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Gold increases sharply: Investors look for a safe place The US dollar rallied early Wednesday as risk-off sentiment dominated the market. Asian shares came under pressure after disappointing tech earnings reports from major companies such as Alphabet and Tesla. Alphabet achieved good revenue and profits but needed time to see results from its investment in artificial intelligence, while Tesla dropped 7% due to profits not meeting expectations and postponing the Robotaxi event. Fears of a Chinese economic slowdown also supported safe-haven demand for the greenback. On Tuesday, the US dollar rebounded significantly on market jitters ahead of important earnings reports from US companies and a sharp rise in Treasury yields. Investors take profits on USD short positions ahead of Wednesday's preliminary Global Manufacturing and Services PMI data. Weak PMI data could spark recession fears, creating fresh demand for the US dollar. Gold prices could benefit from this scenario if concerns about the US economy reinforce dovish Fed expectations. The market is currently pricing the possibility of the Fed cutting interest rates in September at a 97% probability. All eyes are on the US Q2 GDP report on Thursday and June PCE inflation data on Friday to monitor gold price movements. Note price range: Sell zones: 2424 - 2426 Stop loss: 2430 Take profit 1: 2414 Take profit 2: 2400 Sell ​​zones: 2440 - 2442 Stop loss: 2446 Take profit 1: 2430 Take profit 2: 2420
OANDA:XAUUSDLong
by mswhitetrader
Gold hesitates amid opposing market signals Gold prices (XAU/USD) struggled to gain during the Asian trading session Tuesday, although still above the lowest level of the past week. Joe Biden's withdrawal from the 2024 election has increased Donald Trump's chances, suggesting a looser regulatory environment. At the same time, the People's Bank of China (PBoC) unexpectedly cut interest rates on Monday, which supported upbeat market sentiment and created a drag on gold, a safe-haven precious metal. . Dovish Fed expectations also played an important role in limiting losses for gold. The market currently believes that the Fed will begin lowering interest rates in September and could cut twice more by the end of the year. These predictions have led to a decline in US bond yields, putting pressure on the dollar and thereby supporting the price of gold, a non-yielding asset. Against this backdrop, investors should cautiously wait for further sell-offs before positioning for an extended pullback from recent record highs. Uncertainty about monetary policy and global economic factors continue to strongly influence gold prices, and investment decisions should be based on careful analysis of the current situation. Interesting price areas: Buy zone: 2367 - 2365 Stop loss: 2361 Take profit 1: 2375 Take profit 2: 2385 Sell zone: 2418 - 2420 Stop loss: 2424 Take profit 1: 2410 Take profit 2: 2400
OANDA:XAUUSDShort
by mswhitetrader
XAUUSD July 23, 2024 Where will the rising wave go? Looking at the H1 chart, we have a completed 5-wave bearish pattern - The target of wave 5 has been achieved near the price range of 2382 that I predicted yesterday - After completing the next wave 5, there will be 2 cases, the first case is that the price continues the 5-wave impulse wave pattern. The second case is the abc bullish correction pattern. - Regardless of the pattern, we now expect a price increase at least according to the abc correction pattern - The target of ending the correction wave will be specifically determined when the wave has completed at least 2 waves a and b. Based on current price data, I estimate the target of the correction wave is the price range 2433. - If this rally gets past 2453 then we will be leaning towards a trend rally to 2500 then I will update everyone. Trading plan BUY: 2491 - 2488 SL 2483 TP1: 2420 TP2: 2433 SELL ZONE: 2433 - 2436 SL: 2431 TP1: 2411 TP2: 2494
OANDA:XAUUSDLong
by DEEKOP
The gold market is full of risks, investors should be careful Gold prices (XAU/USD) extended their losing streak for a third trading day, falling to nearly $2,410 during the European session on Friday. The precious metal is under profit-taking pressure after hitting a record high above $2,480 on Tuesday. The strong recovery of the USD and bond yields pulled gold prices lower. Expectations for Donald Trump to return as President of the United States have increased following his assassination. The prospect that President Joe Biden could abandon his re-election bid due to his health also boosted Trump's chances of winning. Trump, with his protectionist trade policies, has increased the attractiveness of the USD, contributing to downward pressure on gold prices. Political uncertainty and geopolitical tensions, along with demand for gold from central banks, could limit the decline in gold prices. Investors see any further price decline as a buying opportunity, based on expectations that prices will rebound once current negative factors are resolved. Price range to note: Buy zone: 2399 - 2401 Stop loss: 2395 Take profit 1: 2410 Take profit 2: 2420 Buy zone: 2391 - 2389 Stop loss: 2385 Take profit 1: 2390 Take profit 2: 2400
OANDA:XAUUSDShort
by mswhitetrader
What factors are holding back the increase in gold prices? Gold prices (XAU/USD) attracted buyers in early trading on Monday, ending a three-day decline from last week's record high. Dovish expectations from the Federal Reserve (Fed) and President Joe Biden's withdrawal from the presidential race have caused some investors to cancel bets on a Trump victory. This reduces the strength of the US dollar and supports gold prices. In addition, concerns about slowing economic growth in China, geopolitical risks from the prolonged Russia-Ukraine war and conflict in the Middle East also contributed to raising gold prices. These factors continue to drive demand for gold as a safe-haven asset. However, XAU/USD is yet to see a strong buying move as traders await US Personal Consumption Price Index (PCE) data on Friday. This data will provide clues about Fed policy, which will determine the near-term trajectory for gold prices. Note price range: Buy zone: 2392 - 2390 Stop loss: 2386 Take profit 1: 2400 Take profit 2: 2410 Buy zone: 2430- 2432 Stop loss: 2436 Take profit 1: 2420 Take profit 2: 2410
OANDA:XAUUSDShort
by mswhitetrader
XAUUSD July 22, 2024 Is the decline over? The information that President Biden withdrew from running due to his health further confirmed Trump's high chance of winning the election. This information immediately caused XAU to gap up on Monday morning Looking at H1 we see a sharp sharp decline, this is the ongoing wave 3. - At the price range of 2394, we have a strong rebound. From this rebound we expect that wave 3 has ended and this rebound is wave 4. - The target of wave 4 I measured at the price range 2420 or price range 2428 - After completing wave 4, the price continues to decrease to complete the 5-wave pattern - With the current price data, I can temporarily measure the expected target of wave 5, the last down wave of this downtrend, at the price range of 2382 or the price range of 2366. - After the end of this price reduction, we expect a strong recovery and I will update the specifics of this recovery after the price completes this 5-wave decline. - Our trading strategy is to observe price reactions at support and resistance zones to enter orders
OANDA:XAUUSDShort
by DEEKOP
Gold extends pullback from all-time high towards sub-$2,400 zoneGold price remains pressured for the third consecutive day while extending the mid-week pullback from an all-time high. In doing so, the spot gold price (XAUUSD) retreats from a three-month-old ascending resistance line backed by the RSI’s U-turn from overbought territory. Apart from that, the US Dollar’s corrective bounce and receding bullish bias of the MACD signals also underpin odds favoring the bullion’s further profit booking. The same highlights a convergence of the 20-day Exponential Moving Average (EMA) and a three-week-long rising trend line, close to $2,395. It’s worth mentioning that the $2,400 threshold acts as immediate support while multiple peaks and troughs can challenge the sellers near $2,360 and $2,330-35. Above all, the precious metal bears remain off the table unless witnessing a daily closing beneath an ascending support line from early April, close to $2,300 by the press time. Also acting as the downside filter is the 100-EMA level of $2,296, a break of which will welcome bears with open arms. On the contrary, Gold buyers seek a clear upside break of the three-month-old horizontal support-turned-resistance surrounding $2,431-34 to retake control. Following that, the precious metal’s run-up toward May’s peak of $2,450 and then to the recent swing high near $2,484 can’t be ruled out. However, the RSI conditions and the aforementioned multi-day-old resistance line, at $2,486 as we write, might challenge the XAUUSD bulls past $2,484. Following that, the bullion will be able to pierce the $2,500 round figure. To sum up, further decline in the Gold price appears certain but the bullish trend is less likely to reverse.
OANDA:XAUUSD
by MTradingGlobal
XAUUSD on July 18, 2024 continues to wait for the target zone? Continue with the previous day's plan - Looking at H1, we have black wave 5 which is an expanding wave. - In the black wave 5, there is a yellow 5-wave structure and now we have a yellow 4 wave that may have completed. - From the measured targets for the end of wave 5 of the plans in recent days, we will have the first target at the round number area of ​​2500 - Currently we wait for the price to reach the target area of ​​2500 to find conditions to SELL
OANDA:XAUUSDShort
by DEEKOP
XAUUSD 1H ANALYSIS (TRADE SETUP)FOREXCOM:XAUUSD - 1H ANALYSIS FOREXCOM:XAUUSD 1-Hour Analysis: Bullish Outlook but Following Counter-Trend Trade Chart Overview: This FOREXCOM:XAUUSD 1-hour chart analysis highlights a bearish outlook following the break of a significant consolidation zone and a series of 1H High (HH) and 1H Low (HL). ***Key Points*** 1. create Liquidity: The chart making create liqudity with falling slowly 2. Lower Highs and Lower Lows in 5m : Following the consolidation, the price action formed a series of Lower highs (LH) and Lower lows (LL), indicating a temporary Downtrend for Built Liquidity 3.Trend Line and Break: A Falling trend line, shown in grey, connects the Lowe lows (LL). The recent price action broke below this trend line, suggesting a shift in momentum from bearish to bullish untill reach our Order-block. 4. Suppy and Demand Levels: Supply Level : The Supply area around 2387.5 and 2389.7, is highlighted with a Red shaded zone. This level is expected to Short side Trade as a counter-trend trade. Demand Level : The next significant Demand level is marked around 2357.9, indicated by another Green shaded zone. 5. Price Projection: The analysis suggests a bearish as a retracement and Bullish as a Pro-Trend 6. Market Sentiment: The sentiment is Bullish following the 1D Bullish Candle, with expectations of further downside Retracement movement. ****Trading Plan**** Look for shorting opportunities on retracements towards the Supply zone around 2387.5 and 2389.7 Consider placing stop-losses just above the Supply zone to manage risk. Target the Order-Flow level around 2362.61 for take-profits. This analysis suggests a Short-Term bearish outlook for FOREXCOM:XAUUSD , with a potential shorting opportunity on 50% retracementsof the Structure. Traders should ensure proper risk management and stay updated with any external economic factors that may influence the price movement.
FOREXCOM:XAUUSDShort
by Phinics
XAUUSD July 17, 2024 Will the rising wave continue?XAUUSD July 17, 2024 Will the rising wave continue? The information we received is that Mr. Trump's brother is officially named as the Republican candidate. The fact that Mr. Trump is a bright candidate for the United States is creating conditions for XAU to increase in price because of its policies. In the past, he advocated for reducing interest rates to focus on economic growth. The information released from the Fed in recent days shows dovishness with announcements that curbing inflation is very effective as well as statements from Fed Chairman Powell also making dovish comments. . This also makes the expectation that interest rate cuts will happen sooner. Looking at H1, we see that yesterday there was a strong increase, which shows that we are having wave 5 extension. We are measuring wave 5 and currently have two important target price areas to observe: the 2481.6 area and the 2500 round resistance area. - At this time we should limit buying because the price is at the peak of the price force. Looking at the RSI, we see that the price momentum is weakening, while the price is still increasing, this signals that the current uptrend has ended. weakening force increased insignificantly - We have target price zones to find selling points at 2481.6 and 2500. - We expect the price to have a slight correction and then create a new peak near the 2500 area and the RSI peak will then diverge, which will be a nice sell trade setup. We continue to observe the price in this area to find a Sell down point. - In the immediate future, we have a target area for the downward correction wave at the price range of 2438.6. When there is more data about the dark price, this target area will be updated
OANDA:XAUUSDShort
by DEEKOP
XAUUSD trading plan for week 1, July 2024 Looking at D1, we see that the adjustment process has reached the end of the period - Unlike impulse waves, corrective waves take a long time and often have complex patterns that are difficult to predict. - Looking at the current model, I am leaning towards the complex triangle correction model with ABCDE structure in Elliot - The beauty of Elliot is that there are price levels that confirm whether we are moving in the right direction. - We have 2 prices that confirm our wave counting + If the price level 2284.37 is broken below then our current assumption is no longer correct then our previous assumption that the ABC correction model I mentioned last week will apply + If the price level of 2365.7 is broken, the triangle correction model we are predicting will be confirmed. - So our plan is to wait for the price to break out of the 2365.7 price range and test again to enter a Buy order. - If the Breakout price drops below 2284.37, then we wait to test again and enter a Sell order. If that happens, I will update.
OANDA:XAUUSDLong
by DEEKOP
How will XAUUSD fluctuate after Trump's case? The failed assassination of presidential candidate Trump increasingly increased his odds of winning the election as well as helping the Republican party hold a large number of seats in the parliament. If the Republican Party prevails in the election, This will promote a reduction in USD interest rates. This is also the reason why XAU has increased in recent days. Looking at H1: - The purple 5-wave structure has been completed. This could be the wave 1 structure in a larger wave. and so next will be the corrective wave structure - Like I said before, corrective waves often take a long time and move complicatedly, we need a lot of follow-up data to shape the corrective structure. - But for simplicity we can expect a simple ABC structure to observe - Then we temporarily have the target area for corrective wave C at 2 price areas: 2367.7 and 2349.3. - The current plan is that we can sell at the price range of 2429 to the price range of 2440 and set the SL at the top of 2440.
OANDA:XAUUSDShort
by DEEKOP
XAUUSD July 9, 2024 potential buying point? Looking at h1 yesterday, we continued to successfully predict the direction of price movement - Currently, the price is approaching the target area of ​​wave C. As I said yesterday, we need data from waves A and B to be completed to determine the target of wave C. - Currently, I measure the target of wave C located at 2 price areas 2355 and 2346 price areas. These 2 price items form a narrow area where we can enter a Buy order at this price area. - If the price breaks through 2339, our current wave counting process is no longer correct, then I will update you again.
OANDA:XAUUSDLong
by DEEKOP
1
Gold buyers need validation from $2,387-93 hurdle & US inflationGold price rises for the third consecutive day while paring weekly loss ahead of the key US inflation data, namely the Consumer Price Index (CPI) for June. In doing so, the precious metal justifies the bullish crossover of the 100-SMA to the 200-SMA and the firmer RSI (14) line. However, a month-old horizontal resistance zone surrounding $2,387-93 joins the sluggish MACD signals to challenge the bullion buyers. Should the quote stay firmer past $2,393, its run-up toward the $2,400 threshold and then to a 13-week-long horizontal resistance area near $2,431-34 will be quick. It’s worth mentioning that the XAUUSD’s successful rise past $2,434 won’t hesitate to renew the all-time high, currently marked in May at around $2,450. Meanwhile, a pullback in the Gold price highlights a fortnight-long rising support line, close to $2,365 at the latest. Following that, the 100-SMA and the 200-SMA will test the XAUUSD sellers around $2,342 and $2,337 respectively. In a case where the precious metal remains bearish past $2,337, traders can aim for $2,318 before jostling with an ascending support line from early April surrounding $2,298. If the bullion price holds onto the downward trajectory below $2,298, the $2,265 will act as the final defense of the buyers. Overall, Gold price remains in the bullish trajectory ahead of important data and hence softer/mixed prints of the US CPI can allow the buyers to cross the immediate upside hurdle.
OANDA:XAUUSD
by MTradingGlobal
GOLD - Price Observation & OverviewMonthly Time Frame: Weekly Time Frame: Overview & Observation: 1. Inside candle formation on monthly. 2. Trading at crucial levels, either side move is possible. 3. Hourly candle closing above 2390 for long position planning and bearish view only after breaking of demand zone. Trade Plan: 1. Need to observe the price behaviour for the coming days to get better clarity. - Stay tuned for further insights, updates and trade safely! - If you liked the analysis, don't forget to leave a comment and boost the post. Happy trading! Disclaimer: This is NOT a buy/sell recommendation. This post is meant for learning purposes only. Please, do your due diligence before investing. Thanks & Regards, Anubrata Ray
TVC:GOLD
by SuperNova396
XAUUSD July 8, 2024 Will the rising wave continue? Nonfarm news last weekend with lower employment data than the previous period caused gold to have a strong increase in price to 2392.2, this price increase may need to continue a correction of wave 4 before completing wave 5. final increase. Looking at H1 we see Black wave 5 has exceeded our measured target and approached the 2392 area. - So the next 5 waves are a correction. The corrective wave is a complex wave that is difficult to specifically identify, but we still take the ABC corrective wave as the standard for price observation. The specific target of this corrective wave needs to be observed at least as waves A and B complete to be accurate, but from the current data I measure the target of the corrective wave ending at the price range 2363 or 2355. These are the two price zones I expect to continue buying. We will continue to observe price behavior during the correction wave to more accurately determine the target price zones of the correction wave.
OANDA:XAUUSDLong
by DEEKOP
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
XAUUSD July 5, 2024 waiting for a reasonable buy pointYesterday was Bank Holiday, so low market liquidity led to gold prices sideways in a narrow fluctuation range. The price targets have not changed from the previous plan, the only difference is that the price has touched the demand zone that we have identified and turned up. This suggests that wave 4 may have completed and The price will continue to increase, completing wave 5 - Today there is news about Nonfarm, if the price continues to compress within this narrow range, then after the news it is possible that the price will complete the wave 5 target and then enter a correction. If the price reaches the target of wave 5 before the news is released, then after the news is released, the price will have a downward correction. - The target price range that I want to buy is the price range 2339 to 2342. This is the expected price adjustment range after wave 5 completes.
OANDA:XAUUSDLong
by DEEKOP
Gold buyers have various obstacles to tackle, including US NFPDespite posting a Doji candlestick on Thursday, the Gold price appears well set for the second consecutive weekly gain as traders await the US employment details for June. In doing so, the XAUUSD defends the mid-week breakout of a month-old descending resistance line, now immediate support around $2,350, backed by upbeat RSI conditions and the bullish MACD signals. Also keeping the bullion buyers hopeful is the quote’s ability to stay beyond the 50-SMA level. However, a slew of upside hurdles and likely upbeat prints of the US jobs report, including the top-tier Nonfarm Payrolls (NFP), test optimists ahead of the key data. Among the resistances, a fortnight-old horizontal area surrounding $2,365-68 caps the immediate upside of the precious metal. Following that, a region comprising multiple tops marked since mid-April, near $2,387-92, will challenge the advances before the last defense of the bears, namely a three-month-old horizontal region around $2,431-34. It’s worth noting that the $2,400 threshold and the all-time high marked in May around $2,450 are extra filters toward the north. Meanwhile, the Gold sellers will need validation from strong US employment data and a daily closing beneath the resistance-turned-support line surrounding $2,350. In that case, the 50-SMA level of $2,339 will grab the attention of short-term XAUUSD bears. Should the quote remain weak past $2,339, it will quickly drop to $2,318 but a convergence of a three-month-old rising trend line and 50% Fibonacci ratio of March-May upside, near $2,297-96, will be a tough nut to crack for the sellers afterward. If the bullion bears manage to keep the reins past $2,296, the early April swing low of near $2,265 and the 61.8% Fibonacci ratio of $2,261 can flash on their radars. Overall, Gold remains bullish ahead of the top-tier data but the upside room appears limited.
OANDA:XAUUSD
by MTradingGlobal
XAUUSD July 4, 2024 will the price still decrease? We expected a shakeout to enter the line but the price did not create this spring and completed the Flat correction pattern with wave c equal to wave a. Then the price increased sharply to the 2365 area - The completion of wave c means that wave 2 has also completed. Now the price enters wave 3 - The target of wave 3 is at least fibo 1.618% of purple wave 1, so we have the minimum expectation at the price range of 2395 - Looking at the smaller black trend, the price has gone through 4 waves 1234 and we wait for wave 5 to complete and then the price will have a correction before continuing to increase. - My suggested buying zone is the price range 2342 - 2340, which is the expected target of the completed major correction.
OANDA:XAUUSDLong
by DEEKOP