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Buyzone

Gold Price Holds Below 2000 Amidst Dollar and Rate Hike UncertThe price of gold (XAU/USD) is currently holding steady just below the $2,000 psychological mark as the Asian trading session kicks off on Monday. Gold is seeing some support due to a correction in the US Dollar (USD) and a slight pullback in US Treasury bond yields. As of now, the price of gold is hovering around $1,996, showing a modest gain of 0.07% for the day. Simultaneously, the US Dollar Index (DXY), which measures the USD's value against a basket of global currencies, has slipped to 106.20 after pulling back from its weekly high of 106.70. In the bond market, the 10-year Treasury bond yield has made small movements and is currently around 4.90%. Last week, Federal Reserve (Fed) Chair Jerome Powell reiterated that the Fed intends to keep interest rates steady at its upcoming meeting on Wednesday. However, Powell hinted that the decision for December would depend on incoming economic data. He mentioned that if there's continued strong economic growth and a labor shortage, an additional rate hike is a possibility. This potential for higher interest rates could limit the upward potential for gold. It's important to note that rising interest rates make it less attractive to invest in assets like gold, which don't provide any yield. Additionally, investors are keeping an eye on the Chinese Purchasing Managers' Index (PMI) data, set to be released on Tuesday. China's Manufacturing PMI is expected to remain in expansionary territory, with an estimated growth to 50.2, while the Non-Manufacturing PMI is anticipated to rise to 51.8. Positive surprises in this data could boost the price of gold, as China is both the largest gold producer and consumer in the world. Looking ahead to Tuesday, there are key economic indicators to watch in the US, including the Housing Price Index and Consumer Confidence. However, the primary focus will shift to the Federal Reserve's interest rate decision and the subsequent press conference on Wednesday. Traders will closely monitor these events for cues and potential trading opportunities, particularly in the USD/JPY currency pair.
TVC:GOLDLong
by sabellaFX
BULLISH MOMENTUM In this trading idea, we'll explore a potentially profitable strategy for buying gold by utilizing a combination of technical analysis tools. We'll focus on key factors such as critical support levels, Fibonacci retracement levels, order blocks, and trend reversals. Support Levels : We'll closely monitor important support levels on the gold chart. These levels often act as significant barriers for price movement. A break below these levels can indicate a potential trend reversal or a strong bearish sentiment. Fibonacci Levels: Fibonacci retracement levels are essential for identifying potential reversal zones. We'll use Fibonacci analysis to pinpoint key levels where price may encounter resistance or support, offering valuable entry and exit points. Order Blocks: Understanding order blocks is crucial for spotting areas where significant buying or selling activity has occurred. We'll identify these zones to anticipate potential reversals or trend continuations. Trend Reversal: Recognizing signs of a trend reversal is vital for shorting gold effectively. We'll analyze various technical indicators and chart patterns to identify potential shifts in the trend direction. By combining these elements in our analysis, we aim to provide you with a comprehensive trading strategy for buying gold that maximizes profit potential while minimizing risk. Keep a close eye on these factors and stay prepared for potential market moves. Remember to perform your due diligence and risk management before executing any trades
OANDA:XAUUSDLong
by KarolinaKanova
Gold Has Entered a New UptrendIn this trading idea, we'll explore a potentially profitable strategy for buying gold by utilizing a combination of technical analysis tools. We'll focus on key factors such as critical support levels, Fibonacci retracement levels, order blocks, and trend reversals. Support Levels: We'll closely monitor important support levels on the gold chart. These levels often act as significant barriers for price movement. A break below these levels can indicate a potential trend reversal or a strong bearish sentiment. Fibonacci Levels: Fibonacci retracement levels are essential for identifying potential reversal zones. We'll use Fibonacci analysis to pinpoint key levels where price may encounter resistance or support, offering valuable entry and exit points. Order Blocks: Understanding order blocks is crucial for spotting areas where significant buying or selling activity has occurred. We'll identify these zones to anticipate potential reversals or trend continuations. Trend Reversal: Recognizing signs of a trend reversal is vital for shorting gold effectively. We'll analyze various technical indicators and chart patterns to identify potential shifts in the trend direction. By combining these elements in our analysis, we aim to provide you with a comprehensive trading strategy for buying gold that maximizes profit potential while minimizing risk. Keep a close eye on these factors and stay prepared for potential market moves. Remember to perform your due diligence and risk management before executing any trades
OANDA:XAUUSDLong
by KarolinaKanova
Dark Pool Buy Zone Signals: AEISNASDAQ:AEIS was one of the darlings of the '90s. So much fun to swing trade this stock. It is now moving up to test the all-time highs of 2021. Electronic Components are cyclical stocks typically with huge revenues ahead of holidays, school openings and summertime. The cycle is starting again. Notice that Volume Oscillators and Money Flow indicators are rising from the bottom of the chart. This pattern has been very reliable in determining the end of the run down this year. Many stocks have this pattern at the moment. This signals the Buy Zone.
NASDAQ:AEISLong
by MarthaStokesCMT-TechniTrader
Striking Gold with long-Term TradesIn this trading idea, we'll explore a potentially profitable strategy for buying gold by utilizing a combination of technical analysis tools. We'll focus on key factors such as critical support levels, Fibonacci retracement levels, order blocks, and trend reversals. Support Levels: We'll closely monitor important support levels on the gold chart. These levels often act as significant barriers for price movement. A break below these levels can indicate a potential trend reversal or a strong bearish sentiment. Fibonacci Levels: Fibonacci retracement levels are essential for identifying potential reversal zones. We'll use Fibonacci analysis to pinpoint key levels where price may encounter resistance or support, offering valuable entry and exit points. Order Blocks: Understanding order blocks is crucial for spotting areas where significant buying or selling activity has occurred. We'll identify these zones to anticipate potential reversals or trend continuations. Trend Reversal: Recognizing signs of a trend reversal is vital for shorting gold effectively. We'll analyze various technical indicators and chart patterns to identify potential shifts in the trend direction. By combining these elements in our analysis, we aim to provide you with a comprehensive trading strategy for buying gold that maximizes profit potential while minimizing risk. Keep a close eye on these factors and stay prepared for potential market moves. Remember to perform your due diligence and risk management before executing any trades.
FXOPEN:XAUUSDLong
by KarolinaKanova
Gold BuyOANDA:XAUUSD for Gold there is a scenario like Gold has given us an impulse to the downside and it hasn't corrected it self so we can expect a correction of this impulse to minimum 38.2% of Fibonacci levels which is almost 1857 if it goes for correction then our target is 1844-1857 and if it goes the other way it will be a Drop base Drop will be if it rejects over 1831 level then the scenario could be 1786 level of support but sell possiblity is lesser than buy because it has made an M pattern over daily weekly time frame which could possibly be corrected over 38.2% so we will Put some of our eggs 🥚 in Buy basket 🧺
OANDA:XAUUSDLong
by Wakeel_Saab