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(XAU) Gold - Where to next?XAUUSD GOLD - Where to next? We been in bullish channel for a while a break down below Red line which you could even see as a trend-line could mean perhaps a shift of direction. However, if we stay above that key support area, the bullish continuation could still occur to the next Fib Retracement area. Remember fundamentally we have Feds meeting this week. At this current moment of time, we have formed a wedge which is drawn in yellow a break to either direction, for further confirmation you could trade the pull back. Technical aspects: Support:1774.520, 1764.020, 1755.770 Resistance: 1797.745, 1806.580, 1814.355 Pattern: Wedge Remember: This is a just a trade idea, it is important to trade your own plan for further confluence! Mind Capital (Just trade idea, not a recommendation)
OANDA:XAUUSD
by MINDCAPITAL
GOLD up to 1950? (medium term analysis)Diary - Analysis Gold at 4h time frame is forming an W pattern and an inverted HS diary. Now I think we will go to a final target 1950. Monetary and Fiscal Stimulus Monetary stimulus (from the Fed) is not expected to let up this year. As one example, Chicago Fed President Charles Evans said, “Economic agents should be prepared for… an expansion of our balance sheet…” And fiscal stimulus (from congress and the president) is likely to explode in 2021. The interesting thing about this type of stimulus is that it bypasses the banks and puts funds directly into the hands of people who will have a propensity to spend it. President-elect Joe Biden has explicitly stated that his “first priority” when he takes office is a stimulus package. And with the return of Janet Yellen—now as Treasury Secretary—further stimulus will be supported. During her tenure as Fed Chair and in recent communications, the message is very clear: more fiscal stimulus is coming. Fiscal stimulus amounts are not finalized as we write, but based on what has been said publicly so far, we should expect something in the range of at least $3 trillion in fiscal spending in 2021. Monetary and fiscal stimulus is arguably one of the strongest catalysts for gold, not to mention the ramifications that can come from it. Of course if they don’t enact stimulus, or much less than expected, it would be a drag on the gold price. But that isn’t likely to happen, at least this year. If stimulus efforts play out as expected, the gold price will increase… Gold price will increase Low Interest Rates The Fed has signaled ultra-easy monetary conditions for at least the next year. Chicago Fed President Charles Evans said, “The Fed’s policy stance will have to be accommodative for quite a while… economic agents should be prepared for a period of very low interest rates.” The “real” rate (10-year Treasury minus the CPI) is already negative in the US. And many analysts expect the spread between the nominal interest rate and inflation to widen if the economy begins to recover. In other words, even if nominal yields stay flat, the real yield would continue to fall if inflation picks up. The relationship between gold and real yields is one of the most consistent predictors of the gold price. Inflation-adjusted yields are likely to remain negative. If so, the gold price will increase… gold price will increase U.S. Dollar: Because gold is universally priced in U.S. dollars, they are usually inversely correlated. As such, a weak U.S. dollar is supportive of higher gold prices. Ongoing stimulus efforts will keep the USD under pressure—and given the amount of fiscal expenditures expected this year, the dollar is likely to fall, which will push the gold price up... gold price will increase If the virus is contained and the Fed and congress scale back on their stimulus efforts, the dollar would rise and gold would probably decrease... gold price will decrease Inflation Threat: Since the Fed has expressly stated it is comfortable with inflation rates exceeding 2%, a higher CPI is a distinct possibility. Consider what else is transpiring that could lead to higher inflation rates this year… Debts and deficits have reached record territory, which historical studies have shown lead to higher rates of inflation. The federal debt ended 2020 at 135.6% of GDP, a level unmatched in modern history. And the federal deficit is now $3.2 trillion, more than twice the level of the Great Recession and a level not seen in U.S. history. Meanwhile, the last reading of the Purchasing Managers Index (PMI) in 2020 showed that while new orders dropped, input prices rose. In the case of the services PMI, input prices jumped to the highest on record for the second straight month, while input prices in the manufacturing survey hit the highest level since mid-2018. Commodity prices have also jumped. Many are up double-digits from a year ago, with lumber prices up triple digits. Meanwhile, St. Louis Fed President James Bullard said his bank has gotten reports of supply constraints of various kinds that are “intense” and led to a big increase in prices. “The quiescence of inflation that has characterized the last decade may not be a good guide for what’s going to happen in 2021, where I would expect possibly higher inflation than we’re used to.” And Kansas City Federal Reserve President Esther George, one of the “hawks” at the central bank, said she is “worried inflation is brewing and could surprise to the upside.” If rising consumer prices visit us in 2021, investors are bound to look for inflation hedges, gold being an obvious choice and one that will push the price up... gold price will increase
OANDA:XAUUSDLong
by miketiger
Triangle at GOLDOne of the most popular pattern is the triangle. It is also among the figures with the best performance. The idea behind it is very simple - The price makes lower peaks and higher bottoms, thus closing in a triangle. At one point it must break and this will trigger movement in the direction of the break. In most cases, the break is in the direction of the previous trend. If we see a break here, we can expect a quick reach to 1754. In case of a break down we can look for 1701. To receive confirmation of the break, wait for closing below / above the previous level. LIKE AND COMMENT - this is how you help us!
FX_IDC:XAUUSD
by ForexTrendline
3
GOLD UPCOMING FORECAST!!!As stated in last weeks forecast. Gold has been making lower lows and lower highs. Will this keep trending down? The probability of the monthly and Daily imb above @ $1770 - $1815 getting filled is highly likely. I will look for short term continuation long trades to this area. This was a petty corrective week on the HT's. I will wait to see how PA react to those specific areas highlighted before entering a trade short. If I see a nice continuation pattern around the Asian ranges for long I will enter that too the $1780 above. There is some IMB around the $1900 level which could be a nice long term trade.
OANDA:XAUUSD
by Jake-from-the-trading-Cartel
1
XAUUSD SHORT POTENTIAL forecast !!!!XAUUSD Short forecast!! This pair still has great potential to the downside. Long term this will hit the 20.00 at least. I will be looking for my key areas to get hit and then executing my trades on the lower time frames. If a short term potential long becomes available and it fits all my rules, I will take a trade short term to hit my key POI area. I missed 2 entries last week short as I was watching other pairs. I would expect a pullback Monday, Tuesday and then a nice push later in the week. Trade safe, trade smart and lets make some money!! Hit that like button and give us Follow for more upcoming trade forecasts.
OANDA:XAGUSDShort
by Jake-from-the-trading-Cartel
4
Gold similarities between topsGold is usually seen as a safe haven when stocks are falling or when inflation is rising. Neither of those two things are happening right now. Investors also are worried about a rise in U.S. layoffs as spiking coronavirus infections cause more businesses to shut down. Congress has yet to agree on more economic aid. All that has increased uncertainty about the direction of the economy. And uncertainty is often seen as good for gold prices. This was said back in 2011 in August right at the top, I do think this also applies to today's environment. - Inflation Rate for January 2021 is 1.4 "Gold is considered a good hedge against inflation," he said, "But the increase in gold price has far outpaced inflation, especially during the last decade." He noted that inflation has only picked up 2.4% on an annual basis during the last 10 years, but the price of the yellow metal has climbed more than 21% a year during the same time period. Unless higher inflation -- to the tune of 10% a year -- is forthcoming, Thomas said gold prices are "clearly in a bubble." Buffet's famous words: The prices of stocks and U.S. houses have risen faster over time than gold. Buffett has called investors who buy gold when the price is rising, even during times of uncertainty, "foolish." Conclusion: Short term exuberance because of the expected economic aid package, this will lead to a spike which will form a double top.
OANDA:XAUUSD
by Charlestrad3r