XAUUSD | 07.11.2024BUY 2660.00 | STOP 2625.00 | TAKE 2700.00 | Gold continues to consolidate near the support range of 2660.00 - 2643.00. Most likely today we will observe an upward trend.
XAUUSDG trade ideas
Gold’s Sharp Decline Brings Profits; Ready to BuyI predicted it in advance—the election results would boost the dollar, leading to a drop in gold. Do you trust my analysis? Have you ever traded with such precision? If you followed my suggestion, I’m sure you’ve made a substantial profit! Gold’s volatility remains high, and it may drop below 2700 before rebounding. I’m ready to start buying—are you joining in?
Monday XAUUSD Breakout Alert!Attention traders! XAUUSD is on fire, setting new highs with precision! Check this out:
XAUUSD Insight: Locked in a fierce contest between 2683 and 2688. Is a breakout near?
Downside Watch: Stay cautious for potential drops if it dips below this range! Targets: 2676, 2669.
Upside Watch: Look for buying signals if it rises above! Targets: 2693, 2697.
Xauusd buy confirm signal Gold buyers need to reclaim the $2,746 resistance on a daily closing basis to resume its uptrend. That level is the 23.6% Fibonacci Retracement (Fibo) level of the latest record rally from the October 10 low of $2,604 to the new all-time high of $2,790.
Gold now buy 2739
Support 2752
Support 2758
GOLD: Market Is Looking Up! Buy!
Welcome to our daily GOLD prediction!
We made our analysis today using SMC and ICT trading theories, which, combined with our trading experience all point to the upside. So we are locally bullish biased and the target for the long trade is 2,756.562$
Wish you good luck in trading to you all!
Gold Trend 04/11 - S-T peaked Driven mainly by the US election and economic figures last week, the gold price pulled back from the newly formed record high. With the US election approaching, the gold market opened strong early last week. A better-than-expected US consumer confidence on Tue. led to a breakthrough of the previous high at 2758 (1), triggering a new round of S-T buying until it reached 2790 and the US 3Q GDP and ADP employment on Wed. However, the upward momentum reversed on Thursday after the core PCE inflation data, setting off a round of short-selling and profit-taking pushing gold prices back below the 2750-2758 resistance zone(3). Friday's US employment data fell significantly below expectations, but the gold price still failed to close above 2758(3), the week ended at 2735.
Gold prices retreated from 2790 with significant profit-taking action reflected in the number of COMEX gold open interest on Oct. 31st. The profit-taking activities should persist early this week ahead of two major events (the US election and the Federal Reserve interest rate meeting). Unless there is a strong market reaction with a Trump victory or additional aggressive rate cuts from the US Fed. sparking a new round of S-T buying, it is unlikely that gold prices will reach over 2790 this week.
1-hr chart (above) > Gold price broke the support line (2) last week, indicating a slowdown of the upward momentum. The selling pressure was relatively strong above 2758(3) as the price failed to clear the resistance zone(3) after the extremely weak US employment figures last Friday. Before the result of the US election and the US Fed., the S-T trading range is now set at 2710-2750 (4).
Daily Chart (above) > The Gold price was rejected by the upper resistance of the uptrend channel (5) last week, followed by a single-day drop of over $40 last Thursday, an S-T reversal signal has appeared on the daily chart. Investors are waiting for the news to impact the market from the US election and the US Fed. meeting, the S-T trend should remain bearish for now. The first target on the daily chart is at 2715 (6) and the 20-day moving average (7).
If you like our ideas, please give us a 🚀 !
P.To
buy XAUUSDDue to the decrease in interest rates, it is better to look for buying positions on XAUUSD, and I am buying from the indicated areas.
Gold is in the bullish direction after correcting the supportHello Traders
In This Chart GOLD HOURLY Forex Forecast By FOREX PLANET
today Gold analysis 👆
🟢This Chart includes_ (GOLD market update)
🟢What is The Next Opportunity on GOLD Market
🟢how to Enter to the Valid Entry With Assurance Profit
This CHART is For Trader's that Want to Improve Their Technical Analysis Skills and Their Trading By Understanding How To Analyze The Market Using Multiple Timeframes and Understanding The Bigger Picture on the Charts
GOLD / XAUUSD TODAYOn Daily chart we will looking good reverse for long setup with target new higher high.
Gold is still bulish.
Of course in intraday we looking sell setup on M5 and M15 minutes at the moment
Good luck and remember about small risk in your trading
XAUUSD- Bearish Continuation or Reverse...GOLD
Technical Analysis
Gold recently dropped below a key pivot level, signaling a potential bearish continuation. Notably, as we mentioned yesterday already dropped about 85$
Bearish Scenario: If Gold remains below the pivot at 2677, further declines are expected toward the support levels of 2644 and potentially down to 2629. Stability below 2629 would reinforce bearish momentum, targeting 2587 as the next level.
Bullish Scenario: A move above 2677 may trigger a bullish rebound, with an initial target at 2695. Sustained trading above 2706 would suggest further upside potential, aiming toward 2749.
Key Levels:
Pivot Point: 2677 - 2668
Resistance Levels: 2695, 2706, 2720
Support Levels: 2645, 2629, 2606
previous idea:
H-1 SCENARIO [TRUE SMC STRUCTURE MAPPING] gold is showing key levels that may signal its next move. Currently, minor resistance is observed around $2,775, aligned with a downward trendline that could trigger selling pressure if prices approach this level. A failure to break above this could lead to a pullback, potentially driving prices down to the support level around $2,732. Should gold breach the $2,575 level, it may see additional bullish momentum toward recent highs.
The primary support range to monitor on this timeframe is around $2,622, with a critical psychological support near $2,600 if further declines occur. A strong move above resistance, particularly with positive catalysts such as dovish Fed expectations, could pave the way for further gains
Keeping my Selling order / #2,652.80 benchmark TargetFundamental analysis: Within turbulence caused by the U.S. presidential election and Head and Shoulders pattern aftermath, Gold finally broke through the Channel formed since the beginning of August. This does not change the Long-term Bull outlook for now, but the correction now is promising to be greater than the last couple of times. The Bottom line of the next Channel can be the February one, which represents Sellers goal (#2,592.80 – #2,600.80). As Fundamental effects usually correct back half of the Price-action change in the short period that follows, a retest of the Lower line of the August channel seems very likely. Based on this, the obvious strategy is to re-Sell Gold on bigger charts from the psychological levels / benchmarks (these are also Fibonacci retracement levels for the full or local decline).
Technical analysis: So far so good as my first Selling Target is concluded near #2,682.80 Weekly Bottom and local Low's. Overbought Technicals prevailed followed by a strong Bearish reversal in form of Selling candlestick formation that Priced in a Bottom with #2,682.80 as first signs of new-old Support zone appearing, on a Hourly 4 chart’s Three Black Crows candle extension. Despite this, both Hourly 1 and Hourly 4 chart were completely Overbought, and current sequence on Gold was Natural response to such Technical development. No Moving Average still supports Buying bias on any chart, however this is typical Price-action behaviour near Daily chart’s local Bottoms or Top’s. Reversals are not evident and remember that the #2,652.80 - #2,662.80 is a heavy downside Support zone. For now as expected, no signs of Bullish reversal. On such a range bound session, Gold value continues to operate within my Hourly 4 chart's chart’s Bollinger bands. Market closing is adding credence to Sellers, and if market opens on Monday with Selling spike below #2,652.80 benchmark (last strong Support), break of the mentioned zone can aim for another #2,600.80 strong Support line (as cycle showcases that #2,600.80 test might be ahead. Everything in between is Price-action Daily fluctuation which contains no new clues where Price-action will Trade next. Keep in mind however that Technically I can expect Lower levels to be met and tested, however current market structure still holds Medium-term Bullish bias (since Hourly 4 chart is showcasing Bullish presence) and only if #2,700.80 psychological mark breaks and gets re-tested and market closes above (both Weekly and Daily market closing), I can expect Medium-term sentiment to regain Buying status. These multi-session gains on Gold are almost negated with respectful amount of losses Gold delivered and invalidated multi-Month Ascending Channel.
My position: As I expected Fed easing the Rate and which may hurt the DX even more, I have awaited the Fed Rate announcement aftermath and engaged re-Sell order with #2,708.80 since I was aware that Gold will not deliver a move once again above #2,727.80 Medium-term Resistance zone. My order is currently running however I have missed the chance to close the order on #2,682.80 Support / even though my Profit on my re-Sell order is decent already, I will take the Risk and keep the order and close it as close as #2,682.80 Support zone in extension on overall another excellent week for me.
XAUUSD 8H1. Wyckoff Phases and Structural Analysis
The chart is divided into classic Wyckoff Phases—Phase A, Phase B, Phase C, and Phase D—suggesting a potential accumulation or reaccumulation pattern.
Phase A - Reaccumulation: Early stage where preliminary support (PSY) and automatic reaction (AR) are identified, hinting at the beginning of a potential reaccumulation zone.
Phase B - Distribution: This phase includes various swing highs and lows, establishing a broader range, and showing signs of a Secondary Test (ST) in distribution. There's also a Sign of Weakness (SOW) in Phase B, indicating initial distribution signs, but later phases suggest this could be a false distribution.
Phase C - Spring or Test: Typical in Wyckoff theory, this is the phase where the price tests liquidity by pushing lower before reaccumulating. The pattern indicates a possible shakeout to trap sellers.
Phase D - Reaccumulation: In this phase, the Last Point of Support (LPS) has been marked, suggesting that price is preparing to move upwards out of the range, but careful monitoring is needed for confirmation.
2. Elliott Wave Structure
The wave labeling indicates a series of impulsive and corrective waves, with the current high marked as Wave (5) in a diagonal formation.
Diagonal Wave 5: The peak around $2,823.37 and $2,851.21 (1.236 extension) marks the end of a potential diagonal fifth wave, hinting at a possible completion of the trend.
Corrective Waves (1), (2): After reaching Wave (5), the chart indicates corrective waves in orange lines, suggesting that the price could be entering a multi-wave correction phase to retest previous support zones.
3. Key Price Levels and Fibonacci Extensions
Volume Divergence by Wave 5 (1.236 Extension): The chart highlights volume divergence at $2,803.59 and the diagonal completion around $2,823.37, signaling potential exhaustion and a likely reversal or deeper pullback.
Invalidation Levels: Notably, $2,733.24 is labeled as the Invalidation Level for further bullish progression. If price falls below this, the wave structure and bullish continuation are at risk.
Support and Resistance Zones:
POC (Point of Control): Around $2,594.99 is a significant level where trading volume concentrated, acting as support in Phase D of reaccumulation.
PWL (Previous Week Low) and PMH (Previous Month High): These levels serve as short-term reference points for retracement and potential support or resistance.
4. Trading Traps and Manipulation Zones
Creek: The chart marks an area as "Creek," which Wyckoff practitioners recognize as a resistance zone within the reaccumulation phase that needs to be broken decisively for further upside.
SOW (Sign of Weakness) in Phase B: This area is marked to indicate possible price manipulation; it’s designed to induce selling pressure and trap retail traders, only for the price to potentially rebound.
Buy Side Liquidity (BSL): Buy-side liquidity zones are marked at the peaks, suggesting these areas may serve as potential reversal zones due to liquidity grabbing, especially in Phase B.
5. Strategic Points of Interest and Future Outlook
Phase C – Final Test or “Spring”: This phase acts as a last point of support before a more confirmed move higher, assuming the reaccumulation thesis holds. The test in Phase C indicates a potential turning point for another bullish run.
Resistance and Support Lines for Distribution Phases:
Resistance Line at the BC Distribution level might act as an overhead ceiling if prices try to push higher.
Support Line at AR Distribution: If prices fall below this line, it could invalidate the reaccumulation structure and trigger a larger downtrend.
Projection Path: Orange lines map out a potential future wave structure, indicating anticipated moves within the corrective phases, with likely touchpoints at POC (1D) and other key levels. This shows a bearish bias in the short-term as price tests lower levels in a corrective structure.
6. Volume and Market Sentiment Indicators
The presence of volume divergence, especially at key highs in Wave 5, suggests that buying momentum may be waning.
High-Volume Nodes: These levels may serve as potential support or resistance zones where institutional interest is present, and they often act as magnets for price action.
Summary
This chart indicates a complex structure where XAU/USD may be transitioning from a bullish trend into a possible distribution and correction phase, as seen in the Wyckoff reaccumulation/distribution phases. Key levels around $2,594.99 (POC) and $2,733.24 (invalidation) are essential for determining the validity of the reaccumulation thesis. If the price breaks significantly below these zones, it may signal the end of the bullish trend. The setup shows a mixed outlook, with potential for both upward continuation (if reaccumulation confirms) or deeper correction if distribution pressure holds.
GOLD established a falling structure after a sharp declineOANDA:XAUUSD Spot delivery is basically stable after yesterday's plunge. The current gold price is about 2,660 USD/ounce. Previously on Wednesday (November 6), after Trump was elected President of the United States, investors rushed to buy US Dollar, OANDA:XAUUSD plummeted to its lowest level in 3 weeks.
As sent to readers in many articles about the election of Trump, a shock decline in gold is inevitable because Trump's "steering wheel" will support the Dollar from general economic policies.
Trump's victory will boost the dollar as he is expected to propose new tariffs that could cause a spike in inflation and cause the Federal Reserve to pause its easing cycle.
Fed decision upcoming
After cutting interest rates by 50 basis points in September, the market expects the Fed to cut interest rates by 25 basis points this time.
The US economic calendar today (Thursday) will focus on the Federal Reserve's monetary policy decision. The Fed is expected to reduce borrowing costs by 25 basis points to a range of 4.50%-4.75%.
Trump and the Fed
Trump's economic policy proposes imposing taxes, increasing the fiscal deficit, and reducing taxes. His economic advice conflicts with the Fed's anti-inflation policy. Therefore, the Fed will be forced to take a very cautious approach when loosening monetary policy.
The risk of rising inflation after Trump introduced new taxes could slow the pace of interest rate cuts by the Federal Reserve. This is very important because Trump and the Fed are becoming opposing, it is likely that Trump will destroy all previous efforts of the Fed to curb inflation.
For more than 70 years, the Federal Reserve has operated as an independent government agency in the United States, but this tradition may soon be overturned. After declaring victory on Wednesday (November 6), Donald Trump is preparing to talk about "interest rates" after taking office in January 2025, insisting his intuition is better than the Chairman of the Reserve Federal Powell.
For more than 70 years, the US central bank has operated as an independent government agency. When officials meet to decide interest rates, they will not need to consult with the president and other elected officials. That's because, as the former Fed chairman famously said, “The job of the central bank is to get rid of the drinking bowl just as the party is getting started.”
In other words, they have to make unpopular decisions that ultimately seek to bring long-term benefits to the economy. However, once President-elect Trump returns to the White House, the independence the Fed has maintained for many years could be compromised.
Trump's statement was posted on CNN: “I think the president should at least have a say. I feel very strongly,” Trump said about the Fed's interest rate decision at a press conference in August.
Trump added: “I make a lot of money, I'm very successful and I think in many situations I have better abilities than the people at the Fed or the president.”
Analysis of technical prospects for OANDA:XAUUSD
After yesterday's strong price drop, gold has all the technical conditions to decrease in price through the price channel. The fact that gold was sold below the price channel and the 21-day moving average (EMA21) caused the bullish price structure to be completely broken.
Currently, gold is recovering slightly after receiving support from the 0.618% Fibonacci retracement level, and once this level is further broken below, gold tends to continue to decline with a subsequent target level of around 2,600 USD around the 0.786% Fibonacci retracement area.
On the other hand, the Relative Strength Index continues to point downward after breaking the 50 level, which should be considered a negative signal for gold as the RSI's next target is 25. Showing that the downward momentum remains quite wide in the front.
In the near future, technically, gold has the potential to decrease in price with the price channel being the short-term trend.
As long as gold remains in the price channel and below the EMA21 level, the bearish outlook will still be prioritized, and the notable points will be listed as follows.
Support: 2,640 – 2,645USD
Resistance: 2,668 – 2,684 – 2,697USD
SELL XAUUSD PRICE 2708 - 2706⚡️
↠↠ Stoploss 2711
→Take Profit 1 2701
↨
→Take Profit 2 2696
BUY XAUUSD PRICE 2637 - 2639⚡️
↠↠ Stoploss 2633
→Take Profit 1 2644
↨
→Take Profit 2 2649
Gold : Short Term Trading Pattenr Trading Setup:
A Trading Signal is seen in the Gold XAUUSD h4
Traders can open their Sell Trades NOW
m15 TA :
⬇️Sell Now or Sell on 2754.9
⭕️SL@ 2776.0
🔵TP1@ 2713.0
🔵TP2@ 2673.0
🔵TP3@ 2606.1
What are these signals based on?
Classical Technical Analysis
Price Action Candlesticks Fibonacci
RSI, Moving Average , Ichimoku , Bollinger Bands
Risk Warning
Trading Forex, CFDs, Crypto, Futures, and Stocks involve a risk of loss. Please consider carefully if such trading is appropriate for you. Past performance is not indicative of future results.
If you liked our ideas, please support us with your likes 👍 and comments .
Trump vs. Harris: Economic and Policy Impacts on the U.S. Introduction:
The U.S. presidential election is one of the most critical events in global politics, shaping the future of the country’s policies. This year, voters face a significant choice between two candidates with distinct approaches: Donald Trump and Kamala Harris. Their policies will influence the economic, social, and environmental future of the U.S. This script explores the key focus areas of both campaigns, their policy priorities, and the potential impact on the U.S. economy and national debt.
1. Economic Focus in Campaigns:
Donald Trump:
Tax Cuts and Deregulation: Trump emphasizes reducing taxes and deregulating industries to stimulate economic growth. He believes this approach helps businesses thrive and creates jobs.
Job Creation and Manufacturing: Trump aims to bring back manufacturing jobs to the U.S., reduce outsourcing, and bolster domestic industries.
Trade Policies: His "America First" trade policies focus on renegotiating trade deals to benefit American workers and industries.
Stock Market Performance: Trump often points to stock market gains as an indicator of economic health and success under his administration.
Kamala Harris:
Economic Equity and Middle-Class Support: Harris advocates for policies that support the middle class, such as raising the minimum wage and providing tax relief for lower-income families.
Investment in Green Economy: Her plan involves creating jobs through investment in renewable energy and sustainable infrastructure, aiming for long-term economic growth.
Healthcare as Economic Policy: Harris believes in reducing healthcare costs, arguing that affordable healthcare boosts economic productivity.
Support for Small Businesses: She proposes targeted support for small businesses, especially those owned by women and minorities, to foster inclusive growth.
2. Policy Focus in Campaigns:
Donald Trump:
Immigration and Border Security: Trump’s policies focus on strict immigration control and border security to protect American jobs and safety.
"America First" Policy: This policy emphasizes prioritizing U.S. interests in trade, defense, and foreign relations, appealing to nationalistic sentiments.
Law and Order: Trump advocates for strong law enforcement to tackle crime and violence, particularly in urban areas.
Kamala Harris:
Healthcare Reform: Harris promotes expanding access to affordable healthcare, with reforms aimed at improving the healthcare system.
Climate Change and Green Policies: She strongly supports measures to combat climate change through renewable energy and environmental regulations.
Social Justice and Equality: Harris focuses on criminal justice reform, racial equality, and reducing income inequality.
Women's Rights and Reproductive Health: She advocates for protecting women’s rights, including access to reproductive healthcare and equal pay.
3. Impact on U.S. Debt:
Donald Trump:
Tax Cuts and Defense Spending: His tax cuts, similar to those in the 2017 Tax Cuts and Jobs Act, are expected to reduce government revenue and potentially increase the national debt by $1.5 trillion over a decade.
Short-Term Debt Impact: Increased defense spending could further elevate the debt unless offset by spending cuts elsewhere.
Kamala Harris:
Healthcare and Green Investments: Harris’s plans for healthcare expansion and green initiatives could increase the debt by $3.0 trillion over the next decade, unless funded by higher taxes on the wealthy and corporations.
Long-Term Debt Impact: While these investments aim for sustainable growth, the initial cost could significantly raise the national debt if not managed carefully.
Conclusion:
In this election, Americans are choosing between two very different visions for the country’s future. Donald Trump’s focus on tax cuts, deregulation, and strong national policies contrasts with Kamala Harris’s emphasis on healthcare reform, climate action, and social justice. Understanding the economic and policy implications of each candidate's platform is crucial for voters. This decision will shape not only the U.S. economy but also its social fabric and global standing for years to come.
Impact on the Global Economy:
This election will not only determine the direction of U.S. domestic policies but also significantly influence the global economy. The current geopolitical landscape, including ongoing conflicts, adds to the complexity. The policies of the next U.S. administration could shift trade dynamics, global markets, and international alliances, particularly during a time of heightened tensions and uncertainty.
Risk Management During the Election:
During election periods, markets can be highly volatile due to uncertainty. To protect against potential losses, traders should:
1. Reduce Position Sizes: Lower your exposure to minimize the impact of sudden price swings.
2. Set Tight Stop Losses: Use stop-loss orders to limit potential losses.
3. Avoid Overtrading: Stay disciplined and avoid making impulsive decisions based on market noise.
4. Hedge Positions: Consider hedging strategies, such as options, to manage risk.
5. Stay Informed: Keep track of election-related news and updates to adjust your strategies accordingly.
6. Increase Cash Reserves: Holding more cash reduces risk exposure and provides flexibility.
By following these risk management strategies, traders can navigate the election period more safely and protect their capital.
A short position on GOLD for the weekIf they retest the trend then we sell and if they break it and break the right shoulder we will look for a buy
Correction down for goldHi traders,
Last week XAUUSD did exactly what I've said in my outlook. After a small correction it continued up again and dropped after it reached the 1.272 fib extension of wave 3 (orange).
For next week we could see the continuation of a bigger correction down to finish wave 4 (blue).
Let's see what price does and react.
Trade idea: Wait for a (small) correction up on a lower timeframe to trade (short term) shorts.
If you want to learn more about trading with ICT/ SMC concepts and wave analysis, please make sure to follow me, give a like and respectful comment.
This shared post is only my point of view on what could be the next move in this pair based on my analysis. I do not provide signals.
Don't be emotional, just trade!
Eduwave
GOLD_108 2024.11.05 14:24:05 Trading Signal SELLFrankPro Signal for GOLD_108
Type: Screen
Signal: SELL
TP: 2726.69
SL: 2748.14
Entry Price: 2744.84
Analysis for GOLD
Forecast Overall(Short-Term, Long-Term): ST= Strong Down LT= Strong Up
Forecast Methods(Short-Term, Long-Term):
ST=Up LT=Up
ST=Down LT=Up
ST=Down LT=Up
Analysis Method(0)
Based on the provided analysis, I will provide separate short-term and long-term expectations for the XAU/USD price.
**Short-term Expectation (next few days/week):**
Given the current market caution ahead of the US presidential election and the Federal Reserve's policy announcement, I expect the gold price to remain volatile but with a slight upward bias. The technical analysis suggests that the gold price is challenging the key $2,730 demand area, and the 14-day RSI is near 59, indicating some buying interest. Additionally, the support levels at $2,718, $2,700, and $2,673 are likely to hold, preventing a sharp decline.
Therefore, in the short term, I expect the gold price to **stay the same** or experience a **slight increase**, potentially testing the $2,746 resistance level.
**Long-term Expectation (next few weeks/months):**
Considering the two forecast scenarios, I believe that the **Bullish Scenario** is more likely to play out. The mixed labor market report and expectations of a 25 basis points interest rate cut by the Fed are likely to support gold prices. Additionally, the technical analysis suggests that a breakout above the $2,746 resistance level could lead to a continued growth with a potential target above $2,875.
Therefore, in the long term, I expect the gold price to **go up**, potentially reaching the target above $2,875.
Please note that these expectations are based on the provided analysis and are subject to change as new information becomes available.
Result: ST=Up LT=Up
Analysis Method(1)
Based on the provided analysis, here is my assessment of the expected price movement for XAU/USD (Gold) in both the short-term and long-term:
**Short-term (next few days to a week)**
* The price is expected to stay the same or experience a slight decline. The market is cautious ahead of the US presidential election and the Federal Reserve's policy announcements, which may lead to a temporary consolidation or a small pullback.
* The support level near $2,730 is crucial, and if it holds, the price may rebound. However, if it breaks, the price could test the $2,718 or $2,700 levels.
* The 14-day RSI indicates revived buying interest, but it's not strong enough to suggest a significant short-term uptrend.
**Long-term (weeks to months)**
* The price is expected to go up. The forecast suggests that gold may test the support level near $2,690 before rebounding and continuing its growth, with a target above $3,175.
* A breakout above the $2,905 resistance area would confirm the growth scenario, and a successful breakout above $2,800 could lead to a test of the all-time high at $2,790.
* The overall outlook is bullish, with the market expecting a continuation of the uptrend once the uncertainty surrounding the US election and Fed's policy announcements is resolved.
Please note that these assessments are based on the provided analysis and are subject to change as new information becomes available.
Result: ST=Down LT=Up
Analysis Method(2)
**Short-term Analysis (Next few days)**
Based on the technical analysis and market context, I expect the gold price to remain volatile in the short-term, with a slight bias towards a pullback or correction. The 14-day RSI is near 60, indicating some buying interest, but the price is still below the $2,746 resistance level, which is the 23.6% Fibonacci Retracement level of the recent rally.
The key support levels at $2,730 and $2,718 are crucial, and a failure to hold above these levels could lead to a drop to around $2,711. Additionally, the market is cautious ahead of the US presidential election and the Fed's policy announcements, which could lead to price movements of at least $100 in either direction.
**Prediction:** Short-term price movement: **DOWN** (with a target of around $2,711)
**Long-term Analysis (Next few weeks/months)**
In the long-term, the gold price is expected to continue its growth trend, with a potential target above the $3,175 level. The ascending channel and the 21-day SMA at $2,700 provide a strong support base for the price.
However, the long-term outlook is highly dependent on the outcomes of the US presidential election and the Fed's policy decisions. A dovish Fed and a risk-off sentiment could lead to a surge in gold prices, while a hawkish Fed and a risk-on sentiment could lead to a correction.
**Prediction:** Long-term price movement: **UP** (with a target above $3,175)
Please note that these predictions are based on the available data and are subject to change as new information becomes available.
Result: ST=Down LT=Up
GOLDGold is overall bullish and you stand a high chance of winning when you go with the trend i shall be waiting for pullback into this possible fib,trendline and major zone to go long once i see my confirmation
