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GBPAUD MONTHLY analysis short+longTrade Idea: 📍 Entry: 🎯 Target: ⛔ Stop Loss: (MARKED IN CHART) 💡 RISK REWARD 1 : 💰 Risk 1% of your trading capital. ⚠️ Markets can be unpredictable; research before trading.Disclaimer: This trade idea is based on Elliott Wave analysis and is for informational purposes only. Trading involves risks; seek professional advice before making any financial decisions.Informational onLY !!!!AND IF YOU WANT TO LEARN IT WHAT STOPPING YOU TO ASK HOW ?
by Greenfireforex
Gold sellers need to break $1,925 support for further downsideGold Price fades bounce off an upward-sloping support line from late February by retreating from the 50-DMA hurdle, around $1,945 by the press time. Adding strength to the downside bias are the bearish MACD signals and a downward-sloping RSI (14), not oversold. With this, the XAUUSD is likely to break the stated support line, around $1,925 by the press time. Following that, a quick fall toward the $1,900 round figure can’t be ruled out. However, a six-month-long horizontal support zone around $1,890 and the 78.6% Fibonacci retracement of February-May upside, near $1,860 may test the metal’s further downside before challenging the yearly low marked in March around $1,804. On the contrary, a daily closing beyond the 50-DMA hurdle of around $1,945 may allow the Gold buyers to aim for the 38.2% Fibonacci retracement level of around $1,967. However, an area comprising multiple levels marked since May 19, close to $1,985, will challenge the XAUUSD bulls afterward. In a case where the bullion price rally crosses the $1,985 resistance, the $2,000 round figure may give a final fight to the optimists before giving them control. Overall, the Gold Price remains on the back foot but a clear downside break of $1,925 becomes necessary for the bears to take control.
OANDA:XAUUSD
by MTradingGlobal
Gold bears approach key support ahead of US NFPFailure to cross a nine-week-old horizontal resistance drags the Gold price back an upward-sloping support line from late February, close to $1,920 at the latest. Adding strength to the downside bias is the falling RSI line and bearish MACD signals. However, the RSI line is below 50.0 and suggests bottom-picking, which in turn highlights the stated trend line support. Even if the metal breaks the $1,920 support, the 200-EMA level of around $1,905 and the $1,900, as well as June’s bottom of around $1,895, can challenge the XAUUSD bears. Following that, a slump towards the 78.6% Fibonacci retracement of February-May upside, near $1,860, can’t be ruled out. Meanwhile, the Gold price recovery needs to cross the late July swing low of around $1,945 to convince the buyers. However, the metal’s further upside remains elusive unless crossing the previously mentioned multi-week-old horizontal hurdle surrounding $1,985. In a case where the XAUUSD buyers manage to keep the reins past $1,985, the $2,000 round figure and March’s high of around $2,010 will act as the final defense of the sellers. Overall, Gold sellers are likely to witness a bumpy road ahead but may continue to occupy the driver’s seat.
OANDA:XAUUSD
by MTradingGlobal
Gold or Nasdaq: What to Short this Week? Gold or Nasdaq: What to Short this Week? For Gold (XAU/USD), the 4-hour chart suggests a neutral-to-bearish stance. While the pair is currently above its moving averages, the 50-day moving average is closely trailing its price. The Relative Strength Index (RSI) is dropping towards a neutral level, indicating a potential pause in buyer activity. If Gold drops below $1,945, there is a risk of prices descending further and retesting their previous lows or the 200-Day Simple Moving Average (SMA) around $1,941. The deciding factor for Gold this week will likely be the US jobs data. The Non-Farm Payroll (NFP) report on Friday is a significant event, and the precursor jobs data (JOLTS Job report on Tuesday) could also sway traders. The market expects the NFP to show 190K jobs added, more than double the natural US growth rate. A strong jobs figure could influence traders' anticipation of the Federal Reserve's interest rate decision and impact the downside outlook for Gold. On the other hand, Nasdaq and other major US indices are expected to end July with gains. The Dow Jones has particularly shown impressive growth over the past two weeks. The outperformance of the Dow Jones suggests a possible shift by investors from growth stocks (such as Nasdaq stocks) to value stocks. Looking at the daily chart, the Nasdaq Composite is now targeting a key resistance level at 14,649. However, there is a possibility of aggressive seller response at that level. On the 4-hour chart, a divergence with the MACD indicates weakening momentum, which is often followed by pullbacks. Earnings reports from major tech companies, Apple and Amazon, will be crucial for Nasdaq this week. These two giants represent 11.6% of the entire Nasdaq index measured by market cap. Better-than-expected US earnings could potentially prolong the bull run in the market.
BLACKBULL:XAUUSD
by BlackBull_Markets
XAUUSD SELL CONTINUATION 30.07.23Reason Behind XAUUSD/GOLD Sell 1. Last Week Rejection Over the Resistance @1980 which make the Formation of Clear Neew Downtrend Channel 2. Bearish Engulfing Candlestick Pattern Make positive for the Sell Movement Over the last week Support over 1940 which is our support and make lower as per our expectation to 1910 3.Continuation of Last W pattern still Valid and smoothen teh downtrend Over all Possible Outcomes XAUUSD SELL @ 1965-73 SL 2000 TP 1940 TP 2 1910
FX:XAUUSDShort
by kripsonfx97
Gold Bullish Neowave Cycle Started, have fun !Hello Everyone welcome to Trading Idea, today we are updating chart of gold or XAUUSD for traders. Here are the details Gold is moving Up in Correction, So this is an Zig-Zag pattern Currently we are in Wave-E which is moving Up as price progressed, it will be clear where it will end. Well there can be further up Long Term cycle zig-zag wave in form of ((f)), ((g)) and ((h))or this can be the last so do the partial profit booking Any way trade here with sl near invalidation level. If you like the idea, than kindly boost and share it with others and help us. Also if you have any query than don't hesitate to ask us. Thank You Manish Singh Neowave Analyst
FOREXCOM:XAUUSDLong
by Neowave-forecast
2
Gold buyers still occupy driver’s seat after Fed, eyes on ECB noDespite the Fed-inflicted volatility, the Gold price remains bullish as markets brace for the European Central Bank (ECB) monetary policy meeting. That said, successful trading beyond the 50-EMA and 200-EMA, respectively near $1,950 and $1,904, keeps the buyers hopeful. Also acting as short-term support is the 50% Fibonacci retracement of the pair’s February-May upside, near $1,935. It’s worth noting that the 61.8% Fibonacci retracement level adds strength to the $1,904 support while the $1,900 round figure and June’s low of $1,893 are some extra downside filters that can defend the XAUUSD bulls if they’re on the verge of losing the throne. In a case where the quote remains bearish past $1,893, the odds of witnessing a slump toward the early March swing high of around $1,854 and then to February’s bottom of $1,804 can’t be ruled out. Even so, the Gold buyers need to provide a successful upside break of the 10-week-old horizontal resistance area around $1,985 to tighten their grip. That said, the $2,000 psychological magnet and the 23.6% Fibonacci retracement of around $2,005 may act as additional resistances to test the XAUUSD bulls before directing them to April’s peak of around $2,050. Following that, the yearly high of around $2,067 will regain the market’s attention. Overall, the Gold Price remains on the bull’s radar unless declining below $1,893.
OANDA:XAUUSD
by MTradingGlobal
HTF - GOLD - HAS LOST ITS SHINE?My analysis today deals with how the further course of our most popular precious metal "GOLD / XAU" could look like. For this I have carried out a "MULTI-TIME-FRAME" analysis, which refers to the higher time units (month - week - day) and thus makes the big picture visible. Normally, all time units below "1h" are called noise, but even a - 1h-4h - analysis is of no use to you, if the knowledge about the big and whole is missing. > We traders know that nobody can predict the future, and that's exactly why you have to be prepared for all initial situations. > If the DXY should rise again, it means "BLOOD" for the traditional and crypto markets. > This creates dangers, but also opportunities - it is important to look at the big picture. > I have explained in detail which levels are RELEVANT in the following pages. . table of contents 1st part = INTRODUCTION 2nd part = TECHNICAL ANALYSIS = Monthly - Time frame = Weekly - Time frame = Dayly - Time frame 3rd part = CONCLUSION PART ONE "INTRODUCTION" After "XAU/USD" formed a double top between 2020-2022, a strong sell-off has been unleashed thereafter. > This sell-off paused in October this year to test the strength of it. > With a subsequent bullish monthly candle, many retail investors now feel on the safe side that new highs will be reached. > Here I do not want to take away the joy, but the big picture does not suggest anything like that. > Once you look at the DXY (USD index) on the higher timeframes, the following sell-off in gold is "indirectly" confirmed. (My DXY analysis is linked below this post, for confirmation purposes.) GOLD SAFE HARBOUR . If you follow popular wisdom, GOLD is classified as a safe and reliable haven. SPEAKING LIKE ... > "All that glitters is not gold." > "Talk is silver, silence is gold." > "Much gold, much future." That, the precious metal gold got such a high value awarded - HAD - its reasons. > Inflation protection and security - are definitely the two most associated words with this precious metal. Unfortunately, at the latest, since the year 2021, this no longer seems to apply. > If one compares the loss of inflation and the gain in value of gold, a significant gap can be seen, at which there can no longer be any talk of "inflation compensation". > Gold will therefore no longer live up to its reputation and a rethinking of its value will have to take place in the future. SECOND PART TECHNICAL ANALYSIS For the analysis of the higher time levels, I proceed according to the onion-skin principle. > MONTH - level > WEEK - level > DAY - level These are divided into > SUMMARY > CHARTS The charts are presented in logarithmic scaling, as the given information can be visually presented in a more harmonious way. 1st MONTH – Time frame SUMMARY The trend channel plotted on the chart formed in March|2007 and has since maintained its position as a legitimate trend channel. Its mid-trend line showed reactions when confronted and was respected by the market. > Price is in the area below the mean line and had last touched the channel in 2018. > September|2020 the price ran into the mid-line but was not strong enough. This becomes very clear when looking at the moving away middle line despite the "double top". > The trend arc is another resistance, which should be taken into account for a future downward movement. If we go into more detail about the "SUPPLY & DEMAND" zones, you can look at two zones in the chart. > The "SUPPLY" zone is VERY STRONG because it is a RBD (Rally Base Drop). > The "DEMAND" zone is VERY WEAK, as it is a DBD (Drop-Base-Drop). > If we get another rise in the DXY, the drawn "DEMAND" zone will break and the sell-off will continue. The Fibonacci retracements should serve us as additional confirmation, and have been proved in past moves (last decades) . > Should the price rise even further, FIB (1) will serve as a Strong Resistance Zone, although the "FIB Zone = 0.75-0.88 - is the Strongest Resistance. (1) > If the sell-off continues, FIB (2) cannot do much in the monthly chart, but if necessary there will be a reaction on the "smaller" time levels. > The FIB (3) = 1.618 level, will resemble a large magnet and in combination with the FIB (4), will trigger a large resistance reaction in the market. Past highs and lows usually serve as resistance / support, of which we have three. > HIGH | 08/20 - Already showed a reaction (double top). > HIGH | 09/11 - Point of Control > LOW | 03/21 - Broken and recaptured Points and levels of interest are in front of us, which have played a strong role for the market since 2011 . > The most significant resistance, represents the plotted - POI (1800 USD), which is still contested at the time of this analysis. > The other POIs have non-negligible resistance and support characteristics and should be kept in mind. CHARTS XAU - Overall picture XAU - Trend lines XAU - Supply & Demand ZONES + Market Structure Break XAU - Fibonacci XAU - POI ATTENTION In the following time levels, I will only deal with the NEW, added elements. . 2nd WEEK – Time frame SUMMARY In addition to the already mentioned trend channel, now three more become visible, which may have escaped the one or the other. > The "Purple" trend channel formed at the same time as its big brother (monthly channel) and thus represents a major significance for the market. We are at the middle line of the channel and the market seems to have used it as support. > The "Turquoise" trend channel accompanies us since the last high and has a big say with its many interactions. My guess is that its resistance line will decide whether the sell-off will continue or be broken with confirmation. > The "Earth-colored" trend channel is a small sideways accumulation and accompanies us in this area. Currently, the price has fought its way back into the channel, confirmed it and is now targeting the top of the sideways channel. > The "Orange colored" trend line , has been respected since 2018, 07|2022 broken. The price suggests that the trend line is approaching for a final retest. The additional "SUPPLY & DEMAND" zones join the two existing ones and remain untouched. As additional Fibonacci additions, we have: > The 0.88 FIB (1), combined with the levels from the FIB (2). This represents with the 0.88 levels from FIB (2) - two very relevant resistance ranges. > FIB (3) is only valid if the price does not rise further and therefore the input values do not change. Should this be the case, the 0.786 + 0.88 area is the most important to watch out for. CHARTS XAU - Overall picture XAU - Overall picture + Month XAU - Trend Channels + Trend Lines XAU - Supply & Demand ZONES XAU - Fibonacci ATTENTION In the following time levels, I will only deal with the NEW, added elements. . 3rd DAY – Time frame SUMMARY The chart shows a falling triangle which has been broken . > As a result, the price has confirmed this break, with a close at the break point. > At this time level, there will be a sell-off, especially if the DXY rises. To give a little comment on the "Supply & Demand" zones: > The upper two "SUPPLY" zones are definitely very strong. 1800 + 1980. > The bottom "DEMAND" zone is very strong, as it is a DBR (Drop-Base-Rally) zone. (ca. 1640 - ca. 1615) > The "DEMAND" zones in between are incidental, will trigger small reactions on the lower time frames, but nothing significant. (ca. 1760 - ca. 1660) CHARTS XAU - Overall picture + Month + Week XAU - Supply & Demand ZONES + Trend Lines THIRD PART CONCLUSION "The central banks, themselves, are behind the gold price manipulation. What should you get out of it?" Run this question through your head and let me know in the comments what you think is more likely. > Another sell-off or a positive gold price for now? In summary, based on technical analysis, there are a few reasons for a weak GOLD price . > If you look at the area between 1,950 USD - 1,840 USD, it almost seems like an arm guarding the upper levels. > To bring down this defense, I think, needs more momentum than what we have and are getting right now. (Christmas, New Year, Chinese New Year) For this reason, I expect a weak gold rate and a strong USD, and an accompanying bloodbath in the traditional and crypto markets. > Positioning after confirmation of this thesis = SHORT . If this idea and explanation has added value to you, I would be very happy to receive an evaluation of the idea. Thank you and happy trading!
OANDA:XAUUSDShort
by ZielIstDieAutarkie
Gold price on the first day of the weekWorld gold price on the first day of the week tended to decrease with spot gold down 1 USD compared to last week's closing level to 1,953.4 USD/ounce. Last week, the world gold had a 2nd consecutive week of gains when the published inflation reports reduced expectations of interest rate hikes by the US Federal Reserve (Fed). Kitco's recent survey results show that optimism continues to return to the gold market with the forecast that prices may move higher this week. Even so, neither Wall Street analysts nor Main Street retail investors are expecting a major breakout.
TVC:GOLD
by SupperTrading-FX
14
Gold price pullback remains unimpressive beyond $1,900Gold price reverses the previous week’s retreat from an eight-week-old descending resistance line, grinding higher past the 100-bar Exponential Moving Average (EMA). However, the nearly overbought RSI (14) suggests another pullback from the aforementioned immediate resistance line, near $1,962 at the latest. With this, the XAUUSD is likely to break the immediate support surrounding $1,935, comprising the 100-EMA. However, the 200-EMA, close to $1,900 at the latest, appears a tough nut to crack for the metal bears to break before retaking control. In a case where the price remains bearish below the $1,900 mark, the odds of witnessing a quick slump toward the early March high of around $1,858 can’t be ruled out. On the contrary, a daily closing beyond the aforementioned descending resistance line, close to $1,962, could renew the Gold Price upside towards challenging the previous monthly high of around $1,983. Following that, the $2,000 round figure and April’s peak of around $2,048 will be in the spotlight before directing the XAUUSD bulls toward the yearly high of near $2,067. Overall, multiple hurdles toward the north and the latest retreat from the key resistance line teases the Gold sellers but crucial EMAs stand tall to challenge the commodity bears.
OANDA:XAUUSD
by MTradingGlobal