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Xauusdoutlook

Is Gold's correction over?In my recent analyses, I warned that a significant correction in Gold prices was inevitable. True to this prediction, the election of Donald Trump triggered a sharp 1,000-pip drop in Gold's value. However, yesterday, the market rebounded strongly, recovering 700 pips from that initial decline. The big question now is whether this correction has run its course. In my view, we may have reached a bottom, and Gold could be poised to resume its overall uptrend. I’m currently looking for buying opportunities on dips.
OANDA:XAUUSDLong
by Mihai_Iacob
Uncertainty in Gold: Is a New Leg of Correction on the Horizon?Yesterday, OANDA:XAUUSD exhibited significant volatility, with sharp fluctuations both upward and downward. However, by the close of the session, the price remained relatively unchanged, lacking a clear directional trend. The current price movement suggests a phase of consolidation, indicating that a more definitive direction may emerge soon. Traders are now observing key levels that could guide future moves. On the upside, the 2663-2665 zone is seen as a resistance level, which could signal a bullish breakout if breached. Conversely, the 2645-2650 range serves as a support zone, indicating a potential bearish move if the price falls below this level. From a personal perspective, I anticipate that gold might break to the downside, leading to a new corrective phase that could potentially drive the price toward the 2600 level. That said, this is merely my view, and there is always the possibility of being wrong. Therefore, my invalidation point for this bearish scenario would be a break above the established resistance zone, which would signal the need to reassess the situation. In conclusion, while the market remains in a state of indecision, these key levels provide traders with important reference points to monitor for potential breakouts or reversals in the near future.
OANDA:XAUUSDShort
by Mihai_Iacob
9
XAU/USD: Is the 2650 Break Sustainable or Driven by Emotion?Yesterday, OANDA:XAUUSD (Gold) broke back above the 2650 level, a point of significant psychological and technical importance. This level is critical due to the confluence of a horizontal support line and the falling trendline of the down-channel pattern. While this upward break may seem promising, I believe it is not likely to be a sustainable move. In my view, this breakout appears to be driven more by emotional reactions rather than genuine market demand. As a result, I believe the current correction for Gold is not yet complete, and we could see another downward move in the near future. From a technical perspective, the 2650 level acts as a critical "line in the sand." Should the price drop back below this level, the first target would likely be the recent low, with the potential for an extended decline towards the next major support zone around 2590. This area marks an important technical level that could offer stronger support if the downtrend continues. At the time of writing, I am currently out of the market, and waiting for further clarification. I am particularly looking for a decisive drop back below 2650, which would reinforce my bearish outlook and provide confirmation for a potential short trade.
OANDA:XAUUSDShort
by Mihai_Iacob
5
XAUUSD: Fed Chair Powell Speaks!Late on Tuesday, US President Joe Biden expressed concerns about China's significant challenges, sparking fears about the global economy and a potential conflict between the US and China. These apprehensions have also prompted gold buyers to take action. Adding to this, the Wall Street Journal (WSJ) reported that the Biden administration is contemplating imposing additional limitations on the export of artificial intelligence chips to China. This move is driven by mounting concerns over the potential technological advantage that US adversaries could gain. Support levels: 1,903.80 1,888.10 1,870.15 Resistance levels: 1,924.05 1,933.50 1,941.90
OANDA:XAUUSDLong
by Sphyn-Trader
29
XAUUSD DETAILED Video Analysis, with a trading plan👉I believe that "right or wrong" mentality is a fundamental flaw of any beginner. In reality, a trader is right only when he executes the system and follows his rules, and he's wrong only when he's taking random setups. A trader should find a system he's willing to work with long-term, hindsight test, backtest and then execute live, then refine until perfection. 🚀Thanks for your BOOSTS and support🚀 💬Send your comments and questions below, share your ideas and charts, I'll be glad to talk to you💬
Editors' picks
OANDA:XAUUSDLong
by Yelli_trades
59
XAUUSD WEEKLY, AT CRITICAL LEVEL, BELOW 1877 TESTING 1835XAUUSD formed candlestick pattern: Long Upper Shadow, Bearish Signal. Break & Hold Below 1877, Cancel Bullish Medium Term Outlook. Turned to Neutral. Potentially Testing 1835 (MA 50 & 100 W) & 1785. As a reference, You can also see my XAUUSD H1 bearish outlook www.tradingview.com ABOVE 1660, BUY ON WEAKNESS. Break & Hold Above 1998, Bullish Medium Term Outlook Resume. Break & Hold Below 1660, Bearish Medium Term Outlook. But, LONG TERM OUTLOOK STILL BULLISH !
FOREXCOM:XAUUSD
by Wahyu_Luck
XAUUSD, WHILE BELOW 1915 STILL BEARISH TO TARGET 1889 & 1877XAUUSD reversed and turned to neutral after broke 1948. Then, quickly turned to bearish after broke 1915. As I said in the previous idea, "But, if Break below 1915, outlook bearish , open the way to target 1889 & 1877." Now, XAUUSD still heading to 1889 & 1877. Strong Support 1877, if break then cancel medium term bullish: medium term outlook neutral. Break Below 1877, could open the way to target 1853 & 1818. Resistance at 1915 & 1948.
FX_IDC:XAUUSDShort
by Wahyu_Luck