Gold Thoughts 24-07-2024Please find my GOLD market analysis for today below. As a price action trader, I encourage you to compare my charts with yours and use my insights to enhance your skills. These videos are designed for educational purposes only, not as trading signals. My goal is to help you grow and become a proficient trader
Goldprice
GOLD ( SENSITIVE AREA ) ( 4H )XAUUSD
HELLO TRADERS
Tendency , the price in the sensitive area between 2,420$ & 2,392$ .
TURNING LEVEL (1) : the price of this level at 2,420$ , so if the price breaking this level reach a resistance level (1) .
TURNING LEVEL (2) : the price of this level at 2,392$ , so if the price breaking this level reach a support level (1) .
RESISTANCE LEVEL (1) : this level around 2,442$ , for reach this resistance level the price need breaking a turning level (1) .
RESISTANCE LEVEL (2) : around 2,475$ , for reach this level it will be breaking by open 4h or 1h candle above resistance level (1)
SUPPORT LEVEL (1) : this level around 2,365$$ , for reach this support level the price need breaking a turning level (2) .
SUPPORT LEVEL (2) : support level at 2,337$ , for reach this level will be breaking by open 4h candle below support level (1) .
CORRECTIVE LEVEL : if the price corrective turning level (1) it is mean the price trying to reach a support level (1) , so if the price corrective a turning level (2) refers trying to reach a resistance level (1).
TARGET LEVEL :
RESISTANCE LEVEL : 2,442$ , 2,475$ ,
SUPPORT LEVEL : 2,365$ , 2,337$ .
GOLD ( UNDER UPWARD PRESSURE ) ( 4H )XAUUSD
HELLO TRADERS
INTRODUCTION : gold price rose during trading on Monday , after us president joe Biden formally announced his withdrawal form the presidential race last evening .
Tendency , the price is under bullish pressure until trade above turning level .
TURNING LEVEL : the price of turning level around 2,392$ , indicates the price trade above this level reach a resistance level , but if breaking this level reach a support level .
RESISTANCE LEVEL : around 2,420$ , for reach this level will be stabilizing above turning level
SUPPORT LEVEL : support level at 2,365$ , for reach this level will be breaking and stabilizing below turning level .
PRICE MOVEMENT : the price is under bullish pressure , as long as the price trading above 2,392$ reach a resistance level (1) at 2,420$ , then it is requirement breaking FVG for reach resistance level (2) at 2,442$, but if breaking turning level reach a support level (1) at 2,365$ , it is a strong support level , the breaking this level reach a support level (2) at 2,337$ .
TARGET LEVEL :
RESISTANCE LEVEL : 2,420$ , 2,442$ .
SUPPORT LEVEL ; 2,365$ , 2,337$ .
XAU/USD struggles to hold above $2400⭐️ Smart investment, Strong finance
⭐️ GOLDEN INFORMATION:
Gold price (XAU/USD) gains some positive traction during the Asian session on Monday and for now, seems to have snapped a three-day losing streak to sub-$2,400 levels, or a one-week low touched on Friday. The US political development over the weekend prompts fresh selling around the US Dollar (USD), which, along with bets for an imminent start of the Federal Reserve's (Fed) rate-cutting cycle in September, benefits the precious metal.
Apart from this, worries about slowing Chinese economic growth, geopolitical risks stemming from the protracted Russia-Ukraine war and the ongoing conflicts in the Middle East turn out to be another factor lending support to the safe-haven Gold price. The USD, however, lacks follow-through selling as investors await more cues about the Fed's policy path, which, in turn, will determine the next leg of a direcitonal move for the non-yielding yellow metal.
⭐️ Personal comments NOVA:
Gold price had a short recovery above the $2400 area at the beginning of Monday week - sideways accumulation around this support area
⭐️ SET UP GOLD PRICE:
🔥BUY GOLD zone: $2392 - $2390 SL $2385
TP1: $2398
TP2: $2405
TP3: $2410
🔥SELL GOLD zone: $2419 - $2421 SL $2426
TP1: $2410
TP2: $2400
TP3: $2390
⭐️ 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 Monday Trading Strategies and Signals
XAUUSD.
Today is Monday, July 22. It is the first trading day of this week.
Today, gold opened at 2412 and has been fluctuating slowly within the range.
After last week's violent fluctuations, gold is now very polarized. So I think it is likely to be a fluctuating trend today. When the trend is oscillating, we can make profits in both buying and selling orders.
I will give you several corresponding transaction prices. You can refer to them.
Gold buy:
XAUUSD buy:
2391-2394
2377-2381
XAUUSD sell:
2417-2422
2429-2433
The above is my judgment on the gold trend today. I hope everyone will gain something.
If you are interested in my analysis, please join me and give me a thumbs up
Gold will soon hit the 2500 markFundamental analysis
Gold prices edged up slightly above $2,470 a troy ounce on Thursday, remaining near record highs amid growing optimism that the Federal Reserve (Fed) will cut interest rates in September. Low Interest Rates makes non-yielding assets like Gold more attractive to investors.
Federal Reserve officials have expressed growing confidence that the pace of price increases is now more in line with policymakers' goals. Traders will likely keep an eye on weekly US Initial Jobless Claims and the Philly Fed Manufacturing Index on Thursday, along with a speech by the Fed's Lorie Logan.
Technical analysis
However, the 14-day Relative Strength Index (RSI) is positioned slightly below the 70 level, suggesting confirmation of the bullish trend but also overbought conditions for the asset. A correction can be expected in the short term.
. A breakout above this 2470 level could see the pair test the old peak of 2484 and a gradual move towards the psychological level of 2500
On the downside, the Exponential Moving Average (EMA 34) on the h4 timeframe is forming two strong support levels at 2,440 which could act as immediate support, followed by the lower boundary of the ascending channel at $2,421. A break below the latter could put downward pressure on the XAU/USD pair to navigate the area around the regression support at $2,290.
Support: 2450 - 2442 - 2432
Resistance: 2485 - 2495 - 2500 - 2515 - 2525
BUY zone 2442 - 2440 stoploss 2436
BUY zone 2432 - 2430 stoploss 2426
SELL zone 2485 stoploss 2490
SELL zone 2500 stoploss 2500
The recovery is necessary for investors to buy long-term☘️Fundamental analysis
Gold prices extended their decline during the European session on Friday, now near multi-day lows around the $2,420 region. The US Dollar (USD) continued the previous day's solid recovery from a four-month low and became the main factor pulling Gold back more than 1% on the day. Additionally, some profit-taking , especially after the recent price increase has further contributed to the decline, although the decline appears limited.
Investors now appear confident that the Federal Reserve will begin lowering borrowing costs in September and have priced in the possibility of more rate cuts later in the year. This puts US Treasury yields on the defensive and will limit the USD. In addition, risk avoidance can support safe gold prices. Furthermore, geopolitical tensions and central bank demands will help limit any meaningful devaluation moves in the non-yielding yellow metal.
☘️Technical analysis
From a technical standpoint, any further decline is likely to find good support near the 2315 area ahead of the $2,400 round mark. Next up is a break of horizontal resistance $2,390-2,385, which has now turned into support which, if broken decisively, could prompt some technical selling.
On the other hand, the highs during the Asian session, around the $2,445 region, now appear to act as an immediate barrier, above which Gold prices could rise to the $2,469-2,470 region. With the oscillations on the h2 chart remaining firmly in the positive zone, bulls could aim to retest the all-time highs, near the $2,483-2,484 area, and conquer the psychological $2,500 mark.
Support: 2417 - 2405 - 2400 - 2391
Resistance: 2480-2465-2453-2443
SELL price range 2480-2482 stoploss 2485
SELL price range 2451 - 2453 stoploss 2456
BUY price range 2293-2291 stoploss 2288
BUY price range 2400 - 2398 stoploss 2395
GOLD analysis week 30Fundamental analysis
Throughout the weekend, gold prices fell due to the strength of the US Dollar and profit-taking activities in the market. This week, the gold market ended up in a key price position again, testing key support at the initial price of $2,400/ounce.
Earlier, gold prices hit a record high this week on growing expectations that the Federal Reserve will cut interest rates in September.
Currently, gold prices are closely aligned with interest rate expectations and gold's climb to record highs also coincides with expectations that the Federal Reserve will begin its easing cycle in September. According to CME Group's FedWatch tool, the market is pricing in a more than 98.1% chance that the Fed will cut interest rates in September, increasing the appeal of non-interest-bearing assets such as Gold.
The only risk that could reverse gold's uptrend is a surprise increase in inflation, making investors doubt the possibility of interest rate cuts. However, recent data along with comments from the Fed suggest that the likelihood of inflation suddenly reaching the Fed's 2% target is very low.
Investors will have to wait until Friday for information on the June core Personal Consumer Expenditure Price Index (PCE). Last month, the Fed's preferred gauge of inflation showed a 2.6% increase.
Besides inflation data, the market will also focus on US GDP data.
In terms of central bank activity, the Bank of Canada will announce its monetary policy decision on Wednesday, with economists believing that weaker inflation data will pave the way for the central bank to cut interest rates. capacity.
Technical analysis
Gold prices showed that after reaching an all-time high last week, gold corrected downward for three consecutive sessions and ended the week at a key support point, the initial price of $2,400.
This $2,400 level is not only a base price but also a horizontal support and short-term trendline. While gold continues to sell below its initial price of $2,400, it is at risk of a deeper decline with the next target being the 34 moving average on the daily time frame.
However, with a close at $2,400, the technical uptrend has not yet reversed. Meanwhile, the long-term trend of gold is still completely towards the possibility of price increase.
As long as gold remains above the 2398 EMA, pullbacks should only be considered corrective moves, profit-taking activities in the market that do not change the main trend. Notable technical levels are listed as follows:
Support: 2392 - 2382 - 2371 - 2360 - 2352
Resistance: 2406 - 2420 - 2427 - 2436 - 2450 - 2467
XAU correction DOWN - opportunity for $2400⭐️ Smart investment, Strong finance
⭐️ GOLDEN INFORMATION:
The US Dollar (USD) strengthens after a recent decline, mainly due to the drop in the Euro currency. This is putting pressure on commodities. Profit-taking and geopolitical tensions may contribute to the downfall of precious metals, but central bank demand should provide some support.
⭐️ Personal comments NOVA:
The FOMO from the market has gradually cooled down after much information that the FED will accelerate the process of cutting interest rates by 0.25%. indispensable for stability for the Gold market
⭐️ SET UP GOLD PRICE:
🔥BUY GOLD zone: $2400 - $2398 SL $2393
TP1: $2408
TP2: $2415
TP3: $2430
🔥BUY GOLD zone: $2415 - $2417 SL $2412 scalping
TP1: $2422
TP2: $2428
TP3: $2435
🔥SELL GOLD zone: $2465 - $2467 SL $2472
TP1: $2455
TP2: $2440
TP3: $2430
⭐️ 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 - 4H , Are you ready for a dip correction?In the 4H and Daily chart, XAUUSD has exhibited three pushes, and today the price consolidated under the trend line. This formation is an ascending channel, which can break from the top, but the last bullish leg didn’t have enough pullbacks. It seems bulls are taking some profits now, indicating a potential fall from this area.
XAUUSD: 1 HR View Possible Retrace at $2430Dear Traders,
Gold has been ranging between $2460 to $2470 indicating a major correction in the market. Although we already have a buying entry on daily timeframe idea. Our that idea remain valid this is a secondary approach on what could happen in today or tomorrow.
Good Luck!
XAUUSD:18/7 Today's Market Analysis and StrategyGold technical analysis
Daily resistance 2500, support below 2400
Four-hour resistance 2500, support below 2452-40
Gold operation suggestions: From the perspective of 4-hour analysis, the support below continues to focus on the hourly top and bottom conversion position 2450-56. The bullish trend remains unchanged when the price falls back to this position. The upper target still focuses on breaking the new high. The short-term gold price bullish strong dividing line moves up to 2420-24. The daily level stabilizes above this position and continues to maintain the same low-multiple rhythm. Before a clear suppression pattern appears, short orders should be cautious.
BUY:2452near SL:2447
BUY:2440near SL:2435
Technical analysis only provides trading direction!
xauusd Thursday trading strategy
xauusd Today is Thursday, July 18.
As I predicted, gold retreated from 2483 to around 2451 yesterday. Very accurate analysis. Today I will continue to bring you trading strategies
I still circle the price range for you:
The current range is between 2430-2483. Breaking through any range will trigger a new trend.
1 Trading within 2430-2483:
Buy:
2438-2445
2427-2432
Sell
2469-2474 sl2476.5
2479-2483 sl2486
Trading outside the range:
Sell:
2492-2495 Break through this area and no longer sell.
My analysis currently only includes the above signals. If there is a new trend, I will update it again.
If you like my analysis, please like and join me. I will help you trade every day and make trading simple
Long gold price
The position of 2452-2448 is a strong support. From the trend point of view, it is a good position to go long.
Focus on the impact after the opening of the Asian market.
TVC:GOLD BINANCE:BTCUSDT.P MCX:GOLD1! OANDA:XAUUSD COMEX:GC1! COMEX_MINI:MGC1! BINANCE:BTCUSDT NYMEX:WTI1!
Continuously analyze accurately for a month. Good at account management. The current market is exactly where I am good at trading. So you should not continue to be in a state of loss. Follow me. Guaranteed profits will not disappoint you.
XAUUSD on a 15-minute timeframeThe blue highlighted area around the 2,470-2,479 level indicates a resistance zone where the price has previously faced selling pressure.
A key support level is marked by the red horizontal line around 2,450.723.
The price is showing a bearish trend, declining from the resistance zone, and is projected to drop further towards the support level before a potential rebound.
Consider entering a short position around the current price level (2,461.937) or upon confirmation of further bearish momentum.
Ensure proper risk management by setting stop losses and monitoring key levels for any invalidation of the bullish scenario.
XAU/USD 18 July 2024 Intraday AnalysisH4 Analysis:
-> Swing: Bullish.
-> Internal: Bullish.
Price has printed a swing BOS, printing an all time high.
I have been previously mentioning that price could be seeking further liquidity to fuel it's bearish pullback phase and price could create a higher high to bring CHoCH positioning closer to current price action to allow for a more realistic indication of pullback phase.
This again, is precisely what happened. Price has printed all time high and CHoCH positioning has been brought closer to current price action. CHoCH positioning is denoted with a blue horizontal dotted line.
50% EQ for swing structure is denoted in black. 50% EQ for internal structure is denoted in blue.
Price has printed a bearish CHoCH indicating bearish pullback phase initiation, however, price has been unable to sustain it's bearish pullback phase and seems to be targeting the weak internal high.
Intraday expectation: Price has been unable to sustain it's bearish pullback phase. I would therefore stand aside an wait for price to confirm. It may be possible that price will print a higher high which would bring the internal low closer to current price action allowing for more realistic confirmation of bearish pullback phase initiation.
H4 Chart:
M15 Analysis:
-> Swing: Bullish.
-> Internal: Bearish.
Price has printed a bearish iBOS which confirms swing pullback phase initiation of the swing structure and has also confirmed swing range, however, I will be monitoring this.
Intraday expectation: Internal structure is bearish, swing and internal high are positioned the same making swing high weak but the internal high strong. I would therefore stand aside and wait to see how price reacts at M15 supply level before taking action.
M15 Chart:
Go long on gold prices. Wait for it to rise.
Yesterday, the high price was sold and the price dropped by about 12 dollars. The members who followed the short selling made a good profit.
Today, we will continue to go long on gold. The current price is around 2369. Trading in the market requires seizing the opportunity. Don't hesitate. When there is a suitable trading opportunity, you must act decisively to trade. Otherwise, your hesitation will lead to greater and greater losses, which will be irreversible.
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TVC:GOLD MCX:GOLD1! OANDA:XAUUSD COMEX:GC1! COINBASE:BTCUSD NYMEX:WTI1! MCX:CRUDEOIL1! TVC:DXY FX:GBPUSD BINANCE:BTCUSDT NYMEX:MCL1! COMEX_MINI:MGC1!
GOLD - Long after filling the imbalance !!Hello traders!
‼️ This is my perspective on GOLD.
Technical analysis: Here we are still in a bullish market structure from 4H timeframe perspective, so I look for a long position. My point of interest is if price continue the retracement to fill the imbalance and then reject from bullish order block.
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GOLD ( CREATED A NEW HISTORICAL PEAK ) ( STRONG RISING ) ( 4H ) XAUUSD
HELLO TRADERS
Tendency , the price is under strong bullish pressure ,after breakout 2,440$
TURNING LEVEL : the price of turning level between 2,475$ and 2,468$ , indicates the price breaking 2,475$ reach a new resistance level or created a new historical peaks , but if breaking 2,468$ reach a support level .
RESISTANCE LEVEL : in the last chart price reach a full resistance level , know this level at 2,491$ , and 2,510$ , for reach this level after breaking 2,475$ .
SUPPORT LEVEL : support level at 2,440$ in previously this level is a resistance level but after breaking know worked a strong support level , for reach this level after breaking 2,468$ .
PRICE MOVEMENT : the price is sensitive area , yesterday price have strong rising an breakout a supply zone reach a full target , created a new historical peaks , price breaking 2,475$ rising or reach a new resistance level at 2,491$ , then reach a 2,510$ , after breaking 2,468$ reach a support level at 2,440$ it is a strong support level , breaking this level the price started a downward .
TARGET LEVEL
RESISTANCE LEVEL : 2,491$ , 2,510$ .
SUPPORT LEVEL ; 2,440$ , 2,425$ .
75: Record Gold Prices What’s Driving the Surge and What’s Next?The price of gold has recently surged to a new all-time high, driven by the anticipation of interest rate cuts by the U.S. Federal Reserve. Gold traders are predicting that the Federal Reserve will implement two rate cuts this year, which is boosting the appeal of gold as a safe-haven asset. Historically, when interest rates are low, gold prices rise due to the decreased opportunity cost of holding non-yielding assets. Additionally, ongoing geopolitical uncertainties and economic instability are further supporting the demand for gold.
Central banks around the world, including China, have been significantly increasing their gold reserves, contributing to the rising prices. This accumulation of gold by central banks indicates confidence in gold's enduring value, which in turn encourages other investors to follow suit. As the Federal Reserve aims to stimulate the economy through lower interest rates, the weakening U.S. dollar makes gold more attractive to foreign investors, further pushing its price upwards.
New high reached $2482.35 - what are the expectations?
Bullish Scenario:
At the moment, a new high has been reached with substantial buying pressure. The buying pressure is evident with the almost straight line up. Given this scenario, the risk of shorting is high. However, when new highs are reached, it's prudent to hedge long positions. You might consider shorting on a lower time frame, targeting $2420.61.
The support level around $2420.61 is clearly identifiable. We could see a retest of this level, presenting an opportunity to initiate new long positions. There is also a possibility that prices will continue to rise. If buying pressure continues, we could see new highs beyond $2482.35, pushing the gold price even further.
Bearish Scenario:
If we lose the support level at $2420.61, it becomes apparent that we should look for short positions and new local lows. In this case, the decline could indicate a reversal in the current bullish trend. The break below this support could lead to a further drop in prices, potentially targeting lower support levels. Traders should watch for signs of weakening momentum and be prepared to shift strategies if the market sentiment turns bearish.
Gold analysis new week☘️Fundamental analysis
Gold prices rose to the 2410 zone on Friday after hitting an intraday low of $2,391. The yellow metal will extend gains for a third straight week on speculation that the Federal Reserve (Fed) could begin an easing cycle in September.
The US Bureau of Labor Statistics on Friday revealed that the Producer Price Index (PPI) increased slightly in June, above analysts' estimates. As a result, US Treasury yields are falling, a boost for the non-yielding metal, which benefits from low yields.
Meanwhile, Fed officials remain cautious about changes in monetary policy. Fed President St. Louis Alberto Musalem stated that current interest rates are appropriate for current conditions and expects the economy to grow between 1.5% and 2% this year. US Dollar Index (DXY), according to The US dollar tracked against six other currencies, which fell more than 0.40% to 104.09.
☘️Technical analysis
Gold prices consolidate above $2,400 for the second day in a row after decisively breaking the Head-and-Shoulders neckline. Momentum favors the buyers, despite being depicted by a flat Relative Strength Index (RSI).
That being said, the path of least resistance is up. The first level of resistance for XAU/USD will be the yearly high of $2,450, ahead of the $2,500 round mark. Conversely, if Gold slips below $2,400 there will be many support levels to push the gold price back to its orbit. Two notable levels coincide with the two EMA lines at 2390 and 2365. Deeper is the 2340 most important Break Out zone that we pay attention to for gold to maintain its long-term uptrend.
Support: 2390-2365-2351-2340
Resistance: 2424-2433-2450
Gold approaches all-time peak☘️Fundamental analysis
Gold prices rose sharply for the second day in a row, reflecting positive moves over the previous six days - and surpassed $2,440 in early European trading. The prevailing risk environment is helping to limit gains in this safe-haven commodity. The short-term bias appears to favor bullish traders amid growing acceptance that the Federal Reserve (Fed) will begin cutting interest rates in September. overnight comments from the Chairman Fed Jerome Powell, kept US Treasury yields low and confirmed a positive outlook for the non-yielding yellow metal. Traders are now looking towards the release of the US Monthly Retail Sales data for fresh impetus.
☘️Technical analysis
The large-frame chart oscillators remain in positive territory and remain far from overbought territory, suggesting that the path of least resistance for Gold prices is to the upside. Therefore, further strength towards challenging the all-time high, around the $2,450 region, seems a clear possibility. Some follow-through buying should be seen as a fresh trigger for bullish traders and pave the way for an extension of the recent uptrend witnessed over the past three weeks or so.
On the other hand, a drop below the 1,618 fibonacci around the $2,430 zone could now be considered a prerequisite for a return to the 2,400 lows. Although this is not an easy thing to do in the current market climate. If this happens, it is considered a great opportunity for investors who missed this price range at the beginning of the week to recapture a long-term BUY signal.
Support: 2430 - 2413 - 2401 - 2392
Resistance: 2449 - 2470 - 2500
SELL price range 2449 - 2451 stoploss 2455
BUY price range 2392 - 2390 stoploss 2386