Bullish Trend Continues: Gold Market Insights A strong bullish trend is evident in the gold market.
The zone between 2177 - 2170 has solidified as a strong support level, previously serving as a significant resistance.
There is still liquidity to be tapped into at the higher levels.
Moreover, with the current economic context marked by uncertainties and global issues, there are ample reasons for the market to aim for higher grounds.
I maintain a completely bullish setup, with failed chart patterns and reversals on larger timeframes signaling further upward potential.
Xauusdbuy
Steady Gold Price Amid Good Friday BreakGreetings everyone! The global gold price remained steady. Spot gold is currently anchored at $2,313USD per ounce, maintaining a robust upward trajectory.
The ascending channel remains active, showing no signs of peaking. However, I anticipate some price adjustments next week as the price approaches the trendline's boundaries. Keep an eye on the support level at $2,239 USD.
Gold Rally Amid Election Pressure:Watch for Rising Wedge PatternAmid election pressure, gold continues to rise, breaking resistance levels. However, it's also forming a rising wedge pattern, evident in the joining of its tops and lows. Currently, the trend appears upward, but caution is warranted as the pattern suggests potential reversal. Stay vigilant till the end, as outcomes remain uncertain.
XAUUSD trading guidance for Wednesday
#XAUUSD 2024.4.3
📈Market Direction
During the last 3 days of this week, the market will fluctuate very strongly due to news about unemployment, especially Norn-farm on Friday. I remind you to reduce volume and always manage capital when entering orders.
About today, the opening price of gold is above the pivot and POC so the direction is BULLISH. I will wait for the gold price to decrease to key levels and enter orders when there is a signal. I expect gold to reach 2300 or even 2315 if the momentum increases strongly, conversely if gold goes through key levels without providing a reversal signal, gold may fall to test virgin POC at 2239
📈Zone Analysis
- 2269 zones m5
- 2260 zone m15
- 2252 fipzone m15
So today I will consider BUY
Entry Buy: 2269-2260-2252
Target: 2300 - 2315
📕Note:
- If there is no signal, do not trade
- Stoploss 3 times then you should rest
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XAUUSD:Head and shoulders or double top
Gold is currently under pressure at MA5 (2252-2254). If it breaks through, focus on the resistance of 2258-2263, and the support below is 2246-2241. If it falls below the support, consider the 2226-2218 range.
If it falls to around 2226-2223, you can try to trade long and pay attention to controlling the position. The rebound resistance will be concentrated at 2232-2236.
If the bulls make another effort to break through the resistance of 2258-2263, there is a high probability that it will reach a new high. Consider the 2271-2277 range, and at the same time prevent the market from forming a double top near 2270.
To sum up, my overall trading idea is to short at high levels.
Gold's rise has reached its peak and is bound to fall
After the opening of the Asian trading session on Monday (April 1), spot gold rose sharply, with the gold price reaching a maximum of $2,265, a record high.
Global geopolitical tensions are one of the reasons for the rise in gold prices, and investors may consider gold as a neutral reserve asset. Strong safe-haven demand, expectations of U.S. interest rate cuts and central bank buying have given gold prices another upward momentum.
The short-term cycle is currently experiencing high fluctuations, and there is demand for a pullback. Therefore, in the current short cycle, we are waiting for the end of the hourly and 4-hour bulls; then we are currently focusing on the high point of 2270, breaking through the price and continuing to surge upward. On the contrary, there will be demand for the price to fall back.
My suggestion is to go short near the high price of 2265-2268 US dollars.
TP: USD 2150
Second TP: $2142
SL: $2278
Gold Reversal Levels Using bolingerbandAs long as Gold remains in an unfamiliar zone, we cannot accurately predict its retracement levels. Therefore, we rely on the traditional bolingerband.
As shown on the chart, we anticipate Gold's levels where we might witness reversals or retracements, namely 2285, 2290, and 2398.
These levels are expected to be reached soon. Currently, we do not recommend any selling. The market is predominantly bullish across all time frames and geopolitical situations.
Selling opportunities may arise at higher levels, as indicated.
Gold increased, setting a new record at an unprecedented highGold hit some other file top all through today`s buying and selling consultation as buyers grabbed the safe-haven asset amid growing tensions withinside the Middle East, in large part ignoring a more potent greenback and putting bets on guess on US hobby price cuts.
“We see a few safe-haven call for pouring into gold, associated with the Israeli assault at the Iranian embassy in Syria,” stated Daniel Ghali, commodity strategist at TD Securities.
The trendy surge in gold expenses might be additionally associated with brief promoting from own circle of relatives places of work and specific buying and selling outlets, Ghali added.
Saxo Bank's Ole Hansen stated base shopping for from retail banks and valuable banks become being joined through momentum speculators, who prolonged their already increased shopping for after the gold rush. Break above $2,200.
The aggregate of bullish elements has induced bullion expenses to boom almost 10% because the start of the 12 months.
Independent analyst Ross Norman stated: “What makes the gold rally uncommon is that it comes notwithstanding enormous conventional headwinds together with a growing US greenback, growing Treasury yields, The opportunity of US hobby prices growing withinside the longer term.”
The greenback jumped after statistics on Monday confirmed U.S. production grew for the primary time in a 12 months and a 1/2 of in March.
Traders decreased bets on a June price reduce to 58% from round 60% earlier than the statistics, which beneathneath ordinary instances might have forced hobby-bearing bullion expenses equals 0.
Tai Wong, an impartial metals dealer primarily based totally in New York, stated that even as the gold marketplace stays in a “fantastically bullish mood”, it possibly wishes to consolidate amid a go back to hobby. extra hawkish perspectives at the guidelines of americaA Federal Reserve (FED).
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The fundamental fashion of GOLD continues to be up. With this momentum, GOLD`s growth of 2300 is reasonable.
>With state-of-the-art beat, anybody waits for GOLD's response to MA to shop for once more following the fashion
>Buy GOLD round Area 2275>2278
SL 2273
TP 2286>229x
>Sell Surfing Gold round 2287>2288
SL 2290
TP 2280>2278
Selling rhythm is usually recommended to move for small Vol, anybody.
gold buy Gold has been considered a highly valuable commodity for millennia and the gold price is widely followed in financial markets around the world. Mostly quoted in US Dollars (XAU/USD), gold price tends to increase as stocks and bonds decline. The metal holds its value well, making it a reliable safe-haven. It's traded constantly based on the intra-day spot rate. Improve your technical analysis of live gold prices with the real-time XAU/USD chart, and read our latest gold news, expert analysis and gold price forecast.
Gold price is consolidating the previous rally to all-time highs of $2,266 in Asian hours on Tuesday. Gold price looks to the US jobs data for fresh hints on a potential Fed rate outlook, especially after strong US PMI data dialed down expectations of a June Fed rate cut.
gold buy 2254
TP1 2260
TP2 2270
TP3 2280
TP4 2300
SL 2230
Gold's Bull Cycle!! $2300⭐️ Smart investment, Strong finance
⭐️ GOLDEN INFORMATION:
The price of gold (XAU/USD) remained within a range during the Asian session on Tuesday. It consolidated its recent gains, reaching an all-time high of around $2,265-2,266. The release of positive US manufacturing data has raised doubts about the Federal Reserve's plans to cut interest rates three times this year. As a result, US Treasury bond yields have increased, pushing the US Dollar (USD) to its highest level since February 14th. This has undermined the value of gold. However, there is still a possibility that the Fed will begin cutting rates in June, along with ongoing geopolitical risks in the Middle East. These factors should help limit losses for gold as a safe-haven asset. It is advisable to wait for significant selling pressure before confirming that XAU/USD has reached its peak in the short term.
⭐️ Personal comments NOVA:
Gold prices show that the market's fomo and excitement is huge. Today's news data also supports Gold prices continuing to reach new ATH
⭐️ SET UP GOLD PRICE:
🔥BUY GOLD zone: $2222 - $2224 SL $2217
TP1: $2230
TP2: $2238
TP3: $2248
🔥SELL GOLD zone: $2278 - $2280 SL $2285
TP1: $2270
TP2: $2260
TP3: $2250
⭐️ Technical analysis:
Based on technical indicators EMA 34, EMA89 and support resistance areas to set up a reasonable BUY 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
- The winner is the one who sticks with the market the longest
Gold Retreats from Record Highs Amid Stronger US DollarGold retreated from its recent record high of $2,265.58 per troy ounce, initially gaining ground during Asian trading hours before reversing course in European sessions. Currently hovering around $2,250, XAU/USD finds support from the robust rally of the US dollar following better-than-expected US ISM Manufacturing PMI results.
Technical analysis suggests that gold may continue its correction today and in the near future as it confirms the formation of a peak. This adjustment following its sharp uptrend aligns with the natural market wave cycles, indicating no cause for alarm. Strategically selling into market momentum and observing gold's retraction for the next phase is advisable.
The Golden Thread: A Journey Through History, Wealth, and SymbolGold, the precious metal that has fascinated humanity for centuries, holds a unique place in our collective consciousness. Its story weaves through the annals of history, intertwining with tales of wealth, power, and cultural significance.
From ancient civilizations to modern societies, gold has been treasured as a symbol of opulence and prestige. Its shimmering allure has adorned the crowns of monarchs, the temples of gods, and the jewelry boxes of the elite. Across continents and cultures, gold has transcended mere monetary value to become a universal symbol of prosperity and abundance.
But gold's significance goes beyond its material worth. It serves as a marker of milestones and achievements, symbolizing love and commitment in the form of wedding bands and engagement rings. Its timeless elegance inspires artists and craftsmen, who mold it into exquisite ornaments and intricate works of art, perpetuating its legacy for generations to come.
In the realm of finance, gold acts as a stabilizing force, a hedge against economic uncertainty and inflation. Investors turn to gold as a safe haven asset during times of crisis, seeking refuge in its intrinsic value and enduring appeal. Central banks stockpile gold reserves as a safeguard against currency devaluation, recognizing its role as a pillar of financial security.
As we journey through the tapestry of human history, the golden thread remains a constant, binding together disparate cultures and civilizations. Its radiance illuminates the path of progress, guiding us towards a future filled with promise and prosperity. And though the world may change and evolve, the allure of gold endures, a timeless symbol of wealth, beauty, and enduring value.
Gold price dropsFrom the current market situation, gold peaked around 2275 before encountering resistance and retracement, with the current low point being around 2229. For now, it appears that the bullish momentum has somewhat eased after a strong breakthrough. Additionally, with the continued strength of the US dollar, a return to a bearish sentiment is quite normal. Gold remains theoretically capable of further testing the 2220 area. Gold's 4-hour chart shows signs of a bearish engulfing pattern forming as it retraces from highs, with a bearish bias two bars are emerging. If gold continues to decline, you should not buy at the current high level. During the decline, it is worth paying attention to the support zone around 2239 before making any decisions. If this level is breached, it could indicate that gold has peaked and any recovery could face further downside pressure. As for how low it could go, it's difficult to say, but it could be significant.
Term Gold Trading StrategyWith the ongoing upward trend in gold, the 2257-2259 area holds crucial significance today. Failure to break through here may indicate a continued correction. I'll be looking to short gold in small increments in this zone, especially if a local double-top structure forms. Avoiding long positions near or above 2262 is prudent, as I anticipate potential downward movement. While others chase highs, I'm focused on shorting opportunities. Stay tuned for daily trading insights and signals to navigate the market effectively. Whether you're currently in losses or profits, I'm here to help maximize your gains. Follow for timely trading signals and strategies.
XAUUSD: Profit of 60 points today
Today, gold opened higher, the highest hit near 2265, after the release of the United States March ISM manufacturing PMI, more dollar, bearish gold, gold once reversed today's gains fell to near 2228, the first price near 2240.
Today, the operation of the last order gained 100 points, an order stop loss of 40 points, the overall profit is still profitable, the current 0.618 Fibonacci series is near 2252, we can sell light positions near 2252, stop loss of 50 points.
If you have a problem in trading, trust me, I will help you out!
💡 XAUUSD: Forecast 1 AprilDuring the weekend session, the gold price did not fluctuate due to the market holiday, however this morning it continued to have a very strong increase, creating a large gap. Currently, it has breached the psychological resistance mark of 2250 and is sinking deep into the overbought zone. If it continues to go up, the confluence mark of 2300 will be a potential target area. However, the market is currently very easy to adjust after many sessions of strong increases. If you buy too quickly, you should wait for corrections to have a better entry point.
💡 XAUUSD: Forecast April 2Gold prices sometimes slipped sharply in the past session, however when approaching the 2230 threshold and closing the gap, the price recovered strongly, currently back above 2250. This price behavior shows that buying pressure is still quite strong, It is likely that the price will continue to go up, the short-term target level will be around the 2300 threshold. Those who have caught the recent pullback can continue to hold the order, the SL is below the signal candle around 2030.
World gold prices stagnated because the USD increased sharplyAfter a sturdy boom at the hole consultation yesterday, whilst coming into americaA consultation, gold fell sharply. Based at the smaller time frame, it could be visible that gold is steadily developing dowtrend models.
Today, we propose which you prioritize promoting on the rate variety of 2250 or better than 226x.
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The marketplace is presently anticipating the Fed to begin reducing hobby costs in June this yr. However, precise facts at the US economic system introduced on April 1 triggered this expectation to decrease. At the equal time, the USD change charge and US Treasury bond yields improved, inflicting gold expenses to stagnate.
Data from the American Institute for Supply Management (ISM) indicates that commercial manufacturing output withinside the US has improved once more and the variety of recent orders has additionally improved. This is the primary time the United States production zone has performed increase after sixteen consecutive months of decline.
After this report, the futures hobby charge marketplace guess on a 58% opportunity that the United States relevant financial institution will reduce hobby costs at its June meeting - in line with the FedWatch Tool of CME buying and selling platform. Last week, this opportunity reached greater than 70%.
Responding to decreased expectancies approximately the Fed lowering hobby costs, US Treasury bond yields improved withinside the first buying and selling consultation of April. 10-yr US Treasury bond yields at one factor improved with the aid of using thirteen foundation points , achieving 4,319%.
Along with that, the Dollar Index measuring the electricity of the USD as compared to a basket of 6 different principal currencies improved with the aid of using greater than 0.5% withinside the first consultation of the week, achieving greater than a hundred and five points.
XAUUSD:Short, support 2212-2196
On the last trading day before the holiday, the market was stimulated by the news and rose strongly, reaching a record high. A big positive line in the 1D chart turned the MACD dead cross pattern into a golden cross, and the trend turned to long.
However, judging from past trading experience, there is a high probability that there will be a period of correction after the new high, so in the week after the holiday, my trading focus will be short positions.
Currently, the important support is 2212-2196
In addition, there will be NFP data in the new week, which is the most important data after big news and the focus of trading every month. I will share my trading strategy at that time. Friends who want to follow trading, please prepare in advance.