XAUUSD wait for more fall soon below 2500$We were looking for this dump from 2800$ and not it is hitting our targets and our daily support is touching too.
DISCLAIMER: ((trade based on your own decision))
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XAUUSDK trade ideas
XAUUSD, 15-MINUTES TIMEFRAME CHARTXAUUSD, 15-minute timeframe chart
General outlook
XAUUSD has been under selling pressure within the last couple of hours . The pair moved up to the support level of 2,599.00.
Possible scenario
The best way to use this opportunity is to place a buy order at 2,600.
Set your stop loss at 2,590. below the previous low ($10.00 loss for 0.01 lot) and take profit at 2,625. ($25.00 profit for 0.01 lot).
The risk-reward ratio for this order is 1:1.
NEW IDEA FOR GOLD By examining the trend in the four-hour time frame, gold has an important support range in the range of 2624-2611, and now, if it is maintained, there is a possibility of price increase to the resistance of $2674.
When will the gold adjustment end?
Risk Warning on Monday
Undecided, Japan convenes a special parliament to elect a prime minister.
Trump's victory not only triggered a sharp reaction in the market, but also made investors pay deep attention to the potential impact of future policies. Over the past month, the uncertainty risk of the general election has been the focus of the market, and the election has led to capital outflows from metals to other assets. This capital flow reflects the market's optimistic expectations for Trump's policies, especially the economic stimulus measures he may implement.
Although the Federal Reserve cut interest rates by 25 basis points last Thursday, Powell expressed caution about further rate cuts, which changed the market's expectations for the Federal Reserve's monetary policy. Interest rate futures show that the market's probability of the Federal Reserve cutting interest rates in December has dropped from 72% to 64%, while the probability of keeping interest rates unchanged has risen to 36%. This change reflects the market's expectations of economic growth and rising inflation that may be caused by Trump's policies.
The US dollar index rose 0.59% to 104.95 on Friday, with a weekly increase of 0.61%. The strong performance of consumer confidence also provided support for the US dollar. According to survey results, US consumer confidence rose to a seven-month high in early November. This data was released before the election and showed optimistic expectations of households for the future. The market is waiting for further clarity on US policies. Until then, the dollar will trade based on economic data and expectations of the Fed's easing path. This view emphasizes the importance of economic data in the current market environment.
Although Trump's economic policy proposals, including increasing trade tariffs, cracking down on illegal immigration, lowering taxes and relaxing business regulations, may promote economic growth and inflation, there is still great uncertainty about the specific implementation of policies in the short term. The market is trying to figure out the gap between Trump's policy promises and actual feasibility.
Trump's election may put the US fiscal health at greater risk, especially in the absence of effective measures to limit the fiscal deficit. This view further deepens the market's attention on future economic policies.
Geopolitical factors are also affecting the gold market. The continuation of the Russia-Ukraine conflict and turmoil in the Middle East may limit the correction space of gold prices in the medium and long term. Although the uncertainty of US domestic policies has exacerbated market volatility, the tense international situation has also provided a certain safe-haven demand for gold.
After the dust settled on the US presidential election, the gold market has seen significant fluctuations. Last Friday, the price of gold fell 0.8% and the weekly line fell 1.85%, hitting the largest weekly drop in more than five months.
Today, investors are paying attention to the daily support area of 2650 below. After gold has stabilized after a correction, continue to participate in gold bulls and pay attention to the continuation of the gold bull daily line.
At the same time, today is the US Veterans Day and the Armistice Day of World War I. Banks and bond markets in Europe and North America will be closed, but other markets will be open as usual. Investors need to pay special attention.
GOLD BEST PLACE TO BUY FROM|LONG
Hello, Friends!
Bullish trend on GOLD, defined by the green colour of the last week candle combined with the fact the pair is oversold based on the BB lower band proximity, makes me expect a bullish rebound from the support line below and a retest of the local target above at 2,788.663.
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Gold price is trending down ? Why ? World gold prices dropped to their lowest level in nearly 2 months due to pressure from the strong recovery of the USD. Recorded at 8:33 a.m. on November 13, the US Dollar Index measuring the fluctuation of the greenback with 6 major currencies was at 105,897 points (up 0.04%).
The inverse relationship between gold and the USD seems to have disappeared in recent times. However, since the US presidential election, this relationship has returned strongly.
The USD is expected to benefit from some of the policies of US President-elect Donald Trump, as they will likely cause US interest rates to remain relatively high for a longer period of time and that will be unfavorable environment for gold.
Next week's economic calendar is quite bleak, especially when compared to last week's boom. The main economic news events to watch will be the US core CPI on Wednesday. The US Federal Reserve (FED) is expected to closely monitor CPI for signs that consumer inflation is continuing on its path towards 2%.
Thursday's US PPI report, weekly jobless claims data and Friday morning's US retail sales release for October will also provide specific data on Americans' purchasing power in the current high-cost environment.
🔥 TVC:GOLD BUY 2590 - 2592🔥
💵 TP1: 2600
💵 TP2: 2610
💵 TP3: OPEN
🚫 SL: 2583
🔥 TVC:GOLD SELL 2628 - 2630🔥
💵 TP1: 2620
💵 TP2: 2610
💵 TP3: OPEN
🚫 SL: 2637
GOLD UPDATE: First Trade Floating +520 Pips. What's Next?Great start for the week! My final target hasn't been hit yet, floating +520 pips in profit. I'm expecting a pull back to retest QP 2650 which has a 38.2 fib confluence. I will be looking for some bearish price action around this level for a possible second entry. My final Target is still major QP 2600.
What are your thoughts on GOLD? Feel free to leave a comment and share your ideas.
Gold Prices Plummet Amid Rising Risk AversionAfter a slight uptick yesterday, global gold prices took a sharp downturn on the morning of November 9th. Spot gold declined by $24.2 to $2,685 per ounce, while gold futures fell $21.5 to $2,692 per ounce.
The surge in the US dollar following the recent political shift has put significant pressure on gold prices. As markets adapt to potential policy changes, investors are shifting towards riskier assets, leading to a sell-off in gold.
Analysts predict that gold prices may fluctuate within a support range of $2,640 to $2,700. A breach below the $2,640 level could signal a further decline toward the next support at $2,600. However, the long-term outlook for gold remains optimistic, underpinned by expectations of interest rate cuts and persistent geopolitical tensions.
Scalping ! XAU ! Trendline Recovery 2678SCALPING XAU / USD
⭐️Smart investment, Strong finance
⭐️GOLDEN INFORMATION:
The US Federal Reserve’s policy decision on Thursday is in focus, with markets widely anticipating a 25 basis point rate cut, which could support gold by lowering the opportunity cost of holding non-yielding assets.
According to the CME FedWatch Tool, there is a 98.1% chance of this quarter-point cut in November.
⭐️Personal comments NOVA:
Trendline + DOW , Gold price recovered briefly - for the upcoming decline to 2606
⭐️SET UP GOLD PRICE:
🔥SELL GOLD zone: $2668 - $2670 SL $2673
TP1: $2665
TP2: $2662
TP3: $2658
⭐️Technical analysis:
Based on technical indicators EMA 34, EMA89 and support resistance areas to set up a reasonable SELL order.
⭐️NOTE:
Note: Nova wishes traders to manage their capital well
- take the number of lots that match your capital
- Takeprofit equal to 4-6% of capital account
- Stoplose equal to 2-3% of capital account
How long can the gold shorts last?
Since the current market is dominated by shorts and there is no clear signal to stop the decline, the gold price is still facing downward pressure. Therefore, in the short term, we should maintain a high-altitude mindset and sell short on rebounds. At the same time, we can try short-term long orders at appropriate low levels, but be cautious.
The daily chart shows a short arrangement, and the upward channel has been broken, and the price trend is still bearish. It is recommended to pay close attention to the closing of the daily line. If the daily line continues to maintain a negative line, the short trend will be more obvious, and the short-selling strategy should still be maintained.
During the adjustment process of the 4-hour and 1-hour lines, the gold price failed to rebound continuously, and the callback pressure was relatively large. Judging from the low point of the 1-hour line, if the price fails to break through the key rebound point, the short pressure is still strong.
Key position: 2595-2605 area
When the gold price rebounds to the 2595-2605 area, this area may encounter strong short pressure. If the price tests this range and a reversal signal appears, you can consider shorting.
Target support level below: 2550, 2533, 2487
The short position target is set at the support level below, especially at 2533 and 2487. If the price continues to weaken, it may fall further.
If the gold price shows a stabilization signal during the decline and rebounds to around 2560, you can try to arrange short-term long positions. At this time, the upper resistance level is still in the range of 2574, 2585, and 2592. If the rebound fails to break through these resistances, it may fall again.
Target: 2574, 2585, 2592
These target levels can be used as exit points for short-term long positions, especially when the rebound is weak, to lock in profits in time.
Given the volatility of the market, especially when the price approaches key support or pressure levels, stop loss is very important. For example, when shorting, a stop loss can be set near the 2595-2605 area to prevent the risk of a strong rebound. For low long positions, you should also pay attention to timely stop profit if the price fails to break through the predetermined target level.
In the short term, the trend of gold prices is still weak, and the situation dominated by short sellers has not changed fundamentally. For short-term operations, short orders can be arranged through rebounds. The key resistance level is in the 2595-2605 area. At the same time, low longs can be tried at appropriate positions. It should be noted that there is no obvious sign of stopping the decline in the current market, so when operating, it is necessary to avoid blindly guessing the bottom and respond flexibly to market changes.
GOLD FALLS TO $2,605Price is currently on a shorterm sell despite the overall bullish trend in monthly & weekly chart. Price trades at 2605. Are we going to experience further correction or are we likely going to see the end of the Correction at this zone? $2,605 is a crucial price to watch out ahead of the upcoming US economic reports
GOLD.. breakout? What's next ??#GOLD... perfect move as per our last idea now market just break his today one of the most important resistance .
Buy above 2572 below closing mean it's invalid..
Good luck
Trade wisely
XAU/USD H8 AnalysisAfter printing an all time high at circa $2790 per troy ounce last month, Gold has been making a steady decline over November. The bullish run could previously be seen in an upward channel, but with price now breaking out and closing below the channel, we could be now looking a change of sentiment.
At the end of last week, Gold was looking to be retesting the bottom of the channel. In the new trading week, we could see a further decline in price as the sellers authority continues to take control of the market.
XAUUSD : Head and Shoulders PatternTrading Setup:
A Trading Signal is seen in the Gold XAUUSD h4
Traders can open their Sell Trades NOW
⬇️Sell Now or Sell on 2740.8
⭕️SL@ 2763.8
🔵TP1@ 2686.5
🔵TP2@ 2660.1
🔵TP3@ 2586.1
What are these signals based on?
Classical Technical Analysis
Price Action Candlesticks Fibonacci
RSI, Moving Average , Ichimoku , Bollinger Bands
Risk Warning
Trading Forex, CFDs, Crypto, Futures, and Stocks involve a risk of loss. Please consider carefully if such trading is appropriate for you. Past performance is not indicative of future results.
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GOLD NEXT MOVE (expecting a bearish move) (11-10-2024)Go through the analysis carefully and do trade accordingly.
Anup 'BIAS for the day (11-10-2024)
Current price- 2653
"if Price stays below 2670, then next target is 2643 and 2630 and above that 2690 ".
-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.
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GOLD MARKET ANALYSIS AND COMMENTARY - [Nov 04 - Nov 08]This week, after rising to 2,790 USD/oz, OANDA:XAUUSD then continuously dropped sharply to 2,733 USD/oz and closed the week at 2,736 USD/oz.
According to the US Bureau of Labor Statistics, the US's October non-farm payrolls (NFP) report showed that the country only created 12,000 jobs, significantly lower than the forecast of 100,000 jobs due to the impact of the coronavirus pandemic. recent storms. Although the US economy created fewer jobs than expected, the country's unemployment rate in October remained unchanged at 4.1%.
Meanwhile, wage inflation increased. Specifically, average hourly earnings increased 0.4% last month, higher than the forecast of 0.3%. In particular, the US's basic Personal Consumption Expenditures (PCE) Index for October - the FED's favorite inflation measure - remained at a high level of 2.7%, unchanged from the level of July and October.
All of the above economic data show that the FED is in a difficult position when production activities decline sharply, the labor market weakens, but inflation remains continuously high.
However, many forecasts are likely that the FED will still cut interest rates by another 0.25% next week, but will cautiously announce the direction of interest rate cuts in the next meetings.
In addition to the FED meeting, next week there will also be the US Presidential election on November 5. According to forecasts of many experts, it is likely that Donald Trump will be re-elected as US President. If Mr. Trump becomes US President in the next term, he will impose strong tariffs on imported goods as promised during the election campaign. This will push inflation up, forcing the FED to delay interest rate cuts, and may even have to raise interest rates again.
Thus, next week's gold price is at risk of being double-impacted by the FED meeting and the US presidential election.
📌Technically, in the H4 chart, gold price still shows a clear uptrend when the price trades above the EMA89 moving average. Next week, if gold prices still trade above the 2720 threshold, we can expect gold prices to continue to maintain an upward trend. In case the price will return to a downward adjustment cycle if the 2710 support zone is broken, correspondingly in the H1 chart, the gold price forms a head and shoulders model. If this model is correct, the gold price will find its way back around mark 2650.
Notable technical levels are listed below.
Support: 2.700 – 2.710 – 2.720USD
Resistance: 2.786 – 2.768 – 2.745USD
SELL XAUUSD PRICE 2776 - 2774⚡️
↠↠ Stoploss 2780
BUY XAUUSD PRICE 2649 - 2651⚡️
↠↠ Stoploss 2645
GOLD DAILY CHART SHORT/MID TERM ROUTE MAPHey Everyone,
Please see update on our daily chart idea that we have been tracking for a while with the updated retracement and swing range.
Previously after completing 2725 target, we stated that we had a candle body close above 2725, opening 2760. Although ema5 is lagging on this chart but we still also got the ema5 cross and lock to further confirm this target.
- This was hit last week completing this target!!!
We now have a candle body close above 2760 for a continuation above with a gap open to 2797, but no ema5 lock, which would further confirm this. Failure to complete this gap will see price test the retracement range for bounces and a further lock below the retracement range will open the swing range.
We will keep the above in mind when taking buys from dips. Our updated levels and weighted levels will allow us to track the movement down and then catch bounces up.
Our long term bias is Bullish and therefore we will continue to use our smaller timeframes to buy dips using our levels and setups.
Buying dips allows us to safely manage any swings rather then chasing the bull from the top.
Thank you all for your likes, comments and follows, we really appreciate it!
Mr Gold
GoldViewFX
11.7 Analysis of Short-term Gold OperationsOn Wednesday (November 5), gold prices fell below $2,700 as the dollar rose after Republican Donald Trump was elected as the US president after his amazing political comeback. Now it is trading sideways at $2,666.
Technical analysis:
Gold has key positions of support and resistance in the short term. At this stage, the $2,680-2,675 area constitutes an important support level for gold. If the gold price falls below this level, it may accelerate downward to test the support area below $2,650, which is the lower edge of the short-term rising channel since July. If it falls further, the next support range of market attention will be concentrated around $2,665, and further explore the $2,640 line.
At the same time, if the gold price rebounds, the $2,748-2,750 area may constitute the first resistance level, and the key resistance above is in the $2,780-2,785 range. If it can stand firm in this range, it may be expected to return to the $2,800 mark. It is worth noting that the $2,800 mark, as the pivot point of the long-term upward trend, will be of great significance to the bulls. If it can be steadily broken through, it may restart the upward trend.
BUY:2660
First target 2680
Second target 2700
Third target 2720
WEEKLY CHART MID/LONG TERM ROUTE MAPHey Everyone,
Please see update on our weekly chart idea that we have been tracking and trading over the last 4 weeks.
Last week we stated that we had a candle body above 2729 leaving long range gap open to 2856 and Ema5 lock will further confirm this long range target.
- We got a nice push up, which we took using our smaller timeframes but the gap remains open and we are yet to see the ema5 lock to further confirm this.
We will also be keeping in mind the channel top for long range corrections, which is likely to provide support like we stated before, if tested at all.
As stated before if the channel top continues to provide support then we will track the movement up, confirmed with ema5 cross and lock or candle body close.
However, if we continue to see tests on the channel top and then get a break inside the channel, then we will track the movement down, inline with our plans to buy dips, using our smaller time-frames, keeping in mind the long range gap for the future..
Buying dips allows us to safely manage any swings, instead of chasing the bull from the top.
Thank you all for your likes, comments and follows, we really appreciate it!
Mr Gold
GoldViewFX
GOLD - Price can bounce up from support area to $2785Hi guys, this is my overview for XAUUSD, feel free to check it and write your feedback in comments👊
Recently price entered to falling channel, where it at once fell below a support level, but soon backed up.
Then it continued to decline and later broke $2645 level one more time, after which reached the support line.
Gold bounced and exited from the falling channel, and started to grow inside the pennant, where it soon broke $2645 level again.
After this, the price made a first gap and later rose to $2735 level, where it some time traded near and broke it too.
Next, price made a second gap, reached the resistance line of the pennant, and then declined to the support area.
In my mind, Gold can little correct and then bounce up to $2785 from support area, exiting from pennant.
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