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XAU/USD getting ready for another rally?Gold appears to be generating significant liquidity, suggesting a potential setup for another rally to the upside. We’re seeing liquidity engineering, which points toward the possibility of gold making a push to retest all-time highs. I’m watching for a chance to capitalize on this move. There’s a 1-hour demand zone just below a pool of liquidity that has recently triggered a change of character (CHOCH) to the upside. I’ll be looking for price to mitigate that demand zone before taking liquidity higher. Confluences for Gold Buys: - Gold is consolidating, likely preparing for a breakout. - Trendline liquidity to the upside still needs to be taken. - The 1-hour demand zone has caused a CHOCH to the upside. - Gold remains bullish, aligning with the overall trend. - The US Dollar Index (DXY) is showing signs of bearishness from its supply zone, supporting the bullish outlook for gold. Note: If price continues to drop and fails to hold at the 1-hour demand zone, I’ll anticipate it to fill the imbalance below and mitigate the 10-hour demand zone. This area is another point of interest where a potential bullish rally for gold could form.
OANDA:XAUUSDLong
by Hassan_fx
Gold Nearing Major Support at 2667 - Bullish ReversalGold is approaching a crucial support level at 2667 on the 4-hour chart, signaling a potential bullish reversal. This level holds significant importance due to its confluence with technical indicators that suggest a possible upward move. Let’s break down the key elements of the current setup: 2667 is a well-established major support level where buyers have historically stepped in, making it a critical zone to watch. RSI (Relative Strength Index) has crossed above 50 multiple times, which is a strong signal of increasing bullish momentum. This suggests that, despite recent price consolidation, there is underlying strength in the market. The fact that RSI is sustaining above the midline indicates that the market sentiment is shifting towards bullishness. On the 4-hour chart, the most recent candle formed a Hammer, a classic bullish reversal pattern. This suggests that the market is rejecting lower prices, with buyers defending the support level. Gold closed the weekend at 2667.80, sitting right on this major support level, further confirming the importance of this zone. All these technical indicators point towards a potential bullish setup for Gold, with the RSI's multiple crossings above 50 strengthening the case for upside movement. If the price bounces from this support, we could see a rally in the near term. However, it's essential to recognize that Gold's price action is also influenced by global events, particularly geopolitical tensions such as the Russia-Ukraine conflict and unrest in the Middle East. These developments could introduce volatility and sudden shifts in sentiment. Traders should closely monitor price behavior around the 2667 support level and look for further confirmations of a bullish reversal, such as continued RSI strength, bullish candlestick formations, and breaks above resistance levels. If the support holds and these signals align, Gold could be poised for a significant upward move. However, a failure to maintain this level may lead to further downside, so caution is advised. Stay updated on global events, as they can heavily impact Gold's trajectory in the days ahead.
COMEX:GC1!Long
by Sudhir-Sirohi
2
The Calm Before the Storm: A Waterfall-like Decline is Coming... Today is Thursday, and with key data releases scheduled for New York trading hours and tomorrow’s much-anticipated NFP and unemployment figures, the market is far from quiet. My advice for today is to focus on selling, despite the possibility of some upward movement. However, from a daily chart perspective, the likelihood of a downturn is much stronger. The 5-day moving average (MA5) has already turned downward, and it’s just a matter of time before the bearish trend takes hold. When it does, this won’t be just a simple correction like we saw last time. I’m predicting a waterfall-like decline. Here’s my anticipated price action: a drop to around 2600, followed by a short rebound to approximately 2630, and finally, a deeper plunge to the 2570 region.
FOREXCOM:XAUUSDShort
by MichaeliaDefoe
1
XAUUSD: NFP data and trading strategies for the next two weeks Yesterday's gold movement largely aligned with expectations, with relatively limited fluctuations. However, today is unlikely to be as calm, as the market now faces two sharply contrasting scenarios: If the Non-Farm Payroll (NFP) and unemployment data are bullish for gold, and the price remains within its current range, we could see a rebound, testing or even breaking the previous high before retreating to current levels. Alternatively, before or shortly after the data release, gold may retest the resistance near its previous high (or consolidate below the 2668 level) and then begin a significant decline, potentially forming a double-top pattern (with a break below 2620). Disregarding the data, from a technical standpoint, the daily chart (D1) shows that gold is at a critical juncture. Recent price movements have hovered near key support levels, with some indicators clearly signaling weakness. A decisive move is imminent. Scenario 1: Gold consolidates near support, gathering momentum and bolstering bullish sentiment, leading to a second upward push—similar to the rally initiated around the 2500 level. If the market demonstrates strength, prices could challenge the 2700-2710 zone, followed by a weekly close showing weakness. A significant pullback of no less than $100 could then ensue. Scenario 2: Bullish momentum fades, and the bears start to take control. A double-top formation would likely emerge, targeting the 2625-2611 support zone. If bulls fail to hold these levels, the next bearish targets would be in the 2590-2570 region. I hope this analysis provides valuable insight for your upcoming trades. Wishing you all the best of luck!
OANDA:XAUUSDShort
by Mia-Signal
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 | GOLDSPOT | New perspective | follow-up detailGold trimmed its weekly gains on Friday as traders assessed recent US economic data and its potential impact on Federal Reserve policy. With disinflationary trends suggesting steady rate cuts, Gold continues to shine. However, expectations for a 50 basis point cut in November have eased following strong US macroeconomic data. Key reports like the decline in Initial Jobless Claims to 218K, solid Q2 GDP growth at 3.0%, and stronger-than-expected Durable Goods Orders have sparked debate about a possible economic soft landing. In this video, I break down how these factors could shape price action in the Gold market, and explore trading strategies for both buyers and sellers. With the probability of a 50 bps rate cut now down to 50%, I have analyzed potential scenarios and how I plan to capitalize on the upcoming opportunities. Make sure to watch till the end for my technical analysis and outlook for the coming week. XAUUSD Technical Overview: This week, we're focusing on the $2,640 zone. This could be a make-or-break point. If gold stays above this zone: Bulls might maintain control, potentially pushing prices higher and setting up new highs. If gold drops below the zone, Bears might gain the upper hand in an attempt to retrace into the structure-support line of the ascending channel. Join me as we explore these factors and potential opportunities in the gold market. Like, subscribe, and hit the notification bell for the latest analysis and insights! 📌 Follow my journey as I map out the next moves in this dynamic market! #GoldMarket #FedRateCuts #USData #GoldTrading #ForexAnalysis #GoldForecast #EconomicOutlook #TradingStrategies #InvestingInGold #MarketUpdates📺🔔💼 Disclaimer Notice: Trading in the foreign exchange market and other instruments carries a high risk and may not be suitable for all investors. The content provided here is for educational purposes only. Evaluate your financial situation and consult with a financial advisor before making any investment decisions. Past performance is not indicative of future results.
EIGHTCAP:XAUUSD
by darcsherry
1
XAUUSD: Will the decline continue after the conflict?Yesterday, the US dollar index rose for the second consecutive trading day, hitting a two-week high, supported by data showing the resilience of the US labor market and the dual support of safe-haven currency properties. It stands to reason that the rise of the US dollar index will suppress gold and cause it to fall. However, due to the sudden escalation of the geopolitical conflict between Iran and Israel, the demand for safe havens has been greatly boosted, resulting in a rare rise in gold and the US dollar together. The escalation of the geopolitical crisis in the Middle East has indeed greatly affected the direction of gold, but as of now, I don’t think gold supports the momentum to continue to rise sharply. Judging from the news, the rise in gold is due to the situation in the Middle East. If the situation in the Middle East eases next, or the situation is not as tense as the first day, then gold will still fall as it rose. Unless the situation in the Middle East will intensify in the future, and it will be more violent than yesterday’s conflict From the figure, we can see that the Fibonacci retracement of 0.618 from yesterday’s high of 2673 and today’s low of 2645 is 2655. As long as the rebound does not exceed 0.618, it is bound to fall to a new low. The short position I held yesterday suffered a slight loss due to the sudden outbreak of the Middle East conflict, but I added positions at 2655 and 2666 respectively, which increased the average price and is now profitable. In summary, I still have a bearish view, so I will continue to hold short positions.
OANDA:XAUUSDShort
by AntonyTP
XAU/USD 02 October 2024 Intraday AnalysisH4 Analysis: -> Swing: Bullish. -> Internal: Bearish. Price has continued its surge, reaching all-time highs with minimal pullbacks. The bearish swing pullback phase has been confirmed by a bearish Internal Break of Structure (iBOS), which has also established the current swing range. At present, we are trading between the swing high and internal low. Price has now printed a bullish Change of Character (CHoCH), suggesting, but not confirming initiation of a bullish pullback phase. Additionally, the price has reacted from the premium zone above the 50% internal equilibrium (EQ). Intraday Expectation: The expectation is for price to target a weak internal low. H4 Chart: M15 Analysis: -> Swing: Bullish. -> Internal: Bullish. The price met expectations by targeting a weak internal low and printing a bearish Internal Break of Structure (iBOS). As previously noted, price action has been erratic due to ongoing macroeconomic data and heightened geopolitical tensions. Since the last analysis, the price printed a double bullish iBOS, likely driven by the escalation of geopolitical tensions. The price has also printed a bearish Change of Character (CHoCH), suggesting, but not confirming the initiation of a bearish pullback phase. Currently, price is positioned at the extreme of a strong internal low, with wicks into this level but no decisive close below. Intraday Expectation: The price is expected to target a weak internal high. However, caution is advised, as the H4 timeframe has confirmed the swing pullback phase with a bearish iBOS, which could limit further upside momentum. With rising geopolitical tensions, Gold is likely to remain highly volatile in the short term. M15 Chart:
OANDA:XAUUSD
by Khan_YIK
This week's gold trading strategyThis week's gold trading strategy, be able to understand and follow, there will be a 50% profit this week! News: Everyone knows that the US Federal Reserve cut interest rates some time ago, which added a fire to the entire gold market. In addition, the global geopolitical conflict has ignited the entire gold market, causing the price of gold to reach 2700!For all of us traders, what we want to know most is which direction the market should go next. First of all, the news is that the United States has cut interest rates, and the impact of geopolitical risks has been almost digested by the market, so it is a bit difficult for gold to hit the high point! In addition, after the U.S. interest rate cut, it will definitely focus on economic development, so the U.S. economy will improve next, so the dollar index will rise, and the price of gold will also fluctuate and fall! So I judge that in the next week or so, the gold market will fluctuate and fall! Technical aspects: You can see that the candlestick chart of gold is currently in a downtrend channel. Although it has broken through the top of the uptrend channel, it is not a real technical breakthrough. It is caused by today's US data ‘ISM Manufacturing PMI for September'. Gold will return to the trend next, so it is best to go short at a high level, but go long at a low level in the trend! News forecast: U.S. ADP employment in September (10,000 people)-bearish gold U.S. non-farm payrolls after September quarter-adjusted (10,000 people)-bearish gold This week's point strategy: 2670 short, 2675 increase position 2620 go long, 2615 increase position If you want to see specific trading signal strategies, please consult in the comments area!
OANDA:XAUUSDShort
by Falcon-Training-Camp
1
XAUUSD: Swing Buy Reversal is Coming! From 2450 to 2560! Dear Traders, WE have an important entry coming up on Gold, possibly the one which will shape the gold market. After creating a record high and touching the 2530 for the first time, price exhausted and started dropping and ranged between the area. However, if we look into it with areas that gold may reverse from, the area that we find attracting is 2440 to 2450 in which we may see a large volume of buy volume kicking in the market. Good luck.
OANDA:XAUUSDLong
by Setupsfx_
17
xau/usd updateThe price action has responded precisely to the support level I highlighted yesterday, rebounding with remarkable accuracy. This movement is part of a broader pattern, as the market has been confined within a descending channel. This channel has essentially acted as a temporary retracement against the dominant trend. Currently, we are witnessing an attempt by the market to break above this channel. Should we see a decisive breakout with a confirmed close above the upper boundary, it could signal the beginning of a strong bullish trend. However, I wouldn’t be surprised if the price revisits the support zone before embarking on a more sustained upward trajectory. This is particularly likely in light of the rejection candle observed on the 4-hour chart, which hints at some short-term hesitation. My ultimate target remains the resistance level around 2668.50, as this represents a key area of interest for potential sellers. In summary, while the breakout could ignite bullish momentum, a retest of support seems probable before any substantial move towards the resistance. Traders, if you found this idea helpful or have your own insights to share, feel free to drop a comment. I’d love to hear your thoughts!
OANDA:XAUUSDLong
by lonelyPlayer0
Gold 4H Trend Continuation Setup Gold is currently trading under the FibCloud and touching the 0.6 Fibonacci retracement level on the 4-hour chart. While this setup favors a continuation of the downtrend, there’s also a possibility of a breakout at this stage. I expect a potential test of the 2,658 Sunday open area before the market shows its true direction. So far, Gold has been printing a well-controlled downtrend, but it’s important to stay alert for any changes in momentum. Technical Analysis: • Gold is trading below the FibCloud, signaling bearish momentum. • The price is testing the 0.6 Fibonacci retracement, a key level that could either result in a trend continuation or a breakout. • A retest of the 2,658 Sunday open area may occur before the market confirms its next move. • I’m expecting a move towards the 2,600-2,620 price range if the downtrend continues. At this point, the trade could go either way—continuing the downtrend or breaking out. The 2,658 area will be key in determining the next move. For now, Gold has maintained a structured downtrend, and I’m favoring a short position targeting the 2,600-2,620 range. As always, proper risk management is essential in these conditions. Note: Please remember to adjust this trade idea according to your individual trading conditions, including position size, broker-specific price variations, and any relevant external factors. Every trader’s situation is unique, so it’s crucial to tailor your approach to your own risk tolerance and market environment.
CAPITALCOM:GOLDShort
by AR33_
Gold’s Correction Phase: Key Levels and What to Watch NextIn yesterday’s post, I discussed the possibility of a new leg in the ongoing correction for gold, pinpointing the 2630 zone as a potential area for this decline to materialize. As it stands, XAU/USD has indeed dropped to that level and is currently showing signs of recovery. However, there are two key takeaways from yesterday’s price action that need to be highlighted: 1. The correction fits within the broader bullish trend: Despite the pullback, it is essential to recognize that the movement appears corrective rather than a reversal of the overall bullish structure for gold. 2. Caution regarding the end of the correction: While gold is recovering from the 2625 level, it is premature to declare the correction complete. For confirmation that this phase has ended, the price needs to break above the 2650 zone and, crucially, close the day above that level. This would signal stronger momentum and increase the likelihood of further upward movement. With this in mind, the strategy for swing traders remains focused on buying the dips. Until we see a decisive break and daily close above 2650, low volume is advised. If that level is successfully breached, it would serve as confirmation that the recovery is gathering steam and could potentially open the door for gold to target the 2700 level in the near term. In conclusion, while the current correction may have created an opportunity to enter at lower levels, traders should remain cautious and await a clearer signal before committing high volume long positions. The 2650 zone remains the key level to watch for further bullish confirmation.
OANDA:XAUUSDLong
by Mihai_Iacob
5