XAUUSDGreetings!
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Xauusd(w)
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!
XAUUSD/ GOLD TRADING LEVELS (Intraday/Swing)Gold/XAUUSD Seems Bearish on Technical and Fundamental Basis..
Above are levels to trade gold better...
Sell on rise would be better strategy
could be Short/ Sell Now At 2007 with Tgt of 1995 towords 1980....
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.
Gold Neowave UpdateHello Everyone
This is an update in neowave counts. Here are the keypoints.
** For Now we were in wave 2 and price was consolidated.
** The price falling from wave-((c)), can be a start of an new wave, well it is jst the price confirmation has to come yet.
Expectation is that price should fall below 1973, for this pattern
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
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?
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.
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
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!
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?
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.
XAUUSD BUY PROJECTION 14.01.23Reason For Bulllish
1. Bullish Spinning Top in Single Candlestick
2. Morning Star Patttern In Three Candlestick Pattern
3. Ascending Triangle Chart Pattern
4. Obey Support & Fibo Retracement @ 2020-30
Overall Possible Outcomes
XAUUSD BUY @ 2035-40
SL 2002
TP 1 2062
TP 2 2089
TP 3 2150
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.
XAUUSDGreetings!
Welcome traders.
By choosing to "Follow", you can stay updated with the latest information promptly. Kindly consider clicking "Boost" as well.
Wishing you a pleasant day.
Update the latest gold price todayDear friends,
Looking at last week's chart, gold experienced a slight decline, but the long-term prospects remain quite positive. At the time of writing, the price is trading steadily around $2038, with support from the $2016 level.
As long as the trend line remains strong, I believe gold will generate a breakthrough above $2045 and aim for my profit target of $2065 and $2088.
What about you? Do you think gold has the potential to increase in value in the near future
How is gold trading today?Dear friends,
Currently, the price of Gold is not experiencing significant fluctuations, mainly hovering around the $2030 mark and still stuck in a downward trend.
Regarding our trading strategy for Gold: On the analysis chart, Gold is being limited below the resistance level of $2036 and is confluencing with two EMA lines, further supporting the downward trend. Therefore, we will prioritize Sell orders with a profit target at the defensive level of Bulls in 2020 - $2017.
Wishing you good luck!
Gold drops to 2000 USD?Hello everyone, it's great to meet you all again for today's discussion on the price of gold!!
Currently, the price of gold is trading around $2028, which is a decrease as expected from yesterday's session after a correction and a breakthrough below the previous support level of $2030.
Regarding today's outlook: Gold continues to lean towards a downward trend as the technical signals of the EMA 34 and 89 remain above the price range. The current support level is $2016, as long as gold does not break out from here, the price will further decline to around $2000, with a consideration of $1980.
As long as gold continues to stay below the resistance level of $2050, the path downwards remains wide open.
Gold sellers need validation from $2,017 and US CPIGold price remains on the back foot for the second consecutive week, so far, as traders await the key US inflation data, namely the Consumer Price Index (CPI) figures for December. That said, the precious metal’s sustained trading beneath crucial Exponential Moving Averages (EMAs) and mostly steady RSI (14) line keeps the XAUUSD sellers hopeful. However, an upward-sloping trend line from early November, close to $2,017 by the press time, restricts the downside of the bullion. Should the quote manage to break the stated key support line, backed by upbeat US inflation numbers, the sellers can quickly aim for the previous monthly low of around $1,973. However, the $2,000 threshold may act as an intermediate halt.
On the contrary, the Gold buyers need to portray a successful break beyond the 50-EMA and the 100-EMA convergence, near $2,040, to reclaim the market’s confidence. Even so, the downbeat US CPI and a sustained run-up beyond a five-week-old falling resistance line, close to $2,055 as we write, become necessary for the XAUUSD bulls. Following that, the previous monthly high of around $2,090 will be the last defense of the sellers before directing the quote toward the record high marked in 2023 surrounding $2,048.
Overall, the Gold sellers are flexing muscles but the metal’s downside move hinges on a $2,017 break and the US CPI.
XAUUSD 1H SELL PROJECTION 11.01.24Reason For Bearish
1. Stochastic Oscillator Overbought abobe 80 and ready for Bearish
2. RSI 14 @ 55 which Pushes to Sell Trend in 1H
Overall Possible Outcomes
XAUUSD/GOLD SELL @ 2030.60
SL 2036.5
TP 1 2024
TP 2 2020
How does gold trade?Dear friends, the price of gold continues to decline and is currently trading around $2035.
According to our chart analysis, gold has formed an inverted cup and handle pattern. The current support level is $2017. Additionally, the 10-year US bond yield has surpassed 4% per annum. This factor has prompted investors to pour money into bonds, resulting in minimal flow into precious metals. Therefore, it is inevitable that the price of gold will continue to trend downwards.
In fact, during the overnight trading session, the global gold price reached $2040 per ounce at times. However, concerns have arisen as the US dollar strengthens and US bond yields rise. Many are worried that this will cause a decrease in the price of gold. As a result, they are looking for ways to sell and recover their capital, leading to a decline in the price of gold and making it difficult for it to recover.
Gold promises to increase in price?Dear readers, in the short term, our priority remains to sell due to the current price adjustment phase, with trading hovering around $2035. However, when considering the long term, the analysis of the 1D chart supports a strong upward trend for gold, with a clear support level at $2017. Another favorable factor for gold is that the trend line has not been broken yet.
These two factors, along with market sentiment resulting from interest rate cuts this year, will be the main drivers for investors to push prices back to the resistance level of $2088 and achieve a new all-time high.
Gold prices are expected to continue to go downDear friends, it's great to see you again in today's trading session.
At the time of writing this article, the price is fluctuating around $2033 at the start of the trading session, showing a slight recovery after a sharp drop to $2017 at the end of yesterday's trading session.
The precious metal has broken out of the support level at $2033 and the price analysis chart indicates a clear downward trend with a convergence preparing for a reversal from the 4 and 89 EMA.
It is expected that the current price correction will continue until a retreat of 0.5 or even 0.618. We can anticipate further decline in gold after this correction phase. Selling opportunities should be prioritized, my friends!
