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Xauusd(w)

Gold due for correctionGold price is currently due for correction , Friday closing was bearish but still need more confirmation to see possible correction (Need one more day to close under PDL (2658 ) , On price action it is clear that price is currently forming head and shoulder pattern and to validated this pattern price need to breakdown at least 2650 level , In Higher side price also facing resistance on trend line ; CPR is also in descending formation compared to last day; In lower side we have to watch weekly Support (2616.18); As everyone knows that the current bullish rally is supported by the middle east war so we have to keep eye on the development of any war related news, if we consider the war factor and higher TF then overall the price is still maintaining the bullish structure so correction side is limited but we can consider this correction as per current PA .
FX:XAUUSDShort
by TheGoldenCircle
1
Gold due for correctionGold price is currently due for correction , Friday closing was bearish but still need more confirmation to see possible correction (Need one more day to close under PDL (2658 ) , On price action it is clear that price is currently forming head and shoulder pattern and to validated this pattern price need to breakdown at least 2650 level , In Higher side price also facing resistance on trend line ; CPR is also in descending formation compared to last day; In lower side if we have watch weekly Support (2616.18); As everyone knows that the current bullish rally is supported by the middle east war so we have to keep eye on the development of any war related news, if we consider the war factor and higher TF then overall the price is still maintaining the bullish structure so correction side is limited but we can consider this correction as per current PA .
FX:XAUUSDShort
by TheGoldenCircle
1
XAU/USD: Break Resistance at $2,680 or Correct to $2,645?The analysis of the XAU/USD chart shows that gold is currently priced at $2,658.550, with strong support at $2,645.331. From the chart, it is clear that the upward trend is still being maintained, thanks to the support of the EMA 34 and EMA 89 levels at $2,658 and $2,633.502, respectively. The key resistance at $2,680.809 is the barrier that the price needs to break through if it is to continue reaching higher levels, with the next target at $2,697.070. However, if the price fails to maintain its upward momentum and drops below the $2,645.331 support level, a deeper correction may occur. In the current market context, important economic news from the U.S. and statements from Fed officials will be key factors that could significantly impact gold price movements in the coming days.
OANDA:XAUUSDLong
by Romio_pro
3
XAU/USD: Ready for a Breakout or Awaiting a Pullback?The XAU/USD chart is revealing a dramatic story. Gold prices are currently fluctuating around $2,669.635 after touching a strong resistance at $2,685.180. The bulls are defending the critical support level at $2,649.955, with two solid defensive shields — the EMA 34 and EMA 89 positioned at $2,639.497 and $2,594.206 — keeping the upward momentum intact for gold. However, the real challenge lies at the $2,685.180 resistance level. Should the price break through, the door will open to new highs, with the next target set at $2,699.470 — a crucial resistance zone. As waves of economic news from the U.S. and key statements from the Fed roll in, this is the moment for savvy and alert traders to take action.
OANDA:XAUUSDLong
by Romio_pro
1
Gold approaches key upside hurdle ahead of US PCE InflationAfter hitting an all-time high, gold prices are losing momentum as buyers await the US September Core PCE Price Index, the Fed's favorite measure of inflation. Bulls may slow down, but are still in the game On Thursday, FOMC Chair Jerome Powell's reluctance to discuss monetary policy joined the market’s dovish bets on the US central bank to propel the Gold price, especially amid the rush for a haven amid uncertain markets. Technically, the bullish MACD signals add strength to the upside bias for the precious metal. However, the overbought RSI (14) and nearness to an upward-sloping resistance line from December 2023, close to $2,695 at the latest, challenge the bullion’s further advances. Technical levels to watch With the overbought RSI indicating a $2,695 hurdle for gold buyers, the $2,700 level serves as an additional barrier to monitor for better trading opportunities. Beyond that, a potential surge toward the 100% Fibonacci Extension (FE) of February-June moves, near $2,757, can’t be ruled out. Gold sellers should watch for a clear break below the four-month resistance line at $2,620. If this occurs, the 61.8% and 50% Fibonacci Extension levels around $2,578 and $2,522 could draw in bears. Key targets below $2,522 include $2,467 and $2,399. That said, a break below the convergence of the 200-SMA and a year-long support line at $2,288 could signal a trend change for traders. What next? A positive surprise from the US Core PCE Price Index could spark the anticipated pullback in gold prices. However, the dovish Fed stance and strong technical support may prevent XAUUSD bears from gaining control.
OANDA:XAUUSD
by MTradingGlobal
XAU/USD: Awaiting a Breakthrough at $2,720 or Correction?The XAU/USD chart on September 26 tells an exciting story of gold's bullish momentum. After hitting $2,661, gold is steadily advancing, shielded by two strong supports—EMA 34 at $2,540 and EMA 89 at $2,448. These support levels act as fortresses, holding buyers firm and allowing gold to continue climbing. However, all eyes are now on the key psychological resistance near $2,720, a critical barrier that, if broken, could pave the way for new highs. Upcoming FOMC statements could significantly impact XAU/USD.
OANDA:XAUUSDLong
by Romio_pro
XAUUSD - Financial Insights 26/09/2024Summary: Things are getting worse, slowly but worse, XAUUSD will reach 3K at the end of this year 1. Title: Xi’s Economic Adrenaline Shot Is Only Buying China a Little Time Source: Bloomberg Problem: China's economy faces a deflationary slump due to a property market crash, weak consumer demand, and trade tensions. Solution: The central bank launched aggressive easing measures, including interest rate cuts, more liquidity, and housing incentives. Result: Markets surged, but economists warn these actions provide only temporary relief without deeper reforms. Prediction: Further fiscal policies and structural reforms are needed to avoid long-term stagnation and drive sustainable growth. 2. Title: China Cuts One-Year Policy Rate by Most Ever in Stimulus Drive Source: Bloomberg Problem: The Chinese economy faces potential deflationary pressures, prompting the need for significant monetary stimulus. Solution: The People’s Bank of China (PBOC) cut the medium-term lending facility rate by 30 basis points to 2%, initiating a broader stimulus package to boost economic confidence. Result: The yuan strengthened, and Chinese stocks gained, with expectations for further monetary easing, including future rate cuts on reverse repurchase notes. Prediction: Analysts anticipate additional rate reductions and liquidity measures to support the economy, aligning funding costs more closely with market rates in the coming months. 3. Title: OECD Upgrades UK Growth by Most in G-7, Warns on Inflation Source: Bloomberg Problem: UK faces high inflation, with the BOE struggling to meet its 2% target. Solution: The government plans to increase investment, focusing on infrastructure and the green transition. Result: UK growth forecast upgraded to 1.1% in 2024 and 1.2% in 2025, but inflation remains high. Prediction: BOE may delay interest rate cuts due to persistent inflation and wage pressures. 4. Title: Global Economy Moves Beyond Inflation Crisis to Stable Growth Source: Bloomberg Problem: The global economy faces risks from geopolitical tensions, soft labor markets, and potential financial market upheaval as inflation eases. Solution: Central banks can cautiously cut interest rates while monitoring data closely, avoiding rapid reductions. Result: OECD projects global growth to stabilize at 3.2% for 2024, with moderating inflation expected in G20 nations by the end of 2025. Prediction: While growth forecasts for the US and euro area remain steady, the OECD warns of significant risks that could impact the global economic outlook. 5. Title: Danish Central Bank Slashes Inflation Forecasts as Wages Cool Source: Bloomberg Problem: The Danish labor market pressure has eased, but there are concerns about potential inflationary risks from the government's proposed 2025 budget. Solution: The central bank has reduced its inflation forecasts for 2024 and 2025, anticipating slower wage growth due to a less tight labor market. Result: Inflation is now forecasted at 1.3% for 2024 (down from 2.2%) and 2.1% for 2025 (down from 2.6%), indicating a more stable economic environment. Prediction: The central bank warns against loosening fiscal policy too soon, as it could destabilize the current balance in the labor market. 6. Title: BOE’s Greene Calls for ‘Cautious’ Approach to Rate Cuts Source: Bloomberg Problem: Strong wage growth and resilient economic activity pose risks, prompting concerns about inflation remaining sticky in the UK. Solution: BOE policymaker Megan Greene advocates for a cautious and gradual approach to interest rate cuts, ensuring that inflationary pressures have subsided before making significant changes. Result: The market reflects skepticism about immediate rate cuts, with current pricing suggesting a cut in November but a 60% chance of a follow-up in December. Prediction: Greene emphasizes the need for ongoing observation of wage trends and consumer spending to gauge future monetary policy adjustments. 7. Title: Fed's Bumper Rate Cut Revives 'Reflation Specter' in US Bond Market Source: Reuters Problem: The Federal Reserve's aggressive rate cuts raise concerns about re-igniting inflation in the U.S. economy. Solution: The Fed's 50 basis point rate cut aims to recalibrate its approach, focusing on maintaining a strong labor market while managing inflation. Result: U.S. bond yields have risen as investors reassess inflation expectations, reflecting uncertainty over future economic conditions. Prediction: A gradual return to higher inflation could impact bond markets, and the central bank may need to adjust its strategy if inflation does not remain subdued. 8. Title: Investing.com Poll: Where do you see gold prices by the end of 2024? Source: Investing.com Problem: Gold prices have recently surged, driven by the Federal Reserve's rate cut and investor sentiment. Solution: Analysts expect ongoing rate reductions, which make gold more attractive as a non-yielding asset. Result: Gold prices have rallied over 5% this month, defying historical trends for September. Prediction: While traders anticipate potential cooling in gold returns, any downside is likely to be limited, suggesting a strong long-term outlook for the metal. 9. Title: With Fed Easing Underway, What's Next for Markets? UBS Weighs In Source: Investing.com Problem: The recent rate cut by the Fed raises questions about future economic conditions and market stability. Solution: UBS believes the rate cut signals a willingness to support the economy, but emphasizes the need for clear labor market data to ensure a soft landing. Result: Markets have reacted positively to the rate cut, but uncertainty remains regarding the ultimate impact on growth and inflation. Prediction: A "Roaring '20s" scenario is considered an upside risk, but market volatility could re-emerge as investors seek clarity on the economy's trajectory. 10. Will Fed policy trigger a US recession? Claudia Sahm: Does not believe the US is currently in a recession, despite her namesake "Sahm rule" being triggered. Is concerned about the direction of economic indicators, with payroll gains slowing and unemployment rising. Puts higher odds of recession now than earlier in the cycle, but doesn't provide a specific percentage. Believes the Fed is at risk of making an "unforced policy error" if they don't cut rates soon enough, potentially leading to an unnecessary recession. Bill Dudley: Puts 50-60% odds of a recession in the next 12 months. Believes the Fed is "a bit behind the curve" in reducing interest rates given increased economic risks. Thinks a soft landing is possible but historically difficult for the Fed to achieve. Expects any potential recession to be mild due to strong household and business balance sheets. Rob Kaplan: Seems less concerned about recession risk than Dudley. Believes the job market is softening as intended, but not "falling out of bed." Thinks the Fed may be tactically behind by "a meeting or two" but not strategically behind. Expects the Fed to likely cut rates in September, November, and December, despite potentially hawkish rhetoric. 11. Title: Powell Emerges Stronger After Leading Fed to Big Rate Cut Source: Bloomberg Problem: Federal Reserve officials were divided on how aggressively to cut interest rates, amidst weak jobs data and inflation pressures easing. Solution: Chair Jerome Powell advocated for a significant 50 basis point rate cut to safeguard against potential risks to the labor market. Result: The majority of Fed officials supported the larger cut, reflecting Powell's strengthened leadership and consensus around his approach to manage economic risks. Prediction: If labor market data continues to disappoint, another substantial rate cut could occur in the future, as Powell aims to ensure a soft landing for the economy. 12. Title: Gold price consolidates below all-time peak, awaits Fed Chair Powell’s speech Source: Investing.com Problem: Gold prices are confined below their all-time peak due to rising US yields and a strong USD, creating uncertainty in the market. Solution: Traders are awaiting comments from Fed Chair Jerome Powell and other influential FOMC members, which may influence expectations for another 50 bps rate cut in November. Result: Current gold prices are stable around $2,650, supported by dovish Fed expectations and geopolitical tensions, despite technical indicators suggesting overbought conditions. Prediction: Upcoming economic data and Powell’s speech will be critical in determining gold's direction, with potential fluctuations as traders evaluate the likelihood of further rate cuts and their impacts on market sentiment.
OANDA:XAUUSD
by TheChartist_Code2trade
XAU/USD: Historic Breakout or Awaiting a Pullback?Gold prices continue to shatter records, reaching an all-time high of $2,664, fueled by declining consumer confidence in the US, weakening Treasury yields, and a softer US dollar. Two strong support levels at $2,629.123 and $2,613.812, protected by the EMA 34 and EMA 89, act as shields for gold’s bullish momentum. However, the biggest hurdle remains the resistance at $2,685.993 – the key level that will determine whether gold can continue its upward climb to new heights. If the price breaks through this resistance, the potential for further gains looks promising. Meanwhile, economic news from the US and statements from the FED could change the game at any moment. Traders, be ready – opportunities like this don’t come twice. Get set for a powerful breakout!
OANDA:XAUUSDLong
by Romio_pro
The Growing Attraction in a Volatile WorldThe gold price chart shows a clear upward trend since the beginning of September, with the EMA 34 and EMA 89 both signaling a strong upward momentum. The weakening of the USD, along with global economic stimulus measures and political tensions, have pushed gold prices higher. Especially in the context of major central banks around the world - from the US to Europe, and the People's Bank of China - all spreading monetary support packages like spring rain, further fueling the desire to invest in gold. Gold remains a safe haven and attractive asset in the current unstable context. Investors need to closely monitor market developments to seize opportunities and adjust strategies promptly.
OANDA:XAUUSD
by Alexander_FXTrading
Gold is purely on bullish modewith the current news event on rise with another rate cut upto 100 basis points, we can clearly see that gold is no option for investors to hedge their risks. A good buy zone can be seen from 2625 levels to accumulate and hold for rise in coming new trading sessions. Buy can be done only if the retracement below 200 ema is clearly seen on charts . We should strongly reject buy side if the gold falls down sharply with large size candles with each candle size beyond 3 $ each. which will signal us temporary cooling down and we should then wait for gold to test 2600 $ levels.
FX_IDC:XAUUSDLong
by XAUUSDANALYST
XAUUSD 9/25/2024 gold price continues to increase? Looking at H1 we are witnessing an extended wave 5 with the wave 5 target I measured at the current price zone of 2665 this zone has been reached and the second price zone at the price zone of 2696 - 2699. After the end of wave 5 we will have another ABC adjustment so these target price zones will be the price zones we choose as SELL down targets - This adjustment will be very large and long to facilitate intraday trading I will choose target zones with a lot of demand so we can catch the recovery waves in this adjustment. - We have 2 target price zones with high demand concentration, which are the 2565 - 2562 zone and the 2594 - 2591 zone. These are the 2 target zones we choose to BUY up. Trading plan SELL ZONE: 2696 - 2699 SL: 2706 TP1: 2682 TP2: 2665 TP3: 2655 BUY ZONE: 2565 - 2562 SL: 2555 TP1: 2641 Tp2: 2655 TP3: 2670 BUY ZONE: 2594 - 2591 SL: 2584 TP1: 2614 TP2: 2625 TP3: 2641
OANDA:XAUUSDShort
by DEEKOP
Catching the Uptrend Amid Expectations of Interest Rate CutsIn the context of the global economy witnessing major adjustments from central banks, gold prices continued to experience a spectacular week of price increases, reaching a new record high. The main reasons were the weak dollar and the continuous decline in US Treasury bond yields, combined with the tense geopolitical situation between Israel and Hezbollah. At the end of the trading session on September 23 at Kitco, gold recorded a price of 2,625.00 USD/ounce, slightly up 3.60 USD. The market is waiting for new signals from the US Federal Reserve (Fed) this week, especially the upcoming speech of Chairman Jerome Powell, along with the announcement of PCE price index data, an inflation measure that the Fed is particularly interested in. Technical analysis from the current chart shows that gold is trading right at a key resistance level, with a strong upside momentum supported by the 34 EMA and 89 EMA, which are acting as key support levels. Given the current economic and geopolitical factors, gold could continue its upward momentum if the upcoming monetary policy meetings of the Fed and other central banks yield further monetary easing decisions. Further rate cuts could further strengthen the buying interest in gold as a safe-haven asset. If gold breaks the current resistance level, the next target could be around $2,700/oz. In case the price falls below the supporting EMAs, one needs to keep a close eye on the support level at $2,560/oz, which could provide an ideal entry point for long positions.
OANDA:XAUUSD
by Alexander_FXTrading
XAU/USD: Breakout or Upcoming Correction?XAU/USD is climbing strongly, supported by two solid "fortresses" of EMA 34 and EMA 89, as buyers proceed cautiously after reaching a new peak amid mild overbought conditions. The biggest challenge now is the resistance at $2632 – if breached, the bullish momentum could accelerate further, unlocking the potential to reach new highs. The “winds” from upcoming economic data from the FED and key news from the US and Europe will be the “key” to determining the next direction. Traders should be ready to seize opportunities: buy on the breakout or consider selling if the price pulls back for a correction!
OANDA:XAUUSDLong
by Romio_pro
Historic Turning Point: Gold Takes New HighGold has continued to rally, hitting new highs on the back of the Fed’s rate cut, which has weakened the US dollar and lowered bond yields. Gold is currently trading at $2,625.00, up slightly by 0.14%. Markets are expecting another rate cut by the Fed later this year, which continues to support gold prices. Technically, gold is currently above both the 34-EMA and 89-EMA, indicating a clear bullish bias. Traders should keep an eye on the next resistance level at $2,630. A successful break above this level could pave the way for further gains. However, if a correction occurs, the key support level to watch is $2,590. A pullback could be an opportunity for investors to buy, especially if the fundamentals remain bullish.
OANDA:XAUUSD
by Alexander_FXTrading
XAUUSD 9/24/2024 price increase continues? Looking at H1 we see wave 5 is completing - The target position of the end of wave 5 we have 2 target zones, the first zone is 2645 - 2648 and the second target zone is 2597 - 2700. For now we will choose the first target zone which is 2645 - 2648 as the target zone to SELL down - Below after the end of wave 5 we will have a correction according to 3 ABC waves. - We have the target zone of this correction at the price zone 2594 - 2591 and the second target zone at the price zone 2565 - 2562 we will choose these 2 target zones to BUY Trading plan SELL ZONE: 2645 - 2648 SL: 2655 TP1: 2625 TP2: 2606 TP3: 2593 BUY ZONE: 2594 - 2591 SL: 2584 TP1: 2606 TP2: 2616 TP3: 2645 BUY ZONE: 2565 - 2562 SL: 2555 TP1: 2570 TP2: 2589 TP3: 2603
OANDA:XAUUSDLong
by DEEKOP
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
XAU/USD: Breakout or Pullback at Resistance?XAU/USD is "climbing" strongly, currently holding steady at $2622.235, shielded by two "barriers" of support from EMA 34 ($2585.142) and EMA 89 ($2558.524). If a pullback occurs, the $2579.829 zone will be a key "anchor." But don't overlook the resistance at $2655.663 – if this level is breached, it opens up new growth potential. Of course, "winds" from the FED and economic news could quickly shift the landscape. Be ready: Buy on a breakout or sell if the price retraces back to support!
OANDA:XAUUSDLong
by Romio_pro
2
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