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4/12 Gold will usher in a major opportunity today Today is a very important day for gold. The result of the interest rate discussion will determine whether gold returns to 1935 or runs to 2050 or even a new high.Before the results come out, technical analysis is relatively easy to use. At present, 2008 has broken through and completed the conversion from resistance to support. The support for 2015 is still in the testing stage, and Asian and European trading is mainly long at low levels.
FOREXCOM:XAUUSDLong
by EagleEyeStrategy
1
GOLD RALLY CONTINUESGOLD remains stable over 2000 USD mark, after reports that central banks are accumulating at fast pace from the precious metal. The biggest buyers of gold are the countries from BRICS, who are trying to go further away from US Dollar being their reserve currency. Both MACD and RSI indicators are currently confirming the trend, with MACD histogram being above 0 line and RSI way above the 50 neutral line. If the current trend continues, targets of 2120 USD can be expected. As pivot point might be considered 1935 USD, and if the price goes below it, it is possible further down movement to 1885 USD. Risk Disclosure: Trading Foreign Exchange (Forex) and Contracts of Difference (CFD's) carries a high level of risk. By registering and signing up, any client affirms their understanding of their own personal accountability for all transactions performed within their account and recognizes the risks associated with trading on such markets and on such sites. Furthermore, one understands that the company carries zero influence over transactions, markets, and trading signals, therefore, cannot be held liable nor guarantee any profits or losses.
OANDA:XAUUSDLong
by legacyFXofficial
Gold set to break resistance; $4878 possible this year? Gold is currently approaching its next Fibonacci resistance level of $2096. Once this level is convincingly broken, the next resistance levels will be $2272 and $2463. According to my Elliott wave analysis, gold has started its third impulsive wave, which is part of a higher degree third impulsive wave. These impulsive waves are typically the most explosive and long-lasting. Therefore, we can expect an exciting spectacle in the coming months. I do not rule out a short-term price target of $4878 within a year, as this price target is based on the 1.618 Fibonacci extension of the impulse wave 1 (Dec '15 - Aug '20). Lastly, the monthly chart shows a MACD crossover, which supports my bullish expectations. This typically indicates that the price of gold is expected to continue its upward trend.
TVC:GOLDLong
by joerivdpol
XAUUSD (GOLD) Daily: 27/03/2023: Short opportunity! Well, you can see the important supply and demand zones on the gold chart. Also, we define two zones as an optimal sell zone: 1- 1964.61- 1970.1 2- 1985.53- 2003.1 In that case, we can define targets as follows: 1945 1934 1914 1907 1902 💥Important note: it's not investment advice, so do your own research.💥 💡Wait for the update! 🗓️27/03/2023 🔎 DYOR 💌It is my honor to share your comments with me💌
OANDA:XAUUSDShort
by VahidTradingCR
5
A Profitable Gold Trading Strategy Gold has reached the TP line near 1986 today, and long positions around 1975 have gained a complete victory! Currently, the candlestick is oscillating near 1978, with a small support at 1974 below, followed by 1963. A simple breakthrough provides an opportunity for us to go long, but if the body falls below, the nature changes and the support becomes resistance, making it difficult for bulls to achieve higher targets. The area near 1974 is currently the key focus. As long as it doesn't break, the bulls remain in a strong position. If it quickly falls below, it also provides an opportunity for a rebound. In the case of a slow decline, it is difficult to quickly determine the direction. The short opportunity point is near 1994-2000, and the long opportunity point is near 1963-1966. Both positions provide highly profitable opportunities once reached. For the 1974-1986 range, as long as it doesn't break through unidirectionally, the trading strategy is still buying low and selling high. If you are trading gold, crude oil, bitcoin, and forex, please follow me and become my friend. I will provide you with the most suitable trading strategies from the most professional perspective!
FOREXCOM:XAUUSD
by EagleEyeStrategy
GOLD Prices Decline on First Citizens Bank's Acquisition of SVB The pace of the pullback in gold prices has intensified following the announcement that First Citizens Bank has acquired Silicon Valley Bank (SVB). The rise in US Treasury yields and reduced demand from India are adding further downward pressure on the price of gold. Despite the current uptrend, a double TOP formation is posing a threat with the neckline at a key level of $1,934. As of writing, XAU/USD is trading in the $1,950s, down by over 1.0% for the day. The ease in bank stress has lessened gold's safe-haven appeal, while rising US Treasury bond yields and a robust US dollar, along with reports of declining demand from India, have further exacerbated the decline in prices. The announcement of the acquisition of defunct lender Silicon Valley Bank by First Citizens Bancshares Inc, the holding company of North-Carolina-based First Citizens Bank, has brought temporary relief to the markets on March 27, reducing the demand for gold as a safe-haven asset. According to a press release from the FDIC, First Citizens has acquired all of SVB's $119B deposits and loans and has purchased $72B of its assets at a $16.5B discount. Although the deal has limited the damage caused by SVB's failure, it has not eliminated it entirely, with the bank's collapse estimated to have cost the FDIC $20B.
OANDA:XAUUSDLong
by FOREXN1
10
GOLD | Bearish TrendA double-top pattern is a technical chart pattern that occurs when a stock or asset reaches a high price twice and then reverses its trend. This pattern is formed when the price of an asset rises to a certain level, falls back, and then rallies back to the same level before falling back again. This creates two peaks on the chart that are approximately the same height. The double-top pattern is often seen as a bearish signal, as it suggests that the asset's upward momentum has stalled and may be poised to reverse. When the double top pattern is combined with a high volume breakout and a break of the trendline, it can be a particularly strong signal that the asset is likely to continue its downward trend. A high-volume breakout occurs when the price of an asset breaks through a significant level of resistance with a large amount of trading volume. This indicates that there is a significant amount of buying or selling pressure behind the move. A trendline is a line that connects the highs or lows of an asset's price over a period of time. When the price of an asset breaks through a trendline, it is often seen as a significant signal that the trend has changed. So, if a gold chart shows a double top pattern, along with a high volume breakout and a break of its trendline, it suggests that the upward trend in gold has stalled and that the asset is likely to continue its downward trend. Traders and investors may take this as a bearish signal and may look for opportunities to sell gold or short the asset.
TVC:GOLDShort
by awaisulabdeen
GOLD Prices Steady Amid Bank Takeover and Recession ConcernsThe price of gold is experiencing a steady pullback in the wake of First Citizens Bank's takeover of SVB. However, Minneapolis Fed President Neel Kashkari's comments about a possible recession caused by a banking crisis have tempered the relief felt by investors. While the price of gold is correcting, it is still too minor to be considered a reversal. As of the start of the week, XAU/USD is trading in the lower $1,970s, down from its high of just over $2,000 on Friday. Although the easing of bank stress may have lessened gold's safe-haven appeal, fears of wider contagion are still keeping the precious metal's price above a certain level. The market was temporarily soothed on March 27 when First Citizens Bancshares Inc, the holding company of North-Carolina based First Citizens Bank, purchased defunct lender Silicon Valley Bank (SVB). The takeover has led to a lessening of demand for safe-haven gold. According to a press release from the FDIC, First Citizens has taken over all of SVB's $119B deposits and loans, and has purchased $72B of its assets at a $16.5B discount. The deal limits the damage caused by SVB's failure, but it does not eliminate it. The bank's collapse is still believed to have cost the FDIC $20B. Despite the positive news about the takeover, policymakers remain concerned about the potential for more banking contagion to trigger a recession. Minneapolis Fed President Neel Kashkari said in an interview on the CBS show Face the Nation that "Recent stress in the banking sector and the possibility of a follow-on credit crunch brings the US closer to recession. It definitely brings us closer." He added that they were monitoring the situation very closely. Despite the concerns, the price of gold remains in an uptrend on a short to medium-term basis, making higher highs and lows on the daily chart. This supports bullish bets, as the old adage goes, "The trend is your friend until the bend at the end."
OANDA:XAUUSDLong
by FOREXN1
9
XAUUSD ForecastBased on the information provided, the gold price has been rallying due to fears of a global banking crisis, fueled by the Credit Suisse scandal. Although the situation has calmed down for now, the trust in banks has been severely damaged. There are two possible scenarios for gold price moving forward, with the bullish scenario represented by the blue line and the bearish scenario represented by the red line. Based on the information provided, it seems that the bullish scenario is more likely. One of the reasons for this is that despite hitting the significant sell-off area around $2000, we have not seen a significant pullback in the gold price. This suggests that buyers are still interested in gold and are willing to buy at these higher levels. Furthermore, the damage to trust in banks may continue to support the gold price as investors seek safe-haven assets. However, it is important to note that market conditions can change quickly, and the bearish scenario should not be discounted entirely. Traders should continue to monitor the gold price closely and look for signs of a reversal, particularly if the price starts to break below key support levels. In conclusion, the gold price has been rallying due to fears of a global banking crisis, and there are two possible scenarios for its future movement. While the bullish scenario seems more likely based on current market conditions, traders should be prepared for potential changes and adjust their trading strategies accordingly.
PEPPERSTONE:XAUUSD
by TradeConfirmed
Gold prices poised for upward trend: Key support levels to watch Gold dropped from around $2009 to the vicinity of $1935 in 2020, rebounded to around 1969, but failed to break through the level of 1988 and fell again. Therefore, from a technical perspective, 1988 can be considered as a resistance level, while 1969 can be seen as a support level. After rebounding to around 1986, gold fell back under pressure, found support at around 1975, but still failed to break through the resistance of 1988. Thus, 1988-1985 became a strong resistance zone. After 1988 became a strong resistance, bearish sentiment surfaced again, breaking through the support levels of 1975 and 1969, causing the gold price to fall to around 1961. However, the bearish force was very strong, and after a small probe, the gold price fell directly below, dropping to around 1935. This position is important as it is the starting point of the stage of the rise and the demand for technical rebound has been formed due to the significant decline in gold price. I have also mentioned this in my trading strategy. Subsequently, the banking incident fermented again, gold rose again with risk aversion, broke through the resistance level of the 1948 box and successfully broke through 1961 and 1969, converted from resistance level to support level, and rose again to break through the resistance level of 1975 and 1985, returning to the $2000. However, as the rebound process from 1969 to 2000 did not test the support level, the strength of the support level cannot be determined. From a technical perspective, this is not conducive to further upward trends. Therefore, I expect today's market to fluctuate to confirm the strength of these important support levels. Once confirmed, the next upward trend will break through the high point of 2009. In summary, today's trading strategy is mainly bullish, with reference to the important support levels of 1985, 1975, and 1969 as buying positions.
FXOPEN:XAUUSDLong
by EagleEyeStrategy