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XAUUSD on May 30, 2024, the rally is about to beginWith the wave 5 targets projected on the chart, we have 2 target zones: zone 1 is 2322.7 and target zone 2 is 2311.5. Today will release news on unemployment claims, preliminary GDP, and pending home sales, with forecasts worse than last period, if tonight's actual index reflects correctly. This seems to signal that the US economy is being affected by monetary policy due to maintaining current high interest rates. Tomorrow is an important day to announce the PCI index (Index of price changes and consumer goods purchased by consumers excluding food and energy). If this index cools down, it could influence the Fed to loosen current monetary policy. Looking back over recent times, we see that the CPI inflation index has begun to show signs of decreasing, combined with economic pressure that may cause the Fed to decide to loosen its monetary policy, especially tomorrow if PCI index cooled down. Looking at H1, we see that the price has completed wave 4 and is continuing to complete wave 5. - We see that the current price has broken below the supply and demand balance zone as shown on the chart - With the wave 5 targets projected on the chart, we have 2 target zones: zone 1 is 2322.7 and target zone 2 is 2311.5. - We wait for the price to reach the 2322.7 or 2311.5 areas to find reversal signals to decide to buy.
OANDA:XAUUSDShort
by DEEKOP
Continuing downtrend, entry sell todayAnalysts say world gold prices dropped after an official of the US Federal Reserve (FED) commented on monetary policy. This person believes that high US interest rates will be kept stable, or even increased if necessary. Immediately, the currency market reacted. The USD increased in price compared to many other strong currencies, putting pressure on gold prices today. In particular, US bond interest rates suddenly increased to 4.6%. That means the value of bonds declines. This has motivated investors to increase their bond purchasing power to earn profits. As a result, very little money flows into precious metals. A sharp decline in world gold prices is inevitable.
OANDA:XAUUSDShort
by FalCol_TradingMaster
Trading strategy today, continue to sell lightly and wait to buyWorld gold prices turned down sharply with spot gold down 24 USD to 2,336.9 USD/ounce. Gold futures last traded at 2,336.9 USD/ounce, down 25.5 USD compared to yesterday morning. The recovery of the USD, rising bond yields and "hawkish" comments from US Federal Reserve (Fed) officials have weighed on sentiment in the gold market, while investors wait. Look forward to the key inflation report later this week for more insight into the Fed's policy path. A 0.4% rise in the dollar made gold more expensive for buyers holding other currencies, while US 10-year Treasury yields rose to a nearly one-month high, increasing opportunity costs. hold gold. This week, Minneapolis Fed President Neel Kashkari emphasized that the US Central Bank should wait for evidence that inflation is decreasing before cutting interest rates. Although gold is under a lot of pressure due to interest rate expectations, commodity analysts at UBS say that the precious metal's upward momentum is far from over with forecasts of prices rising to $2,500/ounce. in September and reach 2,600 USD/ounce by the end of this year. Previously, this Swiss bank forecast levels of 2,400 USD and 2,500 USD/ounce. USB also forecasts that gold price will increase to 2,700 USD/ounce by June 2025.
TVC:GOLDShort
by FalCol_TradingMaster
XAUUSD May 29, 2024 Is the upward correction over?Looking at the current H1, we see that the price has reached the first target of wave 4 Looking at the preliminary forecast of US economic indicators tomorrow night we see. - Prelim GDP q/q decreased from 1.6% to 1.2% - Unemployment Claims increased from 215K to 218K - Pending Home Sales m/m decreased 3.4% to -1.1% US economic indicators show that the economic situation appears to be weakening due to tightened monetary policies. Maintaining high interest rates today makes it difficult for people and businesses to access capital, leading to a decrease in people's demand for housing consumption, in addition to pushing up raw material prices, leading to increased commodity prices. making it difficult to maintain operations of factories, leading to an increase in people applying for unemployment benefits. This continues to put pressure on the Fed to loosen monetary policy in the near future. Looking at the current H1, we see that the price has reached the first target of wave 4 and the price is reacting sideways in this area. If the price breaks below the 2352 area and then recovers without exceeding the previous peak area, this is a very good sell down signal. - If the price rises above the 2364 area, we wait for the target wave number 2 of wave 4 to find a sell signal. - After the price completes wave 4, it will continue to trend with wave 5. From the current data, we will get the expected targets of wave 5 at target zone 1 at 2322 and target 2 at zone 2311. - In the target areas of wave 5, we will find suitable conditions to enter a BUY order 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.
OANDA:XAUUSDShort
by DEEKOP
Still believe in gold, short-term selling strategyWorld gold prices continued to increase with spot gold price at 10.2 USD increasing to 2,360.9 USD/ounce. Gold futures last traded at $2,362.40 an ounce, up $9.90 from the bright spot. The world's yellow metal continues to gain modestly, fueled by the weakening of the USD, while investors are still eagerly awaiting US emission data later this week for more clarity. about interest rate cuts. The US Dollar Index fell 0.2% to its lowest in more than a week, becoming bullish faster than other currency holders. TD Securities commodity strategist Bart Melek said that the monetary policy dreams of the US Federal Reserve (Fed) could very well create gold that cannot be closed and future forums are very negative. lots of data. However, this expert continues to maintain his optimism about gold. The focus this week will be on the core US personal consumption expenditures index (PCE), the Fed's desired product quantity measure, which will be released on Friday. Considered a hedging tool, gold benefited after minutes from the Fed's latest meeting last week showed that the US Central Bank did not discuss maintaining high interest rates for a longer period but also talking about the possibility of increasing interest rates in the context of finding that it is still "tough" and there is still a difficult path to achieving the 2% target. Traders are assessing the possibility of a rate cut of around 63% in November.
OANDA:XAUUSDShort
by FalCol_TradingMaster
XAUUSD:Bullish, pay attention to the resistance near 2368 The gold small-level trend indicator has formed a bullish trend. Before the US market, the main trend is long. Today's important resistance is still around 2368. The unemployment benefit data to be released during the US market is expected to be favorable to gold bulls. In addition, there is a choice of direction in the market at present, so the volatility will be very intense at that time. If I make a mistake in my prediction, if there is no good risk management measure at that time, the loss will inevitably be relatively large, so everyone must be cautious when trading and do not put their accounts at risk of being burned. If you have any questions, feel free to leave me a message. Good day, good luck to everyone!
FOREXCOM:XAUUSDLong
by Allen_Ex
Go long gold first, then go short goldGold has tended to be volatile in the past two days. As I predicted a few days ago, after the sharp decline, gold may digest the sharp decline in a volatile manner. Although the current market fluctuations are not large, it is still profitable. Judging from the current trend, the short-term decline has been alleviated, and the bulls have the motivation to continue to rebound. However, last week's high black candlestick chart was engulfed, laying the foundation for bearishness this week. The overnight strong impact also failed to break through the 2365 key point, indicating that there are still a lot of short pressure above 2360. So overall I still tend to be bearish on gold. However, gold has now fallen back to around 2340. Before gold fails to fall below the 2335-2330 area, gold bulls still have room to fight back. So for the time being, I will not be too bearish on gold. In terms of short-term trading, I think both long and short sides have the potential to make profits. So it has fallen back to around 2340. We can first participate in short-term long gold. After gold rebounds, we can consider shorting gold at the right time! I share detailed trading strategies and trading signals every day. You can follow the channel at the bottom of the article to get detailed trading signals and learn trading logic. People who are already in it have already made a lot of money. Let us enjoy the journey of making money together. !
OANDA:XAUUSDShort
by alongwineer
XAUUSD: 2368-2373 is a good short trading range In the past day, gold reached a high of around 2364, just one step away from the resistance. Today's focus is still on whether the resistance is broken or not. Judging from the current market situation, I still want to try the resistance. It depends on whether I can accumulate enough bullish power in the 2347-2334 range during the backtest. If I can, then there is hope for the first attempt at resistance today. If I want to break through the resistance and achieve the resistance in the range of 2383-2391, there is little chance today. The focus is on tomorrow's data. If it is favorable to gold bulls, then this possibility will be greater. Today's trading focus is on the resistance range of 2368-2373. If it can reach this position, it will be a better short trading area. If it cannot be reached, continue to maintain the strategy of going long at a low position. Friends who need detailed trading signals can leave me a message to receive them.
FOREXCOM:XAUUSDShort
by Allen_Ex
Gold trading strategy today, short-term sell entryWorld gold prices today (May 29) increased in the context of a weakening USD, while investors are still waiting for US inflation data later this week to judge when the Fed will cut interest rates. . The US Dollar Index fell 0.1% to its lowest in more than a week, making gold cheaper for holders of other currencies. Investors will monitor the US core personal consumption expenditures (PCE) price index published on Friday (May 31). This index is considered the main inflation measure of the US Federal Reserve (Fed). Military conflicts taking place in the Middle East and the Russia-Ukraine war are continuing to cause geopolitical instability, reinforcing gold's appeal as a safe-haven asset. Bob Yawger of Mizuho Bank said that according to some sources, a member of the Egyptian security agency was killed in a firefight with Israeli forces. Additionally, central banks around the world have steadily increased their gold holdings over the past two years, with China's central bank being one of the most active buyers.
TVC:GOLDShort
by FalCol_TradingMaster
Gold shock correction nears endMarket participants will also be closely watching comments from Fed officials next week. The chance that the Fed will adjust policy in September remains slightly above 50%, according to data from the CME Fed Watch Tool. Market positioning suggests the dollar could face selling pressure if Fed policymakers leave the door open to a rate cut in September. On the other hand, if Fed officials favor a rate cut closer to the end of the year, the U.S. dollar may hold its ground, making it difficult for gold to gain traction. However, policymakers still have several inflation and employment data to assess before September, and they may not send any clear signals on the timing of a policy shift. The market will also see appearances from several regional Fed presidents. Minneapolis Fed President Kashkari will speak in New York; Richmond Fed President Barkin will speak at an event in South Carolina. New York Fed President Williams will speak at a conference in California; Fed Governor Cook will speak in Washington, D.C., and Chicago Fed President Goolsby will speak at the Economic Club of Minnesota. In terms of short-term rhythm, looking at the market price in four hours, the pressure position is obviously at the integer mark of 2,400 US dollars, and there is no physical closing line above 2,400 US dollars. At best, it was suppressed by a virtual break of $2,400. However, as the market price hit the $2,400 mark many times and failed to form an effective breakthrough, it then adjusted downward and corrected, which is what we often talk about accumulating strength. If US$2,400 to US$2,292 is regarded as the first wave downward revision, then US$2,252 to US$2,282 is the third wave downward revision. The correction decline is not a decline in the main trend, and the maximum correction wave does not exceed three waves. And the decline in each wave will be compressed. This wave, which is the third wave correction, will be based on the high point of $2327. Combined with the double bottom position of 2267, there is a high probability that the correction will be completed at the $2267 line. So that means the area around $2,267 is what we think is the correction low. In terms of specific layout, the third wave of downward revision has not yet completed, and next week it is still necessary to make a high-altitude pullback layout, and then retrace $2,267 before making a backhand. At the beginning of the week, focus on 2310 to suppress the first short-selling layout. Below, focus on the 2292, 2282 and 2267 positions. Focus on the first-line opportunity of touching 2267, and start to place long orders on the backhand. When the correction is completed, the bulls will return! Taken together, in terms of short-term gold operation ideas next week, Jin Shengfu recommends to focus on longs on callbacks, supplemented by shorts on rebounds. The top short-term focus will be on the 2308-2310 first-line resistance, and the bottom short-term will focus on the 2265-2267 first-line support. All friends must keep up. Rhythm. It is necessary to control positions and stop loss issues, set stop losses strictly, and never resist orders. The recent market turmoil has been relatively large, and opportunities and risks coexist. Control risks and gain profits.
COMEX:GC1!Short
by Kevin-analyst9
2
XAUUSD May 28, 2024 How will gold inflation cool down?We can observe the expected target areas above to find reversal signals to enter a sell order. With recent signs of cooling inflation and the fact that the US economy in particular has been directly impacted by high interest rates, the employment rate has decreased. These things will make the Fed's statements no longer resolute in maintaining high interest rates. In addition, the European central bank ECB also announced data to support the interest rate cut in June. Signals show that gold will continue to be supported in the near future to continue its upward price trend. Looking at H1, we see that wave 4 is about to complete. With the price data from the morning of the previous day, we measured the price target at the 2351-2355 range, but now that we have new price data, we have more information. The 2 new target areas are area 2362.5 and area 2371 - Plus the momentum in the H4 frame is still in the overbought zone, this shows that the upward price momentum is showing signs of weakening, besides the H1 momentum is increasing and is also about to approach the oversold zone. reinforces the goals of wave 4 - We can observe the expected target areas above to find reversal signals to enter a sell order. 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.
OANDA:XAUUSDShort
by DEEKOP
2368 is the key point, a double bottom cannot be ruled out Gold currently continues to focus on the resistance near 2368, which is the focus of the current trend shift, so if you are trading in the general trend, this position cannot be ignored. If it cannot break through 2368, bulls may counterattack at any time, so the risk of going long at a low level is relatively small. But once it breaks through 2368, you need to be wary of another outbreak of shorts. If you want to chase longs, you must be cautious. As long as there is profit, you must not be too greedy. Taking profits in time is the safe way to trade. The view of the general trend remains unchanged, the strong resistance for rebound is 2368-2383-2391, and the short target is 2280-2230-2200. I wish everyone good luck and feel free to leave me a message if you have any questions.
FOREXCOM:XAUUSDLong
by Allen_Ex
Gold trading strategy today, uptrendToday's gold price is trading at 2,352 USD/ounce, a sharp increase of 18 USD compared to the previous day's opening price of 2,334 USD/ounce. World gold prices fluctuated in the context of data from the Commodity Futures Trading Commission (CFTC - US) showing that gold investment funds increased their buying positions by 194,000 contracts. This information can make many investors expect the gold market to heat up. Therefore, they took advantage of putting capital into this precious metal. Gold price today has upward momentum. On the other hand, the world geopolitical situation becomes more complicated as the military conflict between Israel and Hamas forces becomes increasingly tense. Since then, many financial institutions have increased their need to shelter capital in gold. Today's increase in gold prices in the world is understandable.
TVC:GOLDLong
by FalCol_TradingMaster
Optimistic about Gold, increased then decreased againWorld gold prices increased with spot gold increasing by 15 USD to 2,350.7 USD/ounce. Gold futures last traded at 2,352.5 USD/ounce, up 18 USD compared to yesterday morning. World yellow metal prices increased slightly at the beginning of the week as investors expected an important inflation report released this weekend that would change the US Federal Reserve's (Fed) view on cutting cuts. interest rates. Recently, the Fed's positive interest rate stance has caused great pressure on the precious metals market. According to UBS analyst Giovanni Staunovo, gold has suffered from more hawkish comments from Fed officials and better-than-expected US economic data. Bullion has lost $100 since the precious metal hit a record high of $2,449.89 an ounce last week. According to the latest Fed meeting minutes, US Central Bank officials indicated that it may take longer than expected to bring inflation down to 2%. According to FXTM market analyst Lukman Otunuga, in the current environment, the gold market will be sensitive to inflation data. Accordingly, if the report shows downward price pressure, it may arouse hopes of cutting interest rates by the Fed and boost gold prices. On the contrary, if PCE is higher than market forecasts, it will deal another blow to expectations of Fed interest rate cuts and cause gold prices to fall even deeper. This expert said that the downward momentum could bring the price to the support level of 2,300 USD/ounce or lower.
OANDA:XAUUSDLong
by FalCol_TradingMaster
XAUUSD May 27, 2024 gold's reaction after a sharp declineWith investors' expectations of interest rate cuts in the market increasingly decreasing, especially when statements from Fed members last week all hinted that there will be no plans to cut interest rates in the near future. This interest rate causes the expectation to buy gold to decrease, leading to a weak demand for accessing the market. Looking at H1 last weekend, we witnessed a strong decline according to the Elliot wave principle. This strong decline may be a characteristic of wave 3 of wave c in the abc correction wave as shown on the chart. - Currently the price is in a recovery phase and this could be wave 4. We measure the target of wave 4 ending at the price range 2351-2355 - Then the price continues to decrease to complete wave 5 as well as wave c, then we have the target price area of this wave 5 at 2322.7 or 2311.5 Trading plan - We can sell at area 2351-2355 when candlestick reversal signals appear in this area. - We can buy in 2 areas 2322.7 and 2311.5 when candlestick reversal signals appear in this area 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.
OANDA:XAUUSDShort
by DEEKOP
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.
FOREXCOM:XAUUSDLong
by Allen_Ex
XAU/USD 27 May 2024 Intraday AnalysisH4 Analysis: Analysis/Bias remains the same as analysis dated 24 May 2024 -> Swing: Bullish. -> Internal: Bullish. Price has printed a bullish BOS. After bullish BOS, expectation is for price to pullback. As previously mentioned, price was showing very early signs of pullback, however, we did not have indication or confirmation. I also previously mentioned that first indication, but not confirmation, would be for price to print a bearish CHoCH. The CHoCH line is denoted with a blue dotted line. Price has now printed a bearish CHoCH which indicates, but not confirms pullback initiation. Price is now in discount of 50% EQ and close to a H4 demand zone where price we expect to see a reaction. However, price has pulled back deeper mitigating the whole H4 demand zone and beyond. This could indicate that price was seeking liquidity to the extreme of the H4 demand zone. Conversely, if price cannot sustain its bullish momentum, it may seek to mitigate the H4 demand zone below. Intraday expectation: Scenario one: Price to continue bullish to target weak internal high Scenario two: Price to continue bearish and react at H4 POI below to then target weak internal high which is denoted with a blue dashed line. H4 Chart: M15 Analysis: -> Swing: Bullish. -> Internal: Bearish. Price has printed a series of bearish iBOS' (Internal breaks of structure). After every iBOS price is expected to pull back. Price is now contained within an internal range. Intraday expectation: Price is currently trading at premium of EQ and reacting at an M15 POI. Price had previously reacted at the M15 POI but the move to target internal low was not sustained. Expectation is for strong internal high to hold, price to react at M15 POI before targeting weak internal low. M15 Chart:
OANDA:XAUUSD
by Khan_YIK