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GOLD-TRADE

XAU#19: Gold's rally slows down, what's the reason?OANDA:XAUUSD demand soars but price growth slows down, risk of correction increases. However, let's look at the fundamentals and price structure to plan for FX:XAUUSD next move: 1️⃣ **Fundamental analysis:** 📊 The decline of the USD is an important sign ahead: 🔹European politics and impact on the USD: German elections could strengthen the EUR, putting more pressure on the USD 🔹USD faces downward pressure: The factors that caused the USD to plummet in 2017 (trade policy, global growth, European politics) could recur in 2025, threatening the strength of the greenback. 🔹Trump Tariffs: Lower-than-expected tariffs have limited the USD's gains, but investors remain concerned about upcoming trade policy. 🚀India's gold imports in February are expected to fall 85% year-on-year to a 20-year low as record bullion prices dampened demand. '' 📌 We have seen the first signs of market sentiment that gold prices are already too high. However, in the game of buying and selling, increasing demand while lacking supply is always the driving force for prices to rise further. 2️⃣ **Technical Analysis:** 🔹 **Frame D**: Yesterday was a pinbar that was forecast to be a strong driver for gold's price increase. However, today's price action shows the opposite. The decline is not over yet. 🔹 **H4 Frame**: The price has been SW at the peak for too long without a breakout. Although the price structure is still increasing, the current support area is showing a weak price reaction. 🔹 **H1 Frame**: As you can see the clear divergence on the MACD indicator. It is highly likely that we will have a slight correction to the support area below 3️⃣ **Trading plan:* ⛔ In the current area, we do not have a clear confirmation, whether BUY or SELL at this time is high risk. Currently, we should not FOMO if there is no clear confirmation from the price structure. ✅ Waiting for the price structure to be broken and then looking for a position when the price rebounds is a wise choice at this time. Or we can simply wait for the price reaction when it reaches the support zones below to trade in accordance with the main trend 💪 **Wishing you success in making profits!**
OANDA:XAUUSD
by TonyL0ng
XAU#17: Is FOMO Trading Wrong Now? See Detailed Analysis Now! 💎 💎 💎 As analyzed in article #16, OANDA:XAUUSD tested the peak area. Immediately after the end of the weekend session, we witnessed a strong correction. Based on that reaction, we will plan the next step for FOREXCOM:XAUUSD :💎💎 💎 1️⃣ **Fundamental analysis:** 📊 US retail sales in January fell the most in nearly 2 years. The data released caused gold, US bond yields and the USD index to fall simultaneously 🔹Trade risks are reduced as Trump requests to review tariff policies. 🚀The Russia-Ukraine war has positive developments regarding the ceasefire. 📌 The US economy is currently showing negative and declining signs. The tariff policy that causes the trade war has not shown any signs of cooling down, which will push prices up. 2️⃣ **Technical analysis:** 🔹 **Frame D**: Friday closed with a bearish engulfing candle. Before that was a pinbar. There is a high possibility that we will have a correction for gold. 🔹 **Frame H4**: The short-term trendline seems to no longer have the support effect as in the previous correction. We will look at the next support zone in the H1 frame 🔹 **Frame H1**: As you can see, H1 is in a correction phase. The bullish price structure has not been completely broken, but with this momentum, it is only a matter of time. 3️⃣ **Trading plan:* ⛔ The price is in a strong correction phase in the last trading hours ending the weekly candle without any recovery point. We may face high risks if we FOMO BUY or SELL at this time. ✅ There is a high possibility that we will have a correction phase to the support zone below. We can consider the price reaction at the important support - resistance zones that I marked on the chart to wait to establish a trading position. 💪 **Wishing you success in making profits!**
OANDA:XAUUSD
by TonyL0ng
XAU#9: FED keeps interest rates unchanged. Information supportin💎 💎 💎 The previous plan helps you make a profit. Please like and follow the channel to follow the earliest trading plan 💎 💎 💎 🔥So Gold has returned to the support zone of 2745 and reacted strongly as the previous plan. Here's our next trading plan 🔥 1️⃣ **Fundamental analysis:** 📊 🔴Market speculation that US may impose import tariffs on gold London gold market participants are racing to borrow central bank gold stored in London as gold deliveries to the US surge on speculation that the US may impose import tariffs 🚀 🔴Fed keeps rates unchanged, drops mention of inflation "progress" in policy statement 2️⃣ **Technical analysis:** 🔹 **D frame:** yesterday closed as a Hanging Man candle. However, the price action after this candle still needs market confirmation in today's trading session 🔹 **H4 frame:** The support zone of 2745 is playing an important role. The price is still in an upward structure. 🔹 **H1 frame:** The trendline zone that matches the support of 2745 is showing a strong reaction after the interest rate announcement. If the price can break through the resistance zone above, Gold will have enough momentum to break through the old peak 3️⃣ **Trading plan:** ⛔ In the current area, it will be risky if we take a SELL position here. Although it is also a resistance zone, H4 has a hugging candlestick pattern with an increasing structure. If H4 closes at 2752, we will consider this option later ✅If anyone has an order in the 2745 area, Congratulations!!! You can wait for a higher profit. If not, you can choose to react to test the trendline again on the H1 frame for confirmation. We will wait for a price structure on a small time frame like m15 to establish a position. 💪🚀 **Wish you successful trading!** 📌 For any questions, please contact directly. I am ready to answer for you for free #trading #trade #xauusd #newtrader #newbie #xau #forex #tradingview #plants #trader #tradingforex
OANDA:XAUUSD
by TonyL0ng
GOLD UPDATE INTRADAY TODAY #Gold Range Prediction from Today 23/08/2024 is as under. Gold Spot : 2480$-2530$ Gold INR : 71200-72250 It must be remembered that price of precious metal depends on so many world wide factors like inflation, Fed interest rate, trade barrier, geopolitical tension, demand, supply, bond yield, dollar index , GDP, payroll data, CPI, currency fluctuation, debt ceiling , expected tax & duty changes, other commodity price crude oil etc. etc. and hence there can not be any accurate barometer of predicting precious metal price. Gold INR has been calculated taking Gold Spot international price and converting the same assuming fixed Indian rupee rate. However, this is not accurate method as change in rupee value to dollar can substantially impact Gold INR price. Pl. note that price of commodity doesn't depend upon performence of company but depend upon performence of world economy, hence it is extremely risky to trade in commodities. Commodities market also become more volatile during contract expiry. These are not a recommendation for buy or sell. This view is only for educational purpose. You are requested to consult your financial advisor before entering in to any trade.
MCX:GOLDV2024
by santoshshukla1996