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XAU/USD: Ready for a Pullback!The price of gold (XAU/USD) has recently retreated from an all-time high of around $2,560 and is currently trading slightly below $2,720, complicated by the strength of the US dollar and rising US Treasury yields. Technically, the $2,750 level has shown signs of rejection, making it a key resistance, while immediate support is located at $2,725, near the lower boundary of a two-week ascending channel. A convincing break below this support could trigger technical selling, pushing the price down toward $2,700 and subsequently to $2,680-2,675, where the 100-period simple moving average resides. Despite overbought conditions and pressure from the dollar, political uncertainty and the risk of escalating tensions in the Middle East continue to support demand for gold as a safe haven. That said, gold seems poised for a correction toward $2,675, and we will see in the coming days if it gives us a signal for a short entry. Good evening and happy trading to everyone.
OANDA:XAUUSDShort
by Forex48_TradingAcademy
1
GOLD eased slightly from new era highsContinuing to be influenced by the approaching US presidential election and the increasingly new conflict in the Middle East, along with other conflict risks in the Asian region have boosted OANDA:XAUUSD continues to be the top haven asset refreshing to new all-time levels. A Reuters/Ipsos poll shows Democratic Vice President Kamala Harris leading former Republican President Donald Trump by a slim margin, 46% to 43%. Strong buying activity by central banks and expectations of US interest rate cuts have also supported gold's 33% increase this year. Fed officials continue to weigh in on the future, with Jeffrey Schmid favoring a slower pace of rate cuts and Mary Daly predicting deeper cuts. Citigroup raised its three-month price forecast by 3.7% to $2,800 an ounce on expectations that continued labor market weakness will boost demand. Israel and its rivals Hamas and Hezbollah have vowed to continue fighting in Gaza and Lebanon, leaving little hope for a solution to the ongoing conflict in the Middle East. Rising geopolitical tensions often cause investors to flock to safe-haven assets such as gold as a "bunker" against risk and uncertainty in global markets. In the context of geopolitical and economic instability, gold is considered a safe haven tool to hedge risks, and lower interest rates also increase gold's investment appeal. Gold is up more than 33% this year and has renewed all-time record highs multiple times. Analysis of technical prospects for OANDA:XAUUSD Gold has not yet broken the price channel with the upper edge confluent with the price channel and this is considered the most important resistance currently. Gold is down a bit from the aforementioned confluence but overall in the interim it can only be seen as a weak correction signal, with the Relative Strength Index pointing down without breaking the 75 level, if the RSI turns down Below level 75 it will send a clearer signal for a correction towards the 50 area. Temporarily, gold's decline should only be considered a short-term correction, technical conditions still support the possibility of price increases. However, in case gold falls below the 1% Fibnonacci level it would be a good signal for a possible further correction with a target then around $2,721 and more to the $2,711 Fibonacci level. 0.786% expansion. During the day, the bullish prospect of gold prices with technical correction cases will be noticed again by the following price points. Support: 2,721 – 2,711 Resistance: 2,748 – 2,750 SELL XAUUSD PRICE 2767 - 2765⚡️ ↠↠ Stoploss 2771 →Take Profit 1 2760 ↨ →Take Profit 2 2755 BUY XAUUSD PRICE 2709 - 2711⚡️ ↠↠ Stoploss 2705 →Take Profit 1 2716 ↨ →Take Profit 2 2721
OANDA:XAUUSDLong
by Xayah_trading
1
XAUUSDHere is our view and update on XAUUSD . Potential short opportunity. As per our last mind, we were waiting for signs of exhaustion on XAUUSD . We have also broken the structure and our KL (Key Level) 2737 . In detail, As price on XAUUSD has broken our KL (Key Level) that’s sitting at 2737 , it has also broken the upside structure . We are entering at the break of our KL at 2737.811 with SL sitting at 2749.285 as it would invalidate the trade idea and continue the bullish movement creating new highs. Our TP (Take Profit) is sitting at the previous ATH (All Time High) 2685 . PARAMETERS - Entry: 2737.811 - SL: 2749.285 - TP: 2685.800 KEY NOTES - XAUUSD price is showing exhaustion. - XAUUSD broke our KL (Key Level). - The bullish structure has been broken. - Breaking above our SL would result in more upside. Happy trading! FxPocket
OANDA:XAUUSDShort
by FxPocket
Trading minute impulseOn the minute timeframe of XAUUSD at the moment we have the completion of the impulse formation. If the price continues to move in the direction of the impulse and the support zones do not allow it to overcome the base of the impulse, it may reach the targets 1 and 2. If the price fails to advance in the direction of the momentum and overcomes the support zone at the base of the momentum, it is very likely that the price will move sideways or against the direction of the momentum.
FXOPEN:XAUUSDShort
by syomking76418
Gold prices continue to search for new peaks?Conan, hello everyone! Today, the price of gold continues to break records by maintaining a new peak around $2700, and the growth trend seems to show no signs of slowing down this year. Notably, this week, the European Central Bank held a meeting and officially decided to cut interest rates for the third time this year, with a reduction of 0.25 percentage points. At the same time, gold has attracted more attention from investors after the LBMA poll released earlier this week. These developments have made the gold market hotter than ever. It is expected that this price increase will reach $2760. What are your thoughts on this issue? Do you agree with me?
OANDA:XAUUSD
by ConanTradingFX
Lingrid | GOLD continues to SURGE. Long from the SUPPORT zoneThe price perfectly fulfilled my previous idea. It hit the target zone. OANDA:XAUUSD surged upward, reaching new all-time high levels. At this point, it's prudent to wait for a pullback from the resistance zone before considering a long position. The recent break and close above the previous day's high is a bullish signal, suggesting that the market may continue upward toward the next resistance level at 2800. However, we need to be cautious, especially with today's high-impact news. If the news negatively impacts gold, it could trigger a decline to the 2700 level. I expect the market reject the support level and donward trendline and moving higher levels. My goal is resistance zone around 2760. Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩‍💻
OANDA:XAUUSDLong
by Lingrid
15
GBP/JPY Consolidation Tightens: Bulls Eyeing a Break Above 195.7After a strong correction and finding a bottom at 180 in early August, OANDA:GBPJPY began to recover, initially rising to the 193 zone. Another leg down followed, but this time, bulls regained control at the 183.90 level, forming a higher low supported by a double bottom pattern. The next upward move stalled at the 195 resistance, and the pair has since entered a consolidation phase. However, the recent consolidation range is tightening, and it appears that the price is gearing up for an upward breakout. I am slightly bullish on this pair, and a break with a daily close above the 195.70 resistance level would confirm this outlook, potentially leading to further gains toward the key 200 zone. In the short term, interim resistance around 198 could also serve as a target for bullish traders.
Long
by Mihai_Iacob
4
GENERAL MOTORS rally expected ahead of major 1W Golden CrossGeneral Motors (GM) is close to a Golden Cross on the 1W time-frame, which is a major bullish development as since its first trading days in November 2010, it has only been formed twice. The first one was on the week of June 19 2017 and second on March 29 2021. In both cases, the price rallied aggressively and reached the 2.0 Fibonacci extension of the pull-back that took place before. On top of that, its last two lows and the August 05 in particular, tested and successfully held both the 1W MA50 (blue trend-line) and 1W MA200 (orange trend-line). As a result, we expect the price to extend the rally and target at least $65.00. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
NYSE:GMLong
by TradingShot
1
STXUSD is about to turn parabolic to $10.Stacks (STXUSD) has been trading within a Channel Up pattern since the December 26 2022 bottom. It is currently consolidating around the 1W MA50 (blue trend-line), coming off a Higher Low rebound at the bottom of the pattern and on the 1W MA200 (orange trend-line). This current sideways trading is highly symmetric with the start of the previous Bullish Leg, as it is trading just below the 0.5 Fibonacci retracement level. At the same time, the 1W MACD has been on a Bullish Cross for a month now and the last time it formed a Bullish Cross (October 16 2023), was right after the previous Higher Low and before the 0.5 Fib consolidation. Once the 0.5 Fib broke, the price aggressively rose on the Bullish Leg and formed a Higher High at the top of the Channel Up, right below the 2.0 Fib extension. As a result, we expect STX to reach at least $10.00 by the end of Q1 2025. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
BINANCE:STXUSDLong
by TradingShot
1
EURUSD: Selling strategy is preferred!EUR/USD continued to slide below 1.0800 during the European session on Wednesday. The major currency pair remained under pressure as the outlook for the Euro (EUR) deteriorated due to faster-than-expected inflation declines and rising risks of a Eurozone recession, fueling speculation of more rate cuts by the European Central Bank (ECB). EUR/USD was also pressured by a rally in the USD. The US dollar gained amid political uncertainty ahead of the US presidential election and strong expectations that the Federal Reserve (Fed) policy easing cycle will be more gradual than previously expected. Trend-wise, the bearish bias remains dominant across most timeframes and the short strategy remains the dominant style. Happy trading and good profits!
Short
by Bentradegold
US30USD Will Move Higher! Long! Take a look at our analysis for US30USD. Time Frame: 12h Current Trend: Bullish Sentiment: Oversold (based on 7-period RSI) Forecast: Bullish The market is trading around a solid horizontal structure 42,851.2. The above observations make me that the market will inevitably achieve 43,893.3 level. P.S The term oversold refers to a condition where an asset has traded lower in price and has the potential for a price bounce. Overbought refers to market scenarios where the instrument is traded considerably higher than its fair value. Overvaluation is caused by market sentiments when there is positive news. Like and subscribe and comment my ideas if you enjoy them!
OANDA:US30USDLong
by SignalProvider
1
Lingrid | EURUSD making LOWER Lows. Potential PULLBACK tradeThe price perfectly fulfilled my previous idea. It hit the target level. FX:EURUSD is trending downward, consistently making lower lows, and is currently testing the August low after breaking and closing below the psychological level at 1.08000. Given the bearish momentum that the market has gained, I anticipate a continuation of the downward trend. I expect the price to pull back toward the swap zone and then continue making lower lows, If it gives a sell signal during that pullback. My goal is support zone around 1.07550 Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩‍💻
Short
by Lingrid
2
GBPJPY Is Going Up! Buy! Take a look at our analysis for GBPJPY. Time Frame: 12h Current Trend: Bullish Sentiment: Oversold (based on 7-period RSI) Forecast: Bullish The market is approaching a significant support area 197.654. The underlined horizontal cluster clearly indicates a highly probable bullish movement with target 203.292 level. P.S Please, note that an oversold/overbought condition can last for a long time, and therefore being oversold/overbought doesn't mean a price rally will come soon, or at all. Like and subscribe and comment my ideas if you enjoy them!
Long
by SignalProvider
1
PALLADIUM Bullish Cross on MACD sets the tone.Palladium (XPDUSD) has been rising since the 1D Golden Cross (October 07) and on top of the 1D MA50 (blue trend-line) since September 09. We view this as the emergence of a Channel Up, currently on its 2nd Bullish Leg, aiming for the next Higher High. The 1D MACD is on a Bullish Cross, and that's all we need to confirm the continuation of the rise. Our first Target is near the top (Higher Highs trend-line) at 1200. After that and if a potential subsequent pull-back holds the green zone, we will turn bullish again towards 1270. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
FX_IDC:XPDUSDLong
by TradingShot
1