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Gold- Time for new leg down?In my analysis yesterday, I mentioned that gold could reverse above 2400 and rise to the key resistance zone between 2420 and 2430. However, swing traders should look for selling opportunities in this zone rather than buying in anticipation of hitting resistance. Indeed, the price has moved into this zone, and my strategy remains the same: sell rallies in the area of yesterday's highs. This outlook would only be invalidated if the week's close is near 2440.
OANDA:XAUUSDShort
by Mihai_Iacob
6
XAUUSD | GOLDSPOT | New perspective | follow-up detailGold took a tumble last Friday, reversing its upward trend after disappointing economic data from the US. We saw a near 1% drop following a two-week high of $2477, driven by concerns about the health of the US economy. The latest Nonfarm Payrolls figures fell short of expectations, adding only 114K jobs in July, a significant miss from the estimated 175K. This comes on the heels of a dismal ISM Manufacturing PMI report, raising concerns about the health of the US economy. Major banks like Bank of America, Citi, and JP Morgan have adjusted their forecasts, now anticipating more aggressive rate cuts by the Federal Reserve. While gold remains bullish in the current environment, the path forward isn't clear. What’s next for gold? With the market dynamics shifting, the path of least resistance for this safe-haven asset remains bullish. But which route will it take? In this video, I dive deep into my swing trading strategy and share how I plan to navigate the current market environment. Join me as I break down the latest developments and outline my approach to capitalize on potential opportunities in the gold market next week. XAUUSD Technical Overview: This week, we're focusing on the crucial $2,20 - $2,425 zone. This is a big deal for gold traders - it 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 then Bears might gain the upper hand, and prices could head south breaking down the support line of the ascending channel in the process. 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! #gold #goldprice #goldtrading #swingtrading #marketanalysis #fed #rates #economy #usdata #nonfarmpayrolls #tradingstrategy #technicalanalysis #investing #finance #goldinvestors #goldbugs #goldnews #marketupdate📺🔔💼 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.
SAXO:XAUUSD
by darcsherry
XAUUSD Gold Technical Analysis and Trade Idea👉 🔍 In this video, we take a detailed look at XAU/USD Gold. Recently, it broke structure on the daily time frame with a strong bullish move toward previous resistance levels. However, the 4-hour chart is currently showing a pattern of lower highs and lower lows, suggesting a short-term downward trend. Despite this, the price seems to be holding steady, and I'm watching for a potential bullish breakout. If the price breaks resistance and retraces into the 50%-61.8% Fibonacci zone, it could present a buying opportunity. As always, this video is intended for educational purposes and should not be taken as financial advice. 📊 ✅
FOREXCOM:XAUUSDLong
by fxtraderanthony
3
XAUUSD: Strategies for dealing with the long-short tug-of-warGold market fundamentals: OANDA:XAUUSD The weak employment report prompted the market to expect a rate cut of nearly 105 basis points by the end of the year, with a 100% chance of a rate cut in September. This expectation has given gold some support, as rate cuts usually reduce the opportunity cost of holding gold. However, with the rise of the US dollar index and the rebound of the 10-year Treasury yield, gold's rebound has also been suppressed. The above two points are the current shock factors that have led gold to enter the competition between long and short forces. Gold market technical aspects: From the Fibonacci retracement indicator of Monday's plunge, the current price has come to a dense pressure zone, 0.5 is 2411, 0.618 is 2422, and the high point of the oscillation range 2415 is also between the two, so it is not easy to break through here. If it breaks, there is a broad sky above, and if it does not break, it is likely to continue to maintain the oscillation pattern. Trading strategy: Although it is a tug-of-war between long and short positions, I prefer a decline that cannot break through, so I will choose to sell at a high level Support range: 2380-2364 Resistance range: 2411-2422 Intraday risk data: US initial jobless claims, US June wholesale sales monthly rate If you have different opinions or questions, please speak up and let’s discuss GOLD’s latest ideas together.
TVC:GOLDShort
by AntonyTP
XAUUSD: 8/8 Today’s Market Analysis and StrategyTechnical analysis of gold Daily resistance 2401-2458, support below 2376 Four-hour resistance 2425, support below 2383 Gold operation suggestions: Yesterday, gold rose and fell, and the highest rebound was blocked at 2406.60. It fell to the 2380 line at the end of the trading day and began to rebound. The daily line is still in a high-level bull-bear tug-of-war oscillation, and the small cycle tends to fall back.. The overall price fell under pressure at the 2406 mark for the second time, continuing the recent suppression of the short-selling pattern. Today, the upper resistance continues to focus on 2401-03. The intraday rebound relies on this position to continue to be short and follow the trend to fall. The lower target is still concerned about breaking the previous bottom. The short-term bull-bear strength and weakness dividing line focuses on the 2401 mark. Before the daily level breaks through and stands firm at this position, the priority selling direction remains unchanged. SELL:2425near SL:2430 SELL:2410near SL:2415 Technical analysis only provides trading direction!
OANDA:XAUUSDShort
by ActuaryJ
1
Gold Thursday Trading Strategies and Signals #XAUUSD Today is Thursday. August 8. Gold has been stable for two days. Today there is weekly news on unemployment benefits. But I don't think the impact will be big. Today's current trend line is also very flat. Temporarily give some trading suggestions. Sell: sell xauusd 2394-2398 (The price is between yesterday's 0.5-0.618 line. But because of yesterday's small fluctuations. So today it may still continue to trigger the sell signal 2402-2405. So we can trade in small batches and observe) sell xauusd 2314-2318 (The highest price of gold rebound on Tuesday) Buy: buy xauusd 2368-2371 (This signal is a conversion price that will be tested when gold continues to fall) buy xauusd 2347-2351 (The bottom of the price of gold in recent times. If the price reaches it, buy it directly) Currently, you can try to trade when the price reaches these ranges. If you trade according to my signals. There is a high probability that you will win trading profits. We help everyone make profits accurately every day. If you like my analysis or make a profit by trading according to the signal, please give me a thumbs up and join me
FX:XAUUSDShort
by MaudEvans
1
XAUUSD 8/8/2024 Is this decline over? Looking at H1, we see that after yesterday's decline to the 2380 price zone, the price has recovered to the 2396 zone. - Yesterday's decline, we wanted to see the price stop at the 2389 zone to confirm that wave 2 had ended and started wave 3, but in fact, the price has dropped deeply to 2380. Although the previous wave counting process has not been denied, the price's deep drop to 2380 has given us a complex correction model of wave 2 in black, so we still bet that the uptrend is the current main trend. - Today, the price has recovered to the 2396 zone, suggesting to us a triangle correction model abcde. Obviously, I will not make a subjective conclusion because with a complex correction model, we have to patiently wait for the complete model to have the exact direction of the price. - Current Trading Plan BUY ZONE: 2374 - 2371 SL: 2364 TP1: 2381 TP2: 2400 TP3: 2412 SELL ZONE: 2415 - 2418 SL: 2425 TP1: 2406 TP2: 2495 TP3: 2389 SELL ZONE: 2425 - 2428 SL: 2435 TP1: 2418 TP2: 2406 TP3: 2495
OANDA:XAUUSDLong
by DEEKOP
XAUUSD/H4 The development of the US session, psyche before newsExpectations for the US session on 8/8/2024: The Asia-Europe session is mainly sideways in the 2392-2400 area. This is a sign of accumulation awaiting the US July Unemployment Rate. In terms of technical analysis: the downward trend correction is still being maintained, a recovery from the 2380 area could form peaks in the 2410-2413 or 2427-2434 areas. Price levels to note: SELL: 2400-2404, 2410-2413, and 2425-2434; BUY: 2367-2371 and 2351-2355. Recommended orders: Plan 1: SELL XAUUSD zone 2410-2413 SL 2416 TP 2400 - 2390 - 2377 - 2355. Plan 2: SELL XAUUSD zone 2427-2430 SL 2435 TP 2415 - 2400 - 2377 - 2355. Plan 3: BUY XAUUSD zone 2375 - 2377 SL 2370 TP 2390 - 2400 - 2410.
FX:XAUUSD
by wetdyerap
XAU/USD 08 August 2024 Intraday AnalysisH4 Analysis: Bias/Analysis remains the same as analysis dated 04 August 2024. -> Swing: Bullish. -> Internal: Bullish. Following price printing bullish BOS price pulled back to discount of 50% EQ before targeting weak internal high. However, bullish momentum and pro swing/internal structure was unable to break and close above weak internal high, which, much like the daily TF, could be an early indication that bearish pullback phase is incomplete and price will seek further liquidity before targeting weak internal high. Intraday expectation: Technically, price should target weak internal high, however, price has made one failed attempt, therefore, price could continue bullish, react at H4 supply level, print bearish price action, react at H4 demand level before targeting weak internal high. H4 Chart: M15 Analysis: Analysis/Bias remains the same as yesterday's analysis dated 06 August 2024. -> Swing: Bullish. -> Internal: Bearish. Yesterday's intraday expectation was met, assisted by dovish US economic news. Price has printed a further bearish iBOS followed by a bullish CHoCH indicating bullish pullback phase initiation. Indication of pullback initiation started by reaction at H4 demand level. Price is currently hovering around 50% EQ printing low volume rangebound price action. Intraday expectation: Price to react at premium of 50% internal EQ or M15 supply zone before targeting weak internal low. Alternative scenario: Whilst intraday expectation is technically correct, we need to bear in mind that internal H4 structure is bullish with bearish pullback phase currently underway and could potentially be complete after reacting at H4 demand level. M15 Chart:
OANDA:XAUUSD
by Khan_YIK
Gold slightly increased on August 8☘️Fundamental Analysis Gold prices gained some positive momentum on Thursday and snapped a four-day losing streak, despite a lack of follow-through and remaining below the $2,400 mark heading into the European session. Meanwhile, the lack of bullish sentiment warrants some caution before positioning for any meaningful upside move, although the fundamental backdrop appears to be tilted heavily in favor of bullish traders. Investors remain concerned about the economic slowdown in China and the possibility of a recession in the United States. This, coupled with escalating geopolitical tensions in the Middle East, will act as a bullish driver for Gold prices. Furthermore, expectations of more rate cuts by the Federal Reserve (Fed) put US Dollar (USD) bulls on the defensive and confirmed the positive outlook for gold prices. ☘️Technical Analysis Gold continues to trade within the price range of 2380 and 2415. Gold needs more catalysts to break out of this price range. On the chart, we can see that the price is clinging to the EMA 34 in a downtrend. To achieve the bullish condition, gold first needs to close the candle above the 2400 area. Pay attention to the price reaction zones to have the best trading strategy. Breakout upper band: 2391 - 2400 - 2406 Breakout lower band: 2381 - 2375 - 2365 Resistance: 2397 - 2400 - 2406 - 2420 Support: 2381 - 2375 - 2370 - 2365 - 2352 - 2345 SELL zone 2405 - 2407 stoploss 2411 SELL zone 2420 - 2422 stoploss 2426 BUY zone 2373 - 2371 stoploss 2367 BUY zone 2347 - 2345 stoploss 2341
OANDA:XAUUSD
by TVS-Trader
Is Gold forming a double top?Last week, Gold seemed poised to reach a new all-time high. However, after a spike following Friday's Non-Farm Payroll (NFP) report, the price fell dramatically. Although the daily close resulted in a Doji candle on our chart, the daily volatility, measured from top to bottom, was 600 pips. Monday was another extremely volatile day, with a daily range of nearly 1000 pips. The following days showed more manageable volatility but increased selling pressure. Currently, bulls are trying to reclaim the 2400 level, but the overall outlook remains bearish. I am looking to sell during rallies, with my ideal entry point being in the 2420-2430 range. My initial target is 2360, and a drop below this level could lead to a decline below 2300.
OANDA:XAUUSDShort
by Mihai_Iacob
1
Xauusd up trend XAU/USD is currently showing signs of an upward trend, moving from a price of 2383 to 2400. This bullish movement can be attributed to the latest data on initial jobless claims, which may have positively impacted market sentiment towards gold. Investors often turn to safe-haven assets like gold in times of economic uncertainty, and a decrease in jobless claims could hint at a stronger economy, driving demand for gold and pushing its price higher. As a result, XAU/USD is experiencing an upward momentum, reflecting the current market conditions influenced by the initial jobless claim data.
OANDA:XAUUSDLong
by Khalifapatrick
XAU/USD 07 August 2024 Intraday AnalysisH4 Analysis: Bias/Analysis remains the same as analysis dated 04 August 2024. -> Swing: Bullish. -> Internal: Bullish. Following price printing bullish BOS price pulled back to discount of 50% EQ before targeting weak internal high. However, bullish momentum and pro swing/internal structure was unable to break and close above weak internal high, which, much like the daily TF, could be an early indication that bearish pullback phase is incomplete and price will seek further liquidity before targeting weak internal high. Intraday expectation: Technically, price should target weak internal high, however, price has made one failed attempt, therefore, price could continue bullish, react at H4 supply level, print bearish price action, react at H4 demand level before targeting weak internal high. H4 Chart: M15 Analysis: Analysis/Bias remains the same as yesterday's analysis dated 06 August 2024. -> Swing: Bullish. -> Internal: Bearish. Yesterday's intraday expectation was met, assisted by dovish US economic news. Price has printed a further bearish iBOS followed by a bullish CHoCH indicating bullish pullback phase initiation. Indication of pullback initiation started by reaction at H4 demand level. Price is currently hovering around 50% EQ printing low volume rangebound price action. Intraday expectation: Price to react at premium of 50% internal EQ or M15 supply zone before targeting weak internal low. Alternative scenario: Whilst intraday expectation is technically correct, we need to bear in mind that internal H4 structure is bullish with bearish pullback phase currently underway and could potentially be complete after reacting at H4 demand level. M15 Chart:
OANDA:XAUUSD
by Khan_YIK
2
XAUUSD 7/8/2024 Will the downtrend continue? Looking at H1, we see that we have achieved the target of wave 2 in yesterday's plan. Now we expect wave 3 to continue. The characteristic of wave 3 is a strong and sharp increase. Therefore, we expect a strong increase - Wave 3 is confirmed when the price breaks through the 2418 zone, then we will have a wave 3 target at the 2467 zone - Currently, we are in a very good buy price range, the target zone I gave in yesterday's plan I have a backup buy plan at 2374 - 2371 Our target is the wave 3 increase, so buying up is the main thing, and the sell orders are just to catch the corrective down waves Trading plan BUY ZONE: 2374 - 2371 SL: 2364 TP1: 2403 TP2: 2413 TP3: 2428 SELL Scalp ZONE: 2312 - 2315 SL: 2322 TP1: 2408 TP2: 2403 TP3: 2498 SELL Scalp ZONE: 2424 - 2427 SL: 2432 TP1: 2417 TP2: 2409 TP3: 2403
OANDA:XAUUSDLong
by DEEKOP
2