Get started

GC1! (Gold Futures)

GOLD trend remains positive, data week is lightDue to weaker-than-expected US employment data and market expectations of interest rate cuts, OANDA:XAUUSD increased more than 1% at the beginning of last week's trading session when the market took profit. As tensions in the Middle East lead to increased safe-haven demand and expectations of interest rate cuts by the Federal Reserve, gold has become more attractive to investors. It is up 2.35% this week, showing an overall uptrend. Federal Reserve Chairman Jerome Powell said Wednesday that the Fed could cut interest rates as early as September if the U.S. economy grows as expected. Gold is seen as a hedge against geopolitical and economic risks, with lower interest rates reducing the opportunity cost of holding the asset and making gold attractive. The latest US Department of Labor released jobs data and 114,000 new workers were added in July, less than the 175,000 expected. The previous data was revised down from 206,000 to 179,000. The data also showed the unemployment rate rose from 4.1% to 4.3% and average hourly earnings fell by a tenth from 0.3% to 0.2%. According to CME Group's FedWatch tool, markets now see a 22% chance the Fed will cut interest rates by 50 basis points on September 18, up from 12% previously. The market shows that the Fed will cut interest rates by 86 basis points at the remaining 3 meetings this year. Tensions in the Middle East increased, demand for gold as a safe haven increased, and Hamas leader Haniyeh was assassinated in Iran, leading to further escalation of conflict. Haniyeh was killed in the Iranian capital after attending the inauguration of the new Iranian president, and both Iranian and Hamas officials blamed Israel for the attack. These developments further support gold prices as investors seek safe haven assets amid uncertainty. In terms of short-term forecasts, gold is expected to maintain its bullish trend, driven by risk aversion and dovish Federal Reserve policies. Geopolitical tensions and weak US economic data will support gold prices, Another piece of data to note is U.S. Commodity Futures Trading Commission (CFTC) data showing that for the week ending July 30, speculative net long positions in COMEX gold futures contracts were reduced by 9,535 lots to 188,909 lots; Futures contracts decreased by 9,535 lots to 188,909 lots. Economic data and events to watch out for next week Focusing on the market next week, investors will pay attention to the following important events. Monday: ISM Services PMI: to be released on Monday, will provide the market with more information on the state of the services sector in the US. Tuesday: Reserve Bank of Australia monetary policy decision: will be announced on Tuesday and investors will closely monitor its impact on the global monetary policy environment. Wednesday and Thursday: U.S. Bond Auctions: Wednesday and Thursday's 10-year and 30-year Treasury auctions will be closely watched, especially after the strong gains of the bond market this week. Analysis of technical prospects for OANDA:XAUUSD Gold corrects after approaching target level at all-time peak. Note to readers in previous publications that the only closest resistance level was found technically. However, the profit-taking motivation did not cause gold to correct longer, while the support level at the confluence of EMA21 and the 0.382% Fibonacci retracement pushed gold prices to recover above the 0.236% Fibonacci, which should be considered a positive signal for gold prices. On the daily chart, the near-term target for gold prices will still be highlighted by the all-time high, price point of $2,484. As long as gold remains above the EMA21 and within the trend price channel, its technical outlook remains bullish and notable technical levels are listed below. Support: 2,431 – 2,408USD Resistance: 2,484 – 2,452USD 🪙SELL XAUUSD | 2461 - 2459 ⚰️SL: 2465 ⬆️TP1: 2454 ⬆️TP2: 2449 🪙BUY XAUUSD | 2494 - 2496 ⚰️SL: 2490 ⬆️TP1: 2401 ⬆️TP2: 2406
OANDA:XAUUSD
by Xayah_trading
GOLD recovered after a large correctionOANDA:XAUUSD recovered to above the original price of 2,400 USD after suffering a general decline in the market during the bloody trading session on August 5. In general, in terms of basic and technical trends, the uptrend for gold prices is still will prevail. Investors flocked to safe-haven assets and bet that the Federal Reserve now needs to sharply cut interest rates to spur economic growth. In addition, geopolitical developments in the Middle East are showing more and more signs that escalation is also a huge driving force for gold prices. Economic data US services sector activity recovered in July Activity in the U.S. services sector rebounded from a four-year low in July as orders and employment increased, data showed. The services sector expanded again in July, exiting its worst recession in four years, which may help ease fears of a widespread economic slowdown. The Institute for Supply Management's (ISM) comprehensive services industry index rose 2.6 points to 51.4, above 50, the index's key boundary. The July data was slightly higher than the average forecast of economists surveyed. The index was boosted by a rebound in services employment, orders and business activity, showing modest growth in the services sector, the economy's biggest pillar. Previously, US Department of Labor data released on Friday showed the unemployment rate rose to a nearly three-year high of 4.3% and job growth slowed significantly. The jobs report increases the likelihood that the Federal Reserve will make more aggressive interest rate cuts before the end of the year. According to CME's FedWatch tool, a 50 basis point interest rate cut by the Federal Reserve in September is certainly imminent. The data also showed that the Federal Reserve is expected to cut lending rates by more than 100 basis points this year. Political geography Gold prices remain significantly supported by rising geopolitical tensions and growing concerns about a global economic slowdown. The conflict in the Middle East appears to have widened, with Iran-backed Hezbollah saying it fired multiple missiles at Israel on Saturday in retaliation for an Israeli airstrike in Tehran aimed at assassinating Hamas leader Ismail Haniyeh. In terms of fundamentals, geopolitical tensions have increased gold's appeal as a safe-haven asset. Analysis of technical prospects for OANDA:XAUUSD Gold recovered significantly after suffering a large correction yesterday with another retest of the 0.618% Fibonacci retracement level. Currently, keeping price activity above the $2,400 raw price is a positive signal for gold prices and staying above EMA21 opens up the prospect of a more extended upside with a short-term target around 2,431 – 2,437 USD. Looking at the overall picture, the structure for the uptrend of gold prices has not been affected with the price channel being the main trend in the medium term. During the day, the technical outlook for gold prices is bullish with notable price levels listed below. Support: 2,408 – 2,400 – 2,385USD Resistance: 2,431 – 2,437USD 🪙SELL XAUUSD | 2426 - 2424 ⚰️SL: 2430 ⬆️TP1: 2419 ⬆️TP2: 2414 🪙BUY XAUUSD | 2394 - 2396 ⚰️SL: 2390 ⬆️TP1: 2401 ⬆️TP2: 2406
OANDA:XAUUSD
by Xayah_trading
GOLD → A retest of trend support. ISM PMI ahead...FX:XAUUSD is moving into the correction phase amid unstable fundamental environment. The price of the metal is declining towards the rather important zone of 2420, which has shown itself more than once. Fundamentally, the market is in fear because of possible recession, which may become a motivation for the Fed to take hasty actions and more aggressive easing of monetary policy Rumors are emerging about a possible emergency FED meeting in the near future. Not to forget gold as a hedge asset, which continues to feel supported in volatile times. Speculators are cautious and refrain from premature actions ahead of the ISM services PMI data and the tense situation in the Middle East. Support levels: 2419,6, 2403, 2382 Resistance levels: 2451, 2474 Technically, gold is at a strong support at 2419 and judging by the reaction of the price to the level, the buyers are acting quite aggressively, trying to hold the market. Against this background, the price may strengthen to the nearest resistance 2430, 2445, 2450, but if the price starts to return to 2419, forming a quick retest, it will increase the chances of a possible breakdown of the bullish channel and further decline to the zone of interest and liquidity. Rate, share your opinion and questions, let's discuss what's going on with ★GOLD ;) Regards R. Linda!
FX:XAUUSD
by RLinda
17
GOLD heads to era levels, pay special attention to NFPOANDA:XAUUSD continues to trade with an uptrend, heading towards all-time levels as markets eye upcoming US nonfarm payrolls data, to be released today (Friday) this week. FED Although the US Federal Reserve kept interest rates unchanged at its policy meeting on Wednesday, Chairman Jerome Powell said rates could be cut in September if the US economy grows as expected. Recent economic data supports interest rate cuts, but Fed officials remain skeptical about the reflation process and say they want to see more data. According to CME's "Fed Watch" data, the probability of the Fed cutting interest rates by 25 basis points in September is 70% and the probability of cutting interest rates by 50 basis points is 29.5%. As an effective traditional economic and geopolitical risk hedge, gold typically performs well and finds support in low interest rate environments. In terms of economic data US ISM manufacturing data fell for a fourth straight month and initial jobless claims rose last week, again raising concerns that the US economy could fall into recession . According to data released by the U.S. Department of Labor on Thursday, initial jobless claims rose from 14,000 to 249,000 in the week ended July 27. The survey forecast was for 236,000. The Institute for Supply Management (ISM) reported Thursday that the ISM manufacturing index fell 1.7 to 46.8 in July. A reading below 50 indicates industry activity is contracting. The latest data was weaker than all surveys expected. Traders now await Friday's US jobs report for further direction on Fed policy. It is expected that the US will create 175,000 new jobs in July and the unemployment rate is expected to remain at 4.1%. If non-farm data falls short of expectations, the US dollar could suffer, thereby stimulating further gold price increases. Political geography According to many sources, Iran may attack Israel in retaliation for the assassination of Hamas political leader Ismail Haniyeh in Tehran earlier this week. The United States is preparing for an Iranian attack on Israel in the coming days. We need to remember the time in 2019 when Iran also attacked Israel in retaliation for the assassination of the leader of Iran's special forces, and at this time gold increased significantly. Iran's Supreme Leader Ayatollah Ali Khamenei and other senior Iranian political and military officials said Iran would retaliate for Haniyeh's assassination. A senior Israeli official said the Israeli intelligence community predicted Iran would launch a large-scale missile attack on Israel. Analysis of technical prospects for OANDA:XAUUSD After gold fell and received support from the 0.236% Fibonacci retracement area it recovered and continued the main uptrend approaching all-time levels. Note to readers in yesterday's edition. In the short term, there is no more notable level of technical resistance than the all-time high at $2,484, while the closest support is at $2,437 and the main trend is an uptrend highlighted by the channel. price and moving average EMA21. In addition, the relative strength index (RSI) is pointing up, showing that the momentum and room for price increases are still wide. As long as gold remains above $2,437, it still has short-term upside prospects. Meanwhile, even if sold below the 0.236% Fibonacci retracement level, the downward momentum will still be limited by the confluence of support from EMA21 and Fibonacci 0.382%. During the day, the technical outlook for gold prices continues to be bullish with notable technical levels listed as follows. Support: 2,437 – 2,431USD Resistance: 2,484USD 🪙SELL XAUUSD | 2476 - 2474 ⚰️SL: 2480 ⬆️TP1: 2469 ⬆️TP2: 2464 🪙BUY XAUUSD | 2420 - 2422 ⚰️SL: 2416 ⬆️TP1: 2427 ⬆️TP2: 2432
OANDA:XAUUSD
by Xayah_trading
GOLD price slipped because investors took profitsOANDA:XAUUSD decreased during the trading session on Friday (August 2), because investors took profits after this precious metal had a sharp increase in price during the trading session. Analysts believe that gold prices may soon exceed 2,500 USD/oz because the risk of a US economic recession may cause the Federal Reserve (Fed) to cut interest rates more strongly than expected. However, gold prices have risen 1.8% this week as demand for hedging increases amid heating geopolitical tensions in the Middle East and investor expectations that the Fed will cut interest rates next year. September - a move that will create a more favorable environment for gold prices. According to the latest statistics, the US job market decelerated stronger than expected and the unemployment rate increased to the highest level since October 2021. The nonfarm payrolls report from the US Department of Labor showed that the number of new jobs in the month was 179,000 jobs, compared to the number of 185,000 new jobs that economists reported in a survey by the firm. Dow Jones news. The unemployment rate increased to 4.3% from 4.1% previously. The report caused US Treasury bond prices to increase sharply while the USD exchange rate plummeted, creating support for gold prices, helping this precious metal avoid the risk of a deep decline due to profit-taking pressure. Along with that, the USD dropped sharply, with the Dollar Index falling 1.15%, closing the week at 103.22 points. This is the lowest level of this index since March. All week, the Dollar Index decreased 1.05%. This week, an important driving force for gold prices was Fed Chairman Jerome Powell's announcement on Wednesday that interest rates could be cut as soon as September if the US economy performed as expected. With the recently released gloomy employment report, many experts believe that the Fed may have to reduce interest rates by 0.5 percentage points at the September meeting, instead of 0.25 percentage points.
OANDA:XAUUSD
by Xayah_trading
GOLD increased strongly after FOMC, pay attention to NFPAfter the Federal Reserve decided to keep interest rates unchanged, OANDA:XAUUSD surged toward all-time highs. Federal Reserve Chairman Jerome Powell suggested that US jobs data will begin to play an important role in setting monetary policy. Economic data U.S. economic data showed private hiring slowed in July, according to ADP's latest jobs change report. Additionally, building permits improved after a decline in May, while the Employment Cost Index (ECI), which the Fed uses to measure wage inflation pressures, fell in the second quarter. year 2024. FOMC The Federal Reserve once again decided to keep its policy interest rate unchanged at 5.25%-5.5%. This is the 8th consecutive meeting of the Federal Reserve without adjusting interest rates. Powell said deflation has “extended” and noted downside risks to the labor market. “We think the current labor market is unlikely to be a source of inflationary pressure,” Powell added, saying that if they see a decline in the job market, “we will respond.” Following these comments, Friday's July nonfarm payrolls report will be a key link in the Fed's move to focus more on employment. After Powell's speech, market participants were pricing in a 70 basis point (bps) interest rate cut later this year. Fed policy statement In their monetary policy statement, Fed officials noted that "The Committee believes it would be inappropriate to lower the target range until there is greater confidence that inflation is moving toward 2% sustainably and the risks associated with dual mandates have become more balanced.” Traders should pay special attention to the ISM manufacturing purchasing managers index (PMI) data for July and nonfarm payrolls (NFP), which will be released on Thursday and Friday. Geopolitical risks escalate Regarding the situation in the Middle East, the New York Times reported on Wednesday that three Iranian officials said Iran's Supreme Leader Ayatollah Ali Khamenei ordered Iran to attack Israel directly in retaliation for the leader's murder. Hamas Haniyeh in Tehran. Iran and Hamas accused Israel of carrying out the assassination. The report indicates that three Iranian officials, including two members of the Revolutionary Guard, said Khamenei issued the order at an emergency meeting of Iran's Supreme National Security Council this morning. Wednesday. Not long ago, Iran announced that Haniyeh had been killed. Analysis of technical prospects for OANDA:XAUUSD After gold increased significantly, reaching the target level at 2,437 USD and breaking this level, the gold price is now fully qualified to move towards an all-time peak. The current correction cycle has technically ended with the closest support for gold prices being noticed at the 0.236% Fibonacci retracement point. The main trend is noticed with the price channel and the 21-day moving average (EMA21). As long as gold remains above the 0.236% Fibonacci retracement level, it still has enough room to rise in the short term with the target level being an all-time high. Meanwhile, even if gold corrects below $2,437, the decline will be limited by the confluence of the Fibonacci 0.382% and EMA21. During the day, gold's technical outlook is bullish with notable technical levels listed below. Support: 2,437 – 2,408USD Resistance: 2,484USD 🪙SELL XAUUSD | 2475 - 2473 ⚰️SL: 2479 ⬆️TP1: 2468 ⬆️TP2: 2463 🪙BUY XAUUSD | 2420 - 2422 ⚰️SL: 2416 ⬆️TP1: 2427 ⬆️TP2: 2432
OANDA:XAUUSD
by Xayah_trading
1
XAUUSD Bull Cycle still intact, targeting above $3000Exactly 4 months ago (April 04, see chart below), we made a long-term bullish call on Gold (XAUUSD), after it confirmed the new Bull Cycle: The consolidation that followed and successfully double bottomed like the November 2019 Support bounce, is now over and Gold has started the 2nd phase of this Bull Cycle. In March 2020 we had the Black Swan event of the COVID crash, and if we avoid such a danger again, we expect the bullish trend to continue. The last Cycle's peak (August 03 2020) was just below the 3.0 Fibonacci extension. This gives us a rough Target of $3100, but of course this can be revised as we go, depending on the global macroeconomics and geopolitics. Note also that the last Cycle's peak was formed when the 1W RSI made its 3rd overbought top above 70.00. ------------------------------------------------------------------------------- ** 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. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
FX_IDC:XAUUSDLong
by TradingShot
Gold Faces Critical Resistance: Will the Bull Run Continue?Chart Overview Timeframe: 1-hour chart Exchange: OANDA Current Price: 2444.100 Key Levels and Zones 4HR LQZ: 2474.524 1HR LQZ: 2370.122 Support Level: 2348.660 Key Low: 2287.754 Patterns and Channels Descending Channel: The price moved within a descending channel before breaking out. Lower Highs (LH) and Lower Lows (LL) formed within this channel. Ascending Channel: The price moved into an ascending channel after breaking out of the descending channel. Higher Lows (HL) and Higher Highs (HH) are visible, indicating a potential upward trend. Current Price Action Recent Higher High (HH): Price reached a higher high at the top of the ascending channel. Potential Lower High: There is a possibility of forming a new lower high, as indicated by the recent price action near the 4HR LQZ. Rejection at 4HR LQZ: The price touched the 4HR LQZ and showed signs of rejection, pulling back slightly. Inset Chart: DXY The inset chart displays the DXY (US Dollar Index), which shows a descending pattern, potentially indicating USD weakness. This is relevant because gold often inversely correlates with the USD. Market Sentiment Bullish Signs: The breakout from the descending channel. Formation of the ascending channel with higher highs and higher lows. Bearish Signs: Rejection at the 4HR LQZ. Potential formation of a new lower high, indicating possible weakness or a reversal in the uptrend. Summary The XAUUSD chart shows a recent breakout from a descending channel and the formation of an ascending channel, suggesting a short-term bullish trend. However, the price faced rejection at the 4HR LQZ and is showing signs of forming a potential new lower high, which could indicate a reversal or consolidation phase. Monitoring key levels and market sentiment (especially USD movements) will be crucial for future price action.
OANDA:XAUUSD
by Adlercon333
GOLD MARKET ANALYSIS AND COMMENTARY - [29 July - 02 August]This week, the international gold price increased from 2,383 USD/oz to close to 2,432 in the first 2 trading sessions of the week, but then continuously decreased, at one point down to 2,353 USD/oz. After that, gold prices recovered and closed the week at 2,387 USD/oz. Gold prices decreased in the last sessions of this week as investors took profits from profitable positions, because they are still concerned about short-term risks when the Central Bank of China has still temporarily stopped buying gold in the past 2 months. Next week, there are two factors that are likely to have a strong impact on gold prices: the FED's July meeting taking place on Thursday and the US non-farm payrolls (NFP) report being released on Friday. In particular, the FED will definitely keep interest rates at the current level. However, what the market is interested in is whether FED Chairman Jerome Powell will change his tone on monetary policy direction. With the recently released US economic data, it is likely that the FED Chairman will still support the plan to cut interest rates in September. This may support gold prices next week. Technically, on the H4 chart, you need to pay attention to two resistance levels, with support established around 2350, while resistance is at 2430. Next week, if the support level 2350 is broken, it is likely Gold price falls to the 2300 level. If the basic information supports the gold price, we need to see the gold price exceed 2430 to maintain the upward momentum. Notable technical levels are listed below. Support: 2,300 – 2,323 – 2,350USD Resistance: 2,475 – 2,430USD 📌The short-term trading plan for next week will be to sell around 2431, buy around 2323. Then continue to wait to sell around 2475, wait to buy around 2300.
OANDA:XAUUSD
by Xayah_trading
2
Middle East escalates, GOLD recovery limited by 2,400 USDWhen tensions in the Middle East suddenly escalated over the weekend, after the opening of the Asian trading session on Monday (July 29), spot gold prices jumped by 15 USD in the short term and gold prices sometimes exceeded past the mark of 2,400 USD/ounce. On July 27, a rocket attack hit a soccer field in Megidar Shams, a town in the Israeli-controlled Golan Heights, killing 12 children and teenagers playing soccer. 44 others were injured. This was Israel's worst civilian loss since Hamas launched attacks on villages and military bases in southern Israel from the Gaza Strip last October. On the night of July 28, local time, the Israeli Prime Minister's Office issued a statement saying that after a 4-hour meeting, the Israeli government's Security Cabinet meeting ended late at night on the 28th and the meeting authorized Israeli Prime Minister Netanyahu and the Prime Minister of Israel. Despite recent volatility, gold maintains its underlying bias toward solid gains as markets increasingly expect the Federal Reserve to cut interest rates by the end of the quarter. According to CME's FedWatch tool, the market has fully priced in a September rate cut. The latest inflation data won't stop the Federal Reserve from cutting interest rates in September. The Fed is increasingly expected to lay the groundwork for a rate cut in September, at least at its meeting on this week. While the Federal Reserve's monetary policy meeting will be the main economic event this week, some attention will also be directed to the U.S. Department of Labor due to July nonfarm payrolls data. announced on Friday. In addition to cooling inflation, expectations of slowing growth in the US labor market will cause the Federal Reserve to lower interest rates before the end of the year. The Fed is not the only central bank holding a monetary policy meeting this week. The Bank of England will announce its interest rate decision on Thursday, with market expectations that the central bank will also cut interest rates. Meanwhile, the Bank of Japan will hold a monetary policy meeting later on Tuesday. Notable economic data and events Tuesday: US consumer confidence; JOLTS Jobs; Monetary policy decisions of the Bank of Japan Wednesday: ADP Nonfarm Payrolls; US Pending Home Sales, Thursday: Bank of England monetary policy decision; US weekly unemployment claims, ISM manufacturing PMI Friday: US nonfarm payrolls Analysis of technical prospects for OANDA:XAUUSD Although gold has recovered, temporary gains are still limited by the original price level of 2,400 USD, which is also noted as an important target resistance level. For the gold price to have adequate conditions for upside, it needs to break above the $2,400 technical level and the next targeted target level at $2,408 in the short term, more so than the $2,437 price point. of Fibonacci retracement 0.236%. Temporarily, gold is not yet qualified to form a complete bullish cycle, while once gold falls below the 0.50% Fibonacci retracement level it will tend to retest the 0.618% Fibonacci level, and a Once the $2,362 level is broken below, a new bearish cycle is likely with a target around $2,329. During the day, the technical outlook for gold prices leans more to the downside with conditions for a new bullish cycle noted above. Notable technical levels are listed below. Support: 2,385 – 2,378 – 2,362USD Resistance: 2,400 – 2,408USD 🪙SELL XAUUSD | 2414 - 2412 ⚰️SL: 2418 ⬆️TP1: 2407 ⬆️TP2: 2402 🪙BUY XAUUSD | 2377 - 2379 ⚰️SL: 2373 ⬆️TP1: 2384 ⬆️TP2: 2389
OANDA:XAUUSD
by Xayah_trading
GOLD has more technical pressure, ready for major eventsOn Wednesday, the Federal Reserve will conclude its two-day meeting and announce its interest rate decision. The market generally believes that this meeting will not make a decision to cut interest rates but will provide guidance for an interest rate cut in September. The fact that the Fed will not cut interest rates at the upcoming meeting has been fully priced in by the market, so interest rate guidance in September and the end of the year will be the focus of this FOMC meeting. Traders prepare for a series of market events, in addition to a midweek policy decision from the Federal Reserve, decisions from the Bank of Japan and the Bank of England, as well as the nonfarm payrolls report. The US economy on Friday will also have a significant impact on the general market and the gold market in particular. In Asian markets on July 30, OANDA:XAUUSD recovered from the $2,378 level noted by readers in the weekly edition, but overall it needs to recover much more strongly to be able to get the conditions for Expectations of a new bullish cycle. The point worth noting is that the original price level of 2,400 USD will be the nearest resistance and is also very important. If gold breaks and maintains above this level, it will have enough conditions to technically increase in price. The target level after breaking $2,400 is $2,408 in the short term and more likely is $2,437. Meanwhile, currently, the gold price still has a more bearish position with initial resistance from EMA21 and the lower edge of the price channel and the 0.50% Fibonacci retracement level at 2,385 USD. Once gold is sold below the 0.618% Fibonacci level, it will open a new downtrend with the target level then being around 2,329USD. On the other hand, the Relative Strength Index has not yet reached the oversold level, showing that there is still room to decline. During the day, the current position is heavily tilted to the downside with notable technical levels listed below. Support: 2,378 – 2,362USD Resistance: 2,385 – 2,390 – 2,400USD 🪙SELL XAUUSD | 2419 - 2417 ⚰️SL: 2423 ⬆️TP1: 2412 ⬆️TP2: 2407 🪙BUY XAUUSD | 2351 - 2353 ⚰️SL: 2347 ⬆️TP1: 2358 ⬆️TP2: 2363
OANDA:XAUUSD
by Xayah_trading
1
GOLD fell slightly after reaching initial target, FOMC, PowellOANDA:XAUUSD decreased slightly after a significant recovery period, at the Asian trading session on July 31, gold decreased slightly from the Fibonacci level of 0.382% to 2,405USD/oz, equivalent to a decrease of about 0.25% on the day. Middle East News On the evening of July 30 local time, an Israeli drone attacked a Hezbollah target in the southern suburbs of Beirut, the capital of Lebanon. It is known that the drone fired 3 missiles, causing a building to collapse. Currently, attacks in the southern suburbs of the Lebanese capital have left 3 people dead and 74 others injured. The Israeli military announced it killed a top Hezbollah commander in an airstrike in Beirut on Tuesday in retaliation for a cross-border rocket attack three days ago. As sent to readers in the weekly edition, new points are emerging in the Middle East situation, and escalating geopolitical risks are always a potential motivating support for shelter demand. safe. Pay attention to the FOMC and Jerome Powell The Federal Reserve's two-day meeting ends Wednesday's trading session, with markets expecting the central bank to leave interest rates unchanged but could signal policy easing as early as September. At 01:00 Hanoi time on Thursday, the US Federal Open Market Committee (FOMC) will announce its interest rate decision, at 01:30 the same day, Federal Reserve Chairman Jerome Powell will hold a press conference on monetary policy. Investors will need to closely scrutinize the Fed's policy statement and comments from Fed Chairman Jerome Powell for any information that supports expectations of the first rate cut in September. Previously, on July 15, Federal Reserve Chairman Powell gave a dovish signal during an interview at an event at the Economic Club of Washington. Powell said second-quarter economic data gives policymakers more confidence that inflation is falling toward the Fed's 2% target. The comments could pave the way for interest rate cuts in the near future. At that time, Powell indicated that he would not wait until inflation reached the 2% target to cut interest rates, because the impact of monetary policy has a lag, and keeping interest rates too high for a long time will cause problems. Excessive inhibition for the economy. He further explained that if we wait until inflation reaches the 2% target to cut interest rates, we may have to wait too long because the tightening monetary policy is currently being applied, or the current tightening policy will still continue. impact and can push the inflation rate below 2%. Analysis of technical prospects for OANDA:XAUUSD Although gold has surpassed the original price level of 2,400 USD, after reaching the initial target level, please pay attention to the weekly publication at 2,408 USD, the price point of the Fibonacci retracement of 0.382%, and the upward momentum. The price of gold is also limited by this level. In the immediate future, keeping above the original price of 2,400 USD will be a positive signal for gold. But for gold prices to qualify for a longer bull run it needs to break above the 0.382% Fibonacci retracement level then target around $2,437. In the short term, gold will be supported by the 21-day moving average (EMA21) and the lower edge of the price channel. During the day, the trend of gold prices is providing the conditions for a bullish outlook and notable technical points are listed as follows. Support: 2,400 – 2,390 – 2,385USD Resistance: 2,408 – 2,437USD 🪙SELL XAUUSD | 2434 - 2432 ⚰️SL: 2438 ⬆️TP1: 2427 ⬆️TP2: 2422 🪙BUY XAUUSD | 2387 - 2389 ⚰️SL: 2383 ⬆️TP1: 2394 ⬆️TP2: 2399
OANDA:XAUUSD
by Xayah_trading
GOLD → Correction before the bullrun. Target 2500?FX:XAUUSD is strengthening and testing 2450. The price rise was influenced by Powell's comments on progressive deflation and a possible rate cut in September, as well as another conflict in the Middle East.... The Fed left the rate unchanged for the 8th time at 5.5%. The rate has remained unchanged since the summer of 2023 and is the highest in 20 years. There was considerable discussion of a rate cut at this meeting. A rate cut may be considered in September. In addition, the intensification of the conflict in the Middle East may turn into a full-fledged war, which generally increases the interest in gold. Today is also a busy news day. Initial Jobless Claims, SP PMI, ISM are ahead. The data also plays an important role in shaping the medium-term strategy, so it is important to evaluate the actual results. Resistance levels: 2437, 2450 Support levels: 2430, 2421 After a false breakdown of resistance, a correction is forming. Gold is bullish at the moment (trend, sentiment and interest), so the nearest strong support may become a reversal zone for further strengthening. The potential target is 2451 - 2474. Rate, share your opinion and questions, let's discuss what's going on with ★GOLD ;) Regards R. Linda!
FX:XAUUSDLong
by RLinda
6
Gold Price Explosion? Key Patterns Indicating Major Moves Ahead!Technical Breakdown of XAUUSD Overview The chart presents the price action of Gold Spot (XAUUSD). Key technical patterns and significant support/resistance levels are highlighted to provide insights into potential price movements. Key Patterns and Levels Descending Channel: The price previously moved within a descending channel, marked by lower highs (LH) and lower lows (LL), indicating a downtrend. The breakout from the descending channel suggests a potential shift in momentum from bearish to bullish. Support/Resistance Levels: HTF (Higher Time Frame) Support/Resistance: A crucial level providing a foundation for significant price movements, shown with blue lines. LTF (Lower Time Frame) Support/Resistance: A lower time frame level within the channel, highlighting short-term price actions. 1HR Double Top: A resistance level around 2458.3 where the price is currently facing a decision point. Bullish Patterns: 3 Touch Flag: A bullish flag pattern with three touches indicating potential continuation if the price breaks above the resistance. Daily Bull Flag: A larger time frame bull flag pattern suggests a bullish continuation if the price breaks above the upper boundary. Liquidity Zones: Weekly LQZ: A liquidity zone around 2484, which acts as a significant resistance level. Daily LQZ: A zone around 2348.8 providing a major support level. Current Market Conditions: The price is currently testing the 1HR double top resistance. A rejection at this level could indicate a potential short position, while a clear break above could confirm a long position. Trading Strategy: Wait for Confirmation: Traders should wait for a clear rejection or break above the 1HR double top to determine the direction of their positions. Monitor Key Levels: Keep an eye on the support/resistance levels and liquidity zones to gauge potential price movements and market sentiment. Conclusion: Gold is at a critical juncture with significant patterns indicating possible major moves ahead. Traders should closely monitor the 1HR double top and key support/resistance levels to make informed trading decisions.
OANDA:XAUUSD
by Adlercon333
2
Gold Price Explosion? Key Patterns Indicating Major Moves Ahead!Technical Breakdown of XAUUSD Overview The chart presents the price action of Gold Spot (XAUUSD). Key technical patterns and significant support/resistance levels are highlighted to provide insights into potential price movements. Key Patterns and Levels Descending Channel: The price previously moved within a descending channel, marked by lower highs (LH) and lower lows (LL), indicating a downtrend. The breakout from the descending channel suggests a potential shift in momentum from bearish to bullish. Support/Resistance Levels: HTF (Higher Time Frame) Support/Resistance: A crucial level providing a foundation for significant price movements, shown with blue lines. LTF (Lower Time Frame) Support/Resistance: A lower time frame level within the channel, highlighting short-term price actions. 1HR Double Top: A resistance level around 2458.3 where the price is currently facing a decision point. Bullish Patterns: 3 Touch Flag: A bullish flag pattern with three touches indicating potential continuation if the price breaks above the resistance. Daily Bull Flag: A larger time frame bull flag pattern suggests a bullish continuation if the price breaks above the upper boundary. Liquidity Zones: Weekly LQZ: A liquidity zone around 2484, which acts as a significant resistance level. Daily LQZ: A zone around 2348.8 providing a major support level. Current Market Conditions: The price is currently testing the 1HR double top resistance. A rejection at this level could indicate a potential short position, while a clear break above could confirm a long position. Trading Strategy: Wait for Confirmation: Traders should wait for a clear rejection or break above the 1HR double top to determine the direction of their positions. Monitor Key Levels: Keep an eye on the support/resistance levels and liquidity zones to gauge potential price movements and market sentiment. Conclusion: Gold is at a critical juncture with significant patterns indicating possible major moves ahead. Traders should closely monitor the 1HR double top and key support/resistance levels to make informed trading decisions.
OANDA:XAUUSD
by Adlercon333
GOLD → Ahead is 2430 and strong news. Going up to 2500?FX:XAUUSD overcomes trend resistance, forming a bullrun to the liquidity zone amid positive rumors. The price is testing 2430. Possible correction before the news. Today is a busy news day, high volatility is possible. Ahead of ADP Nonfarm, Chicago PMI and the most important last: Fed Interest Rate Decision and FOMC conference. Nobody is going to cut the rate today, but Powell may give a signal about interest rate reduction in the coming months on the background of slowing labor market growth. Traders evaluated the possible potential positively enough and rushed through 2390 to 2430. Technically, a retest of resistance is formed after quite a long time, liquidity may not let the price up the first time, respectively, a correction is possible before further growth. Resistance levels: 2429, 2452, 2474. Support levels: 2404, 2400 The fundamental and technical background is favorable, if something unpredictable does not happen today, gold may continue its recovery phase. But, pay attention to the news, as they will be published in a cascade and the temporary mood of the market may be volatile.... Rate, share your opinion and questions, let's discuss what's going on with ★GOLD ;) Regards R. Linda!
FX:XAUUSDLong
by RLinda
17
GOLD Breakout Imminent? Key Levels & Patterns to Watch Now!Technical Breakdown of XAUUSD Overview The chart depicts the price movement of Gold Spot (XAUUSD) against the US Dollar on the 1-hour timeframe, highlighting key technical patterns and support/resistance levels. The analysis aims to provide insights into potential price actions based on historical movements and current market conditions. Key Patterns and Levels Descending Channel: The price has been moving within a descending channel, characterized by lower highs (LH) and lower lows (LL). The channel is defined by two parallel trendlines (in white) that indicate a downtrend. The descending channel suggests bearish momentum as the price continues to make lower highs and lower lows. Support/Resistance Levels: Support/Resistance Inside Channel: A notable level within the channel where the price has repeatedly found support or resistance, marked by dashed horizontal lines. 4HR LQZ (Liquidity Zones): Two critical liquidity zones at 2447.5 and 2432.4, acting as major support and resistance levels. These zones are crucial as they represent areas where significant buying or selling activity has occurred. Highs and Lows: Higher High (HH): The highest point reached before the price entered the descending channel, indicating a peak in bullish momentum. Lower High (LH): The lower high within the descending channel, showing the continuation of the bearish trend. Daily Bull Flag: The price is approaching the upper boundary of a daily bull flag pattern (marked in yellow), suggesting a potential bullish breakout if the price can sustain above this level. Current Market Conditions: Support/Resistance Retest: The price recently tested the resistance level at 2474.9 within the 4HR LQZ and pulled back slightly, indicating the presence of sellers at this level. Potential Breakout: The price is attempting to break above the descending channel and the 4HR LQZ, which could signal a reversal of the downtrend if confirmed by sustained buying pressure. Additional Insights: Dollar Interaction: The inset chart shows the US Dollar index coming into a support/resistance level within its own channel, providing additional context to the gold movement. Market Sentiment: The overall market sentiment and external factors such as economic data releases and geopolitical events can also influence the price movement of gold. Conclusion: The XAUUSD is currently at a critical juncture, testing key resistance levels within a descending channel. A successful breakout above the 4HR LQZ and the descending channel could signal a bullish reversal, while failure to break these levels may result in continued bearish pressure.
OANDA:XAUUSDShort
by Adlercon333
GOLD rose 1% after US inflation dataGold prices increased 1% on Friday (July 26), as US Government bond yields fell due to optimism that the US Federal Reserve (Fed) will lower interest rates in September, after data showed that inflation in the US increased slightly in June. At the end of the trading session on July 26, the spot gold contract increased 1% to 2,388.05 USD/oz, after hitting the lowest level since July 9, 2024 on July 25. Gold futures contracts added 1.2% to 2,381 USD/oz. US economic data was mixed to weaker today, showing inflationary pressures and weakening economic activity, paving the way for the Fed to lower interest rates twice this year. Fed policymakers on July 26 got fresh evidence of progress in the fight against inflation, raising expectations that they will use next week's meeting to signal a rate cut. Rates start in September. Lower interest rates reduce the opportunity cost of holding non-yielding metals. The US Department of Commerce's Bureau of Economic Analysis said the personal consumption expenditures (PCE) price index in the US in June inched up 0.1% compared to the previous month, after remaining unchanged in May. After the inflation data, the 10-year US Government bond yield fell to its lowest level in a week. Meanwhile, physical demand in India, the world's second largest consumer, received a boost when the country reduced import taxes on precious metals earlier this week. Gold prices in India also surged to its highest level in a decade this week.
OANDA:XAUUSD
by Xayah_trading
Gold ready to rip to $2,495 - Breakouts all aroundA strong Cup and Handle formed, with a breakout of the downtrend lines. We also have a solid uptrend line since 25 July, keeping the price up (Safety). NATURE: (High Probability analysis) Price>20MA and 200MA My Daily target is $2,495. WIth Bitcoin's price rocketing (As per my last analysis) with Russia now stepping in to legalise along with the shady compnanies sifting out one by one, the safe havens are looking great for upside.
OANDA:XAUUSDLong
by Timonrosso
GOLD fell more than 1%, the bullish structure was threatenedEarly in the Asian trading session on July 25, OANDA:XAUUSD decreased more than 1%, as of the time the article was completed, gold was trading at 2,372USD, equivalent to a decrease of 25Dollar during the day. Former New York Fed President Dudley (who enjoys perpetual voting rights on the FOMC and is known as “the Federal Reserve's third in command”) wrote: I have long been in the “hold interest” camp. high yield for longer periods of time. But times have changed and things have changed now so I changed my mind. The Fed should cut interest rates, preferably at its interest rate meeting next week. Gold traders are now awaiting second-quarter US GDP data today (Thursday), as well as the latest personal consumption expenditures (PCE) price index on Friday, as this is the gauge Fed's preferred inflation. Reuters quoted sources as saying on Wednesday that the Bank of Japan may discuss whether to raise interest rates at its July 30-31 meeting and announce a plan to nearly halve its bond purchases. votes in the next few years. Although gold has been supported by news from India which has reduced import duties on gold and silver from 15% to 6%. But the main reason why gold prices are still being sold off is partly due to profit-taking motivation, and partly because the possibility of Trump's election will support the Dollar. Trump is known as the President with a gay tariff stance. harshly. The main factor currently supporting gold prices is market expectations that the Federal Reserve may actually decide to cut interest rates before September. Analysis of technical prospects for OANDA:XAUUSD On the daily chart, gold is trading at a very dangerous price position for bullish expectations. As the current price activity falls below most important supports from the trending price channel and the 21-day moving average (EMA21). Given its current position, gold is still likely to continue to sell off more towards the 0.618% Fibonacci retracement level, which is also the nearest support level. Meanwhile, the Relative Strength Index is pointing down but still quite far from the oversold point, showing that the room for price reduction is still quite comfortable. Gold can only have enough conditions to increase in price when it surpasses the area of ​​2,400 - 2,390 USD, which is also considered the current pressure area. During the day, gold has conditions to fall further with notable prices that will be listed again as follows. Support: 2,362USD Resistance: 2,385 – 2,390 – 2,400USD 🪙SELL XAUUSD | 2415 - 2413 ⚰️SL: 2419 ⬆️TP1: 2408 ⬆️TP2: 2403 🪙BUY XAUUSD | 2349 - 2351 ⚰️SL: 2345 ⬆️TP1: 2356 ⬆️TP2: 2361
OANDA:XAUUSD
by Xayah_trading
1
My Tape Reading for XAUUSD 4H CandleMy Tape reading Gold - 24h expiry on 4H Candles Posted a pin bar(inverted hammer) formation. We look to Sell at 2390 (stop at 2396.5) Our profit targets will be 2363.5 and 2357.5 Price Watch @North: 2406.0 / 2433.0 / 2438.0/2465/0/2473.0 Price Watch @South: 2363.0 / 2357.0 / 2327.0/2327.0 Risk Disclaimer The trade ideas beyond this page are for Education/informational purposes only and do not constitute investment advice or a solicitation to trade. Shunya.Trade does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit. You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy. This information is provided by Shunya.Trade, and is intended for general circulation only.
PEPPERSTONE:XAUUSD
by shoonya0000
GOLD → Retest resistance before a breakout. What's next?FX:XAUUSD has been strengthening since the opening of the session and is testing the 2400 zone. The market is getting bullish again, but at the same time it is at a strong resistance. The focus is on 2393.0. There is no news today and the overall situation is stable. Gold has no obvious reasons for a possible strong fall. Markets are waiting for the confirmation of the progression of US deflation with the subsequent hints on the soon reduction of interest rates. The fact itself is favorable for gold. Technically, the focus is on the edge of the range 2393. Consolidation of the price above this area may well influence further growth, but it is necessary to follow the descending resistance, because it will be difficult to pass this area from the first time. Resistance levels: 2400, 2430 Support levels: 2393, 2384, 2377 Technically and fundamentally everything is quite positive. We should expect a retest of resistance with subsequent growth, but it is not excluded that before the active recovery phase there may be a retest of support, for example: 2387, 2382 or 2377 Rate, share your opinion and questions, let's discuss what's going on with ★GOLD ;) Regards R. Linda!
FX:XAUUSDLong
by RLinda
16