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Gold Update: Gold Reaches a Crucial ZoneGold has reached a significant price zone, capturing the attention of both traders and investors. Retail traders are leaning toward short positions, yet the price continues to spike higher, hitting new highs almost weekly. After several weeks of fluctuations, gold now sits at a critical inflection point. Below are the key resistance and support levels to watch: Resistance Levels: R1: 2718 R2: 2730 R3: 2760 R4: 2781 Support Levels: COG : 2651 S1: 2698-2685 S2: 2665 S3: 2635 S4: 2618 What’s Next for Gold? While gold is currently in a bullish trend, the 2700-2730 range presents a strong psychological resistance. I anticipate some downside correction before the bullish momentum resumes, with a potential pullback toward the 2635-2618 zone. Conclusion Gold is at a crucial juncture, and these resistance and support levels will likely dictate the near-term price action. A correction from the 2700-2730 range could set the stage for higher prices, assuming support holds. Share your thoughts in the comments, and don’t forget to boost this post if you agree with my analysis.
OANDA:XAUUSD
by Gravity-Traders-Academy
GOLD H4 RE-ACCUMULATION FINAL TP 3 000 USD🔸Hello guys, today let's review 4HOUR price chart for gold. Ongoing -RE-accumulation in progress, strong chart overall, BULLS maintaint control. Accumulation not complete yet, so we are not ready to hit 2750/3000 yet. 🔸Key s/r zones defined at 2250 usd / 2500 usd / 2750 usd / 3000 usd. So this a list of the key s/r zones in play right now, we are trading well above strong s/r zone at 2500 usd so currently limited downside. 🔸Previously gold accumulated ins 2300/2450 usd range before finally breaking the 2500 usd psyuchological resistance level. Currently 2500 usd flipped from resistance to support, therefore bulls maintain strategic advantage overall. 🔸new re-accumulation zone bulls 2565 / 2685 usd. 🔸Recommended strategy position traders: BULLS should wait for re-accumulation to complete and buy low near 2565 usd. initial TP is 2750 USD and towards end of 2024 - 3000 USD. 🎁Please hit the like button and 🎁Leave a comment to support our team! RISK DISCLAIMER: Trading Futures , Forex, CFDs and Stocks involves a risk of loss. Please consider carefully if such trading is appropriate for you. Past performance is not indicative of future results. Always limit your leverage and use tight stop loss.
OANDA:XAUUSDLong
by ProjectSyndicate
16
Gold Market Outlook for August 19, 2024Comprehensive Analysis for XAU/USD (Gold) with Ichimoku Cloud and Other Technical Indicators —— As of the closing price on Friday, August 16, 2024, at $2,508.140, here is an in-depth analysis combining various technical indicators, including the Ichimoku Cloud, to project potential price movements for Monday, August 19, 2024. 1. Current Trend and Market Sentiment: - Price Positioning: XAU/USD is trading above significant levels, indicating a strong bullish momentum. The closing price near $2,508 suggests that gold has maintained its upward trajectory over recent sessions. - Ichimoku Cloud Analysis: - Kumo (Cloud): The price is well above the Kumo, confirming a strong bullish trend. The Kumo is upward-sloping, providing robust support below current price levels, which suggests that any pullbacks could be limited and likely to find support around the cloud's upper boundary. - Tenkan-sen and Kijun-sen: The Tenkan-sen (Conversion Line) is above the Kijun-sen (Base Line), which indicates ongoing bullish momentum. Both lines are likely sloping upwards, showing that short-term and medium-term trends are in favor of further gains. - Chikou Span: The Chikou Span (Lagging Line) is positioned above the current price and the cloud, further affirming the bullish sentiment. This alignment generally precedes a continuation of the upward trend. 2. Key Support and Resistance Levels: - Resistance: - The first major resistance is near $2,520, which is close to the recent highs and aligns with the red area of interest on the chart. A breakout above this level could pave the way for the price to test the next resistance levels around $2,540 or higher. - Support: - Immediate support is identified around $2,495 (near the LRC upper band and the Kijun-sen). If the price pulls back to this level, it may find buying interest, as it aligns with strong technical support. - The next support lies around $2,454 (KC basis), which also serves as a lower bound for a potential retracement. 3. Other Technical Indicators: - Moving Averages: The price is likely above both the 50-day and 200-day EMAs, reinforcing the bullish trend. The moving averages might also be in a bullish crossover position, where the shorter-term average (50-day) is above the longer-term average (200-day), adding to the positive outlook. - Relative Strength Index (RSI): The RSI could be approaching overbought levels, which would suggest caution. However, in strong trends, RSI can remain overbought for extended periods, so it’s important to look for divergences or a clear breakdown in momentum. - Volume Analysis: There has been an uptick in trading volume, indicating that the recent price moves are supported by strong market participation. High volume on up days is a bullish sign, while any significant decrease in volume during pullbacks could suggest that the bulls are still in control. 4. Potential Price Action Scenarios for August 19, 2024: - Bullish Scenario: - If XAU/USD sustains above $2,508 and breaks the $2,520 resistance level, the bullish trend is likely to continue, with potential targets at $2,540 and higher. - The Ichimoku Cloud's upward trend, along with supporting indicators like moving averages and RSI, suggests that any pullbacks could be opportunities to buy, particularly if the price remains above key support levels like $2,495. - Bearish Scenario: - If the price fails to break above the $2,520 resistance and begins to retrace, the first significant support is around $2,495. A breach of this level could see the price testing $2,454 or even the upper boundary of the Kumo around $2,440. - In the event of a deeper correction, monitor the behavior around the Kumo (cloud) and the Kijun-sen, as these levels will be crucial in determining whether the bullish trend will resume or if a more prolonged correction is underway. Conclusion: The overall outlook for XAU/USD is bullish, with the price above the Ichimoku Cloud and supported by strong technical indicators. However, as the price approaches key resistance levels, traders should remain vigilant for any signs of reversal or consolidation. A sustained break above $2,520 could open the door for further gains, while a failure to maintain this level might lead to a short-term correction towards support levels around $2,495 or lower. Trading Strategy: - Entry Point: Consider entering a long position on a confirmed break above $2,520 with a potential target of $2,540 or higher. - Stop Loss: Set a stop loss just below $2,495 to protect against a deeper pullback. - Profit-Taking: If the price rallies significantly, consider taking partial profits near $2,540, while moving your stop loss to break even to lock in gains. Navigating Key Economic Data and Volatility ———- 1. Macro Context and Recent Price Action Gold prices have been under pressure as of late, largely due to a strengthening U.S. dollar and hawkish signals from the Federal Reserve. The market is pricing in a scenario where the Fed continues its aggressive stance on interest rates, making non-yielding assets like gold less attractive. At the same time, global economic uncertainty—particularly surrounding China’s economic slowdown and geopolitical tensions—continues to support gold as a safe-haven asset. As of the last trading day (Friday, August 16, 2024), gold closed at $2,508.140, just above significant technical levels but within a range that could suggest a potential for both upward and downward moves depending on upcoming economic data releases. 2. Analysis by Trading Session Asian Session: • Outlook: During the Asian trading hours on August 19, gold is expected to trade cautiously. The Asian markets will open without significant economic data releases, so the price movement will likely be influenced by broader market sentiment and any overnight developments, particularly from China. Given that China’s economic data has been weaker recently, any surprise announcements could inject volatility into gold prices. • Technical Analysis: Based on Ichimoku Cloud and other indicators (e.g., Bollinger Bands and Keltner Channels), gold might hover around its recent closing price with limited upside potential in this session unless there is a significant market-moving event. European Session (London): • Key Economic Data: • HICP (Harmonised Index of Consumer Prices) YoY (July) - 09:00 AM GMT • Producer Price Index (PPI) MoM (July) - 09:00 AM GMT • Outlook: The focus will shift to Eurozone inflation data. If the HICP figures indicate higher-than-expected inflation, it could reinforce the ECB’s hawkish stance, leading to a stronger Euro and a weaker gold price in dollar terms. Conversely, lower-than-expected inflation could ease pressure on the ECB, potentially offering some support to gold as the Euro weakens. • Technical Analysis: The Ichimoku Cloud on the daily chart suggests resistance levels near the current price, but if the data is supportive of gold, a breakout above the cloud could indicate a bullish move. Conversely, failure to hold above key support levels (around $2,495) could signal a bearish trend continuation. U.S. Session (New York): • Key Economic Data: • Leading Index (July) - 2:00 PM GMT • Coincidence Index (July) - 2:00 PM GMT • Outlook: The U.S. session will be critical, with key economic indicators that could set the tone for the rest of the week. A stronger-than-expected Leading Index could further the narrative of a robust U.S. economy, putting additional pressure on gold as the dollar strengthens. Conversely, weaker data could lead to a relief rally in gold as it might dampen expectations of further aggressive Fed rate hikes. • Technical Analysis: The confluence of technical indicators, including the Ichimoku Cloud and the daily moving averages, suggests that gold could face significant resistance at the $2,520 level. A break above this could target the $2,540 range, but a failure to do so might result in a retest of the lower $2,490 support level. 3. Timing and Impact of Economic Data Releases Integrating the timing of key economic data releases with trading strategies is crucial for navigating potential market volatility: • 09:00 AM GMT: Release of Eurozone HICP and PPI data during the European session could result in increased volatility in gold prices. Traders should be cautious around this time as inflation data will likely influence market sentiment regarding ECB policies. • 2:00 PM GMT: Release of U.S. Leading and Coincidence Indexes will be critical during the New York session. The impact on gold prices could be significant, particularly if the data deviates from market expectations. Traders should prepare for potential sharp moves in gold prices around this time, particularly if the U.S. economic outlook changes. 4. Trading Strategy Recommendations For Asian Session: • Conservative Approach: Hold positions and wait for more substantial data from Europe. Tight stop-losses are recommended to protect against any unexpected news from China. For European Session: • Event-Driven Trading: Set up trades based on the inflation data release at 09:00 AM GMT. Consider using straddle options or conditional orders to take advantage of potential volatility. For U.S. Session: • Volatility Management: Given the likely market response to U.S. data at 2:00 PM GMT, consider trading with tight stop-losses or using a combination of trailing stops to capture potential upward or downward moves. 5. Conclusion August 19, 2024, is shaping up to be a critical day for gold trading, with significant economic data releases scheduled across the European and U.S. sessions. Gold prices could experience substantial volatility as traders react to inflation data from the Eurozone and economic indicators from the U.S. The integration of Ichimoku Cloud analysis suggests potential resistance and support levels that could guide trading decisions throughout the day. Adapting your strategy to these releases and being prepared for potential market shifts will be key to navigating the trading day successfully. This combined analysis offers a comprehensive outlook, balancing the bullish momentum with the potential risks of a pullback.
OANDA:XAUUSD
by ICHIMOKUontheNILE
XAUUSD Strong Bullish trend**Monthly Chart** XAUUSD monthly candle closed as doji due to the sideway movement of this pair between High 2387.78 and low 2286.83 levels. This has created indecision bias in the market. However, due to geopolitics reasons, this pair has strong momentum to move higher in the next few months. Therefore, we shall assess this pair near supply and demand zones for better risk-to-reward trades. Last week ended on 5th July, has moved XAUUSD price action above the previous month's doji candle. This confirmed a continuation of the bullish trend. The Next target is around 2,450 level. **Weekly Chart** XAUUSD weekly candle closed as a bullish engulfing after testing the demand zone from the previous week's key reversal which has tested the manipulation candles around the demand zone on the weekly chart. **Daily Chart** Due to the US NFP and unemployment rate released on Friday, XAUUSD closed as a strong bullish candle. This week the trend is expected to continue bullish. However, any retracement will be a good buying opportunity from a lower time frame. Next Target around 2,450 and then 2,500 level.
OANDA:XAUUSDLong
by PropSignals
XAI ANALYSIS (12H)According to the data we have on the chart, XAI seems to be completing a large triangle. In the green range, wave D (which is a diametric) is expected to end and then move towards the specified supply and again reject the supply strongly downwards. Let's see what will happen Closing a daily candle below the invalidation level will violate the analysis. For risk management, please don't forget stop loss and capital management When we reach the first target, save some profit and then change the stop to entry Comment if you have any questions Thank You
by behdark
HelenP. I Gold will rebound up from support level to $2350Hi folks today I'm prepared for you Gold analytics. If we look a the chart we can see how the price rebounded from the trend line and made a strong impulse up to the resistance level, thereby breaking the 2290 support level and even soon XAU broke the resistance level too and rose higher resistance zone. But then the price turned around and made a correction movement, declining lower than the resistance level, after which the price tried to repeat the past impulse, but when it reached the 2400 level, Gold in a short time declined to the support level, which coincided with the support zone. Also, the price entered to this area and even fell to the trend line, after which at once made impulse up, higher than the resistance level with the resistance zone. But later XAUUSD turned around and dropped to the trend line first, breaking the resistance level one more time, and recently it broke the trend line and declined to the support level. Just now, I expect that the price will rebound up from the support level to the trend line, after which it can break this line and continue to grow. That's why I set my goal at 2350 points. If you like my analytics you may support me with your like/comment ❤️
OANDA:XAUUSDLong
by FirstNameHelen
1
Gold April 26 2024Today is Thursday April 25 6:30pm EST. Here is the daily prediction for tomorrow's price action in the gold market. Caution: Yesterdays prediction could not have been better. Members have made quite a lot and its easy to become over confident. Tomorrow is Friday and we've been trading in somewhat of a tight range. I expect a big fake move to the upside to catch traders who did not participate in the multiple long opportunities so far this week. Then take them out of the market by dropping the price lower. This is some psychology behind the move.
OANDA:XAUUSD
by Mora_Institute
4
GOLD XAUUSD Bullish Heist plan to make 💰🤑 moneyDear Gold Robbers, This is our Day Trade master plan to Heist Bullish side of GOLD mines. My dear Robbers U can enter only in Moving average pullback i mentioned, Our target is Red Zone that is High risk Dangerous area.My dear Robbers please book some partial money it will manage our risk. Be safe and be careful and Be rich. Loot and escape near the target 🎯 I started looting on Monday and I have been looting inside the gold mines until now. Please refer my old ideas. make money take money 💰💵
CAPITALCOM:GOLDLong
by Thief_Trader
XAU (gold) Hello friends Unfortunately, I can't upload a video for you since yesterday I will post it as a picture We are currently moving in an upward channel, in the upward path we have many important resistances that have been drawn and the price can have corrections from these areas. Weakness can be seen in the upward direction, and also the data is in favor of the dollar and personally. I expect the price to go down and I see the movement of the price towards 2055 as an opportunity to sell Do not log in without getting confirmation and be careful not to fall into the trap of unsuccessful failures
OANDA:XAUUSD
by Fxbehradgfhgh