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XAU/USD: Climbing Ahead of Psychological Resistance at $2661XAU/USD is climbing strongly, holding steady at $2619 with support from EMA 34 and EMA 89. The biggest challenge lies at the psychological resistance of $2661.470 – if broken, the next target could reach $2683.706. Traders can buy if the price breaks resistance or sell if it pulls back to support. Currently, the USD is struggling due to increased risk appetite and dovish expectations from the Fed. Traders are awaiting PMI data from both Europe and the US for new direction.
OANDA:XAUUSDLong
by Romio_pro
Weekend #btc & #gold Price Action Analysis | Market Insights &📈 Welcome to Alzubair FX! In this video, we dive into the latest price action for Bitcoin (BTC) and Gold, analyzing key levels, market trends, and potential movements for the upcoming week. Whether you're a seasoned trader or just starting, our insights will help you stay ahead in the market. 🔔 Don't forget to subscribe for daily Forex analysis and price action insights! 💬 Share your thoughts in the comments below! What are your predictions for BTC and Gold? #Bitcoin #Gold #CryptoAnalysis #ForexTrading #MarketTrends #PriceAction
by Alzubair_fx
1
Gold Awaits Fed's MoveXAUUSD is currently trading at $2,586, near the critical resistance level of $2,588.972. The upward momentum is still supported by the EMA 34 ($2,561.747) and EMA 89 ($2,536.316). However, if this resistance is not broken, the price may retrace to the support zone at $2,554.101. If the price holds above this level, gold could continue rising, aiming for the $2,614 mark. With the FOMC meeting scheduled for later today, the market is awaiting key interest rate decisions, which could cause significant short-term volatility in gold prices. Traders should closely monitor macroeconomic news signals to make informed trading decisions.
OANDA:XAUUSD
by Romio_pro
Gold Long from 2600 Range.The potential upside is strongly indicating that gold prices are no way going to settle below 2600 $ on immediate basis. The fundamental cause for this rise is was already portrayed last year on 4th December 2023. The sharp drop in gold prices on December 4, 2023, was the result of a few key factors converging to drive significant market volatility. Profit Taking: Gold had reached an all-time high in early December due to geopolitical tensions, especially in the Middle East, which drove safe-haven demand. When gold touched this high, it triggered a wave of profit-taking, as many investors sought to lock in gains, leading to a sell-off. This marked a major pivot from the price surge​( Interest Rate Expectations: Around that time, there were shifting market expectations regarding U.S. interest rates. The U.S. Federal Reserve had previously hinted at potential interest rate cuts in 2024, which initially supported gold prices. However, as markets began reassessing the timeline and pace of those rate cuts, sentiment changed. Investors became more cautious, and the anticipation of delayed cuts led to a stronger U.S. dollar, which inversely impacts gold prices, contributing to the fall​ Economic Data: Economic indicators released around the same period were not showing signs of the expected weakness. This further dampened investor optimism about an imminent rate-cutting cycle, causing a reassessment of risk positions and leading to additional selling pressure on gold​. The combination of profit-taking, shifting interest rate expectations, and economic data that did not support continued bullish sentiment drove the significant decline in gold prices starting on December 4. Now as we are today at Sept 20th, 2024, we can see the first interest rate cut from Fed has clearly been on rise for GOLD. Gold is currently on the rise due to fresh investing and this may continue for a pottential longer time than usual previous movements.
FX_IDC:XAUUSDLong
by XAUUSDANALYST
2
XAUUSD Hits Resistance, Awaiting Fed SignalXAUUSD is currently trading around $2,573, approaching a key resistance level at $2,587. If it fails to break through, the price may correct towards the support zone at $2,536 before a potential strong recovery. The EMA 34 ($2,557) and EMA 89 ($2,530) continue to support the uptrend, but with the RSI at 67.87, the market shows signs of being overbought, increasing the likelihood of a correction. Gold has attracted some dip-buying on Wednesday as rising bets on a 50 bps rate cut from the Fed test the recovery of the US dollar.
OANDA:XAUUSD
by Romio_pro
XAUUSD 19/9/2024 Downtrend is over? Looking at H1 we see that after the FOMC news we witnessed a strong price increase creating ATH at the 2600 area. Then there was a strong decrease to the 2547 area - So wave 5 has completed as expected my target. now we expect an ABC correction - Looking at the chart we see a strong decline suggesting a completed wave A, this strong decline also shows us that wave A has a 5-wave structure so this correction we expect a correction according to the ABC Zigzac correction structure - The target of wave B I expect at the 2580 - 2583 zone or the 2579 - 2600 zone this is our SELL target - After completing the target of wave B the price continues to decrease to complete wave C I expect the target to complete wave C at the price zone of 2528 - 2525 this will be our BUY target - We also have a strong support zone at the price zone of 2451 - 2448 this will be our BUY scalp zone Trading plan SELL ZONE 2580 - 2583 SL: 2590 TP1: 2570 TP2: 2562 TP3: 2551 SELL ZONE: 2597 - 2600 SL: 2607 TP1: 2590 TP2: 2579 TP3: 2562 BUY ZONE: 2551 - 2448 SL: 2561 TP1: 2562 TP2: 2570 TP3: 2579 BUY ZONE: 2528 - 2525 TP1: 2541 TP2: 2551 TP3: 2562
OANDA:XAUUSDShort
by DEEKOP
2
XAUUSD 18/9/2024 gold price has ended the correction? Looking at H1, we have a sharp and fast-moving wave 3, followed by a corrective wave 4 - According to the Elliot wave principle, wave 2 is simple, wave 4 is complex and takes more time, so we are in wave 4. - I temporarily label the small waves in wave 4 so that we can predict the end of wave 4 - Currently, looking at the price target of wave 4, we have the price range of 2565 - 2562 and the second target price range is the range of 2451 - 2448 - Looking at the structure of wave 4, we have a complex structure consisting of a Flat wave combined with a zigzag structure WXY. Looking at the wave 4 structure, we see that the correction structure may be sufficient and we expect the price to continue to increase according to wave 5 - The correction process of wave 4 is confirmed to be completed when the price breaks out through the 2590.188 zone, then we have the target zones of wave 5 above, which are the 2600 - 2603 zone and the 2616 - 2619 zone Our trading plan BUY ZONE: 2565 - 2562 SL: 2555 TP1: 2579 TP2: 2590 TP3: 2600 BUY ZONE: 2451 - 2448 SL: 2441 TP1: 2561 TP2: 2579 TP3: 2590 SELL ZONE: 2600 - 2603 SL: 2700 TP1: 2590 TP2: 2579 TP3: 2565 SELL ZONE: 2616 - 2619 SL: 2716 TP1: 2600 TP2: 2590 TP3: 2579
OANDA:XAUUSDLong
by DEEKOP
Gold Faces Resistance at 2,588 USD, Awaiting Fed SignalsGold (XAUUSD) is currently trading around 2,577 USD, facing strong resistance at 2,588 USD. If it fails to break through this level, the price may correct down to the support zone at 2,530 USD. The 34 EMA and 89 EMA, located at 2,551 USD and 2,524 USD respectively, are providing support for the bullish trend. If the price holds above support, gold may continue its rise towards the 2,560 USD level. The RSI is currently at 75.42, indicating increasing selling pressure. The upcoming Fed meeting decisions will play a crucial role in influencing gold prices.
OANDA:XAUUSDLong
by Romio_pro
1
Gold: Pullback remains elusive beyond $2,570, US data, Fed eyedGold snaps three-day winning streak while retreating from an all-time high, marked the previous day, as traders await the US Retail Sales and monetary policy announcements from the Federal Reserve (Fed), scheduled for Tuesday and Wednesday respectively. In doing so, the precious metal eases from the 61.8% Fibonacci Extension (FE) of its July-September moves. Buyers remain optimist Gold’s recent dip comes as the RSI (14) moves back from the overbought zone and marked failure to break through the 61.8% Fibonacci Extension level on prices. Sellers are also eyeing a potential bear cross on the MACD. Despite this, gold remains above the two-month-old resistance line near $2,570, keeping buyers hopeful with dovish expectations from the Fed. Technical levels to watch For intraday sellers, the $2,570 level is key as it has turned into support. If gold continues to decline, the 50% and 38.6% Fibonacci Extension levels around $2,560 and $2,540 could be next obstacles. Below these, the bears might target the month-old resistance line and an upward trend line from early August, near $2,525 and $2,515, respectively. However, gold buyers will stay optimistic unless the price clearly falls below the 200-SMA level at $2,487. On the flip side, if gold breaks above recent peaks around $2,590, it could target the $2,600 level before approaching the 78.6% Fibonacci Extension at $2,610. If gold buyers push past $2,610, the focus will shift to the 100% Fibonacci Extension near $2,650 and then the $2,700 mark. Sellers need a strong motive to retake control Overall, gold remains bullish despite the recent pullback. For sellers to gain control, they would need not only a drop below the 200-SMA but also strong US data and a hawkish stance from the Fed.
OANDA:XAUUSD
by MTradingGlobal
Gold is a totally save stock to invest money for long timeGold is a totally save stock to invest money for long time Support and resistance levels are important concepts in technical analysis, commonly used by traders to make informed decisions about buying and selling assets Here are the current support and resistance levels for gold (XAUUSD): Support Levels: $1,910: This level has shown strong buying interest recently. $1,880: Another significant support level where buyers have stepped in. Resistance Levels: $1,950: This level has been a strong resistance point. $1,980: Another key resistance level where selling pressure has been observed
TVC:GOLDLong
by EmpireCrown
Gold: Prices renew all-time high under $2,600, but expect bumpsGold prices hit a fresh record high around $2,570 early Friday as it extends the previous day’s upside break of a three-week-old resistance, now support around $2,525. This rise is fueled by increasing expectations of significant rate cuts from the US Federal Reserve and a push against a rising trend line from mid-July. A bumpy road for the bulls ahead… Despite the Fed's rate cut hopes supporting gold, an eight-week resistance line and an overbought RSI (Relative Strength Index) suggest a possible price pullback. Additionally, a potential bounce in the US Dollar, especially with upcoming reports on consumer sentiment and inflation expectations, might give gold buyers a temporary pause. Nevertheless, the breakout above resistance and bullish MACD signals keep the buyers optimistic. Technical levels to watch… To continue climbing, gold prices need to break above a two-month resistance line around $2,570. If successful, gold could quickly reach the 61.8% Fibonacci Extension (FE) level of the bullion’s late July to early September moves near $2,581 and then target $2,600. If gold surpasses $2,600, it could aim for the 78.6% and 100% FE levels around $2,610 and $2,650, respectively. If prices pull back, they might first test the 50% and 38.2% FE levels near $2,560 and $2,540. A key support level at $2,525 could also come into play. If gold drops below $2,525, it might struggle to hold above $2,500 and $2,470, making those levels significant for potential declines. What next? Gold buyers are expected to remain strong, thanks to anticipated rate cuts from major central banks like the Fed. However, there might be a temporary dip in prices before the next rally.
OANDA:XAUUSD
by MTradingGlobal
Gold Hits 2,570 USD Peak, Support at 2,521 USDGold is currently trading around its all-time high near 2,570 USD after a strong rally fueled by rising expectations of a significant Fed rate cut. The 34 and 89 EMA lines show that the upward trend is still intact, though a short-term correction is possible. Key support levels lie at 2,501 USD and 2,521 USD, where investors may find buying opportunities. Gold could rise to the 1.618 level, where it will face psychological resistance before continuing upward towards the next target at 2.618.
OANDA:XAUUSDLong
by Romio_pro
4
XAUUSD: Breaking the Resistance Zone!Gold prices are currently fluctuating within a clear resistance and support range. At present, the price is positioned between the 34 EMA and 89 EMA, indicating a tug-of-war in the trend. The 34 EMA and 89 EMA are converging, signaling a potential trend breakout as the price moves out of this range. The key resistance level is around 2,525, a zone where prices have previously been rejected, indicating strong selling pressure. There are two main support levels: one near 2,470 (Support 1) and another closer at 2,489 (Support 2). The price has tested Support 2 once and is showing signs of retesting it. If the price holds above the 2,489 support level and shows signs of a rebound, it may retest the resistance zone at 2,523.48. If this level is breached, the next target could be 2,538.21. Trading Strategy: Wait for clear signals from price action as it reaches the critical resistance and support zones. If the price breaks out of these zones, consider trading in the direction of the new trend.
OANDA:XAUUSDLong
by Romio_pro
XAUUSD Awaits Break of $2,530 Resistance Under CPI PressureXAUUSD is in a mild uptrend, trading around $2,517 with a key resistance level at $2,530. If the price breaks above this level, the uptrend could continue. However, failure to breach it may lead to a correction toward the $2,501 support level. The EMA 34 and EMA 89 are still supporting the current uptrend, but if the price falls below them, a downtrend might resume. U.S. economic news, especially the CPI report, will heavily impact gold prices, as a higher-than-expected inflation rate could strengthen the USD, putting downward pressure on XAUUSD.
OANDA:XAUUSDLong
by Romio_pro
XAUUSD 12/9/2024 will the gold price continue to decrease Looking at H1, we see a complete Elliot structure has been completed including 5 main waves and 3 abc correction waves, I used purple to symbolize on the chart - Following a complete structure is a new trend that coincides with the main trend with a 5-wave structure - Currently, we predict that wave 1 in the new trend has been completed and wave 2 is being completed - The target area of ​​wave 2 I measured at the area of ​​2508 - 2505, we will use this price area as the target to BUY up according to wave 3 - At that time, we measure the target of wave 3 at least at the area of ​​2538 - 2541 and this price area will be our Sell target to catch the wave 4 correction down - I still reserve a case that the current price wave 2 continues to adjust according to the abc structure that has not ended, then we will have a target BUY at 2494 - 2491 Trading Plan BUY ZONE: 2508 - 2505 SL: 2498 TP1: 2516 TP2: 2525 TP3: 2532 BUY ZONE: 2494 - 2491 SL: 2484 TP1: 2500 TP2: 2508 TP3: 2520 SELL ZONE: 2538 - 2541 SL: 2548 TP1: 2531 TP2: 2525 TP3: 2517
OANDA:XAUUSDLong
by DEEKOP
Gold poised to surge on NFP and U.S. inflation data.Tonight, key figures for NFP, Employment Change, and the U.S. Unemployment Rate will be released. The labor market outlook is predicted to be negative, with Nonfarm Payrolls expected to reach only 164K and the unemployment rate to drop to 4.2%. Average hourly earnings are forecasted to increase from 0.2% to 0.3%, indicating rising inflation pressure. This could cause significant volatility for the USD and push gold prices higher. The 4H XAUUSD chart shows a breakout from the downtrend channel, with gold surpassing resistance at 2,526 USD and support from EMA 34 (2,505 USD) aiding the upward move. Interestingly, after this breakout, gold is likely to continue toward the target of 2,550 USD, a level many investors are anticipating. Stay updated with market news for more accurate trading. Wishing everyone successful trades.
OANDA:XAUUSDLong
by Romio_pro
Gold: Edges higher within bullish channel, focus on $2,530 & NFPGold buyers are gearing up for potential weekly gains as the metal rebounds from a resistance-turned-support level that's been holding steady for seven weeks. With the crucial US August jobs report, including the Nonfarm Payrolls (NFP), on the horizon, traders are cautious before the release. A smoother road for bulls Gold's recent bounce from past resistance and a 2.5-month-old bullish trend channel suggest more gains ahead. That said, supportive RSI and weakening bearish MACD signals also favor buyers. Important technical levels to watch A 13-day-old descending trend line, close to $2,530 at the latest, guards immediate upside of the gold price ahead of the all-time high surrounding $2,532 marked in August. Following that, the aforementioned bullish trend channel’s upper line, close to $2,558, and the $2,600 round figure will gain attention of the buyers. On the contrary, sellers will wait for a clear downside break of the multi-day-old previous resistance line, near $2,470 as we write, for taking fresh entries. Even so, a convergence of the 50-SMA and bottom line of previously stated bullish channel, near $2,439, will be a tough nut to crack for the bears before taking control. It’s worth noting that the 100-SMA level around $2,388 acts as an additional downside filter. What Next? Gold buyers are poised for potential new highs, but gains might be limited before the key US jobs data is released.
OANDA:XAUUSD
by MTradingGlobal
XAUUSD 6/9/2024 Where will the uptrend end? Looking at H1 we are seeing a 5-wave bullish structure forming, - Currently looking at the price data, the wave 4 structure is forming, the completion of wave 4 and wave 5 are confirmed when the price breaks through 2523, then we have the confirmation of wave 5. - After a 5-wave structure will be an adjustment according to the 3-wave ABC structure. - I have estimated the wave 5 target at the price range of 2530 - 2533, which is also our SELL target - Then the ABC correction structure has a target to end at the price range of 2500 - 2497, which will be our BUY target. - I still do not rule out the possibility that the big correction wave has not been completed yet, then the target of wave C that I mentioned in the previous plan is the price zone of 2464 - 2467, which will be our BUY target when the price breaks through 2472 Our trading plan will trade according to the ABC downtrend and wait for the ABC downtrend structure to complete, then we will BUY up Trading plan SELL ZONE: 2530 -2533 SL: 2540 TP1: 2523 TP2: 2518 TP3: 2509 BUY ZONE: 2500 - 2497 SL: 2400 TP1: 2518 TP2: 2523 TP3: 2530 BUY ZONE: 2467 - 2464 SL: 2457 TP1: 2482 TP2: 2493 TP3: 2518
OANDA:XAUUSDLong
by DEEKOP
XAUUSD 4/9/2024 complex correction has ended? Looking at H1, the complex correction process will create very difficult conditions for determining the specific structure of the wave. In such a situation, we will rely on the Fibonacci measure to determine the target price zones for the end of the entire correction process based on the previous up wave. - With such an approach, I will determine the target price levels for this correction downtrend. - Looking at the chart, we have a temporary 5-wave structure formed. We will rely on this combined with Fibonacci to set up trading zones - Case 1 if wave 5 has ended, then we expect the price zone 2482 - 2479 to BUY Case 2 if the price breaks below 2473, then the price zone ending wave 5 will be the price zone 2464 - 2467 - Above the strong supply zone 2510 - 2507 has not been broken yet, so this is still our target to SELL - Next is the zone 2515 - 2518, this is the strong supply zone above that we choose to place a SELL order/ Trading plan BUY ZONE: 2482 - 2479 SL: 2472 TP1: 2492 TP2: 2582 TP3: 2499 BUY ZONE: 2464 - 2467 SL: 2454 TP1: 2478 TP2: 2492 TP3: 2499 SELL ZONE: 2510 - 2507 SL: 2520 TP1: 2510 TP2: 2491 TP3: 2482 SELL ZONE: 2515 - 2518 SL: 2525 TP1: 2510 TP2: 2491 TP 3: 2482
OANDA:XAUUSDLong
by DEEKOP