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Gold Rebounds: Focus on 2,546 Support & Russia-Ukraine TensionsGold prices rose on Monday (November 18) after six consecutive losing sessions as the rally in the USD paused and escalating uncertainty over the Russia-Ukraine conflict spurred safe-haven demand. Currently, gold is recovering after successfully testing strong support at $2,546, where the long-term uptrend intersects with potential buying zones. This positive signal reflects strong buying momentum, pushing prices back towards $2,620, near the EMA 34 and EMA 89, key dynamic resistances. If prices break above the $2,620 level, the next target could be the resistance zone at $2,791, where significant selling pressure awaits. With the Russia-Ukraine tensions showing no signs of de-escalating, gold prices could climb even higher in the future. Traders should closely monitor developments in this situation.
OANDA:XAUUSDLong
by Vanna-Cris
Gold Price Drops as Investors Take ProfitsThe XAU/USD chart presents an interesting market scenario, with gold currently hovering around $2,636.120. Key support levels at $2,613.983 and $2,607.217 act as a "shield" for buyers, preventing deeper declines. The strong resistance at $2,677.741 has become the primary target. If gold surpasses this level, a continued upward momentum could occur, aiming for new highs. The breakdown of Middle East peace talks, weakening U.S. job market, a potential 0.5% rate cut by the Fed, and China's stimulus boost – these factors may drive gold prices higher in the future.
OANDA:XAUUSDLong
by Romio_pro
XAU/USD: Break Through $2,683 or Correct Down to $2,644?The XAU/USD chart reveals a critical situation as gold prices hover around $2,659.915. Currently, strong support at $2,644.626 is helping to prevent a deeper decline. The EMA 34 and 89 lines at $2,652.357 and $2,618.574, respectively, are also playing a role in supporting the uptrend. The key resistance level to break is $2,683.746. If the price can breach this level, the potential for continued upward momentum to higher levels will open up. However, if it fails, the likelihood of a downward correction becomes clearer, with the target being the lower support zone. Additionally, hot economic news from the U.S. and significant updates from the Fed could strongly influence gold price movements in the near future.
OANDA:XAUUSDLong
by Romio_pro
XAU/USD: Break Resistance at $2,680 or Correct to $2,645?The analysis of the XAU/USD chart shows that gold is currently priced at $2,658.550, with strong support at $2,645.331. From the chart, it is clear that the upward trend is still being maintained, thanks to the support of the EMA 34 and EMA 89 levels at $2,658 and $2,633.502, respectively. The key resistance at $2,680.809 is the barrier that the price needs to break through if it is to continue reaching higher levels, with the next target at $2,697.070. However, if the price fails to maintain its upward momentum and drops below the $2,645.331 support level, a deeper correction may occur. In the current market context, important economic news from the U.S. and statements from Fed officials will be key factors that could significantly impact gold price movements in the coming days.
OANDA:XAUUSDLong
by Romio_pro
3
XAU/USD: Ready for a Breakout or Awaiting a Pullback?The XAU/USD chart is revealing a dramatic story. Gold prices are currently fluctuating around $2,669.635 after touching a strong resistance at $2,685.180. The bulls are defending the critical support level at $2,649.955, with two solid defensive shields — the EMA 34 and EMA 89 positioned at $2,639.497 and $2,594.206 — keeping the upward momentum intact for gold. However, the real challenge lies at the $2,685.180 resistance level. Should the price break through, the door will open to new highs, with the next target set at $2,699.470 — a crucial resistance zone. As waves of economic news from the U.S. and key statements from the Fed roll in, this is the moment for savvy and alert traders to take action.
OANDA:XAUUSDLong
by Romio_pro
1
XAU/USD: Awaiting a Breakthrough at $2,720 or Correction?The XAU/USD chart on September 26 tells an exciting story of gold's bullish momentum. After hitting $2,661, gold is steadily advancing, shielded by two strong supports—EMA 34 at $2,540 and EMA 89 at $2,448. These support levels act as fortresses, holding buyers firm and allowing gold to continue climbing. However, all eyes are now on the key psychological resistance near $2,720, a critical barrier that, if broken, could pave the way for new highs. Upcoming FOMC statements could significantly impact XAU/USD.
OANDA:XAUUSDLong
by Romio_pro
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
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
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
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 Hits 2,570 USD Peak, Support at 2,521 USDGold is currently trading around its all-time high near 2,570 USD after a strong rally fueled by rising expectations of a significant Fed rate cut. The 34 and 89 EMA lines show that the upward trend is still intact, though a short-term correction is possible. Key support levels lie at 2,501 USD and 2,521 USD, where investors may find buying opportunities. Gold could rise to the 1.618 level, where it will face psychological resistance before continuing upward towards the next target at 2.618.
OANDA:XAUUSDLong
by Romio_pro
3
XAUUSD: Breaking the Resistance Zone!Gold prices are currently fluctuating within a clear resistance and support range. At present, the price is positioned between the 34 EMA and 89 EMA, indicating a tug-of-war in the trend. The 34 EMA and 89 EMA are converging, signaling a potential trend breakout as the price moves out of this range. The key resistance level is around 2,525, a zone where prices have previously been rejected, indicating strong selling pressure. There are two main support levels: one near 2,470 (Support 1) and another closer at 2,489 (Support 2). The price has tested Support 2 once and is showing signs of retesting it. If the price holds above the 2,489 support level and shows signs of a rebound, it may retest the resistance zone at 2,523.48. If this level is breached, the next target could be 2,538.21. Trading Strategy: Wait for clear signals from price action as it reaches the critical resistance and support zones. If the price breaks out of these zones, consider trading in the direction of the new trend.
OANDA:XAUUSDLong
by Romio_pro
XAUUSD Awaits Break of $2,530 Resistance Under CPI PressureXAUUSD is in a mild uptrend, trading around $2,517 with a key resistance level at $2,530. If the price breaks above this level, the uptrend could continue. However, failure to breach it may lead to a correction toward the $2,501 support level. The EMA 34 and EMA 89 are still supporting the current uptrend, but if the price falls below them, a downtrend might resume. U.S. economic news, especially the CPI report, will heavily impact gold prices, as a higher-than-expected inflation rate could strengthen the USD, putting downward pressure on XAUUSD.
OANDA:XAUUSDLong
by Romio_pro
Gold poised to surge on NFP and U.S. inflation data.Tonight, key figures for NFP, Employment Change, and the U.S. Unemployment Rate will be released. The labor market outlook is predicted to be negative, with Nonfarm Payrolls expected to reach only 164K and the unemployment rate to drop to 4.2%. Average hourly earnings are forecasted to increase from 0.2% to 0.3%, indicating rising inflation pressure. This could cause significant volatility for the USD and push gold prices higher. The 4H XAUUSD chart shows a breakout from the downtrend channel, with gold surpassing resistance at 2,526 USD and support from EMA 34 (2,505 USD) aiding the upward move. Interestingly, after this breakout, gold is likely to continue toward the target of 2,550 USD, a level many investors are anticipating. Stay updated with market news for more accurate trading. Wishing everyone successful trades.
OANDA:XAUUSDLong
by Romio_pro
Gold Nears Peak, Awaiting Breakout at 2,530Gold prices rose in the Asian session on Thursday, nearing record highs as the dollar cooled ahead of key inflation data that could influence rate cut prospects. XAUUSD is in an uptrend, supported by the EMA 34 and EMA 89 lines. The price is currently fluctuating around 2,515, showing signs of a continued uptrend. Support 1 at 2,440 and Support 2 at 2,490 serve as key support levels. These levels align with the EMA lines, indicating strong support. The main resistance zone is around 2,530, where the price may struggle to break through. If this resistance is clearly breached, a strong breakout could occur, and the price may continue to rise to higher levels. A clear break above the 2,530 resistance could signal a good buying opportunity. The next target could be higher levels around 2,550 or beyond.
OANDA:XAUUSDLong
by Romio_pro
2
Gold Continues to Trend UpwardsGold ended Friday's trading session on a positive note following the release of key economic data from the Non-Farm Payroll report, which indicated weak data for the USD, gold prices surged immediately after breaking through the 236x resistance zone. Observing the H4 chart, we can clearly see the upward trend in gold prices. There is a notable double bottom pattern, targeting the 2,40x level. However, achieving this target will require support from sellers to push the price up to that range. The uptrend is expected to continue this week, but we should wait for a slight pullback for a retest before the price makes a strong upward move.
OANDA:XAUUSDLong
by Henry_pro