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XAUUSD : Gold will bounce back stronglyXAU/USD is moving sideways and trading around 2,322 USD/ounce. According to senior market analyst Jim Wyckoff of Kitco Metals, gold prices fluctuate when influenced by external factors due to a lack of important new fundamental news. In this context, Wyckoff predicts, prices will likely move sideways about 2,300 - 2,400 USD/ounce for the next important catalyst and he believes that these catalysts will not appear until July. World gold prices weakened in the context of some US Federal Reserve (Fed) officials predicting interest rate cuts in December this year. This causes US government bond interest rates to increase to nearly 4.3%, causing disadvantages for gold - a non-yielding asset.
OANDA:XAUUSD
by SantaTradeGold
keep calm XAUGOOD MORNING everyone for more info, check the signature space below 🔽 HERE WE ARE, Traders. I kindly ask you to leave a like below the image. if you want to continue receiving free analysis. It costs you very little, but it makes a huge difference for me. ^GOLD ANALYSIS^ The weekly close makes me think of a continuation long until the 2300 level is decently invalidated; the breakout happened, but it's not enough for me. On the daily level, I would expect a SMT (play) below the lows where I marked the chicken, and then look for an upward movement from there. We have two zones to keep under control. As you know, I only trade New York, so I don't trade until 14:00. Plus, we have news at 14:30. Monitor it, and we'll update live. Let me know what you think in the comments! Thank you very much, everyone. For any doubts or questions, don't hesitate to write to me; I will be happy to answer you. for more info, check the signature space below 🔽 -Have a good day -Happy trading -Use stops -Manage risk
OANDA:XAUUSD
by X_GoldenBoy_X
Interest rates are supported, Gold weakensGold increased for the second consecutive trading day, the gold price once reached 2,320 USD. The market will receive the Federal Reserve's interest rate decision and US CPI data, which is expected to explode the market. US CPI Data and Federal Reserve Decision Coming Soon. US May CPI data will be released a few hours before the Fed decision. If inflation stays stable, that could allow the dollar to start to gain traction first. Fed shows policymakers expect policy rate cuts by a total of 75 basis points in 2024. An upward revision is possible as most policymakers say that they are in no rush to start reducing borrowing costs. Today is a very important trading day because it is directional from big data such as CPI and FOMC events, first gold and dollar will be affected by CPI data and then FOMC. If CPI data is better, this will boost the US Dollar but then if the FOMC shows the prospect of a rate cut then this will boost gold prices. Up to now, after the NF data was announced, the gold market has formed a short-term downtrend. and the recovery to form the DOW model is taking place quite perfectly in the h4 time frame. The recovery could reach the 34 EMA or higher the 89 EMA of the h4 frame with two notable resistance levels at 2325 and 2338. The Fed is likely to keep interest rates unchanged in June after today's meeting so The dollar will be strongly supported at least in the next 2 months. The market's downtrend could take gold to 2387 or deeper than the 2376 support level. During trading periods with a lot of macro data and major events, sudden large price movements can completely disrupt any technical structure. At times when major events take place, technical analysis is no longer available, the market will depend on basic factors such as: Geopolitical developments, monetary policy, macro data. tissue,….
OANDA:XAUUSD
by TVS-Trader
rebounded strongly after reaching a level lower than 2300Gold for delivery closed down more than 20 USD on Thursday, fell below the 2,300 USD/ounce mark, and recovered slightly in the European session on Friday to 2,314. Despite weak US PPI, gold prices still fell sharply as the Federal Reserve forecasted only one interest rate cut this year. In addition, a stronger US Dollar also affects gold prices. The Federal Reserve on Wednesday kept interest rates steady despite improving inflation and forecast only one rate cut in 2024, due to Economic growth and the unemployment rate remain above what the Fed considers long-term sustainable levels. High interest rates increase the opportunity cost of holding gold, making it less attractive compared to other assets in the market, especially the dollar. Markets are still assessing the Fed's future monetary policy path. The Federal Reserve announced Wednesday that it would leave interest rates unchanged and signaled that there would be only one rate cut in 2024. In March, the Fed had expected three rate cuts in this year. Before Thursday's PPI data was released, the May Consumer Price Index (CPI) released by the US Department of Labor on Wednesday also showed that inflation had generally cooled, creating momentum for gold to surge. up 1% that day. However, after the Federal Reserve issued hawkish comments, spot gold prices reversed the basic trend. Technical analysis of gold price Gold has dropped significantly since reaching the key resistance area around $2,340 – $2,345 which is the confluence of the 0.618 Fibonacci retracement, the $2,345 horizontal resistance and the 21 EMA. Gold fell back to operating around the 2,305 - 2,300 USD area to maintain the main downtrend from the price channel. In the short term, the raw price level of $2,300 will be the closest support and if gold continues to break below this technical level it will open up the possibility of continuing towards the target at $2,286. Even if gold recovers, during the day it will still be limited by the $2,324 level, its technical direction will still lean to the downside. Support: 2305 - 2291 - 2286 - 2280- 2274 Resistance: 2316 - 2321 - 2325 - 2333 - 2338 SELL price range 2319 - 2321 stoploss 2325 BUY price range 2270 - 2268 stoploss 2264
OANDA:XAUUSD
by TVS-Trader
GOLD 1H CHART ROUTE MAP UPDATEHey Everyone, Great start to the week with our chart idea playing out as analysed. We were seeing price test 2332 weighted level and failed to lock above 2332 with ema5 confirming the rejection into the retracement range. The retracement level gave us the perfect bounce for a clean 40 pips, as part of our plans. We then had the 2322 weighted level cross and lock below with ema5 opening 2312, which was hit perfectly. We are now looking for a reaction on this level. Ema5 cross and lock below 2312 will open the swing range or failure to lock below will follow with another rejection bounce. We will keep the above in mind when taking buys from dips. Our updated levels and weighted levels will allow us to track the movement down and then catch bounces up. We will continue to buy dips using our support levels taking 30 to 40 pips. As stated before each of our level structures give 20 to 40 pip bounces, which is enough for a nice entry and exit. If you back test the levels we share every week in the past 24 months, you can see how effectively they were used to trade with or against short/mid term swings and trends. EMA5 CROSS AND LOCK ABOVE 2322 WILL OPEN THE FOLLOWING BULLISH TARGET 2343 2349 EMA5 CROSS AND LOCK ABOVE 2349 WILL OPEN THE FOLLOWING BULLISH TARGET 2367 BEARISH TARGETS 2322 - DONE EMA5 CROSS AND LOCK BELOW 2322 WILL OPEN THE FOLLOWING BEARISH TARGET 2312 - DONE EMA5 CROSS AND LOCK BELOW 2312 WILL OPEN THE SWING RANGE SWING RANGE 2302 - 2294 As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Please don't forget to like, comment and follow to support us, we really appreciate it! Mr Gold GoldViewFX
OANDA:XAUUSD
by Goldviewfx
18
THE KOG REPORTKOG REPORT: In last week’s KOG Report we said we wanted the lower support level to hold up the price to give us the opportunity to long into the order region above, which gave us a fantastic start to the week. We then said we wanted to short from the order region back down, but due to FOMC and CPI we would be looking for extreme levels above. Once price re-entered our order region we did continue with the plan but the range and accumulation meant we couldn’t complete the move down that we wanted, however, still getting a decent trade down. So, what can we expect in the week ahead? Simple one this week! We have potential to start the week with short movement within the range we have plotted on the chart. The resistance level above sits at 2345-50 which needs to hold the price down for us to see a further move downside into the lower support region below, and potentially complete our plan from last week’s KOG Report. Support 2320 is the hurdle this week and needs to be broken forcefully for us to then have more confidence in the move. The problem we have this week again is this sideways range, and for that reason we’re going to throw a curveball into the mix, which we need traders to be extremely careful of. IF that resistance level above breaks, and we bounce aggressively from below, there is a huge chance we’re going to see this attempt to take liquidity from the higher regions 2370-5 which is a key level for this week and also the extension of the move. So please, traders make sure to stick with your risk model, we’ll trade it the KOG way, level to level, stay the right side of it and expect some extreme movement. KOG's Bias for the week: Bearish below 2345 with targets below 2320 and below that 2295 Bullish on break of 2345 with targets above 2355 and above that 2370 As above, it’s a short one this week, we’ll update it as we usually do during the course of the week. Please do support us by hitting the like button, leaving a comment, and giving us a follow. We’ve been doing this for a long time now providing traders with in-depth free analysis on Gold, so your likes and comments are very much appreciated. As always, trade safe. KOG
FX:XAUUSD
by KnightsofGold
12
XAUUSD : Gold will turn up again this weekXAU/USD is trading around 2,322 USD/ounce, down 11.6 USD/ounce compared to last week's result. Adrian Day, of Adrian Day Asset Management, said gold prices are recovering after last week's sell-off amid dovish US economic news, weak inflation figures and higher unemployment claims, both support cuts interest rate. Colin Cieszynski, market strategist at SIA Wealth Management, said gold prices are poised for a technical bounce from support levels. Darin Newsom, senior market analyst at Barchart, said gold's next target is $2,370/ounce, followed by resistance at $2,391/ounce.
OANDA:XAUUSD
by SantaTradeGold
Gold will increase this week ? Wall Street analysts expressed optimism. Specifically, expectations are up 62%, down 15% and flat 23%. In addition, according to Kitco's online survey, it is predicted that gold price will increase by 54%, decrease by 23%, and move sideways by 23%. Marc Chandler, General Director of Bannockburn Global Forex, said gold prices increased, breaking a 3-week losing streak, in the context of political instability in Europe and sharply falling interest rates. Gold prices recovered after the US jobs report and the Central Bank of China did not buy gold reserves. Adrian Day, Chairman of Adrian Day Asset Management, said gold prices are recovering after last week's selling amid more balanced US economic news, weak inflation data and high unemployment claims. more , both are supported for interest rate cuts. Colin Cieszynski, market strategist at SIA Wealth Management, said gold prices are now poised for a technical bounce from support. 💵 OANDA:XAUUSD SELL 2353 - 2356💵 ✔️ TP 2343 ✔️ TP 2333 ❌ SL 2363 💵 OANDA:XAUUSD BUY 2314 - 2317💵 ✔️ TP 2330 ✔️ TP 2345 ❌ SL 2308
OANDA:XAUUSD
by MrTrongVo
GOLD 1H CHART ROUTE MAP & TRADING PLAN FOR THE WEEKHey Everyone, Please see our updated 1h chart levels and targets for the coming week. We are seeing price test 2332 weighted level and we will need to see ema5 cross and lock above 2332 to open the range above to test 2343 and 2349. Rejection here will see price fall back into the retracement range 2322 - 2312 and a further test and break below 2312 will open the swing range We will keep the above in mind when taking buys from dips. Our updated levels and weighted levels will allow us to track the movement down and then catch bounces up. We will continue to buy dips using our support levels taking 30 to 40 pips. As stated before each of our level structures give 20 to 40 pip bounces, which is enough for a nice entry and exit. If you back test the levels we share every week in the past 24 months, you can see how effectively they were used to trade with or against short/mid term swings and trends. EMA5 CROSS AND LOCK ABOVE 2322 WILL OPEN THE FOLLOWING BULLISH TARGET 2343 2349 EMA5 CROSS AND LOCK ABOVE 2349 WILL OPEN THE FOLLOWING BULLISH TARGET 2367 BEARISH TARGETS 2322 EMA5 CROSS AND LOCK BELOW 2322 WILL OPEN THE FOLLOWING BEARISH TARGET 2312 EMA5 CROSS AND LOCK BELOW 2312 WILL OPEN THE SWING RANGE SWING RANGE 2302 - 2294 As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Please don't forget to like, comment and follow to support us, we really appreciate it! Mr Gold GoldViewFX
OANDA:XAUUSD
by Goldviewfx
15
GOLD 4H CHART ROUTE MAP FOR THE WEEK AHEADHey Everyone, Please see our updated 4h chart levels and targets for the coming week. We are seeing price play between two weighted levels 2336 resistance and 2307 Goldturn support. We will need to see a test and lock on either levels to open the next range. We will need to see ema5 lock above 2336 to open the range above or a rejection before this will follow to find support at the retracement range. A further cross and lock below 2307 will open the swing range. We will keep the above in mind when taking buys from dips. Our updated levels and weighted levels will allow us to track the movement down and then catch bounces up. We will continue to buy dips using our support levels taking 30 to 40 pips. As stated before each of our level structures give 20 to 40 pip bounces, which is enough for a nice entry and exit. If you back test the levels we share every week in the past 24 months, you can see how effectively they were used to trade with or against short/mid term swings and trends. BULLISH TARGETS 2336 EMA5 CROSS AND LOCK ABOVE 2336 WILL OPEN THE FOLLOWING BULLISH TARGET 2356 BEARISH TARGETS 2307 EMA5 CROSS AND LOCK BELOW 2307 WILL OPEN THE SWING RANGE SWING RANGE 2290 - 2275 As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Please don't forget to like, comment and follow to support us, we really appreciate it! Mr Gold GoldViewFX
OANDA:XAUUSD
by Goldviewfx
2
GOLD DAILY CHART UPDATEHey Everyone, Please see our updated daily chart structure. Last week we were seeing price test support at 2309 with a candle break below opening gap to 2259 and we confirmed we would need to see ema5 to lock below 2309 to further confirm this gap otherwise a failure to lock below will follow with a reactional bounce here to 2355. - This played out perfectly with ema5 failing to cross below 2309, which followed with the rejection and gave the perfect bounce and now heading towards the 2355 open gap. We were able to catch majority of the bounce using our smaller time frame analysis last week We are likely to see play between both these levels until we see ema6 lock above or below either lever to open the next range. We have marked the charts with the weighted levels and will use them to track the movement up and down confirmed with ema5 cross and lock confirmation. We will use our smaller timeframe analysis and trading plans to navigate the range in true level to level fashion. Our long term bias is Bullish and therefore we will continue to use our smaller timeframes to buy dips using our algo generated levels and setups. Buying dips allows us to safely manage any swings rather then chasing the bull from the top Please don't forget to like, comment and follow to support us, we really appreciate it! MR GOLD XAUUSD TOP AUTHOR
OANDA:XAUUSD
by Goldviewfx
2
GOLD WEEKLY CHART MID/LONG TERM/RANGE ROUTE MAPHey Everyone, After tracking and trading our last weekly chart idea successfully over the last few months, we have decided to now update the chart with new levels and re-align the ascending channel. Although we saw price break out of this channel ema5 has created the true channel top resistance here. Price is now heading towards the channel half line and found support above 2310 Goldturn. Although we have a close below 2310, ema5 remains above 2310 providing the support with a bounce heading towards 2356 for a test. The channel half line is a crucial level of support on this chart and as long as ema5 remains above the channel half line, we should be able to continue to buy dips. A break and lock below the channel half line will open the range test for the channel bottom. The levels within the channel will provide the bounces inline with our plans to buy dips in true level to level fashion using our smaller time-frames. Buying dips allows us to safely manage any swings instead of chasing the bull from the top. Please don't forget to like, comment and follow to support us, we really appreciate it! MR GOLD XAUUSD TOP AUTHOR
OANDA:XAUUSD
by Goldviewfx
5
Attention price range before FOMCGold dropped from peak to 2,340 USD before Fed information After CPI rose to a three-day high past the $2,340/troy ounce mark, gold prices now appear to have digested that initial move and returned some gains amid a weaker dollar and Yields fell ahead of the FOMC event later in the session. The 2340 level is unlikely to hold before the FOMC. The 2352 resistance zone will be better for you if you want to SELL gold. Today it is predicted that the FOMC will continue to support the dollar, so the possibility of gold falling will be very high. Scalp support may be around the old bottom of 2390
OANDA:XAUUSD
by TVS-Trader