Upon reviewing the gold chart on a weekly timeframe, we observe that after closing at $2393 last week, the price began a steep decline and even corrected to $2295! After constructing bullish candles for five consecutive weeks, this week we are witnessing the formation of a bearish candle, and it remains to be seen how far this decline will continue. If the price...
OANDA:XAUUSD took liquidity below the weakly low. On the daily timeframe, the price formed an inside price action pattern. As we can see, the market rejected the support level by creating a long-tailed bar. Since we have upcoming news today, there is a chance that the price may pull back. I think the market might keep moving upward, approaching the resistance...
Hey Everyone, Great start to the week with our chart idea playing once again in true level to level fashion!! Price was sitting between two weighted levels, 2354 resistance and 2327 support and we were looking for either weighted level to break and lock to confirm the next range. We got our bearish target hit first at 2327. No lock below confirmed the rejection...
Hey Everyone, Once again our chart is playing out level to level. Yesterday we got our bearish target hit first at 2327 with no lock below and therefore confirmed the rejection and gave the perfect bounce inline with our plans to buy dips for a nice clean catch. Today we got the lock below 2327 opening the retracement range, which was hit perfectly and gave...
Gold prices recorded a slight decline after recent losses as traders continued to price in higher longer-term US interest rates ahead of the US Federal Reserve (FED) meeting over the weekend . The yellow metal fell from record highs reached in early April as safe-haven demand weakened in the absence of any escalation between Iran and Israel. This makes gold...
Hey Everyone, Please see our updated 1h chart levels and targets for the coming week. We are seeing price play between two weighted levels 2351 resistance and 2333 support. We will need to see either weighted level break and lock to confirm the next range. We will need to see ema5 lock above 2351 to further open the range above or a rejection will follow to...
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...
The Federal Reserve is expected to announce its monetary policy decision from the April 30-May 1 meeting. It is anticipated that borrowing costs will remain unchanged at 5.25% to 5.50% and forward guidance will stay the same. The focus will be on Fed Chair Powell's press conference for insights into the policy outlook, as there are no new economic projections at...
Gold prices are seeing a negative start to a new week on Monday after recording a weekly decline. Gold prices are burdened by resurgent US dollar (USD) demand and a risk-on market mood amid weakening Japanese markets during the holiday season. Gold market assessment recorded positive developments. World gold price reached support level of 2,300 USD/ounce. In...
Hey Everyone, A piptastic day on the charts today kicking off the new month with blues. Yesterday we got the lock below 2327 opening the retracement range, which was hit perfectly and gave the 30 to 50 pip bounce inline with our plans to buy dips also covering any premature entries. We then stated that we will now wait for this area to support and head for the...
Hey Everyone, Please see our 4H chart update from Sunday with just our swing range updated. We had our Bullish target hit at 2389 start of the week followed with no ema5 lock above, confirming the rejection into the bearish target. Bearish target at 2354 was hit followed with a cross and lock below this level opening the retracement range at 2326, which was hit...
From a technical point of view, the daily star K-line has fluctuated within a narrow range for four consecutive trading days. The decline was only at the beginning of the week. Judging from the current structure of the daily line, it is still a correction. After the previous decline, it did not quickly recover the lost ground, but fell into the consolidation and...
Gold prices are still limited in a narrow range as traders prefer to stay on the sidelines. Bets on Fed rate cuts will revive USD demand and act as a headwind for metals. Investors are now waiting for the FOMC decision and US macro data before placing directional bets. Gold prices are likely to fall back to the area of 2,305 USD/ounce, losing all the gains...
From a technical point of view, today's market situation: On the daily chart, there was a negative line yesterday. It can also be seen that the market has closed negative many times since 2431, and the double indicators are still crossing downwards, especially KDJ, which had an upward limit before, and now starts When the price goes down, the upper track of the...
OANDA:XAUUSD ANALYSIS - Now that the risk of a broader conflict in the Middle East has subsided, gold attempts bulls look to a softer dollar to prop up prices - Gold (XAU/USD) attempts to lift off of support at $2320 OANDA:XAUUSD BULLS LOOKS FOR INSPIRATION IN THE DOLLAR AFTER TENSIONS SUBSIDE Implied gold volatility (GVZ) has experienced a notable drop...
Gold at the historical past of greenback correction is strengthening to the resistance of the bearish channel, which became shaped at the historical past of sell-offs. Ahead of robust information, at the historical past of which the charge may also attain the liquidity area earlier than similarly decline. On the excessive timeframe, a fake breakdown of guide is...
Gold had a sharp decline yesterday. After a slight rebound at the opening, gold began to fluctuate and fall, falling below the support all the way. It fell below the 2300 mark in the US market. It hit the lowest line of 2284 US dollars in the evening, and finally closed at 2285 US dollars. The daily line Closed at a big negative line. Wednesday will usher in the...
OANDA:XAUUSD market made a notable decline over the week, but it has now rebounded from the key support level at 2300. It's probable that we might see further consolidation because any market cannot move straight up for a long time; it moves in ebbs and flows. This consolidation will likely involve the typical sideways movement and market noise of the gold...