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XAUUSD. Weekly trading levels 3 - 7.06.2024During the week you can trade from these price levels. Finding the entry point into a transaction and its support is up to you, depending on your trading style and the development of the situation. Zones show preferred price ranges WHERE to look for an entry point into a trade. If you expect any medium-term price movements, then most likely they will start from one of the zones. Levels are valid for a week, the date is in the title. Next week I will adjust the levels based on new data and publish a new post. ! Please note that brokers have a difference in quotes, take this into account when trading. The history of level development can be seen in my previous posts. They cannot be edited or deleted. Everything is fair. :) ---------------------------------------------- I don’t play guess the direction (that’s why there are no directional arrows), but zones (levels) are used for trading. We wait for the zone to approach, watch the reaction, and enter the trade. Levels are drawn based on volumes and data from the CME. They are used as areas of interest for trading. Traded as classic support/resistance levels. We see the reaction to the rebound, we trade the rebound. We see a breakout and continue to trade on a rollback to the level. The worst option is if we revolve around the zone in a flat. Do not reverse the market at every level; if there is a trend movement, consider it as an opportunity to continue the movement. Until the price has drawn a reversal pattern. Don't forget to like Rocket and Subscribe!!! Feedback is very important to me!
FOREXCOM:XAUUSD
by Forex_Hoby
GOLD → Price dump before NFP. Will we go to 2400?FX:XAUUSD is manipulatively declining and catching buyers by surprise (liquidation) before the news. Price may start a strengthening phase from strong support (2330-2325) on the back of weak dollar Traders are waiting for NFP to be released at 12:30 GMT. Yesterday, the market received 229K on Initial Jobless Claims, which generally gives hints of a possible scenario. The dollar index may continue to lose ground amid the general environment, markets are slowly but already starting to prepare for Fed policy easing. NFP is expected to be 183K vs. previous 175K, but the focus is on the actual data. If those are below the expected 183K, the dollar will break key support and fall under a wave of sell-offs, which would be a favorable scenario for gold. But, the problem with news is its unpredictability. Data above 185K may strengthen the dollar (But not for long). Resistance levels: 2354, 2374 Support levels: 2328 There is liquidation and strong selling by buyers, but it happens before the news ( there are interesting thoughts, but... ). Below 2328 the price may not be allowed (from a technical point of view) and it would be logical to expect a false breakdown or a rebound from the liquidity block to which the price has approached. Regards R. Linda!
FX:XAUUSDLong
by RLinda
20
GOLD → ECB rate and NFP in the US. What to expect?FX:XAUUSD is supposedly ending the correction wave on the background of fundamentally weaker dollar. ECB rate and US news (Initial Jobless Claims & NonFarm Payrolls) ahead The European Central Bank is expected to cut interest rates for the first time since March 2016 at the end of its June policy meeting later today. Meanwhile, markets now have a better chance of an imminent Fed rate cut amid signs of a slowing US economy. Ongoing geopolitical tensions in the Middle East, continue to act as a safe-haven price for gold. Also, everyone is interested in the NFP (as one of the first signs of the Fed's readiness to loosen the policy), which will be published on Friday. Technically, gold is forming a false break of MA-50 on D1, and breaking trend resistance on H1. All eyes are on the near-term support at 2354-2350 Resistance levels: 2374, 2405 Support levels: 2354, 2350. 2328 Possible support retest (false breakdown or intermediate struggle), which may lead to strengthening of the price. On the background of news, volatility may increase. Regards R. Linda!
FX:XAUUSDLong
by RLinda
8
GOLD → The market is waiting for the news. What could happen?FX:XAUUSD in consolidation ahead of the news. The price after strong sell-offs is accumulating potential, traders are not doing anything yet, at the same time the dollar is breaking trend support. Stalemate situation. A consolidation range is marked on the main chart. It is acceptable to trade from the boundaries of the range either breakout or false breakdown. The complexity of the overall situation is that the news is an unpredictable part of trading. On the technical side: Gold is weak, there is no strong buyer in the market yet (Maybe they are waiting for news). But based on TA, I would see the market as preparing for a break of 2325 followed by a fall to 2300-2275. Fundamentally, the US still has high inflation and the regulators will not let the dollar fall much. DXY is breaking the upside support (which is supposedly a downside signal) but it still has not reached the support and liquidity zone, which is also a sign of a strong index. Resistance levels: 2341, 2351 Support levels: 2325, 2315 Based on the technical behavior of the gold price, a break of 2325 and consolidation of the price below this area will provoke sales. Breakout of 2345-2350 will provoke buying. The situation is complicated by the upcoming news. Regards R. Linda!
FX:XAUUSDShort
by RLinda
19
Bullish falling wedge pattern with Gold #XAUUSD Timeframe 2H Gold dropped from 2450 to 2310, now she is trying to build a bullish falling wedge pattern to reversal ( end of iv ) Elliot Wave has many scenarios but this zone has high R/R for this case, it is invalid if Gold has the new low ( < 2314) if I am correct gold must break the green line and the Close price must stand above the yellow line. TP1 2398 TP2 2421 TP3 open Worst case if stop out ( tight stop loss) Gold will drop below 2280 to 2228 I will share more in X.
PEPPERSTONE:XAUUSDLong
by theoris
Get support from Middle East, GOLD recovers, bound by EMA21Complicated geopolitical developments are counterbalancing the Fed's recent stance to support gold prices. On the one hand, the Fed strengthens the Dollar compared to other major currencies. On the other hand, gold is also supported. Support when potential market risks are likely to flare up and increase the attractiveness of Precious Metals that do not generate yields. Notable news in the Middle East According to the British news network "Middle East Eye", citing Israeli media on May 27, Egyptian and Israeli soldiers exchanged fire at the Rafah border gate on the border between Egypt and the Gaza Strip that day. An Egyptian soldier died in the fire. The incident was first reported by Israel's Channel 13 and Channel 14, which they called "unusual". Regarding details of the incident, it was reported that Egyptian soldiers opened fire on an Israeli truck at the Rafah intersection and Israeli soldiers returned fire. But this statement has not been officially confirmed. Amid the deteriorating situation in Rafah, this news sent safe-haven gold rapidly higher. However, gold also needs more of these types of impacts to reach its original price of $2,400. Egypt's independent English-language newspaper Daily News cited sources as saying Egyptian soldiers were affected by last Sunday's "Rafa massacre", in which Israeli bombings destroyed a refugee camp in Rafah, killing 45 Palestinians. The Israel Defense Forces said a "shooting incident occurred" on the Egyptian border early Monday morning and that it was investigating the incident and that "dialogue with Egypt is ongoing." A spokesman for the Egyptian Armed Forces also confirmed the exchange of fire late Monday, saying that an Egyptian soldier was killed in the incident. In addition to closely monitoring the situation taking place in the Middle East, traders also need to pay attention to developments from the ongoing conflict in Ukraine, etc. Basically, traders need to pay attention to everything. Regardless of any major geopolitical developments happening globally, gold is an asset that easily reacts to sudden news on the market. In recent history, the US-China Trade War, developments in the Middle East at the end of 2019, the Ukraine conflict, and now continuing the war in the Middle East... have all created huge mutations in the world. gold market. During this trading year, we “traders” need to get used to gold moving 2-3% or more in a day, which will happen even more frequently in the near future. Every time a conflict shows signs of escalation, the price of gold creates a new era peak! Analysis of technical prospects for OANDA:XAUUSD Gold is trying to operate around the EMA21 level as it recovers from the technical level of $2,324, which readers noticed in last Friday's edition. However, the recovery momentum is limited with EMA21. For the gold price to technically qualify for upside, it would at least need to break out and return to operating above the trend and near-term target level followed by the 0.236 trend-following Fibonacci extension %, more than the original price of 2,400USD. Meanwhile, gold is at risk of a further decline if it sells off below the $2,324 support level with a target then around $2,305 – $2,300. Therefore, open long positions should be considered protecting behind the $2,324 level as a reasonable position. During the day, the trend of gold price is neutral with price activity intentionally sticking around the EMA21, and the technical levels of interest will be listed as follows. Support: 2,345 – 2,324USD Resistance: 2,384 – 2,400USD 🪙SELL XAUUSD | 2389 - 2387 ⚰️SL: 2393 ⬆️TP1: 2382 ⬆️TP2: 2377 🪙BUY XAUUSD | 2345 - 2347 ⚰️SL: 2341 ⬆️TP1: 2352 ⬆️TP2: 2357
OANDA:XAUUSD
by Xayah_trading
GOLD → Consolidation before NFP. What to prepare for?FX:XAUUSD is strengthening after a false breakdown of range support and is testing resistance with a subsequent bounce. Price is forming a flat and is not ready to go up or down yet. There are reasons for this: Traders are waiting for news that will start to be released in the second half of this week starting Wednesday. The focus is on ISM PMI, Initial Jobless Claims, NFP. Accordingly, I would recommend watching the flat for now: 2354 - 2328 (2320). Most likely the price will be inside this consolidation for some time, the dollar is also standing still. Perhaps there will be an attempt to breakout (false breakout) or even a retest of more distant levels, but in general, due to the fact that there are no major players in the game yet, who are not eager for pre-temporal action, the price will consolidate within the specified range. Resistance levels: 2354, 2374 Support levels: 2328, 2322, 2315 A quick approach to the liquidity zone may lead to a rebound or a false breakdown, accordingly, there is a chance to see local strengthening. We are looking at an intra-range trading strategy. Regards R. Linda!
FX:XAUUSD
by RLinda
5
GOLD recovered to EMA21, Middle East situation tense On the Asian market on Monday (May 27), gold was delivered immediately OANDA:XAUUSD increase rapidly in the short term. Gold price touched 2,347 USD/ounce, setting a session high and increasing strongly by more than 13 USD during the day. OANDA:XAUUSD The gains were supported by a weaker US Dollar and rising geopolitical risks in the Middle East. Tuesday's speeches by Fed officials Bowman, Mester and Kashkari will be closely watched. Affected by the Memorial Day/Spring Bank Holiday, US and UK stock markets will be closed for one day on May 27; CME Group's U.S. crude oil futures and precious metals trading will be suspended at 01:30 Hanoi time on May 28. Gold will get more data from speeches by Fed officials on Tuesday, including those from Bowman, Mester and Kashkari. The US's first quarter gross domestic product (GDP) released on Thursday will be the focus, with GDP expected to grow 1.5% in the first quarter. Stronger-than-expected data could boost the Dollar and continue to pressure gold, whereas weaker-than-expected data would see gold supported and the Dollar weaker. In terms of the fundamental picture, gold is receiving some support that could be transformative as the geopolitical situation becomes complicated again. Previous lessons show that every time the geopolitical situation becomes complicated and escalates, gold sets a new all-time peak. The Israeli army has conducted many air strikes! Killed about 200 people Early on the morning of May 27 local time, the Gaza Strip Media Office issued a statement saying that in the past 24 hours, the Israeli army conducted 10 attacks on 10 areas in the Gaza Strip such as Jebaliya, Nusayrat, and City. Gaza, and northwestern Rafah. Air strikes targeted evacuation centers run by multiple United Nations agencies, killing a total of about 200 people. A day earlier, the Qassan Brigades, an armed faction affiliated with Hamas, said it had launched a "massive rocket" attack on Tel Aviv, Israel, in response to the "massacre of civilians by the regime". Zionism". Analysis of technical prospects for OANDA:XAUUSD On the daily chart, receiving support from the $2,324 gold level rose quickly to test the $2,345 EMA21 price point which is also the short-term target recovery level sent to you in the weekly publication. Now, with the geopolitical situation becoming more complicated, once gold breaks out of the 21-day EMA and moves above the 21-day moving average and returns to the trend, it is well placed to continue. Technically bullish with a short-term target then aiming for the 0.236% Fibonacci extension and more to the original price of 2,400USD. On the other hand, EMA21 is also the nearest resistance, which provides expectations for the possibility of a price decrease with a target level at 2,324USD, more at 2,305USD. During the day, the technical outlook is still leaning towards the possibility of a price decrease in the case of qualifying for the above increase. Notable prices are listed below. Support: 2,324 – 2,305USD Resistance: 2,384 – 2,400USD 🪙SELL XAUUSD | 2380 - 2378 ⚰️SL: 2384 ⬆️TP1: 2373 ⬆️TP2: 2368 🪙BUY XAUUSD | 2306 - 2308 ⚰️SL: 2302 ⬆️TP1: 2313 ⬆️TP2: 2318
OANDA:XAUUSD
by Xayah_trading
GOLD down 0.17%, focus on GDP and Williams' speechThe benchmark 10-year US Treasury bond yield increased more than 1% yesterday and is currently in the Asian trading session today May 30, also increasing 0.09% and surpassing 4.6%. , causing gold prices to lose support and continue to decline. Gold spot price OANDA:XAUUSD currently reported at around 2,334USD/oz, a decrease equivalent to 0.17% on the day. After the price of OANDA:XAUUSD reaching a new all-time high, it encountered a sell-off and fell back to more than 120 US Dollars an ounce from a high of 2,450 USD/ounce. The recent trend of the United States maintaining high interest rates for a longer period of time will support the US Dollar and high US bond yields, putting some pressure on the precious metals market. However, from a more general perspective if the Federal Reserve begins to cut interest rates in the future, it will significantly support gold prices. In addition, with the support of factors such as central banks continuously increasing gold purchases and the increasing instability of the global geopolitical situation, the potential for gold prices to increase in the near future still remains. Federal Reserve (Fed) officials have made hawkish comments, stimulating demand for the dollar recently. As a result, market sentiment worsened and the US Dollar increased in value. Traders were still absorbing hawkish comments from Federal Reserve official Neel Kashkari on Tuesday. He said Fed officials are not ignoring interest rate hikes, adding that they could cut rates up to twice by the end of 2024 in case they do. This week, traders are preparing to release April's personal consumption expenditures (PCE) price index, the Federal Reserve's preferred measure of inflation. Core PCE is expected to increase 2.8% year-over-year, while overall PCE is expected to increase 0.3% month-over-month. If data shows a rise in inflation this will boost sentiment to keep interest rates high for longer. This situation is negative for gold prices because the opportunity cost of investing in non-yielding assets such as gold is increasing. This scenario will be beneficial for interest-earning assets and US Dollar yields. During this trading day, traders should also pay attention to the US GDP Index data, Initial Jobless Claims and Speech by FOMC member Williams. Analysis of technical prospects for OANDA:XAUUSD After the gold price failed to break above the trend (a) note to readers in previous issues it came under pressure and fell back to test the initial notable support level at 2,324 USD. It is worth mentioning that the gold price has fallen below the EMA21 level, providing favorable conditions for a bearish outlook in the near future. If gold falls below the initial support at $2,324 it could continue to decline towards $2,305 – $2,300 in the short term. The relative strength index (RSI) is still pointing down without reaching the oversold level, which shows that there is still technical room for downside. Only when gold moves above the trend will it have enough conditions to continue to recover and increase in price. For the rest of the day, the technical outlook for gold prices leans towards the possibility of a decrease in price with notable positions being identified. listed as follows. Support: 2,324 – 2,305 – 2,300USD Resistance: 2,340 – 2,345 – 2,353USD 🪙SELL XAUUSD | 2379 - 2377 ⚰️SL: 2383 ⬆️TP1: 2372 ⬆️TP2: 2367 🪙BUY XAUUSD | 2306 - 2308 ⚰️SL: 2301 ⬆️TP1: 2313 ⬆️TP2: 2318
OANDA:XAUUSD
by Xayah_trading
XAUUSD: First 4H Death Cross in almost 5 months! Is it bearish?Gold is neutral on the 1D timeframe (RSI = 47.738) but turned bearish on its 4H technical outlook (RSI = 42.512, MACD = -2.860, ADX = 30.716) as it formed the first 4H Death Cross since January 15th. If Gold fails to reclaim the 1D MA50 and establish a week of trading over it, we project a slow decline same as January-February aiming at the S1 level (TP = 2,300). The long term trend will remain bullish though as long as the 1D MA100 supports. See how our prior idea has worked out: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
FX_IDC:XAUUSDShort
by InvestingScope
1
GOLD → Correction for liquidity. Should we wait for the fall?FX:XAUUSD has been updating the low to 2314 since the opening of the session and is forming a correction within which it is testing the previously broken consolidation support. The fall may continue from the liquidity area. The fundamental and technical background for gold is negative at the moment. A possible area of interest for the market may be the area of 2305 - 2280. Accordingly, based on the general data, we can assume that a retest of the resistance area 2328-2336 may end in a false breakdown with a subsequent decline to the targets indicated on the chart. There is a possibility of price entry into the range and an attempt to rise to 2354, but in general, it will be regarded as an attempt to gather a more liquid position before reaching a global and promising target. Let me remind you that globally we have a bullish trend, within which a local bearish trend is forming. Resistance levels: 2328, 2336, 2354 Support levels: 2306, 2285 It is worth to keep an eye on the mentioned resistance areas. False breakdown followed by price consolidation below the mentioned zone will be a confirmation of bears' readiness to go down. Regards R. Linda!
FX:XAUUSDShort
by RLinda
5
XAUUSD forming the first 4H Death Cross in 5 months!Gold (XAUUSD) broke below the 1D MA50 (red trend-line) and is forming today the first 4H Death Cross since January 12. As we mentioned on our previous analysis, we expect the yellow metal to trade sideways on the medium-term and that involves the price testing the May 03 Low on a potential contact with the 1D MA100 (green trend-line). This will be a mirror trade of the previous Accumulation Phase (late 2023 - early 2024), when Gold made contact with the 1D MA100 on February 13 2024 and then immediately started the new Bullish Leg. Our Target remains 2280. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
FX_IDC:XAUUSDShort
by TradingShot
GOLD → The calm before the storm. 2400 or 2200?FX:XAUUSD reduces volatility and shrinks into a narrow range before the news. US GDP did not play any role and traders are waiting for the general fundamental background. Locally, the downtrend. The trend is downtrending, but on yesterday's news the price is trying to break the channel resistance, forming a consolidation of the price above the line. But if the price returns to the channel, due to the formed consolidation, the market may see a strong momentum towards 2280. Ahead of the news, traders are waiting for PCE. But, the market believes that the index will remain at the same level and this generally complicates the situation because if in fact the situation changes it may trigger a violent reaction Resistance levels: 2354, 2374 Support levels: 2328, 2306 Globally bullish trend, but there is no strong buyer yet. Everyone is waiting for the news. Locally the trend is bearish, to confirm the change of the trend to a local bullish one, the price should overcome the area of 2354 - 2364 and consolidate above, in this case - the way to 2400. But, a break of 2328 will make the market panic Regards R. Linda!
FX:XAUUSDLong
by RLinda
14
GOLD fell last week, the market will pay attention to PCEAlthough central bank buying and strong Asian demand have created a long-term fundamental bullish trend for gold, OANDA:XAUUSD , but uncertainty surrounding the Federal Reserve's monetary policy continues to create large short-term fluctuations, mainly with mixed pressure to strengthen the US Dollar's position. Gold prices rose to a record high above $2,450 an ounce earlier this week as the market began to consolidate expectations that the Federal Reserve will cut interest rates twice this year. However, the breakout to create a new all-time high was short-lived as gold prices fell more than $100 this week. Minutes of the Federal Open Market Committee meeting showed hawkish sentiment, with the central bank reluctant to cut interest rates as inflationary pressures remain high. The meeting minutes stated: "Participants noted that first-quarter inflation data were disappointing and that various indicators pointed to strong economic growth. They estimated that it would take a long time." than previously expected to get inflation closer to 2%.” The minutes also noted that some committee members were willing to raise interest rates if inflation continued to escalate. This news has delayed interest rate cut expectations and November could replace September as the date for the first rate cut. This change has pushed U.S. Treasury yields higher and the U.S. dollar stronger, thereby hitting non-yielding precious metal prices. Gold market OANDA:XAUUSD will be very sensitive to inflation data next week The Fed's preferred measure of inflation, the core personal consumption expenditures (PCE) index, will be released next Friday. Signs of easing price pressures could revive hopes of a Fed rate cut, pushing gold prices higher. If the PCE report is higher than market expectations, it will continue to provide another source of "energy" that has a negative impact on the Fed's interest rate cut expectations, causing gold prices to fall even more. While Friday's inflation data will be the main focus in the economic week ahead, broader financial markets will also be closely watching the latest US GDP and consumer confidence data. Notable economic data and events next week Tuesday: Conference Board consumer confidence index Thursday: Preliminary US Q1 GDP, weekly jobless claims, pending home sales Friday: Personal Consumption Expenditures (PCE) and US Personal Income and Expenditures Analysis of technical prospects for OANDA:XAUUSD Although the gold price has recovered from the technical level of 2,324 USD noted by readers in the last issue, the recovery momentum was soon defeated by the horizontal resistance level of 2,345 USD, the price point marked with moderate attention. horizontal resistance and also the price point of EMA21. As long as it cannot break and move above EMA21, it is still not technically eligible to increase in price. For gold price to be eligible to increase in price, it at least needs to operate above EMA21 and return. above the trend line again, this is also considered resistance, creating technical pressure on gold prices at the present time. In case the aforementioned resistance confluence area is broken above, gold has the opportunity to rally further and head towards the 0.236% Fibonacci levels and the $2,400 level in the short term. On the other hand, if the $2,324 horizontal support level is broken below gold could continue to decline more to the 2,304 level and more to the $2,300 raw price level in the short term. Technically, the gold price is in more favorable conditions for the possibility of a price decrease, while the Relative Strength Index is pointing down without reaching the oversold level, this shows that gold still has room to fall. Notable prices will be listed as follows. Support: 2,324 – 2,304 – 2,300USD Resistance: 2,345USD 🪙SELL XAUUSD | 2371 - 2369 ⚰️SL: 2375 ⬆️TP1: 2364 ⬆️TP2: 2359 🪙BUY XAUUSD | 2289 - 2291 ⚰️SL: 2285 ⬆️TP1: 2296 ⬆️TP2: 2301
OANDA:XAUUSD
by Xayah_trading
1
XAUUSD. Weekly trading levels 27 - 31.05.2024During the week you can trade from these price levels. Finding the entry point into a transaction and its support is up to you, depending on your trading style and the development of the situation. Zones show preferred price ranges WHERE to look for an entry point into a trade. If you expect any medium-term price movements, then most likely they will start from one of the zones. Levels are valid for a week, the date is in the title. Next week I will adjust the levels based on new data and publish a new post. ! Please note that brokers have a difference in quotes, take this into account when trading. The history of level development can be seen in my previous posts. They cannot be edited or deleted. Everything is fair. :) ---------------------------------------------- I don’t play guess the direction (that’s why there are no directional arrows), but zones (levels) are used for trading. We wait for the zone to approach, watch the reaction, and enter the trade. Levels are drawn based on volumes and data from the CME. They are used as areas of interest for trading. Traded as classic support/resistance levels. We see the reaction to the rebound, we trade the rebound. We see a breakout and continue to trade on a rollback to the level. The worst option is if we revolve around the zone in a flat. Do not reverse the market at every level; if there is a trend movement, consider it as an opportunity to continue the movement. Until the price has drawn a reversal pattern. Don't forget to like Rocket and Subscribe!!! Feedback is very important to me!
FOREXCOM:XAUUSD
by Forex_Hoby