XAUUSD UNEXPECTED BUYING TARGET 22.10 24 Reason for Bullish 1. Market strongly in uptrend with Higher high 2. Market formed Acending Triangle Patter with obeying channel 3. More confirmation by Upward Sloping Moving average XAUUSD BUY @ 2730-2740 SL 2715 TP 1 2745 TP 2 2770Longby kripsonfx97Published 3
Double Top Analysis and Prediction of Upcoming CorrectionIn the trading session last night, the market reacted to new data from the US economy, especially inflation figures related to import and export prices. The US import price index in September fell 0.4% compared to the previous month, a deeper decline than expected, indicating that inflationary pressures are easing. This signals the possibility that the Fed will continue to cut interest rates to support the economy, increasing the attractiveness of gold as a safe investment channel. Meanwhile, the export price index also fell sharply by 2.1% compared to the same period last year, reflecting the pressure to reduce US goods prices in the international market, which could boost global consumer demand in the short term. The technical analysis for the gold chart shows an important resistance level at $2,683/ounce, where gold prices have reached and failed to surpass in recent sessions. A correction is possible, if gold fails to break above this level, prices may drop to the support level at $2,600/ounce in case global economic and political volatility continues.by CallmezoeyPublished 50
Gold Prices Rise Strongly on China and India's Demand for StockOn the chart, gold prices have broken the $2,700 resistance zone and continued to rally, with the 34-EMA and 89-EMA lines pointing up, reinforcing the short-term bullish trend. Fibonacci suggests that the next resistance level could be at $2,740, followed by $2,780, corresponding to the 1.61 and 1.68 Fibonacci levels. Although gold prices may have minor corrections in the short term, the main trend remains bullish. If gold holds above $2,700, the next target will be the $2,740 – $2,780 zone. In addition, China and India's increasing gold reserves, especially in the context of preparations for festivals and traditional New Year, are an important factor driving gold prices higher. At the end of the year, gold demand in these two countries often increases sharply because gold is used as gifts and jewelry in important events. China is one of the countries with the largest gold reserves in the world, and India is the largest gold consumer, especially during festival seasons such as Diwali or Tet. This causes a sudden increase in demand for gold, putting pressure on global supply and pushing prices higher. The central banks of China and India continue to buy gold to protect the value of their foreign exchange reserves, which creates upward pressure on gold prices in the short term and may continue to push gold prices to record highs by the end of this year. In the context of strong demand for gold from major markets such as China and India, combined with technical analysis showing that the upward momentum is dominant, I predict that gold prices are expected to continue to increase in the coming time. The next important resistance level lies at $2,740 – $2,780, and any correction is a buying opportunity.by CallmezoeyPublished 59
BUY GOLDIn my opinion, I am looking to buy , which is a strong DEMAND ZONE. It is not advisable to enter without confirmation from a lower TF.Longby KnickkPublished 3
Gold : Due for correctionGold prices hit another record high during US session, yet it paused its advance amid elevated US Treasury bond yields and a strong US Dollar (But gold ignored the DXY move completely in last week). On daily close as per price action we can see a gravestone doji which can open door for correction. So for today the plan is to sell under last day high , we can sell near CPR area(2722-2727) or wait for pullback to daily R1(2735) for possible sell opportunities, On lower side as you can see that price is currently in over elevated region and price did not tested the weekly pivot(2694) , so first we can expect a test at weekly pivot for this correction and then we have to watch how price going to react there .Shortby iambalramkashyapPublished 3
Gold Trend 21/10Gold prices exceeded our expectations last week. They broke above the previous high of 2685 without any influence from major economic data or news, closing the week at a new high of 2722 before the weekend. Early last week, gold prices continued to carry the upward momentum from the US inflation data from the previous week, jumping to the resistance at 2670. Although it was not a major market focus, weak US manufacturing data on Tuesday led to a technical breakout of the descending resistance line(1), triggering a round of buying that quickly pushed prices to the previous historical high of 2685. After the ECB chopped the 0.5% rate and the release of US retail data on Thursday, the gold price cleared the resistance from the previous high of 2685, where the buying momentum carried on until Friday's market close. As the Asian session opened on Monday, funds continued to flow in, so far no clear signs of a reversal yet. Last week, the gold market shook off the influence of the US rate cut and the recent geopolitical factors, and the overall investment market is gradually being driven by the upcoming US election and its associated uncertainties. With the current market condition, "Trump trade" or not, the gold market, US stocks market, or cryptocurrencies, will be relatively bullish before the election date. 1-hr chart (above) > The upward trend is still accelerating, shifting from last week's trend line (3) to a faster pace at (3.1). With gold prices hitting new highs, there are no previous prices to use as references. In the S-T, watch out for the round number of 2750; and a 1:1 projection from the previous week's high/low range (4), with a target around 2765 (4.1). Daily Chart > Gold prices broke through the key resistance at 2685 last week (5), reigniting the upward trend. The daily chart has not shown any reversal signals yet, so in the S-T, watch for resistance around 2750 near the upper resistance of the uptrend channel(6). by 1uptickPublished 3
gold spot crucial update edu pur.gold spot now broken 2700 or fireddd now have to eyes 2700$ if hold abv than nxt up side move 2722--30 than after 2745$ possible where support 2690$ only blw looks some downward correction till 2684--80$ over all looks still up side due to speculator or middle east tension--- yes intrday base blw 2713 looks dwn ward correction 2705--2702-2695$by kailashcfa33Published 115
Gold Approaches Important ResistanceMy analysis of the global gold chart on the 4-hour time frame shows that the recent rally has brought the price close to the important resistance zone at $2,702. With this rally, the price has now surpassed both the 34 and 89 EMAs, which is a positive sign for the bullish trend. However, it should be noted that when approaching this resistance zone, the price may encounter strong selling pressure, which could lead to a correction to the downside before continuing the uptrend. If the price bounces back from the current resistance zone, the next support target could be $2,660, an area that has previously supported the price during rallies. Any macroeconomic developments should also be closely watched, as they could significantly influence the price trend of gold.by CallmezoeyPublished 60
Short Term Support Zone. Gold (XAUUSD) is experiencing a bullish move today, trading around $2,657 as of October 17, 2024, reflecting a gain of 0.91%. The price action remains volatile, influenced by geopolitical tensions and expectations of upcoming U.S. economic data. The broader trend shows gold consolidating within the $2,636 - $2,675 range. If it breaks above $2,670, strong resistance may push prices towards the $2,685 level, though a correction remains likely if bearish sentiment strengthens. Key drivers include anticipation around U.S. inflation data and global market uncertainty, which are likely to continue influencing gold's trajectory. For short-term trading, watching the $2,654 support level is crucial for assessing potential downward moves. Longby XAUUSDANALYSTPublished 3
Gold breakout came 2773-2784 1st Target support 2715 Disclaimer - This information is only for educational purposes, this is not for any buy or sell recommendations . On Our Harmonic pattern indicator based trade setup take trade as explained below :- ENTRY - When price breaks 30% retracement Which is D points then take Entry on Buy or Sell Trade SL - SL is (-3%) Which is mentioned in Chart . our SL is just above or below of Recent high or Low . TARGET - Target 1- (T1 : 61.8 %) Target 2- (T2 : 88.6 %) Target 3- (T3 : 127.2 %) Target 4- (T4 : 161.8 %) Please note:- It's working on news based and volitile market very well so exit if SL hitLongby JaiPrakashShuklaHarmonicTraderPublished 3
Gold Price Rises Strongly Thanks to Geopolitics and Fed PolicyOn the chart, gold price has broken out of the resistance level at the $2,700 area and continues to maintain its upward momentum. The upward sloping trend line and the support of the EMA 34 and EMA 89 are further consolidating this trend. The possibility of gold continuing to move towards higher resistance levels is high. Geopolitical factors from the Middle East, especially the tension between Hezbollah and Israel, are boosting the safe-haven demand for gold. At the same time, the monetary policy from the US Federal Reserve (Fed) with the possibility of cutting interest rates in November is also the main driver for gold to continue to grow. In general, with a positive technical trend and support from macro news, gold prices are likely to continue to increase in the coming time.by CallmezoeyPublished 47
Strong Delta Formation @ previous support zoneToday, gold prices are undergoing a correction after reaching an all-time high of $2,708.70 on October 1, 2024. As of today, the price has dropped to around $2,640.60, marking a decline due to several influencing factors. The primary economic factor driving this correction is the strength of the U.S. dollar, which has become the preferred safe-haven asset amid ongoing geopolitical uncertainties. Additionally, shifting expectations around Federal Reserve interest rate cuts have influenced gold prices. While markets initially expected a 50-basis-point cut in November, current projections favor a smaller 25-basis-point cut. This change reduces the appeal of non-yielding assets like gold, leading to price declines. However, despite this pullback, many analysts remain bullish on gold in the medium to long term. The underlying factors supporting gold's recent rally, such as economic uncertainty, geopolitical tensions, and inflation concerns, are still present. As such, any further weakening could present buying opportunities for investors looking to re-enter the market.Longby XAUUSDANALYSTPublished 3
GOLD | XAUUSD Chart PatternGold has been in a good uptrend in every new session it makes new all time high so at this point i think we should wait for pullback and then enter to gain profit , 2716-2713 is the good support zone if price is rejected at this zone then we should go long , wait for candlestick pattern for better entry.Longby NobleFalconPublished 5
Short Term Gold Correction/profit booking/ Short Covering ExpectGold has been rising steeply from 2635 till 2745 strongly without breaching once the trend line created. This is not usual activity. The Political equilibrium which is totally disturbed due to war zone created between middle east, is at core to boost the reason for gold to spike up !. On the contrary, if the gold rally has to survive the gold rally ok 105$ and counting up has to book certain profits and halt its upward trajectory. Several factors can contribute to a steep upward rally in gold prices. These include: Geopolitical Tensions: Conflict, war, or heightened global political instability can push investors towards gold, a traditional safe-haven asset. Any uncertainty can lead to a surge in demand for gold, driving up prices. Inflation: When inflation rises, the value of fiat currencies tends to erode. Investors turn to gold as a hedge against inflation, increasing demand and boosting prices. Interest Rates: Lower interest rates tend to drive gold prices higher, as the opportunity cost of holding non-yielding assets like gold decreases. Central bank decisions to cut rates or maintain loose monetary policies can trigger gold rallies. Currency Fluctuations (USD): Since gold is priced in U.S. dollars, a decline in the dollar's value often results in higher gold prices. A weaker dollar makes gold cheaper for holders of other currencies, increasing demand. Economic Data: Poor economic data, such as weak employment figures, low GDP growth, or decreased consumer confidence, can spur gold buying as investors seek stability. Central Bank Gold Purchases: When central banks increase their gold reserves, it can signal confidence in gold as a store of value, leading to higher prices. Large-scale purchases can directly impact market demand. Stock Market Volatility: When equity markets experience significant downturns or volatility, investors often flock to gold as a defensive asset, leading to price rallies. Financial Crises: During times of global financial instability or banking crises, gold becomes a go-to asset for investors seeking safety, contributing to strong price rallies. Supply Constraints: Limited mining output or disruptions in gold supply (e.g., due to strikes, political issues in mining regions) can contribute to higher prices if demand remains strong. Speculative Demand: Traders and speculators can drive prices higher in anticipation of the above factors, especially in times of uncertainty or market panic. Shortby XAUUSDANALYSTPublished 2
Gold support 2655-2645 resistance 2687 ,2707,2725 Disclaimer - This information is only for educational purposes, this is not for any buy or sell recommendations . On Our Harmonic pattern indicator based trade setup take trade as explained below :- ENTRY - When price breaks 30% retracement Which is D points then take Entry on Buy or Sell Trade SL - SL is (-3%) Which is mentioned in Chart . our SL is just above or below of Recent high or Low . TARGET - Target 1- (T1 : 61.8 %) Target 2- (T2 : 88.6 %) Target 3- (T3 : 127.2 %) Target 4- (T4 : 161.8 %) Please note:- It's working on news based and volitile market very well so exit if SL hitLongby JaiPrakashShuklaHarmonicTraderPublished 3
All eyes on GoldAs discussed in yesterday's update gold is still looking good to more higher and gold is following that statement perfectly , as you can see on hourly chart after a small pullback in yesterday trading session gold price took support at weekly pivot (2640) and after that price moving in higher side, for today also the CPR relation is positive and gold price is taking support on CPR area and we can expect continuation in higher side , weekly R1 is at 2677 and at that level we can expect another small pullback and then price can continue in higher side towards 2685 or higher level, there is no sign of good reversal so we have to wait for higher levels for any selling opportunities , the only limiting factor that currently stopping the gold bulls is strong dollar Index chart, but I think DXY is also due for correction which can help gold bulls to make a good move in higher side : overall the scenario is still favourable for buying on Intraday .Longby iambalramkashyapPublished 112
XAUUSD buying after sweepOANDA:XAUUSD looking for buy after the sweep of liquidity pool of downside .. after sweep is done look for reversal candle or pattern..dont make fomo decision ..Longby rashidrashid5642Published 2
Gold as expected upmove continue 2773-84 resistance 2699 supportDisclaimer - This information is only for educational purposes, this is not for any buy or sell recommendations . On Our Harmonic pattern indicator based trade setup take trade as explained below :- ENTRY - When price breaks 30% retracement Which is D points then take Entry on Buy or Sell Trade SL - SL is (-3%) Which is mentioned in Chart . our SL is just above or below of Recent high or Low . TARGET - Target 1- (T1 : 61.8 %) Target 2- (T2 : 88.6 %) Target 3- (T3 : 127.2 %) Target 4- (T4 : 161.8 %) Please note:- It's working on news based and volitile market very well so exit if SL hitLongby JaiPrakashShuklaHarmonicTraderPublished 3
Gold until 2668 not break buy on dip 2715,2728 Target Disclaimer - This information is only for educational purposes, this is not for any buy or sell recommendations . On Our Harmonic pattern indicator based trade setup take trade as explained below :- ENTRY - When price breaks 30% retracement Which is D points then take Entry on Buy or Sell Trade SL - SL is (-3%) Which is mentioned in Chart . our SL is just above or below of Recent high or Low . TARGET - Target 1- (T1 : 61.8 %) Target 2- (T2 : 88.6 %) Target 3- (T3 : 127.2 %) Target 4- (T4 : 161.8 %) Please note:- It's working on news based and volitile market very well so exit if SL hitLongby JaiPrakashShuklaHarmonicTraderPublished 3
GOLD SHORT !!we can see QM area on 15m time frame and the price turn down from daily resistance get ready for dropShortby asmarfalltaPublished 3
Gold Gap Closing Forecast Amid Economic FluctuationsIn the recent gold chart, we can observe a bearish gap between the $2,660 and $2,645 levels. To close this gap, gold needs to rise by about $15 from the current level to $2,660. This move is not only a reflection of market fluctuations but also depends on macroeconomic factors. Currently, the latest economic indicators from the US, especially the consumer price index (CPI) data, show a softer-than-expected inflationary pressure. This may prompt the US Federal Reserve (Fed) to continue its accommodative monetary policy, which could weaken the USD and support gold prices. In addition, the global economic situation also plays an important role. For example, if the economic situation in China - the world's second largest economy - continues to show signs of deterioration, demand for safe-haven assets such as gold could increase.by CallmezoeyPublished 73
XAUUSD’s Final Wave Completion – What’s Next?XAUUSD has formed a corrective pattern on the hourly chart, offering a potential breakout setup. The correction has spanned over two weeks, during which the price has frequently crossed the EMAs (50/100/200 ) on the hourly timeframe. Meanwhile, the 20 EMA has consistently acted as solid support on the daily timeframe. The pair has completed its final wave 5 of wave (C) at 2604 and has since started to rise sharply. Currently, XAUUSD faces a strong resistance level at 2670 , which marks the high of wave (B). If the price breaks above 2670 , traders can target the following levels: 2685 - 2715 - 2735 +. If the breakout fails, the correction may continue, as 2670 is the key hurdle for the bulls to overcome. Further updates will follow soon.by Trade-TechniquePublished 1136
BUY GOLDIn my opinion, I am looking to buy , which is a strong DEMAND ZONE. It is not advisable to enter without confirmation from a lower TF.Longby KnickkPublished 112