To analyze the gold price scenario where it corrects before rising to target levels of $2,357 to $2,362, where a selling strategy could be implemented with a stop-loss (SL) of 5 points below the entry price, we need to consider several factors that influence gold prices. This includes technical analysis and market sentiments. Technical Analysis Trend Analysis:...
Current Market Overview Gold prices often fluctuate based on various macroeconomic factors, including inflation rates, currency values, and geopolitical events. Before diving into a specific trading strategy, it's crucial to consider the current global economic environment and how it might influence gold prices. Strategy Details Buy Zone: 2330 - 2325 ...
Current Price Movement Support Zone: 2348 - 2343 Resistance Level: 2370 Correction Phase: 2348 - 2343 The gold price is expected to correct downwards to the support zone between 2348 and 2343. Reasons for Correction: Profit-taking by short-term traders. Testing previous support levels to establish a stronger base for the next upward move. The gold price is...
Current Market Overview: Gold is currently exhibiting a fluctuating trend influenced by a mix of global economic factors, including interest rate decisions by major central banks, geopolitical tensions, and fluctuations in the U.S. dollar. As of the latest data, gold prices are trading within a range, showing both bullish and bearish signals. Technical...
Overview During the Tokyo trading session, gold experienced a dramatic fall, dropping from $2375 to $2355. This sharp decline suggests significant selling pressure and potential shifts in market sentiment. In response to this movement, traders should look for opportunities to enter the market at strategic sell zones, with each trade targeting 50 pips away to...
On May 24th, the price of gold continues to show a downward trend. This analysis focuses on the one-hour timeframe, utilizing the 200 EMA (Exponential Moving Average) to guide our trading strategy. Technical Analysis Trend Analysis: Overall Trend: The price of gold is in a bearish trend, continuing to decline over recent sessions. 200 EMA as Resistance: The...
Overview On May 22nd, the price of gold experienced a notable decline, falling from $2415 to $2375. This sharp movement could be attributed to various market factors, including economic data releases, changes in investor sentiment, or geopolitical events. As we look at the price action on May 23rd, gold is anticipated to retest the $2397-$2400 zone. However,...
At the start of the week, gold prices saw a decline due to stronger U.S. Treasury yields and a rebound in the U.S. dollar. This led to a moderate pullback from its recent peaks, although the price of gold still remains relatively high historically, influenced by persistent economic and geopolitical uncertainties. Analysts predict that gold prices may rise later...
Current Market Situation Gold prices have been experiencing a bullish trend, recently approaching the resistance zone of 2397-2400. This movement is significant as it indicates a potential test of this critical resistance level. Scenario 1: Immediate Upward Movement In the first scenario, gold continues its upward trajectory and tests the 2397-2400 resistance...
Gold price extended its uptrend for the second straight day on Wednesday and hit a three-week high of $2,390 after data revealed by the US Bureau of Labor Statistics showed inflation is ebbing, increasing the odds for a Federal Reserve rate cut in 2024.
Technical analysis from TradingView highlights that gold recently touched $2,360 and even approached $2,380 before facing some resistance and correcting downwards. Despite this, the sentiment remains that a round bottom pattern may indicate potential growth in prices, with key levels being watched at around $2,365 and $2,379 (TradingView). The ongoing...
Technical Analysis Support and Resistance Levels: Support Level at $2400: This level has proven to be a strong support as prices have rebounded after reaching this level. It indicates that there is significant buying interest at this price point. Resistance Levels: As gold moves up, the next resistance levels to watch would be around $2450 and $2500. These...
BUY XAUUSD 2334-2329 Stoploss : 2328 Take Profit 1 : 2340 Take Profit 2: 2360 Take Profit 3: 2375