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Gold May Drop Nearly $1835/$1800, Before It Pull Back to $1900+The price of gold is about to enter a much deeper consolidation, where gold prices may continue lower until they reach support from previous levels of the $1830/$1800 price zone. The market behavior comes when bulls cannot go any higher due to lack of demand. Selling pressure also comes into play that makes them pause before re-engaging with buyers again. The daily chart shows the market stuck in a triangle and gold price holding nearly descending resistance areas. As long as gold price holds below the $1876 price zone, it means there will be no rallies up onto new highs without major catalysts causing panic sellers once more. Technically, it is clear that gold is stuck in a triangle, and gold price holds nearly a resistance area. So, it is expected that the gold price may correct the downside, And that is happening. There are fundamental reasons too. The hawkish Fed expectations and a stronger US dollar keep the gold market in check. The Fed funds futures indicate an eventual rate hike by July 2022, with high chances for another one by November. According to Governor Christopher Waller's comments, the US central bank should speed up tapering if they want more leeway when it comes time to tighten policy again. The prospects of early tightening continue acting as tailwinds on Treasury bond yields which could provide support at lower prices ahead. So, if the gold price drops for the technical perception, gold may not fall below the $1830 price zone. Instead, gold may go up again to the $1865/1870 price zone again. On the other hand, gold is dropping for both fundamental and technical both. As a result, gold has a high chance to drop nearly the $1800 price zone. We also should keep in mind that from December to February, most of the time, gold prices always rise for many reasons. We can discuss this fact in another article. So, if we find gold nearly at the $1800 price zone just keeping 300 pips stop loss, I think we may get 1000/1200 pips.
TVC:GOLD
by Gold_Trading_Expert
4
GOLD RANGING...AND UP AGAINAs I said last weeks since March 21..after 8 months in which all my analyzes about GOLD were almost perfect, as I told you last weeks ... GOLD went down hard and reached the 1763 area from where he climbed the 1793 pass and right over my 1837 target! in the next period I expect a retreat until the area 1823 or even a little lower and from there ... UP again until in the area 1914 or even above THIS WEEEK...as I said GOLD started the retracement movement before the expected climb and I will continue to be in SELL until my 1823, where I will reanalyze the whole strategy! GREAT ATTENTION: *This information is not a Financial Advice.
FOREXCOM:XAUUSD
by BloomFX_SIGNALS
1
XAU Buy/Sell + Exit TradesThe ENTRY/TP zones are your entries as well as your exits. Everything above the current candlestick is resistance, you would treat every zone above as a sell/potential buy break. Everything below the current candlestick is support, which you would then treat every zone below as a buy/potential sell break if it hits the pip rule. More info on the strategy and how to play it: How To Play The Chart Entries/Exits: Buy at green support entry, if it breaks by -35 pips (count it out) then enter a sell and ride to TP1, 2 and 3. Trail stop at each TP which means place your stop loss in profit but with enough room to be able to continue the sell if it continues. Same thing at resistance, sell but if broken by 35 pips then enter the buy and ride to TP1. Each TP is a support or resistance zone , so you could then even take a sell after TP1 for the buys have been hit and if it breaks out then just repeat. All likes/comments and feedback are very much appreciated! Thank you to all of those who support me on a weekly basis, it really does mean a ton to me!
FX:XAUUSD
by ExclusivelyFX
5
Gold Weekly Analysis: Buying Pressure Persists (November:15-19)Gold prices have been on an impressive run the past few months, climbing from $1,540 at the beginning of September to a high just shy of $1,867 last week. However, that might be about all people who will get out if higher inflation numbers and geopolitical tensions continue weighing heavily into risk sentiment. It has seen increased expectations for rate hikes in America stimulate demand for precious metals over time despite their reputation as hedges against economic uncertainty or currency devaluation. This situation has brought fundamentals back into focus as risk sentiment for precious metals evolves in 2017-2018; we can't predict what will happen next, but it seems like things are getting interesting. It is expected gold has chances to test above $1900 or more. W hat happened last week? The 10-year US Treasury bond yield broke below 1.5% last week and lost more than 3%. It allowed gold to push higher at the start of the previous week. The Federal Reserve's Monetary Policy Committee Members were split over whether to raise interest rates this year or wait until next year. It caused a lot of turmoil within currencies around these parts - which have shown signs lately saying it may be time for economic stimulus again after everything calmed down during QE3 following Lehman Brothers' collapse. What About The Next Week? October's Retail Sales data will be released on Tuesday, and it's possible we could see a weaker-than-expected print which would revive concerns over inflation impacting consumer activity negatively. However, an upbeat reading may help risk flows return to markets limiting XAU/USD's upside movement. But gold, as long as above $1800, will be considered as an uptrend market. So, any downside correction may be the chance of buying opportunities. There are not so much market-moving data to be released in the next week. So, investors and traders will care about inflations, 0-year US Treasury bond yield moves, Retail sales reports, and any comments from FOMC policymakers. I think these four factors are enough to understand the gold market from the view of fundamental analysis. Technical View: Technically gold is in an uptrend, and there is no doubt. But gold stuck below the resistance level of $1875. So either we should buy gold after breaking above $1875 or after downward correction nearly $1850 price zone. H4 Chart From the present rate, immediate support is identified at the $1850 price zone. The next significant support shows the $1835/1830 price zone. I don't think next week's data are enough to break below the $1830 price zone unless any unexpected things happen. On the other hand, immediate resistance is identified at the %1870/1875 price zone from the present rate. Breaking above the $1875 price zone will open the door for the $1900/1910 price zone. I expect the market will ring next week between the $1875 to $ 1830 price zone if the retail sales report prints positive or the $1875 to 1900 price zone if the retail sales report comes negative.
TVC:GOLDLong
by Gold_Trading_Expert
1
GOLD RANGING...AND UP AGAINAs I said last weeks since March 21..after 8 months in which all my analyzes about GOLD were almost perfect, as I told you last weeks ... GOLD rejected again from the 1790 area and re-entered the range we were talking about! I will wait for it to reach the 1763 area again and reject it and I will give BUY again! I expect a small retreat and I see a continuation of the climb to 1837 from where I will reanalyze the whole situation! THIS WEEEK...as I said ... GOLD went down hard and reached the 1763 area from where he climbed the 1793 pass and right over my 1837 target! in the next period I expect a retreat until the area 1823 or even a little lower and from there ... UP again until in the area 1914 or even above GREAT ATTENTION: *This information is not a Financial Advice.
FOREXCOM:XAUUSD
by BloomFX_SIGNALS
6
XAUUSD shortShe's going down guys. We can see that DXY has hit the 0.5 level of the fib retracement and bounced off ( or In the process of doing so) and we can see that Gold has come to retest the support of my upward channel that it broke down from last week and that's all I need as far as confirmation to short the gold. But when DXY reaches the top of it's downward channel I expect it to breakout BUT it might not see be ready to TP early on this Gold short. let me know what you think in the comments
OANDA:XAUUSDShort
by s6ixfiv3
GOLD RANGING...AND UP AGAINAs I said last weeks since March 21..after 4 months in which all my analyzes about GOLD were almost perfect, as I told you last week, GOLD rejected again from the 1790 area and re-entered the range we were talking about! I will wait for it to reach the 1763 area again and reject it and I will give BUY again! THIS WEEEK...as I told you last week GOLD went down in the mentioned area from where I had an almost perfect entrance until the 1793 area my final target! next week ... I expect a small retreat and I see a continuation of the climb to 1837 from where I will reanalyze the whole situation! however ... a closure even 1 day under 1793 will make me play again in the range I was telling you about in the last few weeks GREAT ATTENTION: *This information is not a Financial Advice.
FOREXCOM:XAUUSD
by BloomFX_SIGNALS
4