GOLD HAS BROKEN MANY SUPPORT 🥇 Gold has broken many support levels such as 2640-2630 to extend the decline this morning. In today's Asian session, watch for the recovery to continue to sell gold, aiming for the support zone of 2607-2600.
Gold has broken the triangle pattern around 2638 - And if the H4 candle closes below 2620, it will break the neckline of the head and shoulders pattern
🛫Therefore, watch for the recovery to continue to sell gold.
GOLD/AUD
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Scenario GOLD levels update This view of gold actually somehow confirms that I should be on the good side of the market, outside of the original analysis, we could see a false breakout from which the price consolidated around the zone marked by me, which may show us a head-and-shoulders formation, which may be followed by a correction against this formation
Gold (xauusd) analysis 1. Price Levels:
- Current Gold Price: 2040
- Expected New Higher High: 2180-2193
- Resistance Levels: 2124-2115
- Stop Loss (SL): 2011
2. Bullish Sentiment:
- Gold is described as "very strong bullish," indicating a positive outlook on its price movement.
3. Technical Analysis:
- Demand Zone: 2180-2193 is identified as a demand zone, suggesting potential buying interest in that price range.
- Resistance Levels: 2124-2115 are noted as resistance levels, indicating areas where selling pressure may increase.
- Stop Loss (SL): 2111 is suggested as a stop-loss level, indicating a point at which traders may consider exiting their positions to limit potential losses.
4. Market Outlook:
- The overall analysis suggests a bullish stance on gold, with expectations of continued upward movement towards new higher highs.
5. Risk Management:
- The inclusion of a stop-loss level (2111) emphasizes the importance of risk management in trading, ensuring that potential losses are limited in case the market moves against the expected direction.
GOLD STRONG BUY , short term correction coming soon#Gold STRONG BUY
100% Buy with a Strongest short term outlook on maintaining the current direction.
Long term indicators fully support a continuation of the trend.
The market is approaching overbought territory. Be watchful of a trend reversal.
The dollar index (DXY00) on Friday fell by -0.16%. The dollar on Friday gave up an early advance and posted moderate losses. A sharp rally in stocks Friday curbed liquidity demand for the dollar. Also, strength in GBP/USD Friday weighed on the dollar after the British pound rallied to an 11-month high. The dollar Friday initially moved higher as the better-than-expected U.S. Apr payroll report may prompt the Fed to keep interest rates higher for longer.
For long-term analysis and investment purposes I like to use cash indexes as it takes futures spreads and rolling out of the equation. The monthly chart of the cash index (GCY00) I track for gold is showing an interesting pattern, hitting a high of $2,070.48 during August 2020 then another high of $2,065.89 during March 2022 .If we consider this a double-top, then the break below the interim low $1,677.64 from March 2021 completed the bearish pattern indicating the long-term trend has turned down. However, this doesn’t fit the narrative of expected lower interest rates, stronger Treasuries, and a weaker US dollar. That puts the spotlight on the latest rally that had the index posting an early May high of $2,059.31, within sight of its previous marks.
GOLD esting resistanceThe gold price is showing quiet negative trading, gradually moving away from the 1963 level, reinforcing expectations of the continuation of the downward trend during the coming sessions, with its next target at 1943, stimulated by the negativity of the Stochastic indicator, which is clearly visible now, with a reminder that the continuation of the downward wave depends on stability below the 1963 and 1981 levels.
Pivot Price: 1963
Resistance prices: 1981 & 1998 & 2017
Support prices: 1943 & 1931 & 1912
The general trend expected for today: bearish
timeframe: 4H
XAUUSD D1 - Long SignalXAUUSD D1
As previously highlighted in our analysis posts, with the recent weakening of the US dollar, we anticipate upward momentum for ***USD. While a brief dollar relief rally is plausible, all signs currently point to an upward trajectory for XAUUSD. Our analysis combines both technical and fundamental/risk assessments. We are on the lookout for an opportunity to enter the market during a potential pullback, with price targets set at $2,000, $2,015, and ultimately $2,050 per ounce.
Gold 4H price is on a sideways pathThe price of gold has been fluctuating sideways in the past sessions, stable around the moving average of 50, noting that the stochastic indicator is losing its positive momentum noticeably, waiting to stimulate the price to resume the expected negative trading in the immediate term, which aims to test the 1964 level initially.
Therefore, the downward trend will remain expected for the coming period, keeping in mind that the breach of 1996 will stop the expected decline and lead the price to attempt to restore the main upward trend.
Pivot Price: 1983
Resistance prices: 1996 & 2010 & 2022
Support prices: 1964 & 1947 & 1933
The general trend expected for today is bearish
Gold up from here! Its gonna be the big oneYou can see very clearly why gold will break into its mew price territory. I used my own method of triangulation that has proven to be fairly accurate up to most of the time. I think that gold will become very expensive and soon become 5000 dollars but not before it bounces off of 3000 first then back up to test ath. 5000 next move take pay. Wave 2 8500 expected march 2023. Like and follow
GOLD 4H maintains its positive stabilityHello traders, The price of gold fluctuates near the support of the ascending channel. It receives continuous positive support from the moving average of 50, which supports the chances of continuing the rise within this channel and heading towards achieving our positive goals that started in 1996 and extended to 2010.
In general, we will continue to favor the upward trend for today unless the 1983 level is broken and holds a daily close below it.
Pivot Price: 1983
Resistance Price: 1996 & 2010 & 2022
Support price: 1964 & 1947 & 1933
The general trend expected for today is bullish
timeframe: 4H
GOLD 4H within a positive patternHello traders, The recent gold price trades are confined within a descending secondary channel, which we believe constitutes a bullish continuation flag pattern, as shown in the chart,The price of gold continues to fluctuate around the 1963 level, and faces some negative pressure to move below it now, which requires attention in the upcoming trading, as consolidation below this level will stop the positive scenario and place the price under negative pressure, mainly targeting the 1951 areas.
We point out that the price needs to rise above 1963 to reinforce the positive expectations, the next main target of which is 1981.
Pivot Price: 1963
Resistance Price: 1981 & 1996 & 2010
Support price: 1951 & 1938 & 1925
The general trend expected for today: bullish
timeframe: 4H
GOLD 4H Midday update Hello traders,The price of gold continues to fluctuate around the 1963 level, and faces some negative pressure to move below it now, which requires attention in the upcoming trading, as consolidation below this level will stop the positive scenario and place the price under negative pressure, mainly targeting the 1951 areas.
We point out that the price needs to rise above 1963 to reinforce the positive expectations, the next main target of which is 1981.
Pivot Price: 1963
Resistance Price: 1981 & 1996 & 2010
Support price: 1951 & 1938 & 1925
The general trend expected for today: bullish
timeframe: 4H
GOLD 4H Midday update The gold price is showing positive trading and is trying to confirm crossing the 1977 level, reinforcing expectations of a continuation of the upward trend during the coming sessions, paving the way for heading towards our main awaited target at 1991
Therefore, the bullish trend scenario will remain valid and effective for today, supported by the positive signal provided by the Stochastic indicator, recalling the importance of consolidation above 1977 for the continuation of the expected rise.
The general trend expected for today: bullish
Pivot Price: 1977
Resistance Price: 1991 & 2009 & 2024
Support price: 1957 & 1943 & 1929
timeframe: 4H
GOLD 4H price achieves the extended targetHello everyone, The price of gold rose strongly yesterday to succeed in achieving our expected target of 1985. We notice that the price begins today with more positivity to try to penetrate this level, which leads the price to achieve more expected gains during the coming sessions, paving the way for heading towards the levels of 1991 and then 2009 as stations—next main.
Moving average 50 continues to support the proposed bullish wave, taking into account that failure to consolidate above 1977.25 will stop the expected rise and put pressure on the price to turn lower.
Pivot Price: 1977
Resistance Price: 1991 & 2009 & 2024
Support price: 1957 & 1943 & 1929
timeframe: 4H
Gold price reaches the target The price of gold opens today's trading with a strong rise to reach the expected target at 1952, and the way appears open to exceeding this level and achieving additional gains up to 1961 in the near term.
Therefore, the upward trend scenario will remain likely for the coming period, supported by the 50 moving average, which continues to carry the price from below, taking into account that failure to breach 1940 will put pressure on the price to bounce downwards and head to test the 1932 areas again.
Pivot Price:1940
Resistance Price: 1952 & 1961 & 1972
support price: 1932 & 1923 & 1913
timeframe: 4H
GOLD new week Bullish hello everyone, The gold price is facing noticeable negative pressure to attack the 1913.15 level, which requires attention in the upcoming trading, as continuing the decline and confirming the break of this level will stop the positive scenario suggested in the morning and put the price under negative pressure during the coming sessions, while the price needs to consolidate above 1913.15 to resume the bullish wave that is present. Its next major target is at 1945.20.
The general trend expected for today is bullish
GOLD 4H try to down GOLD for the next week will trade at the bearish zone
reminding you that, consolidation under 1873 is important to achieve the suggested targets as breaching it will push the price to build a bearish wave to reach 1860 , 1850 , and 1838
As for renewing bullish attempts, consolidation above 1873 will support the price to rise up again and recover its positive momentum to retest again to 1886 , 1896 , and 1911
Support line: 1860 , 1850 , 1838
Resistance line: 1886 , 1896 , 1911
The general trend expected for today: Bearish
The expected trading range for today is between support 1850 and Resistance 1886
GOLD 4H OUTLOOK GOLD
reminding you that, consolidation under 1893 is important to achieve the suggested targets as breaching it will push the price to build a bearish wave to reach 1885 , 1880 , and 1875
As for renewing bullish attempts, consolidation above 1893 will support the price to rise up again and recover its positive momentum to retest again to 1903 , 1911 , and 1923
Support line: 1910, 1902 , 1875
Resistance line: 1903 , 1911 , 1923
GOLD 4H (Pivot Price: 1922 )GOLD
if it is below 1922 the direction downwards going until it reaches 1917 and 1912 then 1905
if it falls above 1926 the direction is going to touch 1932 again and 1938
Pivot Price: 1922
Resistance Price: 1932 & 1938 & 1944
Support price: 1917 & 1912 & 1905
timeframe: 4H
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