GOLD Local Short!GOLD has hit a horizontal
Resistance level of 2527.38$
And we are already seeing a
Bearish reaction so we will
Be expecting a further
Bearish correction !
Goldprice
Analysis of 9.11 Gold Short-term Operation StrategyOn Tuesday, the US dollar index fluctuated above the 101 mark and finally closed up 0.03% at 101.67. US Treasury yields continued to fall, with the benchmark 10-year Treasury yield closing at 3.650%; the two-year Treasury yield, which is more sensitive to monetary policy, finally closed at 3.607%. The Dow Jones Industrial Average closed down 0.23%, the S&P 500 rose 0.45%, and the Nasdaq rose 0.84%. Major European stock indices closed down across the board, with the German DAX30 index closing down 0.96%; the British FTSE 100 index closed down 0.78%; and the European Stoxx 50 index closed down 0.66%.
Risk Warning on Wednesday
☆At 14:00, the UK will release the monthly GDP rate for the three months of July, the monthly rate of manufacturing output in July, the seasonally adjusted commodity trade account in July, and the monthly rate of industrial output in July;
☆At 20:30 Beijing time, the United States will release the August CPI data. The market expects its annual rate to fall from the previous value of 2.9% to 2.6%, and the monthly rate will remain unchanged at 0.2%; in terms of core CPI, the market expects the annual rate to be 3.2% and the monthly rate to be 0.2%, both consistent with the previous value;
☆At 22:30, the United States will release the EIA crude oil inventory for the week ending September 6, and the market expects an increase of 764,000 barrels of crude oil;
☆At 1:00 the next day, the United States will hold a 10-year Treasury auction until September 11.
The US CPI in August will rise by 0.2% month-on-month and 2.6% year-on-year, lower than 2.9% in July. If confirmed, this data is likely to strengthen market expectations that the Fed will cut interest rates by 25 basis points at its September 17-18 meeting.
The probability of a 25 basis point rate cut by the Fed at next week's meeting is 67%, and the probability of a 50 basis point rate cut is 33%. Although market expectations for rate cuts are divided, overall, investors generally believe that the Fed will make at least one super-large rate cut this year.
Traders in the U.S. interest rate options market are still betting that the Fed will make at least one super-large rate cut this year, although it may not be before the presidential election on November 5. Recent options activity related to the secured overnight financing rate shows that traders are increasingly positioning for a 150 basis point rate cut by the Fed before the January 29 policy decision.
Geopolitical factors have also had an important impact on the gold market. Recently, Ukraine launched drone attacks on several regions of Russia, and the Russian Federal Investigative Committee has initiated a criminal case. The escalation of this situation may lead to increased market concerns about the global economy, thereby driving demand for safe-haven assets such as gold.
In addition, tensions between Israel and Hamas continue to develop. Israel proposed that Hamas leader Yahya Sinwar leave Gaza safely in exchange for the organization releasing hostages. This change in the situation may have an impact on the stability of the Middle East, thereby causing fluctuations in global market sentiment.
Gold prices continued to rise on Tuesday, rising for two consecutive trading days. Currently, U.S. Treasury yields continue to weaken, hitting a 15-month low, providing momentum for gold prices to rise; the geopolitical situation remains tense, which also attracts safe-haven buying to support gold prices. Today's short-term focus is on the support area of the 1-hour rising trend line below, and go long on gold after the correction stabilizes. At the same time, investors need to pay close attention to the impact of the upcoming CPI data on the trend of gold.
GOLD Buy Off S&R Trade ManagementI moved my Stop Loss to breakeven, so I am running risk-free on this trade, with commission and spreads fee factored into the stop loss placement.
Analysis of 9.11 Gold Short-term Operation StrategyCPI is coming, gold will break today
In the early Asian session on Wednesday (September 11), spot gold fluctuated in a narrow range and is currently trading around $2517.96/ounce, maintaining overnight gains. Gold prices continued to rise on Tuesday, closing at $2516.53/ounce, up about 0.42%, rising for two consecutive trading days. U.S. Treasury yields continued to weaken, hitting a 15-month low, providing momentum for gold prices to rise; the geopolitical situation remains tense, which also attracts safe-haven buying to support gold prices.
At present, market participants are preparing for the release of U.S. inflation data to find further clues to the extent of the Fed's interest rate cut next week.
Gold is still within the range we talked about yesterday. Short-term indicators are basically flat. In the short term, there is still no significant change. It is expected that the evening CPI data will be needed to break the range. The current range has been compressed to run in the small range of 2500-2520, and the space is getting smaller and smaller. In fact, the smaller the space fluctuation, the closer the time to open the situation later.
From the 4-hour chart, the gold price is in a high-level box oscillation. I prefer a downward breakthrough in the general direction. At present, gold has reached the top of the mountain. Going long is equivalent to chasing at the top of the mountain. The profit and risk are not proportional. Focus on the support position of 2500-2498 during the day. Yesterday, the lowest retracement reached 2499, so this can be used as the dividing point for today.
Detailed intraday operation strategy:
Short gold rebounds at 2525, defend at 2533, target 2515-2500
Go long gold at 2480, defend at 2472, target 2490-2500
Gold price continues sideways waiting for tomorrow's CPI⭐️ Smart investment, Strong finance
⭐️ GOLDEN INFORMATION:
Gold prices (XAU/USD) struggled to build on Monday's gains and edged lower during Tuesday's Asian session, weighed down by continued US Dollar strength. After Friday's mixed jobs report, investors reduced expectations of a larger Fed rate cut in September, boosting the USD and pressuring gold.
Additionally, a positive sentiment in equity markets further dampened demand for the safe-haven metal. XAU/USD remains within a multi-week trading range as investors await more clarity on the Fed’s rate decision. Focus now shifts to US inflation data due Wednesday, with the potential rate-cut prospects limiting aggressive bearish positions on gold.
⭐️ Personal comments NOVA:
There was no important news on Tuesday, Gold prices continued sideways in the price range of 2480-2520 waiting for important data of the week: CPI, PPI,...
⭐️ SET UP GOLD PRICE:
🔥BUY GOLD zone: $2486 - $2484 SL $2479
TP1: $2495
TP2: $2505
TP3: $2520
🔥SELL GOLD zone: $2519 - $2521 SL $2526
TP1: $2510
TP2: $2500
TP3: $2490
⭐️ Technical analysis:
Based on technical indicators EMA 34, EMA89 and support resistance areas to set up a reasonable SELL order.
⭐️ NOTE:
Note: Nova wishes traders to manage their capital well
- take the number of lots that match your capital
- Takeprofit equal to 4-6% of capital account
- Stoplose equal to 2-3% of capital account
- The winner is the one who sticks with the market the longest
Analysis of 9.11 Gold Short-term Operation StrategyGold, if it rebounds to 2520, go short directly. Don't wait until you see a decline before chasing it. It is easy to be buried at the low point. The top and bottom conversion pressure is at 2500-2505 US dollars.
The continuity of the short position is as bad as ever. It took less than two hours to end the battle from 2500 US dollars to 2485 US dollars yesterday.
After that, all rebounds are to lure shorts. As long as there is no participation in shorts in the Asian session, there will be no chance in the European and American sessions. It finally rose to 2507 US dollars, an increase of 20 US dollars.
Every decline that seems to be unfavorable factors quickly recovered the lost ground, including the panic selling on Tuesday last month after the non-agricultural data.
Gold is brewing a huge market. The volatility in the past few days is just confusing behavior. It won't be long before the unilateral market will come, especially the Federal Reserve's interest rate decision on September 19 and the US CPI inflation data for August on Wednesday.
The Federal Reserve is now in a "silent period". Behind the seemingly calm, as long as someone shouts: Fire. Then the whole market sentiment will be ignited instantly. Don't be too attached to the current range-oscillating market. Generally, it's good to hold 15-20 US dollars.
Now, the gold price is in a high-level box oscillation. I prefer an upward breakthrough in the general direction. The position of 2530 US dollars is not the top. Once it is broken, it will go straight to 2600 US dollars. However, the ideal position to participate is the area close to the lower track of 2480 oscillation, rather than chasing on the top of the mountain.
Today's focus is the annual rate of the US unadjusted CPI in August and the US EIA crude oil inventory for the week ending September 6.
Today, first pay attention to the support position of 2500-2498. Last night, the US market tested the support of 2493, so this can be used as the dividing point for today's day, and then participate in the short-term rebound upward and pay attention to 2515-2518,
GOLD is going to start getting much cheaper in SILVER terms.Gold has been on an absolute tear lately as the de facto U.S. corporate government has been printing and spending FRNs (Federal Reserve Notes) into oblivion. As a result, real money is gaining value against the Federal Reserve's monopoly money. Naturally, those who saw the money devaluation coming have been buying gold to preserve their purchasing power, but silver has been lagging behind, even though it has also been appreciating. Although the price of precious metals is, and will continue to be, on the rise, the price of gold is about to get much cheaper in terms of silver. Instead of buying gold, I believe the best move right now is to buy silver, hold it, and once the exchange rate drops to the 35/45 to 1 area, then exchange your silver for gold.
I believe that in the next year to a year and a half, we will see the price of gold cut in half in silver terms, which means it will take half the silver to buy the same amount of gold, effectively doubling the purchasing power of silver versus gold.
Good luck!
Gold Short – Targeting Downside After Resistance Rejection Gold (XAU/USD) is currently facing resistance around the 2,518 area, where it has shown signs of rejection. This presents a potential short opportunity, aiming to capture downside movement as the price pulls back from this level.
Technical Analysis:
• Resistance Rejection: The price has tested and rejected the resistance level, indicating a potential reversal or pullback.
• Downside Target: The initial target for this short setup is around the 2,500 level, where support may come into play.
• Risk Management: Place a stop-loss above the recent high around 2,520 to protect against any further bullish breakout.
Market Sentiment:
• Bearish Bias: The rejection at resistance suggests that sellers are stepping in, increasing the likelihood of a downward move.
• Key Levels: Watch for any break below 2,510, which could accelerate the move towards the target zone.
This trade setup leverages the current rejection at resistance, aiming to capitalize on a potential pullback. As always, manage risk carefully and be prepared to adjust the strategy based on how the market evolves.
Note: Please remember to adjust this trade idea according to your individual trading conditions, including position size, broker-specific price variations, and any relevant external factors. Every trader’s situation is unique, so it’s crucial to tailor your approach to your own risk tolerance and market environment.
9.10 Analysis of gold short-term operation strategiesIsrael airstrikes Syria, gold price regains 2500 mark: gold price may consolidate in the short term
On Monday (September 9), spot gold rebounded sharply after falling to $2485/oz, and finally closed above 2500, closing at $2506.04/oz. ,, Gold prices soared above $2500/oz on Monday as traders prepared for the release of the US August inflation report and looked for hints that the Federal Reserve would cut interest rates by 50 or 25 basis points. Gold traders ignored the overall strength of the US dollar. The US dollar index, which measures the performance of the US dollar against six currencies, rose by more than 0.30%.
The probability of a 25 basis point rate cut by the Federal Reserve in September is 73%, while the probability of a 50 basis point cut is 27%.
At the end of the Asian market on Monday, spot gold fell to $2485.48/oz, hitting an intraday low. Gold prices then continued to rebound. As of the close of Monday, spot gold climbed $8.84, or 0.35%, to $2,506.09 per ounce.
The situation in the Middle East remains tense, which provides momentum for gold prices to rebound.
Israel's air strikes on central Syria on September 8 local time killed at least 14 people. The Iranian Foreign Ministry spoke out on September 9 local time, condemning the Israeli army for launching a "criminal attack" and calling on Israel's supporters to stop arming it.
According to the Israeli Times, citing Syrian media reports, Israel launched a series of attacks on several areas in central Syria on the night of August 8 local time, killing at least 14 people and injuring 43 people
This may become a trigger for the gold trend!
How to trade gold?
Gold prices resumed their upward trend and broke through $2,500 per ounce, but gold prices are still below $2,510 per ounce, and buyers seem to have failed to accumulate momentum.
Momentum remains bullish, but gold may consolidate in the short term before resuming its upward trend or turning downward. The relative strength index (RSI) is almost flat, indicating that neither buyers nor sellers are in control of the situation.
If gold climbs above its year-to-date high of $2,531/oz, it could push it to challenge $2,550/oz. If it breaks through the latter, the next target will be the psychological level of $2,600/oz.
If gold falls below $2,500/oz, the next support level will be the August 22 low of $2,470/oz.
If gold falls below $2,470/oz, the next support area will be the confluence of the May 20 high (which has turned into support) and the 50-day simple moving average (SMA), between $2,450-2,440/oz
Gold price analysis September 10Fundamental Analysis
Gold prices struggled to capitalize on yesterday’s rebound from the $2,485 support zone and attracted some selling on Tuesday. However, the commodity held above the psychological $2,500 mark during the early part of the European session as traders appeared reluctant to place directional bets ahead of this week’s US inflation figures. The key US Consumer Price Index (CPI) is scheduled for release on Wednesday, followed by the Producer Price Index (PPI) on Thursday. The data will influence market expectations on the size of the Federal Reserve’s interest rate cut later this month and provide fresh directional impetus to the non-yielding yellow metal.
Heading into the key data risk, the US Dollar (USD) edged closer to the monthly high reached last week amid bearish bets for a larger Fed rate cut in September. This, coupled with a solid performance in global equity markets, is seen undermining safe-haven Gold. Despite the decline, XAU/USD remains confined within a familiar range that has been maintained for about the past three weeks, indicating hesitation among traders about the short-term trajectory. This makes it more prudent to wait for a sharp sell-off to follow before positioning for the recent pullback from the vicinity of the all-time high tested after the release of the mixed US jobs report last Friday.
Technical Analysis
Gold is still approaching the key 2507 price zone. The European session is trying to push above this level to resume the uptrend. SELL signal in this area can be when the price pushes up in the middle of the European session and cannot break it, we SELL and hold until the US session. If the 2495 area is broken, we hold until the US session at the 2483 area. In case gold increases to 2507, we do not BUY and wait to SELL in the 2515-2517 area. The destination is the 2507-2505 area.
SELL 2516 - 2518. Stoploss 2522
BUY 2485 - 2483. Stoploss 2479
BUY 2473 - 2471. Stoploss 2467
GOLD Buy Off 2504 S&RLast week NFP pushed the price further down than I had expected. I had missed the initial push-up, and fortunately, I canceled my buy order and went on standby. But as with recent developments, the sell failed to go lower, even with volume, so I decided to do a second attempt at the buy, at my earlier price level.
9.10 Gold short-term operation strategyWhen will the range oscillation stop? Gold is still expected to fall back
At the beginning of the Asian session on Tuesday (September 10), spot gold fluctuated in a narrow range and is currently trading around $2506.22 per ounce. Gold prices rebounded slightly on Monday, rising above the 2500 mark and closing at 2506, with a small positive on the daily line. The rebound of US Treasury yields was blocked and hovered around the 15 lows, providing gold prices with a rebound opportunity, but the rebound of the US dollar index limited the rise in gold prices. Investors are waiting for the US inflation report to provide further clues to the possible scale of the Fed's interest rate cut.
The recent trend of gold is quite subtle. From mid-August to now, for almost a month, the price has been maintained in the large range of 2470-2530. It fell when it touched the top and rebounded when it touched the bottom. The range has never been broken. Last Friday's non-agricultural data only rebounded slightly and fell around 2530. The focus of this week is the CPI data on Wednesday, which is an important factor that may break the deadlock in the range. Therefore, the CPI data at the beginning of this week currently maintains the idea of range oscillation.
In the current volatile market, although there was a slight rebound yesterday, the rebound strength is limited. The focus of the day is the double top pressure level 2515 formed in the short term of the daily line. Today's short orders will be participated in this position, and the second is around 2530. When it reaches this position, it will be bold to participate. Focus on the support of 2480 below. If the pressure level of 2530 above has not been broken this week, the market may turn downward.
Tuesday Risk Warning
☆ Today, OPEC will release the monthly crude oil market report;
☆ At 14:00, Germany will release the final value of the August CPI monthly rate;
☆ At 14:00, the UK will release the three-month ILO unemployment rate in July, the unemployment rate in August and the number of unemployment benefit applicants in August;
☆ At 18:00, the United States will release the August NFIB Small Business Confidence Index;
☆ At 0:00 the next day, EIA will release the monthly short-term energy outlook report;
☆ At 4:30 the next day, the United States will release the API crude oil inventory for the week ending September 6.
Detailed intraday operation strategy:
Gold 2515SL, defense 2523, target 2500-2490
Gold 2480BY, defense 2472, target 2490-2500
9.10 Gold Short-term Technical AnalysisGold closed two cross-yin lines in a row on the weekly line. On Friday, it rose and fell, which highlighted the signal of strong short-term strength. Although the current gold price is still above the short-term moving average, and the short-term moving average also forms a short-term support in the 2490 area, the upward momentum is obviously beginning to show weakness. On the whole, the weekly line, the short-term still has an advantage in the short-term, and it is likely to continue to extend the low, and it is expected to reach the 2470 area again this week.
This week, we need to focus on the previous two double-needle bottoming positions around 2470. In terms of the closing of the weekly and daily lines, the downward trend is obvious, and it is expected to continue to bottom out. If the position cannot be supported, then the profit of gold shorts will definitely fall sharply. In terms of intraday operations, long orders are not considered for the time being. Short orders can be participated in the rebound near 2508
Detailed intraday operation strategy:
Short gold rebounds at 2508, defend 2515, target 2495-2480
Gold price continues to go sideways - adjusting downward⭐️ Smart investment, Strong finance
⭐️ GOLDEN INFORMATION:
Gold prices (XAU/USD) reversed course from near-record highs and dropped below the $2,500 level after Friday's US jobs report. The mixed data lowered expectations of a 50 basis point rate cut by the Fed, leading to some US Dollar recovery and putting pressure on gold.
However, fears of a US economic downturn and ongoing conflict between Israel and Hamas kept demand for safe-haven assets like gold steady. These factors, along with the potential start of the Fed’s rate-cutting cycle, caution against a bearish outlook for XAU/USD.
⭐️ Personal comments NOVA:
Gold price adjusts to a short-term decrease - creating more liquidity for the expectation of price increase to create a new ATH
⭐️ SET UP GOLD PRICE:
🔥BUY GOLD zone: $2472 - $2470 SL $2465
TP1: $2480
TP2: $2490
TP3: $2500
🔥SELL GOLD zone: $2505 - $2507 SL $2512
TP1: $2498
TP2: $2490
TP3: $2480
⭐️ Technical analysis:
Based on technical indicators EMA 34, EMA89 and support resistance areas to set up a reasonable SELL order.
⭐️ NOTE:
Note: Nova wishes traders to manage their capital well
- take the number of lots that match your capital
- Takeprofit equal to 4-6% of capital account
- Stoplose equal to 2-3% of capital account
- The winner is the one who sticks with the market the longest
Gold Futures analysis 2024/09/09
COMEX:GC1!
Notice: The points are only valid from 2024/09/09 to 2024/09/20
What we have now?
1. Current price: 2530
2.The key support and resistances level:
2570
2535
2485
2420
2310
Future Price movement
60% chance: The momentum today is still pretty strong, and I’m expecting a of another push towards the resistance level at 2570.
40% chance: Moving back to 2500, and start moving back from 2500 to 2485
Trade safe!
9.9 Gold Short-term AnalysisGold fell last week, then rebounded and fell again. It was in a range of fluctuations. The lowest point of the week was 2471, the highest point was 2529, and the weekly line closed at 2497. The weekly line showed a cross star. The gold price was still in a bullish channel. The daily line showed a large range of fluctuations. The non-agricultural data on Friday was bullish, but 2530 was still blocked and fell under pressure. It once fell to 2485. In summary, this week's focus is on the gains and losses of 2530. Although the general trend is bullish, if it does not break the high, it will continue to run in a large range. In the day, the four-hour line showed a large range of fluctuations. The hourly line rebounded in the short term. The upper side first looked at 2500, and if it broke, it looked at 2510. The intraday operation idea is to rebound and fluctuate.
This week's key data
Wednesday: US Consumer Price Index (CPI)
Thursday: ECB monetary policy decision, US PPI, US weekly unemployment claims
Friday: University of Michigan Consumer Confidence Index Preliminary Value
9.9 Gold short-term operation strategyIn the early Asian session on Monday (September 9), spot gold fluctuated in a narrow range and is currently trading around 2496. Gold prices rose and fell last Friday, as the number of new non-agricultural jobs fell short of expectations. Gold prices once hit a three-week high of around $2529.06 per ounce, approaching the historical high, but soon gave up the gains because the unemployment rate fell and the Fed's "number three" did not send a signal of a 50 basis point rate cut to the market, causing the market to doubt the extent of the Fed's rate cut later this month. Gold's performance last Friday sounded the alarm for the market, showing that the trend in the next few weeks will be full of variables. In this context, how to deal with potential volatility will become a key issue for gold traders.
Gold closed two consecutive cross-yin lines on the weekly line. On Friday, there was a wave of highs and falls, which highlighted the signal of strong short positions. Although the current gold price is still running above the short-term moving average, and the short-term moving average also forms a short-term support in the 2490 area, the upward momentum is obviously beginning to show weakness. On the whole, the weekly line, the short position still has the advantage in the short term, and it is likely to continue to extend the lows. This week, it is expected to reach the 2470 area again.
This week, we need to focus on the previous two double-needle bottoming positions around 2470. In terms of the weekly and daily closings, the downward trend is obvious, and it is expected to continue to bottom out. If the position cannot be supported, then the gold short position profit will definitely fall sharply. In terms of intraday operations, long orders are not considered for the time being. Short orders can be participated in the rebound near 2505
Detailed intraday operation strategy:
Short gold rebounds at 2505, defend 2515, target 2495-2480
9.6 Gold short-term operation strategyGold is currently priced at 2497 in the morning, so go short directly!
Gold fell sharply at a high level last Friday, and the rebound of gold was not strong. Gold continued to build a high top, and the rebound was an opportunity to go short; Gold is currently priced at 2497 in the morning, so go short directly!
Gold has a multiple top structure at a high level in 4 hours, and the 4-hour moving average of gold began to turn downward. Once a downward dead cross is formed, the space for gold to fall will be opened, and the decline of gold will increase. Gold rebounded weakly in the morning, and even 2500 could not be broken. The rebound was weak, so go short at 2497 first.
The market changes rapidly, plan your trade, trade your plan, gold is weak and has no rebound, which is a signal of weakening, and gold continues to go short to the end.
Gold is short at 2497, stop loss at 2507, target 2480-2475
Sellers are determined not to let Gold reach a new ATH✍️ NOVA hello everyone, Let's comment on gold price next week from 9/9 - 9/13/2024
🔥 World situation:
Gold pulled back after failing to reach the all-time high of $2,531, dropping over 0.80% late in the North American session. Uncertainty over whether the Fed will cut interest rates by 50 or 25 basis points in September weighed on the metal, with XAU/USD now trading at $2,493 after peaking at $2,529.
The US Nonfarm Payrolls (NFP) report for August missed expectations but showed improvement from July’s revised figures. The unemployment rate fell, and Average Hourly Earnings increased, adding complexity to the economic outlook.
🔥 Identify:
1 thing worth noting: 6 times the price of Gold touched the old peak area ATH 2527-2531, the price reacted very strongly. This shows that the momentum for price increase is still very strong, however, large funds and investors do not want the price of Gold to increase during this time, maybe after the interest rate cut
Long-term time frames, technical aspects still show that Gold is developing stably, the main trend is Up
We will soon see a new peak, a new ATH in late 2024 soon
🔥 Technically:
Based on the resistance and support areas of the gold price according to the H2 frame, NOVA identifies the important key areas as follows:
Resistance: $2505, $2530, 2559
Support : $2471, $2453
🔥 NOTE:
Note: Nova wishes traders to manage their capital well
- take the number of lots that match your capital
- Takeprofit equal to 4-6% of capital account
- Stoplose equal to 2-3% of capital account
- The winner is the one who sticks with the market the longest
GBPUSD week 37 analysis🌐Fundamental Analysis
GBPUSD fell sharply after hitting a fresh weekly high above the 1.3200 round-figure resistance against the US Dollar (USD) during Friday's North American session. The GBP/USD pair fell as the US Dollar rebounded strongly following the US (US) Non-Farm Payrolls (NFP) data for August. The US Dollar Index (DXY), which tracks the value of the Greenback against six major currencies, recovered strongly to near 101.40 after falling to near 100.60.
The short-term outlook for the British currency remains upbeat recently as investors expect the BoE's policy easing cycle to be shallower than that of other central banks.
The main reason behind the strong speculation of a gradual BoE easing cycle is that the economy is performing better than previously expected and the fact that inflation in the services sector remains high. In the UK economic calendar next week, investors will focus on the Employment data for the quarter ending in July and the monthly Gross Domestic Product (GDP) data for July. Both of these figures could be key to determining what the BoE will decide to do with interest rates when it meets later this month.
📊Technical Analysis
The NFP pullback is approaching the 1.308 support zone. The uptrend is still strong with a possible retracement to the 1.0 Fibonacci around the 1.301 zone to bounce back to wave 5 and complete the bullish wave pattern. 1.334 would be a nice Fibonacci resistance zone where we can look at the reaction to execute the SELL signals. In the opposite direction, the Dow breakout of wave 1 formed a strong support level around 1.288. The EMA 34 is gradually decreasing in slope compared to the EMA 89, showing that the market structure is leaning towards the upside but not as strong as last week.
Support: 1.301-1.299
Resistance: 1.322- 1.334
🕯Trading Signals
BUY GBPUSD: 1.301-1.299 Stoploss 1.297
BUY GBPUSD: 1.288-1.286 Stoploss 1.284
SELL GBPUSD 1.334-1.336 Stoploss 1.338
9.6 Gold summaryWe have always emphasized that if gold does not break the new high, it is short. Gold maintains the idea of shorting today. Gold finally fell as expected. Gold has a bumper harvest overall. Gold fell sharply from a high position. The profit was 56K and the position was closed.
Gold has multiple top structures in 4 hours. The 4-hour moving average of gold is still showing signs of turning downward. The positive news of non-agricultural gold has not been able to make gold break the historical high. It seems that it is still difficult for gold to directly break the historical high in the short term.
A Friday full of surprises and a perfect weekend!
Gold: Daytrading Levels to Watch on the 15-Minute ChartKey daytrading levels are in focus on this 15-minute Gold chart. The red and green lines mark crucial areas where price may react, offering potential short-term opportunities for traders. Whether you're looking for a quick scalp or a more extended move, keep an eye on how price interacts with these lines.
Curious about how these levels are identified? Feel free to ask in the comments, and follow for more chart breakdowns!
Disclaimer: This is not financial advice. Always trade responsibly!
Gold: Buy Opportunity on the 15-Minute ChartGold is showing a potential buy setup on the 15-minute chart, with price reacting from a red line that became support (green line—an area often associated with bullish reactions). This could be a chance to catch a move up, but as always, timing is key. Keep an eye on how the price behaves around this level for a clearer entry signal.
Questions about these levels? Drop a comment and stay tuned for more updates!
*Disclaimer: This is not financial advice. Always trade responsibly!*
