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Price Action On Gold/USDToday we had a bullish close on Gold, however,... based on the weekly chart momentum is slightly bearish. We're anticipating a strong move in either direction. So here's how we anticipate whether to go long or short. 📈Long: Price moves down to 1776.xx (marked on the chart) in the first few hours of the trading session. (setting a low of the day) 📉Short: Price moves up to our entry in the first few hours of the trading session. (setting a high of the day) ...and that's it! Happy Trading folks! Cheers!
OANDA:XAUUSDShort
by Kav1ka
1
Gold Spot / U.S. Dollar long term Risk-off sentiment making a comeback? StoneX cites 'early indications' of gold price turnaround Risk-off sentiment might be making a comeback in the second quarter, with "early indications" of a price turnaround for gold, according to StoneX. "After gold's performance in the first quarter of this year, when it posted its first quarterly decline since the September quarter of 2018, the price looks as if it is basing out," said Rhona O'Connell, head of market analysis for EMEA and Asia regions at StoneX. For most of the first quarter, gold fell along with the U.S. 10-year Treasury bonds due to the market's perceived inflationary risk. However, this trend seems to be changing in the second quarter, which means potential price reversal for the precious metal. "It would seem now that attitudes are changing slightly, with the ten-year bond rate easing, which is helping gold to stabilize," wrote O'Connell. "Whether this is a technical correction or a growing belief that the U.S. bond market has taken too much of a beating because there is still a long way to go, remains to be seen." The Federal Reserve keeps reiterating that it is not planning on raising rates any time soon, and markets might be starting to believe that promise, which could trigger a more risk-off environment, O'Connell pointed out. "In the background, the physical market in Asia has been picking up smartly, notably in China, with the local prices now at a premium of roughly $9/ounce over loco London," she said on Monday. "Elsewhere, the Perth Mint reports very strong sales of gold and silver coins in the first quarter, especially in Germany and the United States; gold demand thrived, and the Mint could not keep pace with silver coin demand. In March, the Mint sold over 130,000 ounces of gold and almost 1.6M troy ounces of silver in minted product form." Another price-positive trigger is that the central banks have once again started to buy gold. For example, Hungary's central bank raised its gold reserves to 94.5 metric tons from 31.5 tons, citing "long-term national and economic policy strategy objectives." From a technical perspective, gold's support remains around the 10-day and the 20-day moving averages at $1,730 and $1,732 an ounce. Resistance is still at the 50-day moving average of $1,757 an ounce. O'Connell said if gold can move past that resistance line, prices could be looking at the $1,820 an ounce target. "There are early indications that the price may be starting to turn around." Last week, gold failed to clear the $1,750 an ounce level, which could undermine sentiment, she noted. This week, markets are closely eyeing the Treasury auctions in the U.S., latest inflation figures, and Federal Reserve Chair Jerome Powell's comments at the Economic Club of Washington on Wednesday. Monday saw the sale of $58 billion of three-year notes and $38 billion of 10-year bonds. Tuesday will see the sale of 30-year debt.
FOREXCOM:XAUUSDShort
by BADQOMOCAWGOWLD
2
is GOLD coming ??As can be seen in the graph, Gold seems to form an upside-down Shoulder-Head-Shoulders formation over a very wide time interval. In such a case, if the $ 1670 levels, which it has been recently supported, will form the Right Shoulder, we can see the first target of $ 2180 and then the target will be $ 3000 because of the formation target. However, as a counter to the above scenario, prices must first break the downward trend, if not, we can see a retracement to one of the strongest horizontal resistances of $ 1400 . It contains only personal views and opinions. Does not contain legal investment advice ...
GLong
by EmoteK
Retest for the continuing bearish trend or a bullish breakoutHi, A technical analysis about GOLD price... If it will continue to fall or finally can make a breakout? I think we are going to know it anytime soon. I'll be on the bullish side if the price manages to break above the key level marked with the gray area (nearly 1750 USD). In that case I think prices will follow a path similar with the green bars pattern shown on the graph. And if the prices cannot break the key level than this means a confirmation for continuing the bearish trend. Than I think the scenario shown with the red bars patterns comes true. I share below the weekly view to show the fibo levels by the way.
FOREXCOM:XAUUSD
by hmrtu
XAU/USD GOLD Forecast: longHere is what to expect on Gold RECAP: (Previous Analysis) In our previous analysis the pair was trading at $1702 We expected a reversal at this point to the upside & cautioned that if the pair broke below this level it would most likely go back to the $1680 level. Hopefully the pair did reverse back to the upside, triggering our Buy Stop @ $1720 & also hitting our TP @ $1730 enabling us to bank 100 pips on the pair WHAT TO EXPECT: Currently trading @ $1730 Inverse head & Shoulders pattern on 1H chart We are still bullish on the pair & we still expect gold to test $1760 hopefully this week. This will be confirm if pair breaks above current downtrend trendline & also minor resistance at $1740 On the other hand if the pair falls below $1700 we might see it test previous lows of $1680 OUR POSITIONS: Buy Stop @: $1740 Buy Stop TP @: $1750 Sell Stop @: $1695 Sell Stop TP @: $1685 Link to previous analysis below Note: All investments involve risk, our analysis and trading strategy does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make.
OANDA:XAUUSDLong
by fxspott
XAU/USD UPDATE: LongHere is an update on the pair RECAP: In our previous analysis gold was trading at $1694 We were bullish on the pair and expected the pair to break above $1710 and test resistance at $1750 The pair did break above $1710 & was limited @ $1720 before a reversal to the $1710 level The pair triggered our Buy Stop @ $1710 which we banked @ $1720 after the formation of a bearish harmonic pattern @ $1720 We had other two active trades(posted on our group) on this pair which all closed at $1720 banking us a total of 700 pips on the pair WHAT TO EXPECT: Currently at $1710 We are still bullish on the pair and are still aiming for our $1740 TP target We have opened another buy order on the pair at this current level Bearish harmonic pattern shows that the pair might be short term bearish but seems limited @ $1708-$1705 Keep an eye on US10Y & DXY OUR POSITIONS: Buy Stop @: $1720 Buy Stop TP@: $1730 Sell Stop @: $1695 Sell Stop TP @: $1685 Link to previous analysis below Note: All investments involve risk, our analysis and trading strategy does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make.
OANDA:XAUUSDLong
by fxspott
XAU/USD GOLD Forecast: LongHere is what to expect on Gold RECAP: In our previous analysis the pair was trading @ $1694 We expected the pair to be bullish but did caution that the pair might attempt to touch June 2020 support level & this is what happened. None of our positions were triggered which we posted in our previous analysis but we entered longs/buys around the support level @ $1680 which we posted on our signal group WHAT TO EXPECT: Currently @ $1697 We expect the pair to continue its uptrend and try to test support/resistance @ $1750 The pair has to break above the descending triangle to confirm this The pair is currently forming a bullish harmonic trend on the 1D chart will post this shortly OUR POSITIONS: Currently in an active buy Buy Stop @: $1710 Buy Stop TP @: $1740 No Sell Stop positions have been opened link to our previous analysis below Note: All investments involve risk, our analysis and trading strategy does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make.
OANDA:XAUUSDLong
by fxspott
Inflation Correlation: Gold vs. DXY InsightsAbove is an attempt to solve the age-old question of whether or not inflation exists, and, if it does, how much of it is floating around in today's environment? I like gold because it makes a market that is purely free from exogenous intervention. You can be sure that the changes in the spot price of Gold are reflective of either one or two things: 1) society's demand (typically, lack thereof) for government intervention 2) accounting of monetary supply But, what I would like to understand is which one of these factors is driving up the price of gold during any given rally. In the chart above, I created a "real-demand" gold price line (orange) that equates as follows: Gold_realdemand = Gold.spot * (100/DXY). Essentially what this does is drown out the effect that changes in the dollar index have on the changes in gold's spot price. The purpose of doing this is not to present a standalone, transformed data series; the orange line in and of itself is only insightful when compared with the normal spot price of gold. That is, when the slopes of each data series diverge, that is when you can see the relative changes in actual demand. For example, both major gold rallies depicted in the chart above (white arrow, purple arrow) are actually showing the same thing; gold spot increased because of quantitative easing of some kind. Even if there is a clear margin between the two rising graphs, that does not imply a change in actual demand for gold. Rather, the difference between these would theoretically be "inflation" under this experiment. Thus, it is better to investigate the downward, bearish periods where divergence occurs in order to get a feel for actual demand in physical gold. Why? Because there is never a time when the FED has decreased the money supply, as far as my understanding of the past 10 years goes. Anyway, just thought this might be an interesting finding given the latest excitement over interest rates. -GoldDollahPig TVC:GOLD OANDA:XAUUSD TVC:DXY LSE:XG7U TVC:XAU
TVC:GOLD
by UnknownUnicorn5511258
2
XAU/USD Forecast: Short then longHere is our analysis on XAU/USD RECAP: In our previous analysis Gold was trading at $1810 We expected the pair to be bearish & trade back in the $1790-$1780 range and that's exactly what the pair did. The pair hit lows of $1783 triggering our Sell Stop at $1800 and hitting TP at $1790 enabling us to bank 200 pips on Gold WHAT TO EXPECT: Currently Gold is trading at $1793 Gold is still bullish long term, but short term we expect it to be bearish We expect gold to touch that $1780-$1760 level before a bullish reversal US10Y is currently limiting gold's bullish momentum. If gold manages to break above strong resistance at $1815 we expect it to test next resistance at $1830 OUR POSITIONS: Currently at $1792 Buy Stop @: $1820 Buy Stop TP @: $1830 Sell Stop @: $1780 Sell Stop TP @: $1770 Link to our previous analysis below Note: All investments involve risk, our analysis and trading strategy does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make.
OANDA:XAUUSDLong
by fxspott
XAU/USD Forecast: ShortHere is what tp expect on Gold RECAP: In our previous analysis Gold was trading at $1786 We expected the pair to be range bound between $1790-$1765 The pair did dip below the $1765 mark before going back to $1770 zone Yesterday the pair managed to break above $1790 and triggered our buy stop at $1795 and hitting our TP at $1805 which we set in our previous analysis, banking 200 pips on Gold WHAT TO EXPECT: Currently at $1813 Gold is currently trading at support/resistance Bearish harmonic pattern formed on the 1H chart (formation might extend) COT report showed -5k longs closed & +10k shorts opened on Gold last week So gold, might still be bearish If the pair struggles to break above current support/resistance we expect the pair to go back to $1790-$1760 On the other hand if the pair breaks above current support/resistance we expect it to test next resistance at $1830 OUR POSITIONS: Currently at $1813 Buy Stop @: $1820 Buy Stop TP @: $1830 Buy Stop TP 2 @: $1850 Sell Stop @: $1800 Sell Stop TP @: $1790 Sell Stop TP 2 @: $1780 Link to previous analysis below Note: All investments involve risk, our analysis and trading strategy does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make.
OANDA:XAUUSDShort
by fxspott
💡GOLD (XAUUSD) - Weekly Technical Analysis UpdateMidterm forecast: While the price is above the support 1762.05, resumption of uptrend is expected. We make sure when the resistance at 1875.15 breaks. If the support at 1762.05 is broken, the short-term forecast -resumption of uptrend- will be invalid. Technical analysis: While the RSI downtrend #1 is not broken, bearish wave in price would continue. A peak is formed in daily chart at 1855.50 on 02/10/2021, so more losses minimum to Major Support (1762.05) is expected. Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains. Relative strength index (RSI) is 37. ❤️ If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . . . . . . . . . . Drop some feedback below in the comment! ❤️ Your Support is very much 🙏 appreciated! ❤️ 💎 Want us to help you become a better Forex trader ? Now, It's your turn ! Be sure to leave a comment let us know how you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️
FX:XAUUSD
by ForecastCity_World
33
💡GOLD (XAUUSD) - Weekly Technical Analysis UpdateMidterm forecast: While the price is above the support 1762.05, resumption of uptrend is expected. We make sure when the resistance at 1875.15 breaks. If the support at 1762.05 is broken, the short-term forecast -resumption of uptrend- will be invalid. Technical analysis: While the RSI downtrend #1 is not broken, bearish wave in price would continue. A peak is formed in daily chart at 1855.50 on 02/10/2021, so more losses minimum to Major Support (1762.05) is expected. Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains. Relative strength index (RSI) is 37. ❤️ If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . . . . . . . . . . Drop some feedback below in the comment! ❤️ Your Support is very much 🙏 appreciated! ❤️ 💎 Want us to help you become a better Forex trader ? Now, It's your turn ! Be sure to leave a comment let us know how you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️
FX:XAUUSD
by ForecastCity
14