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Gold could drop under 2600 againFor most of last week, gold exhibited choppy price action. As outlined in my Thursday analysis: "Gold could recover Monday's losses in a choppy manner, forming a flag pattern with resistance around 2660." This prediction held true in the end and, after a brief spike above the resistance level, gold began its decline. At the time of writing, the price is trading at 2624, just above short-term support. Looking ahead, I anticipate this support level will break, paving the way for a drop toward 2590 and 2575- a level that aligns with the measured target of the flag pattern. My strategy remains to sell rallies, using last Friday's high as a key resistance point for positioning.
OANDA:XAUUSDShort
by Mihai_Iacob
5
XAU/USD 03 December 2024 Intraday AnalysisH4 Analysis: -> Swing: Bearish. -> Internal: Bullish. Bias/analysis remains the same as analysis dated 25 November 2024. Price Action Analysis: As mentioned in yesterday's analysis dated 24 November 2024, whereby price was expected to print a bearish CHoCH. This is how price printed. Currently, price is trading within an established internal range. Intraday Expectation: Price is anticipated to trade down to either discount of internal 50% EQ, which is marked in blue, or H4 demand zone before targeting weak internal high priced at 2,721.420. Note: With the Federal Reserve's dovish stance and persisting geopolitical uncertainties, heightened volatility in Gold is expected to continue. Traders should proceed with caution and adjust risk management strategies in this high-volatility environment. H4 Chart: M15 Analysis: -> Swing: Bearish. -> Internal: Bearish. Today's analysis and bias will remain the same as analysis dated 26 November 2024. Price Action Analysis: Intraday expectation and analysis dated 25 November 2024 printed as anticipated, with price successfully printing a bearish iBOS after targeting the weak internal low. A correction from yesterday's intraday expectation: instead of targeting the weak internal high, price was expected to target the weak internal low. Price has since printed a bullish CHoCH, indicating, but not confirming, bullish pullback phase. We are now trading within an established internal range. Intraday Expectation: Price is anticipated to trade up to either the internal 50% EQ or the M15 supply zone before targeting the weak internal low at 2,605.310. Alternative Scenario: The H4 timeframe has printed a bearish CHoCH, indicating the initiation of a bearish pullback phase coupled with the fact that H4 TF is now trading in discount of internal 50%. However, this suggests that bearish momentum on M15 may face limitations as the broader H4 phase unfolds. Note: Given the Federal Reserve's dovish stance and persistent geopolitical tensions, volatility in Gold prices is likely to remain elevated. Traders should remain cautious and prepared for potential price whipsaws in this high-volatility environment. M15 Chart:
OANDA:XAUUSD
by Khan_YIK
XAUUSD: 3/12 Market Analysis and StrategyGold technical analysis Daily resistance 2700, support below 2580 Four-hour resistance 2652, support below 2623 Gold operation suggestions: From the current market trend, yesterday it was blocked by 2652 and fell back, with the lowest point reaching 2633. Today it fell to 2634, holding the support point to stop the decline and rebound. It has now come to 2650, approaching the 2652 suppression level again. If it holds 2652 and participates in short selling, it will accelerate upward to 2660-66 area if it breaks 2652. At that time, it will need to step back and do more, and then pay attention to the 2666 suppression level to be bearish. The overall situation is a tug-of-war market. Pay attention to the stabilization of the 2633 support point. European and American gold operation ideas: Gold 2651near short; pay attention to whether 2634 can get support, you can be bullish; if it breaks 2652, it will step back near 2646 and continue to do more, with the target above 2660, and it can be sold if it touches 2664near. Today's market is complicated SELL:2664near BUY:2634near BUY:2623near The strategy only provides trading directions. Since it is not a real-time trading guide, please use a small SL to test the signal.
TVC:GOLDShort
by ActuaryJ
Gold Price Analysis: Key Support at 2635Today, we made two successful long trades on gold. The first target was 2635-2643, and the second target was around 2650. Both targets were hit, and we enjoyed substantial profits. Now, gold has retreated below 2640, with weak support around 2635. If the price can stabilize around this support level, an upward move is expected. However, if the price breaks below this level, we could see a head and shoulders pattern forming, and the price might return to around 2625. Currently, the market is experiencing low volatility, and the key trading opportunities for this week will likely come between Wednesday and Friday. A large amount of data will be released, which could lead to significant fluctuations in gold prices, offering even more favorable opportunities for trading.
OANDA:XAUUSDShort
by TradingGuide_Dean
XAUUSD: 2/12 Today's Market Analysis and StrategyGold technical analysis Daily resistance 2700, support below 2580 Four-hour resistance 2653, support below 2627 Gold operation suggestions: Last Friday, the technical side of gold prices quickly hit the 2666 mark in the Asian and European sessions and fluctuated sideways. The US session was suppressed and closed below the 2660 mark. Today, the gold price fell directly at the opening of the Asian session and broke through the 2650 mark and continued to fall back to the vicinity of 2640. After rebounding for two consecutive trading days last week, the short-term gold price entered a suppressed adjustment pattern. At present, from the 4-hour trend, the pattern of continuous rise in gold in the early stage has basically ended, and the short position will continue to ferment. From the perspective of the market, after the gold price fell below 2645, the original support point turned into the first reference pressure. Relying on this position, the main short position continued to fall downward. The lower target position first focused on whether the 2627 mark could be broken. If the 1H line breaks through, it can be further shorted. If 2627 is not broken, it will still maintain a volatile operation. The short-term watershed between long and short strength is 2639. Before the daily level breaks through and stands at this position, any pullback is a short-selling opportunity. Keep participating in the trend SELL: 2639near SL: 2643 SELL: 2624near SL: 2627 The strategy only provides trading directions. Since it is not a real-time trading guide, please use a small SL to test the signal.
TVC:GOLDShort
by ActuaryJ
Gold Market Analysis 12/2At the start of the Asian session today, gold continued its downward movement, reaching back to the previous low near 2620. Typically, previous lows often provide some support. Today, we have seen multiple candlesticks with lower wicks at this level, indicating that the support is holding well at the moment. Key Levels to Watch: Support: 2615 remains a key level of support. If this level holds, a rebound is expected. Resistance: The resistance zone is between 2635-2643. Watch for potential price action around this area, as it could signal either a break higher or a reversal. Market Outlook: Given the current support at 2620 and the signs of a potential rebound, I expect a move higher, with the next target being the 2635-2643 resistance zone.
OANDA:XAUUSDLong
by TradingGuide_Dean
Gold Hits 2635 Target, Next Focus on 2646 ResistanceDuring today's Asian session, I shared a long strategy with a target of 2635-2643. Currently, the price has risen above 2635, and we have secured our first profit of the week. Congratulations to all who followed the strategy! The price is still on an upward trend, and a rise to around 2640 should be achievable. At that point, we need to pay attention to the resistance near 2646 and observe if it breaks. A slight pullback is expected, with key support around 2632-2628. If the support holds, we could see the price push back above 2650.
OANDA:XAUUSDLong
by TradingGuide_Dean
XAU/USD 02 December 2024 Intraday AnalysisH4 Analysis: -> Swing: Bearish. -> Internal: Bullish. Bias/analysis remains the same as analysis dated 25 November 2024. Price Action Analysis: As mentioned in yesterday's analysis dated 24 November 2024, whereby price was expected to print a bearish CHoCH. This is how price printed. Currently, price is trading within an established internal range. Intraday Expectation: Price is anticipated to trade down to either discount of internal 50% EQ, which is marked in blue, or H4 demand zone before targeting weak internal high priced at 2,721.420. Note: With the Federal Reserve's dovish stance and persisting geopolitical uncertainties, heightened volatility in Gold is expected to continue. Traders should proceed with caution and adjust risk management strategies in this high-volatility environment. H4 Chart: M15 Analysis: -> Swing: Bearish. -> Internal: Bearish. Today's analysis and bias will remain the same as analysis dated 26 November 2024. Price Action Analysis: Intraday expectation and analysis dated 25 November 2024 printed as anticipated, with price successfully printing a bearish iBOS after targeting the weak internal low. A correction from yesterday's intraday expectation: instead of targeting the weak internal high, price was expected to target the weak internal low. Price has since printed a bullish CHoCH, indicating, but not confirming, bullish pullback phase. We are now trading within an established internal range. Intraday Expectation: Price is anticipated to trade up to either the internal 50% EQ or the M15 supply zone before targeting the weak internal low at 2,605.310. Alternative Scenario: The H4 timeframe has printed a bearish CHoCH, indicating the initiation of a bearish pullback phase coupled with the fact that H4 TF is now trading in discount of internal 50%. However, this suggests that bearish momentum on M15 may face limitations as the broader H4 phase unfolds. Note: Given the Federal Reserve's dovish stance and persistent geopolitical tensions, volatility in Gold prices is likely to remain elevated. Traders should remain cautious and prepared for potential price whipsaws in this high-volatility environment. M15 Chart:
OANDA:XAUUSD
by Khan_YIK
Gold Price Analysis: Bearish Flag Forming Amid Choppy RecoveryAfter Monday's significant drop, the price of gold began a correction yesterday, reaching my first resistance zone at 2640 before resuming its decline. However, gold found support around 2620 and started recovering again. The price action now appears to be forming a bearish continuation flag, suggesting that the next major move could be another downturn. In the meantime, gold may continue to rise in a choppy fashion toward the next key level at 2660. My strategy is to sell rallies near this zone, targeting a drop to 2590 while monitoring the newly established support at 2620.
OANDA:XAUUSDShort
by Mihai_Iacob
4
Analysis of the Downward Trend in Gold Prices This WeekGold prices remained stable above $2,600 in the past week, primarily supported by increasing geopolitical tensions. However, after Donald Trump's victory in the U.S. presidential election, gold still faced pressure to limit its price increase, as the U.S. dollar is expected to be supported by Trump's win. Regarding gold's recent recovery, after the release of the U.S. Personal Consumption Expenditures (PCE) data earlier this week, which met expectations, market anticipation for a Federal Reserve rate cut in December has risen, driving gold prices higher. Currently, the market is pricing in about a 66% chance of the Fed cutting interest rates by 25 basis points in December, a significant increase from just over 50% a week ago. Geopolitical tensions in Europe, caused by Russia's missile attack on Ukraine, have also provided support for safe-haven assets like gold. The Israeli military announced on Thursday that their air force had struck a facility in southern Lebanon used by Hezbollah to store medium-range missiles, as both sides accused each other of violating the ceasefire agreement. On Thursday, Russia launched its second major attack this month on Ukraine's energy infrastructure, causing widespread power outages in the country. Gold OANDA:XAUUSD is generally seen as a safe investment during periods of economic and geopolitical instability. Gold prices have dropped about 3% this month, hitting a two-month low on November 14. This is mainly due to the strengthening U.S. Dollar since Trump's election, and his tariff policies, which are seen as likely to push inflation higher, thus slowing down the Federal Reserve’s rate-cutting cycle. Next week, the U.S. will release key economic data, including job openings, ADP employment reports, and non-farm payrolls, which could provide direction on the Federal Reserve's policy outlook. Important Economic Data to Watch Next Week Monday: ISM Manufacturing PMI Wednesday: ADP Employment Report, ISM Services PMI, Federal Reserve Chairman Jerome Powell will participate in a panel discussion at the New York Times DealBook Summit Thursday: Weekly Jobless Claims Friday: U.S. Non-Farm Payrolls Report, University of Michigan Preliminary Consumer Sentiment Technical Outlook for XAUUSD (Gold Price) Gold is attempting to recover but remains limited by the 50% Fibonacci level and the EMA21, as pointed out in yesterday's publication. In terms of overall structure, gold still leans towards a bearish outlook, with the main trend indicated by the price channel (a) and resistance from the EMA21. The Relative Strength Index (RSI) has also not yet surpassed the 50 level. Therefore, in terms of trend and momentum, gold is more likely to face downward pressure rather than rise. As long as gold stays within the price channel (a), it does not meet the technical conditions for a long-term price increase, so any rallies should be viewed as short-term recoveries. In the short term, if gold drops below the 0.618% Fibonacci retracement level, the next target for a decline would be around the $2,600 level. In conclusion, the technical outlook for gold on the daily chart is bearish, with the following key levels to watch: Support: $2,634 – $2,606 – $2,600 Resistance: $2,663 – $2,693 However, traders must note that in the context of geopolitical conflicts, technical structures can be broken very quickly due to sudden, impactful events. Therefore, the risk will be higher in the short term. This concludes the article. Henry wishes for a healthy, joyful, and happy weekend.
OANDA:XAUUSDShort
by Henrybillion
1
THE KOG REPORT THE KOG REPORT: I last week’s KOG Report we wanted the lower support level to hold 2710, give us the push up into the higher resistance level where we said watch 2720 and 2730 which needs to break above. It’s those higher levels, in particular 2750 we wanted to attempt that short trade back down into the lower levels. From the open, price resisted 2720, failed to break and gave us the red box trades down into the support levels. We then had to switch to level-to-level trading due to the ranging which worked well, but we only managed 5 out of 6 Gold targets out of a combined 16 targets completed across the other pairs. During the week we updated traders with the plans and managed guide them up from the lows to where we closed the week. It was another successful and consistent week; however, the market didn’t move completely how we wanted it to. The Election special chart however, still on track and working well with our view from the start of November. So, what can we expect in the week ahead? Ok, it’s going to be another choppy week, trades are most likely going to be again level-to-level on the red boxes which we will share with the wider community as and when we can. We have the level of 2670 sticking out as resistance with the support level 2650-55 being the key level. With NFP on Friday we would expect most of the movement during the early part of the week before they then settle pre-event into a small range. The weekly key level here is 2620 which will need to break for price to go lower. We’ll start the week again looking for the higher levels 2662-5 and extension of the move into 2670, if held, an opportunity to short may be available into the lower support level 2650 and below that 2640. We need price to hold above the 2640 region in order to continue higher into the 2675 and above that 2678 price points, so please keep an eye on the support levels. On the flip, if we continue downside from the open, we will be looking at the 2640-5 region to hold, and if it does, an opportunity to long is on the horizon into the 2665 and above that 2675 region. KOG’s Bias for the week: Bullish above 2640 with targets above 2655, 2665 and above that 2670 Bearish on break of 2640 with targets below 2635 and below that 2620-15 RED BOXES: Break above 2652 for 2660, 2665, 2670 and 2675 in extension of the move Break below 2640 for 2635, 2630 and 2617 in extension of the move As usual, we will update traders through the week with KOG’s bias of the day and the Red boxes which have proven to work extremely well on not only gold, but also any other pair you wish to apply them to together with our basket of indicators. Please do support us by hitting the like button, leaving a comment, and giving us a follow. We’ve been doing this for a long time now providing traders with in-depth free analysis on Gold, so your likes and comments are very much appreciated. As always, trade safe. KOG
FX:XAUUSD
by KnightsofGold
8
XAU/USD 02-06 December 2024 Weekly AnalysisWeekly Analysis: Swing Structure -> Bullish. Internal Structure -> Bullish. Price Action Analysis: In my analysis dated 27 October 2024, it was noted that the first sign of a pullback would be a bearish Change of Character (CHoCH), indicated by a blue dotted line. Price's consistent upward momentum had positioned this CHoCH much closer to recent price levels as expected for weeks. Now, for the first time since 23 November 2020, price has printed a bearish CHoCH. We are currently trading within a defined internal range. Price is anticipated to trade down towards either the discount of the internal 50% Equilibrium (EQ), highlighted in blue, or the Weekly demand zone before targeting the weak internal high. Note: It is highly unlikely price will "crash" as many analysts are predicting. My view is this is merely a corrective wave of the primary trend. Given the Federal Reserve's dovish policy stance alongside heightened geopolitical risks, market volatility is likely to remain elevated, influencing intraday price swings. Weekly Chart: Daily Analysis: -> Swing -> Bullish. -> Internal -> Bullish. Price Action Analysis: Price has shown a reaction from discount of internal 50% EQ. Currently price has been unable to target the weak internal high Given the current internal range dynamics, price is expected to target weak internal high, priced at 2,790.170 However, considering the signs of a pullback phase on the Weekly timeframe, there remains a possibility of price printing a bearish Internal Break of Structure (iBOS). Price has yet to tap into Daily demand. Note: With the Fed maintaining a dovish policy stance and the continued rise in geopolitical tensions, we should anticipate elevated market volatility, which may impact both intraday and longer-term price action. Daily Chart: H4 Analysis: -> Swing: Bearish. -> Internal: Bullish. Bias/analysis remains the same as analysis dated 25 November 2024. Price Action Analysis: As mentioned in yesterday's analysis dated 24 November 2024, whereby price was expected to print a bearish CHoCH. This is how price printed. Currently, price is trading within an established internal range. Intraday Expectation: Price is anticipated to trade down to either discount of internal 50% EQ, which is marked in blue, or H4 demand zone before targeting weak internal high priced at 2,721.420. Note: With the Federal Reserve's dovish stance and persisting geopolitical uncertainties, heightened volatility in Gold is expected to continue. Traders should proceed with caution and adjust risk management strategies in this high-volatility environment. H4 Chart:
OANDA:XAUUSD
by Khan_YIK
3
XAUUSD:29/11 Today's Market Analysis and StrategyGold technical analysis Daily resistance 2700, support below 2634 Four-hour resistance 2688, support below 2647 Gold breaks upwards, gold starts to strengthen, we continue to go long. Buy gold directly near 2650 in the NY market! Gold breaks through the convergent triangle pattern in the Asian session, and gold finally chooses to break upwards. Gold bulls exert their strength, and the gold 1-hour moving average also diverges upwards. Continue to go long when gold falls back.
TVC:GOLDLong
by ActuaryJ
XAUUSD Buy setup Gold price (XAU/USD) sticks to its intraday bullish bias through the early European session on Friday and currently trades just below a four-day top, around the $2,657-2,658 area. Concerns about the effect of US President-elect Donald Trump's trade tariffs on global growth and the protracted Russia-Ukraine war continue to drive haven flows towards the precious metal. Apart from this, depressed US Treasury bond yields and an intraday US Dollar (USD) dip to a two-week low turn out to be another factor that benefits the commodity.Meanwhile, expectations that US President-elect Donald Trump's expansionary policies would revive inflationary pressures and signs that the progress in lowering US inflation stalled in October could restrict the Fed from easing policy further. This, in turn, could limit any further slide in the US bond yields and lend support to the USD, warranting caution before placing fresh bullish bets around the non-yielding Gold price. Hence, strong follow-through buying is needed to confirm that the XAU/USD has formed a near-term base near the $2,600 mark.
OANDA:XAUUSDShort
by KingForex078
XAU/USD 29 November 2024 Intraday AnalysisH4 Analysis: -> Swing: Bearish. -> Internal: Bullish. Bias/analysis remains the same as analysis dated 25 November 2024. Price Action Analysis: As mentioned in yesterday's analysis dated 24 November 2024, whereby price was expected to print a bearish CHoCH. This is how price printed. Currently, price is trading within an established internal range. Intraday Expectation: Price is anticipated to trade down to either discount of internal 50% EQ, which is marked in blue, or H4 demand zone before targeting weak internal high priced at 2,721.420. Note: With the Federal Reserve's dovish stance and persisting geopolitical uncertainties, heightened volatility in Gold is expected to continue. Traders should proceed with caution and adjust risk management strategies in this high-volatility environment. H4 Chart: M15 Analysis: -> Swing: Bearish. -> Internal: Bearish. Today's analysis and bias will remain the same as analysis dated 26 November 2024. Price Action Analysis: Intraday expectation and analysis dated 25 November 2024 printed as anticipated, with price successfully printing a bearish iBOS after targeting the weak internal low. A correction from yesterday's intraday expectation: instead of targeting the weak internal high, price was expected to target the weak internal low. Price has since printed a bullish CHoCH, indicating, but not confirming, bullish pullback phase. We are now trading within an established internal range. Intraday Expectation: Price is anticipated to trade up to either the internal 50% EQ or the M15 supply zone before targeting the weak internal low at 2,605.310. Alternative Scenario: The H4 timeframe has printed a bearish CHoCH, indicating the initiation of a bearish pullback phase coupled with the fact that H4 TF is now trading in discount of internal 50%. However, this suggests that bearish momentum on M15 may face limitations as the broader H4 phase unfolds. Note: Given the Federal Reserve's dovish stance and persistent geopolitical tensions, volatility in Gold prices is likely to remain elevated. Traders should remain cautious and prepared for potential price whipsaws in this high-volatility environment. M15 Chart:
OANDA:XAUUSD
by Khan_YIK