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Gold weekly outlook Imp area are 2132 to 2324 if break more fallGood Morning Traders, Gold weekly outlook Imp area are 2132 to 2324 if break more fall Gold is consolidating in 2350 to 2325 area and around 100 EMA. IF we see gold is also in falling wedge. If gold will break 2324 area and sustain we can see deep correction till 2300 2290 and 2285 and 2275. If gold sustain above 2350 2354 we can see more up levels till 2360 2365 and 2370 2375. Our recommendation is selling from every high. Geo political can change the game, else we can see bearishness in gold Even we have Fed Rates event this week so check all the things before trading, Plan accordingly, Happy Trading
FXOPEN:XAUUSDShort
by vikasvasusharma
Crude Oil Week April 29 to May 03 Time Frame: 1 Day 1. Rejection candles from Support zone and 50 EMA. Price has not allowed to break these key levels 2. Previous trend is bullish. Level breakout and under retracement 3. 50 and 200 EMA golden crossover Time Frame: 4 Hr Crude oil has bounced from previous key level(Resistance converted to support zone) 1. Trend is Bullish 2. Filled FVG and taken support for 50 EMA 3. Bounced from 200 EMA. Entry above : 7046 Target: 7257 ( 211 Points) Stoploss:6916 (130 Points)
MCX:CRUDEOIL1!Long
by Swinging_Inside_the_BAR
1
What number will gold end the trading session at?Dear beloved readers, gold continued its recovery on the last trading day of the week, trading around $2,340 and marking a 0.3% increase for the day. As a result, the USD faced further disadvantages last night, creating momentum for the recovery of XAUUSD. In the short term, this metal continues to receive support from investors as it maintains a strong upward trend within the price channel, with a support level established at $2,330. The target is to reach the upper limit of the price channel, with gold potentially reaching $2,350 and possibly even higher by the end of the session.
OANDA:XAUUSDLong
by RKarina
What does gold promise in the near future?Hello dear friends, let's recap the gold prices from last week and strategize for the upcoming week. Overall, there was no surprising volatility in gold last week, as it adjusted from $2400 to $2338. This decrease followed the expected cyclical pattern in gold's movement, so there is no immediate reason to worry about this metal. In the past couple of days, gold has once again recovered as buyers successfully defended the support level around $2300 USD. Although this did not lead to any breakthroughs like we saw in previous price increases, it still demonstrates the strong strength of the upward trend. Looking ahead: Long-term outlook: Gold continues its upward trajectory, with a favorable target of $2500 USD. Short-term outlook: The precious metal has established a new support level, moving steadily around the EMA 34 and 89 lines, showing signs of convergence with the support line. Therefore, we can anticipate the possibility of price increases in the new trading week when the market reopens.
OANDA:XAUUSDLong
by RKarina
Update the latest gold price today!Hello everyone, after the first two sessions of the week falling by about 90 USD/ounce, the world gold price has recovered slightly and shown that the support threshold of 2,300 USD/ounce is quite solid, raising the belief that the recent decline is Buying opportunity for long-term investors. Gold prices remain high due to concerns about instability in the Middle East and Ukraine. In addition, weaker US economic data is also supporting gold prices as the US service and manufacturing industries show signs of decline. In the long term, gold is still in an upward trend. However, in the short term, gold may also suffer deeper corrections because the decline in the first two sessions of the week is not significant compared to the growth that has lasted since the end of December last year.
OANDA:XAUUSDShort
by RKarina
Gold price today: Back to the track.Hello dear friends. Today, gold is starting to increase again as the Bull side successfully maintains a high price above the support level of 2300 USD. As a result, gold has gained nearly 150 pips compared to the same time yesterday and is moving around the two EMA lines of 34 and 89 at a level of 2335 USD. The short-term trendline continues to favor the buying side. As long as the support level of 2300 USD is held steady, there is potential for a retest of the resistance level at 2400 USD, in line with the long-term trend of gold in recent weeks.
OANDA:XAUUSDLong
by RKarina
How to win in the gold market today!Prepare for an attractive short-term gold trading strategy! According to the current chart, gold is trading around $2,322 and remains in a downtrend. Strong resistance has been established at around $2,330, where gold has failed to break through three times, indicating seller control over the price. This downtrend continues to be stable and reliable. Our strategy will be to sell XAUUSD between $2327 and $2330, when gold is expected to retest the 89 EMA before resuming the current downtrend. The price target can be set near the $2,300 level. Wishing you happy and effective trading!
OANDA:XAUUSDShort
by RKarina
Gold sellers need validation from $2,298 and US GDPGold price portrays a four-day losing streak as market players brace for the first readings of the US first quarter (Q1) 2024 Gross Domestic Product (GDP). In doing so, the XAUUSD justifies the previous day’s downside break of a $2,324 support confluence, now resistance, comprising the 21-SMA and a two-month-old upward-sloping trend line. It’s worth noting that the RSI (14) line’s retreat from the overbought territory joins the bearish MACD signals to add strength to the downside bias. However, a clear downside break of the previous resistance line stretched from early March, around $2,298 by the press time, becomes necessary for the bullion sellers to tighten the grip. Additionally, a strong print of the US Q1 GDP could also convince the precious metal bears to take action. Following that, the 38.2% and 50% Fibonacci retracement of the quote’s February-April upside, respectively near $2,262 and $2,208, will be in the spotlight ahead of the 50-SMA support of $2,198. Alternatively, downbeat prints of the US Q1 GDP could trigger the Gold Price recovery that will aim for the $2,324 support-turned-resistance confluence. In a case where the XAUUSD remains firmer past $2,324, the $2,350 and the $2,400 psychological magnets will lure the buyers. However, a fortnight-old descending resistance line surrounding $2,405 will precede the recent swing highs of near $2,418 and $2,432 to challenge the precious metal’s further advances. It’s worth noting that the commodity’s successful trading beyond $2,432 won’t hesitate to flash the $2,400 threshold. Overall, Gold price remains pressured ahead of the key data but the quote’s further downside needs validation.
OANDA:XAUUSD
by MTradingGlobal
Gold falls while the main trend is still up!Hello everyone, what do you think—should we buy or sell gold today? Gold is currently trading around 2,323 USD/ounce, with little movement since the beginning of the day and is continuing its downward trend. This weakness is largely due to tensions in the Middle East showing signs of easing and investors taking profits and reducing leverage in precious metals trades. This is a common phenomenon in the futures market when a commodity loses its price momentum, whether short-term or long-term. From a technical analysis perspective, gold's recent decline is just a correction after gaining about 22% in the past two months. This correction is still within the framework of a long-term uptrend. However, if gold continues to fall further this week, new short-term highs could be set. With current prices yet to surpass $2,300 an ounce, gold could soon recover thanks to buying at lower prices, supporting its long-term upward trajectory.
OANDA:XAUUSDLong
by RKarina
Gold price today: The downward trend has no endHello readers, What do you think about gold price developments today? Gold is currently trading at about 2,318 USD/ounce, down slightly by 0.17% compared to yesterday, equivalent to a decrease of nearly 5 USD at this time and is in a downtrend. This precious metal encountered a significant decline after investors took profits, unable to maintain the psychological level of 2,400 USD. Gold prices have fallen to their lowest level in more than two weeks due to reduced concerns about tensions in the Middle East, while the market is still waiting for important economic data to provide more clarity on the possibility and timing of a cut. reduce US interest rates. Recent comments from Federal Reserve officials suggest there is no urgent need to cut interest rates, reducing the appeal of gold, a non-yielding asset class. Traders predict that the Fed's first rate cut may not come until September, so gold prices may need more time to stabilize.
OANDA:XAUUSDShort
by RKarina
Update the latest gold price today!Hello dear friends! Today, let's explore the latest developments in the gold market. As Tuesday's trading session began, we saw gold prices quickly decline. Currently, the price of this precious metal has decreased by about $26, fluctuating around $2300, which is down 1.08% over the day. This price decline followed after gold reached a peak of 2,400 USD, before entering the current correction. Easing fears of a broader conflict in the Middle East, coupled with the tech industry's rapid recovery on Wall Street, have caused gold to lose some of its appeal. Looking at technical analysis, gold's bearish outlook could continue on the daily chart. The next target could be a rendezvous with the 34 EMA and then a test of the lower bounds of the 89 EMA. This pullback is also in line with the Fibonacci levels of 0.5 to 0.618, where sellers have identified main stop. Now, I would like to return to you, investors and market lovers. Do you think we should join the buying side to take advantage of this opportunity, or should we side with the selling side and wait for the price to continue to fall? Please share your thoughts and let's make this conversation more interesting!
OANDA:XAUUSDShort
by RKarina
Gold price today: Decrease freelyHello everyone, what do you think about the gold price today? Recently, gold has experienced a significant price drop, from nearly 2400 USD to about 2311 USD, down nearly 65 USD compared to the previous day. So what has led to this sharp decline in gold prices? Global economic news: Before the June monetary policy meeting of the US Federal Reserve, the market temporarily eliminated expectations for interest rate increases until developments in the Middle East became clear. than. The reduction in geopolitical tensions in this region has increased selling pressure, causing a decline in gold prices. Market sentiment: Gold is considered overbought, leading to investors starting to sell off to relieve pressure and take profits after recent price increases. Technical analysis: The downtrend was confirmed when the downtrend line was successfully crossed. Resistance at $2400 remains intact as investors sell. Currently, gold is finding support at around $2305 and is likely to rebound slightly, but is likely to face new resistance at the Fibonacci retracement level between 0.5 and 0.618 (after the support level). 2345 USD broken). The target price of 2270 USD is the point that sellers are aiming for, especially when the psychological level of 2300 USD continues to weaken under strong selling pressure. I predict that gold prices will continue to adjust in the near future. How about you?
OANDA:XAUUSDShort
by RKarina
2