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GC1! (Gold Futures)

GOLD → Waiting for the CPI. Will the situation change much?OANDA:XAUUSD continues to fall despite the expectations of many. The price is testing the 1984 area and updated the low to 1975.89. What can happen today? The TVC:DXY is in a local trend phase, but at the same time it is consolidating in anticipation of today's CPI and further news this week. The main gaze is directed towards FED interest rate decision, FOMC statement, Initial jobless claims. Against the backdrop of Friday's NFP we can say that things are still not very stable and the representatives of the US economic system may still consider a tougher outlook. In this case the dollar index will continue its growth and gold will go down. Technically, the metal is in the red zone, updating lows and testing resistances from below. The chances that the market will change the trend are not so great. Analysts expect bullish CPI, which will strengthen the dollar. Gold may fall further after a shakeout, within which it may test nearby resistances. Support levels: 1980, 1975, 1965 Resistance levels: 1984, 1890, 1994 I expect a shakeout on the background of the news, after which the decline may continue with a high probability. The potential is on the side of the bears, their strength prevails at the moment. Regards R. Linda!
OANDA:XAUUSDShort
by RLinda
11
🥇 GOLD - Targets are much lower. The session starts with a dropThe selling continues. Markets are leading the price towards the global target, where the rally started, due to heavy buying volumes. The weak fundamental background related to NFP, Initial Jobless Claims, supports the dollar, on which background gold will weaken The beginning of correction ↓: 1) Breakout of local support lines 2) Accumulation before further decline 3) Downward triangle 4) Market continues to update lows 5) Weak fundamental background
OANDA:XAUUSDShort
by AndeWave
6
GOLD fluctuating in the lowest price range for more than 20 daysWorld gold price stood at 1,983 USD/ounce, down sharply by 20 USD/ounce compared to the same hour yesterday morning. Gold is fluctuating in the lowest price range over the past 20 days. Gold traders are waiting for some new fundamental information. Gold's short-term chart condition has worsened. If the CPI number is higher than expected, that could create some selling pressure in the gold market. Today, the US Federal Reserve (Fed) will hold its first meeting in two meeting days in December. Experts say that with stable employment information and actual inflation as expected, it is likely that the Fed will still keep interest rates high until the inflation target of 2% is achieved. If the economy and employment are stable, high interest rates will cause gold prices to continue to decline. In essence, the market is facing a promising buying opportunity, but the necessary momentum has not yet materialized. The path ahead for gold remains uncertain, but it is this uncertainty that makes it an attractive market to watch in the coming days. Meanwhile, information from the World Gold Council (WGC) said that central banks continued their race to buy gold, with monthly net purchases reported at 42 tons in October.
OANDA:XAUUSD
by Xayah_trading
GOLD → Strong bears have come in. price is making new lows NCDEX:GOLD after NFP is updating 2-week low and preparing to decline further as fundamentally, we notice a reversal of market sentiment. On D1 the TVC:DXY is forming a reversal setup and another retest of the key level. Against the backdrop of positive NFP, the index could strengthen quite strongly within the medium-term outlook. In the COMEX:GC1! market, there is still a huge market imbalance in favor of buyers, whose number began to increase since the beginning of the conflict in the Middle East. A final break of the 1994 support and further price decline towards 1984 is expected in the near future. But before that the market may test the local highs (resistance). Moving averages indicate a strong bearish trend. Resistance levels: 2000, 2004, 2007 Support levels: 1991, 1984, 1965 Fundamentally and technically gold is going down. There is no strong news today, but the market may test the nearest resistance to capture liquidity before falling further. Regards R. Linda!
OANDA:XAUUSDShort
by RLinda
17
XAUUSD 1D Symmetry giving a strong break-out sell signal.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): That Monday 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 still a Channel Up on the medium-term, with the price approaching its bottom. As you might have already observed 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, if the price breaks below the current Channel Up, we expect not to stop on the 1D MA50 or Support 1 but rather extend towards Support 2. That will be a break-out sell signal for us, 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 expected to decrease this week.World gold price trades at 1997 USD/ounce. Compared to last week's closing session, world gold prices decreased slightly by 6 USD/ounce. Some analysts believe that the coming time will be challenging for gold. Currently, the gold market is under pressure because the November employment report in the US published last weekend was quite positive. Specifically, non-farm payrolls in the US in November created 199,000 new jobs, higher than the forecast 180,000 jobs and 150,000 jobs created in October. The unemployment rate in November was at 3.7%, lower than forecast and reached 3.9% in October. Average hourly income in November also increased from 0.2% in October to 0.4%, higher than the 0.3% forecast. The gold market is also under pressure because the US Federal Reserve (Fed) meeting will take place on December 12 and 13. Closing last week's trading session, gold prices fell sharply by more than 3% at the end of last week, causing the gold market to witness the strongest fluctuation since mid-August 2020. Many experts predict precious metal prices will decrease this week. After the jobs report and wage data released last week, the US Federal Reserve (Fed) may become more hawkish, which will push the USD and bond yields higher, putting pressure on for gold price.
OANDA:XAUUSDShort
by Xayah_trading
🥇 GOLD - Price will continue to fall from resistance Gold will continue its decline. There are a number of reasons for this: Fundamentally, gold is weakening (Strong dollar from NFP) Break of 2009.6 support The correction wave continues its second part False break of 2067 Target support area 1933 The market closes Friday below the support level. But, a counter-trend spike is formed, which may trigger a small correction to the previously broken 2009 level. The outlook for the market is bearish. The market may show interesting dynamics for the first two days, after which the price is expected to stop in consolidation before Powell's speech on December 13. On the background of NFP the Governor will not change his stance on policy and most likely the information will be at the same level. Gold may test the 1984 - 1950 area by the end of the week.
OANDA:XAUUSDShort
by AndeWave
3
GOLD ending the most volatile week in over 3 yearsLast week saw gold prices skyrocket, setting a new record of 2,149 USD. However, this price does not last long. Closing the weekly trading session, world gold price stood at 2,004 USD/ounce, down sharply to 68 USD/ounce compared to last week's closing session. Last week saw gold prices skyrocket, setting a new record of 2,149 USD. However, this price does not last long. Precious metal prices turned around and continuously plummeted, sometimes dropping to only 1,995 USD/ounce. With a fluctuation of 154 USD this week, the gold market witnessed the strongest weekly fluctuation since mid-August 2020. The employment data released this weekend is like "pouring cold water" on interest rate cut expectations. The number of jobs increased higher than expected combined with the falling unemployment rate, causing the market to postpone expectations of interest rate cuts to May, instead of March as before. It is forecasted that gold will see some downward price pressure next week. After Friday's jobs report, it's unlikely Fed Chairman Jerome Powell will change his hawkish stance, even if the central bank is expected to leave interest rates unchanged. Despite the positive long-term outlook, gold is susceptible to bad news. Gold may fall below 2,000 USD/ounce, to the support level of about 1,975 USD/ounce.
OANDA:XAUUSDShort
by Xayah_trading
2
GOLD → Strong dollar influences further decline in gold OANDA:XAUUSD , following my expectation, on the background of Friday's NFP falls and reaches the target. The price is testing the level of 2000, but in my opinion, this target will not end this week. From December 11 to December 15 we are expecting a rather active week, fundamentally. On Friday we got a rather strong NPF for the dollar, which made gold fall from the zone I mentioned. The fundamental potential is not over, it will continue to influence the pricing in the medium term. It is also worth paying attention to the dollar. On the weekly timeframe we see the formation of a pinbar and a bullish candlestick, which overlaps the last two, which is a strong enough sign of further strengthening. Accordingly, gold and the forex market may react accordingly. Gold is currently testing the support area of the bearish channel. The important zone for us is 2007 - 2009. It is possible to form a retest, an impulse to 2010-2015 , or a false breakdown. Further consolidation of the price below this level will form a bearish potential, which will continue to pressure the price. The market is directed to the mentioned zones of interest and liquidity ( 1990, 1984, 1965, 1955 ) in the medium term. Fundamentally, the market has stopped paying attention to the nuances in the Middle East or Eastern Europe. Now everyone is waiting for some new information from Powell related to monetary policy, namely interest rates. But, more data on Initial Jobless Claims and NFP may make the Fed chief hesitant. Also, on the weekly timeframe, I found the " Cup with handle " pattern forming interesting. It is clear that within such a period it is impossible to determine the exact place of the breakout or the point of safe entry into the market, but the tendency to the fact that the extreme phase of the expected pattern is forming is already pleasing. Most likely, in the medium and long term, the price will continue to test the resistance 2070-2100 for a breakout and the formation of a new range, but not in the near future. OANDA:XAUUSD COMEX:GC1! COMEX_MINI:MGC1! CAPITALCOM:US500 TVC:DXY Regards R. Linda!
OANDA:XAUUSDShort
by RLinda
19
GOLD → NFP ahead. Will the sell-off continue? OANDA:XAUUSD continues to form a local bearish channel after updating the high to 2150 and strong sell-offs to the current area. There is still a huge imbalance in the market and the price could go even lower to settle the situation. NFP could perfectly develop the expected scenario I have been telling you about since the sell-off. Expect the data at 13:30 GMT. The Initial Jobless Claims report was released yesterday with positive data for the dollar. This could be a hint that NFP will hit the planned 180K , maybe more , instead of the last 150K . More bullish data relative to expected data will shake up the market. The dollar may strengthen, which will have a positive impact on gold. Gold made a false breakout of 2038 resistance and bearish channel and continues to trade within the downside range. The target support levels are a potential target. But before the news, volatility will be very sluggish. The market is saving the potential for realization. Support levels: 2027, 2025, 2022, 2007 Resistance levels: 2033, 2035, 2038 News can be unpredictable, try to trade carefully before the news. We are expecting a more positive NFP , a rising dollar and gold falling to the previously mentioned targets, but anything can happen OANDA:XAUUSD COMEX:GC1! COMEX_MINI:MGC1! TVC:DXY Regards R. Linda!
OANDA:XAUUSDShort
by RLinda
45
XAUUSD: Short term rebound likely.Gold hit the bottom of the 4H Channel Up and the 4H MA200 turning neutral on 1D and bearish on 4H (RSI = 37.407, MACD = -6.030, ADX = 14.273). The 4H MACD also indicates that we are on bottom territory so we expect a short term rebound and we're bullish targeting the 4H MA50 (TP = 2,035). As long as the designated dashed Channel Down holds, we will then turn bearish and target a new LL (TP = 1,965). Any crossing under the Channel Down will also be an immediate sell, targeting the 1D MA50 (TP = 1,965). 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:XAUUSDLong
by InvestingScope
XAUUSD The NFP is 'do-or-die' moment for this pattern.Gold (XAUUSD) is trading exactly at the bottom of the 2-month Channel Up, restrained below the 4H MA50 (blue trend-line), which ahead of today's Nonfarm Payrolls (NFP) report is getting increasing dangerous. Technically, as long as the Channel Up holds, the current level is the most optimal buy opportunity for another +11.00% bullish sequence (as the previous two Higher Highs) targeting above 2200. With the 1D RSI though showing no divergence at all with the price's Higher Lows (as opposed to the previous two bottoms of the Channel Up), it is the first time on this pattern that a bearish break-out is so likely to take place. We will look for a break below the 2010 Support as our sell signal. Due to the usual high volatility that is expected during NFP releases, if we do get a bearish break-out, it is quite probable to reach the 1D MA50 (red trend-line) even within the day. Sell target on this, 1965. ------------------------------------------------------------------------------- ** 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:XAUUSD
by TradingShot
GOLD → Market in range awaiting newsOANDA:XAUUSD is strengthening due to a slight correction in the TVC:DXY . The price is testing the local trend resistance area before the publication of Initial Jobless Claims at 13:30 GMT. The market is in a range as analysts and investors await the Initial Jobless Claims information to roughly understand the situation for tomorrow (Friday) as we approach the NFPs to be released on December 8 at 13:30 GMT. With the correlation between DXY and XAU, the situation is unstable right now. Going forward, the inverse correlation may change even more as there are targets at lower levels for gold. From a technical point of view, since we have a local bearish channel built on the background of strong sell-offs, I expect a false break of resistance and further decline to the previously mentioned targets. Support levels: 2022, 2010, 2007 Resistance levels: 2032, 2035, 2040 Situation may change due to fundamental factor, Unexpected news may change the situation dramatically, but temporarily. Regards R. Linda!
OANDA:XAUUSDShort
by RLinda
8
GOLD | Rangebound as Indecision Reigns Pre-NFPOANDA:XAUUSD PRICE FORECAST: - Gold Rangebound as Market Participants Pause Ahead of Jobs Data. - US 10Y Yields Hit a Three-Month Low as Gold Ticked Higher. Gold prices recovered late in the day yesterday before continuing to trickle higher today. Looking at the larger timeframes and the price is caught in a range ahead of US jobs data due tomorrow. US TREASURY YIELDS AND JOBS DATA Investors are pausing before the US jobs report, following a turbulent week for precious metals. Despite hitting a record high at the beginning of the week, there was a sharp selloff, bringing the price close to $2000/oz. Today, US 10Y Yields hit a three-month low, providing support for the precious metal. While the overall outlook for metals is clearer, there may be a retracement in the short-term due to tomorrow's jobs report and next week's Fed meeting, as rate cut expectations increase. The perfect conditions for metal prices to rise in 2024 are emerging due to increasing demand and the significance of metals in tech production. The uncertainty in global geopolitics and the outcome of the upcoming FOMC meeting do not affect the positive outlook for the metals sector. In terms of economic data, tomorrow's focus will be on initial jobless claims, while Friday's NFP and Jobs report gains attention due to a decrease in job openings and a softer ADP print. If there is a significant miss on Friday, it could result in further weakness for the dollar and a likely boost for gold prices. TECHNICAL OUTLOOK OANDA:XAUUSD Form a technical perspective, Gold is caught n a range following the explosive move higher to start the week. We appear to be caught between the 2020 and 2031 levels at present with any spikes above or below these levels failing to find acceptance. There is every chance that this continues heading into the NFP release on Friday. Either way the weekly timeframe now looks intriguing with a massive shooting star candlestick as things stand. However, with two days left there is a chance that this could change. Key Levels to Keep an Eye On: Resistance levels: 2032.00 - 2041.00 - 2050.00 Support levels: 2020.00 - 2010.00 - 2000.00
OANDA:XAUUSD
by TVS-Trader
GOLD → The bears are moving towards imbalance OANDA:XAUUSD continues to update lows, testing new zones, but at the same time, as part of the correction, the price confirms the boundaries of the forming descending price channel. On D1 it is obvious that the decline in gold will continue, as there is still a huge imbalance at the expense of buyers. At the moment we are interested in the support area of 2022, which may be broken after another retest. In this case the decline will continue to 2009 and then to 1984. The Dollar Index is forming a correction, but even if the decline starts, gold may not react to the dollar and will continue to move towards its targets. On the chart we see a bearish channel, a bounce from resistance and another retest of support, the sellers are strong at the moment. At the same time the market is waiting for the news at 13:15 ADP Nonfarm EC, don't miss it, but before the news reduce the risks. Support levels: 2022, 2010, 2007 Resistance levels: 2035 I expect the continuation of the descending channel formation, in this case, the support may be broken soon and the price will head towards the mentioned target TVC:DXY OANDA:XAUUSD COMEX:GC1! Regards R. Linda!
OANDA:XAUUSDShort
by RLinda
15
GOLD | Continued deep declineFORECAST OANDA:XAUUSD : - Despite the falling exchange rate, gold prices tend to decrease slightly during the trading session - Attention will focus on US non-farm payrolls at the end of the week Although falling yields benefited the technology index, gold struggled to get a boost, sending prices down for the second day in a row. While the precious metal maintains a constructive outlook, bulls are not yet ready to re-enter long positions after being caught out on Monday's trading blip during a breakout during the Asian session quickly turned into a massive sell-off. Looking ahead, we could see measured moves in gold over the next few days as investors avoid large directional bets ahead of the release of November US jobs figures on Friday. The upcoming jobs report will provide valuable insight into the health of the economy and, in turn, could help guide the Fed's next steps. TECHNICAL ANALYSIS OANDA:XAUUSD Gold surpassed its previous record and briefly hit a new all-time high on Monday, but quickly fell lower, signaling that the long-awaited bullish breakout was nothing more than a blip. fake. While the bulls may have failed for now, bullion retains a constructive technical outlook. This means that the path of least resistance is still upward. That said, if the precious metal continues to rally, the first hurdle to watch will appear at $2,050 and $2,070/$2,075 thereafter. Outside this area, attention turns to $2,150. On the other hand, if losses increase in the near term, initial support is placed at around $2,010. This area could act as a floor in the event of further losses, but a drop below this level could signal that a deeper retracement is forming, with the next downside target lying at nearly 1,990 USD.
OANDA:XAUUSDShort
by TVS-Trader
GOLD → The sell-off may continue. News ahead OANDA:XAUUSD sold off 6% from its high. The price has lost more than $130. This is the biggest drop since August 2020. At the moment a correction is forming, after which the fall will continue On d1, the dollar is strengthening in anticipation of positive news, while the Fed is silent and treading water. Gold is forming a huge false breakout and a candle with a huge shadow, the potential of this setup is that without the influence of the fundamental component, from a technical point of view, the price can fall to 1900-1800 (do not take this as a target, it is just a nuance) For the gold market, the liquidity and imbalance zones are below: 2022, 2012, 2007, 1900, 1987, 1984. The probability is quite high that the price will test most of these targets, it is dangerous to buy now, the market is still in a sell-off, which I warned you about earlier. Reason: fundamental, dollar strength, lack of volumes, global range, engulfment, moving averages cross, huge imbalance. Support levels: 2030, 2022, 2012 Resistance levels: 2035, 2040 I am waiting for the continuation of the fall after the retest of the resistance area. But! Strong news is published today and the market may be stormy, on the background of panic, the price may test the resistance areas before falling COMEX:GC1! COMEX_MINI:MGC1! TVC:DXY Regards R. Linda!
OANDA:XAUUSDShort
by RLinda
20