XAUUSD:Bulls still have another chance to attack
Gold began to rebound after falling to near the starting point of this rise. Now it is approaching the resistance level, the indicators have begun to weaken, and it is facing another direction choice.
If it breaks through, there will be a large rise, followed by a downward trend. If it cannot break through and falls back first, it means there is another chance for an upward move, so the trading strategy is to go long at a low level.
In the large-level time cycle, shorts are still the main force, with strong rebound resistance at 2368-2383-2391. The short trend of the large-scale cycle still maintains around 2280 or even around 2230-2200.
Xauusdforecast
Gold prices maintain range adjustmentGold last week was generally recovering from Monday's sharp decline. During the week, it once retreated downwards and broke through the 2300 integer mark to reach around 2291 and rebounded. Gold prices were supported above 2320 throughout the day on Friday, maintaining bullish shocks, rebounding and repairing, and accelerated higher before the US market in the evening, breaking through the 2352 mark to close. The daily K-line closed higher, fell back and fluctuated with a cross K, and the overall price was still operating within a wide range of long and short shocks.
Looking at the gold daily chart, in the daily K, the stochastic indicator is mainly in the dead cross, and no golden cross is currently formed; therefore, it cannot be said that the trend has reversed the downward trend for the time being; the central axis track supports the position around 2290. From the 4-hour chart, BOLL continues to trend flat, but the pressure on the form is BOLL's upper track pressure, the stochastic indicator crosses, and the weekend news is not strongly positive, launching an impact. In addition, the previous trend was a correction after a sharp decline; in 4 hours, it is recommended to follow the BOLL track and choose to go short on rallies;
On the whole: it is recommended to choose the idea of shorting on rallies; the short-term reference positions during the day are around 2340; and the position near 2350, two pressure positions, shorting, and the game continues downward;
Gold operation strategy:
It is recommended to go long on the retracement of 2315-2320, with the target of 2335-2340.
It is recommended to go short on a rebound of 2350-2348, with a target of 2340-2335.
Gold fluctuates repeatedly in downward trendTraders see a 64% chance of the Fed cutting interest rates in September, according to CME's FedWatch tool. Lower interest rates will make holding non-yielding gold more attractive. Data on Friday showed that U.S. job growth slowed more than expected in April, while year-on-year wage growth fell below 4.0% for the first time in nearly three years. New York Fed President Williams said on Monday that the Fed will lower its interest rate target at an undetermined point. Investors are paying close attention to the latest developments in the conflict in the Middle East. Palestinian militant group Hamas agreed on Monday to a Gaza ceasefire proposal put forward by mediators, but Israel said the conditions did not meet its demands and continued its strikes in Rafah while planning to continue negotiations to reach an agreement. The gold market continues to face significant upward pressure as it is used to protect wealth from devaluation as well as global geopolitical issues.
Gold technical analysis: Gold prices maintained an upward trend on Monday. In early trading, the price fell back to the 2291 line and rebounded. Asian, European and American markets continued to fluctuate and rise, reaching a maximum of 2332 and closing at 2324. The price fluctuates in the range of 2335-2277. Today, continue to focus on the upper resistance 2332-2338 and the lower support 2281-2277. The short defensive position is currently at the 2352 line. Only by breaking through and stabilizing the 2352 line can the end of this downward trend be confirmed.
In terms of gold's short-term operation today, it is recommended to go short on rebounds and long on callbacks. The upper short-term focus is on the first-line resistance of 2330-2332, and the lower short-term focus is on the 2281-2277 first-line support.
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💡 XAUUSD: Analysis May 24Gold had its second sharp decline in a row, continuing to create a price bar in the form of a bearish marubozu candlestick pattern with a wide range, showing that the downward price thrust is maintained. The false break that created the bull trap above is actually forming a downward thrust in accordance with technical analysis theory. Gold D1 chart structure is currently moving sideways in a bullish trend.
H1 gold continues to have a downward momentum with strong momentum, shown by its high slope and price behavior sticking along the lower border to go down. The bearish model in the form of a Parabolic Curve also confirms a strong downward force, but an excessive state may have formed, making it easier to rebound than to continue decreasing. Today's expectation for H1 Gold is to catch the rebound to sell down from above, not chase down from below.
💡 H1 trend: Gold decreases.
Today trading idea: Sell gold.
💡 XAUUSD: Analysis May 27After 3 consecutive days of decline, especially the last 2 days of strong decline, Gold D1 rebounded at the end of the week. But considering that bar D1 increased with a narrow amplitude and an upper shadow, and closed below half of the amplitude, the upward push was insignificant, and was even still blocked from selling from above. D1 Gold chart structure is reflecting a sideways trend in favor of price increases.
The main trend of H1 Gold is still down, shown by the gradually lower top and bottom structure. The current bullish cross pullback period can create a bear flag pattern - a chart pattern that continues the downward price trend. The main trend of H1 Gold today is to wait for selling from the resistances above.
💡 H1 trend: Gold moves sideways.
Today trading idea: Sell Gold.
XAUUSD - still full of potential for investorsLast week, international gold fees continuously "plunged" after breaking all of the information conquered in April. Kitco News`s present day weekly gold survey consequences confirmed that greater than 3-quarters of professionals accept as true with gold fees are strong or will fall withinside the close to term, at the same time as 1/2 of of retail buyers nonetheless accept as true with the treasured steel may want to pass better withinside the coming days.
Looking at gold's fluctuations remaining week, senior marketplace analyst Darin Newsom of Barchart.com stated that gold is probably to say no this week.
Sharing the equal view, Bannockburn Global the Forex market CEO Marc Chandler additionally sees similarly disadvantage dangers for gold withinside the close to future. According to Chandler, the cause gold set a document excessive early remaining week at 2,450 USD/ounce became due to the fact the marketplace reacted to facts associated with the coincidence that claimed the lifestyles of the President of Iran. However, the power of the USD triggered gold to be offered off and plummet to almost 2,three hundred USD/ounce.
Besides, the lower in call for for gold from Chinese buyers is likewise a drawback for this treasured steel. Chandler forecasts that gold's preliminary resistance this week is at $2,375/ounce. Support is withinside the variety of $2,275 to $2,three hundred according to ounce.
Market strategist Colin Cieszynski of SIA Wealth Management is impartial on gold this week. He stated that the gold marketplace may be quiet this week with out essential events.
Reports launched this week include: Consumer self assurance record, initial record on GDP withinside the first sector of the US, weekly unemployment gain applications, pending domestic sales, Personal intake expenditure reviews at the side of non-public profits reviews withinside the US.
Meanwhile, Chairman Adrian Day of Adrian Day Asset Management believes withinside the power of gold with the expectancy that the marketplace will witness a healing after a first-rate sell-off remaining weekend. Gold's resilience to any decline in fees during the last 3 months has been astonishing, he stated.
Sharing the equal positive view, senior commodity dealer Daniel Pavilonis of RJO Futures stated that the latest decline in gold fees simplest lasted for a brief time and that is a shopping for possibility for buyers. Pavilonis predicts that this treasured steel will probably boom to 3,000 USD/ounce. If the Fed loosens financial policy, gold fees will boom even greater.
XAUUSD | GOLDSPOT | New perspective | follow-up detailsIn this educational video, we delve into the recent surge in gold prices. There has been a notable uptick in gold prices, with XAU/USD recently surpassing the $2,400 mark, for the first time in almost a month. This surge in gold prices has piqued the interest of traders and investors, prompting speculation about the underlying factors driving this upward trend.
The relationship between gold prices and the 10-year US yield, which has remained steady at around 4.4%, has been a focal point for market observers. The cautious sentiment prevailing in the market in recent weeks has provided a supportive backdrop for XAU/USD, offering a degree of stability amidst ongoing uncertainties.
A key development that has influenced market dynamics is the release of softer-than-expected US inflation data for April. This has raised hopes among market participants for potential rate cuts by the US Federal Reserve (Fed), fueling bullish momentum and hinting at potential shifts in market behavior in the near future.
However, the Fed's cautious approach to maintaining higher borrowing costs has introduced a note of uncertainty. The central bank's reluctance to rush into interest rate cuts has the potential to strengthen the US Dollar (USD) and exert downward pressure on gold prices, as higher interest rates could dampen demand for the non-yielding asset.
In light of this recent twist in the perspective of the Fed, how will the market react? This video gives a detailed understanding of the behavioural patterns of market participants ahead of the upcoming week.
XAUUSD Technical Overview:
In this video, we take a detailed look at the XAUUSD chart, combining both technical and fundamental perspectives.
Our focus for the upcoming week is the crucial $2,400 zone, which has significant historical importance and is likely to influence trading activity. If gold maintains its momentum above this level, we could see continued buying interest and potentially new highs. On the other hand, if prices fall below $2,400 and selling pressure continues, it might indicate a shift back to bearish sentiment.
Join me as we break down these factors and explore potential trading opportunities in the gold market. Don't forget to like, subscribe, and hit the notification bell to stay updated with my latest analysis and insights.
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Disclaimer Notice:
Margin trading in forex, commodities, CFDs, stocks, and other instruments carries high risk and may not suit all investors. This content is for educational purposes only to assist with independent investment decisions and is provided for reference. Evaluate your investment experience, financial situation, objectives, and risk tolerance carefully. Consult an independent financial advisor before making any investments. I do not guarantee the accuracy of the information provided and am not liable for any loss or damage from its use. Past performance is not indicative of future results.
Gold remains bearishThe strong performance of the U.S. ADP employment data in April provided new challenges for the Federal Reserve's monetary policy. In this context, the reaction of the gold market is particularly worthy of attention. After the data was released, gold fell back 4 US dollars in the short term and then rebounded. The number of ADP jobs in the United States increased by 192,000 in April, far exceeding the expected 175,000, showing the strength of the labor market. Salary growth slowed: Salary growth for those who changed jobs fell from 10.1% to 9.3% year-on-year. Although it is still higher than the level at the beginning of the year, it shows a certain slowing trend.
Against the backdrop of strong ADP employment data, the Fed's monetary policy decisions have become more complicated. The gold market will pay close attention to the Fed's next moves, as these decisions will directly affect gold's safe-haven demand and investment value. Investors should remain vigilant during this critical period and carefully evaluate market dynamics.
The market is in a weak position, with pressure at 2306 and 2315. Therefore, if you want to short during the day, you must first pay attention to whether 2300 breaks. If 2300 does not break, gold will go short under such extremely weak conditions. Look at the trend point below at 2250. If 2300 breaks and the strength changes, this wave can still rise to 2315 and 2330 highs.
💡 XAUUSD: Analysis May 23Gold had a strong decline yesterday, creating bar D1 with a wide range and closing close to the bottom, showing strong selling pressure during the day. This down day officially closed below bar D1, creating a bearish pinbar that formed a false break above, thus confirming this false break. This is a technical factor that can cause Gold D1 to slow down and keep moving sideways but not increasing again. Gold D1's chart structure is currently cumulative in the price range, with the main tendency to increase. Gold falling and closing below the round number of 2,400 is also a technical factor for weakness.
The downtrend for H1 Gold has formed after a strong price decline and the recent establishment of a new low price bottom. Both bearish momentum and structure support the idea of waiting to sell for H1 Gold today, supported by price action confirming a false break at D1. The selling zone for Gold H1 today will be the confluence of the round number 2,400 above. Because Gold is currently touching support and breaking out of the lower border, showing the possibility of being oversold, selling to the bottom will no longer be a priority.
💡 H1 trend: Gold decreases.
Today trading idea: Sell Gold.
XAUUSD SWING BUYLIMIT PROJECTIONKEY POINTS:
Analyst says gold to drift back to $2,355 if dollar keeps upward momentum
Fed minutes reflected discussion of possiblefurtherhikes
Price rise likely to temper discretionary gold buying - ANZ
Gold prices fell for a third straight session on Thursday after minutes from the most recent Federal Reserve meeting indicated that some officials were inclined to raise interest rates.
Spot gold
GOLD
fell 0.6% at $2,365.49 per ounce, as of 0638 GMT. Bullion hit a record high of $2,449.89 on Monday.
U.S. gold futures
GOLD
were down 1.1% at $2,367.60.
XAUUSD plummeted - any opportunities for current investors?The lower in gold charges specifically triggered the USD to growth once more and the final strain become more than the energy of call for for gold. Selling hobby improved after the treasured steel did not regain the brink of 2,430 USD/ounce. Pressure to promote speedy World gold rate beneath 2,four hundred USD/ounce.
The USD become supported after many US Federal Reserve (Fed) officers issued warnings that the Fed had to be greater cautious and make certain to take gain of the cooling facility earlier than determining to reduce hobby prices for the primary time.
Although US economic coverage has come to be a secondary thing withinside the gold market, taking gain of the timing ought to create promoting strain as it may pressure the Fed to elevate hobby prices once more. In current days, participants of the economic coverage board have stated that even as they're now no longer equipped to reduce hobby prices due to the fact they're nonetheless elevating them, in addition they do now no longer see a manner to elevate them. However, assembly mins display the opportunity of some other acceleration.
Many specialists are constructive that gold charges will retain to growth withinside the close to future, however maximum aren't positive whilst gold will attain 3,000 USD/ounce. Momentum may be given as the principle foreign money of the Fed.
Global golden like. However, even as the Fed has but to determine to unwind economic coverage, advisers are cautiously looking monetary information to look if they may set off the Fed to pivot.
💡 XAUUSD: Analysis May 22Gold decreased yesterday, but with the structure of bar D1 decreasing with a narrow amplitude, lower shadow and closing above half of the amplitude, buying power is still shown from below. Considering that the price is located around the old peak, that is, the resistance zone, the price behavior is happening like that, showing that the buying force is maintained. This is positive for the price increase. The structure of Gold D1 is sideways in the price range, overall it is inclined to increase.
H1 gold moves inside the accumulation price range, showing a sideways period. Because both time frames tend to favor price increases, H1 Gold today can continue to wait to buy from the support areas below. The area just below the confluence with the round number 2,300 adds to the strength of support.
💡 H1 trend: Gold moves sideways.
Today trading idea: Buy Gold.
Accurate trading signals for today
From the daily chart, the gold price is currently in an upward structure, and the trend is well maintained. The moving average system also shows that the gold price has not gone short. But the 4-hour short-term upward trend line has been broken.
From the perspective of the golden ratio, the current support of the gold price is at 0.236. This adjustment is a weak callback. The 1H Bollinger trend closed and then flattened, which is a typical shock signal. Therefore, although the bullish structure on the daily chart is intact, the small cycle is currently in a shock structure. The shape is now in a converging triangle state, so it is difficult to say whether to be bullish or bearish. There is no overwhelming technical reason. So if you say you are bullish or bearish, you really can't see the direction. But in terms of operation, what we can do is to sell high and buy low. According to the trading rules, you should sell when you encounter pressure and buy when you encounter support.
Today's support is at 2406 and the pressure is at 2428. The current price is obviously sold, there is no good position to set a loss, and the profit ratio is not suitable. Therefore, it is also necessary to buy at this position.
XAUUSD May 22, 2024 Is the current correction over?Hello everyone, DEEKOP is ready to bring the most accurate signals and assessments to everyone.
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Yesterday there were many statements from members of the Fed
1. Fed's Jefferson says it's too early to know whether deflation will last.
2. Fed's Mester says economic conditions do not support three rate cuts.
3. Fed's Bostic expects only one rate cut this year.
The main content is to maintain the increase in interest rates. This information continues to support the current adjustment period
Looking at the H1 chart we see
- The current correction process is likely to be an abcde triangle correction wave model.
- This process is likely entering the final stage of the correction. Looking at the price model, we wait for wave e to form to end the correction.
- The correction process is confirmed to be completed when the price breaks through the peak of wave d (2433.8), then the price continues to increase to the target of 2500
Trading plan
If price stays above 2406 we have a good buying zone at 2408
If the price breaks down to 2406 we have a good buying zone at 2401
Note: Sufficient TP, SL to be safe and win the market‼ ️Change data plan will be updated later.
Deekop's analysis is only a personal opinion with a desire to share its views with the community. I'm not always right. But my analysis always reflects my meticulous evaluation of what is best for an investment.
Will gold continue to rise?
First, the gold daily level: From the current pattern, on the one hand, the price broke through the previous historical high of 2432, on the other hand, the 5-day moving average continued to rise, which is a strong unilateral continuation, because it is not a continuous positive, but a two-positive and one-negative pattern; therefore, today may be closed with a small negative cycle, and the next day or two will continue to be a positive unilateral attack, the key support point is still the 5-day moving average, moving up to 2400, today this position continues to be bullish, this week there is hope to hit 2460-2470
Second, the gold hourly level Special: Today's Asian session fell, and the European session was in a range of consolidation; from the figure, we can see that the short-term upper track is suppressed below 2425, and the short-term support is above 2409; before 2425 is broken and stood above, there may be another wave of declines and then stabilized and pulled up. At that time, pay attention to the support of 2409 and the stabilization of the first-line support of 2400; on the contrary, if 2425 breaks through and stands above in advance, it will all be washed back today, engulfing the decline in the Asian session, impacting 2432-2433, and even continuing to break through 2440-2450;
XAUUSD May 21, 2024 Will the price continue to increase?Hello everyone, DEEKOP is ready to bring the most accurate signals and assessments to everyone.
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The war between Russia and Ukraine has not yet found a voice at the negotiating table, plus President Putin's recent visit to China further shows that Russia will not make concessions to Nato. And recently both Russia and Ukraine rejected the French president's call for a ceasefire during the Olympics in Paris on May 17. These moves further demonstrate tensions in the geopolitical situation
The US economy, after a long period of maintaining high interest rates to control inflation, has led to a situation where the economy is showing signs of weakening, although it is not yet in a recession, but with the leading economic index falling. of the US fell 0.6% MoM in April following an uncontrolled 0.3% decline in March. Weaker consumer outlook on business conditions, weaker new orders , negative interest rate differentials and falling new construction permits fueled April's decline. It suggests weaker US economic conditions going forward.
With such potential risks, Gold will continue to set new ATHs until the above conditions are resolved.
Use the Elliot wave principle to evaluate the situation on the H1 chart
- Yesterday gold created a new ATH at 2450, this is the target area of wave 5 that we launched.
- Then the price dropped to 2408 and recovered slightly to 2436, so we have the current gold price in the ABC correction wave.
- Looking at H1, we see that wave a and wave b are likely to have completed and currently the gold price is completing wave c of the correction.
- The expected price range of wave c has 2 target areas: area 2397 and area 2381, this is the target for the end of wave c.
Plan to trade when the price approaches the 2397 or 2381 zone
Note: Sufficient TP, SL to be safe and win the market‼ ️Change data plan will be updated later.
Deekop's analysis is only a personal opinion with a desire to share its views with the community. I'm not always right. But my analysis always reflects my meticulous evaluation of what is best for an investment.