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Gold price today: Reversal to increase. Today's gold price has experienced a slight upward movement, currently hovering around $2,657 per ounce, with an increase of 0.39%. According to the chart, the price broke above the key resistance level at $2,660. However, there is still a significant resistance around the $2,686 mark. A breakout above this level could lead to further bullish momentum, possibly pushing gold toward the $2,700 range. Technical indicators suggest the market is consolidating around these levels, with the price moving above key EMAs, showing potential for further upside. However, a failure to sustain the momentum could bring the price back to the support zone near $2,636​.
OANDA:XAUUSDLong
by Pierce_Bowers
Gold price today.Gold extended its rally on Friday as U.S. inflation data further strengthened expectations for an interest rate cut later this year. At the same time, safe-haven demand surged amid growing concerns over geopolitical tensions in the Middle East, providing an additional boost to bullion prices. A report released during the day showed U.S. producer prices remained unchanged in September, signaling a favorable inflation outlook and reinforcing hopes that the Federal Reserve will lower rates next month. In this context, the PPI figures appear to favor the bulls in the precious metals market, suggesting that the Fed is still on track to proceed with its anticipated rate cut.
OANDA:XAUUSD
by Pierce_Bowers
EURUSD week 42 analysis🌐Fundamental Analysis EUR/USD consolidated near 1.0930 in New York trading on Friday. The major currency traded sideways as the US Dollar (USD) remained flat despite the release of US Producer Price Index (PPI) data showing that producer inflation accelerated faster than expected in September compared to a year earlier. The US Dollar Index (DXY), which tracks the greenback against six major currencies, hovered around 103.00. Higher-than-expected US producer inflation following stubborn inflation data has raised the risk of persistent inflation. However, according to CME's FedWatch tool, this is unlikely to affect market expectations that the Federal Reserve will cut interest rates by 25 basis points (bps) in November. In contrast, Atlanta Federal Reserve Bank President Raphael Bostic has suggested keeping interest rates unchanged at 4.75%-5.00% in November. 🕯Technical Analysis EURUSD's bearish wave has not stopped yet as the pair's DOW waves have not yet shown strength. The strong reaction at 1.090 has established this area as an important support area for the pair next week. The upper limit in front of us is the peak area of ​​1.0980. The widest trading range that the pair will operate next week is around the support area of ​​the previous month's bottom around 1.080 and the disputed resistance area of ​​1.104. The SELL point coincides with Fibonacci and EMA so we can put our trust in trend SELL orders. 📈📉Trading Signals BUY EURUSD 1.080-1.078 Stoploss 1.076 SELL EURUSD 1.104-1.106 Stoploss 1.108
by TVS-Trader
Gold prices unexpectedly increased at the end of the sessionWith positive signals from the breakout of the downtrend channel and the support of the EMAs, gold (XAUUSD) is showing a great opportunity for investors. If the price continues to hold above the $2,636 zone and breaks out above the $2,665 level, we can expect a strong rally to $2,680 and beyond. Trading recommendation: Investors can consider buying orders when the price remains above the $2,636 support zone, with profit targets at $2,665 and $2,680.
OANDA:XAUUSDLong
by ConanTradingFX
XAUUSD: Regaining the psychological threshold of 2650Dear friends, XAUUSD continues to gain some recovery momentum as it has reclaimed 2600, but the main trend and the long-term trend are still moving sideways. Currently, the price is approaching the psychological level of 2650 and at the same time is approaching the limits of the Bollinger Bands. A downside correction is expected when the pair reaches the level, the targets are the support levels of 2625 and 2605. And you, how do you think XAUUSD will move on the last trading day of the week!
OANDA:XAUUSDShort
by ConanTradingFX
Gold Analysis October 10Fundamental Analysis Gold prices attracted some buyers on Thursday and now appear to have snapped a six-day losing streak to a near three-week low around the $2,605-2,604 region tested the previous day. However, the rally lacked bullish conviction and is likely to run out of steam amid growing bets that the Federal Reserve (Fed) will cut its benchmark interest rate by 25 basis points (bps) in November. This has helped the US Dollar (USD) maintain its recent strong gains to an eight-week high and will act as a drag on the non-yielding yellow metal. Traders may also prefer to stay on the sidelines and wait for the release of key US consumer inflation figures later in the North American session. The important US CPI report could influence expectations for the size of the Fed rate cut next month, which would boost demand for USD and provide some meaningful impetus to Gold prices. In addition, developments surrounding the ongoing conflicts in the Middle East will be looked at to capture short-term opportunities around the safe-haven precious metal. Technical Analysis The price range to watch for CPI trading strategies. The upper price range of 2626 and 2638 became one of the first major SELL zones in the Asian session yesterday. The 2638-2640 area is the critical zone of the EMA. The lower price range is focused on the US session around 2605 and the important breakout zone of 2594 will be notable in today's US session. This short-term downtrend is not over yet as the gold price has not been able to close the day above the 263x area. Wishing everyone a successful trading.
OANDA:XAUUSD
by TVS-Trader
Gold price today: expected to continue the decline!Hi everyone! The global gold price continues its downward spiral today, extending its decline from the peak of $2,670 per ounce and at times dropping close to the $2,600 mark. This marks the sixth consecutive day of losses for the yellow metal, with the primary reason being the strong rally of the US dollar. The US Dollar Index has now hit its highest point in nearly two months, making gold more "expensive" for those trading in other currencies. Adding to the pressure, the market is also grappling with expectations around the US Federal Reserve's (Fed) potential interest rate cut in the upcoming November meeting. According to the latest Fed policy meeting minutes, some officials are leaning toward a more significant rate cut, while others favor a more conservative 25 basis point cut, arguing that a 50-point cut might be too risky.
OANDA:XAUUSDShort
by ConanTradingFX
XAUUSD: Should I buy or sell!Hello everyone! Today, gold is showing a clear downtrend. Especially after breaking through the key support level at $2630, the downward trend has become even more pronounced. This decline is further confirmed as gold continues to trade below the EMA 34-89 moving averages and remains confined within a parallel descending channel (2625 - 2645), signaling that buying momentum in the market is gradually weakening. Additionally, investor sentiment has been dampened as expectations of the Fed maintaining its loose monetary policy have significantly diminished. This has given the USD more strength, further pressuring gold, a non-yielding asset. With these clear signs of weakness, according to Conan's analysis, it's highly likely that gold will continue to drop in the short term, potentially falling below the $2600 mark as long as the descending channel remains intact.
OANDA:XAUUSDShort
by ConanTradingFX
Gold price analysis October 9Fundamental Analysis Gold prices fell sharply on Tuesday following a strong US jobs report and news reports that Hezbollah backed calls for a ceasefire in the conflict between it and Israel. As a result, hints of a possible de-escalation of the Middle East conflict opened the door for traders to take profits. XAU/USD traded at $2,615, down more than 1%. This prompted a sell-off in XAU/USD, which fell more than $35 to an intraday low of $2,604 before buyers took it to the current spot price. Additionally, rising US Treasury yields weighed on the non-yielding metal. The benchmark US 10-year yield remained unchanged above 4%, but has risen more than six basis points this week following last Friday's September Non-Farm Payrolls (NFP) report. Against this backdrop, interest rate traders have adjusted their expectations for the next move by the Federal Reserve (Fed). Most Fed speakers have been gradual in their tone toward easing monetary policy. However, some, like St. Louis Fed President Alberto Musalem, only expect one more cut by year-end after backing a 50 bps cut in September. Technical Analysis The Asian session range that we are paying attention to is around 2603 and 2627. The bottom support zone that the US session touched last night is also known as session support. The resistance zone is a breakout retest zone that the market respects. The upper range converges with the 34 EMA for a good trading plan in the Asian session. In the US session, the price range is wider with the price zone of interest around 2592 and the resistance of 2648 is considered a key price zone to hold the price from long declines.
OANDA:XAUUSD
by TVS-Trader
Will GOLD continue to hold back the bulls?XAUUSD - 24h expiry Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible. We are trading at overbought extremes. A higher correction is expected. Preferred trade is to sell into rallies. Bespoke resistance is located at 2660. We look to Sell at 2662.2 (stop at 2678.2) Our profit targets will be 2622.2 and 2612.2 Resistance: 2654.0 / 2670.2 / 2685.6 Support: 2632.0 / 2624.7 / 2600.0 Risk Disclaimer The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit. You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
OANDA:XAUUSDShort
by OANDA
Gold Price Analysis July 10Fundamental Analysis Gold (XAU/USD) traded negative for the fourth consecutive day on Monday, despite no follow-through selling, remaining confined within a familiar range that has held for the past week or so amid mixed fundamental signals. Friday’s upbeat US jobs report dashed market expectations for more aggressive easing by the Federal Reserve, helping the US Dollar (USD) rise to near seven-week highs and weighing on the non-yielding yellow metal. In addition, the underlying bullish tone across global equity markets further undermined safe-haven Gold. However, any meaningful corrective pullback remains elusive amid persistent geopolitical risks stemming from ongoing conflicts in the Middle East, which tend to favor the precious metal. Traders may also want to wait for the FOMC meeting minutes to be released this Wednesday and the US consumer inflation data on Thursday. Technical analysis Gold has bounced strongly from the session support zone of 2640. At the moment, the trading range of gold is relatively wide and the NF has not been able to help gold form a new specific trend. In the h4 or h2 time frame, the trading range is clearly seen at 2635 and 2670. When this range is broken, the price will form a new trend. Besides, we pay attention to the areas that are prone to fake 2625 and 2685.
OANDA:XAUUSD
by TVS-Trader
XAUUSD: getting support!Gold prices continued to fall slightly this morning, and I couldn't help but notice the impact of the tension in the Middle East. Gold has always been considered a safe investment channel when world politics fluctuate, and since the beginning of 2024, the price has increased by more than 28%. This is not accidental, but largely due to concerns about escalating tensions in the region. The market is currently very sensitive to political fluctuations, and I see many investors still waiting for new moves from the Fed. According to David Morrison, an analyst at Trade Nation, the expectation that the Fed will continue to cut interest rates below 3% is a strong supporting factor for gold prices.
OANDA:XAUUSDLong
by ConanTradingFX
XAUUSD: Sideway The chart indicates that gold prices are moving sideways within a relatively narrow range on the H1 timeframe. Support is around 2,645, and resistance is near 2,665, forming a clear consolidation zone. The price is currently fluctuating within this range, without any strong signs of a breakout. Market factors, such as the strengthening of the US dollar due to expectations around US economic data or geopolitical tensions in the Middle East, may continue to pressure gold prices. If the dollar remains strong, gold may stay in this consolidation range until a clear breakout occurs.
TVC:GOLD
by Pierce_Bowers
XAUUSD: New Day Trading Strategy!Currently, XAUUSD is hovering around the 2662 USD mark, and it seems that the price has remained relatively stable over the past few days. On the other hand, the resistance level at 2670 is acting as a significant barrier to upward momentum. Interestingly, XAUUSD is forming a green candlestick right above the parallel wedge. If this candle closes above the wedge, we could fully expect a strong breakout, aiming for new profit targets. Additionally, the positive signals from the EMA 34 and 89 are reinforcing this view, indicating a clear upward trend. Investors might consider opening BUY positions on shorter timeframes, once the price confirms a breakout from the current range, provided that the support level around 2654 USD holds firm.
OANDA:XAUUSDLong
by ConanTradingFX
XAUUSD todayHello everyone, Gold prices today continue to slide, dropping to $2,642, down 0.6% on the day. This decline is largely driven by the U.S. Dollar (USD) extending its strong recovery, after hitting its lowest point since July 2023, now reaching its highest level in three weeks. This comes amid fading expectations of the Federal Reserve (Fed) implementing further aggressive monetary easing. Moreover, gold closing below the $2,650 mark signals that the precious metal is entering a short-term bearish zone, with the next target expected to hit $2,630. What are your thoughts on the current gold price situation?
OANDA:XAUUSDShort
by ConanTradingFX
XAUUSD today !Looking at the XAUUSD 2-hour chart you provided, we can see that the price is currently trading around $2,658 after a slight retracement from the resistance zone around $2,685. The chart shows that gold is still facing pressure from the resistance zone marked by the orange rectangle at the top, which has been tested several times but has not yet been decisively broken. Technical Analysis: Resistance Zone: The resistance zone near $2,685 seems to be acting as a strong barrier, with prices reacting negatively whenever they come close to it. If this resistance holds, we could expect a further pullback. Support Zone: The blue support area around $2,620 is clearly a critical zone. Any price movements down to this area may offer strong buying interest. A bounce from this level could signal a continuation of the upward trend. EMA Levels: The price is still above both the 34 EMA ($2,653) and 89 EMA ($2,641), indicating that the overall trend remains bullish, although short-term corrections are expected. RSI Divergence: On the RSI, we see multiple bearish divergence signals, which suggest that the upward momentum is weakening. This might indicate a potential retracement in the short term before a stronger move upwards. News Influence: The hot geopolitical tensions and economic data are fueling uncertainty, which often benefits gold as a safe-haven asset. Recent developments, such as uncertainty around global inflationary pressures and the Federal Reserve’s cautious approach to interest rate hikes, continue to support gold prices. Investors are still considering gold as a hedge against these factors, further strengthening the bullish outlook. In summary, we are in a phase where a potential retracement toward $2,620 may happen before we see another push toward breaking the $2,685 resistance level. If this break occurs, we could see gold targeting $2,700 and even higher toward the $2,750 psychological level. What do you think? Will the support hold, or do you see further downside potential before the next move up? Let's discuss!
OANDA:XAUUSDLong
by ConanTradingFX