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Gold analysis on Monday: 2660-2670 tests pressureGold analysis on Monday: 2660-2670 tests pressure As shown in the figure: Last week, gold experienced a big market of long and short double kills. On Monday, the Asian session continued to increase the market, which once pulled the gold price above 2650. The gold trend completely returned to the range of fluctuations: 2620-2670 Today, as the US session is about to open, gold focuses on testing: the pressure around 2660-2670. Without the boost of major news events, our intraday trading still looks at the range of fluctuations: (2660-2620) Four-hour cycle: 2620-2660 is still the main fluctuation range at present Oscillating center: 2645-2650 (Ray A: Still the most effective support line at present) After today's Asian session trend adjustment: Gold currently stands at 2645 and accumulates momentum for fluctuations below 2660. Oscillation space: Today, it is arranged around the 2670-2620 range Still focus on: the pressure performance around 2660 Strategy: ------------------------- Long-term ideas: Bottom support: 2630-2640 Breaking pressure: 2645-2650 Upward target: 2660-2670 ----------------------------------------- Short-term ideas: Top pressure: 2660-2670 Breaking support: 2645-2650 Downward target: 2630-2620 Last week, we said that gold will usher in a large fluctuation. The trend of last Friday and this Monday is obviously a situation of long and short killing. On December 9, gold did not move in a unilateral market last week. The overall fluctuation was a few tens of dollars. The interweaving of long and short news also made it difficult for gold to break. As for the news this week, it is very scarce. There is basically no focus except for regular data. What needs to be paid attention to is the Middle East and Russia-Ukraine issues. Of course, the political situation in South Korea and France also needs to be paid attention to. On Monday (December 9), the gold price opened with a continuous roller coaster market of 20 US dollars, which shows the entanglement of the market. Now the market is also waiting for more fundamental catalysts to guide the direction. Against the backdrop of global economic and political uncertainty, the gold market may continue to fluctuate, and the operation will naturally be mainly in the range. However, as far as the current situation is concerned, since the Syrian opposition forces seized control of the capital Damascus on Sunday, and the martial law crisis in South Korea has continued to ferment. The bullish opportunities have increased. From a technical point of view, at the beginning of this week, gold will temporarily fluctuate around the moving average band. If the market sentiment continues to speculate on risk aversion, then gold may test 2660-70 again, and even 2680 is possible. If the geopolitical situation gradually eases and risk aversion does not heat up, then gold may return to the technically weak trend. Focus on the 20-day line near 2630 below, and still retain the possibility of gold returning to the 2610-00 area before the Fed's interest rate decision next week, and then make a mid-term choice based on whether the Fed will suspend the interest rate cut.
FOREXCOM:XAUUSD
by G-Janaya
Gold View On CPI weekGold price opened with a positive gap today due to geopolitical scenario but still trading under range (2620-50) , to get clear direction price need to breakout this range , we have some major data this week that going to add volatility on Intra day and can decide the next move for short term, as updated last week I am holding sell trade (Already closed multiple entries in profit last week) but still expecting more decline (technically) ; my average sell price is at 2652 and considering my SL at 2670-75(Exact stop level shared with golden Circle) range and want to book profit 2600 and below (2580,2530).
PEPPERSTONE:XAUUSDShort
by TheGoldenCircle
Gold taking support from 2620-2605 buy on dip upmove will come 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 Trailing SL (SL 27.2% )retracement Which is SL points then take Entry on Buy or Sell Trade SL - D points Which is recent High / Low mentioned in Chart is our SL TARGET - Target 1- (T1 : 38.2 %) Target 2- (T2 : 50 %) Target 3-  (T3 : 61.8%) Target 4-  (T4 : 78.6 %) Target 5- ( T5 : 88.6%) Target 6- (T6 : 100 %) Target 7- (T7 : 127.2 %) Target 8-  (T8 : 141.4 %) Target 9-  (T9 : 161.8 %) Please note:- It's working on news based and volitile market very well so exit if SL hit
OANDA:XAUUSDLong
by JaiPrakashShuklaHarmonicTrader
Gold Trend Forecast This Week (December 9 - December 13)Gold trend is unlikely to decline sharply, although the US Non Farm News was very good, Gold still bounced 264x, when it fell to the price range of 2626 - 2627. This week, there was quite a lot of news supporting Gold's increase such as: US CPI news may decrease slightly compared to expectations, creating conditions for the FED to continue to reduce interest rates. Central banks such as Canada, Switzerland and Europe ECB continue to cut interest rates next week. Although the gold market is currently quiet, this could be an accumulation period before a potential price increase. Investors need to closely monitor developments and prepare for future opportunities. The Central Bank of China announced that it had bought gold again and the war situation in Syria at the end of the week caused gold to have a gap of 15 prices this morning. Gold Price Forecast Christopher Vecchio, an expert at Tastylive, said he is neutral on the gold market. He believes that gold prices need to break through the resistance level of $2,725/ounce to create new growth momentum. Kitco forecasts that gold prices may fluctuate in the range of $2,600-2,800/ounce by the end of 2024. Factors such as the Fed's monetary policy and geopolitical tensions will affect gold prices in the coming time Good Buy Plan : Buy 2620 - 2618 SL: 2615 TP: 2635 -2642 -2655 - 2699 or even Buy 2610-2608 SL: 2604 TP: 2618 - 2642- 2699 Gold will decline to 2567.89 if it breaks 2600 (This case is quite low) Sell Plan: Sell: 2663 SL: 2668 TP: 2656 - 2652 Sell: 2688 - 2690 SL: 2673 TP: 2674 - 2666 - 2654
OANDA:XAUUSDLong
by KevinNguyen-SimpleTrade
Gold levels for next week sell on rise until 2670 not break 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 Trailing SL (SL 27.2% )retracement Which is SL points then take Entry on Buy or Sell Trade SL - D points Which is recent High / Low mentioned in Chart is our SL TARGET - Target 1- (T1 : 38.2 %) Target 2- (T2 : 50 %) Target 3-  (T3 : 61.8%) Target 4-  (T4 : 78.6 %) Target 5- ( T5 : 88.6%) Target 6- (T6 : 100 %) Target 7- (T7 : 127.2 %) Target 8-  (T8 : 141.4 %) Target 9-  (T9 : 161.8 %) Please note:- It's working on news based and volitile market very well so exit if SL hit
OANDA:XAUUSD
by JaiPrakashShuklaHarmonicTrader
Gold analysis: 2645 may usher in a V-shaped super reversalGold analysis: 2645 may usher in a V-shaped super reversal As shown in the figure: From Thursday to Friday, we experienced a big market of long and short double kills, from the sharp drop of 2656-2613 to today's V-shaped reversal, focusing on testing the pressure of the 2640-2645 range. Four-hour cycle: 2620-2660 is still the main shock range at present Shock center: 2645 (line segment A: still the most effective pressure line at present) After the adjustment of Thursday and Asian market trends: Gold currently stands at 2640, and oscillates narrowly in the 2640-2645 range. Shock space: Today, there is a high probability of a large V-shaped anti-structure around 2645, and it is bullish on 2660+ Still focus on: the pressure performance near 2645 Strategy: ------------------------- Buy ideas: Bottom support: 2635-2640 Break pressure: 2645-2650 Upward target: 2660-2680 ----------------------------------------- Short ideas: Top pressure: 2645-2650 Break support: 2640-2635 Downward target: 2630-2620-2615-2600 Today's gold ideas: As mentioned yesterday, gold will usher in greater fluctuations. The trend on Thursday and Friday is obviously a situation of both long and short kills. Everyone is waiting for today's big non-agricultural data to come out, so gold needs a big cleanup Current market analysis: 1: After a week of continuous fluctuations, many people have made money in the fluctuation range 2: If it rises directly on Thursday, it will be difficult to have new buying momentum. There are too many funds deposited around the 2640-2645 range. At this time, a thorough cleanup is needed to rush higher in the future 3: In fact, most of the Fed's data in the past week are bullish 4: The decline is very rapid, and the long liquidation action is completed quickly 5: After clearing the longs, the price comes to a low level, continue to buy the bottom, and get better chips 6: The next gold price will only be higher Target: 2650-2660-2680-2700 To sum up the above: Today's gold strategy adopts a low-long approach, completes the purchase in the 2630-2640 range and holds firmly, with a target of 2660.
FOREXCOM:XAUUSD
by G-Janaya
Gold Weakens Further as Market Awaits Fresh CatalystsGood morning, traders! In the early hours of Friday's trading session, gold continues to weaken, losing over 12 pips. This decline reflects a temporary pause from bullish investors as they seek new drivers for upward momentum. From a technical perspective, the chart shows that while long-term bullish momentum remains intact, the current pullback appears to be nearing its conclusion. Support is forming around the $2,566 zone, followed by $2,630. In the short term, gold may experience further declines as the market awaits directional clarity from news expected later in the day. On the other hand, the long-term bullish trend remains a favored bet, with key upside targets marked clearly on the chart. Happy trading, and may your trades be profitable! Don’t forget to leave a like and share your thoughts about the outlook for this precious metal. Cheers!
OANDA:XAUUSDLong
by Bo-Samson
3
Gold resuming the decline As discussed in last week posts and weekly analysis video also, price is resuming the decline cycle and seems like breaking down the rising wedge pattern, On Friday gold price tested the fib 50% level and now moving down , 2650-65 is the main resistance zone now and under this we can look for sell opportunities , today we have extreme narrow CPR which can add a very good one sided move, as I am holding sell trade from last week I am expecting a test near 2600 area first where I am planning to book profit partially from some positions because under 2600 we have weekly S1(2596) where we can expect a short bounce (but I do not want to buy as of now) and I want to hold rest of the sell entries towards 2530. If bears managed to close the day under 2600 then this can add another confirmation for more decline.
OANDA:XAUUSDShort
by TheGoldenCircle
Gold is in Range : Sell is still favourable Gold price is consolidating within the 2,620-2,650 range for the last five trading days, we have seen multiple attempts by gold on 2650 Level but failed to sustain above this level. Today also gold trading in a narrow range of 2634-2644,remaining near yesterday's closing price, On the hourly chart we can see that price is forming a tringle structure and breakout from this structure in any side can generate good move, as we are in correction so Probably, the main scenario is a continuation of the downward movement to 2620 and if breakdown from there then we can see price under 2600 soon.
OANDA:XAUUSDShort
by TheGoldenCircle
XAU/USD at Crossroads: Breakout or Pullback?XAU/USD Multi-Timeframe Analysis - 15-Minute Chart (Intraday Perspective): - The 15-minute chart highlights a series of Breaks of Structure (BOS) and Change of Character (CHoCH), signaling dynamic shifts in short-term momentum. - The latest CHoCH at the top suggests a potential exhaustion in the upward move, with sellers gaining temporary control. - Key Levels: - Support: $2,645 - Resistance: $2,656 - Conclusion: Expect consolidation or a slight pullback before any continuation of the trend. Watch for a confirmed BOS or CHoCH for clearer direction. - 1-Hour Chart (Mid-Term Analysis): - The 1-hour timeframe shows a downtrend structure transitioning into consolidation, as BOS patterns indicate bearish dominance, but CHoCH signals hint at potential reversals. - The price is currently consolidating within a range of $2,630 to $2,656, with no clear breakout yet. - Key Levels: - Immediate resistance: $2,656 - Support: $2,630 - Conclusion: A breakout above $2,656 would confirm bullish strength toward $2,670, while a breakdown below $2,630 may lead to a retest of $2,615 or lower. - 4-Hour Chart (Macro Perspective): - On the higher timeframe, XAU/USD displays macro bearish momentum, with BOS to the downside being dominant. However, the recent CHoCH highlights a potential shift into a bullish correction. - The price remains capped by the $2,656 resistance zone, with significant support around $2,630. - Key Levels: - Support: $2,615 - Resistance: $2,670 - Conclusion: The market is at a decision point. A sustained move above $2,670 could trigger bullish continuation toward $2,700, while a failure may lead to further bearish retracement. - Overall Outlook - Gold is trading within a consolidation phase, with structural shifts (BOS and CHoCH) indicating indecision between buyers and sellers. - Trade Plan: - For bullish scenarios, wait for a confirmed breakout above $2,656-$2,670 for a potential target of $2,700. - For bearish scenarios, look for rejection at resistance zones and breakdowns below $2,630 for short opportunities toward $2,615 or lower.
OANDA:XAUUSD
by EliteTradersChoudharyJI