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XAUUSD CORRECTION PHASE ? WHAT'S NEXT ?Hello Trader's , Hope you are doing good. Happy weekend everyone . So we have seen the volatility of first week of 2024. Currently the range is 2050-2020 , Yesterday's closing at around 2045. From my experience i think GOLD will fall more on this upcoming week. We have CPI & PPI in this week. I think its a correction phase. I don't think it will fall below 2000 mark (except fake breakdown). I have marked the H4 critical level on the chart for smooth operation. You can see .
OANDA:XAUUSD
by martiantrader9
Bearish Analysis for XAUUSD at 2075-2080 LevelsXAUUSD pair is currently trading in a critical price range, specifically between 2075 and 2080. This analysis aims to provide a bearish perspective on the market conditions within this price bracket. Technical Analysis: Resistance Levels: The price range of 2075-2080 has historically acted as a significant resistance zone. Multiple attempts to breach this level have been met with strong selling pressure, indicating a notable barrier for upward movement. Bearish Candlestick Patterns: Recent candlestick patterns, such as shooting stars or bearish engulfing patterns, signal potential weakness in the current uptrend. These patterns suggest that sellers are gaining control, and a reversal might be in play. Overbought Conditions: Examining various technical indicators, it becomes evident that the market is in an overbought state. Indicators like the Relative Strength Index (RSI) or stochastic oscillators highlight the potential for a correction or reversal. Fundamental Analysis: Dollar Strength: The strength of the US dollar should not be overlooked. Any signs of a strengthening dollar could add further downward pressure on gold prices. Monitoring economic indicators and Federal Reserve statements can provide insights into the USD's trajectory. Inflation Concerns: With the global economy recovering, there are growing concerns about inflation. While gold is often seen as a hedge against inflation, excessively high inflation expectations could lead to a shift in investor sentiment and capital allocation. Market Sentiment: Speculative Positioning: Analyzing the positioning of market participants, especially institutional traders and hedge funds, provides valuable insights. A significant buildup of short positions in this price range could signal a broader market sentiment leaning towards a bearish outlook. News and Events: Keep a close eye on economic news and geopolitical events. Any developments that could impact risk sentiment or the perceived safe-haven status of gold may influence the market's direction. Risk Management: Considering the potential for market volatility, it's crucial for traders to implement effective risk management strategies. Setting stop-loss orders and closely monitoring the trade as it progresses can mitigate potential losses. Conclusion: In conclusion, the 2075-2080 price range for XAUUSD presents a compelling bearish opportunity based on both technical and fundamental factors. However, prudent risk management and continuous monitoring of market conditions are essential for successful trading. Remember that actual market conditions can change rapidly, and it's important to stay updated with the latest information and adjust your analysis accordingly. Additionally, individual trading decisions should be based on a comprehensive understanding of your risk tolerance, financial goals, and market conditions.
FOREXCOM:XAUUSDShort
by ishhakmansur
1
XAUUSD: Gold trend after breaking the upward price channelToday we will have very important USD news: ISM Manufacturing PMI, JOLTS Job Openings, ISM Manufacturing Prices and in the early morning of November 2 there will be 3 more news: Federal Funds Rate, FOMC Statement, FOMC Press Conference but This news is likely to have a big impact on gold, so we need to pay attention to orders when the news comes out According to technical analysis, October is a month of strong growth for gold. On the monthly chart, histogram and stochastic have a divergence, RSI does not see a divergence. Yesterday gold broke through the upward price channel so our trend will be to sell and the H1 stochastic frame is already in the oversold area so it is likely that gold will have a rebound to 1990, the price range from 1990-1992 we can sell stochastic The H4 frame still tends to go down, so the possibility of gold decreasing is very large
OANDA:XAUUSDShort
by TheForexFamily
XAUUSD amid rising political tensions Gold prices (XAU/USD) hovered around $1,950 after retreating from the two-month high of $1,962 in early Asian trading on Thursday. The precious metal's rebound was bolstered by escalating political tensions in the Middle East, driving the flow towards safe-haven assets. Meanwhile, the US Dollar Index (DXY), measuring the USD against six major currencies, rose to 106.55. US Treasury yields surged, with the 10-year Treasury bond yield reaching 4.911%, the highest since 2007, while the 2-year Treasury bond yield remained at 5.229%. On Wednesday, Federal Reserve officials reiterated their stance on maintaining interest rates. These comments pushed US bond yields higher, reflecting strong growth prospects in the US. Federal Reserve Governor Christopher Waller stated that it's too early to determine if there's a need for further policy rate actions, suggesting a wait-and-see approach. New York Fed President John Williams emphasized the central bank's need for a gradual monetary policy to curb inflation, indicating that the policy trajectory depends on data. Moreover, the ongoing political conflict between Israel and Hamas remains a focal point. Gaza authorities reported Israeli airstrikes killing 500 people at a Palestinian hospital on Tuesday, while Israel claimed the casualties resulted from a Palestinian attack. Escalating political tensions in the Middle East and market instability might drive demand for traditional safe-haven assets like gold. Gold traders will monitor the US Unemployment Claims and Philly Fed Index, as well as Existing Home Sales data later on Thursday. Additionally, Fed Chair Powell is expected to deliver a speech. Market participants will interpret signals from the data, seeking trading opportunities around gold prices.
OANDA:XAUUSD
by Samson_Phelan
9
Gold prices have adjusted after a series of increases last week.OANDA:XAUUSD The price of gold (XAU/USD) is experiencing a remarkable surge on Friday due to escalating geopolitical tensions in the Israel-Palestine conflict. In times of uncertainty, traders are turning to the precious metal as a safe haven, while the US dollar (USD) is also strengthening. The escalation of the conflict in Gaza has led Israel to shift its focus from aerial to ground operations, causing an increase in geopolitical tensions and strengthening safe-haven assets. The worsening consumer sentiment in the United States and the dovish comments made by Philadelphia Fed President Patrick Harker have added pressure to US Treasury yields.
OANDA:XAUUSDLong
by Basil_Trading
XAUUSD DOWNTREND CORRECTION STARTED 08.10.23Reason Behind the XAUUSD Bullish Setup 1. Fake candlestick Formation due to Obey of trendline and support @ 1810 2. Double Candlestick Confirms Half Confimations Bullish Engulfing and make the higher Movement 3.Three strike Line formed in trible candlestick and make Bull Movement 4. Hikake Bullish Setup takes the XAUUSD to Higher and breaked 1925 5. Decending Broadaning Formed and push the correct over the trend line @ 1900 Overall Possible Outcomes XAUUSD BUY @ 1810-1825 SL 1780 TP 1 1860 TP 2 1880
OANDA:XAUUSDLong
by kripsonfx97
1
XAUUSD: what is going on?From a short-term technical perspective, nothing seems to have changed for Gold price, as a correction from a seven-month trough remains on the table. The 14-day Relative Strength Index (RSI) indicator stays heavily oversold, justifying a case for a Gold price rebound anytime soon. Should Gold price stage a decent comeback the initial support-turned-resistance at the $1,850 level will be challenged. The next upside barrier is aligned at the September 28 and 29 highs of $1,880 on the road to recovery. However, if Gold buyers fail to find a strong foothold above the $1,850 mark, the downtrend could gather steam once again. Gold price will need to crack the previous day’s low of $1,815 to tale on the crucial support at the $1,810 level, where the March 8 low is registered. The $1,800 threshold will be the level to beat for Gold sellers. The 100-Daily Moving Average (DMA) is looking to cross the 200 DMA from above, suggesting that any pullback in Gold price from multi-month lows could prove temporary.
OANDA:XAUUSDLong
by Biden-ControlUSD
1
U.S. stock futures slide as Treasury yields hit new cycle peakU.S. stock futures fell early Tuesday due to concerns over rising Treasury yields and the ongoing property sector crisis in China. On Monday, the Dow Jones Industrial Average rose by 43 points (0.13%), reaching 34007, while the S&P 500 increased by 17 points (0.4%) to 4337, and the Nasdaq Composite improved by 60 points (0.45%) to hit 13271. The 10-year Treasury yield, an important benchmark, reached its highest level since 2007 at nearly 4.57% early Tuesday. This rise is driven by expectations of the Federal Reserve taking a more aggressive stance on interest rates. Some Fed officials have recently suggested the need for rate hikes and maintaining them at higher levels for a while. JPMorgan Chase CEO Jamie Dimon warned that if inflation isn't controlled, the market might not be prepared for potential interest rate hikes to 7%. The increase in Treasury yields has posed challenges for riskier assets, especially long-duration stocks. The U.S. dollar index reached its highest point in about ten months, surpassing 106. This is due to higher Treasury yields compared to other countries, which could potentially impact U.S. equities by reducing the competitiveness of multinational companies. The crisis in China's property sector is also causing global market unease. Shares in China Evergrande plummeted after the company failed to make a debt payment, leading to the arrest of former executives. As a result, Hong Kong's Hang Seng index dropped by 1.4%, reaching its lowest point since November. Some economic data releases for Tuesday include the S&P Case-Shiller home price index for July at 9 a.m. Eastern, August's new home sales, and September's consumer confidence figures at 10 a.m. Federal Reserve Governor Michelle Bowman is also scheduled to deliver a speech at 1:30 p.m.
OANDA:XAUUSD
by MilanTaMi
2
Gold price increased in the Asian and European trading session🍀Gold price trades higher around $1,930 a troy ounce, rebounding from the losses registered in the previous week. The pullback in the USD is providing support in strengthening the prices of Gold, which could be attributed to the lower likelihood of the US Fed keeping interest rates unchanged in the upcoming September. 🍀Gold price increased in today's Asian and European trading session. continuously increased from 1919 price after opening to 1930. We can wait to catch a rebound from gold 🍀Interesting knowledge about trading Trading is not as interesting as many people think. Trading is a boring job! With repeated actions that are not allowed to bring emotions into it!
OANDA:XAUUSD
by Mars_Hunter
3
Gold price suddenly decreased slightly today. Why ?Hello dear traders! Nice to see you all again to explore and discuss today's market! Currently, the gold price has had a slight decrease from the previous session after reaching a peak of $ 1,952.79 / ounce, the highest this month, then falling to $ 1,936 / ounce. Gold is expected to see significant changes ahead of the Federal Reserve's upcoming monetary policy meeting on September 19-20, I expect gold prices to continue to receive strong support. . Wishing you successful and effective trading endeavors.
OANDA:XAUUSDLong
by Mars_Hunter
6
Gold price today August 31: Gold reached a 3-week peakGold prices are rising and reaching a 3-week high of 1935 USD/ounce after a series of lower-than-expected US economic data. ADP's national employment report for August only increased by 177,000 jobs, compared with expectations for an increase of 200,000 jobs. According to experts, the US stock market is trending up. The sentiment of overseas traders and investors has improved, as China continues to implement measures to stimulate the economy, which are positive factors for gold prices. Short trading plan: Sell Gold 1953-1955 SL 1960 Plan nonfarm Buy Gold 1933-1935 SL 1928 Sell gold 1965-1967 SL 1973
OANDA:XAUUSD
by Mars_Hunter
1
GOLD sideway waiting for Jackson Hole During the Asian session on Friday, gold prices faced challenges in maintaining their streak of success, hovering around $1,915 per troy ounce. The current focus is on the recovery of the precious metal after experiencing losses over the past four weeks. This anticipation stems from an upcoming speech by Jerome Powell, Chairman of the US Federal Reserve, at the Jackson Hole Symposium. Despite a stronger US Dollar (USD), gold has displayed resilience due to conflicting discussions within the Fed at Jackson Hole and a recent decrease in bond yields from United States treasury. Additionally, recent economic data from the United States has played a role in supporting XAUUSD's stability amidst these circumstances. You can set up a SELL order around the price zone 1923-1925. SL 1930. Have a nice day
OANDA:XAUUSDShort
by Mars_Hunter
3
GOLD sideway waiting for positive signsGold price remains well above key short-term support around $1,897, including one-week Fibonacci 38.2%. Also, setting a solid floor for XAU/USD is a convergence of the 5-DMA and the previous monthly low, around $1,905. It is worth noting that the one-day 161.8% and 61.8% one-week Fibonacci join S2 one day of the Pivot Point to add strength to the $1,905 support. Meanwhile, the one-day 61.8% Fibonacci, the Bollinger middle band above the one-hour high and the previous weekly high together limit the Gold Price's immediate upside near $1,920. In the event that the bulls break through the $1,920 barrier, Gold Price will rally towards the one-week 161.8% Fibonacci match, the one-day R3 of the Pivot Point and the 4-hour 200-SMA, near $1,937. can be excluded.
TVC:GOLD
by Mars_Hunter
XAUUSD BEARISH SPINNING TOP + SELL PROJECTION 27.08.23Reason Behind the Sell Projection 1. Market Clearly on Strong Downtrend.The Bearish Spinning Top candle Stick Pattern Confirms the further Sell Movement towards 1890 which last week Low 2. Fibo retracement Indicator indicates the assset reach the swing High 1924-1930 and then Make continuation of trend 3. Breaked the support @ 1915 and retesting teh area Again Over all Possible Outcomes XAUUSD SELL @ 1924-1930 SL 1955 TP1 1900 TP 1854
FX:XAUUSDShort
by kripsonfx97