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Historic Turning Point: Gold Takes New HighGold has continued to rally, hitting new highs on the back of the Fed’s rate cut, which has weakened the US dollar and lowered bond yields. Gold is currently trading at $2,625.00, up slightly by 0.14%. Markets are expecting another rate cut by the Fed later this year, which continues to support gold prices. Technically, gold is currently above both the 34-EMA and 89-EMA, indicating a clear bullish bias. Traders should keep an eye on the next resistance level at $2,630. A successful break above this level could pave the way for further gains. However, if a correction occurs, the key support level to watch is $2,590. A pullback could be an opportunity for investors to buy, especially if the fundamentals remain bullish.
OANDA:XAUUSD
by Alexander_FXTrading
XAU/USD: Climbing Ahead of Psychological Resistance at $2661XAU/USD is climbing strongly, holding steady at $2619 with support from EMA 34 and EMA 89. The biggest challenge lies at the psychological resistance of $2661.470 – if broken, the next target could reach $2683.706. Traders can buy if the price breaks resistance or sell if it pulls back to support. Currently, the USD is struggling due to increased risk appetite and dovish expectations from the Fed. Traders are awaiting PMI data from both Europe and the US for new direction.
OANDA:XAUUSDLong
by Romio_pro
copper next movecopper can make small correction for fill FVG on down side for make uptrend 📌 Please support me with your likes 🤞🏻 and comments 💬 to motivate me to share more analysis with you and share your any opinion about the possible trend of this chart with me ! Best Regards , Davis 🥰 Hit the like 🤞🏻 button to !! Motive some energy !!🥇 📌 Note : ⨻ Check the live market updates and analysis yourself before buy 📈🔺 or sell 📉🔻 ⨺ Am not giving any advisory or signals its just my idea for upgrade my knowledge 📚 in trading ⨹ This is my pre and post market analysis to improve my trading journey 🚀 ⨂ Am Not suggesting anyone to buy or sell ❌ am just giving my views 👀 ⫸ You are responsible for your trading ✅ not me ❌ ⫷ HAPPY TRADING 🥰
MCX:COPPER1!
by TRADING_MASTER_DAVIS
Weekend #btc & #gold Price Action Analysis | Market Insights &📈 Welcome to Alzubair FX! In this video, we dive into the latest price action for Bitcoin (BTC) and Gold, analyzing key levels, market trends, and potential movements for the upcoming week. Whether you're a seasoned trader or just starting, our insights will help you stay ahead in the market. 🔔 Don't forget to subscribe for daily Forex analysis and price action insights! 💬 Share your thoughts in the comments below! What are your predictions for BTC and Gold? #Bitcoin #Gold #CryptoAnalysis #ForexTrading #MarketTrends #PriceAction
by Alzubair_fx
1
Gold Awaits Fed's MoveXAUUSD is currently trading at $2,586, near the critical resistance level of $2,588.972. The upward momentum is still supported by the EMA 34 ($2,561.747) and EMA 89 ($2,536.316). However, if this resistance is not broken, the price may retrace to the support zone at $2,554.101. If the price holds above this level, gold could continue rising, aiming for the $2,614 mark. With the FOMC meeting scheduled for later today, the market is awaiting key interest rate decisions, which could cause significant short-term volatility in gold prices. Traders should closely monitor macroeconomic news signals to make informed trading decisions.
OANDA:XAUUSD
by Romio_pro
Gold Long from 2600 Range.The potential upside is strongly indicating that gold prices are no way going to settle below 2600 $ on immediate basis. The fundamental cause for this rise is was already portrayed last year on 4th December 2023. The sharp drop in gold prices on December 4, 2023, was the result of a few key factors converging to drive significant market volatility. Profit Taking: Gold had reached an all-time high in early December due to geopolitical tensions, especially in the Middle East, which drove safe-haven demand. When gold touched this high, it triggered a wave of profit-taking, as many investors sought to lock in gains, leading to a sell-off. This marked a major pivot from the price surge​( Interest Rate Expectations: Around that time, there were shifting market expectations regarding U.S. interest rates. The U.S. Federal Reserve had previously hinted at potential interest rate cuts in 2024, which initially supported gold prices. However, as markets began reassessing the timeline and pace of those rate cuts, sentiment changed. Investors became more cautious, and the anticipation of delayed cuts led to a stronger U.S. dollar, which inversely impacts gold prices, contributing to the fall​ Economic Data: Economic indicators released around the same period were not showing signs of the expected weakness. This further dampened investor optimism about an imminent rate-cutting cycle, causing a reassessment of risk positions and leading to additional selling pressure on gold​. The combination of profit-taking, shifting interest rate expectations, and economic data that did not support continued bullish sentiment drove the significant decline in gold prices starting on December 4. Now as we are today at Sept 20th, 2024, we can see the first interest rate cut from Fed has clearly been on rise for GOLD. Gold is currently on the rise due to fresh investing and this may continue for a pottential longer time than usual previous movements.
FX_IDC:XAUUSDLong
by XAUUSDANALYST
2
XAUUSD Hits Resistance, Awaiting Fed SignalXAUUSD is currently trading around $2,573, approaching a key resistance level at $2,587. If it fails to break through, the price may correct towards the support zone at $2,536 before a potential strong recovery. The EMA 34 ($2,557) and EMA 89 ($2,530) continue to support the uptrend, but with the RSI at 67.87, the market shows signs of being overbought, increasing the likelihood of a correction. Gold has attracted some dip-buying on Wednesday as rising bets on a 50 bps rate cut from the Fed test the recovery of the US dollar.
OANDA:XAUUSD
by Romio_pro
XAUUSD 19/9/2024 Downtrend is over? Looking at H1 we see that after the FOMC news we witnessed a strong price increase creating ATH at the 2600 area. Then there was a strong decrease to the 2547 area - So wave 5 has completed as expected my target. now we expect an ABC correction - Looking at the chart we see a strong decline suggesting a completed wave A, this strong decline also shows us that wave A has a 5-wave structure so this correction we expect a correction according to the ABC Zigzac correction structure - The target of wave B I expect at the 2580 - 2583 zone or the 2579 - 2600 zone this is our SELL target - After completing the target of wave B the price continues to decrease to complete wave C I expect the target to complete wave C at the price zone of 2528 - 2525 this will be our BUY target - We also have a strong support zone at the price zone of 2451 - 2448 this will be our BUY scalp zone Trading plan SELL ZONE 2580 - 2583 SL: 2590 TP1: 2570 TP2: 2562 TP3: 2551 SELL ZONE: 2597 - 2600 SL: 2607 TP1: 2590 TP2: 2579 TP3: 2562 BUY ZONE: 2551 - 2448 SL: 2561 TP1: 2562 TP2: 2570 TP3: 2579 BUY ZONE: 2528 - 2525 TP1: 2541 TP2: 2551 TP3: 2562
OANDA:XAUUSDShort
by DEEKOP
2
XAUUSD 18/9/2024 gold price has ended the correction? Looking at H1, we have a sharp and fast-moving wave 3, followed by a corrective wave 4 - According to the Elliot wave principle, wave 2 is simple, wave 4 is complex and takes more time, so we are in wave 4. - I temporarily label the small waves in wave 4 so that we can predict the end of wave 4 - Currently, looking at the price target of wave 4, we have the price range of 2565 - 2562 and the second target price range is the range of 2451 - 2448 - Looking at the structure of wave 4, we have a complex structure consisting of a Flat wave combined with a zigzag structure WXY. Looking at the wave 4 structure, we see that the correction structure may be sufficient and we expect the price to continue to increase according to wave 5 - The correction process of wave 4 is confirmed to be completed when the price breaks out through the 2590.188 zone, then we have the target zones of wave 5 above, which are the 2600 - 2603 zone and the 2616 - 2619 zone Our trading plan BUY ZONE: 2565 - 2562 SL: 2555 TP1: 2579 TP2: 2590 TP3: 2600 BUY ZONE: 2451 - 2448 SL: 2441 TP1: 2561 TP2: 2579 TP3: 2590 SELL ZONE: 2600 - 2603 SL: 2700 TP1: 2590 TP2: 2579 TP3: 2565 SELL ZONE: 2616 - 2619 SL: 2716 TP1: 2600 TP2: 2590 TP3: 2579
OANDA:XAUUSDLong
by DEEKOP
Gold Faces Resistance at 2,588 USD, Awaiting Fed SignalsGold (XAUUSD) is currently trading around 2,577 USD, facing strong resistance at 2,588 USD. If it fails to break through this level, the price may correct down to the support zone at 2,530 USD. The 34 EMA and 89 EMA, located at 2,551 USD and 2,524 USD respectively, are providing support for the bullish trend. If the price holds above support, gold may continue its rise towards the 2,560 USD level. The RSI is currently at 75.42, indicating increasing selling pressure. The upcoming Fed meeting decisions will play a crucial role in influencing gold prices.
OANDA:XAUUSDLong
by Romio_pro
1
Gold: Pullback remains elusive beyond $2,570, US data, Fed eyedGold snaps three-day winning streak while retreating from an all-time high, marked the previous day, as traders await the US Retail Sales and monetary policy announcements from the Federal Reserve (Fed), scheduled for Tuesday and Wednesday respectively. In doing so, the precious metal eases from the 61.8% Fibonacci Extension (FE) of its July-September moves. Buyers remain optimist Gold’s recent dip comes as the RSI (14) moves back from the overbought zone and marked failure to break through the 61.8% Fibonacci Extension level on prices. Sellers are also eyeing a potential bear cross on the MACD. Despite this, gold remains above the two-month-old resistance line near $2,570, keeping buyers hopeful with dovish expectations from the Fed. Technical levels to watch For intraday sellers, the $2,570 level is key as it has turned into support. If gold continues to decline, the 50% and 38.6% Fibonacci Extension levels around $2,560 and $2,540 could be next obstacles. Below these, the bears might target the month-old resistance line and an upward trend line from early August, near $2,525 and $2,515, respectively. However, gold buyers will stay optimistic unless the price clearly falls below the 200-SMA level at $2,487. On the flip side, if gold breaks above recent peaks around $2,590, it could target the $2,600 level before approaching the 78.6% Fibonacci Extension at $2,610. If gold buyers push past $2,610, the focus will shift to the 100% Fibonacci Extension near $2,650 and then the $2,700 mark. Sellers need a strong motive to retake control Overall, gold remains bullish despite the recent pullback. For sellers to gain control, they would need not only a drop below the 200-SMA but also strong US data and a hawkish stance from the Fed.
OANDA:XAUUSD
by MTradingGlobal