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XAUUSD May 28, 2024 How will gold inflation cool down?We can observe the expected target areas above to find reversal signals to enter a sell order. With recent signs of cooling inflation and the fact that the US economy in particular has been directly impacted by high interest rates, the employment rate has decreased. These things will make the Fed's statements no longer resolute in maintaining high interest rates. In addition, the European central bank ECB also announced data to support the interest rate cut in June. Signals show that gold will continue to be supported in the near future to continue its upward price trend. Looking at H1, we see that wave 4 is about to complete. With the price data from the morning of the previous day, we measured the price target at the 2351-2355 range, but now that we have new price data, we have more information. The 2 new target areas are area 2362.5 and area 2371 - Plus the momentum in the H4 frame is still in the overbought zone, this shows that the upward price momentum is showing signs of weakening, besides the H1 momentum is increasing and is also about to approach the oversold zone. reinforces the goals of wave 4 - We can observe the expected target areas above to find reversal signals to enter a sell order. Note: Sufficient TP, SL to be safe and win the market‼ ️Change data plan will be updated later. Deekop's analysis is only a personal opinion with a desire to share its views with the community. I'm not always right. But my analysis always reflects my meticulous evaluation of what is best for an investment.
OANDA:XAUUSDShort
by DEEKOP
XAUUSD 1H BUY PROJECTION 28.05.24KEY POINTS: U.S. PCE data due on Friday Traders price in about 62% chance of rate-cut by November Vietnam's central bank to stop domestic gold auctions Gold prices held steady on Tuesday as the dollar eased, while investors looked forward to key U.S. inflation data that could offer clues on how soon the Federal Reserve can cut interest rates. Spot gold GOLD was flat at $2,350.85 per ounce, as of 0350 GMT, after rising about 1% in the previous session. U.S. gold futures GOLD rose 0.8% to $2,352.00.
OANDA:XAUUSDLong
by kripsonfx97
XAUUSD May 27, 2024 gold's reaction after a sharp declineWith investors' expectations of interest rate cuts in the market increasingly decreasing, especially when statements from Fed members last week all hinted that there will be no plans to cut interest rates in the near future. This interest rate causes the expectation to buy gold to decrease, leading to a weak demand for accessing the market. Looking at H1 last weekend, we witnessed a strong decline according to the Elliot wave principle. This strong decline may be a characteristic of wave 3 of wave c in the abc correction wave as shown on the chart. - Currently the price is in a recovery phase and this could be wave 4. We measure the target of wave 4 ending at the price range 2351-2355 - Then the price continues to decrease to complete wave 5 as well as wave c, then we have the target price area of this wave 5 at 2322.7 or 2311.5 Trading plan - We can sell at area 2351-2355 when candlestick reversal signals appear in this area. - We can buy in 2 areas 2322.7 and 2311.5 when candlestick reversal signals appear in this area Note: Sufficient TP, SL to be safe and win the market‼ ️Change data plan will be updated later. Deekop's analysis is only a personal opinion with a desire to share its views with the community. I'm not always right. But my analysis always reflects my meticulous evaluation of what is best for an investment.
OANDA:XAUUSDShort
by DEEKOP
XAUUSD Trading plan for the week of May 4, 2024Looking at chart D, we see that with the current price level, the candle has not yet closed above 2430, so we will have 2 plans for next week. Last week we saw Information that the Fed still has no plans to cut interest rates and even extends the expected time to reduce interest rates is continuously given by Fed officials. This creates concern that the USD will not weaken, so in the weekend sessions, gold price had a strong adjustment from 2450 to 2332 in the last 2 sessions of the week. This week we pay attention to two important news: Prelim GDP q/q, Unemployment Claims and Core PCE Price Index m/m With the forecast decrease in GDP and increase in Unemployment Claims, it is showing the consequences of the tightening economy. Besides, the news of Core PCE Price Index m/m decreasing is a very good sign to help the Fed have monetary plans. currency to run a stable economic development. But we still have to wait for the actual data to be released and it will affect the trend this week. Looking at chart D, we see that with the current price level, the candle has not yet closed above 2430, so we will have 2 plans for next week. First plan - According to the Elliot principle, wave 4 has completed and now the gold price is in wave 5 and this wave 5 is confirmed when the candle closes above 2430. - Wave 5 will include 5 small waves i ii iii iv v - Currently, the price correction last weekend has completed wave i and is preparing to complete wave ii to start wave iii - Looking at the Weekly frame momentum indicator, this indicator has reversed in the oversold area combined with the daily frame momentum as shown on the chart, we see that the momentum has approached the oversold area, signaling that the downward price momentum has weakened. So our trading plan for next week is to go to the H1 area to find candlestick reversal signals to Buy at this price range of 2334. Second backup plan - If the price continues to decline and breaks out through the 2278 area, we will use this backup plan - At that time, the price continues to complete wave c in the corrective wave abc - We have measured the target of ending wave C at area 2211 - Then our trading plan waits for the price to reach this target area and then we enter H1 to look for reversal signals at the 2211 price range to buy up. Note: Sufficient TP, SL to be safe and win the market‼ ️Change data plan will be updated later. Deekop's analysis is only a personal opinion with a desire to share its views with the community. I'm not always right. But my analysis always reflects my meticulous evaluation of what is best for an investment.
OANDA:XAUUSDLong
by DEEKOP
Gold braces for biggest weekly loss of 2024, focus on $2,270Gold licks its wounds at the lowest level in a fortnight after falling in the last three consecutive days. With this, the precious metal becomes vulnerable to post the biggest weekly fall since late September 2023. The downside bias takes clues from a clear break of a nine-week-old support line, now immediate resistance near $2,340, as well as the bearish MACD signals and steady RSI. With this, the spot Gold price (XAUUSD) is likely to drop toward the 50-SMA support of $2,309. However, an ascending trend line from early April, close to $2,294 at the latest, will challenge the bullion bears afterward. It’s worth noting that a 3.5-month-old rising support line near $2,270 acts as the final defense of the buyers, a break of which will not hesitate to welcome the bears targeting the $2,200 threshold. On the contrary, the Gold buyers need validation from the $2,340 support-turned-resistance to retake control. Even so, the 10-SMA hurdle of $2,375 and the $2,400 psychological magent will challenge the XAUUSD bulls afterward. In a case where the precious metal remains firmer past $2,400, the $2,430 and the $2,450 should allow the bulls to take a breather before pushing them toward the $2,500 round figure. Overall, the Gold price is likely to witness a short-term downside but remains in the bullish trend unless declining below $2,270.
OANDA:XAUUSD
by MTradingGlobal
23rd May Analysis of Gold Price Overview On May 22nd, the price of gold experienced a notable decline, falling from $2415 to $2375. This sharp movement could be attributed to various market factors, including economic data releases, changes in investor sentiment, or geopolitical events. As we look at the price action on May 23rd, gold is anticipated to retest the $2397-$2400 zone. However, there is a prediction that it may fail to establish a head and shoulders pattern, indicating potential future movements. Technical Analysis Price Decline on May 22nd: Support and Resistance Levels: The sharp decline from $2415 to $2375 suggests that there was a strong resistance at the $2415 level, which sellers capitalized on, pushing the price down to $2375, a significant support level. Volume and Momentum: It's crucial to analyze the trading volume during this decline. High volume on the way down indicates strong selling pressure, which might suggest a continuation of the downtrend if the buyers do not step in. Retest of $2397-$2400 Zone: Importance of the Zone: The $2397-$2400 zone is a critical area. If gold manages to break above this zone, it could signal a potential reversal or continuation of the uptrend. Conversely, if it fails to break through, it might indicate that the downtrend will persist. Indicators to Watch: Pay attention to key technical indicators such as the Relative Strength Index (RSI), Moving Averages, and the Moving Average Convergence Divergence (MACD). These will provide insights into the strength and momentum of the price movement. Head and Shoulders Pattern: Pattern Characteristics: The head and shoulders pattern is a classic reversal pattern that signals a potential change in trend direction. A successful pattern consists of a peak (head) between two lower peaks (shoulders) and a neckline that connects the lows. Prediction of Failure: If the price fails to break above the $2397-$2400 zone and does not complete the head and shoulders pattern, it could indicate that the bears are still in control. This failure might lead to further declines, potentially testing lower support levels such as $2350 or $2300. Conclusion The price action on May 23rd is crucial for understanding the future direction of gold. The retest of the $2397-$2400 zone will be a significant indicator of whether gold can regain its upward momentum or continue its recent downtrend. Traders should closely monitor the price action, volume, and technical indicators to make informed decisions. A failure to break through the critical zone and establish a head and shoulders pattern could signal further bearishness in the gold market.
OANDA:XAUUSDShort
by TradingGuruTop
XAUUSD May 22, 2024 Is the current correction over?Hello everyone, DEEKOP is ready to bring the most accurate signals and assessments to everyone. Financial freedom is true freedom. Yesterday there were many statements from members of the Fed 1. Fed's Jefferson says it's too early to know whether deflation will last. 2. Fed's Mester says economic conditions do not support three rate cuts. 3. Fed's Bostic expects only one rate cut this year. The main content is to maintain the increase in interest rates. This information continues to support the current adjustment period Looking at the H1 chart we see - The current correction process is likely to be an abcde triangle correction wave model. - This process is likely entering the final stage of the correction. Looking at the price model, we wait for wave e to form to end the correction. - The correction process is confirmed to be completed when the price breaks through the peak of wave d (2433.8), then the price continues to increase to the target of 2500 Trading plan If price stays above 2406 we have a good buying zone at 2408 If the price breaks down to 2406 we have a good buying zone at 2401 Note: Sufficient TP, SL to be safe and win the market‼ ️Change data plan will be updated later. Deekop's analysis is only a personal opinion with a desire to share its views with the community. I'm not always right. But my analysis always reflects my meticulous evaluation of what is best for an investment.
OANDA:XAUUSDLong
by DEEKOP
How much will the price of XAUUSD drop on May 21, 2024?Hello everyone, DEEKOP is ready to bring the most accurate signals and assessments to everyone. Financial freedom is true freedom. The war between Russia and Ukraine has not yet found a voice at the negotiating table, plus President Putin's recent visit to China further shows that Russia will not make concessions to Nato. And recently both Russia and Ukraine rejected the French president's call for a ceasefire during the Olympics in Paris on May 17. These moves further demonstrate tensions in the geopolitical situation The US economy, after a long period of maintaining high interest rates to control inflation, has led to a situation where the economy is showing signs of weakening, although it is not yet in a recession, but with the leading economic index falling. of the US fell 0.6% MoM in April following an uncontrolled 0.3% decline in March. Weaker consumer outlook on business conditions, weaker new orders , negative interest rate differentials and falling new construction permits fueled April's decline. It suggests weaker US economic conditions going forward. With such potential risks, Gold will continue to set new ATHs until the above conditions are resolved. Use the Elliot wave principle to evaluate the situation on the H1 chart - Yesterday gold created a new ATH at 2450, this is the target area of wave 5 that we launched. - Then the price dropped to 2408 and recovered slightly to 2436, so we have the current gold price in the ABC correction wave. - Looking at H1, we see that wave a and wave b are likely to have completed and currently the gold price is completing wave c of the correction. - The expected price range of wave c has 2 target areas: area 2397 and area 2381, this is the target for the end of wave c. Plan to trade when the price approaches the 2397 or 2381 zone Note: Sufficient TP, SL to be safe and win the market‼ ️Change data plan will be updated later. Deekop's analysis is only a personal opinion with a desire to share its views with the community. I'm not always right. But my analysis always reflects my meticulous evaluation of what is best for an investment.
OANDA:XAUUSDShort
by DEEKOP
XAUUSD week 3 May 2024 Is the uptrend over?Hello everyone, DEEKOP is ready to bring the most accurate signals and assessments to everyone. Financial freedom is true freedom. Last week, we saw that the US economy also sent remarkable messages. For the first time, the number of applications for unemployment benefits decreased despite the softening of the labor market, this shows that the American people are gradually adapting to the current controlled economy, plus the CPI released last week has increased beyond expectations, this will create motivation for the Fed to continue maintaining high interest rates in the near future Although the US economic situation will still keep high interest rates to restrain inflation, this will create strength for the USD, but the current geopolitical fluctuations in the world will still create conditions for gold prices to increase and volatility to occur. The gold became a safe place for him to hide Looking at the 1D chart, we rely on the Elliot wave principle to analyze price movements - Last week we saw a strong price increase and currently the price is clinging to the peak of 2433. - At this point, it is still early to conclude whether correction wave 4 has completed or not. - We have the price level that confirms the completion of wave 4 and the start of wave 5 at 2433. - If next week the price breaks out through 2433 then we have confirmation that wave 4 has completed and the price is in rising wave 5 then we will measure 2 expected price targets for the end of wave 5 which is the 2500 area. and area 2550 - If the price cannot break the 2433 zone and turns down, then the price is still in correction wave 4 and at a smaller wave level, the price will complete wave b and will continue to complete wave c as shown on the chart. - Then wave b is confirmed when the price breaks out through the 2280 area, then we will have the target to end wave c measured at the price range 2455 and 2211 Above is Deekop's plan for next week and the daily plan will be updated by Deekop every day Scalping strategies are applied when the upper resistance - support area provides an entry signal. Note: Sufficient TP, SL to be safe and win the market‼ ️Change data plan will be updated later. Deekop's analysis is only a personal opinion with a desire to share its views with the community. I'm not always right. But my analysis always reflects my meticulous evaluation of what is best for an investment.
OANDA:XAUUSD
by DEEKOP
EURUSD SHORTFOREXCOM:EURUSD Hello traders , here is the full multi time frame analysis for this pair, let me know in the comment section below if you have any questions, the entry will be taken only if all rules of the strategies will be satisfied. wait for more Smart Money to develop before taking any position . I suggest you keep this pair on your watchlist and see if the rules of your strategy are satisfied... Keep trading Hustle hard Markets can be Unpredictable, research before trading. Disclaimer: This trade idea is based on Smart money concept and is for informational purposes only. Trading involves risks; seek professional advice before making any financial decisions. Informational only!!!!
Short
by Phinics
Gold stays bullish despite recent pullback, focus on $2,400 Gold price lacks clear directions after retreating from the highest level in a month while snapping a two-day winning streak. In doing so, the XAUUSD eased from a one-month-old horizontal resistance zone surrounding the $2,400 threshold. The pullback also gained strength from the US Dollar’s rebound. However, the bullion still carries an early-week breakout of a descending resistance line from April 12, now immediate support around $2,365. Additionally, keeping the buyers hopeful are the bullish MACD signals and the upbeat RSI (14) line. With this, the quote is likely to prevail on the bull’s radar and can gain more upside strength on crossing the $2,400 hurdle. In that case, the $2,418 and $2,431 will lure the bulls before directing them towards refreshing the all-time high by targeting the $2,500 threshold. It’s worth noting that the Gold price weakness past the resistance-turned-support line of $2,365 won’t open the doors for the sellers as the 21-SMA and an upward-sloping trend line from mid-March, respectively near $2,336 and $2,318, will challenge the commodity’s south-run. Should the precious metal remain bearish past $2,318, the $2,300 round figure and the monthly low of nearly $2,277 will be the final defense of the buyers. Following that, the XAUUSD’s fall toward the late March swing high of $2,222 can’t be ruled out.
OANDA:XAUUSD
by MTradingGlobal
Gold price today: Continuing to search for new peaks!Hello everyone, let's learn about gold prices today. At the end of the trading session on May 15, gold increased by 27 USD, reaching 2,385 USD. During the trading session, at one point the gold price reached $2,390, the highest level in nearly a month. The USD index yesterday fell 0.6%, to its lowest level in more than a month. The depreciation of the USD has made gold more attractive to buyers, creating conditions for gold prices to recover strongly. Comments from the chart: Gold continues to consolidate its record upward momentum on the two EMAs 34 and 89, showing a good sign for buyers in the long term. In addition, gold is forming a cup-in-hand model, it is expected that after the adjustment, the long-term target of over 2,500 USD will continue to be targeted by the Bulls!
OANDA:XAUUSDLong
by RKarina
4
Gold Price Today: Reversing to increase in price!Currently, gold price has increased by 21.9 USD, reaching 2,357.6 USD/ounce, recovering to the high level from last week after positive news announced last evening. The main reason is the weakening of the USD and Treasury bond yields after data on US producer prices in April were published. The USD fell 0.2%, making gold more attractive to investors using other currencies. Yields on 10-year Treasury bonds also fell, reducing the opportunity cost of holding gold, thereby boosting gold prices. In addition, the fact that Fed Chairman Jerome Powell did not signal a rise in interest rates is also a positive factor, which can help gold prices continue to grow.
OANDA:XAUUSDLong
by RKarina
XAUUSD - Downside correction outlook continues!The gold market today showed a modest recovery, with the metal trading at approximately $2343, reflecting a 0.34% gain since yesterday's notable decline. However, there are emerging signs that gold may be forming an inverted cup and handle pattern. If this pattern fully materializes, it suggests the possibility of a further downside correction, reaching a Fibonacci retracement level of 0.618 to 0.5. In such a case, the $2,305 mark is expected to act as a solid defensive zone for those who are optimistic about gold's prospects.
OANDA:XAUUSDShort
by RKarina
XAUUSD - Bearish but outlook still bullish!Hi everybody. At the beginning of today's trading session, gold fell after a strong increase late last Friday. Year-to-date, the precious metal is down more than $10, reflecting a 0.48% drop on the day. Looking ahead, gold is expected to face more short- and medium-term corrections. However, from a long-term perspective, investors and markets are still optimistic that gold will regain the $2,400 level. This belief is reinforced by signs that the US labor market is cooling. With inflation under control and US interest rate cuts expected to increase - currently expected to happen twice - the outlook for gold remains positive, encouraging traders to stay maintain faith in its resilience!
OANDA:XAUUSD
by RKarina
Gold price today: Forecasted to continue to increase sharply?Hello dear friends, let's learn about gold prices in the new week! Currently, gold is continuing to adjust after a strong price increase over the last two days of last week. This metal is trading around 2,358 USD in the first trading hours of the second day and down 0.11% on the day. Accordingly, the correction is taking place according to the basic wave structure, so there is nothing too worrying about the metal's ability to continue to recover. In terms of outlook: Gold targets the 2045 USD range to test the EMA line as well as complete the correction wave around the 0.5-0.618 Fibonacci level followed by a price increase again according to Dow theory. Regarding forecasts: Of the 17 analysts who participated in the survey, 10 experts, or 59%, expect to see gold prices move higher next week; while only 2 analysts, accounting for 12%, predict prices will decrease. The remaining five experts, or 29% of the total, see gold trending sideways.
OANDA:XAUUSDLong
by RKarina
Gold price returns to the race to increase?Global gold prices have continued their upward trend, with gold prices reaching $2,360/ounce. This is the strongest increase in 5 weeks, as more and more investors expect that the US Federal Reserve (Fed) will soon adjust monetary policy towards loosening. This optimism is further reinforced by recent economic data, which shows a slowdown in the US economy, increasing expectations that the Fed will have to loosen monetary policy in the near future. Specifically, after the US monthly employment report did not meet expectations, the latest report on weekly unemployment benefit applications increased higher than expected, which pushed gold prices up more than 1%. , reaching its highest level of the month.
OANDA:XAUUSD
by RKarina
Gold price today: Gaining momentum again!Golden information: According to the weekly report from the US Department of Labor, the number of first-time applications for unemployment benefits in this country has increased to the highest level since August last year. In the week ending May 4, the number of people applying for unemployment benefits for the first time in the US increased by 20,000 people compared to the previous week, an increase that exceeded expectations, to 231,000 people. The data raises expectations that the Fed will begin cutting interest rates at some point this year. Gold is a non-interest-bearing asset, so the strength of gold prices is often reinforced when the prospect of the Fed cutting interest rates increases. In addition, gold price this session is also supported by the decrease in USD exchange rate and US Treasury bond yields. After the US jobs report, the Dollar Index measuring the strength of the USD decreased by about 0.3%, to more than 105.2 points. Gold is priced in USD, so USD depreciation is a beneficial factor for gold prices.
OANDA:XAUUSD
by RKarina
XAUUSD - Shocking price increaseEveryone, let's find out what's new in the gold market today! Yesterday, gold saw a significant breakthrough, as the metal rose from around $2300 USD to as high as $2350 USD at the moment, completely shedding previous bearish sentiment. The weakening of the USD has strongly supported the upward trend in the price of this precious metal. In addition, gold prices rose even higher "after a number of major central banks decided to cut interest rates or signaled their willingness to cut interest rates further in the future." Lower interest rates reduce the "opportunity cost" of holding gold, a non-yielding asset, making it a more attractive investment. Looking at the chart analysis: Gold is approaching the resistance area as marked. On the upside: If it succeeds in maintaining this trend and successfully closes above resistance, XAUUSD will open up a profitable opportunity to quickly move towards $2400 USD. On the other hand, if a pullback to correct the trend occurs, XAUUSD will retest the breakout zone at $2330 USD once again, but the uptrend will still be maintained as the 34 EMA is reversing and signaling positivity for buyers.
OANDA:XAUUSDLong
by RKarina