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Xauusdtrend

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
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
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
Gold : When Could the Next Surge or Trend Begin...?At present, gold is experiencing a range-bound market, with the upper resistance level identified at approximately $2,754 and the lower support level around $2,710. This price consolidation indicates a period of indecision among traders, as they assess various economic factors and market dynamics. It is anticipated that a breakout from this range could occur soon, likely favoring an upward movement given the current market sentiment. This phase of consolidation is generally viewed as a positive development, as it allows for the accumulation of strength and provides a solid foundation for a potential new trend. Once a breakout occurs—whether to the upside or downside—it could signal a shift in market momentum, possibly leading to increased volatility and trading opportunities. Observing this range will be essential for traders looking to make informed decisions about entering or exiting positions in the gold market.
CAPITALCOM:GOLD
by Kartik_Elkunchwar
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
The price of gold currently fluctuates mainly in a rangeThe overall operating rhythm of gold is range-bound. It fell for two consecutive trading days last week. Although there was a retracement today, it continued to support the low of 2732. The bottom of gold continues to rely on the position near 2730, which has been supported many times in the early stage. The resistance above focuses on the 2745, 2755 and 2760 first-line suppression. If it encounters resistance, it will lighten up its positions and continue to see range fluctuations.
TVC:GOLDLong
by Donald-trading-star
Will gold bottom out and rebound due to non-agricultural data?Gold began to fall sharply after hitting around 2390, but it did not continue to fall today, and continued to rise. The highest test during the day was 2757.60, which also continued the overall bullish trend momentum. Although it is not a very strong performance, it does not show a weak performance pattern after the gold price temporarily encountered resistance. The lower support position of gold is near 2739, which is expected to bottom out and rebound, and the upper resistance level is 2771, 2782. In addition, data prices fluctuate greatly and quickly, so pay attention to risk control!
TVC:GOLDLong
by Donald-trading-star
XAUUSD: Head And Shoulders, Continue To SellYesterday, after experiencing a rebound, gold faced resistance again and pulled back, which is largely in line with our expectations, allowing everyone to achieve good profits. Currently, the short-term trend remains downward. As I mentioned yesterday, we are primarily watching the key support zone between 2718 and 2712. Today, gold touched this support area again and rebounded, but it did not break through the resistance of the downward trend. Therefore, our trading strategy continues to focus on selling. At the same time, we should closely monitor the performance of the support zone. If this support is effectively breached, I believe the subsequent decline could be significant, and breaking below 2700 is likely, with an expectation to reach below 2690. This encapsulates my main trading thoughts for the near future.
OANDA:XAUUSDShort
by Mia-Signal
XAUUSD: Key support 2718-2712As expected, gold rebounded today, reaching a high of around 2743, and then the price fell again. The shorts who entered at high levels made profits again, and everyone made good profits. The current price is still falling, and the upper resistance is dense. Shorts seem to have become the focus of short-term trading. From the perspective of pattern construction, there are signs of head and shoulders. If it is formed, then falling below 2700 will become inevitable. 2718-2712 is the support area that needs to be paid attention to.
OANDA:XAUUSDShort
by Mia-Signal
Gold has not yet reached its peakThe intraday trend of gold continued last week's slow rising trend, without a sharp and rapid rise, because the faster the rise, the more unstable the market trend will be, and it will easily peak later.Even if gold falls currently, there is very little room for retracement, and the correction time is very short. Bulls have full momentum, and gold has no upper limit for the time being! Gold has support near 2730, and the upper resistance area is near 2749, 2757.
TVC:GOLDLong
by Donald-trading-star
Gold Trading Strategy: Today's Gains and Future OutlookBefore Friday’s close, I chose to buy gold at 2719. Today, the opening price rose, and I closed positions at 2723 and 2725, selling within the 2723-2732 range. Currently, the order at 2732 has closed at 2725. The price has dropped to MA30, showing support, though not strong. I believe it will find better support at MA60 (2715). Before that, if a rebound occurs, I consider MA5 (2728) as a reference for resistance. Today has been another profitable day. I'm looking forward to the New York session, where market volatility will increase, and we’ll continue trading then!
FOREXCOM:XAUUSDShort
by Wealth_Waves
The golden high will continue to be refreshed!Gold’s rally is not over yet, and highs will continue to be refreshed! Due to the strong market trend of gold, there are not too many corrections and adjustments, and the strong rhythm during the day is expected to continue to release the upper space today, so sideways or declines are opportunities to go long. The lower support for gold is around 2702. Even if there is a slight decline, gold continues to be bullish, with the upper resistance near 2722 and 2730.
TVC:GOLDLong
by Donald-trading-star
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PEPPERSTONE:XAUUSDShort
by Thief_Trader