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GC1! (Gold Futures)

GOLD increased slightly thanks to the weakening of USDWorld gold prices increased slightly thanks to the weakening of the greenback when the latest published economic report reinforced expectations that the US Federal Reserve (FED) will cut interest rates in March 2024. Data showed that US Gross Domestic Product (GDP) increased 4.9% in the third quarter, lower than expectations of 5.2% due to weaker consumer spending and imports than estimated, while applications Weekly unemployment benefits increased slightly. The market is expecting the FED to accelerate the process of cutting interest rates. Weaker GDP data caused the USD to fall 0.5%, while US 10-year Treasury yields are fluctuating near a 5-month low, pushing gold prices up. This morning, the USD-Index was at 101.84 points, the 10-year US Treasury bond yield increased to 3.905%, but was still at the lowest level in 5 months.
OANDA:XAUUSD
by Xayah_trading
XAUUSD This is what separates bullish from bearish.Gold is having a Channel Up as the dominant pattern, that only broke upwards during the non-technical candle of December 4th that made the new All Time High. At the moment it's been 6 straight sessions where it has failed to cross over Resistance (1) at 2048.50. Over this level we should expect bullish continuation. Below the MA50 (1d) which has held during both Higher Low formations, we should expect a bearish break out and the emergence of a Channel Down. Trading Plan: 1. Buy if the price crosses and closes above Resistance (1). 2. Sell if it closes below the MA50 (1d). Targets: 1. 2100 (Higher High on a +6.50% rise, like the previous Bullish leg). 2. 1935 (potential bottom of Channel Down and near Support (2)). Tips: 1. The RSI (1d) is basically printing the same sequence as the previous Bullish leg. It has to favor the uptrend. Please like, follow and comment!! Notes: Past trading plan:
FX_IDC:XAUUSD
by TradingBrokersView
GOLD → The market is waiting for news. Falling or rising?FOREXCOM:XAUUSD has been standing still for a few days, as well as the TVC:DXY . The market is waiting for today's news related to GDP and unemployment. What is the difficulty in determining the future direction of the price? Let's start with the fact that since last week the Fed destroyed the adequate price behavior for the medium term. The dollar, based on data, not rumors, should rise, gold should fall, but that is not the case. There is a possibility that this manipulation by the market maker to take more favorable positions before further movement in one direction or another. Today the US GDP and unemployment are published. Analysts expect GDP to remain flat at 5.2% and Initial Jobless Claims to rise from 202K to 214K (a generally bearish scenario for the dollar). If: GDP comes out lower than expected and Initial Jobless Claims higher than expected, the dollar could fall. Accordingly, if GDP rises and unemployment falls, the dollar will probably go up. The movement of the indices will affect the gold accordingly Resistance levels: 2038, 2050 Support levels: 2030, 2020 From the TA + fundamentals point of view, the market is confused, hence a sideways flat, which can be interpreted as neutral forces (obviously). There is a high probability that the dollar could still get stronger. In this case gold may test the resistance before further falling. But news is always unpredictable! Regards R. Linda!
OANDA:XAUUSD
by RLinda
24
GOLD quiet in the early morning trading session this morningWorld gold prices on December 21 turned down with spot gold down 10 USD to 2,030.2 USD/ounce. Gold futures last traded at 2,043.3 USD/ounce, down 8.8 USD compared to yesterday morning. The world gold market was quiet in the early morning trading session this morning as traders waited for a series of economic data at the end of the week to get new clues about the US Central Bank's monetary policy roadmap. The gold price trend is forecast to stabilize above 2,000 USD/ounce and mainly trade at higher levels considering geopolitical risks in the market, including the US election next year, which This could prompt money managers to increase gold in their portfolios. In the near term, gold could trade in a range of $1,950 to $2,150 per ounce, and the precious metal's price movements are driven by macroeconomic data and correlated expectations of a cut. Upcoming US interest rates as well as unexpected geopolitical risks. According to the bank, 2024 could be a positive year for gold amid the macroeconomic outlook as well as significant geopolitical and recessionary risks weighing on the global economy.
OANDA:XAUUSD
by Xayah_trading
GOLD → Consolidation against an unstable background FOREXCOM:XAUUSD continues to consolidate. The market is forming a range after the shakeout, manipulation by the frs, unstable fundamental environment. Let's get to the bottom of what's going on. The price is testing strong resistance on D1, but on the local timeframe both gold and TVC:DXY are in consolidation. Technically, the dollar is showing hints of possible growth, but the important news will be only tomorrow (December 21) and they are expected to be quite unstable. It is difficult to determine the outcome in advance, we will wait for the actual data. Gold is testing the resistance 2048 - 2050, the third retest on D1, but the price does not reach a few tens of points to the maximum. There can be many reasons for this, and one of the serious ones is building a limit barrier due to strong sellers. But again, the price has not yet tested 2050 (no touch). It may happen before a possible rebound. Now there is also a possibility that the market may try to break 2050 and enter the range of 2050 - 2075. We continue to watch this area. Resistance levels: 2048 - 2050 Support levels: 2038, 2030, 2020 From the point of view of range trading strategy, we should expect a fall after retesting the range resistance, as there is no actual trend and on the background of neutrality we can both buy and sell, but inside the range. Regards R. Linda!
OANDA:XAUUSDShort
by RLinda
18
GOLD is at a high levelWorld gold spot price stands around 2,038.3 USD/ounce, up 9.3 USD/ounce compared to last night. Gold futures price for February 2024 on the Comex New York floor is at 2,051 USD/ounce. Today's gold price for spot delivery on the world market stands around 2,029 USD/ounce. Gold delivered in February 2024 on the Comex New York floor is at 2,041 USD/ounce. Gold prices on the world market are at a high level and tend to gradually increase. Meanwhile, the domestic gold price is at a historic peak and may soon set a new record high according to world price movements. World gold increased mainly due to the decrease in the USD. The DXY index - measuring the movement of the USD against a basket of 6 major currencies - decreased slightly to 102.4 points.
OANDA:XAUUSD
by Xayah_trading
GOLD → Consolidation on weak fundamental background FOREXCOM:XAUUSD remains within consolidation for several days. The market stands still due to the uncertain fundamental environment. The CAPITALCOM:DXY stands in a narrow consolidation, but at the same time forms an ascending triangle, which can be interpreted as bullish consolidation, pushing the price to resistance with the aim of breaking the limit resistance level. If the dollar starts to strengthen, which is expected on the background of the pattern, gold will then start to realize the scenario we expect. Fundamentally, on Friday and Monday, Fed officials made it clear to the market that Powell said nonsense about the rate easing discussion and started to put things in order: a rate cut is possible in March, but it is too early to discuss it now, as inflation is still high and a rate hike is possible. Hence, this is a negative fundamental backdrop for gold. Gold is now in consolidation and heading towards resistance for a retest before a possible fall. Support levels: 2023, 2020, 2010 Resistance levels: 2030, 2033.6 There is a high chance that after the resistance is retested, gold will start a downward phase, as below the above mentioned zones and below the lows there is an area of interest to the market maker - areas of imbalance formed on the background of the strongest rally a few weeks ago. Regards R. Linda!
OANDA:XAUUSDShort
by RLinda
7
GOLD hold your breath waiting for the Fed's moveGold prices fluctuated slightly as investors waited for important US inflation data to be released at the end of the week to look for more signals on the US Federal Reserve's interest rate direction after dovish statements. recently. The market is in pause mode waiting for the next important fundamental economic news or data. He said that the buying activity of traders in the first trading session of the week was the psychology of buying when prices fall. The fundamental factors keeping gold prices are a weakening dollar, looser monetary policy and some safe-haven demand from tensions in the Middle East. Traders are pricing in a 69% chance that the Fed will cut interest rates in March. Lower bond yields and interest rates are a favorable environment for gold as it reduces the opportunity cost of holding the metal. this kind. Expect a series of important US economic data this week, including the core November personal consumption expenditures (PCE) index report.
OANDA:XAUUSD
by Xayah_trading
GOLD → Nearby resistance could influence further declines FOREXCOM:XAUUSD on Friday, after the words of Williams (Fed) falls under the sell-off and tests the low of 2015.6. At the moment, the market is calm and forming a correction after a false breakdown of support. For the TVC:DXY , a relatively bullish fundamental backdrop was restored on Friday. In all likelihood, the correction may be followed by a recovery phase, which could affect gold in terms of further declines. Let me remind you that at the moment the price is in the range of 0.382 fibo - 0.236 fibo. On the H1 chart, the price is forming a false break of the support of the 2020 range and is heading towards resistance to retest this area. The market still wants to take the price lower as there is an area of imbalance and interest for the market below the 2000 - 1975 area, but amid strong market manipulation by the Fed, the asset is trading slightly higher than it should be. Support levels: 2020, 2015 Resistance levels: 2030. 2038. 2050 Still, we expect a decline after the resistance retest. The market is recovering fundamental background, within which gold may test lower support levels. Regards R. Linda!
OANDA:XAUUSDShort
by RLinda
10
XAUUSD: Channel Down sell signal as last May.Gold (XAUUSD) eventually delivered the expected rejection and pull-back after hitting the 0.786 Fibonacci level as we presented on our December 04 idea (see chart below): The All Time High (ATH) candle turned out to be a fake-out, liquidating countless of late buy positions at the top as well as stop losses on sells. If we ignore that non-technical candle wick, we can see that the underlying pattern is a Channel Up on the medium-term, which last week broke below its bottom but found Support exactly on the 1D MA50 (blue trend-line). As you see on the chart, there is uncanny symmetry between the price action since the September 20 High and the sequence from February 02 until May 16. Both resulted in a Channel Up, which on May 16 broke to the downside and extended the sell-off below the 1D MA50 and to (initially) a -7.20% decline from the Channel Up Lower High. As a result, since the price has already brokne below the current Channel Up and seems to have been rejected on an emerging (dotted) Channel Down as in May 2023, we expect this time to break the 1D MA50 and Support 1 and extend towards Support 2. We are bearish, targeting 1930. ------------------------------------------------------------------------------- ** 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:XAUUSDShort
by TradingShot
GOLD → Bears are around. The fall may continue, but....FOREXCOM:XAUUSD is under selling pressure amid the global bull market. Earlier, the price updated the high to 2150, after which it formed a rather strong conglomerate of bearish patterns. Last trading week, the market rattled everyone's nerves. And the reason for that was the incompetence of the Fed as a structure that has a huge influence on the market. The paradox of the Fed this week was that Fed Chairman Jeremy Powell gave a strong pattern on Tuesday that they are discussing rate cuts and are ready to do so in the future. As a consequence, an aggressive reaction is forming in the market in the form of a bullish momentum of 3%. And on Friday, one of the Fed's representatives, Williams, said that they are not even going to consider this issue anytime soon. He also added that the Fed is seriously ready to raise rates if necessary. the market reacts with strong sell-offs of $300 or 1.5%. The price is testing one of the strong support areas and from the technical analysis point of view, there is a chance to see a rebound and a retest of the local resistance before a further decline. In the coming week it is worth paying attention to the following news, the data on which can also determine the medium-term outlook for the market: GDP QoQ, Initial Jobless Claims, Philadelphia FED MI Core DGO, CORE PCE Based on the fundamental data from last week, there are strong indications that we should expect the TVC:DXY to strengthen from the market opening and in the medium term. Consequently, after a small correction, gold may continue its decline towards the imbalance zones, which are obviously still of interest to the market maker. The medium-term target may be the support area below 1975. The market may test the support of the global price channel before further growth. At the moment, the priority of forces is for the bulls, as there are a number of nuances and patterns that point to this. Regards R. Linda!
OANDA:XAUUSDShort
by RLinda
24
GOLD slow down and wait for market signalsWorld gold price is at 2,020 USD/ounce. Volatility in the gold market this week is said to be difficult to predict as investors continue to evaluate the US Federal Reserve's (FED) updated economic forecasts announced at its final policy meeting. in 2023. In addition, investors and traders will also be watching a number of important reports, including the personal consumption expenditure index that will be released on Thursday. If the report shows inflation continuing The decrease will strengthen the possibility that the FED will cut interest rates next year and push gold higher. On the contrary, a rising inflation scenario will put pressure on gold. Gold's resistance is forecast at $2,050/ounce, followed by the highest level reached in May of around $2,075. It is also not excluded that gold will conquer new highs in the near future. Gold's current support level is 2,010 USD/ounce. If this level is broken, the precious metal could fall to $1,990/ounce, or even lower.
OANDA:XAUUSD
by Xayah_trading
GOLD → The market is warming and bullish potential is forming FOREXCOM:XAUUSD strengthens and tests the local high but fails to reach the key resistance at 2050. A strong consolidation above the 2030 level and subsequent momentum is forming. On D1 we see the potential that the market is aiming for. On the background of weakening TVC:DXY , on the gold market bulls form a strong support area below 2030 after which within the framework of realization of the accumulated potential the market strengthens, forming a bullish impulse. For us at the moment the area of 2034 and 0.382 fibo plays an important role. As the pre-breakout consolidation is formed in relation to the resistance, and after the false breakout of 2040 the price does not fall, but breaks the resistance, it seems that with a positive fundamental background the market may continue its growth. But before the growth the price may finally test the support. As part of the realization, the price may reach the area of 2050 or even 2060. Closing of today's daily session will determine for us the medium-term potential for the next week. Resistance levels: 2047.5, 2050. 2062 Support levels: 2038, 2030, 2025 It seems that the market is getting ready to test the resistance. A pullback within the range may follow. Price return to resistance will prepare the market for further growth. Regards R. Linda!
OANDA:XAUUSDLong
by RLinda
33
GOLD the trend is up but no longer strongOn the world market, gold price reached 2,034.65, an increase of 1.99 USD. The Fed's admission that inflationary pressures are on the decline has increased expectations for interest rate cuts. This has affected the strength of US government bond yields and the USD, but has a positive impact on the gold market. In the short term, according to technical analysis, gold is still in an uptrend but not as strong as before. The nearest resistance level for gold price is 2,012.5 USD/ounce (highest on December 12) and the next strong resistance level is 2,075 USD/ounce. Meanwhile, the support threshold is 1,955.4 USD/ounce. This is the lowest level in November.
OANDA:XAUUSD
by Xayah_trading
XAUUSD: Hit the top of the Channel Down.Gold reached the top of the ATH Channel Down and so far is being rejected. Turning bullish on its 1D technical outlook (RSI = 57.506, MACD = 11.660, ADX = 41.229) means that it is not unlikely for the top to break but we will engage (buy) only if the R1 level (2,048) breaks and target the R2 level (TP = 2,090). Until this happens, we will use the rejection to short and target the S1 level (TP = 1,972.50). See how our prior idea has worked: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
FX_IDC:XAUUSDShort
by InvestingScope
1
GOLD → The market's violent reaction. What to expect next...FOREXCOM:XAUUSD is once again meeting strong bulls. Powell's speech influenced the price growth and a 2.8% momentum is forming. Let's see what happened and what to expect: Most important: The rate remained unchanged. Inflation eased 0.1% to 3.1%. In fact, there was no change . Speculators liked Powell's more positive tone, which caused them to react with a rather aggressive infusion of capital into the market. But again, everyone, as well as the Federal Reserve and analysts expect the rate reduction not earlier than March 2024. Apparently, there was an internal psychological hunger on the background of long waiting for any hints or actions and as a result, we see the weakening of the TVC:DXY and the growth of gold. Today we expect important news at 13:30 GMT. Analysts expect the data to remain unchanged. In terms of technical analysis, Gold is testing the resistance of the previously created range of 2038. A false breakout is formed, which may lead to a small correction before further growth amid positive fundamental background. The price may test 2030, 2025, 2020. But a retest of 2038 and consolidation above the level will contribute to the strengthening of gold. Support levels: 2030, 2025, 2020 Resistance levels: 2038, 2049 I think that before the news there will be a sideways range and consolidation, after the news the price may form a correction before further growth. But everything depends on the news. Regards R. Linda!
OANDA:XAUUSD
by RLinda
8
Gold/XAUUSD ~ Blow-off Top Keeps On...Blowing? (2H)TVC:GOLD chart mapping/analysis. Gold's massive (algo-triggered) blow-off top killed the bullish momentum - pending further selling pressure if DXY/bond yields decide to rally into end of the year.. Trading scenarios into EOY: Selling pressure towards 50% Fib initial support zone. Bearish EOY capitulation target = Golden Pocket support zone. Expect any bullish reversal to be met with sellers, pending underlying relative strength in DXY/bond yields. 38.2% Fib / 200SMA confluence zone as potential target for short positioning, TBC.
TVC:GOLDShort
by BlueHatInvestor
1
GOLD → Pending FOMC & FED. Price may fall even lower FOREXCOM:XAUUSD is in consolidation phase and it is likely to last until 19:00 GMT. The market is waiting for news and no strong movements in one or the other direction should be expected before the time. The premise is that the dollar will strengthen: Friday's NFP continues to be bullish for the TVC:DXY (pattern to break resistance is forming) PPI is expected to be bullish Overall the data over the past few days will not allow Powell to cut the rate. Inflation is still strong to change policy. Against this backdrop, gold may test one of the local highs: 1990, 1996, 2000 before falling further Overall, from a technical point of view, there is still a huge buying imbalance in the gold market, the market maker can take the price much lower to balance the situation and at the moment the negative fundamental background is contributing to this. Support levels: 1976,2 Resistance levels: 1984.3, 1990, 1996 The price continues to update the lows and this indicates the mood of the market. The fundamental background for gold is unfavorable and the decline may continue. The situation may change if today's news and its actual data are not extremely opposite to expectations Regards R. Linda!
OANDA:XAUUSDShort
by RLinda
36
XAUUSD Fed spike is a great sell opportunity.Gold is rising today after the Fed Rate Decision (unchanged, Powell implying we are near or at the end of the hike Cycle) but also technically as it found support on the 1day MA50. This price action isn't diverging from the recent past. After the sharp decline of September, Gold peaked on October 27th, pulled back to the 0.382 Fibonacci and then made a new All Time High. The exact same pattern was printed at the start of 2023. The All Time High then pulled back to the 0.618 Fibonacci level of the February bottom. According to this, today's spike is a solid opportunity to sell at a high level and target 1939 (0.618 Fib). Previous chart: Follow us, like the idea and leave a comment below!!
FX_IDC:XAUUSDShort
by TheCryptagon
Gold: Bearish Dominance 🐻The bears are currently not giving up control of the gold price and have caused strong sell-offs. Nevertheless, we primarily see this as part of the substructure of the turquoise wave B and expect the rally to continue soon. However, for this scenario to remain in tact, the reversal must take place above the support at $1935. Should this level be broken, the alternative with a probability of 40% would come into play, which sees the price already in a descent.
COMEX:GC1!Long
by MarketIntel
GOLD need a more obvious sign of sharp macro declineWorld gold prices on Tuesday hovered around the 1,990 USD/ounce mark after 2 sessions of decline. World gold prices became more cautious due to information that US consumer prices unexpectedly increased in November, as traders are waiting for important central bank policy meetings to find clues about the policy. currency book. The consumer price index (CPI) increased 3.1% year-on-year in November, in line with economists' expectations. November CPI increased 0.1% compared to the previous month. At the same time, the annual base interest rate remains at 4%. All eyes are on the Fed's two-day monetary policy meeting, which will end on Wednesday with a decision on interest rates and the release of summary economic forecasts. The Fed is expected to leave interest rates unchanged this week, with about an 80% chance of a rate cut in May, according to the CME FedWatch Tool.
OANDA:XAUUSD
by Xayah_trading