GOLD next possible moveWe’ve noticed liquidity lower down, so we might expect gold to reach for this liquidity before a potential expansion upward. We’ll stay alert for validation at one of the action zones.
Xauusd(w)
Gold Analysis==>>Falling ContinuesGold ( OANDA:XAUUSD ) has already started falling from the Resistance zone($2,751-$2,746) and the Resistance line ( in the 15-minute time frame ).
According to Elliott wave theory , Gold seems to have completed main wave 4 , which has a structure of the Double Three Correction(WXY) .
I expect Gold to fall to at least the Support zone($2,734-$2,731) , and if the Support zone breaks , we can confirm the end of main wave 4 , and most likely, Gold will fall to $2,721 .
🔔Be sure to follow the updated ideas.🔔
Gold Analyze ( XAUUSD ), 15-minute time frame ⏰.
Do not forget to put Stop loss for your positions (For every position you want to open).
Please follow your strategy; this is just my idea, and I will gladly see your ideas in this post.
Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
Gold Prices Rise: Investor Hopes After U.S. Election?Hello everyone,
Currently, the global gold price is experiencing a slight increase, standing at around 2,736 USD per ounce. In the last week of October and early November, gold prices have seen significant fluctuations due to economic and political factors.
Gold prices have rebounded as investors are actively buying. In my opinion, investors are optimistic that the precious metal's price will rise significantly following the U.S. presidential election, taking place on November 5th. Additionally, the precious metal seems to be supported by the ongoing conflict in the Middle East and the expectation that the Federal Reserve (Fed) will further cut interest rates at the upcoming policy meeting on November 7th.
The short-term outlook suggests that gold may continue to rise, bolstered by economic and political uncertainties, along with the potential for the Fed to further ease monetary policies.
Gold Consolidates Ahead of U.S. Election🟡 Gold Price Update: Currently at $2737.00
Gold has been moving sideways recently, showing a period of consolidation as market participants await further catalysts. This sideways movement reflects uncertainty and cautious positioning, likely influenced by the upcoming U.S. election. Historically, major events like elections can introduce volatility as investors seek safe-haven assets in times of uncertainty, and gold often responds with significant moves.
📊 Technical Outlook
Support Zone: $2725.00 - $2730.00
Resistance Zone: $2745.00 - $2755.00
Range: The current range-bound movement between $2725 and $2755 indicates that buyers and sellers are in balance for now, awaiting clearer market direction.
Key Indicators:
Relative Strength Index (RSI): Currently near the 50 level, showing neutral momentum. A breakout above 60 could signal buying strength, while a drop below 40 may suggest a bearish momentum.
Moving Averages: The 20-period SMA is close to the price action, underlining the ongoing consolidation. Watch for price action to decisively break above or below the SMA, potentially signaling a new trend.
Volume: Volume has been decreasing, suggesting a lack of strong conviction from either buyers or sellers. Look for a volume increase on any breakout to confirm the direction.
🔮 Possible Scenarios with U.S. Election Implications
With the election on the horizon, any surprising result or political uncertainty could cause a significant uptick in gold demand as investors seek safety. However, a clear result may bring stability, potentially putting downward pressure on gold.
Trade Setup Idea:
Bullish: Consider buying on a confirmed breakout above $2755, targeting $2780 or higher.
Bearish: A break below $2725 could open doors for a drop to $2700.
As always, keep your risk management tight and watch for news developments. The market will react sharply as new information comes in!
World gold prices fall when the USD index is anchored highInvestors are expressing caution ahead of the US Presidential election and the upcoming decision of the US Federal Reserve (FED) on interest rates.
Today (November 5), the US presidential election will take place. Public opinion polls show that Democratic candidate Kamala Harris and Republican candidate Donald Trump are closely tied in the race for the White House.
UBS analyst Giovanni Staunovo shared: "The driving force for gold this week will be the US presidential election. If Donald Trump wins, the gold price will move faster closer to the target of 2,900 USD/ ounces, gold will likely fall if Ms. Kamala Harris wins.
Meanwhile, the Fed's interest rate decision is unlikely to create much change, because the bank will likely signal further cuts in line with market expectations."
🔥 XAUUSD BUY LIMIT 2727 - 2725🔥
✅TP1: 2755
✅TP2: 2765
✅TP3: OPEN
🚫SL: 2724
🔥 XAUUSD SELL LIMIT 2753 - 2751🔥
✅TP1: 2745
✅TP2: 2735
✅TP3: OPEN
🚫SL: 2760
Gold Valuable Insights: for 05-NOV-2024 Your daily Gold trading briefing: Zones, insights, and opportunities.
XAUUSD, 15-MINUTES TIMEFRAME CHART XAUUSD, 15-minute timeframe chart
XAUUSD formed a bullish Engulfing pattern.
General outlook
XAUUSD has been under selling pressure within the last day.now the price display a bullish Engulfing pattern.The price ready to rise.
Possible scenario
The best way to use this opportunity is to place a buy order at 2,736.
Set your stop loss at 2,728. below the previous low ($8.00 loss for 0.01 lot) and take profit at 2,755. ($19.00 profit for 0.01 lot).
The risk-reward ratio for this order is 1:1.
US Election, FED Rate Cut, 1,200+ earnings - Here we go!!!It's Election Eve and I thought it was important to share how I'm positioning for the US Election and all of the craziness that it may bring.
Maybe it's all hype, maybe it's the truest test of US Democracy, maybe it's the beginning of the end. I'm not going to opine on political preference. I'm simply going to focus on current levels and what's in play.
Pullback levels for me are all pretty visually friendly with EMA combos on the Daily and Weekly charts. We are 3-4% off from recent highs, the market wasn't in love with Mag 7 earnings last week, pre-election jitters are fairly obvious, and the market will be looking for a reason to do something.
Expect volatility - and I hope it's nothing wild and crazy like Aug 1-5. I discuss the potential concern for a US Election where a winner is not declared and we wait days or longer for an official winner. Also a phenomenon is the Wednesday close for the S&P tends to show solid short-term direction, but I believe that's only if we see a winner Tuesday night for election night (just my opinion).
I'm hedged, alerts are set, it's all happening whether we like it or not. Focus on what you can control in your trading and let's figure it out.
Thanks for watching!!!
XAU/USD: Today's Support, Resistance, and TargetsMarket Overview: Today, I conducted a detailed analysis of the XAU/USD pair, focusing on key support and resistance levels that will guide my trading decisions.
📊 Key Levels:
**📉 Support Level:
2722
This is a critical level where buying interest is likely to emerge.
**📈 Resistance Level:
2747
This level may present challenges for upward movement, potentially leading to selling pressure.
🎯 Trading Targets:
Target 1:
2733
This is my initial target, where I expect price action to react.
Target 2:
2725
This secondary target represents another opportunity for profit taking.
🔒 Risk Management:
Stop Loss:
2748
A prudent stop loss to protect against unexpected market movements beyond the resistance level.
📈 Summary: Today's analysis indicates a cautious but strategic approach to trading XAU/USD. The identified support and resistance levels, along with clear targets and a stop loss, are designed to optimize trading performance while managing risk effectively.
Gold Volatility Outlook: Wave B in Focus for MidweekGold volatility is expected to peak around the presidential election.
According to Fibonacci levels, the fifth wave and wave A have both completed.
The price, currently near the lower boundary of the uptrend channel, marks the start of wave B, which is projected to move toward the channel's midline.
A subsequent downtrend from this midline could potentially bring the price to around 2703.
Gold's Next Move: Key Levels to Watch for Bulls and Bearshello guys.
Let's dive into FOREXCOM:XAUUSD analysis!
Channel Support: Gold is currently trading within an upward channel, showing steady bullish momentum.
Correction Point: The price appears to be correcting, aiming to test the 50% retracement level of the last upward spike, around $2,721.50. This area aligns with strong support, often referred to as the "last hunting area."
Scenarios to Watch:
Bullish Scenario: If gold finds support at the $2,721 zone and reverses, it could rally back up to challenge the previous resistance near $2,770–$2,780, maintaining the bullish trend.
Bearish Scenario: A break below the $2,721 support could indicate a deeper correction, potentially targeting the lower boundary of the channel.
Gold stays strong amid the US election and Fed rate cuts.Early on Tuesday morning, the latest developments surrounding the U.S. presidential election showed that former President Donald Trump is leading Vice President Kamala Harris in each of the seven swing states, although the margin is very narrow. A survey by AtlasIntel revealed that Trump holds the widest margin in Arizona, with 52.3% compared to Harris's 45.8%.
This update seems to have helped the U.S. dollar halt its decline, keeping gold prices in USD at a low level. Furthermore, expectations of a less aggressive easing cycle from the U.S. Federal Reserve (Fed) have also supported the dollar.
Personal opinion:
Gold prices remain steady, fluctuating between $2,730 and $2,748, with no catalyst pushing them outside this range. While the RSI still indicates bullish momentum, buying pressure seems to be easing. For continued gains, gold buyers need to reclaim the key $2,750 level, which could lead to a target of $2,790. However, a daily close below $2,750 could signal further weakness.
Pay attention to the price range:
Buy Zone: 2715 - 2713
SL: 2708
Sell Zone: 2747 - 2749
SL: 2754
Sell Zone: 2761 - 2763
SL: 2768
Bullish bounce?XAU/USD is falling towards the support level which is a pullback support that aligns with the 38.2% Fibonacci retracement and the 78.6% Fibonacci projection and could bounce from this level to our take profit.
Entry: 2,714.83
Why we like it:
There is a pullback support level that aligns with the 38.2% Fibonacci retracement and the 78.6% Fibonacci projection.
Stop loss: 2,685.84
Why we like it:
There is a pullback support level that is slightly above the 61.8% Fibonacci retracement.
Take profit: 2,759.77
Why we like it:
There is a pullback resistance level.
Enjoying your TradingView experience? Review us!
Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
XAUUSD Hits the “Shield” of Resistance: Correction or Rebound?Currently, XAUUSD is facing a strong resistance zone at 2,748 USD/oz, with the 34 EMA acting as a “shield” that deflects buyers' recovery efforts.
If the price fails to break through this resistance, it may correct down to the support zone at 2,720 USD/oz, with a potential further dip to 2,705. This area could offer buyers a chance to "get back in the game."
The latest news adds fuel to the fire: Expectations that the Fed will maintain high interest rates are strengthening the USD, putting pressure on gold prices. However, pre-election uncertainty in the U.S. is boosting demand for safe-haven assets, which could trigger an unexpected rebound if tensions escalate.
Suggested Strategy: Stay calm and observe price reactions as they approach support or resistance levels. This is a moment to exercise patience, waiting for clear opportunities, ready to seize the “wave of opportunity” when the market gives a clearer signal.
GOLD BREAKS ON SUPPORT, $2710 NEXT?We've identified a breakout below the support level on the hourly timeframe. Currently, we are observing a pullback, and we anticipate a continuation of the downtrend toward the support region around $2710. Additionally, the bearish gap opening on the DXY suggests that any effort to fill this gap will likely strengthen the USD, driving XXXUSD pairs further downward.
Could the Gold bounce from here?The price is falling towards the pivot and could bounce to the pullback resistance level.
Pivot: 2,722.29
1st Support: 2,685.29
1st Resistance: 2,758.83
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
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, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Adjustment - gold price drops! Waiting for the new US president⭐️Smart investment, Strong finance
⭐️GOLDEN INFORMATION:
Gold (XAU/USD) remains positive on Monday as US election risks and Middle East tensions continue to support the safe-haven asset. However, stronger demand for the Greenback and rising US bond yields could limit Gold’s gains, as higher yields make non-yielding assets like Gold less appealing.
Investors are focused on Tuesday's US presidential election, with the market’s attention shifting to the Federal Reserve’s rate decision on Thursday. Given the election uncertainty, it’s anticipated that the Fed will opt for a standard 25 basis point rate cut, rather than a larger half-point easing.
⭐️Personal comments NOVA:
Gold price officially decreased - legalized adjustment with the US presidential election. The US economy will have a new breeze - boosting the economy and other investment areas. Gold will wait for the next interest rate information
⭐️SET UP GOLD PRICE:
🔥SELL GOLD zone: $2757 - $2759 SL $2762 scalping
TP1: $2750
TP2: $2740
TP3: $2730
🔥SELL GOLD zone: $2771 - $2773 SL $2778
TP1: $2765
TP2: $2750
TP3: $2740
🔥BUY GOLD zone: $2717 - $2715 SL $2710
TP1: $2725
TP2: $2732
TP3: $2740
⭐️Technical analysis:
Based on technical indicators EMA 34, EMA89 and support resistance areas to set up a reasonable SELL order.
⭐️NOTE:
Note: Nova wishes traders to manage their capital well
- take the number of lots that match your capital
- Takeprofit equal to 4-6% of capital account
- Stoplose equal to 2-3% of capital account
GOLD 1H CHART ROUTE MAP UPDATE: FORECAST BEFORE THE ELECTION.Hi everybody,
Identifying Support and Resistance Zones: Based on the chart, the key support zone is found near the 2,730 level, where the price has repeatedly rebounded. The resistance zone is around 2,750 – 2,760, where the price encounters selling pressure.
Current Trend: It is evident that the price is in a slight downtrend following an unsuccessful recovery. Recent trading volume has not spiked significantly, indicating caution in the market.
Short-Term Forecast: If the price breaks below the 2,730 support level with high volume, the downtrend could continue. Conversely, if the price holds and moves above the resistance level, a recovery rally may occur.
XAUUSD H4 | Bullish BounceBased on the H4 chart analysis, we can see that the price is falling to our buy entry at 2715.70, which is a multi swing low support close to 38.2% Fibo retracement and 161.8% Fibo extension
Our take profit will be at 2744, an overlap resistance.
The stop loss will be placed at 2686.22, which is a pullback support level.
High Risk Investment Warning
Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you.
Stratos Markets Limited (www.fxcm.com):
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 64% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Stratos Europe Ltd, previously FXCM EU Ltd (www.fxcm.com):
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 66% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Stratos Trading Pty. Limited (www.fxcm.com):
Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763), please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com
Stratos Global LLC (www.fxcm.com):
Losses can exceed deposits.
Please be advised that the information presented on TradingView is provided to FXCM (‘Company’, ‘we’) by a third-party provider (‘TFA Global Pte Ltd’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by TFA Global Pte Ltd.
The speaker(s) is neither an employee, agent nor representative of FXCM and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of FXCM or any form of personal or investment advice. FXCM neither endorses nor guarantees offerings of third party speakers, nor is FXCM responsible for the content, veracity or opinions of third-party speakers, presenters or participants.
Declines Ahead of U.S. Presidential ElectionOn the global market, spot gold prices edged down by 1.8 USD, settling at 2,736.9 USD/ounce, while gold futures also recorded a decline, reaching 2,745.9 USD/ounce. Investors are currently focused on upcoming key events, such as the U.S. presidential election and the Federal Reserve's interest rate decision.
From a technical analysis perspective, the resistance level at 2,747 USD is posing a challenge for gold in the short term, preventing prices from maintaining an upward momentum and exerting pressure for a potential downward correction. Although support at 2,734 USD is helping to prevent a deeper decline, the recovery of gold's upward trend remains difficult.
Overall, the gold market is currently driven by short-term technical factors, while macroeconomic events such as the Fed's decision and the U.S. presidential election will play a crucial role in determining the long-term trend of gold prices. Investors will need to closely monitor support and resistance levels, while also keeping an eye on macroeconomic factors to make informed investment decisions.
Gold price analysis November 4Fundamental Analysis
Gold prices traded in positive territory on Monday. The US presidential election risks and ongoing geopolitical tensions in the Middle East are likely to support the yellow metal, a traditional safe-haven asset, in the near term. However, renewed demand for the greenback and higher US bond yields could limit gold’s upside as higher yields make non-yielding assets such as bullion less attractive by comparison.
Investors will be closely watching the upcoming US presidential election on Tuesday. Attention will turn to the US Federal Reserve’s interest rate decision on Thursday. Uncertainty over the US election outcome is one reason why markets are betting on the Fed cutting interest rates by a conventional 25 basis points (bps) on Thursday, rather than repeating its excessive half-point easing.
Technical Analysis
Gold prices were trading sideways in a narrow range at the start of the week. The 2748 and 2728 borders are still guaranteed in today's Asian and European session. We still have to depend on the market volatility to choose the price border zones to trade. The support zones of interest are 2718, 2709. The upper border is noted around 2760 and 2780. When the price breaks out of the 2728 support zone, the main strategy will be to wait for SELL when the sellers have won the market. Wish you a successful trading day.
GOLD - IDEAAfter capturing a bit of scalp towards the upside it's heading towards the downside and can look for LONG once it reaches the mark zone and gives some confirmations on M15.
Execute the price at the exact price mentioned, NO FOMO.
💡KEEP IN MIND💡
I am not a financial advisor and do not contribute to any of your losses or profits. To be safe, I recommend that you risk only 0.1 - 0.2% for the first week or 10 days, as no one can predict the market.
🚀Follow, I will drop daily 2-5 Intraday Charts🚀
GOLD Rising Channel! Buy!
Hello,Traders!
GOLD is trading in an
Uptrend and the price
Has formed a rising
Parallel channel so
We are bullish biased
And we will be expecting
A further move up
Buy!
Like, comment and subscribe to help us grow!
Check out other forecasts below too!
