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XAUUSD trade ideas

XAUUSD: Buyers Dominate!Dear traders! Today, gold prices have made an impressive recovery, rising more than $48.4 to $2,708.8/ounce, marking a strong move with an increase of more than 1%. This recovery is reinforced by the weakness of the US dollar, along with the news that the Federal Reserve is expected to cut interest rates by 0.25% this Thursday. Although future interest rate cuts may face challenges if former President Trump returns, this trend opens up many positive opportunities for gold in the short term. As seen from the 1-hour chart, the uptrend is forming and is being consolidated after the correction. In addition, the current gold price is reacting at the support zone of the two EMAs (34 and 89), creating a notable area. Therefore, Victor personally appreciates that based on the current momentum, if the price breaks the short-term resistance level near $2,710, the possibility of gold prices continuing to increase to higher levels in the coming time is high. At the time of writing, the realization phase is forming, Victor is waiting for confirmation with the aim of strengthening further.
OANDA:XAUUSDLong
by Bentradegold
GOLD Will Go Up From Support! Long! Here is our detailed technical review for GOLD. Time Frame: 4h Current Trend: Bullish Sentiment: Oversold (based on 7-period RSI) Forecast: Bullish The market is approaching a key horizontal level 2,721.720. Considering the today's price action, probabilities will be high to see a movement to 2,744.828. P.S Please, note that an oversold/overbought condition can last for a long time, and therefore being oversold/overbought doesn't mean a price rally will come soon, or at all. Like and subscribe and comment my ideas if you enjoy them!
OANDA:XAUUSDLong
by SignalProvider
1
GOLD may test the support levels down to 2350Daily chart Gold TVC:GOLD touched the support line S and rebounded in the last candlestick. So, we need to wait for a confirmation by closing this day and tomorrow, either a successful hammer candlestick, or visiting the lower support levels - one by one! At each shown support level, there will be 2 scenarios: Rebound up or Break down. The technical indicators MACD and RSI are showing a bearing movement. This is only a (Be careful signal)! The direction should be confirmed before opening a new position.
TVC:GOLD
by snour
Gold trading strategy analysis for next weekFundamental analysis 1: Gold prices fell on Friday, weighed down by a stronger dollar and higher bond yields, but weak job growth data in the world's largest economy prompted analysts to increase bets on a Fed rate cut, limiting some of the losses. Conclusion: I personally think there is a 100% chance that the Fed will cut interest rates by 25 basis points next week 2: The upcoming US election this week is also seen as one of the key factors affecting gold's trend Conclusion: I personally think that next week's interest rate meeting is scheduled just after the US election, so the gold market may use the results of the US election to reach new highs. 3: The market has different views on the future trend of gold prices, but in the long run, gold's position as a safe-haven asset and reserve currency remains solid. Especially in the current context of increasing global economic uncertainty and intensified geopolitical risks, the attractiveness of the gold market will be further enhanced. Conclusion: There may be short-term fluctuations this week, but the long-term outlook remains optimistic Technical analysis In the context of macroeconomics, we still need to undergo rational technical analysis and accurately categorize and sort out the gold trend chart. Combined with the market's volume and price sentiment, we can draw the following conclusions: 1: The short-term trend of gold has developed to the end of the graph, and it is bound to have a big market next week. 2: The current key price consolidation range is: 2730-2735. From this, we can judge the next direction, bull market? Bear market? Or oscillating trend? 3: The current high probability price oscillation range is: 2712-2760 4: Long strategy: 2730 is used as an important trend support point reference 5: Short strategy: Continue our analysis last week and use 2760 as an important pressure point. 6: The important signal of the bull market breakthrough is the breakthrough of 2760. If it can be broken, it is likely to continue to rise 7: The important signal of the bear market breakthrough is the breakthrough of 2710. If it can be broken, it is likely to continue to fall Next, I will continue to organize and share the corresponding trading signals for you, and investors should also grasp the rhythm. Thank you for your attention.
OANDA:XAUUSD
by GoldFxTradingPioneer
XAUUSD - Gold Awaiting US ElectionsGold is below the EMA200 and EMA50 in the 4H timeframe. In today's analysis, I have drawn trade scenarios for you based on various confirmations In each circle we look for one-hour timeframe candles to confirm the expected trend. After a grueling and controversial campaign season, the US election will be held this week. Although many experts believe a clear winner is unlikely to be announced on Wednesday, much of the uncertainty surrounding the US political landscape is expected to ease next week, which may not bode well for gold. This precious metal had significant momentum last month due to the election fluctuations. Market analysts pointed out that the improvement of former US President Donald Trump's chances of victory and the creation of a potential "red wave" (a Republican victory) in Congress raised concerns about the continued unabated increase in government spending. In recent weeks, that fear has extended to either party's control of the White House and both houses of Congress. However, there is a famous saying in the financial markets for times like this: "Buy the rumor and sell the news." Last week, gold prices hit an all-time high above $2,800 an ounce as investors weighed in on rumors surrounding the US election. Dennis Gartman, a noted commodity investor, said he has become more cautious about gold as it draws more attention from investors. However, he added that despite any near-term weakness, gold's long-term fundamentals are well supportive of prices. "The main trend is still bullish," he said. Aside from the geopolitical turmoil created by this election cycle, gold remains well-supported by the sluggish US economy and labor market. In October, the US economy added just 12,000 jobs, well below expectations for 100,000 jobs. Some of the weakness can be attributed to fluctuations caused by cyclone devastation in southern states. However, looking beyond this volatility, sharp downward revisions in August and September suggest that the labor market is cooling. At the same time, this week we also saw that inflation is continuously increasing. The main measure of personal consumption expenditures, the U.S. central bank's preferred measure of inflation, showed that consumer prices held steady at 2.7% over the past three months. The Fed is stuck and will continue to cut interest rates as the labor market weakens. While interest rate cuts may not be as aggressive as they would like, higher inflation means lower real interest rates, which will hurt the US dollar and support gold prices.
FOREXCOM:XAUUSD
by Ali_PSND
GOLD NEXT MOVE (expecting a bearish move) (09-10-2024)Go through the analysis carefully and do trade accordingly. Anup 'BIAS for the day (09-10-2024) Current price- 2618 "if Price stays below 2632, then next target is 2606 and 2585 and above that 2640". -POSSIBILITY-1 Wait (as geopolitical situation are worsening ) -POSSIBILITY-2 Wait (as geopolitical situation are worsening) Best of luck Never risk more than 1% of principal to follow any position. Support us by liking and sharing the post.
OANDA:XAUUSD
by AnupZiddi
32
Gold's Slide: A Deep Dive into Today’s Sharp DeclineGold prices took a steep hit today, plunging below the critical $2,700/ounce mark and trading around $2,655, shedding over 800 pips from yesterday’s levels. This sharp decline is largely driven by the strength of the U.S. dollar and the Federal Reserve's high interest rates, which have dampened gold's appeal for investors. The rising rates increase the opportunity cost of holding gold, nudging capital flows toward higher-yield assets. Forecast Should the downward trend persist, gold may test lower support levels near $2,607, following a Fibonacci retracement. Investors are advised to consider short positions while closely monitoring market fluctuations in the near term.
OANDA:XAUUSDShort
by Chipucu
Expectations of a Fed rate cut boosted the reboundMarket Analysis: Today, gold prices have fallen below the 2700 mark following a surge in the U.S. dollar after Donald Trump’s surprising political comeback as President. The primary driver behind this pullback is the market’s expectation that Trump, known for his pro-capitalist stance, will prioritize U.S. economic growth. This outlook has strengthened the dollar, resulting in downward pressure on gold. Currently, it appears the market has largely priced in the bearish impact of Trump’s election, limiting gold's potential for further decline. Additionally, the Federal Reserve’s two-day policy meeting, concluding on Thursday, is expected to result in a 25-basis-point rate cut, which would likely provide upward momentum for gold. Trading Strategy: Given the current low levels, going long on gold presents a strategic opportunity. With the anticipated Fed rate cut, we can expect a positive impact on gold prices, fueling a rebound. Recommendation: Based on this analysis, the general trading direction should be clear. For specific entry points and comprehensive weekly strategies, please reach out. All VIP members will receive exclusive access to this week’s detailed trading plan.
OANDA:XAUUSDLong
by Falcon-Training-Camp
XAU/USD (Gold/USD) chart on a 144-minute timeframe1. Wave Analysis and Elliott Wave Structure The chart follows an Elliott Wave structure, identifying five distinct waves of a downtrend (Wave 1 to Wave 5) followed by a corrective pattern. Notable Wave Points: Wave 5 is projected to potentially end near the 1.618 Fibonacci extension level around 2,843.46, which often marks a strong potential reversal point. Corrective Waves (i-iv): Following the primary downtrend, the upward movement seems to be structured in corrective waves (i, ii, iii, iv), suggesting a possible ABC or zigzag correction in progress. 2. Fibonacci Levels 1.618 Extension at 2,843.46: This level acts as a key Fibonacci extension for a potential diagonal Wave 5 completion, which could serve as a resistance level for price to react or reverse. 1.236 Extension at 2,803.48: This level has been marked with a "Volume Divergence by Wave 5" note, indicating that this might be a significant area of confluence where volume divergence could lead to a price reaction or reversal. 3. Wyckoff Phases and Price Levels Automatic Reaction (AR) and Secondary Test (ST): The chart labels an AR and ST in a possible Wyckoff Phase B, which usually indicates accumulation. This phase is characterized by testing support and resistance levels as the market builds a base. Sign of Weakness (SOW) in Phase B: This is marked below, indicating a loss of momentum in the downward trend and possibly setting the stage for a reversal. Upthrust (UT) in Phase B: An upthrust is noted, which could act as a false breakout above resistance levels, signaling potential distribution if price fails to hold above it. 4. Volume and Divergence Volume Divergence: Marked by Wave 5, this signals that while price may still be moving down, volume may not be supporting it as strongly, suggesting waning bearish momentum and potential for a reversal or a consolidation phase. 5. Key Support and Resistance Levels Resistance Levels: Around 2,790: This level is marked prominently as a psychological level where price might struggle to break above. Recent Swing High (2,800 - 2,810): Located near the top boundary of the corrective range and could act as resistance for upward price movement. Support Levels: 2,674.19 (0.272 Fibonacci retracement): This level acts as a potential support in the context of the current downtrend. SOW in Phase B (Zone around 2,670 - 2,675): This area might act as strong support, especially if the SOW represents the lower boundary of an accumulation phase. 6. Dealing Range and Structural Patterns The chart outlines a Dealing Range between recent swing highs and lows, suggesting a consolidation phase where price could oscillate before choosing a direction. Potential Diagonal Structure: The ongoing correction appears to be forming a potential diagonal or channel. The price is expected to follow a controlled upward move but may encounter resistance near the top boundaries of the channel. 7. Price Objectives and Probable Movements Upward Objective: Price might attempt to move towards 2,800 or higher, reaching a Phase B UT area as the corrective structure unfolds. Downward Objective: If price fails to break above the noted resistance levels and Phase B patterns, it may revisit the support zone around 2,675 - 2,680 or lower. 8. Strategic Points and Trading Considerations W Close (Wave Close): This label near the middle of the range could indicate the end of a wave and a potential consolidation or reversal area. Stop Loss Considerations: Noted as "Good Stop Loss Till STD Hit," suggesting an area where a standard stop loss could be placed, possibly below the recent lows or swing points for managing risk. No Money Protected Swing: A cautionary note near the support area suggests an awareness of risk in this region. Summary of Key Takeaways Price is currently in a corrective phase, possibly forming a complex wave structure after completing a primary downtrend. Key resistance levels around 2,790 - 2,800 and support levels near 2,670 - 2,675 are crucial to watch. The Wyckoff structure and volume divergence suggest a potential base-building phase, though a clear breakout of the range is needed to confirm the direction.
FX:XAUUSDLong
by spacedevil
1
XAUUSD is waiting for the FOMCWhere should XAUUSD goes? XAUUSD is currently in fibonacci 1.618 area and have the ABC movement. After Donald Trump wins the election, DXY becomes quite strong which push the gold move downward after reaching all time high before I am seeing XAUUSD will move up because we expect Fed will cut the rate Waiting for confirmation in M15 to create new high and put the stop loss in 2630-2640 area and XAUUSD shuold not break the downward trendline. Good luck!
OANDA:XAUUSDLong
by MekarTrading
Gold Drops as USD and Bond Yields SoarGold (XAU/USD) is struggling to capitalize on its recent recovery. Strong demand for the U.S. dollar (USD), supported by polls showing Republican candidate Donald Trump leading in key battleground states, is putting pressure on the precious metal. Additionally, the sharp rise in U.S. Treasury yields and the increasing risk appetite are further limiting the appeal of gold, a non-yielding asset. Looking at the 4-hour technical chart, gold is fluctuating between 2.735 and 2.739, continuing its downward trend. The 2.725-2.720 zone is expected to remain a strong support level, and if gold breaks below this range, it could quickly slide toward the 2,700 level. On the other hand, the 2.748-2.750 zone is currently the nearest resistance, preventing gold from moving higher and causing it to fall below this level. This is my prediction. What do you all think about gold's price today?
OANDA:XAUUSD
by Alisa_Rokosz
Gold price analysis November 5Fundamental Analysis Gold prices reversed intraday losses to hit a more than one-week low and traded around $2,738, largely unchanged on the day ahead of the European session on Tuesday. Safe-haven demand stemming from a bitterly contested US presidential election and the risk of escalating geopolitical tensions in the Middle East provided some support for the precious metal. Furthermore, the unraveling of the “Trump deal”, coupled with bets that the Federal Reserve will cut interest rates further amid signs of a cooling US labour market, continued to drag US Treasury yields lower. This, in turn, fueled fresh US dollar selling and became another factor in favour of non-yielding gold amid cautious sentiment across global equity markets. However, the upside momentum in Gold remains limited as traders seem reluctant to place positive bets ahead of the key event risks this week – the US presidential election and the Federal Open Market Committee (FOMC) meeting. Meanwhile, the release of the US ISM Services PMI Index on Tuesday will be looked at for short-term trading opportunities later in the North American session. Technical Analysis Gold is trading sideways in a narrow range between 2747 and 2725. Today the market is focused on this range as it breaks out of the notable port zone of 2758-2760 and 2712-2710 to generate reasonable BUY and SELL signals. Today’s strategy is quite basic in a day when gold is trading dull and trendless.
OANDA:XAUUSD
by TVS-Trader