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Gold Faces Critical Resistance: Will the Bull Run Continue?Chart Overview Timeframe: 1-hour chart Exchange: OANDA Current Price: 2444.100 Key Levels and Zones 4HR LQZ: 2474.524 1HR LQZ: 2370.122 Support Level: 2348.660 Key Low: 2287.754 Patterns and Channels Descending Channel: The price moved within a descending channel before breaking out. Lower Highs (LH) and Lower Lows (LL) formed within this channel. Ascending Channel: The price moved into an ascending channel after breaking out of the descending channel. Higher Lows (HL) and Higher Highs (HH) are visible, indicating a potential upward trend. Current Price Action Recent Higher High (HH): Price reached a higher high at the top of the ascending channel. Potential Lower High: There is a possibility of forming a new lower high, as indicated by the recent price action near the 4HR LQZ. Rejection at 4HR LQZ: The price touched the 4HR LQZ and showed signs of rejection, pulling back slightly. Inset Chart: DXY The inset chart displays the DXY (US Dollar Index), which shows a descending pattern, potentially indicating USD weakness. This is relevant because gold often inversely correlates with the USD. Market Sentiment Bullish Signs: The breakout from the descending channel. Formation of the ascending channel with higher highs and higher lows. Bearish Signs: Rejection at the 4HR LQZ. Potential formation of a new lower high, indicating possible weakness or a reversal in the uptrend. Summary The XAUUSD chart shows a recent breakout from a descending channel and the formation of an ascending channel, suggesting a short-term bullish trend. However, the price faced rejection at the 4HR LQZ and is showing signs of forming a potential new lower high, which could indicate a reversal or consolidation phase. Monitoring key levels and market sentiment (especially USD movements) will be crucial for future price action.
OANDA:XAUUSD
by Adlercon333
4H Time Frame Did A Pullback? Or Potentials Sell?As For The 4H TF I Can See After The Adjustment Gold Has Broke The Parallel Channel And Make A Massive Pullback Last Friday With NFP And Now Again Heading Back Up Side .But The Same Scenario Showing A MSS And LH In Same Period Of Time .Will See With The Best Conformation After Market Make The Move. With The Ongoing Geo Political Situation On Middle East Gold Has A Strong Demand As A Safe haven Asset. As Investors Seeking For A Safe Background On There Asset. Last Friday Was A All Red Day For The STOCK/CRYPTO/COMODITY And All The Trading Assets. Upcoming Weeks Will Be Bit Tough To Find A EDGE To Get Accurate Entry's I Suggest You to Go With Fixed RR With 1:2 Or 1:3 Don't Get Greedy With Your Positions Get The Best Profit As You Can i'll Try My Best To Give You Most Probability Setups .Will Me One Or Two Setups Per day.
EIGHTCAP:XAUUSD
by Mr_Scalper_117
Weekly Bias Is Still Strong Bullish 2500 Is A Easy Target?As I Can See Gold Has Break The Weekly Resistance Zone Last Week By Close The Weekly Candle Above The Weekly Resistance While NFP News Release. After The News Release Gold Had Strong Volatile Move Up And Couldn't Breck 2475 - 2478 Zone. But Hunt Back All The Buy Side Liquidity By A Strong Move Down Side 660+ Pips Crazy Move. i Think No One Would Expect that Move With NFP Data. Because NFP Data Was Negative For USD. 😅 So This Is My Weekly Bias Not Forecast. Wait For Next Update.
EIGHTCAP:XAUUSDLong
by Mr_Scalper_117
XAU/USD 05-09 August 2024 Weekly AnalysisWeekly Analysis: Last week's weekly analysis missed as I was on holiday. Since my last weekly analysis price has print further all time highs, which, as a result, as brought the CHoCH positioning closer to more recent price action. Price has, as yet, failed to indicate bearish pullback following bullish BOS and iBOS. The first indication of pullback will be for price to print a bearish CHoCH which is denoted with a blue dotted line. However, price could print further highs which would bring CHOCH positioning closer to current price. Weekly Chart: Daily Analysis: -> Swing: Bullish. -> Internal: Bullish. Price has printed a bullish iBOS. Price indicated bearish pullback phase initiation once it printed a bearish CHoCH. Price then continued bearish, reacting at discount of internal 50% EQ denoted in blue. Price has, thus far, failed to break and close above the weak internal high which could be an early indication that price will continue with it's bearish pullback phase in order to seek more liquidity. Daily Chart: H4 Analysis: -> 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. Alternative scenario, price to target weak internal high. H4 Chart:
OANDA:XAUUSD
by Khan_YIK
XAUUSD FORECAST 2MWelcome to this new page, we're a team of experts working 24/7 on metals and cocoa really detailed forecasts. Our main resources are based on news, technicals and our 3 year experience gives us a true credibility that you will see as long as we keep posting. Please keep in your mind that : - we're no professionals/counselors/financial advisers - you shall not place money that you should not if you can't live without it - we reject any kind of responsibility in case of a loss, this account only gives indications and further information regarding XAUUSD and COCOA, you and you only are in charge of your money and don't have to trust us This is and will be a short series about XAUUSD, our team has come to the conclusion that for the next month nothing much will happen, some kind of fall between the big rally to the 3000s.
OANDA:XAUUSD
by edl75
XAUUSD Friday Trading Strategies and Signals xauusd Trading on Friday is the most difficult, plus several major news data will be released this week. Tomorrow, the US non-farm payrolls data will be released. There will be relatively rapid and large price fluctuations in a short period of time. So please set a stop loss when trading: Yesterday and today, gold rose violently. So tomorrow we can maintain several buying areas and sell at several specific resistance prices while the trend remains unchanged: Sell: 2466-2471 (the first resistance area to be reached. Maybe 2475. But trading in the price range is very advantageous) 2480-2484 (historical high) Of course, I think scalping at 51-54 can also win some profits. Buy: 2432-2436 has been triggered now, we can hold and observe, because I think there may be a risk of price correction. 2418-2421. The price meets the initial assumption of the correction. Of course, I always improve that everything can happen in the trading market. The price price correction exceeds the support area of ​​2412. I think it will test the 2390 area again. In short, trading in our price range will always earn you some profit. If you make a profit following my trading range, please give me a thumbs up and join me. Maybe I will update again with a new analysis before the news is released tomorrow. This is a preliminary trading plan
FX:XAUUSD
by MaudEvans
Gold is pressing for a break, will NFP bring new ATH?Yesterday was a highly volatile day for gold. Initially, XAU/USD experienced a drop in support. However, it quickly reversed its trend and moved upward. After reaching 2460, the price fell sharply back to support levels. Overnight, another drop to support was met with strong buying power, resulting in a long-tailed pin bar on the hourly chart. At the time of writing, the price has returned to resistance (2460 zone) Judging by the price action over the past 24 hours, I believe gold is poised for an upward break. If I'm correct, the measured target is 2490, and we could even see 2500 today if there is a genuine break and the NFP report surprises.
OANDA:XAUUSDLong
by Mihai_Iacob
5
XAU/USD 02 August 2024 Intraday AnalysisH4 Analysis: Analysis/Bias remains the same as yesterday's analysis dated 31 July 2024. -> Swing: Bullish. -> Internal: Bullish. Price has printed a swing BOS, printing an all time high. After BOS/iBOS price is expected to pullback. Last analysis and intraday expectation was for price to pull back into discount of 50% EQ or H4 demand zone before targeting weak internal high which currently seems underway, therefore, intraday expectation remains the same. H4 Chart: M15 Analysis: -> Swing: Bullish. -> Internal: Bullish. Price has now printed a bullish iBOS aligning itself with swing structure. Price has reacted at H4 supply level to possibly initiate bearish pullback phase. CHoCH line is denoted with a blue dotted line with price yet to print bearish CHoCH to indicate bearish pullback phase initiation. Intraday expectation: Price to print bearish CHoCH, trade down to either discount of 50% EQ or M15 demand levels before targeting weak internal high. Alternative scenario: Price to continue bullish to reposition CHOCH closer to current price action. To then trade down to discount of 50% EQ or M15 demand levels before targeting weak internal high. M15 Chart:
OANDA:XAUUSD
by Khan_YIK
XAUUSD 1/8/2024 after FOMC news? Looking at H1, we see that after this morning's FOMC news, we see that XAU has increased to the 2458 zone - As I analyzed in the previous plan, when the price breaks through the 2402 zone and then tests again and does not fall below this zone, the price will continue the 5-wave trend instead of the 3-wave ABC. - Regarding the trend, after the price follows the 5-wave model, the next wave target is the 2500 price zone as analyzed before. - Looking at the present, we see that wave 3 in the blue 5-wave structure is completing, and the price has now started blue wave 4 - Measuring the wave 4 target, we have the price zone of 2433. This will be the price zone we are waiting for as a BUY target - The target of wave 5 will be specifically determined by me after wave 4 is formed. With the current data, I am expecting wave 5 to end at the price zone of 2500 Trading plan BUYZONE: 2433 - 2430 SL: 2423 TP1: 2422 TP2: 2450 TP3: 2465 SELL ZONE: 2467 - 2470 SL: 2477 TP1: 2450 TP2: 2422 TP3: 2433
OANDA:XAUUSDLong
by DEEKOP
Gold Ends Month on a High Note with Key BreakoutsGold finished the month on a very optimistic note, reversing 1000 pips from the recent low. More importantly, the month-end brought three significant breaks for bulls: 1. A break above the 2390 confluence resistance. 2. A break above the 2400 psychological level. 3. A break above last week’s high of 2430. With this positive momentum, further gains and a test of the 2500 level are expected soon. Technical Outlook and Strategy: From a technical standpoint, the recently broken resistance levels should now act as support. In this zone, I will look for buying opportunities. The initial target could be the last all-time high (ATH), but if the price continues rising toward that zone, I believe it will break above it. Consequently, bulls are likely to push the price above 2500 to test new highs. Overall, the current market sentiment and technicals suggest a strong bullish trend for Gold, making it an attractive prospect for traders looking for buying opportunities.
OANDA:XAUUSDLong
by Mihai_Iacob
5
XAUUSD: 1/8 Today's Market Analysis and StrategyTechnical analysis of gold Daily resistance 2451-70, support below 2401-2370 Four-hour resistance 2451-70, support below 2419 Gold operation suggestions: Under the influence of interest rate decision and Powell's speech, the bulls went all out and stopped at around 2458. The impact of news is often unknown, so we try not to participate. Currently, gold is consolidating in a narrow range near 2443. From the current market trend analysis, today's support below is around 2419, the top and bottom conversion position of 4 hours, and the upper pressure is 2470-75. The market below 2451 can be seen in the range of 2451-2419. The overall market continues to rely on this range to sell high and buy low. SELL: 2451near SL: 2455 SELL: 2470near SL: 2474 Technical analysis only provides trading direction!
OANDA:XAUUSD
by ActuaryJ
XAU/USD 01 August 2024 Intraday AnalysisH4 Analysis: Analysis/Bias remains the same as yesterday's analysis dated 31 July 2024. -> Swing: Bullish. -> Internal: Bullish. Price has printed a swing BOS, printing an all time high. After BOS/iBOS price is expected to pullback. Last analysis and intraday expectation was for price to pull back into discount of 50% EQ or H4 demand zone before targeting weak internal high which currently seems underway, therefore, intraday expectation remains the same. H4 Chart: M15 Analysis: -> Swing: Bullish. -> Internal: Bearish. Price printed a bulish iBOS followed by a double bearish iBOS. Whilst the most recent bearish iBOS did not print a bullish CHoCH, I was happy to mark the internal low as price had reached 50% and in to premium of the internal EQ. After bearish iBOS we expect price to pull back, therefore, for an early indication that pullback has initiated we need to see price print a bullish CHoCH. Intraday expectation: Price to print bullish CHoCH to indicate pullback initiation before targeting weak internal low. M15 Chart:
OANDA:XAUUSD
by Khan_YIK