XAUUSD: Analysis and Strategy for Tuesday 4/6Technical analysis of gold
Daily resistance 2370, support below 2327-2300
Four-hour resistance 2370, support below 2327-2300
✅Gold operation suggestions: Yesterday, the technical aspect of gold fell first and then rose to usher in a deep V rebound. The price of Asian and European sessions was under pressure from the 2330 mark and fell back and bottomed out. Then the European session pierced the 2315 line downward and stabilized and rebounded. Finally, with the help of the PMI news release, the gold price rebounded and broke through the 2350 line in the US session, and the overall price broke through the 2315 mark during the day and ushered in a bottoming rebound. The daily level continued the sideways fluctuation rhythm.
From the current trend, today's lower support focuses on 2330-2327. Today's retracement can rely on this position to see a rebound and rebound. The upper pressure focuses on the 2350-55 area, focusing on the 2370 line suppression. Overall, rely on this range to sell high and buy low.
SELL:2370 near SL:2373
SELL:2360 near SL:2364
BUY:2330 near SL:2327
Technical analysis only provides trading direction!
Goldintraday
Gold prices turned on a downward trendGOLD SELL
2340 - TP 2300 - SL 2352
Gold rate nowadays is buying and selling at 2,327 USD/ounce, a pointy lower of 23 USD in comparison to the rate on the equal time the day before today which changed into 2,350 USD/ounce.
The gold marketplace fluctuates withinside the context that the Organization of Petroleum Exporting Countries (OPEC) has simply agreed to increase manufacturing cuts.
The above facts makes traders fear approximately slowing international monetary growth. This induced them to promote off crude oil. As a result, oil fees dropped to seventy three USD/barrel - the bottom rate withinside the beyond four months.
Analysts say that if oil fees maintain to decline, different items could have problem growing in rate, inclusive of gold.
Another improvement is that US shares rose ultimate night, stimulating many human beings to place capital into shares. So cash flowing into metals is limited. Today`s global gold rate clearly decreased.
GOLD - continuous signs of deep declineGold rate forecast
It may be visible that withinside the medium and lengthy term, the USD is beneathneath stress to lower in rate following the loosening of US economic policy. Gold rate will thereby be supported.
However, it's far possibly that it's going to take till September or November for americaA to reduce hobby fees. Many different primary banks which include Europe`s ECB or Britain's BOE might also additionally reduce hobby fees sooner. This additionally manner that, withinside the brief term, the USD might also additionally nonetheless boom.
When the USD actions up, it will likely be tough for valuable steel merchandise to boom in rate, or maybe lower because of a extended boom from the stop of 2023 till now.
If payroll statistics exceeds 200,000, gold charges should slide in addition or even smash the $2,320 aid level, stated Kelvin Wong, Asia-Pacific senior marketplace analyst at OANDA. .
In the medium and lengthy term, the USD is beneathneath stress to lower in rate following the loosening of US economic policy. Gold rate will thereby be supported.
However, it's far possibly that it's going to take till September or November for americaA to reduce hobby fees. Many different primary banks which include Europe's ECB or Britain's BOE might also additionally reduce hobby fees sooner. This additionally manner that, withinside the brief term, the USD might also additionally nonetheless boom.
When the USD actions up, so does the commodity
GOLD - turns up stronglyGold charge forecast
World gold charges multiplied sharply withinside the context of the USD index falling. Recorded at 6:00 a.m. on June 4, the United States Dollar Index measuring the fluctuation of the dollar with 6 principal currencies turned into at 104,575 points (down 0.46%).
Last weekend, the United States Department of Commerce introduced facts displaying that the private intake expenditures (PCE) charge index multiplied through 0.3% in May 2024, identical to the unadjusted growth in March.
At the start of today`s buying and selling session, the gold marketplace soared, maintaining the promoting growth round the edge of 2,350 USD/ounce, because the US production zone misplaced momentum.
Gold's robust upward thrust turned into because of the Institute for Supply Management (ISM) pronouncing on Monday that its production index fell to 48.7% in May, as compared to 49.2% in April. Data The facts is weaker than anticipated as consensus forecasts name for a moderate development to 49.8.
The gold marketplace awaits the choice of the United States Federal Reserve (FED). Price cuts through principal US stores and new facts displaying slowing customer spending may want to raise the Fed's self assurance that inflation is falling.
Traders presently see a 54% danger of the FED reducing hobby charges in September 2024. Gold is taken into consideration an inflation hedge, however growing hobby charges growth the possibility fee of keeping non-yielding belongings like gold.
World gold prices revived and increased slightly At the start of the buying and selling consultation on June 3 (US time), global gold costs revived and multiplied barely withinside the context that buyers nonetheless count on that US inflation is at the decline, with a purpose to encourage the United States Federal Reserve ( Fed) will quickly reduce hobby rates.
In addition, gold costs also are being supported via way of means of a mild lower withinside the USD. At the identical time, Nymex crude oil costs are almost solid and buying and selling round 76.seventy five USD/barrel.
As expected via way of means of analysts, gold costs have recovered after plummeting ultimate week. Sean Lusk, co-head of business hedging at Walsh Trading, stated that gold nonetheless continues its upward momentum so it'll quickly growth in rate again.
Sharing the identical opinion as Sean Lusk, Adrian Day - Chairman of Adrian Day Asset Management - stated that withinside the context of US inflation being at the decline, there may be no motive for gold costs to lower whilst the Fed will base on that to quickly boost costs. set a particular cut-off date for hobby charge cuts.
In an evaluation on CBS News, specialists stated that the pointy drop in gold costs is handiest temporary, however the long-time period fashion continues to be at the rise. Experts suggest that buyers ought to speedy purchase gold in the course of low costs.
Gold rate forecast
Kitco senior analyst Jim Wyckoff stated that gold costs will get better withinside the following couple of sessions.
In Kitco News` weekly gold survey, with the participation of Wall Street specialists and retail traders, the bulk of specialists and buyers nonetheless count on an upward fashion withinside the rate of the treasured metal.
Many analysts are expecting that, in advance of the Fed's financial coverage assembly on June 11-12, many buyers will growth buying, inflicting gold costs to growth sharply earlier than the assembly.
XAUUSD: 3/6 Analysis and StrategyGold technical analysis
Daily resistance 2370, support below 2330-2300
Four-hour resistance 2343, support below 2330-2300.
✅Gold operation suggestions: Last Friday, the overall gold price rose first and then fell, and then fell back and fluctuated downward. The overall price showed a strong suppression pattern above 2350. The overall technical indicators in the short cycle showed a short arrangement and divergence downward. At present, a new resistance suppression area has formed above 2360. In the short term, the gold price is expected to fall further. From the current trend, today's upper resistance focuses on the top and bottom conversion position of the hourly line last Thursday, 2341-43. Strong resistance and suppression focus on the 2350 mark. The intraday rebound relies on this position to continue to be short and follow the trend to fall. The lower target continues to focus on breaking the bottom. The short-term long and short strength watershed focuses on the 2360 mark. Before the daily level breaks through and stands firm at this position, the shorts are still strong.
SELL:2360 near SL:2373
SELL:2350 near SL:2354
SELL:2330 near SL:2333
Technical analysis only provides trading direction!
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GOLD - Important nonfarm news that has an impact?Like final night, I additionally commented and shared pretty truly approximately this week`s Gold Trend.
>At this rate, I will watch to promote Gold in line with the MA newspaper's Trend and could await Nonfarm information this weekend. With the cutting-edge Gold price, you may talk over with the Gold Sell Watch on Zone 2338>234x
And Canh Buy is withinside the Canh Buy resistance quarter 2322>2325
SL 2320
TP 2333>234x
If Gold Pha can byskip thru 2320, anyone will Sell to the response of Zone 2310>2300 in line with the vintage resistance line.
XAUUSD Top-down analysisHello traders, this is a complete multiple timeframe analysis of this pair. We see could find significant trading opportunities as per analysis upon price action confirmation we may take this trade. Smash the like button if you find value in this analysis and drop a comment if you have any questions or let me know which pair to cover in my next analysis.
XAUUSD: 30/5 Analysis and Strategy TodayGold technical analysis
Daily resistance 2370, support below 2300
Four-hour resistance 2343, support below 2300
Gold operation suggestions: Yesterday, gold technically came under pressure at the 2363 mark in the Asian and European sessions, and fell back and bottomed out. It showed a unilateral short-selling decline throughout the day. The weak rebound in the US session came under pressure at the 2347 mark and fell again. The overall price ushered in short-selling pressure adjustment at the 2360 mark, and the short-term technical indicators still showed a weak short position. From today's perspective, there is still an expectation of further downward decline in gold.
The upper resistance of the intraday rebound focuses on the opening of the US hourly line yesterday, 2347-2350. The intraday rebound relies on this position to continue the main short and follow the trend to look down. The short-term long and short strength watershed focuses on the 2370 mark. Before the daily level breaks through and stands on the 2370 line, any rebound is a short-selling opportunity, and the main tone of participating in the trend is maintained.
SELL:2370 near
SELL:2360 near
SELL:2347 near
BUY:2303 near
Technical analysis only provides trading direction!
Gold price moves sideways before the falling thresholdWorld gold fees inched up barely once more in today`s buying and selling session. Macquarie commodity strategists stated in a file that at the same time as expectancies for hobby price cuts have lately dwindled amid consistently excessive inflation, gold fees retain to expose power because of diverse underlying effective factors.
The studies corporation determined that gold fees have hit new highs, pushed with the aid of using drivers aside from US hobby prices and the dollar. The yellow metallic has benefited from a broader threat-on sentiment in metals markets.
Gold fees have outperformed throughout diverse asset training and on the macroeconomic level. It implicitly trades on its recognition as a secure asset with out a counterparty threat, instead of the possibility prices related to maintaining a zero-yielding asset.
Furthermore, gold fees were supported with the aid of using threat assets. Macquarie highlighted that crucial financial institution gold purchases are nonetheless monitoring above pronounced levels, suggesting institutional hobby withinside the valuable metallic stays sustained.
The gold derivatives marketplace is right here to stay, in particular while measured in notional quantities in US greenbacks instead of in lots. However, the marketplace role is stated to have end up much less worrying after current rate adjustments.
Trading volumes at the Shanghai Futures Exchange (SHFE) have stabilized after a giant boom in April, however spreads in China stay excessive, suggesting persevered hobby and pastime withinside the gold marketplace from Chinese traders.
Gold fees' resilience, notwithstanding a more potent Dollar supported with the aid of using variations in relative US financial policy, indicates buyers are searching past the United States hobby price marketplace in relation to to gold.
Gold continues to sell accurately. The target is 2300 or lower
Gold continues to create new lows this week. At present, many people may think that the market will rebound sharply again. I think it is difficult. Because there is no important news to drive the gold price up sharply. And the market is still in a downtrend. The trend is a sharp rise before the technical repair.
In the short term, it is expected to fall below 2,300 points. Everyone should be mentally prepared.
COMEX:GC1! OANDA:XAUUSD TVC:GOLD
The current price can still continue to sell. The upper pressure is at 2345-2351
XAUUSD: 29/5 Analysis and StrategyGold technical analysis
Daily resistance 2370, support below 2327
Four-hour resistance 2370, support below 2343
Gold operation suggestions: After testing the 2340 support yesterday, it stabilized and rose to a high of 2364, and finally closed at a high level, rebounding for three consecutive trading days after the plunge.
From the current trend, today's short-term pressure focuses on 2370. Today, we will rely on this position to go short first. The short-term support below focuses on the vicinity of 2343. If we step back and stabilize this position during the day, we can go long once, and then look at the shock recovery. The overall support during the day is to participate in the high-altitude and low-multiple cycles in the 2343-2370 area, and look at the rhythm of alternating long and short shocks, and wait patiently for key points to enter the market.
SELL: near 2370
BUY: near 2343
Technical analysis only provides trading direction!
The amount of selling pressure strongly affects the trend of golGOLD- 10:30 May 30, 2024
Dear traders! Gold skilled vast volatility the day before today because it slid sharply above the $2,347 guide degree and reached the $2,334 mark consistent with a conventional bearish flag structure. At the time of writing, the rate is aiming to check the $2,325 mark amid a correction and sell-off supported through a more impregnable US Dollar and better US bond yields. Diminishing expectancies of a Federal Reserve hobby price reduce in September have induced a few promoting strain at the valuable steel because it will growth the possibility price of gold.
Accordingly, the resistance place at 2347 USD keeps to maintain the rate and is actively covered through dealers on a down wave basis. I assume a take a look at of horizontal guide and a rebound to retest the 34.89 EMA, the rate response to the liquidity sector might be consistent with our promoting strategy. It is predicted that the rate will attain as a minimum 2325 and 2307.
A real-time operation of gold price before closing
Trading plan: Steady traders can wait until the market drops to around 2325 to buy directly. The target is 2341 or even higher. Aggressive friends can buy directly near 2332. The target is even higher near 2347.
TVC:GOLD OANDA:XAUUSD COMEX:GC1!
Trading plan: Steady traders can wait until the market drops to around 2325 to buy directly. The target is 2341 or even higher. Aggressive friends can buy directly near 2332. The target is even higher near 2347.
GOLD - Many factors will be surprisingGOLD PRICE ANALYSIS - May 29, 2024
SCALP--Sell gold across the fee variety of 236x
Yesterday the fee did now no longer attain the anticipated degree as a way to promote. During the day, the fluctuations had been pretty gentle.
However, it could additionally be visible that the fee restoration has regularly exhausted itself, with the fashion of traders trying to promote extra and extra.
Traders nowadays can prioritize locating Sell points.
--
Gold costs fluctuated these days as buyers waited for americaA to launch inflation statistics withinside the following few days to are expecting while to reduce hobby rates.
The data which can marvel the gold marketplace withinside the following few days is americaA center private intake fees index (PCE) - an critical inflation degree of americaA Federal Reserve (FED).
Meanwhile, a few FED officers agree with that americaA financial system nonetheless has the cappotential to get better significantly. They need to peer extra nice inflation statistics earlier than reducing hobby rates.
In reaction to the above data, the USD has reduced in rate as compared to many different robust currencies. Today`s global gold rate has situations to consolidate its upward momentum.
XAUUSD:28/5 Today’s Analysis and StrategyGold technical analysis
Daily resistance is 2370, support below is 2327
Four-hour resistance is 2370, support below is 2327
Gold operation advice: Yesterday, the overall price of gold stabilized above 2330 in the short term. However, the current hourly line and 4-hour chart are still in the downward rhythm of short pressure. The 4-hour level still sees a suppressed and volatile operating rhythm until it reaches the 2400-point integer mark.
Judging from the current trend, today's short-term pressure will focus on 2370. During the day, counterattacks will rely on this position to be bearish. The short-term support below will focus on around 2340. Today, the overall focus will be on selling high and buying low in the 2340-2370 area, and trade cautiously in the middle position.
SELL:2370near
SELL:2360near
BUY: 2340near
Technical analysis only provides trading direction!
GOLD - gold price cannot cool down yetForecast
Lukman Otunuga, leader marketplace analyst at FXTM, predicts that with buyers presently having a bet on simply one Fed price reduce in 2024, the marketplace can be tilting in a bearish direction.
Lukman Otunuga stated that if the May PCE file is launched better than marketplace forecasts, this will deal every other blow to expectancies of Fed hobby price easing, inflicting gold expenses to fall even deeper.
But analysts expect that traders are nevertheless having a bet on gold expenses to boom withinside the close to future. Forecasts say that with the aid of using the give up of the week, gold rate will boom to 2,375 USD/ounce./.
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GOLD increases - geopolitical tensions and FED interest ratesAccording to analysts, the USD weakens best withinside the brief term. More importantly at the prevailing time, the gold marketplace is popping its eyes to the May US non-public intake expenditure index (PCE) record to be posted on June 1.
Most professionals accept as true with that this index will boom greater than formerly forecast, making the time to reduce hobby quotes via way of means of the United States Federal Reserve (Fed) more and more more distant.
Therefore, CEO Marc Chandler of Bannockburn Global the Forex market found out that valuable metals have become very unstable for owners, inflicting traders to more and more more depart and now not be interested by the gold marketplace. .
In addition, the lower in gold call for from Chinese traders and the easing of the effect of geopolitical dangers after the helicopter crash that killed the Iranian President also are damaging factors. for valuable metals.
Gold charge forecast
Lukman Otunuga, leader marketplace analyst at FXTM, predicts that with buyers presently making a bet on simply one Fed price reduce in 2024, the marketplace can be tilting in a bearish direction.
Lukman Otunuga stated that if the May PCE record is launched better than marketplace forecasts, this will deal some other blow to expectancies of Fed hobby price easing, inflicting gold costs to fall even deeper.
But analysts expect that traders are nevertheless making a bet on gold costs to boom withinside the close to future. Forecasts say that via way of means of the cease of the week, gold charge will boom to 2,375 USD/ounce.
XAUUSD: 22/5 Today’s Analysis and StrategyGold technical analysis
Daily resistance is 2450-2500, support below is 2411-2371
Four-hour resistance is 2435-2450, support below is 2411-00
Gold operation suggestions: Yesterday, the technical aspect of gold fell rapidly in the Asian market and pierced the 2406 mark, ushering in a stabilizing recovery. In the afternoon, the gold price stepped back down for the second time and stabilized at the 2408 mark, ushering in a bull shock recovery. NY time quickly surged above 2433 and fell back under pressure. After testing the effectiveness of the support around the 2406 mark, the overall price ushered in a rebound and repair market that bottomed out. However, the top still suppressed the operation in the 2435-2440 area.
Judging from the current trend, the lower support focuses on yesterday's low of 2406-2408, the upper short-term pressure focuses on 2430-2435, and the focus is on the suppression of 2450. Let's first see that gold maintains a wide range of long and short fluctuations in this range. In the middle position, watch more and move less. , trade cautiously and wait patiently for key points to enter the market.
BUY:2411 near SL:2406
BUY:2400 near SL:2397
BUY:2435 near SL:2430
Technical analysis only provides trading direction!
Gold price trend analysis and plan on the 13th
There wasn't a lot of good news over the weekend that prompted gold to rise sharply this week. On the contrary, gold continued to fall on Monday because of gold's surge. Perhaps this is good news for bears. The trend of the chart then saw a sharp correction due to the digestion of the news, and the current position is oscillating around 2343. Put aside the impact of news. The current support of the trend is also located near here. I personally think that 2330-2335 is a suitable buying range. Pay attention to controlling risks during operation.