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Goldlong

Gold upcoming move 2266 above bullishGood Morning Traders, Till the time Gold is moving in Alien (un known)zone. We cant predict gold retracement zone from where gold can return, So we are using a old method Fibonacci Reverse Levels. In which you can see in Chart we can expect gold levels from where we can see the reversal or retracements and the levels are 2288, 2293 and 2300. So we can see these levels soon, We are not recommended any sell for now. marekt is totaly bullish as per all time frames and Geo political situation. We can see sell from high levels as given.
FOREXCOM:XAUUSDLong
by FCSASHISHJAIN
1
Gold Price Looks for UPTREND * Gold Price Movement: Gold prices are uncertain and fluctuating. * Upcoming Data Release: The market is waiting for the US core PCE price index data for November. * Fed Bostic's View: Atlanta Fed President Bostic sees no urgency for interest-rate cuts, emphasizing the strength of the US economy. * Fed Barkin's Approach: Fed's Barkin is data-dependent for rate cuts in 2024. * Current Gold Price: Gold is trading around $2,040. * Inflation and Interest Rates: Inflation is expected to soften with higher interest rates by the Fed. * Investor Optimism: Investors are optimistic about future rate cuts in 2024, despite warnings from the Fed about maintaining restrictive interest rates. * Divergence in Projections: Bostic's view contrasts with the median projection of three rate cuts, creating uncertainty in the market.
OANDA:XAUUSD
by tradewith_ritik
Gold Outlook 2024:Analyzing Bullish Trends, Key Resistance LevelBullish Bias: Weekly chart indicates a bullish bias for Gold. Relative Strength Index (RSI) comfortably above 50. RSI-based 20-period Moving Average provides additional support. XAU/USD remains within the upper half of a long-term ascending regression channel. Key Levels: Interim resistance at $2,060 with 61.8% Fibonacci trend-based extension. Confirmation of support at this level could lead to a test of $2,125-$2,150. Potential profit-taking in this range may temporarily impede the uptrend. Further bullish targets at $2,200 and $2,440 based on Fibonacci extensions. Sustaining above $2,200 is crucial for continued buyer interest. Downside Support: Strong support at $1,960-$1,950, including the 20-week SMA, 50-week SMA, and mid-point of the ascending regression channel. Failure at this support could lead to a decline to $1,880 (100-week SMA) and $1,850 (200-week SMA). Weekly close below $1,850 may attract additional sellers, opening the door for a move toward $1,800 (lower limit of the ascending regression channel). Summary: Gold is bullish with potential resistance at $2,060 and further targets at $2,125-$2,150, $2,200, and $2,440. Strong support is seen at $1,960-$1,950, and a failure could trigger a decline towards $1,880 and $1,850, with $1,800 as a lower limit. Investors should monitor key levels for potential trend continuation or reversal, and the sustainability of support and resistance levels is crucial for determining the next directional move in the Gold market.
OANDA:XAUUSDLong
by tradewith_ritik
GOLD PRICE TECHNICAL ANALYSIS ( DAILY CHART )Fiday’s pullback in Gold price from near 8-day highs of $2,048, the path of least resistance still remains to the upside. The daily technical setup for Gold price will continue to favor bullish traders so long as the 14-day Relative Strength Index (RSI) indicator holds above the midline and the price manages to defend the 21-day Simple Moving Average (SMA) at $2,016. A daily closing below the latter could fuel a fresh decline toward the 50-day SMA at $1,982. However, the $2,000 threshold could be a tough nut to crack for Gold sellers. On the flip side, acceptance above the $2,040-$2,050 region is critical to resuming the Gold price recovery toward the $2,100 psychological level. The next bullish target is envisioned at the all-time highs of $2,144. REGARDS TRADE WITH RITIK
OANDA:XAUUSDLong
by tradewith_ritik