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GOLD: FUNDAMENTALS+TECHNICAL ANALYSIS | SHORT SETUP 🔔 Gold price remains choppy within a familiar range amid mixed market sentiment. The West mulls additional punishments on Russia, US Treasury yields head south. Gold price remains stuck between two key daily averages, Fed minutes eyed for a fresh direction. Gold price defied the bullish odds and rebounded from multi-day troughs of $1,916, as the worsening Russia-Ukraine crisis and yield curve inversion infused safe-haven flows into the bright metal. Tensions surrounding the Russia-Ukraine war heightened after the US and European Union (EU) considered additional sanctions and penalties against Russia’s atrocities on innocent Ukrainian civilians. Russia, however, has denied allegations of war crimes. Investors remained on the edge while scurrying for safety in gold price, despite the US dollar’s strength. Adding to it, the US two-year Treasury yields climbed to their highest level since early-2019 while 10-year yields ticked lower, leading to the inversion of the yield curve, which usually hints at an incoming recession. Gold bulls, therefore, benefited even as Wall Street advanced on a tech stock rally. The Nasdaq and S&P 500 indices were boosted by mega-caps and a 20% jump in Twitter's shares. Gold price has tuned south once again on Tuesday, as the US dollar holds the higher ground while the yields seem to stabilize. The market mood remains mixed, with the Asian indices tracking Wall Street higher, although thin trading and Ukraine concerns keep investors on the back foot. Oil prices are firming up amid the specter of fresh sanctions on Russia, stoking inflation and growth fears. Attention now turns towards the US ISM and S&P Global Services PMIs, the UN Security Council meeting on Ukraine and the inverted Treasury yields curve for fresh impetus on gold price action. The Fed minutes this Wednesday, however, will be the key event risk, which will provide fresh insights on whether the world’s most powerful central bank will deliver a series of aggressive rate hikes to quell raging inflation.
OANDA:XAUUSDShort
by FOREXN1
3
GOLD Forecast: XAU/USD | Corrective Scenario Pullback | SHORT ⭐️Modest recovery in the risk sentiment prompted some profit-taking around gold on Wednesday. The worsening situation in Ukraine, stagflation fears should limit any meaningful corrective slide. Softer USD/US bond yields should further lend some support to the dollar-denominated metal. Gold edged lower through the early European session on Wednesday and was last seen hovering near the lower boundary of its intraday trading range, just below the $2,040 level. A goodish recovery in the equity markets turned out to be a key factor that prompted some profit-taking around the safe-haven XAU/USD. The risk sentiment stabilized a bit amid hopes for a positive outcome from the meeting between Russian and Ukrainian foreign ministers in Turkey on Thursday. The optimism, however, is likely to remain capped amid the risk of a further escalation in the tensions between Russian and Western powers. In fact, US President Joe Biden on Tuesday imposed an immediate ban on Russian oil and other energy imports. The move was matched by Britain, announcing that it would phase out the import of Russian oil by the end of 2022. The Russian foreign ministry reportedly said on Wednesday that the response to the Western sanctions will be sensitive and precise. This, along with the recent monster gains in commodity prices that followed Russia's invasion of Ukraine, fueled fears about a major inflationary shock in the global economy. This should further act as a tailwind for gold, which has a proven historical ability to act as a hedge against inflation. Apart from this, modest US dollar weakness and softer US Treasury bond yields could also lend some support to the dollar-denominated gold. Hence, it will be prudent to wait for strong follow-through selling before confirming that the XAU/USD has topped out and positioning for any meaningful corrective pullback. Nevertheless, the metal, for now, seems to have snapped four successive days of the winning streak to the highest level since August 2020 and remains at the mercy of developments surrounding the Russia-Ukraine saga.
OANDA:XAUUSDShort
by FOREXN1
⭐GOLD/ORO - XAU/USD - 4h - Análisis SemanalAfter last week's great analysis, let's go for this one. We must be careful with Gold , always risk 0.5% of capital, our sell zone is 1802-1790 with SL at 0.58% (1855) of capital (Max Stoploss 1% at 1813), TP1 0.84% at (1780), TP2 1.91% at (1760) and TP3 2.70% at (1746). Traders, if you like this idea or have your own opinion about it, write in the comments. Patience, Discipline and Good Trade! KISS: Keep It Simple Stupid. LCCJ ........................................................ Después del gran análisis de la semana pasada, vamos a por este. Hay que tener cuidado con el Oro , siempre arriesgar un 0,5% del capital, nuestra zona de venta es 1802-1790 con SL en 0.58% (1855) del capital (Max Stoploss 1% en 1813) y TP1 0.84% en (1780), TP2 1.91% en (1760) y TP3 2.70% en (1746). Traders, si os gusta esta idea o tenéis vuestra propia opinión al respecto, escribid en los comentarios. Paciencia, Disciplina y Buen Trade! Manténgalo simple y estúpido. LCCJ
FOREXCOM:XAUUSDShort
by LCCJ
2
Gold November 2021 ProjectionGold price is approaching a major resistance area (in blue) which has been tested at least three times since July of the present year. If trespassed, a possible XABCD Butterfly sell pattern could be completed and may continue to a 1.272 or 1.618 extension (CD leg) before making a major reversal. If this resistance is not trespassed, reversal or correction could take place near this area instead. El precio del oro esta por alcanzar un importante area de resistencia (en azul) que a sido probada al menos tres veces desde julio de este año. Si rompe esta resistencia, un posible patron de venta mariposa XABCD podría completarse y continuar hasta los niveles expansivos de 1.272 o 1.618 (segmento CD) antes de hacer su posible reversa. Si no rompe, la reversa o corrección pueden ocurrir en este nivel en su lugar.
FX:XAUUSD
by esebastiangzz9
1