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CFDs on Gold (US$ / OZ)

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GOLD trade ideas

GOLD_109 2024.10.31 03:00:06 Trading Signal BUYFrankPro Signal for GOLD_109 Type: Screen Signal: BUY TP: 2832.085 SL: 2769.33 Entry Price: 2787.26 Analysis for GOLD Forecast Overall(Short-Term, Long-Term): ST= Probably Down LT= Strong Up Forecast Methods(Short-Term, Long-Term): ST=Down LT=Up ST=Down LT=Up ST=Up LT=Up Analysis Method(0) Based on the provided analysis, here are my conclusions for short-term and long-term price expectations for XAUUSD (Gold): **Short-term (next few days):** * The price is expected to go down. The analysis mentions a potential short-term correction, with gold possibly falling to support levels at 2677 - 2672 and 2650 - 2642. * The Target Zone of 2740 - 2729 has been reached, and a downward correction may start from the current prices. * Long trades could be considered once the support zones are reached, with the main target at today's high. **Long-term (next few weeks/months):** * The price is expected to go up. The overall trend is considered bullish, with buyers looking to test the $2,800 level. * Technical readings in the daily chart favor another leg north, with key support levels at $2,751.90, $2,739.70, and $2,721.20. * The Elliot Wave Theory and Fibonacci levels analysis also suggests that the trend is still up, and a break of the current structure is needed to confirm the end of the recent wave. Please note that these conclusions are based on the provided analysis and may not reflect the actual market movements. Other factors, such as unexpected economic events or changes in market sentiment, can influence the price of gold. Result: ST=Down LT=Up Analysis Method(1) Based on the analysis, here are my predictions for the price movement of XAUUSD (Gold) in the short-term and long-term: **Short-Term Outlook (next few days to a week)** * Expected price movement: **Down** (correction) * Reason: The price has reached a new record high, and a short-term correction is possible after reaching the Target Zone of $2,740 - $2,729. * Potential support levels: $2,677 - $2,672 * Potential rebound: If the correction occurs, gold may rebound from the support levels. **Long-Term Outlook (next few weeks to months)** * Expected price movement: **Up** * Reason: The overall trend remains bullish, driven by upbeat US Consumer Confidence data, anticipation of key economic releases, and market participants seeking safety ahead of the US elections and the Federal Reserve's decision. * Technical analysis: The 20 Simple Moving Average (SMA) and longer moving averages are all pointing upwards, providing bullish traction. * Potential resistance levels: $2,775.00, $2,790.00, and $2,810.00. Please note that these predictions are based on the analysis of the provided data and are subject to change as new information becomes available. Result: ST=Down LT=Up Analysis Method(2) Based on the provided analysis, here is my assessment of the expected price movement for XAUUSD (Gold) in both the short-term and long-term: **Short-term (next few days to a week):** * Expected price movement: **Up** * Reasoning: The technical analysis indicates bullish traction, with the 20 SMA providing dynamic support around $2,740.60. The indicators are firmly in positive territory, and the support levels are identified at $2,751.90, $2,739.70, and $2,721.20. Additionally, the market drivers, such as the increase in the US Consumer Confidence Index and the cooling labor market, are supporting gold prices. * However, there is a possibility of a pullback, especially if the current wave structure indicates a completion of the wave three on higher time frames. This could lead to a minor correction before the price continues its upward trend. **Long-term (next few weeks to months):** * Expected price movement: **Up** * Reasoning: The bullish case for gold remains firm, with buyers looking to test the $2,800 level. The underlying market drivers, such as the easing wage pressures and the Federal Reserve's monetary policy, are expected to continue supporting gold prices. Additionally, the upcoming US presidential election and the Federal Reserve's monetary policy decision may lead to increased market volatility, which could further boost gold prices as a safe-haven asset. Overall, based on the analysis, it appears that the price of XAUUSD is expected to continue its upward trend in both the short-term and long-term, with a possibility of minor corrections along the way. Result: ST=Up LT=Up
CAPITALCOM:GOLDLong
by orbborisson
Gold prices continue to explode, confirming new record levelsCurrently, gold prices have risen slightly to around $2,777.88 per ounce, marking a 0.12% increase from yesterday. This upward trend is primarily fueled by heightened demand for safe-haven assets as geopolitical tensions and inflationary pressures continue to influence the market. Additionally, investments in gold-backed ETFs and growing demand in regions like the Middle East have provided further support for the metal’s price. Furthermore, while U.S. bond yields remain high—typically a competing factor for gold—investors continue to lean toward gold as a safety net, which has helped sustain its recent gains. Looking forward, gold prices may see further increases if global economic uncertainties and geopolitical risks intensify, bolstering the demand for safe-haven assets. Conversely, should the market stabilize and the U.S. dollar maintain strength, gold could experience a mild pullback in the short term, though this is not likely to be a significant concern.
OANDA:XAUUSD
by Pierce_Bowers
3
XAUUSD: Ready for a Correction After NFP?Analyzing XAU/USD's movement, the price recently hit a fresh all-time high around $2,790 but then experienced a slight pullback to $2,780. Despite this minor drop, the underlying trend remains strongly bullish, driven by the weakness of the US dollar due to mixed macroeconomic data limiting its demand. From a technical perspective, the daily chart shows a clear bullish setup, suggesting the potential for further highs until a significant correction occurs. After a brief corrective dip, technical indicators have resumed their ascent into overbought territory, signaling that buyers are ready to capitalize on minor price dips. The price could break the psychological threshold of $2,800 before the US presidential elections, with the potential to discover new highs beyond the recent record of $2,789.72. In October, the private sector added 233K new jobs, surpassing expectations and temporarily strengthening the dollar. However, Q3 GDP growth at 2.8% fell short of forecasts, adding downward pressure on the dollar. The quarterly Core PCE Price Index was 2.2%, down from the previous quarter’s 2.8% but above the 2.1% expectation. Despite this decline, inflation remains within the Fed’s tolerance range, reducing the likelihood of an impact on the central bank’s policy decisions.
OANDA:XAUUSDShort
by Forex48_TradingAcademy
1
GOLD-Trade Plan 30/10/2024Dear Traders, Based on our earlier analysis, gold touched the 1.618 Fibonacci extension of wave 4 and then retraced approximately 100 pips. Our projection for the end of wave 5 is between 2790 and 2810. I anticipate a significant correction of at least 1000 pips, taking the price down to around 2680. We'll need to wait for wave 5 to fully develop and for confirmation of our analysis before taking any action." Dont Forget Like&Comment please ! Regards, Alireza!
OANDA:XAUUSDShort
by alirezak
Gold short-term day trading plan.From the trend point of view. Compared with long and short positions, the bulls are still slightly stronger. So the operation is still mainly based on low buying. The intraday trend maintains high fluctuations. The amplitude is about 15 US dollars. But it finally returned to the high level in the New York market, which is enough to prove the strength of the bulls. At present, the gold price is maintained at the 2741 line. The analyst of the fast trading team said that in the short term, it can be maintained at a low buy below the price of 2735. Whether the pressure of the upper 2760 line can be broken. If it breaks through, continue to go long. If the pressure is very high. Then short selling at high levels can be maintained in the short term. Short selling at a high level. (This view is for reference only) Specific transactions are mainly based on real-time notifications. There was no loss in trading failures on Monday. Others look at the record by the winning rate. I only measure the record by the losing record. The fast trading strategy is tailored for: novices. Trading losses, those who want to expand profits but do not expand profits, and those who are unclear about the direction and do not know how to analyze the market. If you are also. Then you can try to change your trading style with fast trading strategies and get rid of those hateful labels. OANDA:XAUUSD CAPITALCOM:GOLD BITSTAMP:BTCUSD NYMEX:MCL1! BINANCE:BTCUSDT
TVC:GOLDLong
by George_parse
GOLD Moves: Key Levels to Watch TodayGOLD Analysis Overview Current Market Levels: The market is expected to sell off from the zone of 2780-2785. A potential buy opportunity may arise from the zone of 2760-2755. Intraday Trading Strategy: Sell Zone: Monitor price action around 2780-2785 for potential short positions. Buy Zone: Look for bullish signals around 2760-2755 for potential long entries. Key Economic Indicator: Non-Farm Payroll (NFP) Release: Scheduled for this Friday, which may significantly impact market volatility. Stay alert for potential price swings surrounding the announcement. Trading Considerations: Be cautious and prepare for increased volatility as NFP data is released. Implement proper risk management strategies to mitigate potential losses. Conclusion: If you find this analysis valuable, consider sharing it with your trading community to enhance collaborative insights.
FX_IDC:XAUUSDLong
by bluechipfx
Risk aversion will make gold prices continue to rise!The current trend of gold is a unilateral bullish trend. In the trending market, long positions can not only gain greater profit margins, but also have a greater chance of winning if the retracement is small. But don’t regard it as a top just because the price is high and has retraced slightly. In the bullish trend, even if gold retreats, it will bottom out and rebound. The lower support for gold is around 2776, and the upper resistance is around 2793,2806.
TVC:GOLDLong
by Donald-trading-star
Strong gold will continue to challenge the 2800 mark Gold prices continued to rise today, and have hit a record high of $2,790 per ounce so far, with the technical upward trend remaining intact. The technical signal is clear, that is, bulls are dominant and the trend is long. We had already intervened and followed up before the price broke through the previous high yesterday. After profit-taking, we continued to follow up and look bullish today. The US election is getting closer, and the uncertainty before and after it is bound to increase the market's risk aversion sentiment. At this stage, the time has not yet arrived for the shorts to fully release their momentum, and even if there is a retracement, the trend cannot be reversed. Moreover, we can also see from recent economic data that the Fed's expectations for interest rate cuts have not decreased, and the probability of subsequent interest rate cuts and large interest rate cuts is still there, that is, there are factors supporting the further rise in gold prices. During the rise in gold prices, the world's largest gold ETF saw a reduction in holdings yesterday (-1.72 tons), and the silver ETF saw a reduction in holdings on the 28th (-19.85 tons). This data is only for reference and is not the only basis for judging the trend of gold and silver. Today, Wednesday, the U.S. October ADP employment (small non-farm) and third quarter GDP data will be released in the evening. If the data is higher than expected, it will theoretically have a negative impact on the price of gold, otherwise it will push it up. According to the "Multi-cycle Super Trend Indicator", the upper pressure in the short term is around $2,785, which has been broken through, and further extension can be seen at $2,800 and $2,805. The first support below is $2,772, and then $2,764. Especially in the current month-end period, there is always a time when the power of gold prices is exhausted in the slow rise, so it is necessary to pay attention to the sharp decline after the price approaches or breaks through the $2,800 mark. Last Wednesday, the price of gold hit a new high, and then it was under pressure to consolidate. The sharp dive in the evening swallowed up all the gains during the day, and the single-day decline was as high as $50. Today is also Wednesday, and the past trend may not be completely repeated, but we have to be vigilant.
FOREXCOM:XAUUSDLong
by Yuliya1l11
Gold key levels for week 27th to 01Gold key levels for the upcoming week: Recommended buy and sell levels are as follows: For a buy, I'll consider entering at 2754, expecting the following: - 2760 to 2762 as resistance - 2771 - 2778 to 2780 as key resistance - 2789 If 2789 is breached (though highly unlikely), the next levels would be: - 2806 - 2816 - 2820 On the sell side, I'll look to enter at 2738, anticipating: - 2730 as the first resistance - Then 2720 as another significant resistance - 2714 - 2702 - 2691 - 2680 - 2650
OANDA:XAUUSD
by F0rexBorex
India’s Gold Imports Jump 21.78% on Festive Demand Technical Analyze: The gold (XAU/USD) chart indicates a strong upward trend with the price reaching a key resistance level near 2,804. A break above this level would confirm a continuation toward the next bullish target at 2,816. Bullish Scenario: If the price breaks and stabilizes above the current resistance, it’s likely to continue toward the 2,816 level, as marked by the next bullish station. Bearish Scenario: Failure to hold above the correction point at 2,758 may trigger a pullback towards lower support levels around 2,738 and 2,712. A deeper decline could target the support zone at 2,677. Key Levels: Pivot Point: 2775 Resistance Levels: 2790, 2804, 2816 Support Levels: 2758, 2748, 2738 Trend Outlook: Correction til 2775 or 2758 Above 2775: Uptrend India's Gold Imports Surge Amid Strong Domestic Demand India's gold imports increased by 21.78% to $27 billion during April-September of this fiscal year, influenced by strong domestic demand, according to government data. This rise in imports impacts the country’s current account deficit (CAD). For the same period in the previous fiscal year (2023-24), imports stood at $22.25 billion. An industry expert highlighted that the ongoing festival season has significantly boosted demand, contributing to the increase in imports. previous idea:
OANDA:XAUUSDLong
by SroshMayi
3
10.30Gold accelerates to the top, 2780 watershedThe gold market rose strongly yesterday. It opened at 2742.3 in the morning and then fell back to 2739.5. After that, it rose strongly. After reaching the previous historical high of 2758, the market was under pressure and consolidated to 2745.8. After that, the market rose strongly in the US market due to fundamental stimulus. After breaking the previous historical high, it reached the highest point of 2774.9 and then consolidated. The daily line finally closed at 2774.5. After that, the market ended with a saturated large The market closed with a positive line, and after this pattern ends, today's market has the technical need to impact the 2805 pressure. In terms of points, the longs at 1996 and 2028 below have stop losses followed up at 2600. After the long positions at 2722 were reduced last Friday, the stop loss followed up at 2735. Today's market is 2762 longs and 2759 longs are conservative with stop losses at 2755. The target is 2775. If it breaks through, the target of this round of impact will be at the 2800-2805 pressure.
TVC:GOLDShort
by David_strategy
1