The fundamental outlook for gold is less positive, as is its near-term technical price action. If gold prices close this month below $2,300 an ounce, Next week will be an important test for gold. This level has become an important pivot point. Gold appears to be overbought on the monthly chart, and a midweek close below $2,300 would cast a considerable shadow...
The US Dollar Index is entering accumulation and recovering after 2 days of decline, making gold priced in US Dollars less attractive thanks to direct correlation. The short-term appeal of precious metals still remains. weak as tensions in the Middle East ease and safe-haven demand weakens. The gold market has been less affected by the escalating conflict in the...
US GDP data for the first quarter of 2024 was lower than expected, increasing speculation that the Federal Reserve may reduce borrowing costs. However, inflation has risen sharply over the same period, which will delay the Fed's interest rate cuts. The U.S. Bureau of Economic Analysis reported on Thursday that U.S. gross domestic product (GDP) grew 1.6%...
Gold prices lost the $2,300 mark last night as data from the US showed that labor costs are rising, thus pushing up inflationary pressure. As a result, the Fed will need to be more patient in lowering interest rates, as Fed Chairman Jerome Powell announced two weeks ago. Gold price is trading at $2,292/ounce, up slightly by 0.27% after falling more than 2% on...
price bounced at support level after formation of a bullish bat pattern ; Price might rise to retest 2340level PS never risk more than 2% of your capital per trade
Daily live trade with XAUUSD in 15m/30m/1h 20240501
Dear all friends after a break now Im here with you. We have a new downtrend for XAU after days : Im going to be ready for tommorow and scalp gold. follow this Idea I will update it on Monday ...
Gold has bounced from the weekly FVG, followed by the breaker and AMD narrative as per my previous analysis below. In the cot data, we can see a little bit of profit taking from longs in the last two weeks, but no shorts added at all, this confirms my bullish idea. Resistance levels: 2365, 2380 Support levels: 2320 Previous Analysis: Video...
Gold (XAU/USD) could rise towards a pullback resistance and potentially reverse off this level to drop lower. Sell entry is at 2,324.27 which is a pullback resistance that aligns with the 61.8% Fibonacci retracement level. Stop loss is at 2,375.00 which is a level that sits above the 127.2% Fibonacci extension level and a pullback resistance. Take profit is at...
Yesterday, the market responded news reports by rebounding from the support level. It formed a fake breakout of the previous week low. I think the OANDA:XAUUSD might pullback toward the round numeber at 2300 then move upward. Since we have another upcoming news today, there is a chance that the price may roll back. Basically, I expect the price to continue...
Traders, Here's a breakdown of the current situation: Daily Chart: Despite a bullish channel, recent candles show signs of weakness, warranting caution. 4-Hour Chart: The trendline has been breached, and a reversal to this broken level is underway, indicating a potential shift in momentum. Intraday: A pivotal point coincides with previous significant zones,...
The market is waiting for Powell's speech, who will give comments on interest rates. Traders lay in the situation the fact that Powell may give a tough comment on the current situation and leave the rate at the same level. Support levels: 2305, 2267 Resistance levels: 2328, 2344 Technically the correction continues. This correction is formed on the basis of...
New up trend if broke the trend line another big dump
Gold technical analysis Daily resistance is 2361, support below is 2320 Four-hour resistance is 2361-69, square support is 2334-25 Gold operation suggestions: Judging from the current trend, the short-term support below will focus on 2334-25, the important support will continue to focus on around 2319, and the pressure on the top will focus on the 2361-69 area....
Hello everyone How gold will move for this week between 2290$ and 2373? We have a buy zone which starts at 2299$- 2290$ as well as the zone of 2362$-2373$ can bring gold down to a target of 2299$, however if gold close a 4H candle above 2373$$ it will go up to 2497$ Just keep in mind that this is my analysis and it's always important to be cautious when trading.
AFter the Price reach 2430 price of GOLD retrace on the 2nd weekly candle with a 50% retracements. This idea base on the continue move upside of TVC:GOLD it might clear the previous high! I will Update once price Hit the target 1. This is only 1H timeframe. THis idea is base on my understanding only, if this works for you, then trade it or leave it be. This...
Happy Holiday in Singapore DISCLAIMER This is not financial advice; you are trading at your own risk. Never risk more than you are willing to lose. Gold/USD (XAUUSD) Ideas For 01 May 2024 SELL LIMIT Order: $2316.86 Stop Loss: $2336.66 Take Profit 1: $2297.30 Take Profit 2: $2271.30 Risk per trade: 0.5%. MT4/5 trade expiration: Today 100% mechanical...
XAUUSD has maintained a robust bearish trajectory without any discernible divergence noted on the 1-hour timeframe. Notably, recent price action has exhibited the formation of a bearish rectangle pattern, reinforcing the prevailing downtrend. A potential scenario could unfold if the price breaches the 2287.91 level, potentially extending the downward movement...