Analysis of the gold trend in the Asia-Europe session on 14/08/2Analysis of the gold trend in the Asia-Europe session on 14/08/2024:
After forming a double bottom pattern at 2380, gold experienced a nearly 100-point increase. Yesterday, the PPI did not help gold break through the resistance zone of 2473-2475. If gold breaks the area of 2458-2460, it will officially confirm the double top pattern.
However, today's CPI is still a mystery. Is this a correction phase or just a fake breakout? The long-term trend remains a BUY, but short-term SELL trades can be made at the peak area.
Key price levels to watch: 2473-2475, 2444-2447, and 2430-2434.
Recommended orders:
Plan 1: SELL XAUUSD zone 2473 - 2475
SL 2479
TP 2468 - 2458 - 2445.
Plan 2: BUY XAUUSD zone 2444-2447
SL 2441
TP 2455 - 2468 - 2485 - 2509.
Plan 3: BUY XAUUSD zone 2430-2433
SL 2427
TP 2444 - 2458 - 2468 - 2509.
Xauusd4h
XAUUSD/GOLD Weekly Sell Projection 11.08.24Gold price trades in a channel formation on a daily timeframe, which is slightly rising but broadly exhibited a sideways performance for more than three months. The 50-day Exponential Moving Average (EMA) near $2,370 continues to provide support to the Gold price bulls.
The 14-day Relative Strength Index (RSI) oscillates within the 40.00-60.00 range, suggesting indecisiveness among market participants.
A fresh upside would appear if the Gold price breaks above its all-time high of $2,483.75, which will send it into unchartered territory.
On the downside, the upward-sloping trendline at $2,225, plotted from the October 6 low near $1,810.50, will be a major support in the longer term.
XAUUSD/GOLD 1H BUY PROJECTION 09.09.24The allure of non-yielding bullion tends to increase when interest rates are lowered because the opportunity cost of holding gold decreases. Investor sentiment has played a significant role in the recent spike in gold prices. The current market positioning reflects a strong bullish outlook on gold.
XAUUSD/GOLD 30M Buy Projection 08.08.24Reason for Bullish
oday, US Dollar is expected to fall against the Gold (per ounce), as the forecast expects the XAU/USD exchange rate to move to $ 2,391.05 from the current rate of $ 2,401.74. In the next 7 days, US Dollar is predicted to increase compared to the Gold (per ounce) by $ 2,352.97.
XAUUSD/GOLD 04.08.24 DETAILED SELL PROJECTIONAfter coming within a touching distance of a new all-time high near $2,480 with the immediate reaction to disappointing US labor market data on Friday, Gold reversed its direction and declined below $2,420. Profit-taking ahead of the weekend might be weighing on XAU/USD
XAUUSD 1H Sell Projection Customs duty cuts: The Indian government announced cuts to customs duty on gold in the Union Budget 2024, reducing it from 15% to 6%.
Concerns over demand in China: Demand for gold in China may also have contributed to the price drop.
Better-than-expected US data: Better-than-expected US Q2 GDP and jobless claims data may have also put downward pressure on gold prices.
XAUUSD BUY & SELL PROJECTION 27.02.24Buy Reason
The allure of non-yielding bullion tends to increase when interest rates are lowered because the opportunity cost of holding gold decreases. Investor sentiment has played a significant role in the recent spike in gold prices. The current market positioning reflects a strong bullish outlook on gold.
Sell Reason
The reasons why gold prices may experience a fall in value include an excess of supply relative to demand and shifts in investor sentiment. A strong dollar and rising interest rates can also hurt the price of gold, as can low inflation.
XAUUSD/GOLD Forcast Core PCE Price Index m/mThe Core Personal Consumption Expenditure (PCE) Price Index measures the changes in the price of goods and services purchased by consumers for the purpose of consumption, excluding food and energy. Prices are weighted according to total expenditure per item
XAUUSD 1H W Pattern Formation 24.07.24The W pattern is made up of several key components. The first bottom usually forms after a prolonged price decline, indicating the lowest point of the current downtrend. The price then rises, forming the middle peak, before declining again to form the second bottom.
XAUUSD DAILY BUY PROJECTION The allure of non-yielding bullion tends to increase when interest rates are lowered because the opportunity cost of holding gold decreases. Investor sentiment has played a significant role in the recent spike in gold prices. The current market positioning reflects a strong bullish outlook on gold.
XAUUSD 15M SELL PROJECTIONKEY TAKEAWAYS
Throughout history, gold has been seen as a special and valuable commodity.
Today, owning gold can act as a hedge against inflation and deflation alike, as well as a good portfolio diversifier.
As a global store of value, gold can also provide financial cover during geopolitical and macroeconomic uncertainty.
Gold has an actual purpose as it's been used in electronics and dentistry.
Gold is becoming easier and easier to buy, and you can now own gold without having to physically maintain or secure it.
XAUUSD SELL LIMIT PROJECTION 07.07.24Probably not, but it may continue to trend upward over the long run, interrupted by pullbacks and bear markets. It’s important to note that gold prices have historically been volatile and have fluctuated quite a bit over time. The price of gold, like any other commodity, is subject to the laws of supply and demand. When the supply of gold is low and demand is high, the price will rise. Conversely, when the supply of gold is high and demand is low, the price will fall. Additionally, other factors like interest rates, inflation, currency value, geopolitical events, and economic conditions can have an impact on gold prices.
XAUUSD 4H DECENDING TRIANGLE PATTERN FORMED 30.05.24A descending triangle is a bearish chart pattern in technical analysis that's characterized by two trendlines: a descending upper trendline and a second, flatter horizontal trendline that's lower than the first. The pattern is formed by a series of lower highs that meet the flat support line at the bottom
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.
XAUUSD 13.04.24 SELL & BUY PROJECTION Reson For Sell
1.Reached all time High and Seller Pushes to Lower
2. Breaked Support @ 2365
3.Retesting the Breaked Zone
Reason For Bullish
1. Obey Trendline $ Support @ 2310-20
2.Fundamendal News and Politics
Overall Possible Outcomes
XAUUSD SELL 2355-60
SL 2370
TP 2320
XAUUSD BUY 2310-2320
SL 2270
TP 1 2360
TP 2400
TP 3 2430