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XAUUSD OUTLOOK FOR 11/11/20241. Key Levels Highlighted: Major Resistance Level: $2,790.08 – This is marked as the "INVLADATION WAVE 0," indicating the point at which the wave structure is no longer valid. Bearish Order Block (OB): Around $2,722.29 – Serves as potential resistance, highlighted for observing potential price rejection. Support Level: $2,612.61 – This is the "WAVE 1" level, indicating a strong support zone that could serve as a reversal point during a corrective phase. Fibonacci Levels: 0.618 Retracement: $2,722.29, coinciding with the OB, suggesting confluence for resistance. 0.5 Retracement: $2,701.36 – A common retracement level that could act as a potential support or reversal point. 2. Updated Explanatory Style for Outlook: Current Phase Overview: The analysis indicates that XAU/USD is completing Phase D of the Wyckoff Distribution. This phase usually precedes a markdown in price, aligning with the MARK DOWN (8H) label. Wave 5 Completion: The chart shows Wave 5 has potentially concluded, signaling a shift towards a corrective phase. Potential Price Movements: Bearish Scenario: The presence of a bearish OB near $2,722.29 and key Fibonacci retracement levels suggest that XAU/USD might face significant resistance here. If price rejects these levels, a continuation downward is possible, targeting the $2,612.61 support. Bullish Scenario: Should price break above the $2,790.08 resistance (Wave 0), this invalidates the bearish outlook, signaling potential continuation to the upside. Liquidity Analysis: The notation "LOW RESISTANCE LIQUIDITY RUN" suggests minimal resistance if price breaks certain support levels, which could accelerate a move downward. 3. Outlook Summary: Bearish Bias: The chart suggests a cautious outlook with a potential markdown phase. Observing price action at the bearish OB ($2,722.29) and the $2,701.36 Fibonacci level is crucial for confirmation. Corrective Wave Expectations: If Wave 5's completion holds true, a corrective structure (likely ABC) could emerge, pulling prices toward the lower support region around $2,612.61. 4. Key Takeaways and Trading Tips: Watch for Confirmation: Before entering a trade, look for strong rejections or breakouts at the highlighted OB and Fibonacci levels. Risk Management: Place stop losses above $2,790.08 if entering short positions to protect against invalidation of the current wave count. Monitor Volume: Higher volume at these resistance points could strengthen the case for a reversal.
FX:XAUUSDShort
by spacedevil
1
GOLD MARKET ANALYSIS AND COMMENTARY - [Nov 25 - Nov 29]Last week, gold prices continuously recovered from 2,564 USD/oz to 2,716 USD/oz. The reason why gold prices increased sharply this week is because investors are concerned that the war between Russia and Ukraine will take a more serious turn when President Biden allows Ukraine to use long-range ATACMS missiles to fire into Russian territory to in response to Russia's deployment of North Korean troops in the Russia-Ukraine war. Besides, Mr. Biden seems to want to make his mark in the Russia-Ukraine war when he only has about 2 months left in power before handing it over to Mr. Donald Trump. In addition, according to many experts, this move by Mr. Biden may complicate the war between Russia and Ukraine, making it difficult for Mr. Donald Trump to end the hostilities as easily as he announced during the campaign. elect US President... Perhaps most alarming is the nuclear doctrine that Russia emphasizes. It considers any attack by a non-nuclear country supported by a nuclear power to be a joint attack. This means that Ukraine's use of ATACMS missiles also means that the US is directly involved in attacking Russia, making the war between Russia and Ukraine no longer a war between these two countries, but could potentially lead to a world war. War III. However, according to many experts, the US may only provide a limited number of missiles to Ukraine, fearing the dire consequences of this move. Therefore, the war between Russia and Ukraine is unlikely to drag many other countries, especially NATO member countries, into the war. Furthermore, with only 2 months left until Mr. Trump takes office as President of the United States, the war between Russia and Ukraine will soon subside. The need for refuge in gold may continue to increase in the short term as Russia and the US are still taking tough stances in the Russia-Ukraine war. Therefore, next week's gold price may continue to rise even higher. This week, the US announced two important indicators: third quarter GDP and personal consumption expenditure index (PCE) - an important inflation measure of the FED. If Q3 GDP declines and PCE increases, it will be difficult for the FED to resist further reducing interest rates, further supporting the rise in gold prices next week. On the contrary, if GDP increases and PCE decreases, the FED will have more motivation to delay cutting interest rates, causing gold prices next week to be negatively affected. 📌From a technical perspective, on the H4 chart, a head and shoulders pattern is forming, but a few more up/down cycles are needed to confirm. Specifically, if the gold price has a correction phase to around the support level of 2640, then bounces back to break the resistance level of 2711, then it can be expected that the price will continue to maintain its upward momentum above the 2790 threshold. In case of support area If 2600 is broken, it could trigger another sell-off, causing gold prices to fall to around 2500. Notable technical levels are listed below. Support: 2,684 – 2,697USD Resistance: 2,760 – 2,750 – 2,732USD SELL XAUUSD PRICE 2791 - 2789⚡️ ↠↠ Stoploss 2795 BUY XAUUSD PRICE 2639 - 2641⚡️ ↠↠ Stoploss 2635
OANDA:XAUUSD
by Xayah_trading
XAUUSD-RebornXAU/USD Technical Analysis Report Date: 21-11-2024 Summary: Our analysis suggests that XAU/USD has completed Wave A of a corrective downward move from $2790 to $2536.85, representing a drop of approximately 9.0%. Technical Analysis: Daily Time Frame Wave Count: - Wave A: Downward ($2790 - $2536.85) - Wave B: Upward ($2536.85 - $2730) - Wave C: Downward ($2730 - $2258) Chart Pattern: - Descending Triangle - Flag Pattern Indicators: - RSI (14): 40 (Oversold) - MACD (12, 26): Bearish crossover - Moving Averages: 50-day MA resistance Candlestick Patterns: - Bearish Engulfing - Dark Cloud Cover Key Levels: - Resistance: $2730, $2850 - Support: $2536.85, $2450 Conclusion: Wave A's completion indicates a potential upward correction in Wave B. Our analysis suggests targeting $2700, followed by a downward move in Wave C to $2258. Recommendations: - Short-term traders: Consider buying at $2536.85, targeting $2700 - Long-term investors: Monitor the $2258 level for potential buying opportunities Risk Management: - Stop-loss: $2450 - Take-profit: $2700 Disclaimer: This report is for informational purposes only and should not be considered investment advice.
OANDA:XAUUSD
by reborntradingc97754
Global conflicts and Commodities.Gold climbs for 4th session of $2660 per ounce as investors sought safety in the metals as geopolitical uncertainty intensified with escalating Russia Ukraine tensions Global conflicts, like the ongoing Russia-Ukraine war, are driving volatility in commodities markets. Precious metals like gold, silver, and platinum have become safe-haven assets, attracting investors during uncertain times. Rising tensions often push their prices up as demand for stability grows. In my chart 2654 is last zone for by which is already cross above. 1-H supply is frm 80 to 75in extension if breaks then 2700 is near. Asad iqbal khan Neuron Markets
PEPPERSTONE:XAUUSDLong
by AiK-Yousafxai
XAUUSD remains within an ascending channelTechnical Perspective: On the daily timeframe, XAUUSD pared recent losses. The price is approaching the 2700 resistance, where a reversal below this level could prompt a decline toward the ascending channel's lower bound and 2520 support. Conversely, a break above 2700 could lead to a further rise toward its record high near the 2800 resistance zone. The price also holds above the Ichimoku Cloud, indicating the potential for further gains. Fundamental Perspective: Gold prices have recently recovered, rising above 2650 USD per ounce, driven by a flight to safety amid increasing geopolitical tensions, including the escalation of the Russia-Ukraine war. Additionally, markets are focusing on the Fed's upcoming rate decisions, with a slight majority anticipating a 0.25% rate cut in December. Lower interest rate prospects would reduce the opportunity cost of holding gold, a non-yielding asset. However, concerns over inflation have led investors to trim expectations for aggressive rate cuts in the coming months. While gold remains attractive during periods of crisis, risks of prolonged Fed tightening could temper its upward momentum.
FOREXCOM:XAUUSDLong
by lixing_gan
Gold Market Analysis and Strategy Gold prices continue to fluctuate around the 2640 level. The initial short position has already reached the target of 2622. Currently, prices are rising again, and it is expected that the previous high of 2641 will be broken. Trading Strategy: Long Opportunity: Close around 2645 Short Opportunity: Alternatively, wait for the price to rise into the 2646-2655 range, which is anticipated to serve as a resistance zone, before opening short positions (selling). Expected Target: For the short position, a potential downside of approximately $19 is anticipated, targeting a drop back to the 2627-2636 range.
OANDA:XAUUSDShort
by TradingGuide_Dean
XAU ! Nov 18 ! Short recovery 2614XAU / USD trend forecast November 18, 2024 Traders reduced their expectations for rate cuts in December after Fed Chair Jerome Powell stated that the US central bank was in no hurry to lower rates, citing the "remarkably strong" performance of the economy. Elevated interest rates tend to weigh on Gold prices, as they make non-yielding assets like gold less attractive. Conversely, escalating geopolitical tensions in the Middle East and the ongoing conflict between Ukraine and Russia could support safe-haven demand, bolstering the yellow metal. According to Reuters, President Joe Biden's administration has authorized Ukraine to use US weaponry for strikes inside Russia, marking a significant shift in Washington's policy regarding the Ukraine-Russia conflict Short-term recovery - liquidity sweep of resistance zone 2597 - 2614. Downtrend still dominates long-term /// SELL XAU : zone 2614-2617 SL: 2622 TP: 50 - 100 - 200pips (2597) Safe and profitable trading
OANDA:XAUUSDLong
by Moon-ForexAcademy
2
NEW IDEA FOR GOLD#GOLD Increasing geopolitical tensions could lead to an increase in gold By examining the trend in the one-hour timeframe, gold has an important support range in the range of 2663-2633, and now, given the rate being above the bullish Kumo cloud of the Ichimoku indicator, there is a possibility of an increase in price. Overall, this scenario is strengthened that the rate can increase to the resistance of the upper range of the Bollinger Band indicator in the range of $ 2822, provided that it maintains and does not record any one-hour candlestick close below the important support range in the range of 2663-2633.
FOREXCOM:XAUUSDLong
by arongroups