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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.PRO.OTMS trade ideas

Will gold bottom out and rebound due to non-agricultural data?Gold began to fall sharply after hitting around 2390, but it did not continue to fall today, and continued to rise. The highest test during the day was 2757.60, which also continued the overall bullish trend momentum. Although it is not a very strong performance, it does not show a weak performance pattern after the gold price temporarily encountered resistance. The lower support position of gold is near 2739, which is expected to bottom out and rebound, and the upper resistance level is 2771, 2782. In addition, data prices fluctuate greatly and quickly, so pay attention to risk control!
TVC:GOLDLong
by Donald-trading-star
Gold's Slide: A Deep Dive into Today’s Sharp DeclineGold prices took a steep hit today, plunging below the critical $2,700/ounce mark and trading around $2,655, shedding over 800 pips from yesterday’s levels. This sharp decline is largely driven by the strength of the U.S. dollar and the Federal Reserve's high interest rates, which have dampened gold's appeal for investors. The rising rates increase the opportunity cost of holding gold, nudging capital flows toward higher-yield assets. Forecast Should the downward trend persist, gold may test lower support levels near $2,607, following a Fibonacci retracement. Investors are advised to consider short positions while closely monitoring market fluctuations in the near term.
OANDA:XAUUSDShort
by Chipucu
XAU/USD (Gold/USD) chart on a 144-minute timeframe1. Wave Analysis and Elliott Wave Structure The chart follows an Elliott Wave structure, identifying five distinct waves of a downtrend (Wave 1 to Wave 5) followed by a corrective pattern. Notable Wave Points: Wave 5 is projected to potentially end near the 1.618 Fibonacci extension level around 2,843.46, which often marks a strong potential reversal point. Corrective Waves (i-iv): Following the primary downtrend, the upward movement seems to be structured in corrective waves (i, ii, iii, iv), suggesting a possible ABC or zigzag correction in progress. 2. Fibonacci Levels 1.618 Extension at 2,843.46: This level acts as a key Fibonacci extension for a potential diagonal Wave 5 completion, which could serve as a resistance level for price to react or reverse. 1.236 Extension at 2,803.48: This level has been marked with a "Volume Divergence by Wave 5" note, indicating that this might be a significant area of confluence where volume divergence could lead to a price reaction or reversal. 3. Wyckoff Phases and Price Levels Automatic Reaction (AR) and Secondary Test (ST): The chart labels an AR and ST in a possible Wyckoff Phase B, which usually indicates accumulation. This phase is characterized by testing support and resistance levels as the market builds a base. Sign of Weakness (SOW) in Phase B: This is marked below, indicating a loss of momentum in the downward trend and possibly setting the stage for a reversal. Upthrust (UT) in Phase B: An upthrust is noted, which could act as a false breakout above resistance levels, signaling potential distribution if price fails to hold above it. 4. Volume and Divergence Volume Divergence: Marked by Wave 5, this signals that while price may still be moving down, volume may not be supporting it as strongly, suggesting waning bearish momentum and potential for a reversal or a consolidation phase. 5. Key Support and Resistance Levels Resistance Levels: Around 2,790: This level is marked prominently as a psychological level where price might struggle to break above. Recent Swing High (2,800 - 2,810): Located near the top boundary of the corrective range and could act as resistance for upward price movement. Support Levels: 2,674.19 (0.272 Fibonacci retracement): This level acts as a potential support in the context of the current downtrend. SOW in Phase B (Zone around 2,670 - 2,675): This area might act as strong support, especially if the SOW represents the lower boundary of an accumulation phase. 6. Dealing Range and Structural Patterns The chart outlines a Dealing Range between recent swing highs and lows, suggesting a consolidation phase where price could oscillate before choosing a direction. Potential Diagonal Structure: The ongoing correction appears to be forming a potential diagonal or channel. The price is expected to follow a controlled upward move but may encounter resistance near the top boundaries of the channel. 7. Price Objectives and Probable Movements Upward Objective: Price might attempt to move towards 2,800 or higher, reaching a Phase B UT area as the corrective structure unfolds. Downward Objective: If price fails to break above the noted resistance levels and Phase B patterns, it may revisit the support zone around 2,675 - 2,680 or lower. 8. Strategic Points and Trading Considerations W Close (Wave Close): This label near the middle of the range could indicate the end of a wave and a potential consolidation or reversal area. Stop Loss Considerations: Noted as "Good Stop Loss Till STD Hit," suggesting an area where a standard stop loss could be placed, possibly below the recent lows or swing points for managing risk. No Money Protected Swing: A cautionary note near the support area suggests an awareness of risk in this region. Summary of Key Takeaways Price is currently in a corrective phase, possibly forming a complex wave structure after completing a primary downtrend. Key resistance levels around 2,790 - 2,800 and support levels near 2,670 - 2,675 are crucial to watch. The Wyckoff structure and volume divergence suggest a potential base-building phase, though a clear breakout of the range is needed to confirm the direction.
FX:XAUUSDLong
by spacedevil
1
Gold Drops as USD and Bond Yields SoarGold (XAU/USD) is struggling to capitalize on its recent recovery. Strong demand for the U.S. dollar (USD), supported by polls showing Republican candidate Donald Trump leading in key battleground states, is putting pressure on the precious metal. Additionally, the sharp rise in U.S. Treasury yields and the increasing risk appetite are further limiting the appeal of gold, a non-yielding asset. Looking at the 4-hour technical chart, gold is fluctuating between 2.735 and 2.739, continuing its downward trend. The 2.725-2.720 zone is expected to remain a strong support level, and if gold breaks below this range, it could quickly slide toward the 2,700 level. On the other hand, the 2.748-2.750 zone is currently the nearest resistance, preventing gold from moving higher and causing it to fall below this level. This is my prediction. What do you all think about gold's price today?
OANDA:XAUUSD
by Alisa_Rokosz
Gold price analysis November 5Fundamental Analysis Gold prices reversed intraday losses to hit a more than one-week low and traded around $2,738, largely unchanged on the day ahead of the European session on Tuesday. Safe-haven demand stemming from a bitterly contested US presidential election and the risk of escalating geopolitical tensions in the Middle East provided some support for the precious metal. Furthermore, the unraveling of the “Trump deal”, coupled with bets that the Federal Reserve will cut interest rates further amid signs of a cooling US labour market, continued to drag US Treasury yields lower. This, in turn, fueled fresh US dollar selling and became another factor in favour of non-yielding gold amid cautious sentiment across global equity markets. However, the upside momentum in Gold remains limited as traders seem reluctant to place positive bets ahead of the key event risks this week – the US presidential election and the Federal Open Market Committee (FOMC) meeting. Meanwhile, the release of the US ISM Services PMI Index on Tuesday will be looked at for short-term trading opportunities later in the North American session. Technical Analysis Gold is trading sideways in a narrow range between 2747 and 2725. Today the market is focused on this range as it breaks out of the notable port zone of 2758-2760 and 2712-2710 to generate reasonable BUY and SELL signals. Today’s strategy is quite basic in a day when gold is trading dull and trendless.
OANDA:XAUUSD
by TVS-Trader
Trading minute impulseOn the minute timeframe of XAUUSD at the moment we have the completion of the impulse formation. If the price continues to move in the direction of the impulse and the support zones do not allow it to overcome the base of the impulse, it may reach the targets 1 and 2. If the price fails to advance in the direction of the momentum and overcomes the support zone at the base of the momentum, it is very likely that the price will move sideways or against the direction of the momentum.
FXOPEN:XAUUSDShort
by syomking76418
Closing my orders with Profit / prolonged weakness on GoldAs discussed throughout my yesterday's session commentary: "My position: I have engaged Medium-term two re-Sell orders on #2,745.80 (as in previous Buying orders, #2.0 and #3.0 Volumes on each order) with #2,600.80 as an optimal Target. Also, I will start Shorting Gold as Technically as evident on previous cycles, #2,790.80 should represent Ultimate Top zone for now and #2,552.80 - #2,600.80 poses as an excellent Medium-term Target on Gold." I have closed both of my Selling orders (#2.0 and #3.0 Volumes) with excellent Profit a bit earlier than expected on #2,752.80 benchmark as I was Highly satisfied and Profit was too good to be ignored (or allowed additional Risk). I had two Short-term Selling orders (#2,725.80 - #2,766.80 closing point) and when #2,700.80 benchmark gave away, I have added one more Sell on #2,698.80 - also #2,766.80 closing point for second order. My position: Overall I am very satisfied with yesterday's session and the fact that Gold didn't recovered already what was erased / lost of previous Bullish Daily chart's candles confirms my thesis that #2,790.90 might pose as an Ultimate Top's and that we are Trading new Bearish Short to Medium-term cycle. I will for now monitor the Price-action from sidelines as I haven't got intention to Risk more (await how market will digest post-Election day) after spectacular yesterday's session. I will have more with tomorrow's session candle.
TVC:GOLDShort
by goldenBear88
XAUUSD - Stable transactions around 2750 USDOn the 1-hour chart, gold is currently trading around 2,745 USD/ounce, testing a key resistance zone (highlighted in yellow). This level has been challenging to break, indicating that selling pressure remains strong in this area. Key Points to Note Resistance and Support: The current resistance at 2,748 USD is proving difficult to surpass. If gold fails to break above this level, a correction down to the support zone between 2,732 - 2,728 USD is likely. Short- and Long-term EMAs: The EMAs indicate that the bearish trend remains in place, with selling pressure still dominant in the market. If gold fails to break through the 2,748 USD level, we could see a drop towards the support area at 2,732 USD. However, if it manages to break past this resistance, the next target on the upside would be around 2,756 USD.
OANDA:XAUUSD
by Chipucu
99% rate cut odds in election week? With both the election and an upcoming Fed meeting in focus, markets could face a surge in volatility this week. According to the CME Group’s FedWatch Tool, traders are placing a 99% probability on a quarter-point rate cut at the conclusion of the Fed’s policy meeting on Thursday, following a half-point cut in September. After the rate decision, Fed Chair Jerome Powell is expected to speak. But, even if Thursday brings a clear election outcome, Fed officials are likely to sidestep any questions about potential policies from the next administration until the winner assumes office. Only then will they assess how campaign pledges translate into actual policy, watching closely to see how businesses, consumers, and financial markets react before making any further moves on monetary policy.
BLACKBULL:XAUUSD
by BlackBull_Markets
XAUUSD Analysis | Upcoming Election...GOLD recently bounced off the key resistance zone whilst creating all time highs for the last 2 weeks before slowing down before the next quarter phase of $2,800 where we saw a pivot correction into what could be a inner descending channel of the overall long term bull trend. As price approaches a key support level which is met by several confirmations such as the EMA, Dynamic Trend, Lower BB + Latter half of this quarter phase we could see a short term pullback to test that newly created resistance and create a lower high inside the inner channel before descending to fulfil price at these confirmation levels of $2,700 and a suitable long entry point for the long term trend following the correct validations. In previous times following elections the precious metal has had corrections from its price which would increase the probability of this idea but it is still important to be patient and make sure to wait for suitable confirmations to unfold before looking at entries due to the volatility that will occur primarily watching price action to gain better insight into the market movements. If you like this analysis feel free to drop a like and comment your ideas about the upcoming direction of gold below :)
OANDA:XAUUSDShort
by OfficialKieranTrewick
XAUUSD Pullback Set-Up Demand at 2722 Targeting 2700The XAUUSD (gold) market has a strong initial demand zone at 2722-17, where a pullback is expected before facing resistance at 2747-53, which is forecast as a significant supply level. Our major aim is 2700, which corresponds to a robust daily demand zone. Geopolitical developments are boosting gold's appeal as a safe-haven asset. Heightened tensions in the Middle East, as well as the ongoing conflict between Ukraine and Russia, have added to risk aversion, attracting investors to gold. Furthermore, the forthcoming presidential election in the United States on November 5 creates uncertainties about prospective fiscal policy moves. Historical trends demonstrate that election outcomes frequently cause volatility in gold as investors hedge against policy changes. These factors are strengthening demand at important levels, which aids our understanding of potential retracements and target zones. If you find this analysis helpful, please consider boosting this idea. Thanks!
FOREXCOM:XAUUSD
by bluechipfx