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XAUUSD | GOLDSPOT | New perspective | follow-up detailsThe price of gold surged significantly on Friday, driven by a risk-averse sentiment stemming from escalating tensions in the Red Sea. The US and the UK responded to Houthi's attack on a US ship on Thursday, prompting a surge in gold purchases as the conflict in the Middle East intensified. Additionally, the yellow metal received a boost from the decline in US Treasury bond yields, fueled by growing speculation that the US Federal Reserve would embark on aggressive rate cuts as early as March. Simultaneously, the latest US inflation report unveiled that producer prices, or the PPI, fell below expectations, with the monthly PPI dropping by -0.1%, contrary to the anticipated 0.1% increase. As of now, the market sentiment remains inclined towards an upward trajectory, following a rebound from the weekly lows in price action. XAUUSD Technical Analysis: In this video, we dissected the XAUUSD chart from a technical standpoint, analyzed the key levels, analyzed historical price moves, market behaviors, and buyer-seller dynamics, and uncovered potential trading opportunities. The $2,035 zone will be our center stage for this week. Its historical significance makes it a crucial point. If the bullish momentum is sustained then a continued buying pressure above this zone will serve as a platform for new highs. However, if price action drops below the $2,035 level and selling pressure persists below the zone, we could witness renewed selling pressure. Dive into the latest Gold market dynamics! Stay informed for strategic investment decisions. #GoldMarket #SafeHavenAssets 📺🔔💼 Disclaimer Notice: Please be aware that margin trading in the foreign exchange market, including commodity trading, CFDs, stocks, and other instruments, carries a high level of risk and may not be suitable for all investors. The content of this speculative material, including all data, is provided by me for educational purposes only and to assist in making independent investment decisions. All information presented here is for reference purposes only, and I do not assume any responsibility for its accuracy. It is important that you carefully evaluate your investment experience, financial situation, investment objectives, and risk tolerance level. Before making any investment, it is advisable to consult with your independent financial advisor to assess the suitability of your circumstances. Please note that I cannot guarantee the accuracy of the information provided, and I am not liable for any loss or damage that may directly or indirectly result from the content or the receipt of any instructions or notifications associated with it. Remember that past performance is not necessarily indicative of future results. Keep this in mind while considering any investment opportunities.
PEPPERSTONE:XAUUSD
by darcsherry
XAUUSD Is this a dead-cat-bounce?Gold (XAUUSD) is on the 2nd straight bullish 1D candle after Wednesday's 2001.50 bottom. With this rebound it has recovered the 1D MA50 (blue trend-line), which it broke and closed below it on Wednesday. However this is the only (so far) divergence from the early 2023 pattern, which started with a massive reversal on the 1811.50 - 1805.00 Support Zone, the rally turned into a Channel Up and then reversed to a Channel Down below the 1D MA50 that hit in succession the 0.382, 0.5, 0.618. As a result, as long as the (dotted) Channel Down holds, we remain bearish, aiming at 1973 (the 0.382 - Support 1 Zone), which is marginally above the 1D MA200 (orange trend-line). Notice also how symmetrical the 1D RSI sequences between the two patterns are. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
FX_IDC:XAUUSDShort
by TradingShot
Gold- 2015-2020 zone remains keyIn my post from yesterday, I mentioned that OANDA:XAUUSD had broken below support. I advised that any rallies back to that zone should be considered for selling. Following my own advice, I executed the sell, and despite an initial drop, the market reversed, resulting in my trade currently being at a loss. Setting aside my specific trade situation, let's objectively analyze the market. We observed an initial break below support followed by a reversal back above. This pattern may suggest a false break of support, a hypothesis that would be confirmed if the price rises beyond 2035 and approaches 2040. In such a scenario, the medium-term bullish trend would remain intact, and we could view the $2,000 level as a robust support. On the contrary, if there is a subsequent break below 2015, it would validate my initial perspective, exerting downward pressure on the $2,000 level once again and potentially exposing 198 For now, I wait and see, knowing that losing trades are part of this business.
OANDA:XAUUSD
by Mihai_Iacob
2
Gold could continue down and drop under 2k In yesterday's post, I said there's a good chance OANDA:XAUUSD might go below the important 2020 support level. If that happens, we could see a change in the medium-term trend. Bears were in control all day and managed to break that level, hitting a low of 2002. Technically, breaking the upward trend line, smashing through horizontal support, and setting a new low for the year suggests XauUsd might keep going down, with 1980 as the likely next stopping point. The bearish scenario is negated by a break back above yesterday's high
OANDA:XAUUSDShort
by Mihai_Iacob
1
GOLD (XAUUSD): Detailed Technical Outlook 🥇 After a breakout of a resistance line of a bullish flag pattern on a daily, Gold is currently retesting that. We can see a perfect confluence between a horizontal support and a falling trend line. A bullish movement may initiate soon. Your bullish confirmation can be a bullish breakout of a falling parallel channel on an hourly time frame. Patiently wait for a breakout and be prepared to buy then. ❤️Please, support my work with like, thank you!❤️
OANDA:XAUUSDLong
by VasilyTrader
1
XAUUSD First 4H Death Cross in 4 months. Will it reverse?Gold (XAUUSD) followed our January 08 buy signal (see chart below) and rebounded on the 1D MA50, easily hitting the 2040 Target: This time we have a distinct technical formation arising as the pair is forming the first 4H Death Cross since September 28 2023. In fact, the price action is very similar to the Death Cross that was formed a few days prior that (September 14). After a 0.786 Fibonacci rebound, the price collapsed to a new Low. As a result, we see a rise to 2070 (just below the 0.786 Fib) as a realistic short-term action, but below the 4H MA50 (blue trend-line) we will short the break-out and target Support 2 at 1972.40 (just above the 1D MA200 (yellow trend-line)). ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
FX_IDC:XAUUSD
by TradingShot
XAUUSD : Gold prices and worries about geopolitical instabilityWith the war situation in the Middle East continuously escalating, gold prices may continue to increase next week. In the past week, although the gold price had a downward adjustment after the US CPI data was released, the price immediately rebounded after the USD weakened because the market continued to expect the Fed to cut reduce interest rates next March. In addition, escalating geopolitical tensions in the Middle East have also contributed to the increase in gold prices. Gold experienced a steady rise near the weekend thanks to geopolitical tensions and weakness in the US dollar. The coordinated attack between the US and UK on the Houthi rebels in Yemen in recent days has made the market concerned that the war situation may gradually get worse. In addition, US government bond yields have also decreased slightly over the past month as the market continues to expect the Fed will cut interest rates in the near future. According to CME Fed Watch, traders are expecting the Fed to reduce interest rates by a total of 150 bps this year with the first reduction starting in March. This has caused the 2-year US government bond to fall to 4.15 % from a multi-year record high of 5.26% in October 2023.
OANDA:XAUUSDShort
by SantaTradeGold
Gold could rise to 2060Analyzing OANDA:XAUUSD in light of the most recent data, the headline Consumer Price Index (CPI) for the previous month exceeded expectations. It recorded a year-on-year increase of 3.4%, surpassing the anticipated 3.2%. Additionally, the core gauge outperformed predictions, reaching 3.9%, surpassing consensus estimates by one-tenth of a percent. Initially, this data triggered a decline in the price of Gold, but this downturn was brief, and the price swiftly rebounded back into its familiar range. Furthermore, a closer look at the chart reveals that the price, once again, reversed from the 2020 confluence support zone, which, in my opinion, contributes to a bullish scenario. As I discussed in yesterday's post, confirmation of the reversal still requires a break above 2060. In such a scenario, the upward movement could intensify toward the 2060 resistance, with a high probability of extending to 2080. In summary, my bullish sentiment has strengthened compared to yesterday. In my view, purchasing on dips against yesterday's low seems to be a prudent strategy. Best of luck! Mihai Iacob
OANDA:XAUUSDLong
by Mihai_Iacob
3
Gold- Levels to watch for the next 500+ pips moveAs previously discussed, OANDA:XAUUSD had a rough start to the year, experiencing a decline of approximately 600 pips. However, bulls successfully halted this descent precisely at the support zone from 2020. Since reaching Monday's low, the price has entered a consolidation phase, fluctuating between distinct levels of support and resistance. This prompts a crucial question for swing traders targeting moves of 500 pips or more: What is the likely direction from here? On one hand, there is evidence of a reversal from support. Considering the overall bullish trend, one could anticipate a resumption of the trend with a potential test of the 2080 resistance and, possibly, a surpassing of the 2100 mark. It's essential to note, however, that achieving this scenario requires confirmation, specifically a clear break above the 2040 level. On the other hand, a breach below the 2020 support exposes the recent lows around 1980. More significantly, such a move would signify the establishment of a lower high in the start of the year price and, potentially lead to a further decline to 1930. P.S: At this moment I hold a buy trade with only 50% of my usual volume and, as explain, I am waiting for a clearer picture Best of luck! Mihai Iacob
OANDA:XAUUSD
by Mihai_Iacob
11
Gold- Reversal to the upside is loomingIn my yesterday's comment, I said that OANDA:XAUUSD could have found a bottom in 2020 important support. After a spike in 2040 local resistance during yesterday's session, the drive dropped again, but this time stopped at 2024 making a higher low. Although the falling trend line that started at the beginning of the year is not broker to the upside yet, there are high chances for this to happen today. I maintain my bullish bias on Gold as long as the price stays above Monday's low.
OANDA:XAUUSDLong
by Mihai_Iacob
3
XAUUSD : US inflation report will boost market trendWhile the US central bank turned more cautious at its December meeting, markets ignored this and overpriced a cut for a still resilient economy. strengthening and inflation remains high. To better understand the Fed's next moves, traders should keep an eye on the US economic calendar this week, paying particular attention to the December CPI report on Thursday morning. Although core inflation is expected to have cooled last month, headline inflation is seen recovering, rising from 3.1% to 3.2%, which is not good for policymakers and certainly will negatively impact market psychology. For gold prices to regain upward momentum in the near future, the latest US CPI data needs to show signs that prices are gradually stabilizing. Otherwise, the Fed may continue to delay its interest rate reduction cycle. In the event of an unexpected increase in inflation reports, the market may raise the valuation of interest rate increases, causing government bond yields to skyrocket. Gold could experience stronger downward corrections in the coming days and weeks. Gold continued to decline on Tuesday after slipping below the key support zone at $2,050 - $2,045 last week. Sustaining prices below this zone could reinforce bearish pressure, pushing gold to its 50-day SMA near $2,010, then to $1,990. On the other hand, if the buyers return, resistance will appear at $2,045-$2,050. A break above this level could push the price to $2,085, and then to its highest peak on record.
OANDA:XAUUSDShort
by SantaTradeGold
XAUUSD Target hit, approaching bottom of Channel Up and 1D MA50.Gold (XAUUSD) followed the Channel Up 4H MA50 (blue trend-line) rejection pattern and as per our last week's idea (January 04, see chart below), it hit today our 2020 Target: The price is now only a few pips away from hitting the 1D MA50 (red trend-line) which has been untouched since October 13 2023 and near which both previous Higher Lows on the Channel's bottom (December 13 2023 and November 12 2023) where priced. As a result that would be a buy opportunity with a tolerance extension as low as 2003, which would represent a -4.08% from the top, symmetrical to both previous two Bearish Legs. As long as the Channel Up Higher Lows trend-line holds, we will stay bullish, targeting the 4H MA50 at 2040. If the bottom trend-line breaks, we will take the relatively small loss and open a sell instead, targeting Support 1 at 1972.50. The 1D MA20 (yellow trend-line) is the final supporting trend-line before Gold gets a confirmed bearish reversal on the long-term horizon. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
FX_IDC:XAUUSD
by TradingShot
Gold near important support zoneOANDA:XAUUSD has had a rough start to the year, experiencing a significant drop of approximately 500 pips from its peak to its lowest point. On Friday, the price exhibited high volatility, solidifying the 2060 zone as a confirmed resistance level. Currently, the price stands at 2028 and is approaching a crucial support zone around 2020. It is imperative for the bulls to successfully uphold this level to sustain the price within a medium-term upward trend. Failure to do so may lead to a potential continuation to the downside, with a target set at the 1980 zone.
OANDA:XAUUSD
by Mihai_Iacob
3
XAUUSD Bear Flag on 4H.Gold (XAUUSD) eventually did get rejected on the 0.618 Fibonacci level as per our last week analysis (see chart below): This is so far consistent with all previous All Time Highs since August 2020 and our long-term target remains 1975. On the shorter term though we see a quick sell opportunity following today's bounce after the 4H MA50 (blue trend-line) break-out, as it is consistent with all such break-outs (red ellipses) within the 2-month Channel Up. Every Bearish Leg of this Channel Up declined by more than -4.00% but on our short-term horizon we will settle for a 2020 target, which will be a 1D MA50 (red trend-line) test. See also how consistent the 4H MACD sequences are. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
FX_IDC:XAUUSDShort
by TradingShot
XAUUSD : How will gold fluctuate in 2024 ?Gold has had wild swings in 2023, rising about 15% from the beginning of the year to May, then falling 13% in October before rising nearly 19% to create a record high in early December. Currently, there are many factors that may affect and cause gold prices to continue to increase in Q1, 2024. Weakness of the USD Gold has an inverse relationship with US government bond yields as well as the US dollar. Therefore, when interest rates fall and the dollar weakens, precious metals often increase in price as the opportunity cost of holding gold decreases. Although the Fed has not yet ruled out another rate hike, the market has already decided that interest rates will fall next year. This is shown by the sharp decrease in government bond yields and the USD. Therefore, even in the absence of fresh bullish momentum, the USD downtrend should still keep XAU/USD supported. From a technical perspective, the outlook for gold's price increase is still quite complicated after gold increased sharply at the end of the year, making the current Risk-Reward ratio not too impressive. Therefore, gold is likely to correct slightly before continuing its current bullish structure, with the first level of support located around the $2,010 area, beyond that at the $1,956 threshold. On the upside, current resistance levels lie at $2,075 and if bullish momentum increases gold prices could return to the record high of $2,146.79.
CITYINDEX:XAUUSDShort
by SantaTradeGold