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XAU/USD Analysis: Sideways Range and Awaiting BreakoutGold (XAU/USD) is currently in a sideways consolidation phase on the H4 timeframe, with price oscillating between key levels. After reaching a recent high near $2,685, the price has now settled around the $2,640 - $2,650 range. The market is awaiting significant catalysts, including key US labor market data later this week, which could trigger a breakout from this tight range. Key Levels to Watch: Support : $2,630 - $2,640. This zone has acted as a floor, where buyers have previously stepped in. Resistance : $2,665 - $2,685. A breakout above this level could pave the way for further upside momentum. Strategy : While Gold is currently moving sideways, traders should wait for a confirmed breakout either above resistance for a long position or below support for a potential short. A bullish breakout could target $2,700, while a break below $2,630 could signal further downside towards $2,600. Trade Plan: Buy: On breakout above $2,665, targeting $2,685 and potentially $2,700. Sell: On breakdown below $2,630, targeting $2,600. With important economic data ahead, it's critical to monitor both technical setups and fundamental news, as they will likely influence the next move. OANDA:XAUUSD FOREXCOM:XAUUSD FXOPEN:XAUUSD
FOREXCOM:XAUUSD
by Trading_Zone_3773
XAUUSD - Positional Short SetupCMP - 2326.41 on 30.06.24 The price movement in recent sessions is analyzed on the chart. If it does not cross and sustain above the 2340-50 levels, this setup remains valid with a short view. Possible targets may be 2280/2200. The setup becomes invalid if the price sustains above 2350 for a couple of days. One has to choose the position size following risk management. Always think about the exit/stop loss while entering into a trade. This illustration is only for learning and sharing purposes, not a bit of trading advice in any form. All the best.
FXOPEN:XAUUSDShort
by anandlive
Gold $ International Chart (Bird View)Analysis On 14th December 2022 This is a Bird View so Possible Movement of Gold in a Daily TF for a Medium-term view. >Wave Counts - Recently, Gold has just reached to Depth of Correction point in Minute Cycle of Wave Count , while in an Intermediate Cycle, it seems like Wave C is still on. Furthermore, Last month's upward journey is still not break 50% (Healthy Retracement) of retracement compared to top of B wave (Intermediate Cycle). (Bearish) Divergences - There is multiple divergences, we can see in above chart, 1. Bearish Continuous Divergence between 2nd wave and C wave within the C wave (Intermediate Cycle). (Bearish) 2. Bearish Reversal Divergence in Wave C (Minute Cycle), Where some sort of Upward Triangle Chart Pattern Has Formed. (Bearish) After all, I expect one more downside leg which is 5th wave in Minor Cycle, till Depth of Correction in Intermediate cycle of 4th Wave (1451.41 $) Have a Good Day!!
TVC:GOLDShort
by KRSCharts
2
Gold Trend 16/11Gold renewed the 2-month high yesterday, but the selling pressure was intense. The day began at 1771; the price was bounded in a tight range between 1766-74 in early trading. It tried to clear the resistance at 1780, touching the day-high at 1786 at the US session opening. The day ended at 1778, up by USD 7. After three attempts(2) yesterday, gold failed to clear the selling resistance above 1780. A horizontal range(3) has formed on the 1-hour chart. For the uptrend channel to stay in effect, the price must stay above 1770 in the European session and later jump above 1780 in the US session. If the price fails to do so, it will signal the bullish momentum slowing down, leading an S-T to consolidate toward 1750 in the next 24-48 hours. It will be the first sign of the trend reversing if the price close below 1771. Also, pay close attention to the 5-day MA; if this support clears, a consolidation toward 1730 may happen. S-T Resistances: 1785-87 1780 1775 Market price: 1771 S-T Supports: 1765 1760 1755 If you like our work, kindly give our team a thumbs up. Feel free to leave a comment; let us know what you think! P. To
TVC:GOLD
by 1uptick
Gold Trend 15/11Gold reached a new 2-months high yesterday. The day began at 1765; the price rallied toward the day-low at 1753 throughout the Asian and European sessions. As the market approached the US session, the buying resumed. Gold reached a new 2-months high at 1775. The day ended near 1771, unchanged from the day before. The trend remains upward on the 1-hour chart as the price is still running within the uptrend channel(1). The S-T upside target sits at 1780(2), aiming to touch 1800(3) later this week. The bullish trend started after gold escaped the downward wedge pattern(4) last week. The reversal signal has yet to appear on the daily chart, while the price has been closing near the day-high without any signs of profit-taking and short-selling in the last few trading days. Expected the upwardtrend to remaining, target Aug's peak at 1800-05. S-T Resistances: 1785-87 1780 1775 Market price: 1771 S-T Supports: 1765 1760 1755 If you like our work, kindly give our team a thumbs up. Feel free to leave a comment; let us know what you think! P. To
TVC:GOLD
by 1uptick
XAUUSD Analysis until NOV 2nd, Interest rate announcement! 📉 Gold - Bearish - We look to Sell at 1615.08 ▪ The medium-term bias remains bearish. ▪ Following last week's retracement candle, the overall trend is set to continue downside. ▪ A firmer opening is expected to challenge bearish resolve. ▪ Prices are expected to stall near trend line resistance at 1675-1680.50 levels. ▪ We look to sell rallies in the coming weeks or so. -Heavy volatility is expected after the Interest rate announcement on the 2nd of Nov. Confidence: ⭐⭐⭐⭐⭐ ⛔ Stop 1615.08 🎯 Target 1: 1601.70 🎯 Target 2: 1575.30
OANDA:XAUUSDShort
by Tradeshala