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XAUUSD June 3, 2024 Gold's target zone?We expect the price to reach the target zone of wave 5 to find conditions for executing buy orders in this zone. As Friday passes, the market eagerly awaits the personal consumption expenditure (PCE) price index to be announced later. It is expected to show moderate price pressure in April, which would support the case for a rate cut later this year. Anticipation of interest rate cuts is favorable for gold as a non-yielding asset. Looking at H1, we see that the price dropped sharply last weekend. Currently the price is in the 2330 area - Looking at RSI, we see the phenomenon of bottom divergence. This signals that the immediate selling force has weakened. Maybe the downward momentum will no longer be strong - Looking at the current price structure, we can see that the price is currently completing wave 5 - We have wave 5 targets which are 2 price zones: 2317.6 and 2311.5 - Looking at the momentum indicator, we see that the momentum is currently in the overbought zone and could reverse at any time. - We expect the price to reach the target zone of wave 5 to find conditions for executing buy orders in this zone. Deekop's analysis is free from any personal bias intended to serve everyone. I can't always be right - no one can. But my analyzes reflect Deekop's meticulous assessment of the market situation in the medium and long term and nothing more to help people have the best trading plan.
OANDA:XAUUSDShort
by DEEKOP
XAUUSD May 31, 2024 gold price reaches correction target?Our trading plan is to wait for the price to react in the price range 2337 to 2332 to look for buy signals. The news was announced yesterday Preliminary GDP news is 1.3%, lower than expected 1.6% Applications for unemployment benefits were 219k, higher than the previous period's 216k News that pending home sales are down 7.7% Yesterday's news indicators are showing that the US economy is facing difficulties due to the Fed's monetary policy control. Looking back a bit, we see that the CPI (Consumer Price Index) this period has decreased compared to the previous period. Tonight, the PCI (Personal Consumption Index) will be announced. If this index cools down, US inflation should have a good signal. This will contribute to helping the FED loosen its current monetary policy. The goal of tightening monetary policy is to ensure inflation reaches 2%, and when tightening monetary policy, raising interest rates will cause the economy to stagnate. Therefore, if US inflation has shown signs of cooling down while the economy is showing signs of stagnation, it is necessary for the Fed to consider policies to ensure a balance between economic goals and inflation goals. . Looking at the H1 chart, we see that the first target of wave 5 was achieved, then the price rebounded. - After the price bounces back, it is still early to say the correction has ended because the correction is confirmed to end when the price closes above 2450. But at least we will expect a price increase to the target. 2400 next week. - Currently we have price that has completed wave 1 as shown on the chart and is completing wave 2. We have a very good buying target which is the price range from 2337 to 2332. Our trading plan is to wait for the price to react in the price range 2337 to 2332 to look for buy signals.
OANDA:XAUUSDLong
by DEEKOP
XAUUSD on May 30, 2024, the rally is about to beginWith the wave 5 targets projected on the chart, we have 2 target zones: zone 1 is 2322.7 and target zone 2 is 2311.5. Today will release news on unemployment claims, preliminary GDP, and pending home sales, with forecasts worse than last period, if tonight's actual index reflects correctly. This seems to signal that the US economy is being affected by monetary policy due to maintaining current high interest rates. Tomorrow is an important day to announce the PCI index (Index of price changes and consumer goods purchased by consumers excluding food and energy). If this index cools down, it could influence the Fed to loosen current monetary policy. Looking back over recent times, we see that the CPI inflation index has begun to show signs of decreasing, combined with economic pressure that may cause the Fed to decide to loosen its monetary policy, especially tomorrow if PCI index cooled down. Looking at H1, we see that the price has completed wave 4 and is continuing to complete wave 5. - We see that the current price has broken below the supply and demand balance zone as shown on the chart - With the wave 5 targets projected on the chart, we have 2 target zones: zone 1 is 2322.7 and target zone 2 is 2311.5. - We wait for the price to reach the 2322.7 or 2311.5 areas to find reversal signals to decide to buy.
OANDA:XAUUSDShort
by DEEKOP
NASDAQ - IDEA - SETUPFOREXCOM:NAS100 Hello traders , here is the full multi time frame analysis for this pair, let me know in the comment section below if you have any questions, the entry will be taken only if all rules of the strategies will be satisfied. wait for more Smart Money to develop before taking any position . I suggest you keep this pair on your watchlist and see if the rules of your strategy are satisfied... Keep trading Hustle hard Markets can be Unpredictable, research before trading. Disclaimer: This trade idea is based on Smart money concept and is for informational purposes only. Trading involves risks; seek professional advice before making any financial decisions. Informational only!!!!
FOREXCOM:NAS100
by Phinics
US30 SetupFOREXCOM:US30 Hello traders , here is the full multi time frame analysis for this pair, let me know in the comment section below if you have any questions, the entry will be taken only if all rules of the strategies will be satisfied. wait for more Smart Money to develop before taking any position . I suggest you keep this pair on your watchlist and see if the rules of your strategy are satisfied... Keep trading Hustle hard Markets can be Unpredictable, research before trading. Disclaimer: This trade idea is based on Smart money concept and is for informational purposes only. Trading involves risks; seek professional advice before making any financial decisions. Informational only!!!!
FOREXCOM:US30Long
by Phinics
Gold remains vulnerable to further downside, $2,306 eyedGold slides beneath a four-week-old rising support line while extending the previous day’s fall amid a firmer US Dollar early Thursday. That said, the bullion marked the biggest daily loss in a week and snapped a three-day winning streak on Wednesday. It should be noted that the quote’s latest support break joins the bearish MACD signals and steady RSI to keep sellers hopeful. As a result, a convergence of an eight-week-old rising support line and the 50-day Exponential Moving Average (EMA), close to $2,306, gains the market’s attention. If at all the precious metal remains weak past $2,306, the monthly bottom of $2,277 and the early April swing low surrounding $2,265 will act as the last defense of the buyers. On the contrary, the XAUUSD’s corrective bounce needs to provide a daily closing beyond the support-turned-resistance line, near $2,340 by the press time, to convince the buyers. Even so, a slew of resistances around $2,360 and $2,390 will challenge the Gold price upside before highlighting a seven-week-old horizontal resistance area surrounding $2,433. Following that, the recent high of near $2,450 and the $2,500 threshold should lure the bulls. To sum up, the Gold price signals further downside but a clear break of $2,306 becomes necessary to defeat the bulls at least for the short term.
OANDA:XAUUSD
by MTradingGlobal
XAUUSD May 27, 2024 gold's reaction after a sharp declineWith investors' expectations of interest rate cuts in the market increasingly decreasing, especially when statements from Fed members last week all hinted that there will be no plans to cut interest rates in the near future. This interest rate causes the expectation to buy gold to decrease, leading to a weak demand for accessing the market. Looking at H1 last weekend, we witnessed a strong decline according to the Elliot wave principle. This strong decline may be a characteristic of wave 3 of wave c in the abc correction wave as shown on the chart. - Currently the price is in a recovery phase and this could be wave 4. We measure the target of wave 4 ending at the price range 2351-2355 - Then the price continues to decrease to complete wave 5 as well as wave c, then we have the target price area of this wave 5 at 2322.7 or 2311.5 Trading plan - We can sell at area 2351-2355 when candlestick reversal signals appear in this area. - We can buy in 2 areas 2322.7 and 2311.5 when candlestick reversal signals appear in this area Note: Sufficient TP, SL to be safe and win the market‼ ️Change data plan will be updated later. Deekop's analysis is only a personal opinion with a desire to share its views with the community. I'm not always right. But my analysis always reflects my meticulous evaluation of what is best for an investment.
OANDA:XAUUSDShort
by DEEKOP
Gold braces for biggest weekly loss of 2024, focus on $2,270Gold licks its wounds at the lowest level in a fortnight after falling in the last three consecutive days. With this, the precious metal becomes vulnerable to post the biggest weekly fall since late September 2023. The downside bias takes clues from a clear break of a nine-week-old support line, now immediate resistance near $2,340, as well as the bearish MACD signals and steady RSI. With this, the spot Gold price (XAUUSD) is likely to drop toward the 50-SMA support of $2,309. However, an ascending trend line from early April, close to $2,294 at the latest, will challenge the bullion bears afterward. It’s worth noting that a 3.5-month-old rising support line near $2,270 acts as the final defense of the buyers, a break of which will not hesitate to welcome the bears targeting the $2,200 threshold. On the contrary, the Gold buyers need validation from the $2,340 support-turned-resistance to retake control. Even so, the 10-SMA hurdle of $2,375 and the $2,400 psychological magent will challenge the XAUUSD bulls afterward. In a case where the precious metal remains firmer past $2,400, the $2,430 and the $2,450 should allow the bulls to take a breather before pushing them toward the $2,500 round figure. Overall, the Gold price is likely to witness a short-term downside but remains in the bullish trend unless declining below $2,270.
OANDA:XAUUSD
by MTradingGlobal
Gold stays bullish despite recent pullback, focus on $2,400 Gold price lacks clear directions after retreating from the highest level in a month while snapping a two-day winning streak. In doing so, the XAUUSD eased from a one-month-old horizontal resistance zone surrounding the $2,400 threshold. The pullback also gained strength from the US Dollar’s rebound. However, the bullion still carries an early-week breakout of a descending resistance line from April 12, now immediate support around $2,365. Additionally, keeping the buyers hopeful are the bullish MACD signals and the upbeat RSI (14) line. With this, the quote is likely to prevail on the bull’s radar and can gain more upside strength on crossing the $2,400 hurdle. In that case, the $2,418 and $2,431 will lure the bulls before directing them towards refreshing the all-time high by targeting the $2,500 threshold. It’s worth noting that the Gold price weakness past the resistance-turned-support line of $2,365 won’t open the doors for the sellers as the 21-SMA and an upward-sloping trend line from mid-March, respectively near $2,336 and $2,318, will challenge the commodity’s south-run. Should the precious metal remain bearish past $2,318, the $2,300 round figure and the monthly low of nearly $2,277 will be the final defense of the buyers. Following that, the XAUUSD’s fall toward the late March swing high of $2,222 can’t be ruled out.
OANDA:XAUUSD
by MTradingGlobal
Gold price today: Continuing to search for new peaks!Hello everyone, let's learn about gold prices today. At the end of the trading session on May 15, gold increased by 27 USD, reaching 2,385 USD. During the trading session, at one point the gold price reached $2,390, the highest level in nearly a month. The USD index yesterday fell 0.6%, to its lowest level in more than a month. The depreciation of the USD has made gold more attractive to buyers, creating conditions for gold prices to recover strongly. Comments from the chart: Gold continues to consolidate its record upward momentum on the two EMAs 34 and 89, showing a good sign for buyers in the long term. In addition, gold is forming a cup-in-hand model, it is expected that after the adjustment, the long-term target of over 2,500 USD will continue to be targeted by the Bulls!
OANDA:XAUUSDLong
by RKarina
4
Gold Price Today: Reversing to increase in price!Currently, gold price has increased by 21.9 USD, reaching 2,357.6 USD/ounce, recovering to the high level from last week after positive news announced last evening. The main reason is the weakening of the USD and Treasury bond yields after data on US producer prices in April were published. The USD fell 0.2%, making gold more attractive to investors using other currencies. Yields on 10-year Treasury bonds also fell, reducing the opportunity cost of holding gold, thereby boosting gold prices. In addition, the fact that Fed Chairman Jerome Powell did not signal a rise in interest rates is also a positive factor, which can help gold prices continue to grow.
OANDA:XAUUSDLong
by RKarina
XAUUSD - Downside correction outlook continues!The gold market today showed a modest recovery, with the metal trading at approximately $2343, reflecting a 0.34% gain since yesterday's notable decline. However, there are emerging signs that gold may be forming an inverted cup and handle pattern. If this pattern fully materializes, it suggests the possibility of a further downside correction, reaching a Fibonacci retracement level of 0.618 to 0.5. In such a case, the $2,305 mark is expected to act as a solid defensive zone for those who are optimistic about gold's prospects.
OANDA:XAUUSDShort
by RKarina
XAUUSD - Bearish but outlook still bullish!Hi everybody. At the beginning of today's trading session, gold fell after a strong increase late last Friday. Year-to-date, the precious metal is down more than $10, reflecting a 0.48% drop on the day. Looking ahead, gold is expected to face more short- and medium-term corrections. However, from a long-term perspective, investors and markets are still optimistic that gold will regain the $2,400 level. This belief is reinforced by signs that the US labor market is cooling. With inflation under control and US interest rate cuts expected to increase - currently expected to happen twice - the outlook for gold remains positive, encouraging traders to stay maintain faith in its resilience!
OANDA:XAUUSD
by RKarina
Gold price today: Forecasted to continue to increase sharply?Hello dear friends, let's learn about gold prices in the new week! Currently, gold is continuing to adjust after a strong price increase over the last two days of last week. This metal is trading around 2,358 USD in the first trading hours of the second day and down 0.11% on the day. Accordingly, the correction is taking place according to the basic wave structure, so there is nothing too worrying about the metal's ability to continue to recover. In terms of outlook: Gold targets the 2045 USD range to test the EMA line as well as complete the correction wave around the 0.5-0.618 Fibonacci level followed by a price increase again according to Dow theory. Regarding forecasts: Of the 17 analysts who participated in the survey, 10 experts, or 59%, expect to see gold prices move higher next week; while only 2 analysts, accounting for 12%, predict prices will decrease. The remaining five experts, or 29% of the total, see gold trending sideways.
OANDA:XAUUSDLong
by RKarina
Gold price returns to the race to increase?Global gold prices have continued their upward trend, with gold prices reaching $2,360/ounce. This is the strongest increase in 5 weeks, as more and more investors expect that the US Federal Reserve (Fed) will soon adjust monetary policy towards loosening. This optimism is further reinforced by recent economic data, which shows a slowdown in the US economy, increasing expectations that the Fed will have to loosen monetary policy in the near future. Specifically, after the US monthly employment report did not meet expectations, the latest report on weekly unemployment benefit applications increased higher than expected, which pushed gold prices up more than 1%. , reaching its highest level of the month.
OANDA:XAUUSD
by RKarina
Gold price today: Gaining momentum again!Golden information: According to the weekly report from the US Department of Labor, the number of first-time applications for unemployment benefits in this country has increased to the highest level since August last year. In the week ending May 4, the number of people applying for unemployment benefits for the first time in the US increased by 20,000 people compared to the previous week, an increase that exceeded expectations, to 231,000 people. The data raises expectations that the Fed will begin cutting interest rates at some point this year. Gold is a non-interest-bearing asset, so the strength of gold prices is often reinforced when the prospect of the Fed cutting interest rates increases. In addition, gold price this session is also supported by the decrease in USD exchange rate and US Treasury bond yields. After the US jobs report, the Dollar Index measuring the strength of the USD decreased by about 0.3%, to more than 105.2 points. Gold is priced in USD, so USD depreciation is a beneficial factor for gold prices.
OANDA:XAUUSD
by RKarina
XAUUSD - Shocking price increaseEveryone, let's find out what's new in the gold market today! Yesterday, gold saw a significant breakthrough, as the metal rose from around $2300 USD to as high as $2350 USD at the moment, completely shedding previous bearish sentiment. The weakening of the USD has strongly supported the upward trend in the price of this precious metal. In addition, gold prices rose even higher "after a number of major central banks decided to cut interest rates or signaled their willingness to cut interest rates further in the future." Lower interest rates reduce the "opportunity cost" of holding gold, a non-yielding asset, making it a more attractive investment. Looking at the chart analysis: Gold is approaching the resistance area as marked. On the upside: If it succeeds in maintaining this trend and successfully closes above resistance, XAUUSD will open up a profitable opportunity to quickly move towards $2400 USD. On the other hand, if a pullback to correct the trend occurs, XAUUSD will retest the breakout zone at $2330 USD once again, but the uptrend will still be maintained as the 34 EMA is reversing and signaling positivity for buyers.
OANDA:XAUUSDLong
by RKarina
Gold price today: Prospect of price increase delayed!Hello dear friends, let's understand today's gold price! Currently, today's gold price continues to move above 2,300 USD and has not changed much compared to the same trading session yesterday. Accordingly, Gold remains at familiar levels in the context of rising US Treasury bond interest rates and a strong US dollar. Traders await unemployment claims on Thursday, followed by the University of Michigan's Consumer Sentiment survey on Friday to find new direction for the metal. Looking at the outlook from the technical chart: The 4h chart of XAU/USD shows that the upside potential is still limited, the metal continues to be limited below the resistance of 2335 USD and moves below the two EMAs 34, 89 without a clear direction. Bears may have a better chance of a clear break below the $2,300 mark until Gold breaks below that level and trades around $2,260 according to the trendline.
OANDA:XAUUSDShort
by RKarina
Update the latest gold price today!Hello everyone, today we will learn about the gold market to determine whether this is the right time to buy or sell. Starting with the current gold price chart, we see that the gold price has increased by more than 6 USD, currently sitting at around 2131 USD. Even so, there haven't been any significant breakthroughs. Gold prices remain stable around 2,305 USD, and the market is waiting for new information to be announced later in the day to have a clearer view. There are two important events that will affect the USD exchange rate: Claim unemployment benefits Auction of 30-year US bonds Outlook Analysis: On the 1-hour chart, gold appears to be in the process of consolidating and moving sideways. Because the Bollinger Bands index shows no major changes affecting the current trend, we can expect gold prices to not change much until important news is announced. Careful observation and attention will be the key to determining the right time to trade. Gold is expected to fluctuate between 2328 - 2305 USD until the end of the day.
OANDA:XAUUSD
by RKarina
Gold suddenly turned down!"Gold (XAU/USD) attracted some buyers during Asian trading hours on Wednesday. Safe-haven demand, driven by geopolitical tensions and political uncertainty, as well as central bank buying activity, may contribute to pushing gold prices higher. However, hawkish remarks from Federal Reserve officials could dampen hopes of interest rate cuts in 2024, despite weaker-than-expected US employment reports in April. This could drag the precious metal lower. At the end of Wednesday, Philip Jefferson, Susan Collins, and Lisa Cook of the Federal Reserve will speak. Hawkish comments from Fed policymakers may lift the greenback and exert pressure on gold priced in USD. Gold traders will monitor consumer sentiment indices from the University of Michigan on Friday."
OANDA:XAUUSDShort
by RKarina
XAUUSDHello all dear traders! Gold price today decreased by 15 USD compared to last night's highest price of 2,325 USD/ounce. Accordingly, Gold decreased slightly as investors focused more on the prospect of interest rate cuts from the US Federal Reserve (Fed). According to CME's FedWatch tool, futures traders believe there is about a two-in-three chance that the US Central Bank will cut interest rates in September. Although prices are pressured by the interest rate outlook. But! The upside for gold, especially related to geopolitical risks and potential tensions in the banking system, is strong enough to support the precious metal.
OANDA:XAUUSD
by RKarina