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#XAUUSD:Will Further Escalation In Middle East Support The BullsGold was retested on Friday after USD data came out in support of the USD. The DXY rose back strongly, leading many USD pairs to melt heavily. Furthermore, the gold price dropped to the 2633 region and then retested a few more times before ranging between 2633 and 2658. Now, since the last three daily candles closed with strong wick rejections, we believe the price is likely to continue going up, up until 2730. Fundamentals and technical analysis support our view since the ongoing conflict in the Middle East is likely to worsen in the coming days. That will likely raise concerns among investors worldwide. If you like the idea, please like and comment. Let's discuss the idea in the comment box.Gold was reassessed on Friday following the release of USD data that favored the USD. The DXY experienced a significant increase, causing several USD pairs to decline sharply. Furthermore, the gold price fell to the 2633 region and underwent multiple retests before fluctuating between 2633 and 2658. Given that the last three daily candles closed with notable wick rejections, we anticipate a continued upward trend in the price, potentially reaching 2730. Our perspective is supported by both fundamental and technical analyses. The ongoing conflict in the Middle East is expected to escalate in the coming days, potentially generating increased investor apprehension worldwide. If you find this analysis valuable, please indicate your approval by liking and commenting. We encourage a constructive discussion of this concept in the comment section.
OANDA:XAUUSDLong
by Setupsfx_
2
XAUUSD 1H BUY PROJECTION 03.10.24Reason for Bullish Several media outlets reported that Israel delivered a harsh response to the recent Iranian attack by bombing central Beirut in the early hours of Thursday. Lebanese security officials said that three missiles also struck the southern suburb of Dahiyeh, the place of Hezbollah leader Hassan Nasrallah's killing. Lebanese health officials also reported that multiple people were injured following Israel’s strike in Beirut. Iranian forces on Tuesday used hypersonic Fattah missiles for the first time and 90% of its missiles successfully hit their targets in Israel. Tehran said this attack was in response to Israeli killings of militant leaders and aggression in Lebanon against the Iran-backed armed movement Hezbollah and in Gaza. Despite the increasing risks of the Israel-Iran conflict turning into a wider regional war in the Middle East, Gold price is struggling to capitalize on the risk-off flows, as diminishing odds of a 50 basis points (bps) interest rate cut by the Fed in November keep the sentiment around the US Dollar underpinned at the expense of the non-interest-bearing Gold price.
FOREXCOM:XAUUSDLong
by kripsonfx97
Update XAU : 03.10.2024After corrected Plan BUY XAU 2626 ( Last week ) An Overview of the Gold Plan on the H1 Chart ✍️ After gold reached the 2626 level, it experienced a strong recovery. Based on the current chart, gold has officially reversed the short-term correction and is continuing its upward trend. ✍️ From my perspective, yesterday, the second corrective wave was completed, and gold is now in the process of building the third impulsive wave. ✍️ To properly complete the third wave in this phase, gold will likely try to form a full Wyckoff re-accumulation range, meaning it might consolidate (sideways) for the rest of today to prepare for tomorrow’s NFP (Non-Farm Payrolls) report. Of course, there may be shakeouts when the news is released, so caution is advised. ✍️ Regarding volume, we observe that when the price rises, there's volume alignment, whereas during price declines, volume steadily decreases. There are only occasional spikes in volume, but they don't significantly impact the market's upward momentum. 👉 As for the detailed NFP trading plan, I'll update that tomorrow. For today's plan, I'm focusing on the BUY trend at 2649.5.
FX:XAUUSDLong
by Finn_Rm3x
XAUUSD SHOWING A GOOD BULLISH MOVE WITH 1:10 RISK REWARD XAUUSD SHOWING A GOOD BULLISH MOVE WITH 1:10 RISK REWARD DUE TO THESE REASON A. its following a rectangle pattern that stocked the market which preventing the market to move any one direction now it trying to break the strong resistant lable B. after the break of this rectangle it will boost the market potential for break C. also its resisting from a strong neckline the neckline also got weeker ald the price is ready to break in the outer region all of these reason are indicating the same thing its ready for breakout BREAKOUT trading are follws good risk reward please dont use more than one percentage of your capitalfollow risk reward and tradeing rules that will help you to to become a bettertrader thank you
FX:XAUUSDLong
by tradergyan01
3
XAUUSD 1H SELL PROJECTION 01.10.24Reason for sell Central banks hold paper currencies and gold in reserve. As central banks diversify their monetary reserves (away from the paper currencies they accumulate and into gold) the price of gold typically rises. Many of the world’s nations have reserves that are composed primarily of gold. Bloomberg reported that global central banks have been buying the most gold since the United States abandoned the gold standard in 1971, with 2019 figures dipping just modestly from 2018’s 50-year record. 4 After a downtick in central bank gold purchases in 2020, the pace picked up again in 2021 and surpassed the 50-year record again in 2022. 2023 also saw a significant growth in central bank gold reserves. 5 6 7 The top gold buyer in 2022 was the central bank of Türkiye, followed by Uzbekistan, India, and Qatar. The top gold buyers in 2023 were China, Singapore, and the Czech Republic. 7 8 9 Silver Bullion. "Top 5 Countries That Were Net Buyers of Gold in 2023."
FXOPEN:XAUUSDShort
by kripsonfx97
Plan XAU 20.09.2024✔️ I think gold will move within a wide sideways range today. If you're looking to SELL, aim for the top at 2597 - 2598. ✔️ The lower points will be BUY zones. For these points, manage your capital carefully and gradually with every 1/2R, guys. ✔️ Gold's movement yesterday was quite surprising. Those who SOLD at the FOMC peak likely got stopped out, and the same for those who BOUGHT. This range is quite wide and difficult to trade, so make sure to trade with consistent and stable volume. Don’t double your position size out of frustration from a single stop-loss and let it affect your mindset! ✔️ It's Friday today, wishing you successful trading!
OANDA:XAUUSD
by Finn_Rm3x
XAUUSD 1H SELL PROJECTION 18.09.24old buyers regain control, as the 14-day Relative Strength Index (RSI) remains comfortably above the 50 level, having eased off from near the overbought territory. The optimism prevails so long as they defend the one-and-a-half-month-old symmetrical triangle target now support at $2,560. That said, the immediate resistance is seen at the record high of $2,590, above which the $2,600 level will be tested. Acceptance above that level will call for a test of the $2,650 psychological barrier. If the Fed disappoints the doves, Gold price could witness a fresh sell-off, which could challenge the August 20 high of $2,532. Additional declines will threaten the 21-day Simple Moving Average (SMA) at $2,522, below which the $2,500 mark will be on sellers’ radars.
OANDA:XAUUSDShort
by kripsonfx97
1
XAUUSD 4H SWING SELL PROJECTION 13.09.24Technical Reason for Gold Sell You're looking for technical reasons to sell gold. Here are a few: 1. Overbought conditions: If gold's Relative Strength Index (RSI) exceeds 70, it may be due for a correction. 2. Trend line break: A break below a key trend line, like the 50-day moving average, could signal a sell. 3. Chart patterns: A head and shoulders pattern or a double top could indicate a reversal. 4. Fundamental changes: A strengthening US dollar, rising interest rates, or improved economic conditions could reduce gold's appeal. Keep in mind that technical analysis is not foolproof, and it's essential to combine it with fundamental analysis and market news. Would you like more information on gold trading?
OANDA:XAUUSDShort
by kripsonfx97
2
XAUUSD 1H BUY PROJECTION Reason for Bullish Interest Rate Cuts and Economic Indicators Two Federal Reserve policymakers voiced their opinion on Tuesday, stating it would be “reasonable” to expect three interest rate cuts in the U.S. within the year. This perspective comes despite a backdrop of robust economic indicators, which have led some investors to question the feasibility of such moves. The anticipation of interest rate adjustments is a critical factor influencing financial markets and investment strategies. Surge in Gold Prices The price of gold has surged over 10% since the start of the year, cementing its status as a preferred hedge against inflation and a sanctuary amid political and economic uncertainty. This significant uptick is largely due to considerable purchases by central banks and a rising demand for safe-haven assets. Gold and Silver Prices Today As of April 5th, 2024, the precious metals market has observed noteworthy movements. Gold prices have reached new highs, driven by global trends and market dynamics, reflecting the continuous appeal of gold as an investment. U.S. Economic Outlook Recent data indicates a slowdown in the growth of the U.S. services industry for March, with a concurrent reduction in the prices businesses pay for inputs, hitting a four-year low. These developments suggest a potentially favorable outlook for inflation, influencing investment decisions and monetary policy.
FOREXCOM:XAUUSDLong
by kripsonfx97
XAUUSD 1H SELL PROJECTION 10.09.24Reason for Bearish Gold prices have continued to hit fresh highs in 2024 due to a wide range of factors — from escalating geopolitical risks and the interest rate outlook to budget deficit concerns, inflation hedging and central bank buying. Gold’s blistering rally this year was partly fueled by expectations the Federal Reserve (Fed) would cut interest rates as many as three times in 2024, as stubborn inflation started to ease. But current projections suggest only one rate cut is penciled in for the remainder of 2024. Traditionally, a weaker U.S. dollar and lower U.S. interest rates increase the appeal of non-yielding bullion. But a significant decoupling started to emerge in early 2022 and gold’s relationship with U.S. real yields has broken down even further this year. “Gold’s resurgence has come earlier than expected, as it further decouples from real yields. We have been structurally bullish gold since the fourth quarter of 2022 and with gold prices surging past $2,400 in April, the rally has come earlier and has been much sharper than expected. It has been especially surprising given that it has coincided with Fed rate cuts being priced out and U.S. real yields moving higher due to stronger labor and inflation data in the U.S,” said Gregory Shearer, Head of Base and Precious Metals Strategy at J.P. Morgan.
PEPPERSTONE:XAUUSDShort
by kripsonfx97
XAUUSD/GOLD NFP NEWS FORCAST 06.09.24The Non-Farm Payrolls (NFP) report is a monthly US labor market indicator that measures the number of jobs added or lost in the previous month. The NFP report is released by the Bureau of Labor Statistics and is usually available on the first Friday of each month. The NFP report is a significant economic indicator that can have a big impact on the global financial markets. Here are some reasons why the NFP report is important: Forex market The NFP report is one of the most significant news announcements in the foreign exchange (forex) market, causing large movements in the market. Interest rate policy The Federal Reserve pays close attention to the NFP report when setting interest rate policy. Economic expansion Increasing NFP numbers may indicate economic expansion, but they may also be a sign of inflation. Economic concerns Decreasing NFP numbers may indicate broader economic concerns. There are two ways to trade the NFP report: Before the release Use deductive reasoning to predict the market's direction before the NFP number is released.
FXOPEN:XAUUSD
by kripsonfx97