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GOLD traded steadily, notable events and data during the dayOn the Asian market on Tuesday (December 3), OANDA:XAUUSD Spot delivery is basically stable, gold price is currently around 2,640 USD/ounce. Notable economic data and events on this trading day Today (Tuesday), the U.S. Bureau of Labor Statistics will release the Job Openings and Labor Turnover Survey (JOLTS). This important employment data is expected to cause large fluctuations in gold prices this trading day. Economists predict that there will be 7.51 million JOLT vacancies in the United States in October, compared with 7.443 million in September, the lowest level since the beginning of 2021. The JOLTS job vacancy report was one of the labor force indicators that U.S. Treasury Secretary Yellen valued most when she was chair of the Federal Reserve. This index is also labor market data that the Fed is very interested in. Gold traders will also be watching for speeches by Federal Reserve officials. On Wednesday, Fed Governor Coogler will give a speech on the labor market and monetary policy. Chicago Fed President Goolsby will give a speech. More information Trump urged BRICS countries not to try to replace the dollar and threatened to impose 100% tariffs if they did not comply. Trump's comments raised concerns that US interest rates will remain high for a long time and this will not be beneficial for non-yielding gold. Analysis of technical prospects for OANDA:XAUUSD On the daily chart, there are almost no structural changes as gold is still maintaining very modest price activity due to the lack of fundamental breakthroughs. In terms of factors, gold is facing more pressure with the nearest horizontal resistance at 2,644 USD along with the 21-day Moving Average (EMA21), in addition, the main trend currently dominating is the downward trend. by price channel. In the short term, if gold is sold below the 0.618% Fibonacci level, it will have conditions to decrease further with a subsequent target of around 2,606 - 2,600USD, which means the nearest support in the short term is also the 0.618 Fibonacci level. % price point 2,634USD. The relative strength index is still operating below the 50 level, although it is mostly moving sideways but this should also be considered a negative technical signal. During the day, the technical outlook leans towards the possibility of price decline with notable points listed as follows. Support: 2,634 – 2,606 – 2,600USD Resistance: 2,644 – 2,663USD SELL XAUUSD PRICE 2661 - 2659⚡️ ↠↠ Stoploss 2665 →Take Profit 1 2654 ↨ →Take Profit 2 2649 BUY XAUUSD PRICE 2579 - 2581⚡️ ↠↠ Stoploss 2575 →Take Profit 1 2586 ↨ →Take Profit 2 2591
OANDA:XAUUSDShort
by Xayah_trading
2
GOLD's recovery is limited, pay attention to this week's dataOANDA:XAUUSD remained stable above 2,600 USD last week, mainly supported by rising geopolitical tensions, but after Donald Trump won the US Presidential election, gold was still under pressure to restrain the possibility of price increases in terms of price. Basically because the USD will be supported by Trump's victory. Regarding gold's latest recovery, after US personal consumption expenditure (PCE) data released earlier this week was in line with expectations, market expectations of an interest rate cut in May 12 by the Federal Reserve increased, pushing gold prices higher. Currently, the market is pricing in a roughly 66% probability that the Fed will cut interest rates by 25 basis points in December, a significant increase from more than 50% a week ago. Geopolitical tensions in Europe caused by Russia's missile attack on Ukraine also provided support for safe-haven assets such as gold. The Israeli military said its air force on Thursday attacked a facility in southern Lebanon used by Hezbollah to store medium-range missiles, as the two sides accused each other of violating a ceasefire despite the agreement. previous agreement. Russia on Thursday launched its second major attack this month on Ukraine's energy infrastructure, causing widespread power outages in the country. Gold is often seen as a safe investment during times of economic and geopolitical instability. Gold prices have fallen about 3% this month and hit a two-month low on November 14. This is mainly because the US Dollar has strengthened since Trump was elected and his tariff policies are believed to be likely to push up inflation, thereby slowing down the cycle of US interest rate cuts. Federal Reserve. This week the US will release key economic data including job vacancies, the ADP jobs report and the nonfarm payrolls report, which could provide guidance on the Fed's policy outlook. Economic data to watch out for this week Monday: ISM manufacturing PMI Wednesday: ADP Working Data, ISM Services PMI, Federal Reserve Chairman Jerome Powell will participate in a panel discussion at the New York Times DealBook Summit Wednesday Thursday: Claim weekly unemployment assistance Friday: US nonfarm payrolls report, preliminary University of Michigan consumer sentiment Analysis of technical prospects for OANDA:XAUUSD Gold is trying to recover but is still limited by the 0.50% Fibonacci level and EMA21. Note to readers in yesterday's edition. In terms of overall structure, gold is still inclined to a bearish outlook with the main trend from the price channel, main resistance from EMA21, while the Relative Strength Index has not yet been able to surpass 50. Because So in terms of trends and dynamics, gold still has the prospect of decreasing in price more than increasing. As long as gold remains within the price channel, it does not technically have enough room for a long-term rally, so rallies should only be considered short-term rallies. In the immediate future, if gold falls below the 0.618% Fibonacci retracement level, the next downside target will be noticed at around the original price of 2,600 USD. In summary, the technical outlook on the daily chart of gold prices leans to the downside with notable highlights listed as follows. Support: 2,606 – 2,600USD Resistance: 2,663 – 2,693USD SELL XAUUSD PRICE 2651 - 2649⚡️ ↠↠ Stoploss 2655 →Take Profit 1 2644 ↨ →Take Profit 2 2639 BUY XAUUSD PRICE 2579 - 2581⚡️ ↠↠ Stoploss 2575 →Take Profit 1 2586 ↨ →Take Profit 2 2591
OANDA:XAUUSDShort
by Xayah_trading
1
XAUUSD Bull Flag to break into a new Channel Up High.Gold / XAUUSD is trading inside a Channel Up since November 25th on the 1hour chart. At the moment it is on a Bull Flag, which was part of both prior bullish waves. The 1hour RSI just crossed under its MA and on the next lower low, the price should have already bottomed. Buy and target 2669, which is the 1.618 Fibonacci extension (the last Higher High of the pattern). Previous chart: Follow us, like the idea and leave a comment below!!
FX_IDC:XAUUSDLong
by TheCryptagon
GOLD → The bears are gaining weight. Resistance retestFX:XAUUSD is declining after a false break of the resistance of the range. The fundamental background is mixed and does not yet allow to form a clear medium and long term strategy, BUT! ... Trump's policies create new risks. Before taking office, he has already signaled the growth of tariffs for the whole world (Canada, Mexico, Europe, China, BRICS countries). The growth of geopolitical risks also affects the price of metal. On the background of the dollar growth and expected reduction of interest rates by the Fed, gold is declining and confirms the bearish structure of the market. The markets' attention is focused on the ISM manufacturing PMI index in the US. Data from the US Technically, the price is breaking the ascending support line as well as the 2636 zone, indicating a dominant bearish sentiment. A correction is forming and we should pay attention to the key resistance, liquidity and imbalance zones Resistance Levels: 2636, 0.5-0.7 Fibo, 2650 Support levels: 2622, 2618, 2605 A retest of the previously broken structure and zone of interest is forming. False breakout of 0.5-0.7 fibo (retest) can provoke active selling on the background of the newly growing dollar. But, globally, gold is still in a sideways range without a clear trend direction... Rate, share your opinion and questions, let's discuss what's going on with ★ FX:XAUUSD ;) Regards R. Linda!
FX:XAUUSDShort
by RLinda
12
XAUUSD Still a great long-term buy opportunity targeting +$3000Gold (XAUUSD) has been following our Bull Cycle projection since 4 months back (August 05, see chart below) having risen an incredible +15%, from 2424 to almost 2800: As you can see by the chart we constructed back then, despite the recent correction in November, the yellow metal is still a buy opportunity as this was only a technical pull-back based on our Bear - Bull Cycle model. We have first come up with this technical pattern on April 04 2024 and the basis was the similarities (so far) of the July 2016 - August 2020 Bear-to-Bull Cycle with the Bear Cycle that followed the August 2020 Top and so far the current Bull Cycle. As you can see, once the 1W MA50 (blue trend-line) turned to a Support at the end of the Bear Cycle, it held up until the Bull Cycle's Top and every pull-back was a buy opportunity. More specifically, the current November correction looks very similar to the COVID flash crash on March 2020 that touched the 1W MA50 and immediately rebounded. The key pattern here lies on the 1W RSI. As you see, once that broke above the 70.00 overbought barrier, while Gold was on the Bull Cycle's Channel Up, it started to decline inside a Channel Down. That technical Bearish Divergence (RSI Channel Down against Gold's Channel Up) affected the price on the 3rd top (Lower High), which was the Cycle's peak. Right now it appears that the 1W RSI has (or is near) bottomed and is staring that final Bullish Leg to the Lower High that will form Gold's new Bull Cycle Top. Technically this should be after April 2025 and if it is formed again upon the completion of a +85.42% rally from the Bear Cycle's first bottom and at most the 3.0 Fibonacci extension, then we are still expecting a $3100 target. ------------------------------------------------------------------------------- ** 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
Oil focus on EIA data and OPEC+ meetingTVC:USOIL increased slightly during the Asian trading session on Monday (December 2), trading around 68.30 USD/barrel. Market volatility has continued to decrease and we need to wait for new changes in fundamental factors to shape the short-term trend. This week we will focus on EIA inventory data and the OPEC+ meeting. At the same time, this week will release US non-farm data. If non-farm data continues to strengthen, it will continue to put pressure on the Federal Reserve to cut interest rates, which will be detrimental to rising oil prices. Last week, as the geopolitical situation eased, pressure on the supply side eased and the market is now expecting that this OPEC+ meeting is expected to be postponed and increased production will support oil prices. On the geopolitical side, there are no significant new points. Lebanon's official news agency said on Friday that four Israeli tanks had entered Lebanese border villages. The ceasefire, which took effect last Wednesday, has reduced oil's hedging premium and sent oil prices tumbling despite accusations of ceasefire violations between the two sides. Although there are still many potential risks, the conflict in the Middle East has not disrupted oil supplies and oil supplies are expected to be more abundant in 2025. The International Energy Agency believes that there is a surplus of supply. is expected to exceed 1 million barrels/day, equivalent to more than 1% of global production. OPEC+ is expected to decide to continue extending production cuts at the upcoming meeting. With stagnant demand and oversupply, OPEC will face an uphill battle if it wants to push up oil prices. On the daily chart, TVC:USOIL The main long-term trend is still down with the price channel as the main trend, pressure from EMA21 and horizontal resistance levels around the 0.236% Fibonacci retracement point sent to readers in previous publications. . In the short term, WTI crude oil has enough room to continue falling with a target of around 66.44USD in the short term, more than 65.28USD. Meanwhile, the Relative Strength Index is also maintaining activity below or around the 50 level, which is considered a bearish signal with the target being the oversold area. As long as WTI crude oil remains at EMA21, it still has a bearish short-term technical outlook, and the trend from the price channel continues to trend in the long term. In the current daily chart, WTI crude oil has a downward trend with notable points listed as follows. Support: 66.44 – 65.28USD Resistance: 69.51 – 70.54USD
TVC:USOILShort
by Xayah_trading
GOLD MARKET ANALYSIS AND COMMENTARY - [Dec 02 - Dec 06]This week, international OANDA:XAUUSD fell quite sharply from 2,721 USD/oz to 2,605 USD/oz, then increased slightly and closed the week at 2,650 USD/oz. The reason why gold prices dropped sharply in the early sessions of this week was because President-elect Donald Trump nominated Mr. Scott Bessent, a traditional Wall Street financier, to hold the position of the US Treasury. The market expects Mr. Bessent to contribute to stabilizing the US economy and increasing the strength of the USD. Besides, a ceasefire between Israel and Lebanon, announced earlier this week, also eased worries about geopolitical tensions, reducing the appeal of gold as a safe haven. In particular, Mr. Trump threatened to impose a 25% tax on Mexican and Canadian goods imported into the US and proposed imposing a 10% tax on all products from China, also increasing concerns about a tariff war. , causing the FED to delay reducing interest rates, or even increase interest rates again. In addition, the US Personal Consumption Expenditure Index (PCE) in November still increased by 2.8% over the same period last year, higher than forecast and much higher than the FED's target of 2%. This may make the FED more cautious in continuing to cut interest rates in the short term. Many people believe that the gold market will have some unpredictable fluctuations in the near future as it continuously reacts to Mr. Trump's comments before his inauguration. In the short term, gold prices next week will continue to be dominated by statements posted on social networks by Mr. Trump. In addition, the market will focus on important US economic data, such as manufacturing and service PMI index; Employment indexes: ADP, NFP, unemployment rate... If US employment figures, especially NFP, increase stronger than expected, it may cause the FED to delay cutting interest rates at the December meeting. coming, causing gold prices to come under pressure to adjust next week. On the contrary, if US employment figures continue to decline sharply, it will cause the FED to continue cutting interest rates, thereby positively supporting gold prices next week. 📌Technically, on the H4 chart, gold price may still fluctuate between 2,500 - 2,750 USD/oz. Notable technical levels are listed below. Support: 2,600 – 2,606 – 2,634USD Resistance: 2,693 – 2,663USD SELL XAUUSD PRICE 2751 - 2749⚡️ ↠↠ Stoploss 2755 BUY XAUUSD PRICE 2539 - 2541⚡️ ↠↠ Stoploss 2535
OANDA:XAUUSD
by Xayah_trading
GOLD increased thanks to the weakening of the USDOANDA:XAUUSD rose, boosted by the weakening of the USD and safe-haven demand due to concerns about persistent geopolitical tensions. Despite recovering in the final trading session of the week, gold still recorded its worst month of performance since September 2023. The US Dollar Index fell to its lowest in more than two weeks, but was still up 2% in November as Republican Donald Trump's victory earlier this month boosted expectations of big fiscal spending. , higher tariffs and tighter borders. This month, gold prices have fallen more than 3%, the worst monthly decline since September last year. After Mr. Trump's victory, the USD continuously increased in price and triggered a strong sell-off in the gold market. OANDA:XAUUSD forecast Geopolitical instability is still increasing, gold prices may still increase in the near future. Gold is often considered a safe investment in times of economic and geopolitical instability such as trade tensions or conflict. The new administration's policies in the US can impact economies, causing the central bank to increase gold reserves. This prompted a sharp increase in gold trading by central banks. This is the group that bought the most gold on the market recently. BCA Research recommends buying gold when prices fall due to long-term prospects. Gold is a commodity that benefits from the policies of the new administration in the US. Increased global policy uncertainty will support gold buying demand.
OANDA:XAUUSD
by Xayah_trading
GOLD → Interest in metal is growingFX:XAUUSD on the background of support from the dollar correction updates local maximums and aspires to the liquidity zone. Reduced liquidity due to the holiday weekend in the West also plays its role on the markets Gold holds within the boundaries of the local ascending channel on the background of restrained dynamics of the US dollar, mainly due to the data on inflation... Dovish sentiment regarding further Fed policy actions continues to support the gold price, which is not a subject of interest. There is growing interest in gold as a hedge asset on the back of the exalized conflict in Syria, as well as in Eastern Europe. Technically, the emphasis is on the channel borders, as well as on the resistance of 2677 and 2690. A sharp approach of the price to these zones may provoke a pullback. Resistance levels: 2667, 2677, 2690 Support levels: 2660, 2654 If the bears hold 2660, the gold may correct to the channel support. But at the moment the price is heading towards the resistance. Keep an eye on these levels! Regards R. Linda!
FX:XAUUSDLong
by RLinda
8
Geopolitical risks pushed GOLD to increase rapidly in the short In the early trading session on Asian markets on Friday (November 29), OANDA:XAUUSD Spot rose suddenly and rapidly from the intraday low of $2,633 and headed into a key technical position for technical downside expectations. Impacted by escalating tensions in Ukraine. Russia launches joint attack, Putin "speaks tough" While Israel and Lebanon have reached a 60-day ceasefire agreement, this will essentially create pressure on gold as market risks become less. However, the escalation in the Russia-Ukraine conflict may continue to keep gold prices stable above 2,600 USD/ounce in the near future. The latest Reuters report on Friday said that Russian President Vladimir Putin on Thursday local time said Russia could use the new "Hazel" hypersonic missile to attack Kiev in response to Ukraine's missile launch. Western fire penetrated deep into Russian territory. So far in the 33-month war, Russia has not yet attacked Ukrainian ministries, government agencies, parliament or the presidential office. Putin said on Thursday that Russia's large-scale attack on Ukraine was a "response" to Ukraine's use of Western missile systems to attack Russian territory. Earlier in the day, Ukraine reported that energy facilities across Ukraine were being attacked by Russian armed forces. Ukraine's Air Force said Thursday that Russia launched a joint attack on Ukraine using missiles and drones starting early that morning. Most regions in Western Ukraine are under attack, especially Ternopil, Lviv, Lutsk, Vinnitsa, Khmelnytsky and others. Ukrainian President Zelensky said on the social platform on Thursday that he had a conversation with the Air Force commander, the Minister of Internal Affairs and the Minister of Energy that day about the Russian attack. Mr. Zelensky said that the target of Russia's attack this time is Ukraine's energy infrastructure. Russia launched about 100 attack drones and more than 90 missiles of all types. In the current market context, traders need to pay attention to geopolitical conflicts, their escalation or reduction will have a sudden impact on gold in the short term. Analysis of technical prospects for OANDA:XAUUSD Gold recovered from the 0.618% Fibonacci retracement level but is temporarily limited by the 0.50% Fibonacci retracement level and the EMA21 moving average. In the short term, Gold can still decrease in price as long as it has not broken the medium-term trend price channel. In the immediate future, gold does not have enough conditions to increase in price in the short term, but a drop below the 0.618% Fibonacci retracement level will cause gold to fall further with the goal of reaching the original price point of 2,600 USD. However, geopolitical risks are dominating the market, so any purely technical structure could be broken quite easily during this time. The $2,693 level will be the next target in case the 0.50% Fibonacci level is broken above. The market is very volatile in the short term, so long-term open positions will be less effective, and notable technical levels for the medium-term bearish outlook from the price channel on the daily chart will be seen. noticed again as follows. Support: 2,644 – 2,634USD Resistance: 2,663 – 2,693USD SELL XAUUSD PRICE 2686 - 2684⚡️ ↠↠ Stoploss 2690 →Take Profit 1 2679 ↨ →Take Profit 2 2674 BUY XAUUSD PRICE 2579 - 2581⚡️ ↠↠ Stoploss 2575 →Take Profit 1 2586 ↨ →Take Profit 2 2591
OANDA:XAUUSD
by Xayah_trading
GOLD → Trading inside the channel from the range boundariesFX:XAUUSD declines to 2620 amid positive news from the Middle East, but the overall fundamental background is still difficult. Today is low liquidity due to the Thanksgiving holiday in the US. The gold price is down amid a ceasefire between Israel and Hezbollah on Wednesday. But on Wednesday night there were reports of an escalation of conflict in Aleppo, Syria .... Also not to forget the escalated conflict in Eastern Europe. The dollar is still in consolidation, given that today is a holiday in the U.S., there may be low liquidity and high volatility in the market. Accordingly, an exaggerated price movement in gold cannot be ruled out. Technically, gold is flat, so we consider trading from the range boundaries. We focus on the local channel from H1 2660 - 2618 and the global channel from D1 - 2689 (2710) - 2605. Resistance levels: 2660, 2604, 2678, 2689 Support levels: 2618, 2605 Accordingly, in the momen, gold is heading towards the liquidity above. False breakdown of the key resistance zone and price consolidation in the selling zone may form a price decline to the lower boundary of the flat. Rate, share your opinion and questions, let's discuss what's going on with ★ FX:XAUUSD ;) Regards R. Linda!
FX:XAUUSDShort
by RLinda
10
GOLD → Controversial fundamental background. What's next?FX:XAUUSD is taking advantage of the dollar weakness and heading towards the zones of interest and liquidity 2665 - 2688. Overall, the fundamental backdrop is not stable, but at the same time weak for gold. PCE, GDP and resistance ahead.... The ceasefire agreement between Lebanon and Israel has entered into force. This has helped to reduce demand for the US dollar, which is generally reflected in the forex market. Gold is feeling support from sustained expectations for the Fed and uncertainty over the outlook for global trade during the Trump presidency, which intends to impose new tariffs on Canada, China and Mexico. Ahead of the upcoming macroeconomic news from the US are PCE and GDP. Technically, gold is in a sideways range and is looking up towards zones of interest from which a correction could form. But this reaction is partly dependent on the news as well.... Resistance levels: 2660, 2664, 2680 Support levels: 2620, 2605 The focus is on the imbalance zone, 0.7 fibo and 2680 area. Due to the controversial technical and fundamental background, the gold price may close inside a wide channel, which allows us to use its boundaries for trading. We are watching the resistance with a sell target for further downside Rate, share your opinion and questions, let's discuss what's going on with ★ FX:XAUUSD ;) Regards R. Linda!
FX:XAUUSDShort
by RLinda
20
GOLD fell rapidly in the short term, pressured by US dataIn the early trading session in Asian markets on Thursday (November 28), OANDA:XAUUSD Spot delivery suddenly dropped sharply in the short term, currently trading around 2,629 USD/ounce. Gold prices gave up much of their earlier recovery gains after data showed inflation progress was stalling, as the data could make the Federal Reserve cautious about cutting interest rates further. According to Wednesday's economic data, US durable goods orders rose 0.2% month-on-month in October. While it did not meet expectations of 0.5%, it was an improvement. improved compared to a decrease of 0.4% in September. The number of people applying for unemployment benefits in the US in the week of November 23 remained stable at 213,000, lower than the expected level of 217,000. The real (quarterly annually adjusted) rate of gross domestic product (GDP) in the United States in the third quarter was unchanged from its baseline value, at 2.8%, and growth slowed from 3% in the second quarter. But the GDP report still shows that the US economy still has good resilience. GDP growth has exceeded 2% in eight of the past nine quarters. A report released by the US Department of Commerce showed that the Fed's favorite inflation index rebounded in October compared to September. The data supports Fed officials taking a more cautious stance in recent times. next interest rate cut. The Fed's favorite measure of inflation, the core personal consumption expenditures (PCE) price index that excludes volatile food and energy, rose 2.8% year-on-year in October, a highest since April this year compared to September, up 2.7%. Additionally, the core PCE price index increased 0.3% month-over-month in October, in line with expectations. The PCE price index increased 0.2% month-over-month and 2.3% year-on-year in October, both in line with the forecasts of analysts surveyed by Dow Jones. The PCE index's annual increase in October was higher than September's 2.1% gain. Wednesday's data showed that U.S. personal income rose 0.6% month-on-month in October, significantly better than the expected increase of 0.3%. Minutes of the Federal Reserve's November monetary policy meeting released Tuesday showed that although Fed officials said they expected to continue cutting interest rates in the future, they said the pace Interest rate cuts will take place “gradually”. The gold market fluctuated strongly this week. As Israel and Iran-backed Hezbollah in Lebanon declared a ceasefire, reducing demand for safe havens, gold suffered its biggest one-day drop in more than five months on Monday and prices fell to a low. most since November 18 on Tuesday. Analysis of technical prospects for OANDA:XAUUSD On the daily chart, gold continues to maintain its main bearish trend after approaching and coming under pressure from the 21-day moving average (EMA21). The drop below the 0.618% Fibonacci retracement is a good signal for bearish expectations as the target behind that is at the levels of 2,606 – 2,600USD. Note to readers in the previous issue. On the other hand, the Relative Strength Index is flat below 50, if it is pointing down this can be considered a good signal for a downtrend. As long as gold remains below the EMA21 and within the price channel, it will remain bearish in the near term and price rallies should only be considered short-term recoveries without changing the current primary trend. During the day, the technical outlook for gold is bearish with notable points listed as follows. Support: 2,606 – 2,600USD Resistance: 2,634 – 2,644USD SELL XAUUSD PRICE 2686 - 2684⚡️ ↠↠ Stoploss 2690 →Take Profit 1 2679 ↨ →Take Profit 2 2674 BUY XAUUSD PRICE 2579 - 2581⚡️ ↠↠ Stoploss 2575 →Take Profit 1 2586 ↨ →Take Profit 2 2591
OANDA:XAUUSD
by Xayah_trading
1
GOLD recovered from $2,606, before a series of key weekly dataIn the Asian market on Wednesday (November 27), OANDA:XAUUSD Spot delivery is trading around 2,638 USD/ounce. During this trading day, investors will receive many important data such as the US PCE inflation index, which is expected to create great fluctuations in the gold market in particular and the financial market in general. The US will release some headline data ahead of the Thanksgiving holiday today (Wednesday). On Wednesday, the US will release a series of important economic data, with US PCE inflation data expected to receive the most attention. Today, US durable goods orders for October, last week's initial jobless claims and third-quarter real GDP data will be released. Surveys showed the U.S. monthly initial durable goods ordering rate in October was expected to rise 0.5%, compared with a 0.7% decline the previous month. The number of Americans filing seasonally adjusted unemployment claims for the week of November 23 is expected to be 217,000, compared with 213,000 the previous week. Additionally, U.S. real gross domestic product (GDP) in the third quarter is expected to grow at an annualized quarterly rate of 2.8%. On the same day, the United States will release the personal consumption expenditures (PCE) inflation report for October. This is the Fed's preferred measure of inflation. Surveys show that the US PCE price index in October is expected to increase 0.2% monthly and 2.3% annually. Additionally, the US core PCE price index in October is expected to increase 0.3% monthly and 2.8% annually. The core PCE price index could cause a short-term market reaction, with investors expecting core PCE to rise 0.3% month-over-month in October, in line with September's gain. Data Stronger-than-expected data could boost the US Dollar in its initial reaction and drag gold prices lower. On the other hand, a level of 0.2% or lower could have the opposite impact on gold price action. Expectations for the Fed to cut interest rates by 25bps in December are currently at 63.1%, according to CME group's FedWatch data. Analysis of technical prospects for OANDA:XAUUSD Gold recovered from the initial support level noted by readers in yesterday's edition at 2,606 USD and is now close to reaching the initial target resistance at 2,644 USD. The recent decline has created a medium-term trend price channel for gold. This price channel is inclined towards the possibility of a decrease in price. Along with that, gold will also be under the current main pressure with the 21-day moving average (EMA21). In the interim, gold still has room to recover as long as it remains above its original price point of $2,600, on the other hand if gold breaks $2,644 it could continue to recover a bit further with a target then around $2,663 The price point of the Fibonacci 0.50% is confluent with the EMA21. However, in case gold falls below the original price point of 2,600 USD, it will be eligible for a new short-term down cycle to open, with a target of 2,591 USD in the short term, more than 2,538 USD. During the day, gold's technical outlook leans towards price reduction along with the above recovery levels, notable points will be listed as follows. Support: 2,606 – 2,600USD Resistance: 2,644 – 2,663USD SELL XAUUSD PRICE 2661 - 2659⚡️ ↠↠ Stoploss 2665 →Take Profit 1 2654 ↨ →Take Profit 2 2649 BUY XAUUSD PRICE 2579 - 2581⚡️ ↠↠ Stoploss 2575 →Take Profit 1 2586 ↨ →Take Profit 2 2591
OANDA:XAUUSD
by Xayah_trading
GOLD → A break of 2600 will make buyers panicFX:XAUUSD is returning to the sell-off phase due to the change of fundamental background. Buyers are unwinding their positions and the price is entering the sell-off zone The main reason for the fall is the ceasefire between Israel and Hezbollah. The first rumors appeared early Monday morning and the market reacted accordingly. Everyone is still waiting for the actual confirmation of the rumors. Also Trump is beginning to hint at increased tariffs on goods from Canada, Mexico and China. Active actions will start in January, after the inauguration of the new US president. But, the risks are still high due to the escalated conflict between Russia and Ukraine. Technically, gold is returning to the channel, marking a strong resistance at 2632 and 2620. (a retest of the zone is possible before a further fall). Resistance levels: 2632, 2620 Support levels: 2605 A price consolidation below 2620 or below 2605 will strengthen the sell-off phase. The fundamental background is weak, which increases the pressure of bears. In the mid-term, I expect the decline to continue after the breakdown of 2605-2600 Rate, share your opinion and questions, let's discuss what's going on with ★ FX:XAUUSD ;) Regards R. Linda!
FX:XAUUSDShort
by RLinda
19
The ceasefire between Israel and Hezbollah is the main pressureOn the Asian market on Tuesday (November 26), OANDA:XAUUSD Spot trading is still under pressure after yesterday's terrible plunge. Gold price is currently around 2,629 USD/ounce. Hopes for a ceasefire between Israel and Hezbollah are turning the gold price outlook bearish, with gold prices set to test $2,600 an ounce. On Monday, gold prices fell more than 3% on reports that Israel and Hezbollah were close to reaching a ceasefire agreement and that Trump nominated Bessant as US Treasury Secretary, reducing its appeal as a haven. Safe for gold. Two senior Israeli officials and two US officials told Axios that Israel and Lebanon are close to reaching a ceasefire agreement to end the conflict between Israel and Hezbollah, US-based Axios reported on Monday. According to the Israeli ambassador to the US, a ceasefire agreement between Israel and Hezbollah is very close. Authorities are expected to announce a 60-day ceasefire today (Tuesday). Previously, gold prices increased more than 6% last week, due to escalating Russia-Ukraine tensions. Britain's Reuters also reported today that US President Joe Biden and French President Emmanuel Macron are expected to soon announce a ceasefire between Hezbollah and Israel. According to Reuters, the French presidential palace announced that discussions on a ceasefire had made significant progress. In Jerusalem, a senior Israeli official said the Israeli cabinet would meet today (Tuesday) local time to approve a ceasefire agreement with Hezbollah. Analysis of technical prospects for OANDA:XAUUSD After yesterday's terrible price drop, gold is trying to recover from its original price point of 2,600 USD. However, the recovery also encountered a lower limit from the 0.618% Fibonacci retracement level, followed by horizontal resistance at 2,644USD. Technically, gold has conditions for a downtrend, with the price channel as the main trend, pressure from EMA21 along with the RSI pointing down, bringing activity below the 50 level. In the short term, if gold fails to hold above $2,600, a new bearish cycle could be opened with a target level of around $2,538 once $2,600 is broken below. However, currently gold still has the ability to recover with a resistance target of around 2,634 USD in the short term, more than 2,644 USD. During the day, the technical outlook leans to the downside with the following recovery levels. Support: 2,606 – 2,600USD Resistance: 2,634 – 2,644USD SELL XAUUSD PRICE 2661 - 2659⚡️ ↠↠ Stoploss 2665 →Take Profit 1 2654 ↨ →Take Profit 2 2649 BUY XAUUSD PRICE 2579 - 2581⚡️ ↠↠ Stoploss 2575 →Take Profit 1 2586 ↨ →Take Profit 2 2591
OANDA:XAUUSDShort
by Xayah_trading
Gold plunges as Trump 'trumps' seasonalsLast week I revealed in a video of my scepticism gold would tracks its seasonality into December , given its outperformance earlier in the year and the hunch that Trump 2.0 would likely to overshadow typical flows. And Trump's US Treasury Secretary cabinet pick has done just that. Monday's price action should serve as a stark reminder that seasonality has taken a back seat with its prominent bearish engulfing day and most bearish candle in four years. And there could be further losses ahead. The daily chart shows the drop from its all-time high (ATH) came in three waves, which suggests it is the beginning of a larger ABC retracement. Assuming Monday's engulfing candle was the end of wave B, a 100% projection (wave equality) could see gold fall to ~2460. note that the daily low found support around a high-volume node (HVN) and weekly S1 pivot point. A bullish divergence is also forming on the 1-hour RSI (2) to suggest a bounce. Bears could seek to fade into retracement within Monday's range to try and increase the reward to risk ratio. MS
COMEX:GC1!Short
by CityIndex
XAUUSD testing the 4H MA50. Entered technical buy zone.Gold (XAUUSD) gave us a strong bottom buy signal on our last analysis (November 18, see chart below) right after it touched the 1D MA100 (green trend-line) for the first time in 9 months (since February 15 2024): That was an ideal technical Higher Low for the long-term Channel Up and the rally that followed confirmed it. Since the Friday top however it got a heavy rejection and today is back on the 4H MA50 (blue trend-line). That is also the 0.5 Fibonacci retracement level, so it is gradually entering the 0.618 - 0.5 Fib Buy Zone. On top of that, we can see that throughout this Channel Up pattern, every break below the 4H MA50 (during Bullish Leg) was received with a massive bullish reversal. The 4H RSI Higher Lows trend-line can determine the approximate max extension of the price. In any event, this is a strong short-term buy opportunity. We keep our 2790 Target intact. ------------------------------------------------------------------------------- ** 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 → An unexpected shakeup. What's next? 2700 or 2600?FX:XAUUSD closed the session perfectly on Friday, hinting that it was preparing to move up to conquer the highs. But Monday morning's news shook up the market, eliminating buyers. What happened and what to expect? Gold's decline in the Asian session was due to news from the Middle East, with Israel tentatively approving a ceasefire agreement with Hezbollah in Lebanon. But, on the other hand - the escalation of the conflict in Eastern Europe, where the situation has become more complicated to some critical limits over the past few weeks. This is a two-edged sword. The market will react to any news coming from the two regions. No economic news is expected on Monday. Technically, the focus is on the sideways range of 2731 - 2660 and internal levels, among which the price may look for support.... Resistance levels: 2673, 2689, 2731 Support levels: 2660, 2643 If the price consolidates above 2673, then we should wait for a retest of 2689 (0.5 fibo). If the bulls continue to press the market, the gold may test 2721. But if the bears hold 0.5-0.7 fibo and retest 2660, then we should wait for a correction to the zones of interest and liquidity before a possible pullback Rate, share your opinion and questions, let's discuss what's going on with ★ FX:XAUUSD ;) Regards R. Linda!
FX:XAUUSDLong
by RLinda
18
GOLD MARKET ANALYSIS AND COMMENTARY - [Nov 25 - Nov 29]Last week, gold prices continuously recovered from 2,564 USD/oz to 2,716 USD/oz. The reason why gold prices increased sharply this week is because investors are concerned that the war between Russia and Ukraine will take a more serious turn when President Biden allows Ukraine to use long-range ATACMS missiles to fire into Russian territory to in response to Russia's deployment of North Korean troops in the Russia-Ukraine war. Besides, Mr. Biden seems to want to make his mark in the Russia-Ukraine war when he only has about 2 months left in power before handing it over to Mr. Donald Trump. In addition, according to many experts, this move by Mr. Biden may complicate the war between Russia and Ukraine, making it difficult for Mr. Donald Trump to end the hostilities as easily as he announced during the campaign. elect US President... Perhaps most alarming is the nuclear doctrine that Russia emphasizes. It considers any attack by a non-nuclear country supported by a nuclear power to be a joint attack. This means that Ukraine's use of ATACMS missiles also means that the US is directly involved in attacking Russia, making the war between Russia and Ukraine no longer a war between these two countries, but could potentially lead to a world war. War III. However, according to many experts, the US may only provide a limited number of missiles to Ukraine, fearing the dire consequences of this move. Therefore, the war between Russia and Ukraine is unlikely to drag many other countries, especially NATO member countries, into the war. Furthermore, with only 2 months left until Mr. Trump takes office as President of the United States, the war between Russia and Ukraine will soon subside. The need for refuge in gold may continue to increase in the short term as Russia and the US are still taking tough stances in the Russia-Ukraine war. Therefore, next week's gold price may continue to rise even higher. This week, the US announced two important indicators: third quarter GDP and personal consumption expenditure index (PCE) - an important inflation measure of the FED. If Q3 GDP declines and PCE increases, it will be difficult for the FED to resist further reducing interest rates, further supporting the rise in gold prices next week. On the contrary, if GDP increases and PCE decreases, the FED will have more motivation to delay cutting interest rates, causing gold prices next week to be negatively affected. 📌From a technical perspective, on the H4 chart, a head and shoulders pattern is forming, but a few more up/down cycles are needed to confirm. Specifically, if the gold price has a correction phase to around the support level of 2640, then bounces back to break the resistance level of 2711, then it can be expected that the price will continue to maintain its upward momentum above the 2790 threshold. In case of support area If 2600 is broken, it could trigger another sell-off, causing gold prices to fall to around 2500. Notable technical levels are listed below. Support: 2,684 – 2,697USD Resistance: 2,760 – 2,750 – 2,732USD SELL XAUUSD PRICE 2791 - 2789⚡️ ↠↠ Stoploss 2795 BUY XAUUSD PRICE 2639 - 2641⚡️ ↠↠ Stoploss 2635
OANDA:XAUUSD
by Xayah_trading