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PMI - revised, cumulative below 2500 ! XAU / USD ⭐️ Smart investment, Strong finance ⭐️ GOLDEN INFORMATION: Gold prices (XAU/USD) held firm above the $2,500 mark during the Asian session on Thursday, staying near the record high reached earlier this week. On Wednesday, data revealed that US job growth over the past year was weaker than initially estimated, and the July FOMC meeting minutes showed that several officials supported an immediate rate cut. This strengthened expectations for the Fed to start easing its policy in September, which pushed the US Dollar (USD) to a new low for the year and provided a boost to gold. Investors are now seeking more clarity on whether the weaker US labor market might justify a larger rate cut next month. This makes Fed Chair Jerome Powell's upcoming speech at the Jackson Hole Symposium crucial for influencing the USD and gold's direction. Meanwhile, the risk-on sentiment is capping further gains for gold, though ongoing tensions between Israel and Hamas could limit any downside. Traders are also keeping an eye on global PMIs and US macro data for short-term opportunities. ⭐️ Personal comments NOVA: almost 100% sure, in September 2024 the FED will cut interest rates, the sentiment is very optimistic about the market. Before the price continues to create ATH, it is necessary to get more liquidity in the area below 2450 - 2500 ⭐️ SET UP GOLD PRICE: 🔥BUY GOLD zone: $2477 - $2475 SL $2470 TP1: $2485 TP2: $2500 TP3: $2510 🔥SELL GOLD zone: $2510 - $2512 SL $2516 scalping TP1: $2505 TP2: $2500 TP3: $2490 🔥SELL GOLD zone: $2550 - $2552 SL $2557 TP1: $2540 TP2: $2530 TP3: $2520 ⭐️ 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
OANDA:XAUUSDShort
by Nova-Scalper
20
XAUUSD 4HR Analysis UpdateGolds Bull Run Following my recent analysis post where I identified a key pivot zone leading into the next price impulse surge we are now running profit with momentum in our favour and the first phase of the analysis completed, going forwards I am looking for price to push a little further into the 2520's where I will await a suitable correction followed by various conformations affirming the continuation of golds ascent and another long opportunity. As suggested todays powell speech and other red flag events helped surge the price off the floating ema support, dynamic support and resistance and key order block pivot S+R level, with further jackson symposium events on saturday and durable goods orders on monday we could see price continue the bullish favour heading into the opening of next week. What is your thoughts on the future of price movement for this precious metal ? Let me know in the comments below.
BLACKBULL:XAUUSDLong
by OfficialKieranTrewick
Gold short-term operation analysis suggestionsGold fluctuated and rose under the speech of Fed Chairman Powell, rising from 2504 all the way to 2516, an increase of 12 points, and then consolidated and tested back and forth, but failed to reach the resistance point of 2520. Powell made it very clear in his statement that inflation is falling. In addition, the Fed believes that inflation will continue to fall and employment has not been adversely affected. Powell wanted the market to know that the Fed was not behind the curve. By clarifying the possibility of a rate cut in September, Powell is actually cutting interest rates a month in advance. The timing of the first cut is clear, and the magnitude is still in suspense. I don't think the Fed will suddenly cut interest rates by 50 basis points. Slow and steady is the way the Fed hopes to implement easing policies in the early stages. Resistance level 2520 2530 2550 Support level 2505 2500 2490
TVC:GOLDLong
by David_strategy
XAU officially adjusted! Short term decrease⭐️ Smart investment, Strong finance ⭐️ GOLDEN INFORMATION: Gold prices (XAU/USD) found support during the Asian session on Friday, rebounding from the weekly low hit the day before. The expectation that the Federal Reserve (Fed) will begin cutting interest rates in September is weighing on the US Dollar (USD), despite its recent recovery from a yearly low. This, along with ongoing geopolitical tensions, continues to boost demand for the safe-haven metal. However, gold remains below the $2,500 mark as traders await Fed Chair Jerome Powell's speech at the Jackson Hole Symposium for more clarity on the rate-cut outlook, which could drive the next move. Additionally, developments in Israel-Hamas ceasefire talks will likely influence the short-term direction of XAU/USD, which is on track for modest weekly losses. ⭐️ Personal comments NOVA: Gold makes ATH 2531 correction is required to bring more liquidity, balance buyers and sellers in the market, before receiving the first interest rate cut in September 2024 ⭐️ SET UP GOLD PRICE: 🔥BUY GOLD zone: $2462 - $2460 SL $2457 scalping TP1: $2468 TP2: $2473 TP3: $2480 🔥BUY GOLD zone: $2439 - $2441 SL $2434 TP1: $2450 TP2: $2465 TP3: $2480 🔥SELL GOLD zone: $2500 - $2498 SL $2505 TP1: $2490 TP2: $2480 TP3: $2470 ⭐️ 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
OANDA:XAUUSDShort
by Nova-Scalper
7
8.23 Gold Short-term AnalysisGold fell all the way to 2475 after the release of the number of people applying for unemployment benefits in the United States on August 17 at 10:00 Eastern Time, and then rebounded slightly and is currently trading around 2493. Piovano pointed out that the market's attention is still focused on the speech of Federal Reserve Chairman Powell in Jackson Hole. This will determine whether gold can stand above the new historical high of 2530 or fall below the third support line of 2450. Support level: $2470.85/ounce; $2450.22/ounce; $2430.35/ounce Resistance level: $2519.18/ounce; $2531.76/ounce; $2535.00/ounce Do you have any different opinions and suggestions on gold? Please like and comment
TVC:GOLD
by David_strategy
XAU/USD 23 August 2024 Intraday AnalysisH4 Analysis: -> Swing: Bullish. -> Internal: Bullish. Price has printed a bullish iBOS. After an iBOS (Internal Break of Structure) we expect a bearish pullback. Price has printed bearish CHoCH which indicates, but not confirms bearish pullback phase initiation Intraday expectation: Whilst price did continue bearish as part of bearish pullback phase, I am concerned that price has not, as yet, pulled back deep enough into either H4 demand zone or discount of 50% EQ, therefore, it is my view that price will seek further liquidity before a sustained bullish move to target weak internal high. H4 Chart: M15 Analysis: -> Swing: Bullish. -> Internal: Bearish. As mentioned in previous analysis whereby we needed to be mindful that H4, following bullish iBOS, has yet to initiate bearish pullback, therefore, it would not be unexpected if strong internal low was to be targeted. This is exactly what price printed, printing a bearish iBOS. Bullish CHoCH positioning is denoted with a blue dotted line which is in premium of 50% EQ, therefore, if price reaches 50% EQ I will be happy to confirm internal low. Price is reacting from M15 supply zone. Intraday expectation: I would expect price to print into premium of 50% EQ before targeting weak internal low, however, price is reacting to an M15 supply zone. M15 Chart:
OANDA:XAUUSD
by Khan_YIK
Gold price analysis August 23☘️Fundamental analysis: Gold prices attracted fresh buyers in the Asian session on Friday, moving away from the weekly lows touched the previous day. Growing acceptance that the Federal Reserve (Fed) will start lowering borrowing costs at its September policy meeting did not help the US Dollar (USD) to capitalize on a decent overnight rebound from weekly lows. However, gold prices remained below the psychological $2,500 level as traders eagerly awaited Fed Chairman Jerome Powell’s speech at the Jackson Hole Symposium for clues on the path of interest rate cuts, which could provide fresh directional momentum. In addition, developments surrounding the ceasefire talks between Israel and Hamas will play a key role in influencing the near-term trajectory of XAU/USD, which looks set to post modest losses for the week. ☘️Technical Analysis Gold recovers from the important technical support level of 2470, which is also the support level that I identified for you in the previous analysis. The important price zone that gold is heading towards is 2500. There will be two important cases when the price breaks and does not break out of the 2500 zone. When breaking the 2500 zone and heading towards the resistance zones that gold could not break yesterday. The zones of interest are 2509 and 2513, which are also important today. If it cannot break, it may continue to downtrend. On the contrary, breaking the 2513 zone will head towards 2519 and form an uptrend when trading successfully above 2520. In the opposite direction, the important support zone is the breakout zone of 2485 and the support zone of yesterday's bottom around 2571. If it breaks 2471, 2465 becomes the final support zone. Wish you successful trading Resistance: 2500 - 2509 - 2513 - 2519 - 2530 Support: 2485 - 2472 - 2465 SELL price zone 2500 - 2498 Stoploss 2505 SELL zone 2519 - 2521 Stoploss 2524 BUY scalp price zone 2465 - 2363 stoploss 2460 BUY price zone 2472-2470 stoploss 2468
OANDA:XAUUSD
by TVS-Trader
Strategic Moves by Institutional Buyers Signal Bullish ProspectsGold commenced 2024 on a strong footing, exhibiting significant upward momentum during the first quarter. The accumulation phase initiated by institutional buyers stretched from January to mid-February, beginning at the S3 support level of $2,075 per troy ounce. The upward movement propelled gold prices to the R5 resistance level of $2,503 per ounce by the second week of April, marking the onset of the second quarter. This peak prompted profit-taking, stabilizing the price within a range between $2,365 and $2,503 per ounce. Throughout this period, it appears that institutional buyers were actively building positions, likely in anticipation of driving prices higher. This strategic positioning is evident from the price consolidation between the R3 and R4 resistance levels for nearly five weeks during the third quarter. The persistence of prices within this range underlines a robust buying interest. A critical breakout occurred when prices surpassed the R4 level at $2,503, which had previously acted as a formidable resistance point for several months. This breakout is a strong indication of continued dominance by institutional buyers in the gold market. Currently, with prices holding above the R4 level, the market is poised to target the R5 level at $2,605 for the third quarter, with potential for further ascension in Q4 of 2024. Given these dynamics, traders are advised to capitalize on any pullbacks towards the R4 level, as these dips present favorable buying opportunities within a bullish gold market framework.
COMEX:GCZ2024Long
by msrozba
XAUUSD - 4H Gold’s Potential DownturnOANDA:XAUUSD has recently surged to the top of its ascending channel, reaching above the $2,500 level. This move, however, appears to be a liquidity hunt, where the market triggers stops above significant levels before reversing direction. After this liquidity grab, technical analysis suggests a strong possibility of gold retracing within the ascending channel. Fundamentally, several factors are contributing to the potential downside. The recent easing of tensions in the Israel-Palestine conflict has reduced demand for safe-haven assets like gold. Additionally, the de-escalation in geopolitical risks generally leads to a pullback in gold prices as investors shift towards riskier assets. Moreover, the broader market sentiment is leaning towards a stronger dollar, especially with expectations of continued monetary tightening by central banks, which could also pressure gold prices downward. Given these technical and fundamental factors, gold is likely to face a correction back within the channel, with potential support levels around $2,350-$2,400. This retracement would align with the overall market dynamics and investor sentiment shifting away from gold.
FX:XAUUSDShort
by Sober_Trading
7
Gold trading strategy August 22☘️Fundamental Analysis: Gold prices attracted some sellers during the Asian session on Thursday and slid closer to the psychological $2,500 mark, although they held above the overnight low. The US dollar (USD) gained some positive momentum and now appears to have broken a four-day losing streak, hitting a fresh yearly low on Wednesday. This, coupled with the underlying bullish sentiment across global financial markets, turned out to be a major factor undermining the safe-haven precious metal. That said, dovish expectations from the Federal Reserve (Fed) could limit the USD’s recovery and act as a bullish driver for Gold. Data released on Wednesday showed that US job growth over the year through March was weaker than initially estimated. Moreover, the minutes of the July FOMC meeting showed that some officials are leaning towards an immediate rate cut. This reaffirms bets for the imminent start of the Fed easing cycle in September, which would benefit the non-yielding yellow metal. ☘️Technical Analysis: Gold is trading in a range of 2495-2518. The consolidation zone that has been maintained throughout this week needs to be stronger for gold to break out of the price range. On the upside, gold will face immediate resistance around 2513 before reaching the important breakout zone of 2518. The all-time resistance around 2531 will be the last resistance before making a new ATH and heading towards higher hooks. If gold fails to break the resistance of 2513 and breaks the lower band of 2395, the important support zone around 2385 will be the key place to watch. The lowest level at the sell plan is 2376. Resistance: 2519 - 2527 - 2531 - 2540 - 2552 Support: 2500 - 2495 - 2488 - 2475 - 2470 SELL scalp price zone 2518 - 2520 stoploss 2523 SELL price zone 2550 - 2552 stoploss 2556 BUY price zone 2477 - 2375 stoploss 2471 BUY scalp price zone 2488 - 2386 stoploss 2482
OANDA:XAUUSD
by TVS-Trader
SasanSeifi| Will Gold Continue to Correct? (1H)Hey there, By analysing the OANDA:XAUUSD chart in the short-term 1-hour timeframe, it is observed that the price has experienced corrections from the $2531 level and is now showing a positive reaction within the demand zone, currently trading around $2510. In this timeframe, the outlook leans towards a bearish trend, with a potential decline to corrective targets at $2494, $2490, $2482, and $2477. The potential trends are highlighted in the above chart, and there is a possibility of a price reversal from the $2514 to $2523 range. To better understand the next price movement, it’s essential to observe how the price reacts to these levels. If momentum weakens and the necessary confirmations are received from the specified levels, the corrective scenario will gain significance. Conversely, if the price encounters increased demand and successfully penetrates and stabilizes above the mentioned levels, the possibility of further growth and invalidation of the corrective scenario increases. (For the uptrend to continue and to reach higher targets, the $2531 resistance needs to be broken, and the price must stabilize above this level.) 💢 Please remember that this is just my personal viewpoint and should not be taken as investment advice. I’d love to hear your thoughts and share opinions! Happy trading!✌😎 Sure, if you have any more questions or need further clarification, feel free to ask. I'm here to help!✌
OANDA:XAUUSDShort
by SasanSeifi
2
Gold entered into a bearish structure after breaking channelHello Traders In This Chart GOLD HOURLY Forex Forecast By FOREX PLANET today Gold analysis 👆 🟢This Chart includes_ (GOLD market update) 🟢What is The Next Opportunity on GOLD Market 🟢how to Enter to the Valid Entry With Assurance Profit This CHART is For Trader's that Want to Improve Their Technical Analysis Skills and Their Trading By Understanding How To Analyze The Market Using Multiple Timeframes and Understanding The Bigger Picture on the Charts
OANDA:XAUUSDLong
by ForexMasters2000
8.22 Gold Operation AnalysisGold fluctuated and fell during the European session after the release of the US weekly jobless claims data on August 17. It has now fallen below the support line of the lower Bollinger band of 2485. The data is lower than expected. Gold should have been bullish, but it fell instead of rising. For this situation, my personal analysis is that the bulls may be accumulating momentum to fall back and rush higher. The long-term trend of gold is definitely rising, but it will inevitably fluctuate and consolidate in the medium term. Key resistance levels are 2498, 2512, 2522, and 2530. Key support levels are 2483, 2473, 2463, and 2450.
TVC:GOLDLong
by David_strategy
8.22 Gold Trend Operation AnalysisThrough the analysis of automatic trend lines and trend charts, we know that gold has rebounded from the 2499 line below in the early trading. It is still a little short of the first support level below. The short-term 2508 line has become the critical point between long and short positions. The short-term upper 2518 line is the first pressure level. In the short term, it will continue to fluctuate and consolidate in this 20 US dollar space. In terms of operation, we continue to focus on buying on dips with the idea of ​​high-altitude and low-multiple. Short gold at 2518, stop loss at 2526, take profit at 2500; Long gold at 2498, stop loss at 2490, take profit at 2513. What are your different views on gold? Welcome to like and comment
TVC:GOLDLong
by David_strategy
XAU/USD: Correction to Support?Upside Momentum Slowing on the Monthly Chart Despite the yellow metal working with a clear uptrend and shaking hands with fresh record highs, momentum to the upside has noticeably decelerated. This can be observed through price action and the Relative Strength Index (RSI) on the monthly scale, which tests overbought conditions and exhibits the possibility of negative divergence. Breakout in Play On the daily timeframe, gold recently ventured north of a consolidation between US$2,363 and US$2,470 late last week and also broke through the upper boundary of an ascending channel extended from the high of US$2,450. Consequently, before buyers attempt to take things higher, a textbook correction and retest of the breached boundary (black circle) could be seen to potentially deliver support. Dip buying? H1 Technicals Converging with Daily Structure Following the recent all-time high, H1 flow has pencilled in the beginning of an early short-term downtrend (lower low, lower high and subsequent lower low). What jumps out on the H1 chart, however, is support coming in at US$2,477, which happens to converge with H1 trendline support, taken from the low of US$2,381, and the breached resistances on the daily chart. This H1 area of support is also located just south of the higher low at US$2,485 formed on 19 August (black circle). Since traders often position protective stop-loss orders beneath swing lows like US$2,485, whipsawing beneath this boundary could attract larger buyers looking to hit the offer from the noted H1 support on the back of the fresh liquidity. Price Direction? While upside momentum is slowing on the longer-term monthly chart, a correction on the daily chart to the recently breached resistance could be seen. This move may prompt dip buying, particularly from H1 support around US$2,477, which shares chart space with daily structure.
FPMARKETS:XAUUSDLong
by FPMarkets
2