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Goldtrading

What 1 hr chart says ?Fundamental Descriptions: Gold was down on Thursday morning. Investors are digesting the U.S. consumer price index (CPI), which suggested inflation remains high but has peaked in April, easing some concerns about more aggressive interest rate hikes from the Federal Reserve. Looking ahead, Gold Price will continue to remain at the mercy of the US dollar price action and broader risk tone, as the Fed expectations and growth concerns keep leading the way. Technical view: Gold Price tested offers below the critical 200-Daily Moving Average (DMA) at $1,836 on Wednesday, although bulls defended the latter allowing an impressive recovery. The renewed upside in XAU/USD seems to be fading this Thursday, as the price is looking to surrender the previous week’s low and the psychological level at $1,850. Alternate Scenario: Acceptance above Tuesday’s high of $1,865 is needed for Gold bulls to cement a meaningful recovery towards $1,884. Further, the $1,900 mark will challenge the bearish commitments.
FOREXCOM:XAUUSD
by RASteven
What 1 hr chart says ?Fundamental Description: Gold was down during early hours in Asia, hitting its lowest level since February 11, as investors eyed the rising dollar and inflation data. " I know that families all across America are hurting because of inflation,” U.S. President Joe Biden said in a speech a day before the release of Consumer Price Index (CPI) data. Technical View: The Technical Confluences Detector shows that the Gold Price is testing the bullish commitments at critical support of $1,836. On the upside, any recovery could gain momentum only on a sustained break above the previous high in four-hour time frame at $1,851 could be tested. Alternate Scenario: Further down, sellers will target the pivot point at $1,822. The last line of defense for gold bulls is seen at $1,817.
FOREXCOM:XAUUSD
by RASteven
What 1 hr chart says ?Fundamental Descriptions: Gold was up on Tuesday over the weakening dollar. Investors now await inflation data. The precious metal has become more precious as a rebound in the positive market sentiment has trimmed the US dollar index safe-haven appeal. Worries over the impact of the Chinese covid curbs on the world’s no. 2 economy aggravated after the country reported trade surplus at two-year lows. Meanwhile, the Fed’s outlook on monetary policy normalization combined with the Ukraine crisis-led surging inflation continued to add to the gravitational forces around the Gold Price, as the greenback’s safe-haven appeal remained underpinned. Technical View: The 200-SMA at $1,880 will be the level to beat for gold bulls should the recovery momentum continue. The Relative Strength Index (RSI) has turned flat below the midline, suggesting that the rebound could be losing steam. Alternate Scenario: If sellers return, then the immediate downside target is seen at the previous day’s low of $1,852, below which the psychological $1,850 level. A fresh downswing will be initiated on a sustained move below the latter, opening floors towards the critical $1,835 demand area.
FOREXCOM:XAUUSD
by RASteven
What 1 hr chart says ?Fundamental Descriptions: Gold portrays the risk-aversion wave during early Monday morning in Europe as it drops below the short-term key support, now resistance around $1,875. Market sentiment sours as China’s covid conditions, G7 sanctions on Russia join fears of Fed’s faster rate hikes. Despite Friday’s rebound, the path of least resistance for Gold Price remains down, given that the metal has carved out a bear flag on the daily chart. Daily closing below the rising trend line support at $1,868 will confirm the bearish continuation formation, opening floors for a fresh sell-off towards the $1,850 psychological barrier. Technical View: As of writing, gold is trading at 1872. Any upside effort may lead its path back to the level of 1882, which is our S2. Alternate Scenario: Break below 1866, may result in more weakness in the prices of gold in near term.
FOREXCOM:XAUUSD
by RASteven
Gold Price Predictions for 2022In the previous trading session, MCX Gold made a high of 51538 and closed at 51343 ( +444 ). A question is, is it moving upward? To identify uptrend: There are two hurdles to continuing the uptrend. It should break out the 5th May high or settle above the control line. According to the above chart, Gold is forming a bullish flag pattern. And we're waiting for a breakout of the flag pattern. This breakout will skyrocket the gold price, and we can see 6400+ points of bullish movement here. Long-term target for gold 58000 - 60000 . Gold downtrend confirmation: But if gold breaks the support trendline (invalidation), then a downtrend may start. And if it happens, I will update you asap. At present, intraday traders can keep buying for targets of 51500 - 51800+ levels. Watch significant releases or events that may affect the movement of gold, silver, and crude oil. Monday, May 09, 2022 04:30 FOMC Member Bostic Speaks - Medium Impact 11:00 Investing.com Gold Index - Medium Impact 18:15 FOMC Member Bostic Speaks - Medium Impact Tuesday, May 10, 2022 17:10 FOMC Member Williams Speaks - Medium Impact 18:00 FOMC Member Bostic Speaks - Medium Impact 21:30 EIA Short-Term Energy Outlook - High Impact Wednesday, May 11, 2022 00:30 FOMC Member Mester Speaks - Medium Impact 02:00 API Weekly Crude Oil Stock - Medium Impact 04:30 FOMC Member Bostic Speaks - Medium Impact 18:00 Core CPI (MoM) (Apr) - Medium Impact 20:00 Crude Oil Inventories - High Impact 22:31 10-Year Note Auction - Low Impact 23:30 Federal Budget Balance (Apr) - Low Impact Thursday, May 12, 2022 10:30 Natural Gas Storage - Low Impact 13:30 IEA Monthly Report - Medium Impact Friday, May 13, 2022 08:30 Import/Export Price Index (MoM) - Low Impact 11:00 FOMC Member Kashkari - Medium Impact 12:00 FOMC Member Mester Speaks - Medium Impact 13:00 U.S. Baker Hughes Oil Rig Count - Medium Impact
MCX:GOLD1!Long
by forextidings
5
What 1 hr chart says ?Fundamental Descriptions: Gold Price has regained some strength as responsive buying kicks in after the precious metal tumbled to near $1,866.15 in the Asian session. Gold is likely to trade lackluster in the European shift as investors are on the sidelines ahead of the release of the NFP. The Fed on Wednesday hiked its interest rate to 1%, and the Bank of England followed by raising its interest rate to 1% a day later. Technical View: If gold buyers manage to hold above the 200-SMA support, then the road to recovery could challenge the bear at $1,886. The next significant resistance is pegged at the $1,900 round level, above which the rising wedge upper barrier at $1,912 will be probed. Alternate Scenario: Break below the above mentioned (wedge) trend line support at $1,872 will validate the bearish continuation formation. A retest of the three-month low of $1,850 will be on the probable side.
FOREXCOM:XAUUSD
by RASteven
What 1 hr chart says ?Fundamental Descriptions: Gold Price is capitalizing on an overdue correction in the US dollar, as the Fed poured cold water on aggressive tightening bets. Fed Chair Jerome Powell explicitly said Wednesday that the US central bank is not considering a 75 bps rate hike in June, sounding a less hawkish tone than markets had expected. Powell also appealed to Americans struggling with high inflation to be patient while policymakers take the hard measures to bring it under control. Gold, which is often perceived as a hedge against rising costs, jumped 1% in the previous session on Powell's statement. U.S. Treasury yields also fell sharply on Wednesday, boosting the yellow metal. Technical View: As of writing, gold was trading between S1 and S2. We may see it to make a another bull run towards 1920 , a support turned resistance in our chart. Alternate Scenario: Any failed bull attempt may drag down the prices of gold back to the level of 1880.
FOREXCOM:XAUUSD
by RASteven
What 1 hr chart says ?Fundamental Descriptions: Gold was down on Wednesday morning in Asia as U.S. Treasury yields rose and the upcoming policy decision from the U.S. Federal Reserve dented demand for the yellow metal. The Fed is widely expected to announce a big interest rate hike in an effort to curb high inflation when it hands down its policy decision later in the day. The Federal Open Market Committee will release its policy statement, followed by Fed Chairman Jerome Powell’s news conference. Technical View: Gold Price remains vulnerable after Tuesday’s dead cat bounce. The US dollar is set for a big break higher on an increasingly aggressive Fed. Rejection at 100-DMA recalls sellers, with eyes on the 200-DMA at $1,835. As of writing, it is trading near 1870, well below our previous support S2. It is to be seen whether the bull will be able to re test 1880-1890 price zone. Alternate Scenario: A 50-basis point hike is now priced in by markets. Any aggressive hawkish bets for future in order to curb rising inflation may pressure gold in near term.
FOREXCOM:XAUUSD
by RASteven
What 1 hr chart says ?Fundamental Descriptions: Gold was up on Friday, as worrying U.S. GDP data drove some investors towards the safe-haven asset. However, the yellow metal is set for its biggest monthly drop since September 2021 as the U.S. Federal Reserve widely expected to aggressively hike interest rates. Month-end flows combined with profit-taking have triggered a sharp correction in the US dollar against its major rivals, aiding Gold Price to recover sizeable ground above the $1,900 mark. The dollar, which normally moves inversely to gold, was down on Friday but steadied off the 20-year high it reached against rival currencies during the previous session. Technical View: As of writing, gold is trading below 1920, which is our previous S2, now acting as a resistance. Any further upside may lead it to the level of 1925. Alternate Scenario: Break below 1907, may confirm bearish sentiment in gold during the session.
FOREXCOM:XAUUSD
by RASteven
What 1 hr chart says ?Fundamental description: Gold Price is attempting a recovery from two-month lows of $1,872, heading back towards the $1,900 threshold. Investors resort to profit-taking in their US dollar long positions following the latest upsurge while progressing towards critical America’s Q1 preliminary GDP release. The world’s largest economy is likely to see a dramatic slowdown in growth in the beginning of this year. If the US GDP prints a negative reading, the dollar rally could regain momentum, as recession fears could likely creep in and trigger a flight to safety across the board. Technical view: As of writing, gold is trading near our S2. In 1 hr time frame it is trading near upper line of Bollinger bands. Reversal from that level may be seen during the session. Alternate scenario: Bull may come forward to rescue gold in near term. But it will be interesting to see how strong they are in near term.
FOREXCOM:XAUUSD
by RASteven
What one hour chart says ?Fundamental Description: Fundamental remains almost same for the gold during past 20 hours. As we can observe from the movement of gold that it is trading in the range of $1896-$1907. ECB president Lagarde speech is due for today. Meanwhile, Russia halted gas supplies to Poland and Bulgaria until payment are made in Rubles. Headlines from Russia provided some support to gold as investors sought safe havens, but the war in Ukraine has not been as much of a bullish momentum. Short term technical view: On Tuesday, we have seen that the gold was not able to hold it upside bias. Yesterday gold was unable to breach 1915 level. I expect it to trade with bearish momentum in near term. Gold is still trading near S2. From a technical perspective, the metal's inability to capitalize on the move and acceptance below the $1,900 mark support bearish traders. Sustained weakness below the $1,890 horizontal support will reaffirm the negative bias and pave the way for additional losses. Alternate Scenario: Bull may come to rescue gold in near term. If it holds above $1911 level.
FOREXCOM:XAUUSD
by RASteven
More upside for the gold is on the card.Fundamental Description: We have seen bearish reversal for the gold (XAU/USD) during past few trading sessions. Gold is now vulnerable to rising Covid-19 cases in China and hawkish stance from federal reserve. As of writing, it is trading slightly above 1900 marks. It is still to be seen how it performs during the last few sessions of the month. The war in Ukraine resulted by the Russian invasion on Feb. 24 continues. While it warned that the risks of a nuclear war should not be underestimated, Russia said that it wanted to reduce those risks. Short term technical view: We have seen reversal from the intraday low of 1895.78. It may retest its previously support turned resistance level of 1915 during the session. As per technical, RSI is around mid level of 50 . During past few session, we have seen bearish pressure from the mid level of RSI. As U.S. CB Consumer confidence data is due for today, we may see spikes in prices for the gold. Any upside movement can lead to the level of 1915. My recommendations for the gold is to buy from the current level for the TP of S1 with the stop loss of S2. Those with bearish look can wait for the market reaction after the release of the U.S. data, with the target of S2 and stop loss above S1. Alternate scenario: If we are unable to get closing above 1915, then bear may come forward to take prices below 1900 level.
FOREXCOM:XAUUSD
by RASteven
1
Gold M levels for 26-4-2022It is possible to test upper trend line and fall from there, IF RSI indicator stable in between 60-40 zone in 1 hour tf, no trade today. Note: Always try to find a good price action patterns or any candle stick patterns in marked zones in smaller timeframe to take entry with small stop loss. If you follow diagonal trendlines you can take entry and exit easily. (Color code (only for diagonal trendlines ): green - bullish, red - bearish, black & violet reversal points). If any doubt for take entry in price action patterns, please ask in comment box, i will try to help. Disclaimer: Im not tip provider and this chart is not indented to take trade in my levels, It is shared here for learning purpose. It is all your own risk.
MCX:GOLDM1!
by Elango-ragavan
Gold's Golden Rule Of 89% (Pack Your Bags For Big Ride)Gold's Golden Rule Of 89% Golden history of last 50 years have shown that Gold has give big move whenever there is a minimum 89% move from bottom. Chart is self explanatory. There are three successful incident of min 89% move and two unsuccessful incident of less than 89% move. Successful Incidents 1. 1970 - 1972 2. 1976 - 1978 3. 1999 - 2005 Unsuccessful Incidents 1. 1982 - 1983 2. 1985 - 1987 Fourth move in the making from 2015 - till date. So Gold is getting ready to fly again. Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
FX_IDC:XAUUSDEducation
by MandeepSinghKohli
18