GOLD 2660 straight to 2900Gold is on its way to new highs, anything under $2660 USD is the perfect entry levels. 2900 and above is where gold is headed.
GOLDCFD trade ideas
GOLD corrects, possibility remains optimistic as FOMC is comingOANDA:XAUUSD eased the correction significantly, which was partly due to the market taking profits after gold prices hit a five-week high and rushing to close positions ahead of next week's Federal Reserve meeting. In addition, higher US bond interest rates also affect gold prices.
OANDA:XAUUSD fell sharply on Thursday and was limited this trading day (Friday), as of press time, as traders booked profits following the release of US PPI data.
PPI data exceeded expectations, suggesting the fight against inflation may be stalling. In addition, the 10-year US Treasury bond interest rate increased slightly by 1.5 basis points to 4.289%, which also put pressure on gold.
The US producer price index (PPI) rose higher than expected in November due to soaring food costs. The U.S. Department of Labor reported on Thursday that the U.S. PPI rose 3% year-on-year and 0.4% month-on-month in November. Previous market expectations were 2% .6% and 0.2%.
Although Wednesday's US Consumer Price Index (CPI) was in line with expectations, it still rose at a seven-month high.
However, gold is expected to hold onto gains this week as optimism grows that the Federal Reserve could cut interest rates by 25 basis points next week. Traders' attention is turning to the prospect that the Federal Reserve may pause policy easing as early as 2025. Lower borrowing costs typically benefit gold because gold itself does not create out yield.
According to a report released by the World Gold Council (WGC) on Thursday, gold's gains are expected to slow in 2025 as concerns about growth and inflation during Donald Trump's presidency have can affect the ability to increase the price of gold.
Gold prices have risen more than 30% year-to-date and are on track for their biggest annual gain since 1979. The rapid rise has been fueled by the Federal Reserve's easing policy, demand safe-haven demand and continued buying activity by global central banks.
Analysis of technical prospects for OANDA:XAUUSD
On the daily chart, gold has corrected but overall it still has all the conditions for a technical upside with price activity outside the channel and above the EMA21 level.
Currently, gold's uptrend is temporarily limited by resistance at $2,693, the 0.382% Fibonacci retracement price point, more than the 0.236% Fibonacci level noticed by previous readers.
On the other hand, the Relative Strength Index also maintains activity above the 50 level, which should be considered a positive signal for the bullish outlook in the near future.
As long as gold remains above the EMA21 and outside the price channel, in the short term it is still likely to increase with notable points listed below.
Support: 2,676 – 2,663 – 2,644USD
Resistance: 2,693 – 2,700 – 2,730USD
SELL XAUUSD PRICE 2706 - 2704⚡️
↠↠ Stoploss 2710
→Take Profit 1 2699
↨
→Take Profit 2 2694
BUY XAUUSD PRICE 2659 - 2661⚡️
↠↠ Stoploss 2655
→Take Profit 1 2666
↨
→Take Profit 2 2671
My expectations for Gold!Hello guys
due that the uptrend purple line was broken by 4h candle so my target is show there even if it will go down more but i believe that target will be reached by 99% confidence
My ideas are exclusive to myself only and is not regarded as an advice for traders or investors and are not more than personal thoughts which I just wanted to share with you all and I do hope they could help.
I am not selling any signals and I do not take money favour any trades recommendations. They are free of charge all lifelong but I keep the copy rights of them though to not be copied or shared or sold.
GOLD → False breakout and negative fundamental backgroundFX:XAUUSD is correcting after a false breakout of resistance. This is also supported by negative fundamentals. Will there be a pullback or will the decline continue?
Optimism over China's economic stimulus is waning amid growing fears of a trade war between the US and China. Expectations of a hawkish Fed interest rate next week helped boost the US dollar, leading to a corrective decline in the gold price.Markets now believe the Fed may send a hawkish signal by signaling a pause in January after PPI came in higher than expected
Technically gold is still inside the channel, consolidation continues. Focus on 2658-2660 support, below which there is a huge pool of liquidity that may not let the price down on the first try
Resistance levels: 2675, 2682, 2699
Support levels: 2658, 2636
From the support 2658 may form a correction from which will depend on the further development of events: if the correction will be small and the price will quickly return to 2658, it will increase the chances of support breakout and further fall, for example, to 2636. But, if gold can consolidate above 2682 and consolidate above the local high, the price may head for a retest of the high
Regards R. Linda!
Trading Signal for GOLD (XAU/USD) for December 13-15, 2024GOLD is trading around 5/8 of Murray at 2,673 within the uptrend channel forming since December 4 and above the 21 SMA and the 200 EMA.
On the H3 chart, we can see that during the European session on Wednesday, gold made a strong technical correction from 2,704 to 2,676. Since then, we see that it has recovered part of the losses.
A further drop is likely to occur due to the US inflation data to be released any time.
In case a pullback occurs at 2,683 where the first daily resistance is located, it will be seen as an opportunity to sell gold, with targets at 2,633 and 2,616.
Gold Prices Are Carving Out a Rectangular PatternIt will take a few more weeks for a proper pattern to form, but gold prices are carving out a rectangular pattern. The chart shows potential target levels following a breakout.
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Weekly close / recapitulationTechnical analysis: Hourly 4 chart is delivering more clearer structure in times of violent market Volatility and drawdown on Stock markets such as January fractal, and that showcases that the Price-action is Trading on the #4th straight capital candle within the Neutral Rectangle on Hourly 4 chart. As long as the Daily chart’s #MA50 holds and adds durability, current Selling sentiment should be extended towards the #2,652.80 benchmark Support extension and if invalidated, a Lower High’s Lower zone should be tested near #2,627.80 in succession. The Daily chart aswell continues to Trade near healthy Selling levels and the market is just waiting for the Neutral Rectangle to break which may kick-start the aggressive takedown on Gold. I was ready to Sell Gold on spot ahead of the #2,700.80 benchmark break (as I announced the break-out itself should open flood doors towards #2,652.80 benchmark) however I was Highly satisfied with my Profit range / returns for the week and I don't mind I missed Selling sequence.
DX invalidated the Short-term Support, and is dangerously approaching #106.500 Medium-term Resistance zone, so that development alone should ease Buying pressure on Gold.
My position: I am comfortably on sidelines with my capital ready for fresh next week's candles to Profit upon. Weekly closing is on main stage and keep #2,652.80 as your main pointer for both Short and Medium-term. Have a pleasant weekend ahead!
Weekly close / recapitulationTechnical analysis: Hourly 4 chart is delivering more clearer structure in times of violent market Volatility and drawdown on Stock markets such as January fractal, and that showcases that the Price-action is Trading on the #4th straight capital candle within the Neutral Rectangle on Hourly 4 chart. As long as the Daily chart’s #MA50 holds and adds durability, current Selling sentiment should be extended towards the #2,652.80 benchmark Support extension and if invalidated, a Lower High’s Lower zone should be tested near #2,627.80 in succession. The Daily chart aswell continues to Trade near healthy Selling levels and the market is just waiting for the Neutral Rectangle to break which may kick-start the aggressive takedown on Gold. I was ready to Sell Gold on spot ahead of the #2,700.80 benchmark break (as I announced the break-out itself should open flood doors towards #2,652.80 benchmark) however I was Highly satisfied with my Profit range / returns for the week and I don't mind I missed Selling sequence.
DX invalidated the Short-term Support, and is dangerously approaching #106.500 Medium-term Resistance zone, so that development alone should ease Buying pressure on Gold.
My position: I am comfortably on sidelines with my capital ready for fresh next week's candles to Profit upon. Weekly closing is on main stage and keep #2,652.80 as your main pointer for both Short and Medium-term. Have a pleasant weekend ahead!
XAUUSD FOR A BUYGold overall direction for me is a buy for my strategy, it has broken my inner bearish channel to continue the up movement. So I'm looking for a buy after the breakout of the resistance.
Can Plan Trade in Gold Sell????You can take in first level by some confirmation on lower time frame. 2nd Level you take direct entry
Gold Trade Plan 13/12/2024Dear Traders,
according my last analysis price dropped 800 Pips from i specified Level ,
2657-2660 we have Strong support , and i expect price will be bounce off to 2700 level,
Reject price from that level ...then Downtrend will continue to 2620-2600-2550
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Regards,
Alireza!
Gold can hit 2750 before continuing it's bearish reversal trend?Gold prices climbed further, driven by escalating Middle East geopolitical tensions and a Wall Street selloff boosting safe-haven demand.
China likely acquired over five tonnes of gold in Nov, according to the PBoC report.
Upcoming central bank decisions in Canada, the EU, Switzerland, and the Fed are expected to heighten gold price volatility as investors await key economic signals.
XAUUSD firmly broke above its sideways range, with higher swings and diverging bullish EMAs indicating its bullish momentum.
If XAUUSD surpasses the previous high at 2720, the price could rise toward its resistance at 2750 before a potential bearish reversal.
Conversely, if XAUUSD retraces, the price may dip to 2680 before continuing its uptrend.
1M liquidity found on 2720 and 1M+ liquidity found on 2750 so move is confirm
GOLD BUYHi Traders
What are you thinking About GOLD.
This Price seems in Buy Side To Top.
Resistance Zone 2700
Support Zone 2663/58
Price will Test Support After Again Rise.
Lets Like and Share Your Minds In Comments .
Gold likely to edge lower in the opening hours of the London According to my top down analysis, I have a more bearish sentiment on Gold, as we could see a bearish respect of the weekly fvg on the daily timeframe
