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NFP Data: Key Trading Opportunities for Gold Gold has returned to around 2520, with resistance still quite evident. With only one and a half hours left before the data release, market volatility is expected to remain limited. Based on yesterday's data, the likelihood of today’s data being bullish is higher. There are two trading strategies to consider: The first is to go long before the data release, but keep a tight stop-loss to guard against a surprise bearish outcome. If there’s a profit, close the position promptly. I estimate that if the data is bullish, the price could rise by approximately $15. The second approach is to wait for the data release and then enter a short position, aiming for a medium-term trade. Given that the current price is already at a relatively high level, even if there is a spike after the data release, it will be challenging for the price to maintain a sustained upward trend.
OANDA:XAUUSD
by Mia-Signal
XAUUSD: NFP data is coming, how to make a trading plan?Yesterday's ADP data showed an increase of 99,000 jobs, the lowest since January 2021, significantly lower than the expected 145,000 and the previous value of 122,000. This provided a significant positive for gold. Fortunately, the subsequent initial jobless claims and two PMI data were negative, which suppressed the rise of gold and prevented the expectation of a consistent recession in all economic data. It is precisely because of this that the price of gold fell to our buying range of 2500-2505 and then rose again, giving us the opportunity to buy at 2505 and take profits at 2516. There are less than two weeks before the Fed's September rate cut, whether it is a 25 basis point or 50 basis point cut. Today's NFP data will play a decisive role. Everyone must pay attention to it. The fluctuation may be very large at that time. Everyone knows the importance of the monthly NFP data, and I don't need to explain too much. Therefore, today's technical reference is not as significant as the data. Everything has to wait for the results of the data release, so it is difficult to judge. Given the uncertainty in today's market, I can't give you a specific trading strategy in advance, because it needs to be adjusted according to the actual market conditions. But I prefer to wait for a pullback and buy bullish, or make a trading plan based on the data performance after the data is released. I hope the above strategy is useful to everyone. In fact, you can be more cautious and give up today's trading, or make a trading plan based on the specific market trend after the data is released.
TVC:GOLDLong
by AntonyTP
21
SL Triggered, NFP Incoming: Will Gold Push to New Highs?Yesterday, I took a stop loss, which is, of course, a normal part of trading. What’s ironic, though, is that overall, I’m bullish on Gold. Even more ironic is the fact that in my Monday analysis, I mentioned that Gold would likely test the 2480 zone before continuing its upward trend. I even spotted the 'double Pin Bar formation' at the bottom, yet I remained short. Ultimately, my ego and the desire 'to be right'—thinking Gold would dip to the 2450 zone before reversing—got the best of me. Anyway, let’s move on to today’s analysis... As I mentioned earlier, after Gold fell into the significant support area around 2480 on Tuesday, the price bounced back to the upside. The following day, despite another wave of selling pressure, the price reversed again, leaving behind a 'Double Pin Bar' formation on the chart. Yesterday, the price broke above the 2505-2507 zone, which also confirmed a short-term double bottom formation. At the time of this article’s publication, the price stands at 2518, and the entire structure we’ve discussed is highly bullish. Looking ahead, as long as the 2505 level holds, the chances for a new all-time high are very strong. The measured target, should 2530 be breached, is 2590. Currently, I’m 'out of the market,' awaiting the NFP data for further clarification. I will update my analysis accordingly once the data is released.
OANDA:XAUUSD
by Mihai_Iacob
Long on Gold (XAUUSD) – 30-Minute TimeframeWe’ve initiated a long position on Gold (XAUUSD) on the 30-minute timeframe following a recent pullback. The current bullish momentum suggests a continuation towards the previous daily high, with the potential for a new all-time high. This trade is positioned ahead of upcoming impact news, which may favor gold. Key Levels: • Entry: The long position is entered after the pullback, with confirmation of bullish momentum resuming. • Target: The initial target is the previous daily high, with the possibility of extending towards a new all-time high if the bullish momentum continues. The news events scheduled from today to tomorrow could further drive this upward movement. • Stop-Loss: Placed below the recent support level to protect against downside risk and ensure a favorable risk-to-reward ratio. Rationale: The decision to go long is based on the strong bullish momentum observed after the recent pullback. Gold has shown resilience, and with upcoming economic data releases, there’s a potential for further upside. The previous daily high serves as a key resistance level, but if broken, it could pave the way for a new all-time high. Risk Management: As the trade progresses, consider moving the stop-loss to break even or closer to the entry point to lock in profits and minimize risk. Partial profits can be taken as the price approaches the initial target, allowing for a more conservative approach while still capitalizing on potential further gains. Additional Considerations: Monitor the upcoming economic news closely, as it may significantly impact the direction of gold. Be prepared to adjust the trade strategy based on how the market reacts to these events. Note: Please remember to adjust this trade idea according to your individual trading conditions, including position size, broker-specific price variations, and any relevant external factors. Every trader’s situation is unique, so it’s crucial to tailor your approach to your own risk tolerance and market environment.
OANDA:XAUUSDLong
by AR33_
2
XAUUSD | GOLDSPOT | New perspective | follow-up detailGold prices dipped into the $2,500 zone on Friday after the US Department of Commerce revealed that inflation remains subdued. The Personal Consumption Expenditures (PCE) Price Index held steady at 2.5% year-over-year in July, falling short of market expectations. This aligns with the Fed’s potential move to ease monetary policy in September, though the size of the rate cut remains uncertain. As we head into a busy week with the release of ISM Manufacturing and Services PMIs, jobs data, and the Balance of Trade, this video breaks down the potential for both buyers and sellers in the Gold market. Will the $2,500 level hold, or are we in for more volatility? Dive into the analysis to prepare for the week ahead! XAUUSD Technical Overview: This week, we're focusing on the $2,500 zone. This could be a make-or-break point. If gold stays above this zone: Bulls might maintain control, potentially pushing prices higher and setting up new highs. If gold drops below the zone, Bears might gain the upper hand in an attempt to retrace into the structure-support line of the ascending channel. Join me as we explore these factors and potential opportunities in the gold market. Like, subscribe, and hit the notification bell for the latest analysis and insights! 📌 Follow my journey as I map out the next moves in this dynamic market! #Gold #XAUUSD #Forex #FederalReserve #InterestRates #Inflation #TradingStrategy #MarketAnalysis #TechnicalAnalysis #Investing #ForexTrading #JacksonHole #Investment #TradingStrategy #FXTrading📺🔔💼 Disclaimer Notice: Trading in the foreign exchange market and other instruments carries a high risk and may not be suitable for all investors. The content provided here is for educational purposes only. Evaluate your financial situation and consult with a financial advisor before making any investment decisions. Past performance is not indicative of future results.
PEPPERSTONE:XAUUSD
by darcsherry
2
XAU/USD 06 September 2024 Intraday AnalysisH4 Analysis: Intraday expectation, analysis and bias remains the same as analysis dated 23 August 2024. -> Swing: Bullish. -> Internal: Bullish. Price has printed a bullish iBOS. After an iBOS (Internal Break of Structure) we expect a bearish pullback. Price has printed bearish CHoCH which indicates, but not confirms bearish pullback phase initiation Intraday expectation: Whilst price did continue bearish as part of bearish pullback phase, I am concerned that price has not, as yet, pulled back deep enough into either H4 demand zone or discount of 50% EQ, therefore, it is my view that price will seek further liquidity before a sustained bullish move to target weak internal high. H4 Chart: M15 Analysis: Intraday expectation, analysis and bias remains the same as analysis dated 05 September 2024. -> Swing: Bullish. -> Internal: Bearish. Due to several factors such as geopolitical tensions and many macroeconomic factors XAU continues to surge. Nonetheless, I will continue with systematic rules of analysis. Technically price should target weak internal low, therefore, my bias will remain unchanged until M15 candle break and close above swing high. Price has targeted weak internal low but the move was not sustained which indicates that price may be seeking further liquidity. We are seeing a secondary reaction to previous M15 supply zone. Intraday expectation: Price is in premium of internal 50% EQ. Price to target weak internal low. My bias will remain unchanged until and unless M15 candle close above strong swing high. M15 Chart:
OANDA:XAUUSD
by Khan_YIK
2
XAUUSD: The most likely time to set a new high is comingIn yesterday's article, we pointed out the importance of the support area of ​​2470-2480, and the trend of this decline is almost the same as that in August, so we bought bullish in this range, and the result was very good. Judging from the strength of the last rebound, the highest gold price tried to break through 2532. Similarly, I am optimistic that gold will test new highs again this time. In addition, there are many important economic data released today, and there will be a monthly NFP tomorrow. Once the data is good for gold, this time is most likely to refresh the historical high. From the 1H chart, we can see that yesterday's strong rebound has broken the downward trend, and today's Asian and European sessions have broken through the key resistance of 2500-2505 again. Now this range has turned from resistance to support. Trading strategy: Although we are very optimistic about gold today, we still cannot take the risk of chasing the rise, because once the gold price falls back to the support, there is a room for a decline of 10-15$. Therefore, today we'd better wait for the gold price to pull back to the 2500-2505 support area before buying. The target can be seen at 2520-2530, and after a new high, it can be seen at 2550.
TVC:GOLDLong
by AntonyTP
Gold- Stuck in a newly established range. Will support give awayYesterday, Gold once again touched the critical support zone between 2470-2475, and, as before, bulls managed to defend it, causing a price rebound. While at first glance this support appears solid, I believe it will eventually give way, with the price likely dropping to at least 2450. Of course, I could be wrong, which is why I’ve set my invalidation level in the 2515-2520 zone. My swing trade strategy remains unchanged: sell into rallies.
OANDA:XAUUSDShort
by Mihai_Iacob
8
XAUUSD: The recent low has been confirmed, buy boldlyYesterday, the price of gold bottomed out and rebounded after falling to 2473. Now the price of gold has come here again. I think the low point of this decline is likely to be here. From the 4H chart, we can see that the range of 2470-2480 is the key resistance level that has not been broken in the previous many attacks. After breaking, it has turned into support. At the same time, during the correction last month, it also played a key supporting role, and its support strength has been verified yesterday and just now. In addition, the important data ADP and NFP data this week will not be released until the next two days, so it is unlikely to fall below this key support level before the data. Trading strategy: Since we have determined the short-term low, the choice for us is very clear. Buy in the range of 2470-2480. The first target is 2500-2505, and the second is 2520-2530. I have bought at 2480 and added positions at 2475. Now I can wait for the rise with peace of mind.
OANDA:XAUUSDLong
by AntonyTP
4
XAU/USD 05 September 2024 Intraday AnalysisH4 Analysis: Intraday expectation, analysis and bias remains the same as analysis dated 23 August 2024. -> Swing: Bullish. -> Internal: Bullish. Price has printed a bullish iBOS. After an iBOS (Internal Break of Structure) we expect a bearish pullback. Price has printed bearish CHoCH which indicates, but not confirms bearish pullback phase initiation Intraday expectation: Whilst price did continue bearish as part of bearish pullback phase, I am concerned that price has not, as yet, pulled back deep enough into either H4 demand zone or discount of 50% EQ, therefore, it is my view that price will seek further liquidity before a sustained bullish move to target weak internal high. H4 Chart: M15 Analysis: -> Swing: Bullish. -> Internal: Bearish. I have made an update following my review of overall analysis. Bearish iBOS printed 22 August 2024 has subsequently lead me confirm the swing high which means M15 swing range is established. Due to several factors such as geopolitical tensions and many macroeconomic factors XAU continues to surge. Nonetheless, I will continue with systematic rules of analysis. Technically price should target weak internal low, therefore, my bias will remain unchanged until M15 candle break and close above swing high. Price has targeted weak internal low but the move was not sustained which indicates that price may be seeking further liquidity. We are seeing a secondary reaction to previous M15 supply zone. Intraday expectation: Price is in premium of internal 50% EQ. Price to target weak internal low. My bias will remain unchanged until and unless M15 candle close above strong swing high. M15 Chart:
OANDA:XAUUSD
by Khan_YIK
XAUUSD 5/9/2024 Will the uptrend continue? Looking at H1, we will see a complex correction in which the correction waves are intertwined, so I will move to the H4 time frame so that you can easily see the wave structure - Looking at H4, we have a Flat ABC correction structure, the above process looking at the present, we see that the wave has completed wave B and the current process is completing wave C. - The key to the problem is that we determine the end point of wave C to find a trading point. - Case 1: the price reaches the 2472 area and then increases sharply until now, we expect a recovery wave to the 2472 - 2469 area, then this price area will be the price area of ​​wave 2 in the new 5-wave increase structure and this is also our BUY target. - Case 2: the price continues to break 2472 to complete wave C, then the first target I aim for is the length of wave C equal to the length of wave A, then we have the first target at the 2467 - 2464 area and this is also our second BUY target area. - In the area above, I see the price area of ​​2515 - 2518 according to Volumeprofile, this area is the area where a large amount of supply was concentrated before, so when the price approaches this area, it needs to absorb all of this supply area before increasing further, so this price area continues to be our SELL target area. Trading Plan SELL ZONE: 2515 - 2518 SL: 2525 TP1: 2509 TP2: 2501 TP3: 2482 BUY ZONE: 2482 - 2479 SL: 2472 TP1: 2499 TP2: 2509 TP3: 2515 BUY ZONE: 2464 - 2467 SL: 2454 TP1: 2472 TP2: 2482 TP3: 2500
OANDA:XAUUSDLong
by DEEKOP
1
Thursday Market Analysis and SignalsGold fluctuated in a narrow range on Thursday and is currently trading around 2,500. Gold prices bottomed out and rebounded on Wednesday, hitting a nearly two-week low of 2,471 during the session, helped by a decline in the US dollar and US Treasury yields after a decrease in US job vacancies raised expectations that the Federal Reserve would cut interest rates by 50 basis points in September. Gold prices reversed their gains as a result. The slight slowdown in the US economy has led to a pullback in the US dollar and continued lower interest rates, which has supported the gold market. In addition, the ADP employment and initial jobless claims reports to be released on Thursday, as well as the NFP employment report on Friday, will also be closely watched, and the market will use them to look for clues to the Fed's path to rate cuts. Investors and Fed officials are keeping a close eye on the labor market after unemployment rose for four consecutive months, fueling concerns about a recession. Economists stick to their forecast that the Fed will cut interest rates by 25 basis points at its meeting on September 17-18. Much depends on the August employment report scheduled for release on Friday. Gold daily line formed a long lower shadow and closed up. The price came to the MA5 daily moving average. The lower side tested the middle track of the Bollinger band. The price stopped at the middle track 2471. The upper MA7 daily moving average 2500 mark focused on whether it could stabilize during the day. The short-term four-hour chart price stood on the middle track of the Bollinger band. The RSI indicator adjusted the middle axis. The moving average opened upward. The technical side was bullish. The overall rhythm rose and fell after a slight adjustment during the day. If the data is bearish, the daily line will again show a long and short cycle. Trading strategy: 2480-2485 long, stop loss 2473, target 2500-2510; 2505-2510 short, stop loss 2516, target 2490-2480; For more signals and analysis, please check my profile
OANDA:XAUUSDShort
by Jun-goldFX
1
GOLD BULLISH OUTLOOK The technical indicators suggest a strong buy signal, reflecting bullish sentiment. This is supported by moving averages, which also point towards buying opportunities. Despite some fluctuations, with the day's range between $2,472.02 and $2,500.20, gold is showing resilience around the $2,496 level. The market is currently responding to economic data and broader market sentiment, which could keep gold prices buoyant in the short term. Gold is likely to maintain its upward momentum today, potentially testing higher resistance levels. However, watch for any sudden changes due to economic news or shifts in market sentiment.
OANDA:XAUUSDLong
by BELLATRIXFX
2
XAUUSD: 4/8 Today's Market Analysis and StrategyGold technical analysis Daily resistance 2550, support below 2450 Four-hour resistance 2496, support below 2450 Gold operation suggestions: After a series of shocks, the short position of gold finally exerted its strength yesterday, and the lowest price in the US market reached around 2473. The Labor Day holiday on Monday also directly stimulated the outbreak of long and short energy in the later period. This week is also the NFP data week. With the release of NFP data, the volatility and long and short trends of gold in the later period will also change further. The previous low point is maintained at 2470, and yesterday's retracement touched the lowest level near 2473 and rebounded, but did not break down. Then this position can still bring certain support to the bulls, and the key suppression point above is maintained near the top and bottom conversion area of ​​2507. Before NFP is released, it is still expected to be short in the short term and cannot change its trend. From the 4-hour analysis, the current upper resistance focuses on the 2496-2505 line. The pullback continues to be bearish based on this position. The short-term gold price long and short strength dividing line focuses on the 2515 mark. Before the daily level breaks through and stands on this position, any rebound is a short-selling opportunity, and keep trading with the trend. SELL:2496near SL:2500 SELL:2508near SL:2511 SELL:2525near SL:2529 The strategy only provides trading directions. Since it is not a real-time trading guide, please use a small SL to test the signal.
OANDA:XAUUSDShort
by ActuaryJ
1