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GOLD / US DOLLAR GRAMGOLD / US DOLLAR GRAMGOLD / US DOLLAR GRAM

GOLD / US DOLLAR GRAM

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GOLD_119 2024.11.04 19:01:05 Trading Signal BUYFrankPro Signal for GOLD_119 Type: Screen Signal: BUY TP: 2759.99 SL: 2734.25 Entry Price: 2738.54 Analysis for GOLD Forecast Overall(Short-Term, Long-Term): ST= Strong Down LT= Strong Up Forecast Methods(Short-Term, Long-Term): ST=Down LT=Up ST=Down LT=Up ST=Down LT=Up Analysis Method(0) Based on the provided analysis, I will provide separate short-term and long-term predictions for the XAU/USD price. **Short-term (next few days):** The price is expected to be volatile due to the upcoming US presidential election and the Fed's rate decision. The technical analysis suggests that the price is currently finding support near the $2,730 demand area, and the 14-day RSI indicates revived buying interest. However, bearish signals, such as the Head and Shoulders pattern on the 4-hour chart and a fake breakout on the daily chart, suggest potential selling opportunities. Given these mixed signals, I predict that the price will likely **stay the same** or experience a **slight decline** in the short-term, potentially testing the support level near $2,711. However, a breakout above $2,800 could signal continued growth. **Long-term (next few weeks/months):** The analysis suggests that gold prices continue to move within an ascending channel, indicating a bullish trend. Moving averages indicate pressure from buyers, and a rebound from the support line on the RSI could signal further price growth. The growth scenario suggests a potential target above the $3,175 level. Given this bullish outlook, I predict that the price will likely **go up** in the long-term, potentially reaching the $3,175 level or higher. However, a breakout below $2,475 would indicate a continuation of the fall. Please note that these predictions are based on the provided analysis and are subject to change as new information becomes available. Result: ST=Down LT=Up Analysis Method(1) Based on the provided analysis, here is my assessment of the expected price movement for XAU/USD (Gold) in both the short-term and long-term: **Short-term (next few days to a week)** * The price is expected to stay the same or experience a slight decline. The market is cautious ahead of the US presidential election and the Federal Reserve's policy announcements, which may lead to a temporary consolidation or a small pullback. * The support level near $2,730 is crucial, and if it holds, the price may rebound. However, if it breaks, the price could test the $2,718 or $2,700 levels. * The 14-day RSI indicates revived buying interest, but it's not strong enough to suggest a significant short-term uptrend. **Long-term (weeks to months)** * The price is expected to go up. The forecast suggests that gold may test the support level near $2,690 before rebounding and continuing its growth, with a target above $3,175. * A breakout above the $2,905 resistance area would confirm the growth scenario, and a successful breakout above $2,800 could lead to a test of the all-time high at $2,790. * The overall outlook is bullish, with the market expecting a continuation of the uptrend once the uncertainty surrounding the US election and Fed's policy announcements is resolved. Please note that these assessments are based on the provided analysis and are subject to change as new information becomes available. Result: ST=Down LT=Up Analysis Method(2) **Short-term Analysis (Next few days)** Based on the technical analysis and market context, I expect the gold price to remain volatile in the short-term, with a slight bias towards a pullback or correction. The 14-day RSI is near 60, indicating some buying interest, but the price is still below the $2,746 resistance level, which is the 23.6% Fibonacci Retracement level of the recent rally. The key support levels at $2,730 and $2,718 are crucial, and a failure to hold above these levels could lead to a drop to around $2,711. Additionally, the market is cautious ahead of the US presidential election and the Fed's policy announcements, which could lead to price movements of at least $100 in either direction. **Prediction:** Short-term price movement: **DOWN** (with a target of around $2,711) **Long-term Analysis (Next few weeks/months)** In the long-term, the gold price is expected to continue its growth trend, with a potential target above the $3,175 level. The ascending channel and the 21-day SMA at $2,700 provide a strong support base for the price. However, the long-term outlook is highly dependent on the outcomes of the US presidential election and the Fed's policy decisions. A dovish Fed and a risk-off sentiment could lead to a surge in gold prices, while a hawkish Fed and a risk-on sentiment could lead to a correction. **Prediction:** Long-term price movement: **UP** (with a target above $3,175) Please note that these predictions are based on the available data and are subject to change as new information becomes available. Result: ST=Down LT=Up
CAPITALCOM:GOLDLong
by orbborisson
Keeping my Selling order / #2,652.80 benchmark TargetFundamental analysis: Within turbulence caused by the U.S. presidential election and Head and Shoulders pattern aftermath, Gold finally broke through the Channel formed since the beginning of August. This does not change the Long-term Bull outlook for now, but the correction now is promising to be greater than the last couple of times. The Bottom line of the next Channel can be the February one, which represents Sellers goal (#2,592.80 – #2,600.80). As Fundamental effects usually correct back half of the Price-action change in the short period that follows, a retest of the Lower line of the August channel seems very likely. Based on this, the obvious strategy is to re-Sell Gold on bigger charts from the psychological levels / benchmarks (these are also Fibonacci retracement levels for the full or local decline). Technical analysis: So far so good as my first Selling Target is concluded near #2,682.80 Weekly Bottom and local Low's. Overbought Technicals prevailed followed by a strong Bearish reversal in form of Selling candlestick formation that Priced in a Bottom with #2,682.80 as first signs of new-old Support zone appearing, on a Hourly 4 chart’s Three Black Crows candle extension. Despite this, both Hourly 1 and Hourly 4 chart were completely Overbought, and current sequence on Gold was Natural response to such Technical development. No Moving Average still supports Buying bias on any chart, however this is typical Price-action behaviour near Daily chart’s local Bottoms or Top’s. Reversals are not evident and remember that the #2,652.80 - #2,662.80 is a heavy downside Support zone. For now as expected, no signs of Bullish reversal. On such a range bound session, Gold value continues to operate within my Hourly 4 chart's chart’s Bollinger bands. Market closing is adding credence to Sellers, and if market opens on Monday with Selling spike below #2,652.80 benchmark (last strong Support), break of the mentioned zone can aim for another #2,600.80 strong Support line (as cycle showcases that #2,600.80 test might be ahead. Everything in between is Price-action Daily fluctuation which contains no new clues where Price-action will Trade next. Keep in mind however that Technically I can expect Lower levels to be met and tested, however current market structure still holds Medium-term Bullish bias (since Hourly 4 chart is showcasing Bullish presence) and only if #2,700.80 psychological mark breaks and gets re-tested and market closes above (both Weekly and Daily market closing), I can expect Medium-term sentiment to regain Buying status. These multi-session gains on Gold are almost negated with respectful amount of losses Gold delivered and invalidated multi-Month Ascending Channel. My position: As I expected Fed easing the Rate and which may hurt the DX even more, I have awaited the Fed Rate announcement aftermath and engaged re-Sell order with #2,708.80 since I was aware that Gold will not deliver a move once again above #2,727.80 Medium-term Resistance zone. My order is currently running however I have missed the chance to close the order on #2,682.80 Support / even though my Profit on my re-Sell order is decent already, I will take the Risk and keep the order and close it as close as #2,682.80 Support zone in extension on overall another excellent week for me.
TVC:GOLDShort
by goldenBear88
IMBALANCE AND CONTINUEATIONPotential Scenarios Bearish Scenario: If price rejects the imbalance zone around 2,767 and starts falling, we could see a retracement towards the support area near 2,644. Bullish Continuation: If the price consolidates above the imbalance zone, it may attempt to resume an upward trend, possibly aiming for higher resistance levels around 2,800. Conclusion The imbalance zone could act as a key resistance level. If price fails to break above it, we may see a bearish move towards the support level at 2,644. However, if the price gains momentum above the imbalance, it might continue upward. Watch closely for price action in the imbalance area for further confirmation.
TVC:GOLD
by sibusisoshibambo12
1
Gold professional analysis strategy signalsLooking at the 4-hour chart, the 4-hour moving average of gold has turned downward, and there are signs that a death cross will be formed. If gold continues to fall after the opening next week, a death cross will be formed in the 4-hour chart, which will further open up room for decline. The 4-hour chart is now in a high top structure and the rebound has not returned to the long-short watershed. It is still in a top form. The 1-hour moving average of gold is still in a short position. Gold rebounded strongly in the US market, but it still did not break through the previous high. Gold is still weak. Gold fell under pressure from highs and is still bearish overall. Gold can continue to be short if it rebounds below the US high of 2703, and can continue to be short if it rebounds to 2700 next Monday. On the whole, the short-term operation strategy for gold next Monday is to short on rebounds and long on pullbacks. The short-term focus on the upper side is the 2708-2710 resistance line, and the short-term focus on the lower side is the 2640-2643 support line. Strategy 1: Short (buy down) two-tenths of the position in batches near 2698-2700 in the early trading, stop loss 6 points, target near 2680-2660, break to see 2645 Strategy 2: Long (buy up) two-tenths of the position in batches near 2643-2645, stop loss 6 points, target near 2665-2675, break to see 2680
OANDA:XAUUSD
by Scarlett-Rose
Outlook for Monday Nov. 4th - Tuesday Nov. 5th For the upcoming Monday, the outlook for gold trading suggests a potential continuation of the short term bearish trend, (post a potential push up prior) observed in Fridays sessions. Key factors to watch include any overnight developments in geopolitical tensions and economic data releases scheduled for the week, and the US election. Technical analysis indicates that support levels around 2733 is critical; if this hold, we might see a rally towards resistance at 2749 , and upwards. However, if prices break below this support, and retest, we could see increased selling pressure! Traders should remain vigilant for market volatility, and consider setting stop-loss and execute sniper entries to manage risk effectively. Overall, a balanced approach combining technical insights with current market events will be essential for navigating Monday's trading session.
OANDA:XAUUSD
by JayGrandi
2
XAU/USD 04 November 2024 Intraday AnalysisH4 Analysis: Analysis/bias remains the same as analysis dated 31 October 2024 -> Swing: Bullish. -> Internal: Bullish. Gold’s rally persists, driven by the Fed’s dovish stance and heightened geopolitical tensions, strengthening its safe-haven appeal. Price has recently printed higher highs, bringing CHoCH positioning significantly closer to current price level. A bearish CHoCH has printed, signaling the first indication, though not a confirmation, of a potential bearish pullback phase initiation. Price is now trading within an established internal range. Intraday Expectation: Price is expected to continue bearish, potentially reacting at the H4 demand zone or the discount of the H4 internal 50% EQ before targeting the weak internal high. We should however remain mindful that Daily TF is showing very early signs of bearish pullback phase initiation. Therefore, price could potentially print a bearish iBOS. H4 Chart: M15 Analysis: -> Swing: Bullish. -> Internal: Bearish. As noted in my analysis dated 01 November 2024, I mentioned that I would confirm internal structure if the price reached the premium of the 50% EQ of the internal range. Price has now achieved this, confirming the internal structure. Although price has made attempts to target the weak internal low, it has not yet succeeded. Intraday Expectation: Price is expected to continue targeting the weak internal low. M15 Chart:
OANDA:XAUUSD
by Khan_YIK
XAU/USD – Is the Uptrend Ready for the Next Move?Gold is approaching a major support level within its rising channel! 📊 Could this be the next higher low (HL) in the uptrend? If bulls step in here, we might see a push back toward the channel highs! 🚀 🔹 Key Support Levels: $2,655 is the immediate support, while $2,580 serves as a critical backstop below. 🔹 Potential Setup: Long on bullish confirmation around these supports. 🔹 My Thought: I believe Gold could be forming another HL here, potentially setting up for another push higher before any major correction. Historically Gold has shown bullish momentum leading up to U.S. elections, rallying once before turning bearish afterward. What are your thoughts? Are you bullish or bearish on gold? 💬 Drop your comments below and let’s discuss! 👇
OANDA:XAUUSDLong
by kashifone1
FOMC and Powell support GOLD, bearish outlook still prevailsOANDA:XAUUSD Spot trading rose nearly 2% yesterday when the Federal Reserve cut interest rates by 25 basis points as market predicted, causing the US Dollar to plunge and giving gold a boost. The Federal Reserve cut its benchmark interest rate by 25 basis points on Thursday, while policymakers noted a "broad deterioration" in the job market. Officials voted unanimously to lower the federal funds rate to a range of 4.5%-4.75%. Federal Reserve Chairman Jerome Powell said Trump's presidential election victory will not directly affect monetary policy. Federal Reserve interest rate cuts have put pressure on the US dollar and bond yields, while boosting the investment appeal of non-yielding gold. FOMC content In their monetary policy statement, officials acknowledged the economy is growing steadily despite slowing labor market conditions. They admitted inflation was close to the Fed's 2% target but still remained slightly high. Fed policymakers also noted that the risks to achieving their dual mandates were “roughly balanced” but acknowledged uncertainty about the economic outlook. The Federal Open Market Committee (FOMC) statement said: "The Committee believes that the risks to achieving its employment and inflation goals are balanced and that there is uncertainty about the economic outlook. The Committee concerned about the risk of achieving his dual mandate." While policymakers noted “progress” in achieving the inflation target, they neglected to mention “becoming more confident that inflation can move steadily toward 2 percent.” sustainable”. “Labour market conditions have generally eased since the beginning of this year, with the unemployment rate rising but remaining low,” the Fed statement said. Powell said the election results would not affect decision-making in the short term and that there was flexibility in future policy direction. At his post-FOMC press conference, Fed Chairman Jerome Powell avoided giving specific guidance on the future direction of interest rates, leaving room for flexibility at the December meeting and beyond. He emphasized that because the economy is strong, the Fed can take its time lowering interest rates. He acknowledged that even after Thursday's rate cut, policy remains restrained as officials aim to return interest rates to neutral levels. Regarding the pace of interest rate cuts, Powell said if the labor market weakens or slows as it approaches neutrality, the Fed could accelerate the pace of interest rate cuts. However, he clarified that no final decision has been made yet. Powell also said that in the short term, the presidential election results will not directly affect monetary policy. General assessment The Fed's 25 basis point cut boosted gold prices, on the other hand, Powell made very clear statements about the possibility and prospect of cutting interest rates and this is not beneficial for the US Dollar. A very basic knowledge is that the US Dollar is controlled by the Fed and not under the power of the US President. Therefore, even in the event that Trump is elected and boosts the US Dollar, it will still be restrained by the policy of cutting interest rates. Only if Trump can completely eliminate the Fed will the US Dollar have nothing to show for it. prevent. Of course, this is without precedent, nor has any President been able to do this. Analysis of technical prospects for OANDA:XAUUSD Although gold has recovered strongly from the 0.618% Fibonacci level confluence with the lower edge of the channel, it is still in a downtrend with the price channel as the short-term trend. On the other hand, gold's upward momentum has also been limited by the EMA21 level, and it still has enough bearish conditions when the Relative Strength Index is also showing signs of folding down from the 50 level area. If gold falls below the 0.382% Fibonacci retracement level, it will have the potential to fall a bit further with a short-term target of around 2,684 USD rather than 2,668 USD. However, in case gold moves above the EMA21 level it will tend to increase further to test the 0.236% Fibonacci level. Therefore, for open selling positions should be protected above EMA21 quite "strictly." During the day, gold still has a bearish technical outlook with notable points listed as follows. Support: 2,684 – 2,668USD Resistance: 2,700 – 2,710USD SELL XAUUSD PRICE 2736 - 2734⚡️ ↠↠ Stoploss 2740 →Take Profit 1 2729 ↨ →Take Profit 2 2724 BUY XAUUSD PRICE 2676 - 2678⚡️ ↠↠ Stoploss 2672 →Take Profit 1 2683 ↨ →Take Profit 2 2688
OANDA:XAUUSDShort
by Xayah_trading
XAUUSD Pullback Set-Up Demand at 2722 Targeting 2700The XAUUSD (gold) market has a strong initial demand zone at 2722-17 , where a pullback is expected before facing resistance at 2747-53 , which is forecast as a significant supply level. Our major aim is 2700 , which corresponds to a robust daily demand zone. Geopolitical developments are boosting gold's appeal as a safe-haven asset. Heightened tensions in the Middle East, as well as the ongoing conflict between Ukraine and Russia , have added to risk aversion, attracting investors to gold. Furthermore, the forthcoming presidential election in the United States on November 5 creates uncertainties about prospective fiscal policy moves. Historical trends demonstrate that election outcomes frequently cause volatility in gold as investors hedge against policy changes. These factors are strengthening demand at important levels, which aids our understanding of potential retracements and target zones. If you find this analysis helpful, please consider boosting this idea. Thanks!
FOREXCOM:XAUUSDShort
by bluechipfx
GOLD Massive Short! SELL! My dear followers, I analysed this chart on GOLD and concluded the following: The market is trading on 2743.3 pivot level. Bias - Bearish Technical Indicators: Both Super Trend & Pivot HL indicate a highly probable Bearish continuation. Target - 2736.6 About Used Indicators: A super-trend indicator is plotted on either above or below the closing price to signal a buy or sell. The indicator changes color, based on whether or not you should be buying. If the super-trend indicator moves below the closing price, the indicator turns green, and it signals an entry point or points to buy. ——————————— WISH YOU ALL LUCK
OANDA:XAUUSDShort
by AnabelSignals
1
GOLD UPDATE ⟶ MAXIMUM GROWTH HIT – IS A DROP COMING?Hey everyone! 👋 In my opinion, #GOLD has experienced a lot of growth and has already hit its weekly and monthly targets, so it might be due for a correction (drop) 📉. If it does continue to grow, it might only reach the second monthly target at 2811.140 before starting a drop. **My short-term growth plan:** Check out the chart on the left. In the 15-minute time frame, and considering the recent gradual drop, #GOLD could start another growth if it breaks its daily resistance (2782.823) on the 15-minute time frame 📈. This growth could continue to the following targets: - **Target 1:** 2794.722 🎯 - **Target 2:** 2801.968 🎯 - **Target 3 (final):** 2811.140 🎯 **Stop-Loss for the growth scenario:** Based on the 4-hour time frame - check the chart on the right. Given the maximum growth #GOLD has experienced, if the price drops before confirming the growth condition in the 15-minute time-frame, and a cross occurs in the MACD indicator on the 4-hour time-frame (confirming a triple divergence), a drop will begin from this area without any further growth ❌. This drop could be significant and, in the first step, could reach the following targets: - **Target 1:** 2738.165 📉 - **Target 2:** 2688.395 📉 - **Target 3:** 2597.415 📉
OANDA:XAUUSDShort
by Eldorado_Land
1
XAUUSD: The Downtrend Is Not Over YetDear Traders! Today, gold prices fell sharply, ending the week at $2,684, recording a decrease of 0.83%. The rising US dollar, fueled by political uncertainty, put a lot of downward pressure on gold. The shift of investors to riskier assets added to the selling pressure on gold in the market, reinforcing the bearish trend. Analysis of the 4-hour chart shows that gold prices are currently facing resistance at the important resistance zone of $2,700 - $2,715. The 34 EMA has crossed below the 89 EMA, a sign that sellers are in control. If the price fails to break through this resistance zone and continues to be under pressure, gold is likely to find support at $2,640 - $2,656. In the event that the price drops below $2,640, the short-term bearish outlook will become stronger, with a deeper target in the near term.
OANDA:XAUUSDShort
by Bentradegold