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CFDs on Gold (US$ / OZ)

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GOLD trade ideas

XAUUSD (Gold) ANALYSIS READ MY CAPTIONHello traders look at my chart and share your ideas about it . Gold is running around the 2621-2610, after retracing the first Resistance gold is trying to move to support one , you can identify the perfect entry from the given chart you may go long from support 1 and 2 or you may go short from resistance 1 and resistance 2. KEY POINTS: Support 1 : 2607-2608 Support 2 : 2684-2682 Resistance 1: 2633-2634 Resistance 2 : 2660-2663 Demand zone : 2700-2698 Further you can check my chart and share your ideas about it, follow me for timely updates
OANDA:XAUUSD
by Eric_444
12.24 Technical Analysis of Gold Short-term OperationsYesterday, the gold market opened low at 2619.5 in the morning and then the market rose first. The daily line reached a high of 2633.3 and then the market fell back. The daily line reached a low of 2607.8 and then the market consolidated. The daily line finally closed at 2613.3 and the market closed with a pregnant inverted hammer pattern with a long upper shadow. After the end of this pattern, today's market fell back and continued to short. In terms of points, today's market first rose to 2620 short and conservatively 2628 short stop loss 2632. The target is 2612 and 2607. If it falls below, it will look at 2603 and 2600. If it falls below, it will leave near 2593 and 2585.
TVC:GOLDShort
by AIan_Gold
1
Forecasting gold priceForecasting gold prices is a complex task, as it's influenced by a multitude of factors. Here's a breakdown of the key elements and some current forecasts: Factors Influencing Gold Prices: US Dollar: Gold is often priced in US dollars, so its value tends to move inversely to the dollar's strength. A stronger dollar makes gold more expensive for holders of other currencies, potentially dampening demand. Interest Rates: Rising interest rates can make holding gold less attractive, as it doesn't offer a yield like bonds or other interest-bearing assets. Inflation: Gold is often seen as a hedge against inflation. When inflation rises, investors may turn to gold to preserve their purchasing power. Geopolitical Uncertainty: Economic or political instability, such as wars or financial crises, can increase demand for gold as a safe haven asset. Supply and Demand: Physical demand for gold, including jewelry, industrial uses, and central bank purchases, also plays a role in price fluctuations. Current Forecasts: Trading Economics: Their global macro models and analysts expect gold to trade at $2,682.04 USD/t oz. by the end of the current quarter and $2,783.76 in 12 months. FXEmpire: They highlight that the US dollar's strength and the Federal Reserve's monetary policy are key factors currently limiting gold's upward momentum. They are closely watching the US PCE Price Index for inflation insights, which could significantly impact gold prices. Other Analysts: Some analysts suggest that geopolitical tensions and concerns over a potential US government shutdown could boost gold's safe-haven appeal. However, strong economic data could reinforce the Fed's policy stance and limit gold's upside. Important Considerations: Forecasts are not guarantees: These are just predictions based on current information and models. Unexpected events can significantly impact gold prices. Multiple factors at play: It's crucial to consider the interplay of various factors, rather than focusing on any single element. Stay updated: Keep an eye on economic data releases, central bank announcements, and geopolitical developments to stay informed about potential influences on gold prices. In conclusion, the outlook for gold is mixed, with both upward and downward pressures at play. The US dollar's strength and the Fed's monetary policy are key factors to watch, along with inflation data and geopolitical events. It's essential to stay informed and consider multiple perspectives when making any investment decisions related to gold.
TVC:GOLD
by ITManager_US
##Gold Technical Analysis for the Upcoming Week 15/12/2024### Current Market Overview Gold has shown significant price movements recently, encountering challenges in breaking through key resistance levels. As we approach a crucial week with the Federal Open Market Committee (FOMC) decision, here’s a comprehensive technical analysis for gold (XAU/USD) to guide your trading decisions. ### Recent Price Action Breakout Attempt: Gold made an attempt to breach the resistance zone around $2700-$2720 but failed to maintain the bullish momentum. This failure suggests potential exhaustion among buyers and could indicate profit-taking ahead of the FOMC week. Post-PPI Movement: Following the release of the Producer Price Index (PPI) data, gold faced significant selling pressure, highlighting the market's sensitivity to inflationary signals that may influence future monetary policy. Current Price: As of the latest close, gold is trading at $2648, which is below the 60% Fibonacci retracement level from the last bullish impulse. This positioning indicates a possible shift in the short-term trend from bullish to bearish, or at the very least, a period of consolidation. ### Support and Resistance Levels - Support Levels: - Immediate support is noted around $2638. - Further supports are at $2623 and $2590. A break below these levels could accelerate declines towards $2565/2530 or even $2485. - Resistance Levels: - The recent high around $2692-$2721 now serves as key resistance, with $2671 also acting as a hurdle. For gold to reverse the current bearish sentiment, it would need to rise above this resistance zone decisively. ### Potential Scenarios for Next Week Bearish Scenario: If gold continues to trade below the 60% retracement level and fails to reclaim the $2692, we can expect further downward movement. Key levels to monitor would be the mentioned supports. A decisive break below these could indicate a deeper correction, targeting $2530/2485 or lower. Bullish Reversal: Should gold find strength and bounce back—potentially due to renewed safe-haven demand or a dovish signal from central banks—watch for a move above $2722 for confirmation. A sustained rise with good volume could invalidate the current bearish setup and signal a new upward trend. ### Anticipated Impact of FOMC Rate Decision FOMC Statements and Dot Plot: The FOMC's language, especially regarding future rate paths, will be essential. If hints of more aggressive rate cuts for 2025 are suggested, a bullish reaction could ensue for gold. Conversely, a hawkish or neutral stance could exert downward pressure on gold prices. Market Expectations: Current expectations lean towards a rate cut, but traders should be vigilant for indications of the Fed's overall policy aggressiveness. Any surprises in the FOMC decision could lead to substantial price swings for gold. Volatility Ahead: As the FOMC announcement approaches, increased volatility is expected. Traders should be prepared for whipsaws—sharp price movements that may reverse quickly. ### Post-FOMC Scenarios Bullish Case: If the Fed adopts a dovish tone, leading to a weaker dollar and lower yields, gold may become an attractive hedge. If it reclaims and holds above $2680-$2716 post-FOMC, we could see a resurgence in bullish momentum, targeting new highs. Bearish Case: Should the Fed's messaging be less dovish than anticipated, or if fewer rate cuts are indicated, we could see a strengthening of the dollar, pushing gold down further. Prices below $2600 may see intensified bearish momentum. Neutral or Consolidation: If the FOMC decision aligns with expectations without providing new insights, gold might continue to consolidate until another significant catalyst emerges. ### Conclusion The upcoming FOMC decision is pivotal for gold's price trajectory. Prepare for various scenarios based on the Fed's policy direction, and utilize this analysis to guide your trades effectively. Stay informed, stay alert, and best of luck in your trading endeavors!
EIGHTCAP:XAUUSD
by SRFXGlobal
XAUUSD on the way to 2900 Price LevelThe currency pair in focus is XAU/USD, representing the exchange rate between gold (XAU) and the US Dollar (USD). The current price of XAU/USD is 2611, meaning one ounce of gold is valued at 2611 US Dollars. The target price is 2900, indicating a projected increase in gold's value to 2900 USD per ounce. The expected gain is 2000 pips, with each pip representing a small price movement in the currency pair. The pattern being observed is a Symmetrical Triangle, a chart formation that indicates a period of consolidation. In this pattern, the price moves between converging trendlines, suggesting that the market is uncertain and waiting for a breakout. A breakout occurs when the price breaks above the upper trendline or below the lower trendline, signaling a strong price movement. Traders are watching for this breakout, as it could push the price toward the target of 2900. The symmetrical triangle pattern typically leads to a significant price movement once the breakout occurs, making it a key technical indicator. This setup is used by traders to anticipate the direction of the next major move in the market.
OANDA:XAUUSDLong
by AndrewsMarket-Mastery
Gold fell and weakened Gold fell after rising to 2790. The daily chart shows a descending triangle pattern, with the high point gradually moving down, and the overall trend is a five-wave decline at a high level. The lower support level of 2545 is the dividing line between long and short positions, and the upper level of 2720 forms a double top and falls back, and it rebounds near 2584. In general, gold is in a trend of high-level shock and decline, with a short-term rebound and a small ascending triangle structure. In terms of operation, you can pay attention to the breakthrough of the triangle before trading. Short-term support is 2610 and resistance is 2635. It is recommended to arrange short orders when breaking below 2610, and those who are conservative can wait for the price to rebound to 2630-2635 under pressure before going short. The downside targets are TP2605, TP2580, and TP2550, respectively, and the stop loss can be set at 2656 (breaking above the previous adjustment range).
FOREXCOM:XAUUSDShort
by RonPeter_Trading
Daily Analysis of Gold Ounce to USD – Issue 176The analyst believes that the price of { XAUUSD } will decrease in the next 24 hours. This prediction is based on quantitative analysis of the price trend. Please note that the specified take-profit level does not imply a prediction that the price will reach that point. In this framework of analysis and trading, unlike the stop-loss, which is mandatory, setting a take-profit level is optional. Whether the price reaches the take-profit level or not is of no significance, as the results are calculated based on the start and end times. The take-profit level merely indicates the potential maximum price fluctuation within that time frame.
FOREXCOM:XAUUSDShort
by MoonriseTA