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RSI Flags Gold Risks Before GDP, PCE Data? Gold is set to face two major US economic data points this week, following last week’s surprise 50-basis-point interest rate cut from the Federal Reserve: U.S. GDP figures on Thursday and Core Personal Consumption Expenditures (PCE) on Friday Danielle DiMartino Booth of Quill Intelligence argues the Fed’s larger-than-expected cut signals concerns over potential negative GDP revisions, casting doubt on the chances of a “soft landing” for the U.S. economy. Jerome Powell is also going to be speaking on Thursday at the 2024 U.S. Treasury Market Conference. But his remarks may take a backseat to the data. The 4-hour Relative Strength Index (RSI) has climbed above 70, signaling overbought conditions and suggesting caution for gold buyers. If the metal turns corrective, the price could test $2,613.
BLACKBULL:XAUUSD
by BlackBull_Markets
XAU/USD UpdateGold prices are pushing higher, defying expectations amid the strengthening U.S. dollar. Despite the dollar's growth, the precious metal continues to climb, hitting new highs with no visible resistance in sight. The geopolitical landscape is providing a strong tailwind, further fueling its upward momentum. Currently, gold is trading close to its all-time peak, as buyers maintain their bullish stance. The backdrop of recent Federal Reserve statements, China’s aggressive economic stimulus (with the People's Bank of China launching an unprecedented wave of support), and heightened geopolitical tensions in the Middle East are all supporting the rally. As the largest consumer of gold globally, China's economic moves add a significant layer of influence to the metal’s trajectory. Gold traditionally benefits during times of geopolitical instability, and the current situation is no exception. Moreover, the Federal Reserve continues to hint at a potential 0.5% rate cut, adding more fuel to the bullish sentiment. Key resistance levels are marked at 2634 and 2640, while support can be found at 2623, 2614, and 2602. The broader outlook suggests that gold’s upward trend is poised to persist. Should it manage to consolidate above the previous day's peak, a further advance toward 2650-2660-2675 becomes likely in the medium to short term. However, with significant news on the horizon, a brief correction may occur before the next leg up.
OANDA:XAUUSDLong
by lonelyPlayer0
XAUUSD Bullish momentumXAUUSD is currently testing last week's high, with a potential for a short-term pullback. On the 4H timeframe, the market closed bullish, reflecting strong momentum. After bouncing off the 2550 support zone, it may continue rising, potentially surpassing the 2600 level, as resistance appears minimal aside from key round numbers. Following the FED rate cut, the price could eventually target the 3000 level. Any short-term pullback presents a buying opportunity. The immediate target is resistance at 2605
FOREXCOM:XAUUSDLong
by RTED_Investing
1
GOLD (XAUUSD): Support and Resistance Analysis Here is my latest structure analysis and important support and resistance levels to pay close attention to on Gold. Vertical Structures Vertical Support 1: Rising Trend Line Vertical Support 2: Rising Trend Line Horizontal Structures Resistance 1: 2648 - 2655 area Resistance 2: 2673 - 2680 area Resistance 3: 2692 - 2700 area Support 1: 2586 - 2601 area Support 2: 2525 - 2560 area Consider these structures for pullback/breakout trading. ❤️Please, support my work with like, thank you!❤️
OANDA:XAUUSDLong
by VasilyTrader
1
GOLD H1 Analysis | ShortHello, everyone! I’m excited to share my analysis for today on XAU/USD. As we dive into the market, I see a potential opportunity to go short, and I want to walk you through my thought process. It’s crucial to approach trading with a clear strategy, so let’s break this down together! Market Overview Gold has always been a safe haven asset, and its movements can be influenced by various factors, including economic data releases, geopolitical events, and changes in interest rates. As we analyze the current market conditions, I believe that there’s a compelling case for a short position. Technical Analysis Upon reviewing the latest charts, we’ve identified several key resistance levels that indicate a strong potential for downward movement. Look at the price action over the last few days—there’s been a noticeable rejection at the higher levels, suggesting that sellers are stepping in. Resistance Level: We've observed a solid resistance at , which has held firm against bullish attempts. Support Levels: Watch for potential support around . This can help us manage our risk effectively. Risk Management As we consider entering a short position, risk management is paramount. Remember, no trade is worth compromising your account. Here are some guidelines: Position Sizing: Determine your risk per trade based on your total account balance. A common approach is to risk no more than 1-2% on any single trade. Stop Loss: Set a stop loss just above the resistance level to limit potential losses. Risk-Reward Ratio (RRR): Aim for a minimum RRR of 1:2 or 1:3. This means for every dollar you risk, you should target at least two or three dollars in profit. Conclusion In conclusion, while the technical indicators suggest a good opportunity to short XAU/USD, it’s essential to proceed with caution. Always adhere to your trading plan, utilize proper risk management techniques, and maintain discipline. Let’s work together, share insights, and keep each other accountable as we navigate this market. If you have any questions or additional thoughts on this analysis, feel free to share! Happy trading, everyone! 💰📉
CAPITALCOM:GOLDShort
by HouseofProfit
GOLD ROUTE MAP UPDATEHey Everyone, Great start to the week with both our Bearish target 2618 and Bullish target 2631 hit, just like we said. No cross and lock below 2618 gave the rejection bounce twice into 2631. We will now look for ema5 cross and lock above 2631 to open the range above. Failure to lock above 2631, will follow with a rejection back to 2618 We will see levels tested side by side until one of the weighted levels break and lock to confirm direction for the next range. We will keep the above in mind when taking buys from dips. Our updated levels and weighted levels will allow us to track the movement down and then catch bounces up. We will continue to buy dips using our support levels taking 30 to 40 pips. As stated before each of our level structures give 20 to 40 pip bounces, which is enough for a nice entry and exit. If you back test the levels we shared every week for the past 24 months, you can see how effectively they were used to trade with or against short/mid term swings and trends. BULLISH TARGET 2631 - DONE EMA5 CROSS AND LOCK ABOVE 2631 WILL OPEN THE FOLLOWING BULLISH TARGET 2644 POTENTIALLY 2658 BEARISH TARGETS 2618 - DONE EMA5 CROSS AND LOCK BELOW 2618 WILL OPEN THE RETRACEMENT RANGE RETRACEMENT RANGE 2603 - 2588 EMA5 CROSS AND LOCK BELOW 2588 WILL OPEN THE SWING RANGE SWING RANGE 2575 - 2558 As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Thank you all for your likes, comments and follows, we really appreciate it! Mr Gold GoldViewFX
OANDA:XAUUSD
by Goldviewfx
37
THE KOG REPORTTHE KOG REPORT: In last week’s KOG Report we plotted the potential range and play pre-event (FOMC) giving the resistance level above which we said would present the opportunity to short if targeted and held. This gave traders a fantastic trade into that range low where we gave the targets 2565 and 2555, which were both achieved. We then update traders with the FOMC KOG Report and again gave the levels for the short if resistance was targeted, which worked well. We had identified the same order region which is where price tapped and bounced, giving traders that long we suggested to break above the 2600 level to complete KOGs weekly bias level targets. Once that trade was taken, we decided to call it a week and wait for the close, giving us another fantastic week in Camelot, not only on Gold but also the other pairs we trade and apply the algo to. So, what can we expect in the week ahead? For this week we will say play caution on going long unless we get a pullback! Ideally, we want to see price attempt that 2630-35 region, with the extension of 2640, and if we see signs of a reversal there, we feel an opportunity to short the market is available, initially into the 2610 region and below that 2595 as shown with the red arrows on the chart. We need to monitor this move carefully as there are initial signs we may see a deep pull back next week, so please monitor the levels and watch the red boxes for the breaks! On the flip, if we do start the week with a move downside, we will be looking at the 2610 level first for a RIP, and if achieved and defended we feel the long trade is available into that 2635 region where again we will look for signs of a reversal. In summary, unless we break above the 2640 level we want price to give us better opportunities as the last thing we want to do is start taking losses, even small ones while price is still finding it’s feet up here. Hope that is clear for everyone! KOG’s bias for the week: Bullish above 2595 with targets above 2630, 2635 and extension level 2640 Bearish on break of 2595 with target below 2570 RED BOXES: Look for red box breaks above 2626 to confirm move higher Look for red box breaks below 2613 to confirm lower As usual, please look out for the red boxes, KOG’s bias of the day and the updated analysis which is posted for the wider community. Please do support us by hitting the like button, leaving a comment, and giving us a follow. We’ve been doing this for a long time now providing traders with in-depth free analysis on Gold, so your likes and comments are very much appreciated. As always, trade safe. KOG
FX:XAUUSD
by KnightsofGold
4
GOLD 1H CHART ROUTE MAP & TRADING PLAN FOR THE WEEKHey Everyone, Please see our updated 1h chart levels and targets for the coming week. We are in a new rage but just like last time we were able to generate accurate levels to use for the coming week. We are seeing price between two weighted levels. We have 2631 Goldturn resistance and 2618, as Goldturn support. We currently have a gap above on market open at 2631 and below at 2618 and will need ema5 cross and lock on either weighted level to determine the next range. We will see levels tested side by side until one of the weighted levels break and lock to confirm direction for the next range. We will keep the above in mind when taking buys from dips. Our updated levels and weighted levels will allow us to track the movement down and then catch bounces up. We will continue to buy dips using our support levels taking 30 to 40 pips. As stated before each of our level structures give 20 to 40 pip bounces, which is enough for a nice entry and exit. If you back test the levels we shared every week for the past 24 months, you can see how effectively they were used to trade with or against short/mid term swings and trends. BULLISH TARGET 2631 EMA5 CROSS AND LOCK ABOVE 2631 WILL OPEN THE FOLLOWING BULLISH TARGET 2644 POTENTIALLY 2658 BEARISH TARGETS 2618 EMA5 CROSS AND LOCK BELOW 2618 WILL OPEN THE RETRACEMENT RANGE RETRACEMENT RANGE 2603 - 2588 EMA5 CROSS AND LOCK BELOW 2558 WILL OPEN THE SWING RANGE SWING RANGE 2575 - 2558 As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Thank you all for your likes, comments and follows, we really appreciate it! Mr Gold GoldViewFX
OANDA:XAUUSD
by Goldviewfx
24
GOLD 4H CHART ROUTE MAP & TRADING PLAN UPDATEHey Everyone, Please see update on the 4H chart we traded last week. This weeks chart is still a continuation from last weeks chart as the chart is still in play and playing out perfectly, as we analysed. We only updated the retracement and swing range to accommodate the new range. Last weeks range played out level to level like we analysed finished off with the last cross and lock above 2590 opening 2608 and 2626, which was completed perfectly finishing off the week at the last target. We are seeing price between two weighted levels. We have 2626 Goldturn resistance and we have 2608, as Goldturn support. We currently have a gap open above at 2626 and below at 2608 and will need ema5 cross and lock on either weighted level to determine the next range. We will see levels tested side by side until one of the weighted levels break and lock to confirm direction for the next range. We will keep the above in mind when taking buys from dips. Our updated levels and weighted levels will allow us to track the movement down and then catch bounces up. We will continue to buy dips using our support levels taking 30 to 40 pips. As stated before each of our level structures give 20 to 40 pip bounces, which is enough for a nice entry and exit. If you back test the levels we shared every week for the past 24 months, you can see how effectively they were used to trade with or against short/mid term swings and trends. BULLISH TARGET 2626 EMA5 CROSS AND LOCK ABOVE 2626 WILL OPEN THE FOLLOWING BULLISH TARGET 2645 POTENTIALLY 2664 EMA5 CROSS AND LOCK ABOVE 2664 WILL OPEN THE FOLLOWING BULLISH TARGET 2682 POTENTIALLY 2699 BEARISH TARGETS 2608 EMA5 CROSS AND LOCK BELOW 2608 WILL OPEN THE RETRACEMENT RANGE RETRACEMENT RANGE 2590 - 2564 EMA5 CROSS AND LOCK BELOW 2564 WILL OPEN THE SWING RANGE SWING RANGE 2545 - 2517 As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Thank you all for your likes, comments and follows, we really appreciate it! Mr Gold GoldViewFX
OANDA:XAUUSD
by Goldviewfx
12
DAILY CHART MID/LONG TERM CHART UPDATEHey Everyone, Please see update on our daily chart structure that we have been tracking and trading successfully for a while now. Previously the candle body close above 2521 opened 2566, which was hit perfectly. We then hade a candle body close above 2566 leaving a long term gap to 2608 and we also stated that if we get a ema5 lock then this will further strengthen the gap. Usually the higher timeframes may not have room for ema5 lock so a candle body close is also suffice. On this occasion last week we got both the body close and ema5 lock and then our target was complete perfectly allowing us plenty of time to get in for the action after confirmation. We now have a candle body close above 2608 leaving a longer range/term target open at 2650 and, as usual ema5 cross and lock will further confirm this. We have to also keep in mind that we have a support range between 2566 - 2521 for longer range support areas to buy strategic dips, should the corrections take place before completing gaps above. We will use smaller timeframe analysis and trading plans to navigate the range in true level to level fashion. Our long term bias is Bullish and therefore we will continue to use our smaller timeframes to buy dips using our levels and setups. Buying dips allows us to safely manage any swings rather then chasing the bull from the top. Thank you all for your likes, comments and follows, we really appreciate it! Mr Gold GoldViewFX
OANDA:XAUUSD
by Goldviewfx
4
GOLD MONTHLY CHART LONG TERM/RANGE ROUTE MAPHey Everyone, After completing our last monthly chart long term/range chart idea, we never had a chance to update a new long term plan and so here you go!!! 2499 candle body close left a gap open last month to 2589. This gap was hit perfectly this month at 2589. We are now seeing play above 2589 but will need the month candle to close above this level to open 2702 AXIS target. Failure to close above this level this month will see a rejection into the channel top for a bounce and a further close below the channel top or 2499 will see a further drop into the channel half line for the next correctional test and bounce. Each of the lower Goldturn levels below are likely to give re-actional bounces using our shorter time frame idea. 2825 is our final long range/term target on this chart idea and we will look to continue to buy dips using our smaller timeframe ideas rather then chasing the bull form the top. As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Thank you all for your likes, comments and follows, we really appreciate it! Mr Gold GoldViewFX
FOREXCOM:XAUUSD
by Goldviewfx
11
XAUUSD: 2,650 by next week, 2,850 by early 2025.Gold turned overbought on its 1D technical outlook (RSI = 71.445, MACD = 34.140, ADX = 33.307). Despite that, our TP = 2,650 will most likely get hit by next week, so now we will discuss what could happen next. Obviously a rejection at the Top of the Channel Up is most likely to take place, with which the market will seek technical confirmation of a support and buyers near the 1D MA50 again. On the 1W timeframe however (right chart), with the Fed cutting the rates aggressively as during the pandemic (March 2020), it is very likely that we are in a post cut rally which, with the support of the 1W MA50, will peak possibly as high as +78.50%, like the August 2020 Top. Consequently, we see more probable long term for Gold to reach 2,850 by February-March 2025. See how our prior idea has worked out: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
FX_IDC:XAUUSDLong
by InvestingScope
GOLD ROUTE MAP UPDATEHey Everyone, And another PIPTASTIC finish to the week, completing all our Bullish targets!! After completing the first round of targets yesterday, we stated that we will now look for ema5 cross and lock above 2591 to open 2603 and 2615. We got the lock above 2591 and then followed with the perfect hit on 2603 and 2615 completing the targets to perfection. BULLISH TARGET 2581 - DONE EMA5 CROSS AND LOCK ABOVE 2581 WILL OPEN THE FOLLOWING BULLISH TARGET 2591 - DONE EMA5 CROSS AND LOCK ABOVE 2591 WILL OPEN THE FOLLOWING BULLISH TARGET 2603 - DONE POTENTIALLY 2615 - DONE BEARISH TARGETS 2567 - DONE EMA5 CROSS AND LOCK BELOW 2567 WILL OPEN THE RETRACEMENT RANGE RETRACEMENT RANGE 2554 (DONE) - 2538 We will now come back Sunday with our updated Multi time-frame analysis, Gold route map and trading plans for the week ahead. Have a smashing weekend!! And once again, thank you all for your likes, comments and follows, we really appreciate it! Mr Gold GoldViewFX
OANDA:XAUUSD
by Goldviewfx
18
XAUUSD - Gold 1HRSimple Trading - Expanding Wedge pattern Gold has broken above the expanding wedge and is now pushing for its target (2615). Expect gold to continue to the previous High (2600) and make a higher high. If the Expanding Wedge pattern plays out correctly, 2615 should be the next target. Keep in mind that there is strong resistance at the 2600 price level. Expect another fakeout. The previous week's high (PWH) is acting as support. If two or more Bearish candles close below the PWH/support... this could indicate sell pressure. *These are just my thoughts, not financial advice.
EIGHTCAP:XAUUSDLong
by nikdobii
GOLD ROUTE MAP UPDATEHey Everyone, What can I say.....Another PIPTASTIC day on the charts today!! We got the break below 2567 opening the retracement range, which gave the perfect bounce into the upper Goldturns 2581 and then 2591, completing our open Bullish target that we highlighted earlier this week. - BOOOOOM!! We will now look for ema5 cross and lock above 2591 to open the range above or failure to lock will follow with a rejection into the lower Goldturns for support and bounce on the weighted levels. We will keep the above in mind when taking buys from dips. Our updated levels and weighted levels will allow us to track the movement down and then catch bounces up. We will continue to buy dips using our support levels taking 30 to 40 pips. As stated before each of our level structures give 20 to 40 pip bounces, which is enough for a nice entry and exit. If you back test the levels we shared every week for the past 24 months, you can see how effectively they were used to trade with or against short/mid term swings and trends. BULLISH TARGET 2581 - DONE EMA5 CROSS AND LOCK ABOVE 2581 WILL OPEN THE FOLLOWING BULLISH TARGET 2591 - DONE EMA5 CROSS AND LOCK ABOVE 2591 WILL OPEN THE FOLLOWING BULLISH TARGET 2603 POTENTIALLY 2615 BEARISH TARGETS 2567 - DONE EMA5 CROSS AND LOCK BELOW 2567 WILL OPEN THE RETRACEMENT RANGE RETRACEMENT RANGE 2554 (DONE) - 2538 EMA5 CROSS AND LOCK BELOW 2538 WILL OPEN THE SWING RANGE SWING RANGE 2516 - 2506 As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Thank you all for your likes, comments and follows, we really appreciate it! Mr Gold GoldViewFX
OANDA:XAUUSD
by Goldviewfx
20
XAUUSD Counter-trend TradingXAUUSD has reached an all-time high of 2570, touching both a resistance zone and the channel border. With no high-impact news scheduled today and it being a Friday, there's a possibility of a pullback, as markets often correct after a strong trending week. Additionally, the price action seems to be slowing down near the resistance zone, indicating potential weakness. Given that markets typically move in cycles, there is a strong possibility of a retest of the 2550 support level before any further upward movement. The target is the support zone around 2544.800
FOREXCOM:XAUUSDShort
by RTED_Investing
XAUUSD SELL SIGNAL DOUBLE TOP PATTERNOn Xauusd price has formed a complete double top and was able to move down partially break the line 2575.447 leaving a wick and reverse so is important to note that there is a greater chance for the price to fall the line has been tested so going for SHORT are needed with target profit of 2560.718 and stoploss of 2591.692 . Use money management. XAUUSD SELL: 2575.447 - 2573.755 Sl 2591.692 Tp 2560.718 Note: Trade with a lot that suit your capital
OANDA:XAUUSDShort
by FrankFx14
GOLD ROUTE MAP UPDATEHey Everyone, Another great day on the charts today with our chart idea playing out, as analysed. Yesterday after hitting the bearish target 2567, we stated that we need ema5 to cross and lock below 2567 to open the retracement range for a test and failure to lock below 2567 and we will see the Goldlturns above being re-tested. - No cross below 2567 confirmed the bounce and gave multiple bounces off this level of over 30 to 40 pips, just like we analysed and now left 2581 open for a re-test, which fell short by just a few pips. We will see price range between 2567 and 2581, until we see a cross and lock on either level to confirm breakout to the next range. We will keep the above in mind when taking buys from dips. Our updated levels and weighted levels will allow us to track the movement down and then catch bounces up. We are taking extra caution with our buys in this new range, as bigger corrections are likely. We will continue to buy dips using our support levels taking 30 to 40 pips. As stated before each of our level structures give 20 to 40 pip bounces, which is enough for a nice entry and exit. If you back test the levels we shared every week for the past 24 months, you can see how effectively they were used to trade with or against short/mid term swings and trends. BULLISH TARGET 2581 - DONE EMA5 CROSS AND LOCK ABOVE 2581 WILL OPEN THE FOLLOWING BULLISH TARGET 2591 EMA5 CROSS AND LOCK ABOVE 2591 WILL OPEN THE FOLLOWING BULLISH TARGET 2603 POTENTIALLY 2615 BEARISH TARGETS 2567 - DONE EMA5 CROSS AND LOCK BELOW 2567 WILL OPEN THE RETRACEMENT RANGE RETRACEMENT RANGE 2554 - 2538 EMA5 CROSS AND LOCK BELOW 2538 WILL OPEN THE SWING RANGE SWING RANGE 2516 - 2506 As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Thank you all for your likes, comments and follows, we really appreciate it! Mr Gold GoldViewFX
OANDA:XAUUSD
by Goldviewfx
8