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XAUUSD trade ideas

GOLD--> Local trend changing? Will it rise to new ATH?Hi guys, OANDA:XAUUSD after a false breakout at 2700, the price has returned to a correction phase, aiming to consolidate its potential for continuing the trend. In the current situation, the fundamental backdrop is shifting in favor of the metal, which active buyers are pursuing... Gold has not reacted significantly to the previous rally of the dollar, despite hawkish signals from the Fed. The reason for the metal's rise lies in the escalation of tensions following the UK and US allowing Ukraine to use weapons to strike deep into Russian territory. Russia responded with stronger attacks afterward. Fundamentally, these actions make gold a safe haven choice for protecting assets. This week, due to the Thanksgiving holidays in the US, trading volumes are expected to fluctuate sharply at the beginning of the week. Technically, it is predicted that the precious metal could update its ATH this year. However, short-term levels ahead need to be monitored closely. Specifically: Support levels: 2685, 2675, 2650 Resistance levels: 2711, 2733, 2750 Nonetheless, the upcoming resistance levels must be observed, as they are likely to trigger the next move for the metal. The adjustment toward the nearest liquidity zones is expected, but we are not talking about a reversal. The correction could end quickly, and the price is likely to return to an upward phase. The medium-term target is 2731-2750...
OANDA:XAUUSDLong
by Bo-Samson
3
Gold at Resistance : A sell opportunity ?Yesterday, gold traded higher and closed the day in the positive territory . Today, Gold price climbs extending its gains for the fourth straight day. On the Intra day chart, Gold is now trading above weekly Resistance 1 (2653). Technically price is at resistance area and trading near to Fib golden zone , this area is perfect reversal zone but the geopolitical evens (War) currently pushing the price higher , for sell we need good confirmation from these resistance area. Today Initial Jobless Claims are expected to rise from 217K to 220K for the week ending November 16 and that can add volatility so we have to watch the reaction accordingly. Selling seems to be more favourable now for Intra day and for buy we have to look for lower levels but selling need to be assessed with good money management as gold is currently getting safe-haven demand for buyers.
OANDA:XAUUSDShort
by TheGoldenCircle
New Gold Mine in China: Aftershocks in the Gold MarketWhen analyzing the daily gold chart, I noticed that a long-term uptrend has been reversed with a clear break below the rising channel line. This tells me that the market may be preparing for a new bearish phase. This decline occurred even as there was news from the US and other major economies on inflation and monetary policy, which would normally have a strong impact on gold prices. In addition, China's discovery of a gold mine with estimated reserves of over 1,000 tonnes in Hunan province is not only a geological event but could also be a major mover in the global gold market. With gold prices failing to hold the 34 EMA and falling further, the next support area I see is around $2,520 to $2,560/ounce. This will be a key point to see if gold will continue its downtrend.
OANDA:XAUUSD
by Maria_aaa
Gold Trading Strategy for 26th November 2024Gold Trading Strategy: Buy Above 2,644 / Sell Below 2,615 Current Price: 2,625.00 USD Key Levels: Buy Signal: If the price closes above 2,644 on the one-hour candle, it indicates an upward momentum, suggesting a good time to consider buying. Sell Signal: If the price closes below 2,615 on the one-hour candle, it suggests a downward momentum, indicating it might be a good time to consider selling. Support and Resistance Levels: Resistance: 2,660 and 2,679 Support: 2,600 and 2,580 Recommendations: Buy: If the price sustains above 2,644 on the one-hour candle close, consider entering long positions. Book partial profits at 2,655 levels or use a trailing stop loss to protect your profit, with targets at 2,660 and 2,679. Sell: If the price breaks below 2,615 on the one-hour candle close, consider short positions. Book partial profits at 2,600 levels or use a trailing stop loss to protect your profit, with targets at 2,595 and 2,580. Disclaimer: This analysis is for educational purposes only. Always trade with stop-loss and trailing stop-loss to protect your profit and limit your loss. Buy only above the high of the one-hour candle close and sell below the low of the one-hour candle close. Please conduct your own analysis before making any trading decisions.
OANDA:XAUUSD
by ramkkyy
Gold's (xauusd) perspective for starting the week Key Observations: Ascending Channel: Gold is trading within a well-defined upward channel. The recent rejection near the upper boundary confirms resistance at higher levels. Pullback Underway: The price has shown a pullback from the highs and is approaching the internal trendline around $2,642, which could act as interim support. Major Support Zone: The key support zone lies between $2,500-$2,550, coinciding with the lower boundary of the channel. This area is crucial for maintaining the bullish structure. Expected Movement: The price may first retest $2,642, followed by another drop to the $2,500-$2,550 support zone. A bullish bounce from this zone would reaffirm the long-term uptrend. Bearish Scenario: A break below the $2,500 support zone could invalidate the ascending channel, exposing gold to deeper declines.
OANDA:XAUUSD
by Trader-Kenias
Gold Trend 25/11 - Expect 2nd round of profit taking above 2700Technical rebound + Russia/Ukraine situation rapidly deteriorated, causing gold prices to rebound strongly over $150 last week. Following the rebound from the week before, the gold price opened at 2562 and quickly reached our target of 2620 early last week. Russia and Ukraine exchanged missiles and Putin eased the conditions for the use of nuclear weapons, boosting the gold price further. By the end of the week, the gold price reached the weekly high of 2715 as the market priced in the risk premium right before the weekend. The gold price retreated sharply back from the weekend, falling to as low as 2658 in the Asian secession on Monday. We can expect the investment market to be relatively quiet this week as Thanksgiving weekend is approaching. Geopolitical situations will continue to dominate the gold trend this week. Since the gold price has surged over 20% from the beginning of the year, as long as the situation in Ukraine does not intensify, the price above 2,700 should be a good opportunity for institutional funds to seize profits from the beginning of the year before the year's end. 1-hr chart (above) > Gold price has entered a horizontal range pattern after it crossed the downward trend resistance line (1) last week. Take advantage of the 2650-2710(2) for now, and pay close attention to the development of the situation in Russia/Ukraine, the market may price in the risk premium once again before the Thanksgiving long weekend! Daily chart (above) > The rapid correction in the Asian session on Monday is causing a reversal signal to appear on the daily chart(3). Wait for the price to close below 2670 on Monday, once the reversal signal is completed, the price should return to 2600 or lower in the next two weeks. Please give us a 🚀 if you like our work! P.To
TVC:GOLD
by 1uptick
Analysis of gold trend on November 25Analysis of gold trend on November 25 1. Market overview On Monday in Asia, gold prices experienced a sharp correction, falling by more than $60 during the day, hitting a low of $2,658. Gold's closing price last Friday was around $2,715. It reached as high as $2,720 at the opening today, but then suffered a strong sell-off, creating greater downward pressure. The current pullback is mainly affected by the uncertainty of the situation in the Middle East, especially the discussion between Hezbollah and the United States and Israel on the 60-day armistice agreement. Although a deal is close, market sentiment remains cautious, with the gold market reflecting this uncertainty, leading to increased price volatility. 2. Technical analysis price trend Gold prices have retreated from a high of $2,715 to the current $2,658, forming a more significant downward trend. From the technical chart, gold prices are still in the head and shoulders bottom pattern formed on the 4-hour chart. This pattern usually indicates that the market may reverse upward. However, the left shoulder and head position of the head and shoulders bottom pattern have been confirmed, but the construction of the right shoulder part is still in progress. Future trends need to focus on the support near $2,650. support and resistance Support level: Gold's current key support level is near $2,650, which is determined based on the 618 retracement level of gold's rise from $2,535 to $2,720. In technical analysis, the 618 retracement is considered a strong support area. If the price can stabilize above $2,650, gold may still continue its upward trend. Resistance level: Upside resistance in the short term lies in the $2,715-2,720 area, and if gold prices can break above this level, it may continue to test higher price ranges. However, the current short-term decline remains under pressure, so caution is needed before breaking out of this range. Pattern Analysis The current gold price trend has formed signs of a head and shoulders bottom. Despite gold’s pullback from $2,720 to the current level of $2,658, the 4-hour chart still shows the potential to form a right shoulder. If gold prices can find support near $2,650 and stabilize upward, this pattern could develop further and become a bullish reversal signal. 3. Operation suggestions According to current technical analysis, the key support level for gold prices is near $2,650. This position determines whether gold can continue its upward momentum in the short term. Operational suggestions: Long strategy: If the price of gold can stabilize above US$2,650, it is recommended to consider entering long positions near 2,650. The target price can focus on the short-term resistance range of US$2,715-2,720. Stop loss setting: In order to control risks, if the price of gold falls below the support level of $2,650, stop losses should be considered to avoid greater downside risks. Short selling strategy: If the price of gold continues to decline below $2,650 and falls below the important support range, you can consider a short-term short-term strategy, with the target looking at the support area near $2,610-2,600. 4. Summary The current gold market has formed a key support level near $2,650, and there is still upside potential on the technical front. If gold can hold above $2,650 and break through short-term resistance, it may continue to move higher, forming a complete reversal of the head and shoulders bottom pattern. However, if the price falls further below $2,650, there are still downside risks in the short term. Investors should pay close attention to the break of the $2,650 support level and adjust their operating strategies accordingly.
PYTH:XAUUSD
by GoldNest_by_Lovewell
1
Will gold continue to rise strongly next week? Review of recent trends: The gold market showed a significant reversal this week. Following last Friday's consecutive negative declines, gold prices rebounded strongly this week, rising for five consecutive days and quickly recovering lost ground. After falling from 2710 last week to 2536, prices rose again this week, indicating that market sentiment is changing rapidly, especially driven by geopolitical factors. Fundamental impact: Geopolitical tensions: The Russia-Ukraine conflict and the escalation of tensions on the Korean Peninsula are key factors driving the rise in gold, and rising demand for safe havens is the main driving force behind the surge in gold prices. Korean Peninsula: North Korean leader Kim Jong-un said he currently faces the risk of nuclear war, which intensified the market's risk aversion and pushed gold prices higher. If these uncertainties continue to ferment, gold may break through the $2,800 mark before the end of the year. Technical analysis: Daily K-line chart: A golden cross appears on the daily chart, which is a typical bullish signal and there is still room for growth in the short term. Five consecutive positive lines indicate that bulls have strong momentum, and the price has broken through the central axis of 2690, and may continue to test higher prices upwards. 4 hour chart: The trend shows a stepped slow bull shape, with shocks running upward. Both Stochastic and MACD are in golden cross status, showing continued upward momentum. Key pressure ranges: 2750-2760, 2790. If these pressure levels are exceeded, gold prices may rise further. Support range: 2700-2690. If the price pulls back here, strong support may be formed. Operation strategy: Retracement to go long: If the gold price pulls back to around 2710, you can consider going long, with targets at 2728, 2740, and 2756. Shorting on rebound: If the price rebounds to 2728, 2740, 2756, etc., you can go short in these areas. Support zone operation: If the price falls back to around 2706, 2700, and 2692, you can go long in batches and use the support level to find entry opportunities. Outlook for next week: Gold's short-term trend remains bullish, especially on the technical front, with a golden cross and upward momentum showing the potential for continued gains. In terms of fundamentals, geopolitical risk factors still have a greater impact on the market, and gold is expected to continue to be the first choice for safe-haven funds. The key price ranges for next week are: support level: 2700-2690; pressure level: 2750-2760, 2790. If it breaks through to the upside, gold may challenge the high of $2,800. In general, the short-term trend of gold next week is bullish, but we also need to be wary of price shock adjustments near key pressure levels.
PYTH:XAUUSD
by GoldNest_by_Lovewell
Gold Trading Strategy for 25th November 2024Gold Trading Strategy: Buy Above 2,725 / Sell Below 2,694 Current Price: 2,716.335 USD Key Levels: Buy Signal: If the price closes above 2,725 on the one-hour candle, it indicates an upward momentum, suggesting a good time to consider buying. Sell Signal: If the price closes below 2,694 on the one-hour candle, it suggests a downward momentum, indicating it might be a good time to consider selling. Support and Resistance Levels: Resistance: 2,750 and 2,766 Support: 2,684 and 2,662 Market Analysis: The current price is around 2,716.335 USD, indicating potential for both bullish and bearish activity based on the key levels. Pay close attention to the range between 2,694 to 2,725 for support and resistance levels. Recommendations: Buy: If the price sustains above 2,725 on the one-hour candle close, consider entering long positions. Book partial profits at 2,735 or use a trailing stop loss to protect your profit, with targets at 2,750 and 2,766. Sell: If the price breaks below 2,694 on the one-hour candle close, consider short positions. Book partial profits at 2,785 or use a trailing stop loss to protect your profit, with targets at 2,680 and 2,662. Disclaimer: This trading strategy is for educational purposes only and does not constitute financial advice. Trading in financial markets, including gold, carries a high level of risk and may not be suitable for all investors. You should carefully consider your investment objectives, level of experience, and risk appetite before making any trading decisions. Always conduct your own research and seek advice from a qualified financial advisor before investing. Past performance is not indicative of future results.
OANDA:XAUUSD
by ramkkyy
Gold : The fundamental context and goals have both changedOANDA:XAUUSD The breakout of the local downtrend channel has disadvantaged sellers. The fundamental background is changing, despite continued USD buying and the prevailing risk-off environment, which overall favors gold as a safe-haven asset during times of crisis. The stronger USD, supported by the ongoing "Trump trade" rally, and US bond yields have rebounded across various maturities. Despite the optimism around the USD, gold prices remain resilient and benefit from escalating geopolitical tensions between Russia and Ukraine. Therefore, gold prices are likely to continue their growth in the near term before today’s scheduled news (PMI)... However! Since this is pre-news before session closing, reactions may consolidate for sellers before further strengthening. Technically, gold has every opportunity to retest the boundaries of the previously broken channel. However, based on fundamental news and technical factors, we can conclude that further growth may continue. Prices are heading toward a liquidity zone, from which a correction may occur, followed by expected further strengthening in the near term. But in any case, I prioritize and consider buying upon a clear breakout of gold at 2686 - 2700, targeting the medium-term highs as outlined on the chart.
OANDA:XAUUSDLong
by Bo-Samson
Gold Rebounds Strongly After US ElectionThe current chart shows that gold has made an impressive recovery after two consecutive weeks of losses, with a clear increase, marking an increase of $135/ounce in the past week. This comes amid a gradual replacement of the pessimism following Donald Trump's election victory by renewed optimism among traders and experts. Through chart analysis, it is clear that gold is in a strong recovery process. The short-term EMA has crossed above the long-term EMA, indicating a positive trend reversal. This is in line with the results of the latest Kitco News survey, where the majority of experts (89%) and retail traders (66%) predict that gold prices will continue to rise in the coming week. Looking ahead, I expect this optimism to continue to support gold prices, at least in the short term.
OANDA:XAUUSD
by Maria_aaa
Gold Surges: Political Momentum and New OutlookAmid the escalating Russia-Ukraine conflict, gold witnessed a sharp increase in price, closing at $2,716/ounce, reflecting strong demand for safe-haven assets. This recovery was evidenced by the price of gold breaking above both the 34 and 89 EMAs, indicating a reversal from the previous downtrend and opening up a positive outlook for prices in the short term. I assess that global political factors along with the upcoming US economic policy will continue to be the main factors affecting gold prices. Investors should pay attention to these developments when making investment decisions in the current context.
OANDA:XAUUSD
by Maria_aaa
Golden Cross, Overbought Conditions, and Key Resistance Ahead! Price is above all moving averages, indicating an uptrend. A Golden Cross is forming near the 2656 level, suggesting bullish potential. However, caution is advised as the price is near strong resistance, which may cap upward movement. For a potential correction, the price target is 2656. The monthly RSI is overbought at 80.07, indicating a potential long-term pullback. The weekly RSI is mildly bullish at 65.45, while the daily RSI is neutral at 58.62. The 4-hour RSI is overbought at 76.36, signaling a possible pullback. The 3-hour and 2-hour RSIs are extremely overbought, with bearish divergence, reinforcing a likely near-term correction. The price is approaching a critical resistance zone, where sellers may enter. Weak volume across timeframes suggests a lack of buying conviction, and if volume remains weak near resistance, a reversal or consolidation could occur. Actionable Insights: Caution is advised due to overbought conditions and weak volume. Watch for price rejection at resistance for a potential pullback. If the Golden Cross is confirmed, ensure volume picks up to sustain the move; otherwise, the breakout may be short-lived. A pullback or reversal is likely, especially near resistance, with the price target for a correction at 2656. key levels: Ultimate Resistance: 2734.375 Major Support, Pivot Point: 2656.250 Ultimate Support: 2578.125
OANDA:XAUUSD
by Trader-Kenias
1