at $2,100 and $2,120 beforehand. The 14-day Relative Strength Index (RSI) is pointing north along the midline, adding confidence to the latest uptrend. Any potential decline in gold prices could find initial support at the recent low of $2,061, below which adjustments may extend towards $2,050. The ultimate defensive line for gold buyers is envisaged at the 21-day Simple Moving Average (SMA) positioned at $2,035. In summary, gold's technical outlook remains bullish, with the need for a sustained break above $2,080 and subsequent challenges at $2,100 and $2,120. The RSI signals positive momentum, while potential corrections have support levels at $2,061 and $2,050, with the 21-day SMA acting as a final defense line at $2,035.
FXOPEN:XAUUSD
by JackieBrown1803
19
#XAUUSD: Gold can still shock all of us with a sudden move! Dear traders, As expected we are seeing some strange move within the market due to the low volume, based on our last chart price did fall but failed to continue the selling momentum and idea hit breakeven. In here, there are two possibilities that price can go first from sellers bias we think price still can drop from 2040$ area which will remain crucial, though, looking at how price moved throughout today. It shows bulls are still within the market and bullish momentum was significant. So it would not be surprising if price breakthrough 2060$ region once again. Please like and share!
OANDA:XAUUSD
by Setupsfx_
3
XAUUSD Imminent Shorts down towards 2035.000 or lowerThis week's gold forecast I will be looking for shorts to the downside as it has entered my 5hr POI that I have marked out previously. As of now I am expecting price to continue dropping towards the 2035 mark or possibly lower to take the trend line below it. As price has already distributed within my supply I will be looking to sell to target the liquidity below as well as a near by demand zone for me to then buy back up again. As price is going to start off really slow on Monday I will be anticipating this move to potentially happen later on the week. Confluences for Gold Sells are as follows: - Tapped into a 5hr supply zone that has caused CHOCH to the down side. - Wyckoff distribution has been formed and validated via a CHOCH on the 15min. - Lots of liquidity left below to target in the form of Asian lows and trend line liquidity. - Barely any reversal magnets above my POI which makes my setup more favourable for sells. - In order for price to keep going up it must come down to tap into some sort of demand level. - Rejection candle within our zone on the higher time frame reinforces that bullish pressure has now become exhausted. P.S. While my current confluences strongly favour this temporary short, we must acknowledge that the overall bias of this market is still heavily bullish. This suggests that it's advisable to secure our profits at a reasonable level before considering buy opportunities once more. If you found this post informative, don't forget to give it a like and share your thoughts in the comments below!
OANDA:XAUUSDShort
by Hassan_fx
XAUUSD remains high, future moves from FED ? As expected, gold reacted with a sharp decline and as soon as it reached the 2047 resistance zone yesterday, the price fell 20 prices to a low of 2027 But currently there is not much difference in the pressure from buyers and sellers. Gold is likely to continue its sideways movement today and then move slightly higher before a new trend develops. Can be purchased at a short price of 5 to 10 points at a range of 203 times. We wish retailers an effective translation strategy. -ENTRY BUY: 2028-2033 (STOP: 2023) -Target date: 2045 ---------------------------------------------- Last night, the world's largest economy announced that its December consumer confidence index jumped to 110 points from 101 points in November, significantly higher than the 103 point estimate. US home sales also increased from 3.79 million square meters in October to 3.82 million square meters in November, well above expectations of 3.78 million square meters. The European Economic Area also announced that its consumer confidence index rose significantly from -16.9 points in November to -15.1 points in December, exceeding the previous estimate of -16.5 points. According to technical analysis, the consumer confidence index is a leading indicator that can predict consumer spending, which plays an important role in overall economic activity. Higher numbers indicate higher consumer optimism. This will help the manufacturing industry recover further. This information caused the US dollar to soar in the international payments basket. Specifically, the dollar index, which measures the dollar's strength in the international payments basket, reversed at 6:22 a.m. (Hanoi time) this morning, rising 0.23% to 102,400 points. Experts say investors have booked profits in gold after the past two uptrends as the economy showed positive signs and the US dollar price rose. SPDR, the world's largest gold trust, also sold a net 2.02 tonnes of gold in its last trade on December 20th. Experts warn that gold prices are under pressure from economic information from major countries. As more information continues to be revealed in the final week of December, investors should be careful about buying at high prices. With positive information, global gold prices could still remain below the $2,000/oz threshold.
OANDA:XAUUSDLong
by TheLeader_WOLF
XAUUSD Shorts from 2060.000 down towards 1980.000Gold bias for this idea is for a bearish move to take place around the 2060 mark where a 5hr supply zone lies. I am anticipating a bit more upward movement in the form of distribution, my plan is to execute sell positions once the price enters my Point of Interest (POI), intending to fill the significant imbalance left by the FOMC news event. Additionally, there are indications of diminishing bullish pressure on the lower time frame, signalling a potential reversal. Furthermore, considering that the price has reached all-time highs (a major liquidity point), it has accumulated sufficient liquidity to facilitate a downward shift. This is reinforced by the observed change in price character on the higher time frame, providing additional confirmation that selling positions are becoming more viable. Confluences for XAUUSD Sells are as follows: - Price has taken ATHs a major liquidity point enough for price to trigger a reversal. - There's a major POI (5hr supply zone) In which I expect a distribution to take place. - There's loads of liquidity left to the downside that needs to get taken as well as major imbalances that was left from the previous FOMC event. - Bullish pressure is now getting exhausted on lower time frames in which I can expect potential sell offs. - In order for price to keep going in a bullish trend price must retrace and make a correction. P.S. Keep in mind that despite the current bearish bias, my overall outlook on this pair remains bullish, and I perceive this downward movement as a temporary one. Following this descent, my intention is to explore buying opportunities around the 1980.000 area, where a new 6-hour demand zone has emerged. Additionally, I anticipate a subsequent price rally, surpassing the recent highs, making buying positions a favourable bias in general. I would love to hear you guys opinion and thoughts about gold, so be sure to drop a comment below!
OANDA:XAUUSDShort
by Hassan_fx
2