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XAUUSD: Up or down?Hello everyone!! The price of gold today is mainly flat with not much fluctuation around the $2021 mark. With a visible resistance level at $2035 and positioned below the EMA 34 and 89 lines, the downward trend is still continuing despite signs of cooling down. Regarding news that affects the price of gold, investors are anticipating important economic reports from the US this week, including the PMI report, Q4 GDP data, and personal spending. This information will provide new indications about the Fed's interest rate policy. According to the CME FedWatch Tool, the likelihood of a Fed rate cut in March has decreased from over 70% to 43.5%, weakening the potential for a sharp increase in gold prices. RKarina predicts that the price of gold may continue to decline but still remain within the defensive range from $2005 to $2008. Gold still has a chance to reverse its direction if it holds above this support level. What are your expectations for the price of gold in the near
OANDA:XAUUSD
by RKarina
XAUUSD: Buy or Sell?Dear friends, currently the price of gold has dropped by about 6 USD after reaching a high of 2031 USD, following a clear downward trend on the chart. This is due to the strengthening of the US dollar, as the Federal Reserve is unlikely to cut interest rates in March. As a result, investing in gold becomes more expensive due to higher interest rates. In addition, the core personal consumption expenditure index of the US, an important measure of inflation, also affects the Federal Reserve's decision on monetary policy easing. However, macroeconomic data from the US may not have a significant impact if the price of gold remains below 2,000 USD/ounce. James Stanley, a senior strategist at Forex, predicts that the price of gold will stabilize around the 2,000 USD/ounce mark. He emphasizes that any price below this level would be a buying opportunity for investors.
OANDA:XAUUSDShort
by RKarina
How does gold price change?It is great to meet you all again to discuss today's gold trading strategy! At the beginning of the new week's trading session, gold prices have slightly increased. At the time of writing, the price is trading around $2029, marking a growth of $4 compared to the previous closing. Looking at the prospects for this week, all eyes are focused on the fluctuations of the USD in the context of monetary policy decisions by major central banks. In particular, the European Central Bank (ECB) will be closely monitored. Their recent stance at the World Economic Forum in Davos could significantly impact the USD and potentially support the price of gold. What do you think? How will gold perform this week?
OANDA:XAUUSDLong
by RKarina
How does gold price change?Hello dear friends! The price of gold in the global market has increased at the start of trading in the US due to safe-haven demand amid escalating tensions in the Middle East. The weakening US dollar is a supporting factor for the rise in gold prices. The long-term outlook for gold is positive. However, the upward momentum may be delayed as the market is trying to assess the possibility of a US interest rate cut. Lower interest rates reduce the opportunity cost of holding precious metals. Currently, according to the CME FedWatch tool, traders expect a 47% chance of a Fed rate cut in March. This percentage has decreased from 71% last week, which is significant in the short term. In the future, the upward price momentum may decrease significantly.
OANDA:XAUUSDShort
by RKarina
Xauusd: trade in the direction of the trendHello dear friends! On the last day of this week's trading session, gold experienced a gentle recovery with prices fluctuating around $2030, marking a 0.33% increase for the day. However, it also faced immediate resistance at this level, along with the activity zone of the 34th and 89th EMA. The price may retreat to $2010 if there is end-of-day news supporting the USD. Conversely, if the price successfully surpasses that resistance level, it will open up strong buying opportunities with a target of $2055.
OANDA:XAUUSDShort
by RKarina
Gold breakout discount strategyDear friends! Currently, gold is trading with a stable recovery above the support level of $2030. At the time of writing, the price is trading at $2047, indicating a significant increase in price at the current time. On the analysis chart: Gold has broken the support level of $2059 and started a downward trend. Therefore, the stronger US dollar and higher US bond yields are putting pressure on the yellow metal. Regarding the outlook: Gold is currently experiencing a slight recovery towards the previously broken resistance area. However, with the market still in a downward price control, any breakout action could quickly push gold down to the defensive level of $2020
OANDA:XAUUSDShort
by RKarina
1
How does gold change momentum?Hello dear traders! On Wednesday, Gold experienced a sharp decline, reaching the psychological support level of $2000. However, it quickly corrected and has been lingering around $2022, close to the Fibonacci retracement levels of 0.5-0.618. This indicates that the prospects for this precious metal remain high. However, if it manages to surpass this retracement level and break through the temporary resistance at $2033, it could open up more opportunities for gold to recover even stronger, fueled by the tensions. Escalating political conflicts will pose high risks globally. Economies will continue to face inflationary pressures due to supply shortages. This will hinder global economic recovery, leading to an increased demand for gold as a safe haven and a hedge against risks. The forecast suggests a significant rise in gold prices as tensions persist.
OANDA:XAUUSD
by RKarina
Gold price recovery lacks momentum within bearish channelGold price lacks clear directions after bouncing off the lowest level in five weeks, as well as snapped a two-day losing streak, the previous day. That said, the previous support line stretched from early November guards the immediate upside of the XAUUSD around $2,022. As the RSI (14) line’s recovery joins the impending bulls cross on the MACD to back the precious metal’s rebound, the quote is likely to surpass the nearby hurdle surrounding $2,022. However, the 200-SMA and the top line of a three-week-old bearish channel, respectively near $2,037 and $2,051, will challenge the bullion buyers afterward. In a case where the prices remain firmer past $2,051, the odds of witnessing a quick rally toward the $2,090 horizontal resistance region can’t be ruled out. Meanwhile, the 61.8% Fibonacci ratio of the metal’s November-December upside, near $2,015, restricts nearby declines in the Gold price. Following that, the aforementioned channel’s bottom line, close to the $2,000 psychological magnet, will precede the previous monthly low of around $1,973 to act as the final defense of the buyers. Should the XAUUSD remain bearish past $1,973, the downside momentum will aim for November’s bottom surrounding $1,930. Overall, the XAUUSD remains bearish unless it manages to defy the descending trend channel formation backed by the downbeat US Dollar.
OANDA:XAUUSD
by MTradingGlobal
Gold: continues to weakenHello dear friends! Gold prices continued to decline today, with a drop of $25, bringing it down to $2,001 per ounce. However, the market quickly rebounded to $2,010 at the time of writing. As a result, gold prices have reached their lowest point in over a month during this week's trading session. Strong economic data has reinforced the strength of the US dollar and bond yields, dampening market expectations of a rate cut by the US in March. Closing below $2,015 per ounce indicates that the sideways range has been broken, and this precious metal is entering a bearish territory. It is expected to reach $2,000 once again and could potentially drop even further to $1,990.
OANDA:XAUUSDShort
by RKarina
The price of gold continues to plunge headlong into a deep holeToday, gold prices traded near the support level of $2000 in the afternoon in the US, as investors continued to bet on the Federal Reserve cutting interest rates in March. The CME tool shows a 52% probability of this event happening, down from around 70% a few weeks ago. In response to this news, the USD continued to strengthen and acted as a psychological arrow for investors, prompting them to sell gold massively, resulting in a sudden drop in gold prices. On the analysis chart: Gold has surpassed the USD 2015 support level as we expected. With the current difficult situation, there is still a significant possibility of a decrease in gold prices. The target of $1982 is still on the table in the short term, with a short-term recovery possibly aiming for the Fibonacci 0.618 level before the bearish side takes action!
OANDA:XAUUSDShort
by RKarina
XAUUSDHello smart and wealthy traders! Today, gold continues its downward trend, currently fluctuating around the $2023 mark. This represents a $5 decrease for the day and over $30 decrease since the beginning of the week. This decline is mainly attributed to recent positive news about the USD, which has shaken the confidence of traders, leading to selling of gold to secure profits. Looking at the technical analysis chart, gold appears to be forming a "cup and handle" pattern, supported by bearish signals from the 34 EMA line. If gold surpasses the critical support level at $2015, we may see a more significant decline, targeting the buyers' defense zone around $1980.
OANDA:XAUUSDShort
by RKarina
How has the price of gold changed today?Dear friends, currently the price is still in a downward trend, with prices sometimes dropping to $2020 after the market correction. However, gold has quickly rebounded slightly and is trading around $2028 at the moment. Meanwhile, financial investors are focusing their capital on stocks. As a result, there is very little money flowing into precious metals. It is understandable that the decline in gold prices today has not stopped. Market participants are betting that the Federal Reserve (Fed) may start cutting interest rates after March. Indeed, reducing inflationary pressures will confirm that idea, despite the latest data showing a tightening labor market. The CPI index may affect sentiment, and as a result, the US dollar will trade accordingly. From a technical analysis perspective, the Relative Strength Index (RSI) is gaining strength and rising above 50.00, supporting another segment towards the psychological resistance level of $2050. However, this downward trend has not yet stopped, so any breakthrough below the support level of $2016 will push prices down significantly. Support levels: $2016.60, $1998.65, $1987.20 Resistance levels: $2040.30, $2052.30, $2065.45
OANDA:XAUUSDShort
by RKarina
Gold suddenly turned down in priceToday, we witnessed a change in the price of gold, dropping from $2,054 to $2,028 per ounce on Wednesday morning. This seems to be partially due to comments from officials at the Federal Reserve (Fed), indicating that it will take a while for the United States to reach its 2% inflation target. Meanwhile, the Fed is not rushing to cut interest rates and will only consider doing so when inflation significantly decreases. This has sparked speculation that the Fed will maintain the current interest rates after the meeting concludes on January 31. Following this information, the US Dollar Index has risen to 103.35 points. The strengthening of the USD is putting downward pressure on gold prices, potentially pushing them towards the support level of around $2,015. What are your thoughts on the future trajectory of gold prices?
OANDA:XAUUSDShort
by RKarina
XAUUSD: bullish optimism? The price of gold is trading quite flat, decreasing by nearly 5 USD and hovering around the 2050 USD mark. The market seems to be in a lull after the holiday break for banks. Further price declines could be seen at the triangle support level of 2,049 USD. Additionally, the support level of 2,027 USD on Friday could provide temporary relief for gold buyers. On the upside, a strong resistance level is observed at around 2,060 USD, above which a static resistance level at 2,080 USD will come into play. If the upward momentum gains strength, it cannot be ruled out that there may be a retest of the barrier at 2,100 USD.
OANDA:XAUUSDLong
by RKarina
Gold price is stableCurrently, the price of gold is fluctuating around $2050 and has decreased by nearly $8 compared to the previous trading day. Overall, at the beginning of the week, gold did not experience significant changes in trend due to the closure of the US market for the Martin Luther King Jr. holiday. However, escalating geopolitical tensions in the Red Sea and a risk-averse environment still benefit safe-haven assets like gold. Retail sales figures for December will be released on Thursday, along with preliminary estimates for the University of Michigan Consumer Sentiment Index for January on Friday. The focus will continue to be on inflation, as Canada, the UK, Germany, and the Eurozone will publish updates, which will directly impact the price of gold whether it experiences a breakthrough increase or decrease
OANDA:XAUUSDLong
by RKarina
2
XAU/USD -Medium term Sell-off post US & UK attackIt looks likely that Gold will experience sell off From 2053 to 2036 Level, Before trying to make a new leg high, The reason is Movemtum driven response to gold and bond market due to the war at yemen. Fed officials, economic data in focus for rate-cut cues The dollar index surged 0.5% on Tuesday, with demand for the greenback increasing ahead of an address by Fed Governor Christopher Waller later on Tuesday. His comments on the potential for a spring rate cut will be closely watched, after consumer and producer inflation data for December offered somewhat mixed cues to markets. U.S. industrial production and retail sales data readings are due on Wednesday and are set to provide more signals on the economy. Any signs of economic resilience gives the Fed more headroom to keep rates higher for longer. Traders were seen slightly trimming bets on a March 2024 rate cut, according to the CME Fedwatch tool . Expectations of early interest rate cuts were a key driver of a gold rally in recent weeks, given that the yellow metal benefits from a low-rate environment.
FOREXCOM:XAUUSDShort
by fxtriangle
1
XAUUSD: price growth continues?Dear friends! Looking back at the previous weekend, gold has demonstrated its strength with a remarkable breakout, completely breaking free from the sideways trend and ending the downward trend. It is an impressive move from the bull side, as they not only successfully defended the key support level at $2015 but also pushed the price of gold higher from this point onwards. The tension in the Middle East is having a noticeable impact, reducing pressure on the US dollar and bond yields, thereby supporting the price of gold. In the short term, the demand for safe-haven assets may push the price of gold even higher. Given the current landscape, can we expect a new rally in the price of gold? What about you, do you anticipate a surge in the price of gold? Share your thoughts on the next direction for gold in this exciting market!
OANDA:XAUUSDLong
by RKarina
Update gold price at the beginning of the new weekDear friend, In general, precious metals truly impress us. Gold traded sideways near $2030 before rising to $2061 on Friday, then retraced to $2049 and stabilized at this level. Now, what excites me is that gold is currently trading calmly around $2050 - $2051 as we enter the new week. The interesting thing is that gold's recovery is driven by weakness in the US Producer Price Index (PPI) data and political tensions in the Middle East. Like a skilled dancer, gold breaks free from the downward "dance", returns to test the Breakout zone, and dances with the two EMA lines. For these reasons, gold makes me quite optimistic that it will not stop here. It seems to be heading towards a new high - $2088. What about you?
OANDA:XAUUSDLong
by RKarina
2
Gold price todayDear friends, let's explore the Gold market for the new week together! In general, the start of the new week sees Gold relatively quiet around the $2043 mark. Looking at the analysis chart: The overall trend is still bearish, with two negative factors driving it. Factor 1: The downtrend continues from the levels of $2149 and $2089. Factor 2: Gold has broken out of the price increase channel around $2058, leading to a significant decline. Although there has been some adjustment, it is still not strong enough. Therefore, it would not be surprising if Gold continues to decline with an expected drop to $2015. The important thing is to closely monitor and grasp these updates to have a clearer view of the upcoming significant ups and downs in Gold.
OANDA:XAUUSD
by RKarina
Gold price prospects to rise again sooner?Hello dear friends, as expected, yesterday we saw gold drop to its final profit-taking target at $2013. However, gold quickly recovered and at the time of writing, it is trading around $2033, stable within the previous downtrend channel. Therefore, the upward momentum of gold may be limited as there is a possibility that the FED may not begin cutting interest rates earlier than anticipated, which could lead to selling pressure on XAUUSD. Looking at the prospects and trends of gold: overall, it is still in a downward trend, but selling pressure is gradually decreasing and there is a possibility of a shift towards an increase in price due to the appearance of a convergence trendline on the RSI. The current support level is $2013, which may play a crucial role in the price increase of XAUUSD, with RKarina's profit-taking target set at $2035 and $2065.
OANDA:XAUUSDLong
by RKarina