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Gold Trading Idea: Is a New ATH on the HorizonGold prices took a breather on Thursday, snapping a four-day rally and dropping over 1%. This pullback comes amid mixed US economic data, with softer-than-expected job reports and higher producer prices creating uncertainty. Profit-taking ahead of next week’s Federal Reserve meeting further pressured prices, with XAU/USD currently trading around $2,684. Fundamental Insight Despite the recent dip, Gold remains a safe haven asset in the face of geopolitical tensions and central banks’ dovish monetary stance. The European Central Bank’s third consecutive rate cut and expectations of the Federal Reserve reducing rates by 25 basis points next week could set the stage for renewed upside momentum. As we edge closer to year-end, political tensions and easing monetary policies globally could fuel Gold’s potential to challenge new all-time highs. Technical Outlook On the charts, Gold respected the $2,720 key level, forming a double-top pattern reminiscent of a "batman face." Key levels to watch are: Resistance: $2,720 Support: $2,689 and $2,610 A break above $2,720 could signal a bullish continuation, while a dip to $2,610 may offer a strong buying opportunity for long-term traders. Stay tuned for more trading insights and strategies!
TVC:GOLD
by InwardTrader
1
GOLD PRICE TREND ANALYSIS FOR TODAY, DECEMBER 13, 2024SPDR Gold Trust sold 24.88 tons of gold on December 12, which is the reason for the sharp decline in gold prices last night, suddenly dropping back into the previously broken downtrend structure around the 2675-2676 region. Key Resistance Levels: 2700 - 2710 - 2732 Key Support Levels: 2666 - 2675 XAUUSD OANDA:XAUUSD Trading Strategy Around Price Zones: SELL XAUUSD around the 2700-2701 region Stoploss: 2706 Take Profit 1: 2695 Take Profit 2: 2690 Take Profit 3: 2675 “If there is a breakout above the 2728 level during the day, we look to sell around the 2749-2750 region in a long-term channel.” BUY XAUUSD around the 2675 region Stoploss: 2670 Take Profit 1: 2680 Take Profit 2: 2685 Take Profit 3: 2690 Note: Always set a stop loss in all cases to stay safe! @Henrybillion wishes you a successful trading day.
OANDA:XAUUSD
by Henrybillion
Gold Market Analysis 12/13Gold has dropped to the support level of the current upward trend, and the selling pressure has largely been released. Today's trading strategy should focus on buying at lower levels, with resistance at 2692-2704. The target can be set within the 2688-2702 range. Additionally, pay attention to the support in the 2666-2652 zone. While the possibility of a break below 2652 seems low at the moment, it remains something to watch. The 2652 level is crucial, as it serves as the dividing line between bulls and bears. A genuine break below this level would signal a shift from a bullish to a bearish technical pattern, derived from the connection between the 2790 and 2720 highs.
OANDA:XAUUSDLong
by TradingGuide_Dean
Buy gold, TP: 2690-2695Bros, today gold fell sharply and fell below 2695 due to the negative impact of PPI data on the gold market. I reminded in the previous opinion that the 2700-2695 area is the last line of defense for bulls. Once gold falls below this area, it is easy to be sold and continue to fall. So today I went long on gold near 2702 as planned. After gold fell below 2695, I strictly followed the trading plan and chose manual stop loss near 2693, ending the gold long position with a loss of $4.7K; then I followed up with a gold short position near 2693, and manually closed the position near 2683, ending the transaction with a profit of $4.9K. It means everything I did in trading today was for nothing,fortunately, I strictly followed my trading plan and strategy to execute the transaction, so even if I lost money in the long transaction, I recovered the loss in the short transaction, and there was no loss overall. Relatively speaking, no loss is the greatest success. At present, after gold is relatively stable, I have bought gold again near 2683, and the short-term important support below is 2675. I expect gold to rebound to at least 2690-2695. As for the result of the transaction, let us wait and see! If you want to learn more detailed trading ideas and get more trading signals, you can choose to join the channel at the bottom of the article to make trading no longer difficult and make making money a pleasure!
OANDA:XAUUSDLong
by Trader_Marvin
Gold Price Trend Analysis on December 13, 2024As of December 12, 2024, gold is trading around $2,717 per ounce, continuing its upward trend amid declining U.S. inflation and expectations of a Federal Reserve interest rate cut. Geopolitical tensions and a weakening USD further support the rise in gold prices. Technical Analysis: Market Trend: Primary Trend: Bullish. Key Support Levels: $2,700 (50-day MA) and $2,696 (50% Fibonacci retracement). Resistance Level: $2,732 (previous high). Scenario 1: Continued Uptrend (Breakout) If price breaks above the $2,732 resistance with high volume, it may target $2,750. Trading Strategy: Enter long positions upon a close above $2,732. Set Stop Loss at $2,720. Take Profit 1: $2,750. Take Profit 2: $2,760. Scenario 2: Rejection at Resistance If price fails to break $2,732 and shows reversal patterns, a correction to $2,710 or $2,700 may occur. Trading Strategy: Enter short positions near $2,732 upon bearish reversal signals like a Pin Bar or Doji. Set Stop Loss at $2,740. Take Profit 1: $2,710. Take Profit 2: $2,700. Scenario 3: Pullback to Support and Rebound A pullback to the $2,700 support that holds may offer buying opportunities in line with the uptrend. Trading Strategy: Enter long positions at $2,700. Set Stop Loss at $2,688. Take Profit 1: $2,732. Take Profit 2: $2,750. Recommendations for Traders: Prudent Risk Management: Limit risk per trade to no more than 2% of account equity. Monitor Economic News: Key data such as Federal Reserve interest rate decisions or CPI reports significantly impact gold prices. Await Confirmatory Signals: Avoid impulsive trades; enter positions only upon clear signals at critical price levels
OANDA:XAUUSD
by Henrybillion
Will Gold also test the next resistance level?It’s been a highly bullish week for OANDA:XAUUSD traders, with prices not only reaching but surpassing all my targets one by one. As I outlined in Monday's outlook, if the bulls manage to break above the 2655–2660 resistance zone, the 2785 level would be exposed, and more importantly, the price would very likely move beyond 2700. Yesterday, that prediction materialized as we saw a decisive break above this critical milestone, with FOREXCOM:XAUUSD reaching the 2718 target—and even surpassing it. Overnight, the price briefly dropped from 2725, touching the newly formed support at 2700 before reversing strongly upward. The overall structure remains extremely bullish, with every dip being bought by traders. This momentum should guide our strategy moving forward, focusing now on the next resistance zone at 2755–2760.
FOREXCOM:XAUUSDLong
by Mihai_Iacob
1
Technical and Fundamental Analysis Post-Breakout of 2721Analysis Expansion: In the current market environment, gold continues to demonstrate strong upward momentum. Technically, the price has found support in the 2705-2710 range, with the RSI indicator consistently remaining in the bullish zone, suggesting that the market sentiment remains tilted toward the bulls. A breakout above the 2721 level would confirm the continuation of the uptrend, with the next key resistance likely to be around the 2740-2750 region. From a fundamental perspective, the recent CPI data significantly increased market expectations for a Federal Reserve rate cut next week, particularly in light of weak inflation figures. Market focus is now shifting to the upcoming PPI and initial jobless claims data, which may further fuel expectations for a dovish Fed policy. If the PPI data shows weakness or if initial jobless claims rise substantially, gold could see additional bullish momentum. Therefore, the strategy remains focused on long positions, with an eye on buying opportunities in the 2705-2710 range. If gold breaks above 2721, it will open the door for further upside potential. Risk management is crucial in trading, and investors should remain flexible with their positions to avoid overexposure.
OANDA:XAUUSDLong
by Falcon-Training-Camp
XAU/USD 12 December 2024 Intraday AnalysisH4 Analysis: -> Swing: Bearish. -> Internal: Bullish. Bias/analysis remains the same as analysis dated 25 November 2024. Awaiting candle closure to confirm bullish iBOS Price Action Analysis: As mentioned in yesterday's analysis dated 24 November 2024, whereby price was expected to print a bearish CHoCH. This is how price printed. Currently, price is trading within an established internal range. Intraday Expectation: Price is anticipated to trade down to either discount of internal 50% EQ, which is marked in blue, or H4 demand zone before targeting weak internal high priced at 2,721.420. Note: With the Federal Reserve's dovish stance and persisting geopolitical uncertainties, heightened volatility in Gold is expected to continue. Traders should proceed with caution and adjust risk management strategies in this high-volatility environment. H4 Chart: M15 Analysis: -> Swing: Bearish. -> Internal: Bearish. Price Action Analysis: As highlighted in yesterday's analysis dated 11 December 2024, price was expected to print a bullish iBOS to narrow the internal range, and this is precisely how price printed. Following bullish iBOS, price printed a bearish iBOS. We are now trading within an established internal range. While price has not yet printed a bearish CHoCH, it has traded up to the premium of the 50% internal EQ. Intraday Expectation: Price is currently trading within the premium of internal 50% EQ. Technically, price is expected to target the weak internal low at 2,700.810. Alternative Scenario: Price may potentially seek further liquidity to complete a bullish iBOS on the H4, therefore, bearish momentum may face limitations. Note: With the Federal Reserve maintaining a dovish stance and ongoing geopolitical tensions, volatility in Gold prices is expected to remain elevated. Traders should exercise caution, adjust risk management strategies, and stay prepared for potential price whipsaws in this high-volatility environment. M15 Chart:
OANDA:XAUUSD
by Khan_YIK
XAUUSDHere is our in-depth view and update on XAUUSD . Potential opportunities and what to look out for. This is a long-term overview on the pair. Alright first, let’s take a step back and take a look at XAUUSD from a bigger perspective . For this we will be looking at the H4 time-frame . XAUUSD is currently trading at around 2650s . Our scenarios stay the same. Let’s take another look at them with more in-depth outcomes. Scenario 1: BUYS We broke above 2660. That would confirm continuation buys and we would have to keep our eye out on our next KL (Key Level) at around 2714 . Scenario 2: SELLS We respected our KL (Key Level) 2660 and have not broke above it. We are now targeting breaks of 2590 and revisits of 2530 . If 2530 is to be broken, we could easily see our next Key Level sitting at 2480 . Personal opition: The direction for now is unclear until we break our mentioned key levels. Be patient and stay tuned for possible scalps on this pair. Be extremely careful if we revisit 2660. KEY NOTES - XAUUSD breaking above 2660 would confirm buys UP TO 2714. - XAUUSD failing to break above 2660 would confirm sells. - Breaks below 2604 would result in sells, down to 2550 and 2530. - If 2530 is broken, we can see our next KL (Key Level) 2480. Happy trading! FxPocket
FOREXCOM:XAUUSD
by FxPocket
Gold Market Analysis 12/11The ideal target of 2687 has been achieved, and the price has now moved above 2690. Currently, the 2693-2704 region faces significant selling pressure, which is expected to cause a short-term pullback. However, from the 1D chart perspective, the overall trend remains bullish, indicating that this pullback is a release of pressure rather than a change in trend. Short-term support is at the 2678-2673 range, and if the price retraces to this level, it could attract renewed bullish momentum. Therefore, the recommended trading strategy is as follows: consider shorting above 2690 for a quick trade, and look to go long if the price drops below 2680, with targets remaining at higher levels. As always, ensure proper risk management and closely monitor market movements.
OANDA:XAUUSDLong
by TradingGuide_Dean
Xauusd target 2716 enerty point 2695Here's a summary of your updated XAU/USD trade plan: Trade Plan - *Entry Point*: 2695 (current) - *Target*: 2716 - *Stop-Loss*: 2683 Market Analysis The XAU/USD is experiencing a strong bullish trend, driven by a weakening US dollar, increasing inflation concerns, and geopolitical tensions. Technical Analysis - *RSI Indicator*: The Relative Strength Index (RSI) is above 60, indicating a strong bullish momentum. - *Moving Averages*: The 50-day and 100-day moving averages are trending upwards, supporting the bullish view. - *Support Levels*: The support levels at 2683 and 2675 could provide a buying opportunity in case of a pullback. Risk Management - *Risk-Reward Ratio*: Your risk-reward ratio is approximately 1:3.3, which is relatively aggressive. - *Position Sizing*: Make sure to adjust your position size according to your risk tolerance and account size. Stay disciplined and stick to your trade plan. Good luck!
CAPITALCOM:GOLDLong
by Geroge_Fx
XauUsd target done. What's next?As expected, the 2655–2660 resistance zone gave way, and after a confirmed breakout, OANDA:XAUUSD moved higher, surpassing the initial target of 2685 and hitting a local high above 2700. The price then formed a double top around the 2704 level (5m chart) before entering a normal correction phase. During this pullback, it tested the 2675 zone, which held as a strong support area due to its confluence. Currently, Gold is showing signs of resuming its upward trend and is trading around 2693. My outlook remains bullish as long as the 2670–2675 support zone holds. For now, buying during dips remains the best strategy. If the price can break back above 2700, the next key resistance to watch is at 2718.
OANDA:XAUUSDLong
by Mihai_Iacob
1
Gold Rally Continues as CPI Data Set to Drive the Next MoveCurrently, the gold market is supported by escalating geopolitical tensions and the strong market expectation of an interest rate cut by the Federal Reserve next week. Gold prices have now approached the $2700 level. From a technical perspective, gold has broken above the 50-day moving average, with the Relative Strength Index (RSI) showing a bullish signal, indicating strong upward momentum. The U.S. Consumer Price Index (CPI) for November will be released in two hours, and this report could significantly influence the Federal Reserve's interest rate decisions at their meeting on December 17-18. If the U.S. CPI data comes in weaker than expected, it may strengthen the market's expectation of Fed rate cuts in the coming months, which would push gold prices higher towards the November 25 high of $2721. Therefore, gold's short-term direction will largely depend on today's CPI data, and I believe the data will be supportive for gold prices. Today's Strategy: Long Position on Pullback: Consider going long if gold retraces to the 2690-2695 region, leveraging the current technical setup and market sentiment. Wait for CPI Data: It is advisable to await the release of CPI data and adjust positions based on market reaction. Disclaimer: The above analysis is for informational purposes only. All trading decisions should be made with strict risk management and without over-leveraging.
OANDA:XAUUSDLong
by Falcon-Training-Camp
XAUUSD: Last Idea Gave Us 940+ Pips, What about Next?Dear Traders, Hope you are doing well, our last entry moved well and better than what we had expected, due to that reason mainly and how price have moved and its behaviour gave us indication of bullish continuous dominance that will take price upwards of 2790$ region one more time before it reverse. Remember our bias will change depending on how price moves so if you see a different bias do not be shocked or confused. Please refer to the time when the chart was published. Good luck.
OANDA:XAUUSDLong
by Setupsfx_
15