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GOLD Spot (XAUUSD) (OANDA EU Clients)GOLD Spot (XAUUSD) (OANDA EU Clients)GOLD Spot (XAUUSD) (OANDA EU Clients)

GOLD Spot (XAUUSD) (OANDA EU Clients)

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Gold Weekly Analysis 4 - 8 Nov 2024Gold Weekly Analysis 4 - 8 Nov 2024 After reaching an All Time High at the end of last October, world gold prices are back in a consolidation trend amidst a slowdown in the labor market and market attitudes awaiting the United States (US) election. This week based on a Kitco.com survey. even though they are not sure about the price of gold ahead of the US general election and the Fed's decision, Wall Street & Main Street still agree that gold is still in an upward trend. According to the Trendline Indicator, the 4-hour gold time frame is in a consolidation phase with a bullish trend. Transaction Advice If the price is stuck in the 2733 area, wait for a valid buy signal to appear because the market has the potential to rise again to test resistance at 2758. If it breaks, you can open a buy position again because the market will continue to rise to test ATH 2789 However, on the other hand, if the price falls below 2733, you can look for opportunities to buy in the support area 2716 - 2701. BEWARE. If the price is confirmed to close below 2701, there is an opportunity for gold to change direction to a downtrend. Important Data This Week ISM Service PMI (5/11) Presidential Election (5/11) Congressional Election (5/11) Unemployment Claims (7/11) Federal Funds Rate (8/11) FOMC Statement (8/11) FOMC Press Conference (8/10) Disclaimer: The information above is informative and customers/investors need to verify it and always remember and understand risk management if there is a reversal, also pay attention to ongoing technical indicators and fundamental news that will be released
FX:XAUUSDLong
by Njjeha
XAU! 11/1 ! Gold price adjustment - NF newsXAU / USD trend forecast November1, 2024 Gold price (XAU/USD) regains some ground on Friday, supported by US election uncertainties and Middle East tensions, which boost demand for the safe-haven asset. However, rising US Treasury yields and a stronger US Dollar may limit gains. Traders now await the US October employment report, with key data on Nonfarm Payrolls, Unemployment Rate, and Average Hourly Earnings. A strong report could reduce expectations for Fed rate cuts, potentially weighing on gold. Gold price adjusted down - market reduced FOMO. Waiting for NF news to officially return to the price range of 2700 - 2720 /// SELL XAU : zone 2769-2772 SL: 2777 TP: 50 - 200 - 300 pips (2742) Safe and profitable trading
OANDA:XAUUSDShort
by Moon-ForexAcademy
1
Nonfarm Trading PlanFundamental Analysis The Federal Reserve (Fed) meets next week and announces its monetary policy decision on Thursday, November 7. The odds of a 25 basis point (bps) rate cut are 94.5%, down slightly from 95.5% last week. However, market players are still weighing whether a Republican victory in the upcoming presidential election could force the Fed to slow its easing. Meanwhile, the Bank of Japan (BoJ) decided to keep its interest rate target unchanged at 0.25% on Thursday and reiterated its forecast for inflation to remain near its 2% target. The announcement weighed on the Japanese Yen (JPY), supporting the US Dollar. Asian and European stock indexes fell sharply, leading Wall Street to a second straight day of declines. Focus now shifts to the US Non-Farm Payrolls (NFP) report, due out on Friday. The economy is expected to add 113,000 new jobs in October, while the unemployment rate is expected to hold steady at 4.1%. Technical Analysis After a sharp drop in gold prices last night in the US session, gold recovered from the 2730 area. The 2732 area is considered an important session port area when the market's momentum begins to jump into the market. The Asian breakout zone is also noted around 2744 for scalping around the European session when selling pressure returns. Currently, gold cannot break 2754, so gold will have a push to 44 and 30 before Nonfarm. According to this scenario, Nonfarm gold will continue to sweep down first and it will be difficult to push up after Nonfarm. Pay attention to the 2720 and 2710 zones when nonfarm is announced. If gold breaks to the 2754 zone, it will be pushed back to the 2761 and 2773 zones to execute the SELL plan.
OANDA:XAUUSD
by TVS-Trader
XAU! 11/8! Create liquidity for the downtrendXAU / USD trend forecast November 8, 2024 Gold prices rose above $2,700 after the Federal Reserve cut interest rates and noted that US election impacts are unlikely to be immediate. Currently, XAU/USD is trading at $2,704, up over 1.7%. Wall Street gained further as the Fed unanimously lowered the federal funds rate by 0.25%. In its statement, the Fed pointed to solid economic growth, though labor market conditions have weakened slightly. Officials also observed that inflation is closer to the Fed’s 2% target but remains somewhat elevated. Long term framework - gold price is still in a downtrend. Market recovered thanks to FED continuing to cut 0.25% as expected. Short term recovery /// SELL XAU : zone 2719-2722 SL: 2727 TP: 50 - 150 - 300 pips (2692) /// BUY XAU : zone 2667-2664 SL: 2659 TP: 50 - 150 - 300 pips (2694) Safe and profitable trading
OANDA:XAUUSDShort
by Moon-ForexAcademy
1
XAUUSD 1M1. Elliott Wave Analysis Wave 5 Completion at 1.618 Extension (2,747.14): The chart shows Wave 5 peaking at $2,747.14, corresponding to a 1.618 Fibonacci extension. This level is typically a significant reversal point, suggesting potential for a corrective move downwards. ABC Corrective Pattern Projection: After the completion of Wave 5, an A-B-C correction is projected. The expected trajectory shows a downward movement to the liquidity void zone, followed by a potential retracement up in a Wave B before a final decline in Wave C. 2. Wyckoff Distribution and Accumulation Phases Phase B (Accumulation - $1,046.23 to $1,920.80): This region marks the accumulation phase with a Sign of Weakness (SOW) in Phase B, where price forms a base before starting the upward trend. Notably, price action within this phase shows consolidation, preparing for a breakout. Phase C (Mark-Up): After the accumulation, price enters the mark-up phase, breaking past resistance and forming new highs. This phase is highlighted by significant upward momentum, taking the price into higher Wyckoff distribution phases. Distribution Pattern in Recent Highs: The recent highs around $2,747.14 align with Upthrust (UT) and Upthrust After Distribution (UTAD) signals, suggesting the end of the mark-up phase and a shift towards potential distribution. 3. Key Fibonacci Levels and Extensions 1.236 Extension (2,744.68): This level is another Fibonacci extension associated with Wave 5, acting as a point of possible reversal. Volume divergence at this level further indicates potential weakness in upward momentum. 0.618 Retracement (Inducement Wave 4): A 0.618 retracement from the previous lows serves as a key support level. If price retraces here during the corrective phase, it may offer a possible entry for continuation trades. 4. Liquidity Zones and Order Blocks Liquidity Void (3M): There’s a liquidity void in the three-month time frame, which price might revisit during the corrective move. This void represents an inefficiency where price could fill gaps created by the upward trend, making it an area of interest for re-entries. Buy-Side Liquidity (BSL): The Buy-Side Liquidity area near the recent highs includes stop losses and limit orders, making it a zone where institutional players might target liquidity. 5. Support and Resistance Levels Resistance Line - BC Distribution (1,920.80): This level acts as a strong resistance line in the accumulation phase. If price revisits this area, it may encounter selling pressure. Support Line - AR Distribution (1,525.84): The support around $1,525.84 represents the Automatic Rally (AR) point in the Wyckoff structure, marking a potential level of demand if price retraces to this level. 6. Break of Structure (BOS) BOS in Wave 3 (12M): The Break of Structure in Wave 3 on the 12-month chart indicates a potential shift in the trend’s momentum, suggesting possible trend continuation or reversal. BOS within Phase B (3M): Another BOS is marked in Phase B, highlighting a structural shift in sentiment. This often leads to an uptrend or a change in market direction as the BOS level confirms a key pivot point. 7. Dealing Ranges and Key Points of Control (POC) Dealing Range (12M-3M): This range, spanning the recent swing highs and lows, establishes boundaries within which price is expected to fluctuate. The Point of Control (POC) within this range often corresponds with areas of high volume, which could act as pivotal zones for price movement. Current Trend (Dealing Range for Wave 4): The range defined for Wave 4 provides insight into ongoing price action. Watching for breakouts or breakdowns within this range could indicate the next potential trend direction. 8. Proposed Trading Plan for Upcoming Weeks Short-Term Correction Expected: With Wave 5 likely completed, a corrective A-B-C structure appears probable. This suggests a short-term downtrend toward lower support zones. Target Zones: Downside: Potential retracements to $1,920.80 and $1,525.84 are key areas to monitor. These support levels could act as potential bounce points or re-entry zones if the price holds. Upside Resistance: If price revisits the recent highs near $2,747.14, look for bearish setups, as this level may act as strong resistance in the corrective phase. Volume and Divergence: Watch for volume divergence or signs of weakness at the 1.618 and 1.236 extensions to gauge the potential for continued reversal. This can provide additional confirmation for trend reversal setups. Summary of Key Observations Wave 5 completion at $2,747.14 suggests corrective phase ahead. Wyckoff Distribution structure signals potential downside with liquidity voids targeted. Key Support and Resistance zones at $1,920.80 and $1,525.84. Expected A-B-C Correction aligns with price filling previous gaps and testing support.
FX:XAUUSDShort
by spacedevil
11.1 Gold shock awaits non-agricultureJudging from Wednesday's ADP, non-farm payrolls on Friday should also maintain good growth. The same is true for the initial clearing last night. The sharp retracement before the data is basically the early digestion of the data. 1. The price broke the morning starting point before the US market and rebounded at 6-8 o'clock. This pattern must not have fallen much. We have been emphasizing this point of view to everyone recently: Don't buy more twice when gold retreats in the US market. After the increase is too large, it is easy to fall by a large margin. Double bottoms, 618, and other positions are not caught, and there is no rebound. But compared with yesterday's empty, it is the rhythm. Continuous failures and no operating mentality are easy to form. If you can't get started when you see it right, and you can't hold back and get started, it's wrong. 2. The morning is still a cyclical rise. Intraday analysis: 1. A sharp drop in the rise, the first day is still a bull correction, which has been seen countless times before. 2. The continuous sharp drop breaks the bottom, which changes the short-term bull direction. 3. There will be non-agricultural data tonight. Before the non-agricultural data, the overall market should not change much. 4. If the bearish outlook continues, the rebound in the morning is focused on the European session. If the European session continues to rebound, the US session will inevitably fluctuate. If the market is weak, the European session will retreat first. At present, it is obviously the top of the hourly big Yin line at 2757, because this position breaks the position of the decline and rebound at 382. And there is no high point of correction in the early morning, so it can only be arranged at the top of the big Yin line. At the same time, the non-agricultural data is divided into two parts: 1. Look at the second retracement before the non-agricultural data. 2. Whether the non-agricultural data can continue the decline of yesterday depends on the data. Last month, it was 254,000, and this time it is expected to be only 11.3. Whether it is from the initial claims or from ADP, it is impossible to be lower than 11.3. It can only be high. How high it is depends on the data performance. Therefore, the worst non-agricultural data is also bad for gold. It just depends on how bad it is. For example, ADP rebounds first and then falls, or it retreats directly. As long as the data is higher than 150,000, the pullback is also empty, but no matter what, the European session is very critical. The European session continues to rebound and is strong. The US session fluctuates, but the European session is weak, and the probability of breaking the bottom is high.
FXOPEN:XAUUSD
by David_strategy
Gold analysis and trading signalsAt the 4-hour level of gold, as shown in the figure, this cycle is currently in a downward trend. According to the five waves of decline, 2790-2724 is the first wave of decline, 2724 to 2749 is the second wave of correction, and 2749 to 2643 is the third wave of decline. This 2643 is calculated based on 1.618 times, which is exactly stuck at this position, and from the perspective of segmentation, it is also the 786 segmentation support; therefore, assuming that 2643 is established, then the next is the fourth wave of correction, and the amplitude is calculated as 50%, which is 2696, which is also the resistance point with a probability of testing tonight; if there is pressure, the last wave of decline will be carried out; and it just so happens that the second half of the night is the time to announce the interest rate. According to the cyclical deduction of the first interest rate cut trend, the gold price will first rise and then fall, and finally stabilize and rise again. According to the wave shape, the low point of the fifth wave is about 2605, which is exactly the previous low point of 2602 or a good double bottom stabilization. Of course, the amplitude of the last wave is often irregular, and it may be not far from the low point of the third wave. Gold hourly level: In the morning, it continued to fall directly to 2643. It is easy to enter into shock after a big drop. The trend continuity in the morning is relatively poor, so it is easy to bottom out and pull up if it falls first. The key to the support of 2643 is also calculated in advance. After the stabilization signal appears, it will follow the bullish rebound. At present, it has broken through the middle track. However, after a day of operation, the high point of 2678 in the early morning has not been broken. The overall rebound strength is not large. Therefore, it may need to bottom out tonight and wait for the news stimulus guidance in the second half of the night; Gold operation strategy: It is recommended to go short at 2700-2710, with a target of 2680-2670
OANDA:XAUUSD
by btxebtxe
XAUUSD: The Rebound Is Not Over YetDue to the impact of the news, gold prices have fallen significantly. When gold prices approached around 2660, I suggested buying within the 2660-2652 range to capture the rebound after the sharp drop. The first wave of the rebound reached a high of around 2678, with a gain of over $20, and those who followed the signal made very decent profits. Currently, gold prices are oscillating in the bottom range, with volatility gradually decreasing. However, the rebound has not ended yet, and there is still room to buy. This rebound should at least push prices above 2680. Tomorrow, we have the interest rate decision, and the market widely expects a 25 basis point rate cut. After today’s drop, gold should not see much more downside in the short term. Therefore, tomorrow’s trading should focus on buying at lower levels. The first key support levels to watch are the 2652-2648 range, followed by around 2639. Overall, the current market environment still holds opportunities, but it's crucial to stay flexible and adjust strategies according to market movements. Patience and risk management will be the keys to successful trading.
OANDA:XAUUSDLong
by Mia-Signal
if 2700 resistance strong, 2608 support broken, target 2580 zoneif retest 2700 resistance, 2608 support broken, target 2580 zone but there is potential weekly continue to drop mean we will see more correction later there 3 scenario 1. still going up to 2770 but stochastic not bottomed yet 2. straight to 2580 mean weekly bearish trend started target 2440 later 3. drop to 2640 then up to 2700 resistance retest and drop to 2580, this scenario still believed to leading to weekly bearish trend
OANDA:XAUUSDShort
by salvanost
Welcome back donald trumpIn this chart, I have conducted a technical analysis of Gold Spot against the U.S. Dollar (XAU/USD) on the 4-hour timeframe. The analysis highlights key areas of interest: Supply Zone: Marked in purple, this region represents a potential area where selling pressure could resume. Historically, prices have shown resistance here, suggesting that traders should monitor this zone for possible reversals or selling activity. Retracement Levels: I've used Fibonacci retracement levels to assess potential pullbacks. The 0.5 (2,696.90) and 0.382 (2,684.38) levels are particularly notable as possible points where the price may find support or resistance. Target Area: Indicated by the arrow pointing downward, this is the level where I predict the price could head next if the supply zone holds and selling pressure intensifies. This represents a personal target based on my analysis and not a trade signal. "Hope for the Best" Label: Positioned just below the supply zone, this label reflects the sentiment of uncertainty as the price approaches this resistance area. It serves as a reminder that market movements can be unpredictable. Welcome Back Donald Trump: In a broader context, the market may also be impacted by political events. With Donald Trump winning the 2024 U.S. presidential election, there could be shifts in economic policy, which might influence precious metal markets and investor sentiment in the coming months. Keep an eye on these macroeconomic factors as they may play a role in future price actions. This analysis is shared solely as my interpretation of market data and is not financial advice or a trade recommendation.
ICMARKETS:XAUUSDShort
by rajpatel95133
Intraday Trading Setup: Key Support and Sniper Shot Targets Support Level: The support is currently set at 2659. This level is critical because if the price holds above it, there is potential for upward movement. It's a key point for price stabilization. If the price drops below this level, we need to be cautious and reassess, but the market can still reverse and go higher after testing this zone. First Target (2662 - Sniper Shot): The first target I’ve set for today is 2662, which I am calling a sniper shot. This is a very precise level where I expect a possible breakout or a strong reaction. If the price reaches here and holds, it could signify a continuation of the upward momentum. Second Target (2668 - Sniper Shot): If 2662 is cleared, the next potential target is 2668, another sniper shot level. This is the next critical resistance zone where price action could struggle before breaking through or pulling back. If the market breaks this level, it strengthens the bullish outlook. Third Target (2672 - Sniper Shot): The final target for today is 2672, which is my third sniper shot level. This represents a strong resistance point where profit-taking or a significant reversal could happen. If we reach 2672 with strong momentum, the market might continue even higher, but it could also face resistance and retrace. If Support Breaks (2659): Even if the support at 2659 is broken and the price dips below, there’s still the potential for an upward movement afterward. The market can often retest lower levels before reversing back up. So, even if there's a temporary break of support, watch for signs of price reversal or consolidation, as the bulls may regain control. In Summary: Support Level: 2659 (Critical Zone) First Target: 2662 (Sniper Shot) Second Target: 2668 (Sniper Shot) Third Target: 2672 (Sniper Shot) Even if the price breaks support at 2659, there is still potential for a reversal and a move higher. Always monitor the price action closely to make adjustments as needed.
OANDA:XAUUSD
by BinSalmanFundsReal
Gold is in the bullish direction after correcting the supportHello Traders In This Chart GOLD HOURLY Forex Forecast By FOREX PLANET today Gold analysis 👆 🟢This Chart includes_ (GOLD market update) 🟢What is The Next Opportunity on GOLD Market 🟢how to Enter to the Valid Entry With Assurance Profit This CHART is For Trader's that Want to Improve Their Technical Analysis Skills and Their Trading By Understanding How To Analyze The Market Using Multiple Timeframes and Understanding The Bigger Picture on the Charts
OANDA:XAUUSD
by ForexMasters2000
XAUUSD first time under the MA200 (4h) in 3 months.Gold broke today under the MA200 (4h) for the first time since August 7th. So far that hasn't invalidated the 5 month Channel Up, in fact today's low makes a perfect Higher Low for the bearish wave. Trading Plan: 1. Buy on the current market price. Targets: 1. 2845 (+7.31% rally, which is the lowest it has so far inside the Channel Up). Tips: 1. The RSI (4h) hasn't been this oversold (reached 20.00) inside the Channel Up. An additional strong buy signal. Please like, follow and comment!! Notes: Past trading plan:
FX_IDC:XAUUSDLong
by TradingBrokersView