Gold price skyrocketed after a day Hello traders!
Yesterday, gold experienced extremely strong breakthroughs, easily surpassing the barriers at the 1888 and 1900 USD levels. Currently, gold has closed its trading with a rapid price jump, pausing at 1932 USD and increasing by approximately 3.40% in a day.
The upward momentum is still showing no signs of cooling down, with strong support at 1890 and 1905 USD. The price target of 1970 USD is highly regarded for this price surge.
Goldidea
XAUUSD - Precious metals level off after 'galloping'Last week, the gold market witnessed the most impressive breakthrough since early spring when the price of this precious metal increased by more than 60 USD/ounce thanks to strong safe-haven demand at both the beginning and end of the week.
Kitco News's latest weekly gold survey shows that market analysts and retail investors expect gold to continue to increase in price in the week ending October 20.
On the data front, this week was a relatively quiet week with little important data being announced. In addition, September US retail sales numbers will be announced on Tuesday, the market awaits Fed Chairman Jerome Powell's speech on Thursday.
In addition, the US announced tightening sanctions on Russian crude oil exports on Friday, causing oil prices to increase to 90 USD/barrel. Some analysts note that as oil prices continue to rise, gold's role as a safe haven will help fend off risks, which is even more beneficial for gold.
GOLD:Downtrend
Gold is still in a downward trend, but from a technical point of view, it has already stopped falling yesterday, and all RSI indicators in each cycle are oversold.So I think there is still room for a rebound today.
Today I bought below 1820 and all made a profit, but today the risk has increased.
However, the technical indicators are still oversold, so the range we choose now should be reduced. Below 1815, we can buy in small batches.
Because it is a downtrend, it is necessary to strictly stop loss.
Now the space for gold is getting smaller and smaller. If you have very little funds, you can wait for gold to choose the direction before trading.
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Gold formed 5 ellott waves: discount on 1D chartHello traders! On the 1D chart, we can see that a 5-wave Elliott pattern has formed. The downtrend from the high of 2050 has not been broken yet.
Currently, gold has risen to a resistance level at 1888 USD, so a short-term price decline may occur with immediate support at 1860 USD.
My target price is 1920 USD, with gold expected to reach the upper limit of the downtrend channel as analyzed.
Gold on the weekend, noted what?Hello traders!
On the 1D chart, the downtrend channel continues to be active, and gold is still developing positively this week with a high price of $1883. However, it has not yet broken out of the prolonged downward trend.
Expectations are that after gold reaches the upper limit of the uptrend channel at $1910, there will be a drop. On the other hand, breaking the trendline at $1910 in the future could open up new highs for gold. However, I still have a strong belief that prices will decline in the near future because EMA and RSI are still supporting discounts
Does gold price regain $ 1900?Hello dear friends! As predicted yesterday, there hasn't been much significant movement in the price of gold, whether it's an increase or decrease, as it seems that the market is focused on the upcoming PPI and USD news to be released today and tomorrow. These could be important news for gold at the current time.
On the upside: Gold has started a sideways trend after a breakthrough to $1861 on Monday. Currently, the precious metal is trading steadily at $1863. The next moves after breaking through the resistance level at $1873 could provide further momentum for gold aiming towards the expected high of $1900.
XAUUSD/GOLD UPDATE For today setup, i like to make sell position at price 1900 - 1903 for short position
for now i see Gold can push until Resistant Daily and i will sell at this point because for retestment only . if you guys see the weekly timeframe. you can see this key point is breakout for countinue sell.
🎯 The Ideal Combo for trading:
📌 A discipline mind
📌 A trading edge
📌 Risk management
📌 Long-term mentality.
GOLD/XAUUSD UPDATE ON TF H4For today setup, i like to make buy position at price 1861 - 1858 for Long position until 1885
for now i see Gold can push until breakout daily 1884 - 1888 and i will sell at this point because follow trend . if you guys see the weekly timeframe. you can see this key point is breakout for countinue sell.
🎯 The Ideal Combo for trading:
📌 A discipline mind
📌 A trading edge
📌 Risk management
📌 Long-term mentality.
GOLD Analysis 13Oct2023The current trend for gold shows that the price is still within a bearish channel, despite a bullish week. This means that the target price still remains within this bearish channel. It is important to note that there is a possibility of a sudden and significant price reduction at any time.
Gold price stands close to the highest level in two weeksHello dear friends!
Gold is currently increasing as we predicted yesterday, with a reversal from the EMA 34 and 89 opening up an upward trend. Additionally, gold has received a price boost as news from last night caused the USD to cool down and adopt a defensive stance, helping gold bounce back.
From a technical analysis perspective:
Gold needs to maintain its ability to rise today at the $1800 level in order for the upward momentum to continue. On the other hand, gold prices may face a challenge near the $1860 area (EMA 34 zone), and a deeper decline could reach the round number of $1840 (EMA 89 zone).
What are your thoughts on the price of gold today and in the near future?
XAUUSD 12/10 MovePair : XAUUSD ( Gold / U.S Dollar )
Description :
Completed Impulse Correction ( ABC ) Impulse. Symmetrical Triangle as an Corrective Pattern in Short Time Frame and Breakout the Lower Trend Line. It has Completed the Break of Structure and it will Completed its retracement Previous Support or Fibonacci - 78.60%
Entry Precautions :
Wait until it Rejects Bullish Trend with Strong Bearish Price Action
Gold today: Continue to increase pricesHello dear friends, do you think gold will increase or decrease today?
Gold is currently holding well at its recovery level since it last dropped to a low price of $1810. It is currently trading steadily at $1860 - $1861.
On the 4-hour chart, we can observe that after the Bollinger Band narrowed at $1822, it has expanded and the upward trend has been established as predicted by Karina earlier.
Currently, the Bollinger Band is still maintaining a good expanding trend. With important news being received in the market today, personally, I predict that gold will experience a slight correction down to $1840 (which coincides with the Bollinger Band's support line) before using it as a support level to continue its upward movement. Additionally, Karina still holds a high evaluation for a recovery price target of $1900 at the moment.
GOLD (XAUUSD): Important Key Levels Ahead of FOMC 🥇
Traders, do not forget that today we are expecting FOMC.
Here is my latest structure analysis for Gold.
Support 1: 1804 - 1811 area
Resistance 1: 1884 - 1890 area
Resistance 2: 1901 - 1908 area
Resistance 3: 1942 - 1952 area
The market will most likely keep growing before the news.
Then everything will depend on the FED.
Consider the following structures for pullback / breakout trading.
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Positive signals appeared causing gold to recover as Middle EastThe current spot price for gold on the global market is approximately $1,856 per ounce. The price of gold delivered at Comex New York in December was $1,872/oz. Gold prices rose after Israel refused to make peace with Hamas. Both Israel and Hamas appear determined to continue their attacks. Talks have begun between the EU, the US, the United Arab Emirates, Saudi Arabia, Jordan and Qatar, but it is seen as too early to reach an agreement. After Israel declared war, the price of gold rose as the price of crude oil, which is closely related to gold, rose.
gold price prediction
Experts at Leader Capital Markets told Reuters the dispute is likely to be long and severe.
ANZ Bank experts expect oil prices to continue rising in the near future. The recent rise in oil prices is also due to a decline in supply due to reduced production in OPEC+ countries. Iran's export cuts could cause supply bottlenecks in the fourth quarter. When the world is unstable, gold is often seen as protection from the storm. The ongoing conflict between Israel and Hamas is likely to prompt a shift towards safe-haven investments such as gold and the US dollar.
Currently, many organizations do not provide gold price forecasts. Much is said to depend on how long the conflict lasts and how tense the situation becomes.
XAUUSD- Gold prices climbed high, oil and USD went downWorld gold prices this morning were stable with spot gold down 1.1 USD to 1859.8 USD/ounce. December gold futures last traded at 1,873.8 USD/ounce, up 9.5 USD compared to yesterday morning.
Although the Israel-Hamas conflict has not subsided, it continues to promote safe-haven buying activities in the gold market. However, that momentum failed to help the precious metal hold on to its previous gains due to the rise in bond yields.
Although gold is not shining, market analyst Fawad Razaqzada at City Index believes that this precious metal will still find strength in a risk environment. Besides, the fact that the USD did not find motivation after Friday's stronger-than-expected employment report has made many investors think about the possibility that the greenback has peaked and that is a good sign for the market. golden school.
This expert said that spot gold continued to hold above 1,857 USD/ounce on Tuesday afternoon (US time) and that was the first important short-term resistance level. While a slight pullback from this level is understandable, the reality is that support in the long-term area around $1,805 to $1,820 an ounce was in place last week, before the risks flared. political geography. This expert said that is a good sign for gold.
Update the latest gold priceHello dear friends! Today, gold continues to maintain its strong upward trend. Currently, gold has increased by 0.12% in the day and is trading at $1863, an increase of approximately $22 compared to the same time yesterday.
On the analysis chart, the two EMA lines, 34 and 89, are gradually converging, indicating that gold may experience a slight decline towards the support level of $1845 before the next trend becomes clearer. However, Karina still holds the opinion that gold still has the opportunity to rebound and potentially reach the $1900 mark in the future.
What about you? Do you share the same viewpoint? Leave a comment and let Karina know!
Gold formed a narrowed tail flag model: What will happen?Hello intelligent and wealthy traders
Currently, on the 1-hour timeframe, gold has increased and formed a flag pattern with a break to the down, resulting in a drop in the price of the DOW. The price may return to the support level of 1835 once again before the uptrend continues.
In general, today gold has experienced a strong breakthrough, continuously raising its price with the current market price at 1850 USD, an increase of 18 USD for the day.
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Comments on gold price next week: Returning price again?Hello smart traders!
In today's analysis with excellent insights from Trading View, we can observe that gold is currently moving steadily within the body of the Bollinger Band with an expanding trend. Additionally, the Fibonacci measurement indicates an upward trend with price levels targeting 1839 USD and subsequently 1862 USD.
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XAUUSD - It's time to reverseDear esteemed traders, I am Karina, thrilled to accompany you on the Trading View market. Let's exchange ideas and discuss today's topic together!
With the fantastic tools on Trading View, we are currently witnessing a narrowing of the Bollinger Band range, indicating potential significant market volatility in our XAUUSD market. After experiencing a decline in recent days, it seems that this week may bring a return to weakness in gold prices, as seen over the past two days. This presents an opportunity for us to establish a Buy position with support at 1805 and utilize Fibonacci measurements, which could reach up to 1865 USD.
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Update gold price on weekends, the price increases again.Dear esteemed traders, as predicted by Karina yesterday, the price of gold has indeed experienced an upward trend and has now paused its trading session at a closing price of $1,832. This marks the highest price increase in the past week.
Based on technical analysis, after the Bollinger Bands tightened, they are now showing signs of expansion, which is considered a positive indication for price growth as the metal approaches the upper limit of the Bollinger Bands.
According to Karina's perspective and forecast, the price may recover around $1,838, and it could potentially reach as high as $1,845. And you, what are your thoughts?
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Gold recovered strongly during the weekHello smart traders!
Currently, in the market, gold has started the trading session with a strong recovery, reaching up to $1851, in line with Karina's forecast yesterday.
Currently, on the chart, after the Bollinger Bands tightened, they have expanded, indicating the potential for significant market volatility in the near future. Additionally, breaking above the upper limit of gold suggests that the upward trend is being prioritized, with the possibility of a slight decrease followed by a recovery to the nearest resistance level set at $1875, as shown in the analysis chart.
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Gold - Strong explosionHello wealthy and intelligent friends!
Today, gold is showing clear signs of recovery, with prices fluctuating around $1,851 per ounce and not experiencing much change compared to the morning trading session.
After witnessing continuous price declines for several days, it seems that gold has regained its prospects for an increase in value. By using the Fibonacci tool, a perfect recovery level can be reached at $1,870 and even higher at $1,885 per ounce.
This week, we will have news about the USD on Wednesday and Thursday, so it is likely that after gold rises to the indicator level, this precious metal will undergo another test of decline before the direction of gold becomes clear.
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