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Goldforecast

Gold weekly analysis (TF day)Gold has an unusual rose due to market panic from responding of China to the US house speaker's visiting Taiwan last week. However, the US dollar has bounced back, and gold had a minor correction last Friday. Gold is sideways in the upper zone of a downtrend (just above and very close to the upper grey solid line). The market is expected to maintain fluctuations this coming week. The moving of gold price between 1798-1754 is a neutral level to side-way up. If gold throughs above 1798, it could turn around to an uptrend (wave 3). Otherwise, gold below 1754 for a long time might lead it back to a downtrend (wave c). Breaking either edge may rapidly choose its direction. Thus, consider locking in profit when you can make money. The short-term strategy this week is to trade in the channel of 1798-1754 and book each small profit. The market is likely to be choppy. Don't forget to apply your stop loss. Have a good week!!
BLACKBULL:XAUUSD
by ThiMars
GOLD Detailed analysis for the week aheadHi Team, Last week my analysis for Gold was on point - we saw a big breakdown after the much higher than anticipated Aug Non-Farm Payroll result. This week I am expecting a retracement. We saw rejection of the daily ascending resistance (see chart) and will, I expect, move up to our original sell zone. I do not expect a break above the weekly descending channel resistance. From a chart analysis/Wave analysis stand point therefore, we look good for a Bear run on Gold. The issue will be news. We are all aware of general (international) market sentiment, and that can make things less predictable. So with that said, the news this week: Tuesday 9th Aug at 1230 : Non Farm productivity - Look for a higher number than -4.5% (AKA closer to 0) to indicate bullish pressure. If lower, we may see a push to higher entries. Tuesday 9th Aug at 1230 : Unit labour cost. This is expected to be lower than previous which is bad (Bearish) for the USD, and therefore bullish for gold. Overall impression for Tuesday 9th Aug: Expect Gold to climb toward previous sell zone. Wednesday 10th Aug at 1230 : This is the "big" news day this week. The main two things to look for are the CPI month on month (MoM) and year on year (YoY). Without over complicating things for you, a HIGH number is good for the USD, and therefore bearish for Gold. The FED has maintained a very aggressive stance regarding inflation, and I would be unsurprised to see a figure higher than anticipated. In that scenario, I would expect a significant drop on Gold - this time looking for it to break daily ascending correction. Overall impression for Wednesday 10th Aug: Look for a big impulse down on news release. If it goes against us, expect repeated rejection from descending weekly resistance. Thursday 11th August at 1230 : Several moderate impact USD news events, but none likely to contribute significantly to the impulse commenced on the 10th. IJC and PPI are set to be approximately equivalent. Overall impression for Thursday 11th Aug: No major changed expected. Friday 12th August at 1400 : Michigan Consumer Sentiment Index (MCSI) This is high impact news. The current anticipated reading is slightly higher than last months recorded, and therefore likely to be bullish for USD. This will play out in one of three ways: - If we started a bear run on Wednesday, look for continuation and break below the trend line noted on the chart. - If we started a bull run Wednesday, look for rejection from descending weekly resistance - If this reading is lower than expected, we may get another bounce up from the ascending daily correction support noted on the chart Overall impression for the week: I expect a climb to the recent sell zone before news on Wednesday pushes the price of Gold down, a move expected to continue after news on Friday. I will post closer time-frame set ups over the next couple of days, so please like follow, share and subscribe! Good luck, Trade safe DrBear
TVC:GOLDShort
by DrBear
2
GOLD is in buy zone!!GOLD ( 4H ) has created strong bullish price action. The price has just broken out of weekly resistance and has formed a Doji ( Middle man ). There is another confluence for GOLD to rise is that the price has made a fake breakdown previously and created a double bottom and started the move in the direction of the trend, which is basically liquidity grabbing. A buying opportunity from the support shown in the image. Thank you for visiting the idea. Press the like button if you find value in it :)
TVC:GOLDLong
by ForexWizard01
Gold analysis: Is the tide rising now? Gold has risen 5.5% from its July 21 low of $1,680 per troy ounce, as market sentiment suddenly shifted to safe-haven assets in the aftermath of a slew of recession-risk events and rising geopolitical tensions between the United States and China over Taiwan. According to the latest Commodity Futures Trading Commission (CFTC) weekly Commitments of Traders (COT) report, gold net speculative positions increased by 34% to 124.3K contracts on the week ending August 2, up from 92.7K the previous week. This marks the largest weekly increase in gold net speculative positions this year. Speculators' positioning on gold has consistently declined from a peak of 274.4K in the first week of March to 92.7K at the end of July, the lowest level since May 2019. Despite this uptick, gold's positioning still remains quite weak, implying that a shift in sentiment toward gold could result in significant upside price pressures. Looking at technical indicators, the 14-day RSI recently broke above the 50 mark, also rising from severely oversold levels, indicating that bulls have gained the upper hand in the short-term momentum. Last Friday, however, the release of the US labour market report weakened gold's price momentum slightly, as both non-farm payroll (528,000 vs. 250,000) and hourly wages (5.2% yoy vs. 4.9% yoy) soared far above expectations, causing a repricing of Federal Reserve rate expectation to the upside. However, unlike past Fed rate repricing episodes in May and July, this one did not result in a massive gold's sell-off. Consequently, this could be an early sign that the negative relationship between gold and the Fed's expected interest rates is beginning to dwindle. If this narrative gained further traction, gold would resume its traditional function as a hedge against inflation. Another print above expectations (8.7 percent year-over-year) would certainly prompt Fed rate responses, but also raise further doubts that this inflation can be tamed through rate hikes, potentially weighing on the dollar and favouring gold.
TVC:GOLD
by Capitalcom
GOLD LONGmy confluences; d; the big trend is bearish 4h; bullish ( for a quick intraday trade imma follow the 4h trend) broke the range zone price broke above resistance broke the previous HH with high momentum above 50/20emas 1h long wick rejection . 15m my entry was on the close of an engulfing candle sl; previous swing tp; nearest s/r a quick one price may reverse on me at any moment cus its a counter trend trade RM; risk; always 1% or less rrr; the mini target 3.1 PSY; protect capital first then make money second always manage ur risk vs reward be patient on ur setups advice; when the position is on profit trailing stops and scaling onto the trade while letting previous once risk free.
FOREXCOM:XAUUSDLong
by Ily14