GOLD:BUY From Accumulation Pattern Waiting For US News LONG Same vision today for the GOLD that, like the EUR/USD still in a solid bullish rally. Yesterday the price reached our target and today the value of the Gold, as for the EUR/USD it's inside an accumulation pattern waiting for the US release of economic news. If you are reading my post about USD/JPY where I explain my Daily Market Analysis you will know that the uncertain condition of the US economy today can impact the markets correlated with USD in a negative view. That's our point of view in general. We are looking for a new Bullish impulse here.
Xau-usd
XAUUSD Potential for Bullish Continuation | 2nd December 2022Looking at the H4 chart, my overall bias for XAUUSD is bullish due to the current price being above the Ichimoku cloud , indicating a bullish market. Looking for a buy entry at 1786.545, where the previous high is. Stop loss will be at 1739.675, where the previous swing low and 61.8% Fibonacci line is. Take profit will be at 1869.750, where the previous swing high and 127.2% Fibonacci extension line is.
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Gold continues to gain as the DXY dropsAs the DXY continued to weaken, Gold saw the most benefit as the price climbed steadily to the upside, reaching a high of 1800 which was previously tested in August.
Further upside can be anticipated with the price expected to break above the round number resistance of 1800.
Be aware of higher volatility with the rice expected to continue climbing toward the 1875 key resistance level as the DXY continues to weaken.
XAUUSD Potential for Bullish Continuation | 1st December 2022Looking at the H4 chart, my overall bias for XAUUSD is bullish due to the current price being above the Ichimoku cloud, indicating a bullish market. Looking for a buy entry at 1765.050, where the 78.6% Fibonacci line is. Stop loss will be at 1739.675, where the previous swing low is. Take profit will be at 1807.960, where the previous swing high is.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary, and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interest arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed on the website.
XAUUSD D1: Bearish outlook seen, potential reversal below 1806.2On the Daily time frame, prices are approaching the resistance zone at 1806.20, in line with the graphical support-turned-resistance level and 38.2% Fibonacci retracement. A pullback to the resistance zone at 1806.20 presents an opportunity to play the drop to the next support target at 1727.80 which coincides with the graphical support zone and Fibonacci confluence levels. Stochastic is testing resistance supporting the bearish bias.
XAUUSD Potential for Bearish Drop| 30th November 2022Looking at the H4 chart, my overall bias for XAUUSD is bearish due to the current price being below the Ichimoku cloud, indicating a bearish market. Looking for a sell entry at 1765.050, where the 78.6% Fibonacci line is. Stop loss will be placed at 1786.545, where the previous high is. Take profit will be at 1727.850, where the previous low is.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary, and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interest arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed on the website.
XAUUSD Potential Forecast | 29th November 2022Hi everyone, today I will be talking about a possible XAUUSD short trade using Smart Money Concepts.
Trade Idea
1) Price tapped into the HTF supply zone and respected
2) Price cleared liquidity above and instantly made a strong bearish push down
3) Plenty of imbalance and market inefficiencies present below for price to mitigate
4) A lower low formed
Things to look out for GOLD
- Demand zone below is still being respected, till then, price can continue bullish.
- A best case scenario is for the demand zone below to be invalidated.
Gold consolidates with breakout potentialGold traded with little volatility despite the overnight fluctuation of the DXY, with the price maintaining around the 1750 price level.
Look for a potential breakout on Gold, if the price is able to trade above the 1760 level, with the next key resistance level at 1785.
However, for Gold to trade sustainably higher, it is anticipated that the DXY would have to weaken back down to the 105.40 price level.
Gold Daily Analysis 29.11.2022Gold is in a sideways trend. Gold is testing the upper and lower boundaries of the value zone between 1730 to 1767.
Considering the uncertainity in trend I think Gold may make a Double top by testing the 1767 level today. Then we may know about the real trend
For now go for buying near support at 1730-1740 and sell near 1760-1770
BUY 1740 SL 1730 TP 1760
SELL 1767 SL 1777 TP 1748
XAUUSD Potential for Bullish Continuation | 29th November 2022On the 4-hour chart, the price has broken through the descending channel and is now above the ichimoku cloud , indicating a bullish bias. Price has reached my buy entry point at 1727.850, which is also the 61.8% Fibonacci line. Stop loss will be set at 1704.376, just above the 50% Fibonacci line. The take profit level will be 1765.050, which is the 78.6% Fibonacci line.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary, and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interest arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed on the website.
XAUUSD Potential Forecast | 23rd November 2022Hi everyone, today I will be talking about a possible XAUUSD short trade using Smart Money Concepts.
Trade Idea
1. Price just swept the current lows of GOLD and instantly rejected it
2. Entire bearish leg thus far has been slow and without volume
3. Liquidity has been building at the upside
4. This bearish leg could potentially be a retracement for price to continue bullish on higher timeframe.
I anticipate for price to retrace and continue its bullish momentum up to retest the highs above.
Things to look out for:
- Area of demand below that price can always tap into, do keep that in mind.
Trade safe guys.
Regards,
Chern Yu
XAUUSD Potential for Bullish Continuation | 28th November 2022On the 4-hour chart, the price has broken through the descending channel and is now above the ichimoku cloud , indicating a bullish bias. Price has reached my buy entry point at 1727.850, which is also the 61.8% Fibonacci line. Stop loss will be set at 1704.376, just above the 50% Fibonacci line. The take profit level will be 1765.050, which is the 78.6% Fibonacci line.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary, and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interest arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed on the website.
XAUUSD 4hour Analysis November 27th, 2022Gold Neutral idea
Weekly Trend: Bullish
Daily Trend: Bullish
4Hour Trend: Bullish
Trade scenario 1: We are overall bullish but we are overextended and could be due for a large retracement.
Ideally, price action rejects our 1750.00 area and starts heading lower. Look for 1hour lower highs to short the retracement down to 1675.00.
Trade scenario 2: For us to see gold as more bullish we would need to rally now and break 1750.00 first.
XAUUSD Potential for Bullish Continuation | 25th November 2022On the 4-hour chart, the price has broken through the descending channel and is now above the ichimoku cloud, indicating a bullish bias. Price has reached my buy entry point at 1727.850, which is also the 61.8% Fibonacci line. Stop loss will be set at 1704.376, just above the 50% Fibonacci line. The take profit level will be 1765.050, which is the 78.6% Fibonacci line.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary, and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interest arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed on the website.