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Gold - This Breakout Will Lead To $5.000!Gold ( TVC:GOLD ) is preparing a major breakout: Click chart above to see the detailed analysis👆🏻 For more than one and a half decades, Gold has been respecting the structure of a rising channel pattern with one exception. Back in 2010 we saw a bullish breakout followed by a parabolic rally and as we are speaking, Gold is starting to break out of the channel once again. Levels to watch: $2.900, $5.000 Keep your long term vision, Philip (BasicTrading)
TVC:GOLDLong
by basictradingtv
24
XAU/USD Technical Analysis: Testing Key Resistance at 2,935 - !!XAU/USD (Gold vs US Dollar) – 30-Minute Timeframe Analysis Current Market Context: The XAU/USD pair has been in an overall bullish trend, evidenced by the price being positioned above the 200-period Exponential Moving Average (EMA), indicating the dominance of buyers in the market. However, the price action currently suggests a potential reversal or consolidation at key resistance. Key Levels: Resistance Zone: The price has approached a significant resistance area near 2,935, which has historically served as a reversal zone. The market is currently struggling to maintain bullish momentum at this level, with a recent rejection visible. Support Zone: A clear support level can be identified around 2,920, where price has previously found buying interest. A break below this could indicate a deeper retracement towards lower levels. Technical Indicators: 200 EMA: The price is trading above the 200 EMA, which traditionally signals an uptrend. However, the recent pullback suggests the market could be testing this level for support. Price Action: The formation of lower wicks and the rejection at the resistance zone may suggest waning bullish momentum, which could trigger a pullback or consolidation in the short term. Potential Scenarios: Bullish Continuation: If the price successfully breaks above the resistance zone (around 2,935), we could expect a continuation towards higher levels, targeting 2,940 or beyond. Confirmation of this move would require a strong close above the resistance with increased volume. Bearish Reversal: Should the price fail to break above the resistance and begin to show signs of rejection (as seen with the current price action), a potential short-term bearish move could occur. The first target would likely be the support around 2,920, with a deeper retracement towards 2,915 if the market sentiment turns more risk-averse. Conclusion: At present, XAU/USD is at a crucial juncture. The key resistance zone at 2,935 is critical for determining the next directional move. A failure to break above this level could lead to a short-term bearish retracement, while a successful breakout would reaffirm the bullish trend. Traders should monitor for price action confirmation near these levels to assess the most probable market direction.
OANDA:XAUUSD
by MrStellanSight
THE KOG REPORT - UpdateEnd of day update from us here at KOG: Yesterday we wanted price to attack that support and RIP giving us the move upside into ATH and the Excalibur targets we had active. This worked well for us and the wider community, so well done if you followed. We later gave our bias levels and on first attempt 2930 bounced well giving a 100pip move, however, when we saw that 2940 wasn't breaking, we suggested traders don't attempt 2930 again, rather wait lower for support to give another opportunity to long, which is happening now. We now have resistance at the 2930-33 region which needs to break to go higher, otherwise, an overnight Asia session move can bring us down into that 2915-12 region before another opportunity to take a long trade. It's a choppy market, obviously waiting for some news this week to drive it to extreme levels, so please play caution, stick to your risk model no matter what! As always, trade safe. KOG
FX:XAUUSD
by KnightsofGold
9
XAUUSD: 3,400 could be the top of this Cycle.Gold is overbought both on its 1W (RSI = 75.261, MACD = 100.240, ADX = 43.694) and 1M (RSI = 79.749) technical outlooks and has entered the final (and perhaps most aggressive) phase of the latest bullish wave. With the 27 year pattern being a Channel Up we can calculate the next high to be within the 3.0 and 3.5 Fibonacci extension levels. Last time the price crossed over the R1 level, it peaked just under the 3.5 Fib. This gives a final target (TP = 3,400) close to the end of 2025. ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
FX_IDC:XAUUSDLong
by InvestingScope
FOMC NEWS GOLD BULLISH NEXT TARGET 2950Hey there on 2HTF we are seems that Gold may be pullback on FOMC news when FOMC news release we can see the trend line support area from 2915 must be buy bullish candle continue rise from this area and further if the price touch 2905-2901 this is major support for buyers if the price decline than possibly we may see next 2865 confirm So the bullish side we may see from 2915-2905-2901 if price rise we can see next HH 2947-2950-2954-2962-2968 these area will confirm touch
TVC:GOLDLong
by DvsTraderfirm
XAUUSDIf gold breaks 2946, the next target will be 2963-2977. However, there is also a possibility of a fake breakout, just like it did previously. When the market reached 2946 before, it made a fake breakout and then climbed to 2949. Now, it’s possible that it could do the same again before pulling back. At the moment, the market is trading within the 2933-2946 zone, which is a very sensitive and tricky area. The safest trade entry would be if it properly breaks 2949-2952, as that would confirm a strong bullish setup. Remember, this is just a trade idea—it could be right or wrong. Trade cautiously!
FOREXCOM:XAUUSDLong
by professionalgoldtrader