XAUUSD: Can Gold Return to 2780?On Friday, gold prices experienced a slight decline, mainly under the pressure of a stronger dollar and rising U.S. Treasury yields. However, weaker-than-expected U.S. job growth fueled market speculation for a Fed rate cut, cushioning gold’s decline.
In October, due to hurricane disruptions and an aerospace industry strike, U.S. nonfarm payrolls saw a modest gain of just 12,000 jobs, marking the smallest increase since December 2020. Although the dollar initially retreated, it closed up 0.4%, and the benchmark 10-year Treasury yield rebounded from early losses, diminishing the appeal of non-yielding gold.
Gold prices returned to the support zone, aligning with prior predictions. Current chart patterns suggest a potential “W” bottom, signaling bullish prospects, with short-term indicators pointing to a likely upward move. However, a mid-term bottom pattern has yet to form, and bulls should watch for resistance around 2750 in Monday’s trading, as a retest of support remains possible.
With the U.S. election approaching and reports of a potential retaliatory move by Iran against Israel, multiple uncertainties hover over the market. Coupled with a lackluster jobs report, many analysts now see a near 100% probability of a 25-basis-point Fed rate cut next week.
While rate cut expectations might bolster gold bulls, this scenario could already be priced in, meaning gold prices may potentially drop in response to the rate decision. Ahead of this, the U.S. election on Tuesday and initial jobless claims on Thursday will be key factors influencing gold.
In summary, a turbulent week lies ahead for gold, with investors encouraged to remain vigilant and approach trades with caution.
Xauusdlongterm
XAUUSD – Gold looking to soar to new highs … the week of 05 Aug If you expect that every trade will be a winner, please move on. Don’t even bother to read this analysis.
Moving on ..
Gold has been a great performer this year, it was very recent that it made an ATH of 2483.68. It then pulled back (profit taking ??) but very quickly the bulls are back and attacking that level again. Gold looks strong especially since the Fed has signaled a rate cut in Sep.
Another pullback looks likely to me and I expect price will find support either at the uptrend line or the 21 EMA. IMO we will break above the ATH and look for higher round numbers like 2500 and then 2600.
If price moves higher without retracing, I will wait for the next small retracement to take a long. If price breaks below the trendline and continues to move in a bearish manner, that will negate my analysis.
Overall, I am extremely bullish on this commodity and will not be surprised if we end up being in a long trade for an extended period of time.
This is not a trade recommendation. You should be aware that trading carries a high level of risk, so only trade with money you can afford to lose. Please use sound money and risk management, trading without a stop or moving the stop away from price is a recipe for disaster.
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It’s not whether you are right or wrong, but how much money you make when you are right and how much you lose when you are wrong – George Soros
The bullish trend in gold prices became cautious before FEDGold prices (XAU/USD) traded with a mildly negative bias entering the European session on Wednesday and retreated further from the vicinity of the all-time high retested today. before. Traders decided to trim their bullish bets following the recent strong rally witnessed over the past week or so and ahead of the Federal Reserve Chairman`s (Fed) congressional address ) Jerome Powell. Powell's comments will be closely scrutinized for further signals on the Fed's interest rate cut roadmap, which will play a key role in influencing the price dynamics of the US Dollar (USD) and creating The new directional impetus for the yellow metal is not profitable.
Additionally, traders on Wednesday will also be faced with the release of the US ADP report on private sector employment and JOLTS Job Openings data. This could further contribute to creating short-term opportunities around Gold prices ahead of the official monthly US employment details, commonly known as the Nonfarm Payrolls (NFP) report. ) on Friday. Meanwhile, worries about tensions in the Middle East, concerns about a slowdown in China and speculation that the Fed will start cutting interest rates in June are said to be weighing on the silver. green, will support precious metals.
XAUUSD Gold Buy / Sell ?Pair : XAUUSD ( Gold / U.S Dollar )
Description :
Completed " 1234 " Impulsive Waves. Bearish Channel as an Corrective Pattern in Short Time Frame. It has completed the Break of Structure and Retracement. 2036 - 2042 is Acting as a Strong Resistance in Short Time Frame , Possible Entry After Rejection or Breakout
Can we see 1800?This is 3M TF and if you look at 1W+ with RSI you will spot Divergence in every TF. Remember Powell will talk about Interest Rate Decision in about an hour, most likely they don't change and leave the rate as it is. And another thing is if Yield don't back off we most likely to see 1800.
Watch Gold Trading Orders Levels CautiouslyAs astute traders, we must always look for strategic entry and exit points. In this regard, I would like to draw your attention to the resistance levels set at Fibonacci retracement levels of 38.2%, 50%, and 61.8%. These levels have historically demonstrated their significance in the gold market, often acting as crucial turning points for price movements.
Now, you may be wondering, what does this mean for you? Well, it means that by cautiously watching gold trading orders levels, you can position yourself advantageously to capitalize on potential price fluctuations. By being vigilant and analyzing the market's behavior at these Fibonacci levels, you can make informed decisions that align with your trading strategy.
Remember, success in trading requires a balance between risk and reward. While the gold market may present enticing opportunities, exercising caution and diligently monitoring your trades is crucial. Keep a watchful eye on the market, study the price action, and consider employing appropriate risk management strategies to safeguard your investments.
In conclusion, the gold market is currently displaying encouraging signs, with the price maintaining its position over the EMA 50, 100, and 200. The resistance levels set at Fibonacci retracement levels of 38.2%, 50%, and 61.8% offer potential turning points that can be leveraged to your advantage. I encourage you to seize this opportunity but always remember to trade responsibly and cautiously.
SHORT - XAUUSD (D) (30 May 2023)Position Trade - XAUUSD
The Monthly Chart shows that there are SHORT opportunities as it is the only 2nd test of the HTF zone
For a cleaner look of the MN Chart,
In the Weekly chart,
- There is little probability that the price will correct itself before coming down from the WK zone as the trade is already playing out.
In the Daily chart,
- Due to strong price going down, there is little probability that price will retrace back to the D1 zone for another sell in near future.
- Hence, we can expect another zone to be formed for a quality sell if price goes back to the zone
In the H4 chart,
- for smaller risks, wait for price to break a H4 demand zone before placing SHORT trade/s
XAUUSD - GOLD CURRENT SITUATION#XAUUSD
According to the analysis we gave to XAUUSS earlier, the DOWNSIDE WAVE, GOLD went down very fast. Due to the POSITIVE SENTIMENT against the dollar, US10Y rose due to this. Then Ibem became a GOLD SELL. Some FED COMMENTS and NFP DATA were very helpful.
But last day all those LABOR DATA and INFLATION DATA INDICATORS were POSITIVE, so GOLD was slightly SELL. It is definitely a very important indicator for the FED. Currently, MARKET RISK is being OFF. CPI DATA was quite POSITIVE this week.
Anyway, we expect that GOLD will go UP to 2033 LEVEL. After that, GOLD may go down to the 1855 level with the FOMC UPDATE. Be careful..
Gold Breakdown Analysis 12/04/2023Dear traders gold respected last setup and we should be careful for tomorrow we have cpi and fed so don’t risk to much i expect gold if he breaks above 2006 you should look for buy wait for price action and if he reject zone 2015 and price close below you should look for sell. Trade safe and see you soon
Good luck
XAUUSD BULLISH CONTINUATION 26.03.23Reason for Bullish
Technical
1. Retest Support of 1960 and Make Futher Bullish Movement
2. Expecting Breakup in Ascending Triagle Pattern which Push Higher to 2074
Fundamendal
Dxy Clear Downtrend Continuation
Retesting 103 and Make Lower Which Moves towards Our pattern
Overall Possibel Outcomes
XAUUSD BUY @ 1960
SL 1930
TP 1 2000
TP 2 2074
XAUUSD- IDEA THAT WE MUST TAKE!Hey Everyone, due to strong bullish momentum on DXY we have another highly probable buying area to consider taking. We are expecting a slow down on bullish momentum on DXY next week and that is why it is likelihood for this setup to work .
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What to Do When Shorting BTCUSDT is Trapped?
As expected, due to the increasing risk aversion sentiment, BTCUSDT has continued to rise and has reached my second target of 27K, and the next target will be to push towards 30K.
As previously emphasized, when the main force begins to push up, they will not provide very good entry opportunities, so any dip is an opportunity to follow the long position. 25K will be a short-term bottom. If you have friends who are shorting Bitcoin, I personally suggest closing the short position if the market has the opportunity to fall near 25K, and follow the trend to go long. If you have a lot of trapped funds at the moment, you can leave me a message and I will provide you with the most accurate solution.
Similarly, if you missed my first layout at 23K, and second layout at 27K, do not miss the next layout at 30K. I will continue to update my personal operations, so please stay tuned, and hope you all can be winners!
XAUUSD : WEEKLY TRADE PLAN UPDATEHi all
In the daily timeframe , gold has now broken through the previous low of 1861.430 and is descending to the next support area . I expect a daily breakout, followed by a pullback to complete the weekly structure. LH
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XAU NEAR FUTURE ANALYSIS (4H Chart)Technical Analysis Summary
XAU/USD
TREND ANALYSIS
We have 1 Down Trend in Red (Long Term)
Be careful trends need to be modified when broken to the new peaks(Downtrend) and lows (Uptrend).
FUTURE PREDICTIONS
We have many resistance and support levels that I have mentioned above.
I use thickness as an indicator of strength of levels (ONLY FOR VISUALS).
White Levels are levels that represent tight stoplosses or support and ressitance levels from the past to show old publications.
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XAU/USD "GOLD" LONG TERM VIEWI am bullish on gold for the long-term based on both technical and fundamental analysis. From a technical perspective, gold has been forming a strong upward trend and has recently broken through key resistance levels, indicating a potential continuation of this trend. From a fundamental perspective, gold is considered a safe haven asset, and with ongoing geopolitical tensions and uncertainty surrounding the global economy, I believe that demand for gold will continue to be strong. Additionally, gold has been traditionally been viewed as a hedge against inflation and currency devaluation. Overall, I believe that gold is a strong buy at current levels and traders should consider adding it to their portfolios for long-term growth potential.
Please do your own research and consult with a financial advisor before making any investment decisions.