Get started

Gold

Update the latest gold price todayDear friends, Looking at last week's chart, gold experienced a slight decline, but the long-term prospects remain quite positive. At the time of writing, the price is trading steadily around $2038, with support from the $2016 level. As long as the trend line remains strong, I believe gold will generate a breakthrough above $2045 and aim for my profit target of $2065 and $2088. What about you? Do you think gold has the potential to increase in value in the near future
OANDA:XAUUSD
by RKarina
2
How is gold trading today?Dear friends, Currently, the price of Gold is not experiencing significant fluctuations, mainly hovering around the $2030 mark and still stuck in a downward trend. Regarding our trading strategy for Gold: On the analysis chart, Gold is being limited below the resistance level of $2036 and is confluencing with two EMA lines, further supporting the downward trend. Therefore, we will prioritize Sell orders with a profit target at the defensive level of Bulls in 2020 - $2017. Wishing you good luck!
OANDA:XAUUSDShort
by RKarina
Gold drops to 2000 USD?Hello everyone, it's great to meet you all again for today's discussion on the price of gold!! Currently, the price of gold is trading around $2028, which is a decrease as expected from yesterday's session after a correction and a breakthrough below the previous support level of $2030. Regarding today's outlook: Gold continues to lean towards a downward trend as the technical signals of the EMA 34 and 89 remain above the price range. The current support level is $2016, as long as gold does not break out from here, the price will further decline to around $2000, with a consideration of $1980. As long as gold continues to stay below the resistance level of $2050, the path downwards remains wide open.
OANDA:XAUUSDShort
by RKarina
Gold sellers need validation from $2,017 and US CPIGold price remains on the back foot for the second consecutive week, so far, as traders await the key US inflation data, namely the Consumer Price Index (CPI) figures for December. That said, the precious metal’s sustained trading beneath crucial Exponential Moving Averages (EMAs) and mostly steady RSI (14) line keeps the XAUUSD sellers hopeful. However, an upward-sloping trend line from early November, close to $2,017 by the press time, restricts the downside of the bullion. Should the quote manage to break the stated key support line, backed by upbeat US inflation numbers, the sellers can quickly aim for the previous monthly low of around $1,973. However, the $2,000 threshold may act as an intermediate halt. On the contrary, the Gold buyers need to portray a successful break beyond the 50-EMA and the 100-EMA convergence, near $2,040, to reclaim the market’s confidence. Even so, the downbeat US CPI and a sustained run-up beyond a five-week-old falling resistance line, close to $2,055 as we write, become necessary for the XAUUSD bulls. Following that, the previous monthly high of around $2,090 will be the last defense of the sellers before directing the quote toward the record high marked in 2023 surrounding $2,048. Overall, the Gold sellers are flexing muscles but the metal’s downside move hinges on a $2,017 break and the US CPI.
OANDA:XAUUSD
by MTradingGlobal
How does gold trade?Dear friends, the price of gold continues to decline and is currently trading around $2035. According to our chart analysis, gold has formed an inverted cup and handle pattern. The current support level is $2017. Additionally, the 10-year US bond yield has surpassed 4% per annum. This factor has prompted investors to pour money into bonds, resulting in minimal flow into precious metals. Therefore, it is inevitable that the price of gold will continue to trend downwards. In fact, during the overnight trading session, the global gold price reached $2040 per ounce at times. However, concerns have arisen as the US dollar strengthens and US bond yields rise. Many are worried that this will cause a decrease in the price of gold. As a result, they are looking for ways to sell and recover their capital, leading to a decline in the price of gold and making it difficult for it to recover.
OANDA:XAUUSDShort
by RKarina
Gold promises to increase in price?Dear readers, in the short term, our priority remains to sell due to the current price adjustment phase, with trading hovering around $2035. However, when considering the long term, the analysis of the 1D chart supports a strong upward trend for gold, with a clear support level at $2017. Another favorable factor for gold is that the trend line has not been broken yet. These two factors, along with market sentiment resulting from interest rate cuts this year, will be the main drivers for investors to push prices back to the resistance level of $2088 and achieve a new all-time high.
OANDA:XAUUSD
by RKarina
Gold prices are expected to continue to go downDear friends, it's great to see you again in today's trading session. At the time of writing this article, the price is fluctuating around $2033 at the start of the trading session, showing a slight recovery after a sharp drop to $2017 at the end of yesterday's trading session. The precious metal has broken out of the support level at $2033 and the price analysis chart indicates a clear downward trend with a convergence preparing for a reversal from the 4 and 89 EMA. It is expected that the current price correction will continue until a retreat of 0.5 or even 0.618. We can anticipate further decline in gold after this correction phase. Selling opportunities should be prioritized, my friends!
OANDA:XAUUSDShort
by RKarina
Gold price decreased but the upward momentum remained the sameIn general, the main trend of gold in the past week has been a decline, with a decrease of over $40 during the week. However, when looking at the long term on a daily chart, gold still maintains a strong upward trend with a stable ascending trendline. Gold has experienced a week of price decline as a corrective wave, testing the EMA 34 line at $2045 and the upcoming prospects are expected to test the EMA 89 line at around $2019. We can expect gold to recover from this point as it touches the trendline and finds support at that level (as marked on the chart).
OANDA:XAUUSDLong
by RKarina
Gold price todayToday, the price of gold in the market is relatively intense between the selling and buying sides, with a focus on lowering prices still being emphasized. At the time of writing, the price is reacting to trading around $2047. The price of gold has decreased after the Federal Reserve released the minutes of its latest meeting on January 3, showing that the central bank is not yet ready to lower interest rates. Therefore, it is necessary to closely monitor important market news to grasp the trend of this precious metal in the upcoming period.
OANDA:XAUUSDShort
by RKarina
XAUUSD: What matters is the news tonight?Dear friends, what are your thoughts on the upcoming trend of Gold in light of the significant news affecting it? Currently, the price of gold is still trading steadily around $2040 USD, with little change from yesterday. The overall trend of gold remains bearish, with immediate resistance at $2050 USD. At the end of the day, the United States will release the Non-Farm Payroll report, which is quite important for gold as it may provide us with a fresh perspective on whether gold will continue to decline or rebound.
OANDA:XAUUSDShort
by RKarina
XAUUSD: new weekly trading strategyDear friends, what do you think about Gold? In general, Gold showed signs of decline last week, dropping over 40 USD from 2088 USD to 2045 USD. Towards the end of the week, Gold seemed relatively calm, focusing on a sideways trend with a resistance level at 2050 USD and a support level at 2030 USD. On Friday, when the Non Farm news was released, Gold experienced significant fluctuations, reaching a high of 2065 USD and a low of 2024 USD. However, Gold closed at 2045 USD without any major breakthroughs. Looking at the prospects and trend evaluation for the future: With the current situation of the USD gradually recovering, Gold still has a tendency to decline further, as seen by the reversal from the EMA 34 line on shorter timeframes and consolidation on the 4-hour chart. Breaking below the support level will push Gold back to the 2015 USD mark.
OANDA:XAUUSDShort
by RKarina
Gold price todayDear friend, Today, the price of gold in the market has fallen after reaching its highest level in the overnight trading session at $2,050 per ounce, marking the most significant decline in three weeks. The drop in gold prices is due to a sharp decrease in the number of US workers filing for unemployment benefits for the first time in the last week of 2023. On the other hand, gold prices are at risk of further declines as the US Federal Reserve recently signaled its readiness to cut interest rates at the end of the new year. The minutes of this meeting indicate that the rate-cutting cycle is likely to be longer than expected. This is putting significant pressure on the gold market. Furthermore, gold prices are under pressure due to the upward trend of the US dollar. However, analysts believe that while the strength of the US dollar today is partly responsible for the decline in gold prices, it is not the main factor. Therefore, it is crucial to closely monitor important market news to grasp the trends of this precious metal in the coming period.
OANDA:XAUUSD
by RKarina
Gold eyes first weekly loss in four ahead of NFP, $2,010 eyedGold price stays defensive while keeping the previous day’s recovery within a seven-week-old ascending triangle, floating above 100-SMA during early Friday. In doing so, XAUUSD braces for the first weekly loss in four. However, a steady RSI (14) line and an impending bull cross on the MACD suggest a continuation of the latest rebound, which in turn highlights a one-week-old falling resistance line, around $2,067 at the latest. Following that, the $2,090 level comprising the stated triangle’s top line will be crucial to watch as the metal’s sustained trading beyond the same will allow the metal buyers to challenge the all-time high marked during late 2023. On the contrary, the 100-SMA level surrounding $2,040 restricts the immediate downside of the Gold Price. However, the XAUUSD sellers remain off that table unless the commodity slides beneath the aforementioned triangle’s bottom line, close to $2,010 at the latest. Should the quote remain bearish past $2,010, the $2,000 threshold may test the sellers before directing them to the previous monthly low of around $1,973. In a case where the bears keep the reins past $1,973, the mid-November swing low of nearly $1,931 should gain the market’s attention. Overall, the Gold price is likely to remain sluggish, slightly positive, but a surprise fall beneath the $2,010 won’t hesitate to welcome bears.
OANDA:XAUUSD
by MTradingGlobal
Gold price fades upside momentum within bullish channelGold price snaps a three-day winning streak within a fortnight-old rising trend channel while positing mild losses near $2,065 during early Wednesday. In doing so, the XAUUSD justifies the overbought RSI (14) line and the sluggish MACD signals. However, the pullback moves remain elusive unless breaking the $2,042-41 support confluence comprising the stated channel’s bottom line, 50-SMA and the early month’s peak. Following that, a quick fall toward the $2,000 psychological magnet appears imminent while the monthly low surrounding the 78.6% Fibonacci retracement of the November-December upside, near $1,977, will restrict the quote’s further downside. In a case where the bullion sellers keep control past $1,977, the previous monthly low of around $1,930 will be on their radars. Meanwhile, the previously stated bullish channel’s top line, close to $2,080 at the latest, challenges the Gold buyer’s re-entry ahead of the $2,100 round figure. It should be noted that the overbought RSI and sluggish MACD will join the $2,100 to offer a tough fight to the bulls afterward. However, the metal’s successful trading beyond the $2,100 will allow the XAUUSD bulls to cross the latest peak surrounding $2,150 while aiming for the $2,200 threshold. Overall, the Gold buyers are running out of steam and hence allow the XAUUSD to retreat. Even so, the precious metal’s bullish trend remains intact.
OANDA:XAUUSD
by MTradingGlobal
Gold buyers attack $2,055 resistance with eyes on Fed inflationGold price braces for the second consecutive weekly gain despite sluggish trading ahead of the Federal Reserve’s (Fed) favorite inflation gauge, namely November’s US Core Personal Consumption Expenditure (PCE) Price Index. In doing so, the XAUUSD pokes a two-week-old ascending resistance line, around $2,055 by the press time. Apart from the stated trend line resistance, the overbought RSI (14) and sluggish MACD signals also challenge the bullion buyers. Hence, strong data can push back the bullish bias by dragging the quote towards the immediate support, namely the 50-SMA level surrounding $2,020. It’s worth noting, however, that a six-week-old upward-sloping trend line near $1,995 will give the final fight to the sellers before giving them control. On the contrary, an upside break of $2,055 could quickly propel the Gold buyers toward targeting the $2,080 and the $2,100 resistance levels. It should be observed that such a strong run-up needs too weak US data and should allow the traders to ignore the overbought RSI, which in turn appears less likely. However, a clear upside break of $2,100 won’t hesitate to print the fresh all-time high, currently around $2,050, even during the year-end lackluster trading. Overall, the Gold buyers appear running out of steam ahead of this week’s key data, suggesting a pullback move in the commodity. However, the economics need to justify the market’s expectations of multiple rate cuts in 2024, failing to do so won’t do much harm to the XAUUSD price.
OANDA:XAUUSD
by MTradingGlobal
EURUSD AnalysisFOREXCOM:EURUSD 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!!!!
Short
by Phinics
AUSDUSD shortFOREXCOM:AUDUSD 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!!!!
Short
by Phinics
GBPUSDFOREXCOM:GBPUSD 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!!!!
Long
by Phinics
Gold sellers keep eyes on $1,960 and Fed announcementsGold price remains pressured at a three-week low, after declining in the last three consecutive days, despite a nail-biting wait for today’s Federal Open Market Committee (FOMC) monetary policy meeting, especially after the previous day’s US inflation numbers. In doing so, the yellow metal takes clues from Friday’s downside break of horizontal support, now resistance, as well as the bearish MACD signals, to poke the 50-day Exponential Moving Average (EMA) support surrounding $1,980. That said, a downward-sloping RSI (14) line, not oversold, joins the aforementioned bearish indicators to keep the XAUUSD sellers hopeful of breaking the nearby EMA support. However, a convergence of the 100-EMA and an upward-sloping support line from mid-October, close to $1,960-58, appears a tough nut to crack for the bullion sellers. Following that, the previous monthly low of around $1,933 could test the bears before directing them toward the $1,900 round figure. Alternatively, Gold price recovery needs validation from the aforementioned support-turned-resistance of near $2,010, as well as the Fed’s hawkish halt. Even so, the $2,030 and $2,080 levels will act as additional upside filters to challenge the XAUSD bulls before giving them control. Should the quote remain firmer past $2,080, the odds of witnessing a fresh yearly high past $2,100 psychological magnet can’t be ignored. Overall, gold price is likely to remain pressured but the downside room appears limited.
OANDA:XAUUSD
by MTradingGlobal
XAUUSD Daily Analysis On Friday, the highly-anticipated US Nonfarm Payrolls (NFP) rose by 199K in November from the previous reading of 150K. Additionally, the Unemployment Rate declined to 3.7% from 3.9% in the previous reading. Average Hourly Earnings held steady at 4.0%, matching market expectations. Finally, the preliminary University of Michigan Consumer Sentiment Index for December came in at 69.4 versus 61.3 prior. In response to the data, the US Dollar Index (DXY) rose to 104.25 and the US Treasury yields edged higher, with the 10-year yield climbing from 4.15% to 4.28%. The Fed will announce the interest rate decision on Wednesday.... its last meeting of the year. The markets anticipate no change in rates for its December meeting and think the dot plot will come down. Nonetheless, the market lowered its expectations for the first-rate cuts from March to May after stronger employment data The firmer US Dollar (USD) and the concern about China’s deflation create a headwind for the gold price. On Saturday, the National Bureau of Statistics of China revealed that the nation’s Consumer Price Index (CPI) dropped 0.5% YoY in November from a 0.2% decline in October, worse than the market expectation of 0.2%. The Producer Price Index (PPI) declined 3.0% YoY in November from a 2.6% decline in October, below the market consensus of a 2.8% decline in the reported period. Looking ahead, market players will monitor the US Consumer Price Index (CPI) on Tuesday. The spotlight will be the Federal Open Market Committee (FOMC) meeting, held on Tuesday and Wednesday. On Technical side price is currently trading under Daily , Weekly and Monthly pivot which is good for bears on Intraday and bulls need good confirmation from lower support levels (1978 :fib 0.50 Level) or daily candle need to be close above daily pivot average
PEPPERSTONE:XAUUSD
by TheGoldenCircle