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XAUUSD June 3, 2024 Gold's target zone?We expect the price to reach the target zone of wave 5 to find conditions for executing buy orders in this zone. As Friday passes, the market eagerly awaits the personal consumption expenditure (PCE) price index to be announced later. It is expected to show moderate price pressure in April, which would support the case for a rate cut later this year. Anticipation of interest rate cuts is favorable for gold as a non-yielding asset. Looking at H1, we see that the price dropped sharply last weekend. Currently the price is in the 2330 area - Looking at RSI, we see the phenomenon of bottom divergence. This signals that the immediate selling force has weakened. Maybe the downward momentum will no longer be strong - Looking at the current price structure, we can see that the price is currently completing wave 5 - We have wave 5 targets which are 2 price zones: 2317.6 and 2311.5 - Looking at the momentum indicator, we see that the momentum is currently in the overbought zone and could reverse at any time. - We expect the price to reach the target zone of wave 5 to find conditions for executing buy orders in this zone. Deekop's analysis is free from any personal bias intended to serve everyone. I can't always be right - no one can. But my analyzes reflect Deekop's meticulous assessment of the market situation in the medium and long term and nothing more to help people have the best trading plan.
OANDA:XAUUSDShort
by DEEKOP
XAUUSD week 1 June 2024 US economy going down?1. US Q1 GDP was revised down due to weak consumer spending. 3. Israel will not end the conflict to reach an agreement to release all hostages. 4. OPEC+ is working on a complex production cut agreement for the period 2024-2025. 5. US April pending home sales suffered the largest decline in three years. With important information last week we see - The US economy is under strong pressure from the Fed's tightening monetary policy. - Besides, OPEC cutting oil production will push oil prices up and when oil prices increase, gold also increases. - The continued escalation of the Israeli conflict will push gold prices higher. Looking at H4 we see - After news of PCE, gold price increased sharply then decreased, completely negating the previous increase and breaking 2323 stone. - The 2323 price range was broken, invalidating our previous wave counting process with the expectation that the correction had ended. So with the 2323 price range being broken, the correction process is still continuing. - So it is possible that the price will continue to complete the target of wave 5 at the price range 2317 and 2311. - We have the 2465 zone which confirms wave 5 has completed when the price surpasses this zone - Next week we will wait for the price reaction in these areas to conduct buying transactions. Deekop's analysis is free from any personal bias intended to serve everyone. I can't always be right - no one can. But my analyzes reflect Deekop's meticulous assessment of the market situation in the medium and long term and nothing more to help people have the best trading plan.
OANDA:XAUUSDLong
by DEEKOP
XAUUSD May 31, 2024 gold price reaches correction target?Our trading plan is to wait for the price to react in the price range 2337 to 2332 to look for buy signals. The news was announced yesterday Preliminary GDP news is 1.3%, lower than expected 1.6% Applications for unemployment benefits were 219k, higher than the previous period's 216k News that pending home sales are down 7.7% Yesterday's news indicators are showing that the US economy is facing difficulties due to the Fed's monetary policy control. Looking back a bit, we see that the CPI (Consumer Price Index) this period has decreased compared to the previous period. Tonight, the PCI (Personal Consumption Index) will be announced. If this index cools down, US inflation should have a good signal. This will contribute to helping the FED loosen its current monetary policy. The goal of tightening monetary policy is to ensure inflation reaches 2%, and when tightening monetary policy, raising interest rates will cause the economy to stagnate. Therefore, if US inflation has shown signs of cooling down while the economy is showing signs of stagnation, it is necessary for the Fed to consider policies to ensure a balance between economic goals and inflation goals. . Looking at the H1 chart, we see that the first target of wave 5 was achieved, then the price rebounded. - After the price bounces back, it is still early to say the correction has ended because the correction is confirmed to end when the price closes above 2450. But at least we will expect a price increase to the target. 2400 next week. - Currently we have price that has completed wave 1 as shown on the chart and is completing wave 2. We have a very good buying target which is the price range from 2337 to 2332. Our trading plan is to wait for the price to react in the price range 2337 to 2332 to look for buy signals.
OANDA:XAUUSDLong
by DEEKOP
XAUUSD on May 30, 2024, the rally is about to beginWith the wave 5 targets projected on the chart, we have 2 target zones: zone 1 is 2322.7 and target zone 2 is 2311.5. Today will release news on unemployment claims, preliminary GDP, and pending home sales, with forecasts worse than last period, if tonight's actual index reflects correctly. This seems to signal that the US economy is being affected by monetary policy due to maintaining current high interest rates. Tomorrow is an important day to announce the PCI index (Index of price changes and consumer goods purchased by consumers excluding food and energy). If this index cools down, it could influence the Fed to loosen current monetary policy. Looking back over recent times, we see that the CPI inflation index has begun to show signs of decreasing, combined with economic pressure that may cause the Fed to decide to loosen its monetary policy, especially tomorrow if PCI index cooled down. Looking at H1, we see that the price has completed wave 4 and is continuing to complete wave 5. - We see that the current price has broken below the supply and demand balance zone as shown on the chart - With the wave 5 targets projected on the chart, we have 2 target zones: zone 1 is 2322.7 and target zone 2 is 2311.5. - We wait for the price to reach the 2322.7 or 2311.5 areas to find reversal signals to decide to buy.
OANDA:XAUUSDShort
by DEEKOP
XAUUSD May 29, 2024 Is the upward correction over?Looking at the current H1, we see that the price has reached the first target of wave 4 Looking at the preliminary forecast of US economic indicators tomorrow night we see. - Prelim GDP q/q decreased from 1.6% to 1.2% - Unemployment Claims increased from 215K to 218K - Pending Home Sales m/m decreased 3.4% to -1.1% US economic indicators show that the economic situation appears to be weakening due to tightened monetary policies. Maintaining high interest rates today makes it difficult for people and businesses to access capital, leading to a decrease in people's demand for housing consumption, in addition to pushing up raw material prices, leading to increased commodity prices. making it difficult to maintain operations of factories, leading to an increase in people applying for unemployment benefits. This continues to put pressure on the Fed to loosen monetary policy in the near future. Looking at the current H1, we see that the price has reached the first target of wave 4 and the price is reacting sideways in this area. If the price breaks below the 2352 area and then recovers without exceeding the previous peak area, this is a very good sell down signal. - If the price rises above the 2364 area, we wait for the target wave number 2 of wave 4 to find a sell signal. - After the price completes wave 4, it will continue to trend with wave 5. From the current data, we will get the expected targets of wave 5 at target zone 1 at 2322 and target 2 at zone 2311. - In the target areas of wave 5, we will find suitable conditions to enter a BUY 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 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 on May 23 2024 fluctuated strongly after the Fed meeting?Hello everyone, DEEKOP is ready to bring the most accurate signals and assessments to everyone. Financial freedom is true freedom. Yesterday the Fed meeting with its published content showed - The data shows that commodity prices have increased significantly recently, which indicates that inflation is increasing. - Fed says inflation may take longer to fall - The current federal funds rate is enough to slow US economic activity and reduce inflation With such announcements, it appears that the prospect of interest rate cuts expected by the Fed this year may be changed. When this information was announced yesterday, it immediately pushed gold prices down sharply yesterday session to 2370. Look at H1 - Wave c is the last corrective wave of the abc corrective wave, the structure of wave c includes 5 small waves - The strong and sharp price decrease last night can be said to be wave 3 in wave c being formed. - We expect that the expected target of wave 3 is level 2365 and level 2345 - Then there could be a small correction to complete wave 4 before continuing to complete wave 5 as well as wave c of the correction. - We observe the formation of wave 4 ending to determine the target of wave 5 as well as wave c of the correction Trading plan We continue to observe the completion of wave 3 and wait for the end of wave 4 to determine the target of wave 5 to buy. 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
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 May 20, 2024 What is the target of this price increase?Hello everyone, DEEKOP is ready to bring the most accurate signals and assessments to everyone. Financial freedom is true freedom. Last week, the Russian president's visit to China will have two purposes: first, Russia and China create cooperation, which will make Russia's war in Ukraine continue to take place according to Russia's plan after the With China's support, the war in the Middle East and the factions supported by these two countries will gain more momentum. Second, these two countries are key members of the BRICS bloc. This visit will create momentum for the bloc to continue buying Gold to strengthen the bloc's common currency that is about to be released. In addition, with last week's announcement of US economic indicators, we see a decrease in the number of applications for unemployment benefits in the context of a continuous decline in the labor market, and at the same time the CPI index is at a high level. This shows that the American people are gradually adapting to the current economic situation, which will create confidence for the Fed to at least keep interest rates high to restrain inflation. So we see that the current volatile world situation is having a stronger impact on gold prices than the US economic index. Looking at the H1 graph based on the Elliot wave principle, we see - The price is at the end of wave 5. After measuring the target forecast for the end of wave 5, we have potential target areas that are 2444 and 2460. - After wave 5 ends, we expect an ABC correction before continuing the uptrend - The corrective wave target is expected to launch from the peaks of wave 5. We have 2 expected targets: area 2400 and area 2380. But according to the Elliot wave principle, corrective waves are often very complicated and take a long time. Trading plan In the Sell plan, we align the important price zones at 2444 and 2460 In our Buy plan, we watch the important price zones at 2400 and 2380 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
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
#XAUUSD Has Already Acquuired Big Liquidity For NFP Data As expected, the market movers executed a well-coordinated setup to clear out sellers who had entered short positions below 2300. This move triggered stop losses for sellers. Subsequently, after reaching 2320, many buyers entered the market anticipating a further rise towards 2350. However, the market makers took advantage of this, triggering stop losses for both buyers and sellers, thus achieving the necessary liquidity for a significant movement ahead of tomorrow's NFP. I anticipate that during the NFP release, we may witness a move towards 2200-2180 if we observe another H4 closing below 2290. Once We Get H1/H4 Closing Below 2295 We Can Sell Till 2286-2280 with Sl around 2305 .If H4 Closes Below 2290 Than It Will Confirm Our Bearish Trend And We Can Expect 2260-2200.
OANDA:XAUUSDShort
by MrKTechnicalLevels