Xauusdupdates
Analysis of gold price trend on FridayGold fluctuated in a narrow range in the Asian market on Friday, and is currently trading around 2364. On Thursday, the overall trend remained in a narrow range, while investors digested the remarks of Federal Reserve Chairman Jerome Powell and looked forward to the US NFP employment data released later this week for more signals on US interest rate cuts.
The latest US employment data such as ADP and initial jobless claims in May performed poorly. The market generally expects that the US job market may slow down, which is expected to provide support for gold prices before the data is released. However, Israel will send a delegation to negotiate with Hamas to release the hostages, and the geopolitical situation is concerned; US job vacancy data performed strongly, and even if the non-agricultural performance is poor, it may be "buy is expected, sell is a fact", and it is still necessary to beware of the possibility of a sharp drop in gold prices.
Gold price has moved slightly by 10 USD per day, and it is obvious that the bullish momentum has weakened. In the past three months, the price of gold has been adjusting and even has a peaking pattern. Everything depends on the direction given by today's NFP employment data.
Asian trading strategy:
Short-term gold 2350-2353 long, stop loss 2342, target 2370-2380;
Short-term gold 2368-2370 short, stop loss 2379, target 2350-2360;
Note: The above strategy was updated on July 5. This strategy is an Asian strategy, please pay attention to the validity period of the strategy release. Trading will stop at NY time.
XAU/USD 05 June 2024 Intraday AnalysisH4 Analysis:
Analysis/bias remains the same as yesterdays analysis dated 04 June 2024
-> Swing: Bullish.
-> Internal: Bearish.
Price has continued bullish indicating that bullish pullback phase is incomplete.
Internal structure remains bearish until strong internal high is taken out.
Intraday expectation: Price to react at 50% EQ of the swing structure, which is indicated in black or H4 supply levels before targeting weak internal low.
H4 Chart:
M15 Analysis:
-> Swing: Bullish.
-> Internal: Bullish.
Price printed as per yesterday's intraday expectation and printed a further bullish iBOS where price targeted the weak internal high.
Bearish CHoCH has been printed which indicates bearish pullback initiation.
Intraday expectation: Internal structure is bullish, therefore, price to react at either discount zone of 50% EQ or M15 demand zone before targeting weak internal high.
Alternative scenario is price to target strong internal low as we need to be mindful that H4 is in bearish pullback phase and we are showing reaction from H4 supply zone.
M15 Chart:
XAUUSD July 5, 2024 waiting for a reasonable buy point
Yesterday was Bank Holiday, so low market liquidity led to gold prices sideways in a narrow fluctuation range.
The price targets have not changed from the previous plan, the only difference is that the price has touched the demand zone that we have identified and turned up. This suggests that wave 4 may have completed and The price will continue to increase, completing wave 5
- Today there is news about Nonfarm, if the price continues to compress within this narrow range, then after the news it is possible that the price will complete the wave 5 target and then enter a correction. If the price reaches the target of wave 5 before the news is released, then after the news is released, the price will have a downward correction.
- The target price range that I want to buy is the price range 2339 to 2342. This is the expected price adjustment range after wave 5 completes.
XAUUSD: 1/7 Analysis and StrategyGold technical analysis
Daily resistance 2340-70, support below 2277
Four-hour resistance 2340, support below 2315-2277
Gold operation suggestions:
From the analysis of the 4-hour line, today's support below is around 2315, and the upper short-term pressure is around 2335-40. First, sell high and buy low in this range. In the short term, the gold price is likely to continue to fluctuate widely.
SELL:2340near SL:2343
BUY:2315near SL:2312
Technical analysis only provides trading direction!
XAUUSD - hanging high above the 236x threshold
Gold from past to present I see that Plan Sideway is reacting around 6>8 prices.
There's a lot of news on Friday, so I think Gold is easy to scan in both directions. If anyone trades today's news, you should wait for the news to come out before trading.
Today I Will Still Watch To Buy Gold According To The Trend Of MA.
> Everyone please refer to Buy Gold around 2354>2358
SL 2350
TP 2366>237x
This plan If Gold cannot increase strongly but still reacts in the Sideway range, then sell Gold right at the candlestick 2365>2366.
SL 2368
TP 2360>2354
For Selling, you should go for a small volume. The main thing is to Buy according to the Trend, everyone
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--World gold costs did now no longer range a great deal throughout the United States Independence Day holiday. The marketplace is awaiting US non-farm payroll facts to be launched today. Market analyst Christopher Lewis of FX Empire stated that this record could have a massive effect on gold costs withinside the future. Lewis stated that if gold costs fall after the record, buyers ought to see it as a shopping for possibility due to the fact this valuable metallic is in an uptrend and will reach $2,400/ounce or greater way to the boost. through sturdy call for from principal banks and shelter-in-area shopping for because of issues approximately geopolitical tensions.
Previously, on July 3, the United States introduced a brand new non-public area employment record in June of 150,000 jobs, down from 157,000 jobs in May and decrease than expectancies of 160,000 jobs. Initial unemployment gain programs final week have been 238,000, better than the 235,000 formerly forecast and better than the 233,000 performed the preceding week.
Weak non-public employment facts precipitated the USD to fall sharply, assisting gold costs to upward push to a 2-week excessive yesterday.
India's Love Affair with Gold Loses Its Luster as Prices SurgeIndia, a nation long synonymous with its insatiable appetite for gold, is witnessing a shift as record-high prices force consumers to reconsider their love for the precious metal. Shops like Shaik Ameen's Gold Palace in Bengaluru are experiencing a slowdown in pre-wedding purchases, a time typically marked by a surge in gold buying.
Traditionally, gold has held immense cultural and social significance in India. It's seen as a symbol of prosperity, plays a vital role in weddings and festivals, and serves as a form of secure investment, particularly for rural populations. This deep-rooted affinity has earned India the title of the world's largest gold consumer.
However, recent price hikes are dampening this enthusiasm. The global price of gold has been on an upward trajectory, driven by factors like geopolitical tensions and inflation concerns. This surge has translated into near-record highs in the Indian market, putting a strain on household budgets.
The impact is evident in stores like Ameen's. Shopkeepers report a decline in customer footfall and a shift in purchasing patterns. Customers are opting for smaller quantities or delaying purchases altogether.
This trend extends beyond just everyday consumers. Even brides, who traditionally adorn themselves in elaborate gold jewelry for their wedding ceremonies, are exploring alternatives. Some are turning to artificial jewellery, which offers a more affordable way to achieve a similar look.
Despite the slowdown, it's important to note that the impact isn't uniform across all segments of society. Wealthier individuals seem less deterred by the high prices. Their strong financial standing allows them to continue indulging in larger gold purchases.
This disparity highlights the socioeconomic factors at play. For many middle-class and low-income families, gold purchases are often meticulously planned and saved for. Rising prices can significantly disrupt these plans, forcing them to cut back or postpone purchases entirely.
The implications of this shift in consumer behavior are far-reaching. It could lead to a decline in gold imports, which have a significant impact on India's trade balance. It could also influence the fortunes of domestic jewellers, who may have to adapt their offerings to cater to a more price-sensitive market.
Looking ahead, the future of India's gold demand remains uncertain. Much will depend on the trajectory of global gold prices. If prices stabilize or decline, consumer sentiment could rebound. However, if the current upward trend continues, the love affair between India and gold may face a long-term strain.
Here are some additional points to consider:
• The rise of alternative investment options like digital gold could also be a contributing factor to the changing dynamics of the Indian gold market.
• The Indian government's policies on gold imports and duties can also influence domestic prices and consumer behavior.
• The cultural significance of gold in India may still ensure a continued demand, albeit at a potentially lower level.
Overall, India's relationship with gold is undergoing a period of transition. While the love affair may not be entirely over, the current economic climate is forcing a reevaluation of this deeply ingrained tradition.
Gold short entry 2660.00 - 2365.00XAUUSD ( Update..! )
Intraday Sell setup short
GOLD SELL LIMIT AT 2360.00 - 2365.00
TAKE PROFIT 1 : 2350
TAKE PROFIT 2 : 2340
TAKE PROFIT 3 : 2335
STOP LOSS 2374
When hitting targets ;
Set Break-Even after first target.
Partial close at minimum 40-50 pips.
Implement minimum 2 layers in the zone
Please follow a sensible and responsible money management strategy when trading. You should never invest money that you cannot afford to lose. Risk 3% of capital.
XAU/USD 04 June 2024 Intraday AnalysisH4 Analysis:
Analysis/bias remains the same as yesterdays analysis dated 03 June 2024
-> Swing: Bullish.
-> Internal: Bearish.
Price has continued bullish indicating that bullish pullback phase is incomplete.
Internal structure remains bearish until strong internal high is taken out.
Intraday expectation: Price to react at 50% EQ of the swing structure, which is indicated in black or H4 supply levels before targeting weak internal low.
H4 Chart:
M15 Analysis:
-> Swing: Bullish.
-> Internal: Bullish.
Price printed a further bullish iBOS.
Bearish CHoCH has been printed after reacting from H4 supply zone. This indicates, but not confirms bearish pullback initiation.
Price has reacted from discount of 50% EQ.
Intraday expectation: Internal structure is bullish, therefore, price to react at either discount of 50% EQ or M15 demand zone before targeting weak internal high.
Alternative scenario is price to target strong internal low as we need to be mindful that H4 is in bearish pullback phase and we are showing reaction from H4 supply zone.
M15 Chart:
XAUUSD July 4, 2024 will the price still decrease?We expected a shakeout to enter the line but the price did not create this spring and completed the Flat correction pattern with wave c equal to wave a. Then the price increased sharply to the 2365 area
- The completion of wave c means that wave 2 has also completed. Now the price enters wave 3
- The target of wave 3 is at least fibo 1.618% of purple wave 1, so we have the minimum expectation at the price range of 2395
- Looking at the smaller black trend, the price has gone through 4 waves 1234 and we wait for wave 5 to complete and then the price will have a correction before continuing to increase.
- My suggested buying zone is the price range 2342 - 2340, which is the expected target of the completed major correction.
XAUUSDGold prices are experiencing a downward trend as they enter the 5th Elliott wave in a bearish movement. The recent touch of the resistance level within a Rectangular Consolidation pattern has signaled this decline. Following the completion of the 4th Elliott wave, the market's bearish momentum is expected to continue.
XAUUSD - Sharp reversalSELL 2360-2365
SL 2370
TP 2340 - 2330- 2300
---------------------------
BUY when break 2372
TP 2380-2400
SL 2360
---------------------------
World gold rate stood at 2,361 USD/ounce, a pointy boom of 32 USD/ounce as compared to the equal hour the previous day morning. Converted on the financial institution change fee except for taxes and fees, the arena gold rate is ready 72.five million VND/tael, approximately 4.forty eight million VND/tael decrease than the SJC gold rate sold.
World gold charges jumped greater than 1% for the duration of the session, attaining the very best stage withinside the beyond 2 weeks as new facts strengthened forecasts that the United States Federal Reserve (Fed) will lessen hobby fees in September. The marketplace is presently having a bet at the opportunity The opportunity of the Fed slicing hobby fees in September is 68%.
Last week, the variety of programs for US unemployment blessings elevated for the primary time. US provider enterprise hobby in June fell to a four-12 months low amid a pointy drop in orders. Experts say that that is a sign that the economic system is dropping momentum on the quit of the second one quarter.
At the maximum latest assembly in June, Fed officers admitted that the United States economic system became slowing down and "rate stress is easing". Investors are presently anticipating the non-farm payroll record to be launched this Friday to higher examine the opportunity of this company adjusting hobby fees.
XAUUSD Gold Technical Analysis and Trade Idea - Trading A Range👉🔍 XAUUSD is curently rangebound and we are looking for an opportunity into the London Open. Additionally, we cover essential topics such as trend analysis, market structure, price action, and other key aspects of technical analysis. Please remember, this video is for educational purposes only and does not constitute financial advice. 📊✅
Continue sideways ! Gold price stuck below $2350⭐️ Smart investment, Strong finance
⭐️ GOLDEN INFORMATION:
Gold price (XAU/USD) continues with its struggle to make it through the 50-day Simple Moving Average (SMA) pivotal resistance and trades with a mild negative bias during the Asian session on Wednesday. The commodity, however, remains confined in a familiar range held over the past week or so as traders prefer to wait for more cues about the Federal Reserve's (Fed) policy path before placing fresh directional bets. Hence, the focus remains on the release of the FOMC meeting minutes later today. This, along with the Nonfarm Payrolls (NFP) report on Friday, might influence expectations about the Fed's future policy decisions, which will drive the US Dollar (USD) and provide a fresh impetus to the non-yielding yellow metal.
⭐️ Personal comments NOVA:
Gold price is still stuck in the fluctuating range of $2310 - $2350, waiting sideways for NF news this week
⭐️ SET UP GOLD PRICE:
🔥BUY GOLD zone: $2304 - $2302 SL $2297
TP1: $2310
TP2: $2320
TP3: $2330
🔥SELL GOLD zone: $2348 - $2350 SL $2355
TP1: $2340
TP2: $2330
TP3: $2320
⭐️ 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
GOLD Hits $2,300 Support Zone as Fed Officials Maintain Hawkish 🟡 Gold pushed lower to around $2,300 on Wednesday as investors weighed comments from Federal Reserve (Fed) officials, who remain hesitant to cut interest rates amid persistently high inflation. This reluctance by the Fed to reduce rates has exerted downward pressure on gold prices.
However, the Commitment of Traders (COT) report reveals strong institutional interest in gold, indicating a substantial long position. Additionally, the price has reached a significant demand area that aligns with the 78.6% Fibonacci retracement level at the $2,300 support zone. This convergence of factors is further supported by a divergence, suggesting a potential bullish reversal.
Given these conditions, we are considering adding another long position in gold from this point, anticipating a rebound from the current support level.
XAU/USD 03 June 2024 Intraday AnalysisH4 Analysis:
-> Swing: Bullish.
-> Internal: Bearish.
Price has continued bullish indicating that bullish pullback phase is incomplete.
Internal structure remains bearish until strong internal high is taken out.
Intraday expectation: Price to react at 50% EQ of the swing structure, which is indicated in black or H4 supply levels before targeting weak internal low.
H4 Chart:
M15 Analysis:
-> Swing: Bullish.
-> Internal: Bullish.
Price again printed, as per yesterday's intraday expectation, targeted the weak internal high and printed a further bullish iBOS.
After an iBOS we expect a pullback which seems to be currently underway.
Bearish CHoCH will indicate, but not confirm bearish pullback initiation which is marked with a blue dotted line.
50% EQ, M15 demand and Bearish CHoCH are all positioned closely.
Intraday expectation: Internal structure is bullish, therefore, price to react at either discount of 50% EQ or M15 demand zone before targeting weak internal high.
Alternative scenario is price to target strong internal low as we need to be mindful that H4 is in bearish pullback phase.
M15 Chart: