XAUUSD | GOLDSPOT | New perspective | follow-up details
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With increasing geopolitical tensions in the Middle East, having Gold in your portfolio can serve as a perfect hedge against international turmoil. As investors closely monitor events in Israel, any increase in geopolitical risk is certain to trigger panic demand for safe-haven buying in gold. Our analysis indicates that the rally is likely to reach $1930 in a quick chase.
Last Friday, buying pressure built up within the $1,810 zone after markets reacted positively to the US Non-Farm Payrolls report. The report handily beat the street, printing at a forecast-clobbering 336K against the anticipated 170K, and the previous figure was also revised higher to 227K from 187K. As a result, market sentiment has turned firmly bullish, taking XAUUSD back up the charts after most of the week saw spot Gold prices firmly on the low end.
XAUUSD Technical Analysis:
In this video, we dissected the XAUUSD chart from a technical standpoint, analyzed the key levels, analyzed historical price moves, market behaviors, and buyer-seller dynamics, and uncovered potential trading opportunities.
The $1,810 and $1,830 zones will remain our center stage for this week. Its historical significance makes it a crucial point. If the bearish momentum is sustained then the breakdown of the $1,810 and the support line on the 4H timeframe could incite a strong downtrend continuation. However, for a sustained recovery the asset has to recapture the crucial $1,830.00.
Stay tuned for more thrilling updates on the Gold market! Remember, trading involves risks, and I always recommend exercising caution and seeking advice from financial professionals. Hit the like button if you found this analysis helpful, and don't forget to subscribe for more insightful content! 📺🔔💼
Disclaimer Notice:
Please be aware that margin trading in the foreign exchange market, including commodity trading, CFDs, stocks, and other instruments, carries a high level of risk and may not be suitable for all investors. The content of this speculative material, including all data, is provided by me for educational purposes only and to assist in making independent investment decisions. All information presented here is for reference purposes only, and I do not assume any responsibility for its accuracy.
It is important that you carefully evaluate your investment experience, financial situation, investment objectives, and risk tolerance level. Before making any investment, it is advisable to consult with your independent financial advisor to assess the suitability of your circumstances.
Please note that I cannot guarantee the accuracy of the information provided, and I am not liable for any loss or damage that may directly or indirectly result from the content or the receipt of any instructions or notifications associated with it.
Remember that past performance is not necessarily indicative of future results. Keep this in mind while considering any investment opportunities.
Last Friday, buying pressure built up within the $1,810 zone after markets reacted positively to the US Non-Farm Payrolls report. The report handily beat the street, printing at a forecast-clobbering 336K against the anticipated 170K, and the previous figure was also revised higher to 227K from 187K. As a result, market sentiment has turned firmly bullish, taking XAUUSD back up the charts after most of the week saw spot Gold prices firmly on the low end.
XAUUSD Technical Analysis:
In this video, we dissected the XAUUSD chart from a technical standpoint, analyzed the key levels, analyzed historical price moves, market behaviors, and buyer-seller dynamics, and uncovered potential trading opportunities.
The $1,810 and $1,830 zones will remain our center stage for this week. Its historical significance makes it a crucial point. If the bearish momentum is sustained then the breakdown of the $1,810 and the support line on the 4H timeframe could incite a strong downtrend continuation. However, for a sustained recovery the asset has to recapture the crucial $1,830.00.
Stay tuned for more thrilling updates on the Gold market! Remember, trading involves risks, and I always recommend exercising caution and seeking advice from financial professionals. Hit the like button if you found this analysis helpful, and don't forget to subscribe for more insightful content! 📺🔔💼
Disclaimer Notice:
Please be aware that margin trading in the foreign exchange market, including commodity trading, CFDs, stocks, and other instruments, carries a high level of risk and may not be suitable for all investors. The content of this speculative material, including all data, is provided by me for educational purposes only and to assist in making independent investment decisions. All information presented here is for reference purposes only, and I do not assume any responsibility for its accuracy.
It is important that you carefully evaluate your investment experience, financial situation, investment objectives, and risk tolerance level. Before making any investment, it is advisable to consult with your independent financial advisor to assess the suitability of your circumstances.
Please note that I cannot guarantee the accuracy of the information provided, and I am not liable for any loss or damage that may directly or indirectly result from the content or the receipt of any instructions or notifications associated with it.
Remember that past performance is not necessarily indicative of future results. Keep this in mind while considering any investment opportunities.
Note
Market key players seek refuge at the beginning of the week due to escalating geopolitical tensions caused by Israel's formal declaration of war against the Palestinian Hamas group. This has led to the XAUUSD opening with a bullish gap and subsequently trading within the tight range of $1,855 and $1,846. Interestingly, the current price is significantly above the neckline of the reversal pattern identified in the video. Given these market conditions, it is worth considering whether the price will drop to retest the neckline at the $1,830, in anticipation of a potential uptrend continuation, or if there will be a breakout/retest of the resistance line at the $1,855 zone. It is important to exercise patience and wait for a break of the range for potential trading opportunities.Good Morning
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Cautious selling resumes following the breakout of the $1,855 zone, with Gold price fluctuating within a narrow $10 range [$1,855/$1,865] near a one-week peak. It is widely acknowledged that gold, being a safe-haven asset, tends to benefit during times of political and economic turmoil.The pivotal question arises: will this lead to a retest of the $1,885 level in anticipation of an uptrend, or will the price breach the ascending trendline and $1,855 level, triggering a potential retracement or sell-off? Today, the ascending trendline stands as a crucial reference point for our trading decisions.
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Our buy position remains strong, currently running with a 90-pip profit. This week, trading activities have remained within a tight range, fluctuating between $1,855 and $1,865, highlighting the prevailing uncertainty in the market. Today, investors are eagerly awaiting the release of the US Producer Price Index (PPI) and the FOMC minutes, which are expected to provide significant market impetus. We continue to maintain our secure buy position, poised to capitalize on further trading opportunities as they arise.Good Morning
Trade active
Just as discussed during our live session this morning; another buy position is triggered with a total of 200 pips profit (from 2 positions); secure all positions as the ascending trendline remains our yardstick to guide trading decisions today.Trade active
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The varied comments from Federal Reserve (Fed) officials regarding inflation risks and policy measures have compelled market participants to allocate capital towards gold. Amidst the escalation in the Middle East and since the start of the week, gold has displayed its resilience, reaching a week-high above the $1,875 level. This has instilled confidence in market participants, leading them to favor gold as an asset. Currently, we have gained a total profit of 500 pips from three buy positions. It is advisable to secure all positions at this point, while also keeping an eye out for potential trading opportunities in the future.Good Morning
Trade closed manually
All buy positions were closed with a significant profit as the USD strengthened following the release of the United States inflation report for September. The report revealed that the headline Consumer Price Index (CPI) exceeded expectations, primarily due to the surge in gasoline prices. Given the current situation, it is crucial to exercise patience. Currently, the price is trading around the ascending trendline and has breached the $1,874.70 level. If we observe a retest of this structure, we will consider selling. However, if the price bounces back above the trendline with clear buying pressure, it will present buying opportunities.Note
In a surprising turn of events, the market has shown resilience after what initially seemed like a breakdown of the ascending trendline, spurred by yesterday's US Consumer Price Index (CPI) inflation reading, which indicated higher inflation than investors had anticipated. This unexpected turn prompted a swift rebound in the US Dollar, as investors speculated that the Federal Reserve (Fed) might consider further interest rate hikes in November due to the ongoing challenges in easing inflationary pressures.However, in the past 11 hours, there has been a noteworthy development – a resurgence of bullish momentum. As we closely monitor the charts, we are now poised to identify potential buying opportunities above the $1,874.70 zone. A retest of this level could signal a strong entry point for new buy positions. Conversely, if there's a breakdown or a retest of the $1,874.70 level, it may open the door for potential selling opportunities. Stay alert and ready to capitalize on these market movements.
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