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XAUUSD downGold extends its bullish momentum further above $2,660 on Thursday. XAU/USD rises for the fourth straight day, sponsored by geopolitical risks stemming from the worsening Russia-Ukraine war. Markets await comments from Fed policymakers.The short-term technical outlook for Gold price appears to lean in favor of buyers as the 14-day Relative Strength Index (RSI) prods the 50 level to the upside. The indicator is currently just above 50. However, an impending Bear Cross could be a headwind for Gold price. The 21-day Simple Moving Average (SMA) is closing in to cut the 50-day SMA from above. If that happens on a daily closing basis, it will validate the bearish crossover. Gold buyers need a daily candlestick closing above the 50-day SMA at $2,660 to unleash additional recovery toward the 21-day SMA at $2,680. The $2,700 threshold will be the next significant target for buyers. Conversely, failure to find acceptance above the 50-day SMA at $2,660 on a daily closing basis could reinforce sellers toward the $2,600 threshold. Tuesday’s low of $2,610 will be tested ahead of that.
OANDA:XAUUSDShort
by KingForex078
Gold Set to Form “W” Bottom Based on the current price action, there is potential for a “W” bottom to form. If this pattern plays out, today’s high should surpass yesterday’s 2626. However, if the price falls below 2690, the key support levels to watch will be between 2578-2573. I personally believe the probability of this scenario is low. Therefore, the strategy is to buy, but it’s essential to control position size and allow for some flexibility in case of unexpected adverse movements. Remain agile, seize the rebound opportunity, and manage risk effectively.
OANDA:XAUUSDLong
by Mia-Signal
BTC 4h-48 long forecastBTC looks very bullish on almost any timeframe. structure tells us we could have a pullback soon into unmitigated MB's which act as large SnD zones for those who dont know. MB's tend to have a high % of being mitigated before the long trend can continue. they get mitigated to cover the institutional shorts that made that last move down to liquidate any longs before the pump happened. Of course there isnt always a mitigation and this could very well continue upwards without any for of mitigation but that is something we shouldnt trade as there is very limited RR to capitalize on.
Long
by BreadFish
5
Is the bullish rally over?Gold continues to show upside potential, maintaining a bullish trend. It is currently supported around the 2731 level and may test resistance at 2758, followed by 2790. If it breaks through these levels, it could aim for a new all-time high around 2880. However, a drop below the 2731 support level would bring attention to the next support levels at 2708 and then a stronger support at 2685. Some indicators hint that a pullback might follow after testing these higher levels, signaling a possible shift toward bearish momentum.
TVC:GOLD
by adeelzahoor76
US30 Analysis in Elliott Waves - Anticipated Correction ScenarioUS30 Analysis in Elliott Waves - Anticipated Correction Scenario : Fibonacci extensions. This level often signals a potential reversal point, suggesting that a significant correction may be approaching in the short term. We anticipate a possible correction towards Fibonacci levels, around 23% to 38% of the third wave. The end of this third wave has also formed an ending diagonal, reinforcing the likelihood of a pause or reversal in the trend. Awaited Confirmation Signals To confirm the potential for a correction, several technical signals are in place: Divergences on MACD and RSI: A bearish divergence is present on these indicators, indicating a weakening of bullish momentum and increasing the likelihood of a trend reversal. Break of the Trend Line: Although the market is still in an uptrend, the break of this trend line would provide final confirmation of the end of the third wave and the start of a deeper correction. Monitoring this break is crucial before entering short positions. Price Action: On the weekly chart, a Bearish Engulfing pattern has already been observed, further supporting potential sell signals. Price Targets First Target (TP1): 38,418, a key support zone expected to serve as the initial correction target. Second Target (TP2): After a minor bullish correction, we could aim for the 33,735 area as the final target of this downward phase. After this anticipated correction, we’ll reassess the market to look for new buying opportunities if the bullish trend resumes.
CAPITALCOM:US30Short
by abdelkader22
XAUUSD: Head And Shoulders, Continue To SellYesterday, after experiencing a rebound, gold faced resistance again and pulled back, which is largely in line with our expectations, allowing everyone to achieve good profits. Currently, the short-term trend remains downward. As I mentioned yesterday, we are primarily watching the key support zone between 2718 and 2712. Today, gold touched this support area again and rebounded, but it did not break through the resistance of the downward trend. Therefore, our trading strategy continues to focus on selling. At the same time, we should closely monitor the performance of the support zone. If this support is effectively breached, I believe the subsequent decline could be significant, and breaking below 2700 is likely, with an expectation to reach below 2690. This encapsulates my main trading thoughts for the near future.
OANDA:XAUUSDShort
by Mia-Signal
Gold Trading Strategy: Continued Selling and Rebound ObservationAfter the rebound, gold has dropped again, now breaking below MA60, with short-term moving averages acting as resistance. I believe it’s prudent to continue selling today, with signals already shared at the market open—our regulars have already enjoyed some profits. With the current rebound, I recommend using MA60 and MA30 as reference prices for selling, targeting around 2712. We can then assess the market reaction before deciding whether to buy back in.
FOREXCOM:XAUUSDShort
by MichaeliaDefoe
Gold Trading Strategy: Focus on Selling TodayYesterday, we bought and made some profits, and today we’ll primarily focus on selling. The trading signal I released before the market opened suggests selling in the 2746-2752 range, with a TP set at 2738-2734. Some friends may have already traded based on the signal they received earlier; you can still join in. Gold is currently within the selling range, and if you’re looking to place this order, now could be an even better position. I will continue to monitor market trends, and any changes in trading will be communicated promptly. Stay tuned, and feel free to leave me a message if you have any questions.
FOREXCOM:XAUUSDShort
by MichaeliaDefoe
XAUUSD: Continue to be bullish, buy during pullback, target 2700Yesterday, our strategy was to wait for a pullback to the support range before buying. The direction and prediction were very accurate. The gold price pulled back from the initial 2680, the lowest was 2666, and then rose again to the historical high of 2685. Unfortunately, the lowest point of the pullback only reached 2666, which was only 1-2$ away from our buying range of 2665-2660. Therefore, I did not trade yesterday and missed a wave of nearly 20$ of rising profits. Now the gold price is still around 2680, and my view is still bullish, with a target of 2700. But there is indeed a risk of pullback if you chase the rise now. After all, the historical high of 2685 has failed to break twice, and you are not sure whether it will appear for the third time. Therefore, my trading strategy today is still to wait for the pullback to the support range before considering buying. Depending on the situation, the buying range can be adjusted flexibly.
TVC:GOLDLong
by AntonyTP
1
Gold shorts are not over yet, watch out for accelerated declinesThe September NFP data is good news for the market, giving the market more reasons to prepare for the latest inflation data. Last week's heavyweight employment report puts more pressure on this week's CPI data. If the data unexpectedly rises sharply, it is likely to cause market turmoil. After the blowout employment report last Friday, the importance of this week's CPI has been significantly provided. We have noticed that the US dollar has continued to maintain its upward momentum recently. It is likely to continue its upward trend before the release of CPI data. If there is a correction, it can only be after CPI. Therefore, the rise of the US dollar will bring continued suppression to gold. It can be seen from the figure that the gold price has repeatedly tested the low point of 2630 during the decline. I think 2630 is not a short-term bottom. It will fall below in the next two days. Once it falls below, you can see the support of the lower moving average near 2615. In addition, 2648 is the 0.382 position of the Fibonacci retracement. The pressure effect here has been verified many times before, so friends who are short can choose to sell here. My personal short position is currently in a state of substantial profit, but I will not close the position for the time being. I will continue to hold and expand the profit.
TVC:GOLDShort
by AntonyTP