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Gold Weekly Analysis: As long as above 1760, its uptrend. Gold suffered heavy losses last Friday. In addition, the 10-year US Treasury bond yield rose more than 1% on Friday, indicating that investors are becoming less confident in the economy's stability and strength of their earnings potentials. However, the latest retail sales report shows positive economic data like better-than-expected retail figures for October 2021. In addition, it is a positive sign that the upcoming asset purchase program may start soon from Federal Reserve Chair Powell next month. These reports and investors' optimism sent XAU/USD crashing down to $1763, and the market closed at 1766.45 price zone on Friday. The October Manufacturing Survey from the Federal Reserve Bank of Philadelphia and the weekly Initial Jobless Claims data from the United States will directly impact the gold price. If the report indicates that economic growth is slowing, which could impact investors' confidence in the coming quarter, that may negatively impact the USD. Bond VS Gol's Move. See the chart. When bond rate drop, gold price rise. When Bond rate rise, Gold price drop. There has been no significant increase seen after four consecutive quarters of positive figures ahead of current results. The latest available data was released earlier last week due to weak overseas economies such as China's manufacturing sector, which slowed down again last month. Gold is likely to come under bearish pressure in case the greenback capitalizes on rising yields. The benchmark 10-year US T-bond yield has maintained above the key 1.5% level despite weekly declines, but this could change with more economic instability expected soon. Technical View Gold dropped massively last Friday, but it is still in an uptrend. However, it is hard to say that the gold will break below the ascending trend line or continue its uptrend next week. As long as the gold price is above 1760.00, we must not think about selling gold, though retail sales printed positive last week. From the present rate, an initial resistance is identified at the $1780 price zone. Breaking above 1780 may open the door for the $1805/1807 price zone. To the upside, our final target is a $1730 price zone. On the other hand, breaking below the uptrend will be invalid. Gold's price breaking below $1760, our downside first target is $1750/1745. after breaking below $1745, our final target is the $1725/1720 price zone.
TVC:GOLD
by Gold_Trading_Expert
2
Gold Price Forecast: FOMC is major market mover for next week.Gold prices continued their downward trend on Friday, with XAU/USD trading down 1.87%. The sell-off takes price into a critical support pivot, and we're looking for possible inflection off this threshold in the days ahead, as there is an update from The Federal Reserve next week about interest rates that you need to know. Look back at my analysis, I had mention gold will drop, and that happened. Firstly, I collect fundamental data, and then I research the fundamental conditions of USD and Gold. Secondly, I use price action analysis for reading charts. Finally, I combined the fundamental and pure price action analysis. Fundamentals across different asset classes like precious metals where demand has been growing. Due primarily driven by new investors entering equity markets (which can lead people who want diversification away from risky assets) while also providing additional safety protection given recent political events abroad. What Happened Last Week? Last week one of the FED members delivered a hawkish statement. The U.S bonds also rose. If us bonds rise, the standard theory is gold will drop. Even, technically gold sucked below the descending trend line. These are some issues that happened last week. As a result, gold dropped. But they are not much important from my view that gold dropped last Thursday. The market is expecting a hawkish statement that will help in the next week. As a result, the market was priced in that issue. It is one of the biggest reasons that gold dropped. Next week's market mover data: September is a busy time for event risk. Next week will undoubtedly bring its fair share. The data releases are sure to see reduced importance as we wait with bated breath to hear what Fed Chair Jerome Powell has in store at his press conference on Wednesday morning. On Monday, September 20th, NAHB's House Index comes out. It gives insight into how our housing market is doing overall. On Tuesday morning brings two reports: Building permits report, which shows construction activity over time. Existing home sales report every week so you can see if there was any change when it came down. On Wednesday has Powell's press conference scheduled alongside more detail about what he plans on staying at The US Chicago Fed national activity index, weekly jobless claims figures, and the September Markit manufacturing PMI (flash) are all due on Thursday. On Friday this month, we have new home sales, which will be released by the Census Bureau as well. Federal Reserve Chair Powell is scheduled to deliver a speech at an event in New York City called "The Future of Work. Suppose the FED delivers a hawkish statement in the next week during FOMC. I think gold will test 1680/1685 very soon. So, during FOMC, there is a good chance to trade gold. Technical View: From the present rate, 1745/1750 is a strong support zone. If the market breaks below the 1750 zone, our next downward target is the 1725/1720 price zone. From the 1720/25 price zone, we may see a correction to the upside. But if FED delivers a powerful hawkish statement. The market may drop below the 1720 price zone. But I think that won't happen. The U.S. economy is not such strong that it will deliver very positive comments. So, don't expect much. Even some significant economic reports also came negative. However, if FED disappoints investors and delivers a dovish statement market may test the 1780 price zone again. Breaking above 1780 will open the door for the 1800.00 price zone. From the present condition and chart says, 1800/1810 is an extreme resistance. But in case if the market can break above 1810, there is no doubt that the market will test the 1830/1833 price zone again. At least for the next week. If not, something happens unexpectedly. I don't think the market will be able to break above 1830.
TVC:GOLD
by Gold_Trading_Expert
3
XAUUSD : WEEKLY TRADE PLAN Gold has risen in three weeks due to a weaker dollar. CPI data for the US was released on September 14th, and the earlier CPI data was 0.5 percent. We may see a sideways market in gold this week. I see a pullback around 1808 and 1800 as an opportunity to go long gold before the US CPI data is out. My trading strategy isn't intended to be used as a signal service. It's a process of gaining knowledge of market structure and improving my trading abilities. Like and subscribe and happy trading to all
OANDA:XAUUSDShort
by mytw0cents
GOLD Swing Trade Idea and SetupI usually use the AUD strength as a directional bias for Gold. I am anticipating price to be in replica on XAUUSD too. I am waiting for a rejection in the golden area of the Fibonacci. When all confluences line up, take short entries and target the -61 extension. Depending on price momentum, I may target the 1750 key area for Take Profit. *Disclaimer* This is not financial advice. Forex trading is a risky business. Exercise proper risk management. #TradeLikeMagnatrio
FOREXCOM:XAUUSDShort
by Magnatrio
Gold Analysis Ahead Of FOMC At the last FOMC, Gold prices end lower, then move up as the Fed signals no interest-rate hikes through 2022. During this period, FED didn't change its policy a lot. The pandemic has not finished yet, so it is hard to predict what will happen with the gold price. But, in the daily chart, the gold price has broken below the long-term trend line. So, technically market is bearish, there is no doubt. So, how long can it drop? I think as long as the pandemic is not going to over, gold won't drop much. 1680 is strong near-term support. Today is the FOMC, and FED hints for no bank rate changes history will repeat like last FOMC. Gold will drop first and then will up again. If the gold price breaks below the 1800/1795 price zone, the gold price may test the 1775 to 1770 price zone. If the FED is too hawkish more ever gold may test the 1750.00 price zone. On the other side, the weekly high is the 1815 price zone. Technically breaking above 1815, gold may move up to the 1840/1845 price zone. If the FED is to Dove final target to the upside is the 1875 price zone.
TVC:GOLD
by Gold_Trading_Expert
4
Gold - Potential selling opportunity setup Taking a look at the 1 Hour chart on Gold, it has gone through a sharp drop since breaking its record highs above the $2000 level. Currently now the price in Gold has pulled back higher from its sharp recent fall and is trading in an ascending channel. This Channel has completed a potential larger 3 drive bearish pattern in the process. Why we like this pattern is that it has convergences at the 3rd drive high which also lines up with the 61.8% Fibonacci retracement. This current high is starting to look like there is a bit of price exhaustion just below the $2000 level as well. What we want to see is price start to breakdown on our lower time frames and locate any smaller bearish price patterns in the process to help confirm a possible move lower. We have also drawn a lower trend line as this can also increase the probability for a move lower and expose a good point of execution if this trend line gets broken to the downside for a possible retest entry short. If the price in Gold starts to continue its rise and trades above the pattern and $2000 level no action needs to be taken.
OANDA:XAUUSDShort
by DavidVillagra
GOLD - A Multi Time-Frame AnalysisSince my last GOLD analysis there’s nothing new to tell, which is frustrating, because that triangle / pennant should be triggered a few days ago. Now, the impression GOLD gives us is that is moving sideways and will spoil the chart pattern without a real breakout. The link to my last GOLD analysis is below, and I invite you to follow me to keep updated about the market, I do daily analysis here and you are welcome to join our community. Now, the most favorable scenario would be an upward breakout, because the main target of this trade would coincide with a previous top on the monthly chart, which is around U$ 1.8k, take a look: On the other hand, if GOLD is going down, the bears will have a hard time passing through some supports , like the support zone 1 and 2 draw in the daily chart above. In my view, these are strong supports, but if the bears manage to pass through them, the price can sink back down to U$ 1.4k again. Also, let’s look the hourly chart: The “war zone” is an important point to notice, it was support and resistance multiple times in the past, but it seems the bears can’t stand holding the price under that zone for too long. In any case, GOLD would be a hard trade to do now, and a long trade would be better than a short trade because of the targets and the Risk/Reward ratio, so I desire for a bullish sign here. Remember to follow me, I’m a trader who uses the classic technical analysis (barely any indicator, just the candles and the volume). Like this idea if it helped. Thank you very much. * LIKE this idea and FOLLOW me, because: - Here, you will see clean charts; - Trades with clear risk management; - The best of Dow Theory, Price Action and Candlestick psychology; - Chart patterns with statistics. * * My name is Nathan, I'm a trader and portfolio manager and I'm here to LEARN. Leave your COMMENT and FOLLOW me to keep in touch. *
TVC:GOLD
by Nathan_The_Finance_Hydra
Low risk setupNote the respected 1512 level marked and how a candle pinned the level and the yellow bar I was waiting for price to reach. 1. Rejection candle 2. Second candle is an inside bar 3. Top bollinger pinned 4. Capped trend line holding Ideally the confirmation will be a breakout from the inside bar pattern to the down side, this is where I will look to open my short position. This setup offers excellent risk to reward ratio and the target can be provisional (reversal pattern on daily time frame). Don't invest what you can't afford to lose. This is not investment advice. Subjective view/report of a financial product only. You can learn price action trading at no cost. Join my mailing list to receive more information zc.vg DISCLAIMER All information published within this website is purely for educational purposes and offers no guarantees. Profit Fx, Forex Bootcamp and any of its associates cannot be held responsible for any trades that you have executed in any way whatsoever. Please familiarize yourself with the relevant risks involved when trading forex, CFD’s and other products. Any trading is done solely at your own risk. Profit Fx, Forex Bootcamp and any of its associates are in no way employed by any broker or any other legal entity. All information published within this website does not constitute advice, but rather objective information about a financial product and analysis or report of a financial product.
OANDA:XAUUSDShort
by Cmasterza
Gold short !We are expecting another bearish weekly candle. However if the trend change the direction and price goes above 1540 and 1550 next resistance then we can look for an entry point to buy. In both ways you should gain profit if you find the prime entry point and use the correct risk management. Hence , market is not your friend, lots going on specially global economical slowdown, reason why gold's price is high and it may goes above 1600 or even around 1800 in 12 months time. Just dont be greedy , slow but steady and focus on pips and percentages. Good luck. Enjoy drawing your charts and Have a fantastic week of trading ..
FX:XAUUSDShort
by Shourov_kk
Massive Explosion UP; Gold Cartel Tactics playing "Ping-Pong"Looks EXACTLY like the December 2015 / January 2016 action in gold. Massive imbalance in the COMEX COT readings along with Ping-Pong price action by the Gold Cartel aka Bullion Banks / Wall Street just prior to LIFT-OFF (i.e., shaking out of all of the weak shorts and weaker longs). Getting VERY LONG Gold Futures in anticipation for a move possibly up to $1400 by year end. Gold sentiment could not be any worse. Perfect time for MASSIVE SCRAMBLE to cover shorts by trading funds.
FX:XAUUSDLong
by kaotic363
7