Get started

Goldtechnicalanalysis

Today's market trend analysis and exclusive trading strategy.Gold continued its rollercoaster ride today, with market sentiment clearly shifting ahead of the interest rate decision, resulting in very limited overall volatility. On one hand, the market has largely priced in the rate cut expectations, with a consensus now widely believing there's an over 80% probability of a 25 basis point cut by the Fed. This "expectation fulfilled" market sentiment is unlikely to generate significant volatility unless the outcome surprises us. What truly warrants attention is not the rate cut itself, but rather the post-decision guidance on the interest rate path, including the latest dot plot, economic projections, and Powell's remarks at the press conference. These signals will directly influence the market's assessment of the future pace of rate cuts, especially the policy path in 2026, which will be crucial in shaping the next gold price trend. In this market environment, everyone must maintain a steady pace and avoid greed. With unclear direction and limited volatility, caution with funds is crucial. This type of market is most prone to losses from emotional trading. In the current situation, pay close attention to the bottom and avoid making trades you're not confident in, or taking unnecessary risks. If a clear structure and direction emerge later, I will notify everyone immediately so you can follow the trend. Market opportunities can wait, but risks never wait. Staying calm, seeing clearly, and then acting is the true path to profit.
OANDA:XAUUSDShort
by Daniel_PrimeFX
What will happen to gold next week?Gold Price Analysis: Gold closed perfectly on Friday. Friday's recommendation was to short gold, which reached a high of around 4259 before falling back to close near 4198, breaking below 4200 again. After breaking out of the triangle consolidation pattern on the hourly chart, gold also broke yesterday's high. The evening's decline makes a pullback next week more anticipated. Next week, we will continue to monitor the support level around 4175-4160, and the resistance level around 4220-4230 (the high of the evening's rebound). The wide-range fluctuation continues, with 4200 acting as a short-term watershed. Trading requires patience; whether buying on dips or selling on rallies, wait for the midpoint and upper trendline. Furthermore, no medium-term opportunities were filled this week; only short-term trades were executed. Gold has entered a small triangle consolidation pattern. This triangle is worth watching, as there are two possibilities: either it forms a pennant consolidation pattern, or it maintains a range-bound or wide-range consolidation. Is a sharp decline possible? Yes, we need to pay attention to the upward trendline and lower our expectations. Gold Technical Analysis: Currently, $4200 is the focal point. The key support level going forward is the $4175-$4160 area, which we've emphasized. A break below this level would trigger a strong downward move. Before that, as we've stressed, there will be repeated rallies. Regarding resistance, the first area is clearly $4220-$4230, which is a short-term minor trendline resistance. The key area to watch is $4255-$4265. In other words, if the price rallies but doesn't break through this level, the downside is expected to continue. In summary, our trading strategy for Monday is to primarily sell on rallies and secondarily buy on dips. The key resistance level to watch in the short term is around $4220-$4230, and the key support level is around $4175-$4160. Please stay tuned.
OANDA:XAUUSDShort
by Daniel_PrimeFX
15
Gold prices fell as expected, a bearish outlook.Gold Price Trend Analysis: Gold traded in a range on the previous day, closing with a bearish candlestick with upper and lower shadows. Overall, gold continues to fluctuate without a clear directional trend. The market is awaiting the Fed's interest rate decision, and it seems we need to wait for the data to determine the direction. Yesterday's rebound encountered resistance near 4220 and fell as expected. Gold is currently maintaining a slightly weaker, range-bound trend on the daily chart. Short-term moving averages are starting to turn downwards, and the price center is gradually shifting lower, suggesting further downside potential. Short-term support is expected around 4165-4150. Gold Technical Analysis: On the 4-hour chart, the price broke below the short-term support zone, and the candlestick pattern is gradually coming under pressure from the short-term moving averages, maintaining a slightly weak and volatile trend. In the short term, attention should be paid to a second downward move after a slight rebound. The 4-hour chart shows divergence, with the price falling back after failing to break through the 4220 level yesterday. Recently, it has been maintaining a range of 4170-4220, but the highs of this week's rebounds have been gradually decreasing, indicating that the bulls' upward momentum is weak, unlike the previous surge. Currently, it is still maintaining a volatile trend. On the hourly chart, after continuous fluctuations, the technical pattern shows signs of gradual repair. Short-term moving averages are starting to turn upwards, suggesting potential for a short-term rebound. Pay attention to the short-term rebound and repair. Currently, the support level for gold remains at 4165-4150, while the short-term resistance level is around 4210-4220. If it continues to be pressured in the 4210-4220 area, shorting on rallies is still an option. If support is found at 4165-4150, a short-term rebound is possible. In summary, today's trading strategy for gold is to primarily sell on rallies and secondarily buy on dips. The key short-term resistance level to watch is around 4210-4220, and the key short-term support level is around 4165-4150. Please follow the trend closely.
OANDA:XAUUSDShort
by Daniel_PrimeFX
Gold prices fell as expectedfollowing a continuous bearish trendAnalysis of the gold market trend: Gold has no fluctuations today. Gold has failed to rebound in the US market and is still under pressure at 4220. Gold fell as expected. The gold relay continued to win on Friday, and gold won 3 consecutive victories. The market is currently waiting for an interest rate cut. Before the interest rate cut, we will continue to focus on high altitudes. We have also made it clear that we are shorting near 4220, and the highest is near the 4219 line, which is basically consistent with our expectations. Let’s first look at the line near 4170-4160! Gold Technical Analysis: Looking at the 1-hour chart, gold is still in a generally downward trend with weak rebounds. If the rebound in the US session continues to face pressure in the 4200-4220 area, shorting at higher levels is possible. With the Fed's interest rate decision approaching, gold is likely to remain range-bound. The hourly chart shows a sideways movement today, with signs of a breakout. A large bearish candlestick completely engulfed two bullish candlesticks, a bearish engulfing pattern. This is a time-for-space consolidation, and the short-term support around 4180 is unlikely to hold. Continue to watch for support around 4160-4150. In summary, today's trading strategy for gold is to primarily sell on rallies and secondarily buy on dips. The key resistance level to watch in the short term is around 4200-4220, and the key support level is around 4160-4150. Please follow the trend closely.
OANDA:XAUUSDShort
by Daniel_PrimeFX
Gold is bullish – another perfect day!Gold Technical Analysis: Looking at the current trend, gold rebounded after testing the lows again today. We are treating it as a range-bound market. We recommended buying around 4185-4170, which was reached multiple times. Gold has now surged as expected, with the next resistance level around 4230-4240 USD. Gold has recently experienced a slight dip, but this doesn't affect the bullish trend; in fact, it could be the start of a bullish rally. Gold prices only rebound after a dip; they won't bounce back from where they are. Therefore, this dip presents an opportunity for the bulls to exert their strength. On the daily chart, the price is still holding above the moving average. Although it closed with a bearish candlestick, the lower shadow indicates a clear nightmare for the bears. It has consistently held above the support line. The previous low was around 4164, followed by a rise to around 4241, and today's pullback to around 4175. Clearly, the lows are continuously rising, and the slope remains upward. We continue to watch the 4230-4240 area!
OANDA:XAUUSDLong
by Daniel_PrimeFX
2
How to properly seize gold trading opportunities?Gold Technical Analysis: Gold rebounded yesterday, finding support near the 5-day moving average, but as expected, it encountered resistance around 4230 and retreated to around 4195. Weaker-than-expected ADP non-farm payroll data caused another rebound to around 4241, but the price subsequently retreated again to around 4195. The daily chart ultimately closed with a bearish doji candlestick with an upper shadow. Reviewing yesterday's price action, although there was a rebound, it failed to break Tuesday's high, indicating market apprehension about Tuesday's bearish candlestick. The positive ADP data only pushed the high to around 4241, suggesting a weakening of bullish momentum. A short-term technical correction is possible. Based on the daily chart structure, the key support level to watch today is the 10-day moving average around 4180-4170, while the resistance level to watch is around 4230-4240. Returning to the hourly chart, gold is currently trending upwards within a range. During the US session, consider a buy-on-dips strategy around the 4180-4170 area. If the previous high of 4230-4240 resistance fails to hold, then consider shorting. Plan your trade, trade your plan. There are no gods in this world; it's just about seeing one step ahead. When you've considered everything that might happen, victory is assured. In summary, today's gold trading strategy is to primarily buy on dips and secondarily sell on rallies. The key resistance level to watch in the short term is around 4230-4240, and the key support level is around 4180-4165. Please keep up with the pace.
OANDA:XAUUSDLong
by Daniel_PrimeFX
Recent Gold Market Dynamics, Analysis, and Strategies!Gold rebounded yesterday, finding support around the 5-day moving average, but as expected, it encountered resistance near 4230 and retreated to around 4195. Influenced by the anticipated ADP non-farm payroll data, the price rebounded again to around 4241, but subsequently retreated back to around 4195. The daily chart ultimately closed with a bearish doji candlestick with an upper shadow. Reviewing yesterday's price action, although there was a rebound, it failed to break Tuesday's high, indicating market apprehension about Tuesday's bearish candlestick. Even the positive ADP data only pushed the high to around 4241, suggesting a weakening of bullish momentum. A technical correction is possible in the short term. Based on the daily chart structure, the key support level to watch today is the 10-day moving average around 4170, while the resistance level to watch remains around 4230-4240. Based on the hourly chart, gold may trade sideways today. There is short-term trendline resistance above, which coincides with the upper limit of the range around 4230-4240. Therefore, the 4230-4240 area can be considered a key resistance level today. On the downside, pay attention to the short-term support area around 4180-4170. If the intraday structure shifts downward, there is still a possibility of going back to around 4150. In terms of trading strategy, gold is expected to remain range-bound today, maintaining a strategy of buying low and selling high within the 4240-4170 range. Avoid overly extended directional expectations; first observe the range, then look for a breakout. Watch for resistance around 4230-4240; a rebound failing to break this level would be a good entry point for short-term short positions. On the downside, watch for support around 4180-4170; a pullback and stabilization would present an opportunity to buy on dips.
OANDA:XAUUSDShort
by Daniel_PrimeFX
Perfectly captured the intraday gold price trend!Gold Technical Analysis: Gold's volatility today was smaller than expected. It opened near 4200, rebounded, weakened and pulled back after approaching 4230, then rebounded again near 4194. The overall range was less than $50. Recent gold price movements have been volatile, mainly due to the approaching Fed rate cut, market volatility from economic data and official speeches, leading to poor continuity in gold's price action. However, any significant pullbacks have been followed by rapid rebounds. Furthermore, the rising expectation of a rate cut continues to provide support for gold. Therefore, we have been sharing a buy-on-dips strategy recently, and today's opportunities for both long and short positions were accurately captured. Those who are currently out of the market can continue to enter long positions on pullbacks. On the hourly chart, gold's current trend is one of upward oscillation. During the US session, consider a buy-on-dips strategy around 4200-4180. If the previous high of 4250-4260 resistance fails to hold, then consider shorting. Plan your trade, trade your plan. There are no gods in this world; it's just a matter of seeing one step ahead. In summary, today's gold trading strategy is to primarily buy on dips and secondarily sell on rallies. The key resistance level to watch in the short term is around 4250-4260, and the key support level is around 4200-4180. Please keep up with the pace.
OANDA:XAUUSDLong
by Daniel_PrimeFX
We perfectly capitalized on multiple bottoming out and rebounds!Yesterday, the bulls tested the bottom and rebounded, reaching a low of around 4163 in the US session before rebounding to a high of around 4229, approaching yesterday's high of 4235. Although it is currently undergoing a slight pullback correction, the overall trend is relatively bullish, and there is a possibility of further upward breakout after a period of consolidation. The support level below is currently around the psychological level of 4200, which may be breached. However, given the current situation, the possibility of a continuous decline is relatively small. After all, in a continuous upward trend, yesterday's single bearish candle will serve as an important indicator of bullish correction. The key support level below remains around 4190-4180, which is crucial for the subsequent bullish or bearish trend. If the price continues to consolidate above 4200 during the European session, you could consider taking a small long position if conditions permit. The key resistance level remains around yesterday's high of 4235. If this level is broken, the price may continue to rise. However, for those seeking a more conservative approach, it is advisable to wait for a pullback before taking long positions. If the price pulls back to the 4200-4180 range during the day, consider taking long positions in batches.
OANDA:XAUUSDLong
by Daniel_PrimeFX
Gold rallies again after a V-shaped recovery.Gold has once again exhibited a typical bottoming-out rebound pattern. After dipping to a low of around 4181 during the day, it quickly stabilized and rebounded. Currently, gold has successfully regained its footing above 4200, and the bullish structure remains intact. We accurately placed long orders around 4182, and as expected, successfully took profits above 4200. Once again, we grasped the rhythm, and our trading strategy remains clear: if a pullback doesn't break through, we will continue to focus on buying on dips. This is not blindly chasing the rise, but rather based on the current international environment, which continues to favor gold prices, coupled with the constantly strengthening bullish technical structure. Following the trend is our core trading logic. From a 4-hour chart perspective, the key resistance level to watch is around 4250-60, a crucial resistance zone that the bulls must break through. On the downside, the key support level is around 4180-4170, a core support level in this current structure. As long as this level holds, the bullish momentum will remain unchanged, and the overall trend will continue its upward movement within a range. The more thorough the pullback, the clearer the opportunities. We will continue to patiently wait for key levels, execute our plan, avoid chasing rallies, and refrain from impulsive actions. If you've been experiencing chaotic trading lately, struggling to determine the direction, and frequently getting caught in market fluctuations, feel free to discuss it with me. Perhaps what you lack isn't luck, but a sound trading strategy. I will provide timely updates on specific entry points and strategies at the bottom; just stay tuned.
OANDA:XAUUSDLong
by Daniel_PrimeFX
The bulls are correcting before continuing their upward surge!Gold opened lower but rebounded, quickly stabilizing around 4192. Bulls launched a counterattack from the lows, reaching a high of around 4226 before entering a period of consolidation and pullback. The current movement is still within a normal adjustment structure, with some room for further retracement. In terms of trading, focus on the key support zone around 4200-4190, which was broken after the previous surge. As long as this zone holds, the strategy remains to buy on dips. The international macroeconomic environment continues to favor gold, and the technical structure also remains bullish. Therefore, buying on dips is crucial, rather than blindly chasing highs – this is the core of sound trading. Looking at the 4-hour chart, the resistance level to watch is around 4250-4260, a key resistance level. Support is seen around 4205-4190, a crucial support level for the bulls. Therefore, today's strategy remains to patiently wait for pullbacks at key levels. As long as the support holds, the potential for further bullish movement remains significant.
OANDA:XAUUSDLong
by Daniel_PrimeFX
A perfect grasp of both bullish and bearish trends.Gold remains in an overall bullish trend, consistently hitting new recent highs. The bullish momentum remains strong, and pullbacks during the US session present buying opportunities. After testing the lows again in the US session, gold rebounded, maintaining its bullish strength. Continue to buy in the 4225-4215 range during the US session. The 1-hour moving averages are still in a bullish golden cross and diverging upwards, indicating further upward momentum. Gold rebounded strongly after testing the lows around 4215 in the morning, and again during the US session. The highs during pullbacks are progressively higher, suggesting continued buying opportunities during the US session. The principle is simple: follow the trend. Gold is currently in a bullish trend, and pullbacks present buying opportunities.
OANDA:XAUUSDLong
by Daniel_PrimeFX
Will gold prices fall after a surgeWhat will become ofthe marketGold Technical Analysis: Today, the gold market was paralyzed due to a data malfunction on the CME Group, leading to the closure of all gold trading. Due to the Thanksgiving holiday, trading was relatively quiet, and overall price fluctuations were not significant. However, the overall trend remains bullish. Looking at the intraday price action, fundamental uncertainties exacerbated market sentiment volatility, but the overall trading range remained within the expected range of 4220-4155. This indicates that with the US market closed today, market sentiment remains cautious, not blindly following sudden fundamental developments or completely deviating from technical expectations. However, this also reflects the current market's lack of direction and the risk of sudden price movements due to other factors. Gold is still trading within an upward channel on the hourly chart. A pullback to the lower channel support suggests a continued bullish trend. During the US session, gold is expected to fall back to 4160, presenting an opportunity to buy on dips. The hourly chart also shows gold at the upper edge of a range-bound pattern, potentially forming a support/resistance level. Support lies around 4160, the starting point of the morning's rise, which could become a key level for determining future direction. Key resistance is around 4220; a break above this level could lead to a challenge of the previous high near 4245. The recent upward movement after the open may be due to pent-up energy from the past two days of consolidation. Currently, the market trend leans towards an upward consolidation, so our trading strategy should focus on the bullish direction.In summary, the recommended trading strategy for gold is to primarily buy on dips and secondarily sell on rallies. The key resistance level to watch in the short term is 4240-4250, while the key support level is 4170-4160. Please stay tuned for further updates.
OANDA:XAUUSDLong
by Daniel_PrimeFX
6
What is the intention behind the surge in gold prices at theopenLast Friday, due to Thanksgiving, market liquidity was limited. It was expected that the market would close early and the price movement would be minimal. However, gold still broke strongly above 4200 before the close, reaching the 4220-4230 area before a strong finish. Nevertheless, the trading strategy for this week should not be to blindly chase the rally. The key focus now is on the short-term resistance zone of 4245-4260, which is the high point after gold rebounded from the strong support of 4000 on November 18th. It is also a key resistance level in this upward structure. From the 4-hour chart, this area shows very clear resistance. If the bulls cannot break through effectively in the short term, shorting at higher levels remains the preferred strategy. On the downside, the key support level to watch is the psychological level around 4200-4190. If it retraces and stabilizes without breaking through, it can be used as a reference area for short-term long positions. The overall strategy remains the same: if the resistance level holds, prioritize shorting at higher levels; if the support level holds, then look for pullbacks to go long. The trend is there, but timing is more important. Blindly chasing the rise is not a wise choice. Trading according to the structure and key points is the key to continuous stability. Continue to follow my rhythm this week. We make decisions with discipline, not let the market lead us.
OANDA:XAUUSDShort
by Daniel_PrimeFX
How high will gold go next week How much room is there to go up?Gold Technical Analysis: Gold has seen several highlights this week, breaking through the 4200 mark again, a figure that has caused considerable panic. Coupled with consecutive daily gains and high-level consolidation, this is the first sign of a strong upward move. The daily chart shows a reversal from a bearish to a bullish pattern, and if this pattern continues for two more days, forming a consecutive bullish formation, it will likely evolve into a second upward move. On Friday, gold experienced a relatively strong surge, falling to a low of around 4153 and rising to a high of around 4226. Currently, the bullish trend remains unchanged, and pullbacks present opportunities to enter long positions. The next key resistance level to watch is around 4245; if this level holds, a short position can be considered before going long. This week, the key resistance area for gold is around 4240-4250. If it can break through effectively, the price of gold is expected to further test the previous highs of 4300 and even 4380. On the downside, 4175-4160 has turned from resistance into the first strong support, and the more critical support is at the 4150 level, a trading zone between bulls and bears. From the 4-hour chart, the main support for the price is at 4200. As long as the market maintains its strong upward momentum, it will not retrace too deeply. Therefore, it is necessary to pay attention to the short-term bullish trend. On the hourly chart, the price rose from 4155, and after a retracement from 4170-4180, it rose to 4226. The bullish trend support is at 4155. As long as the price does not break 4155, it will continue to rise and move towards the 4240-4250 area. In summary, the recommended strategy for gold trading next Monday is to primarily buy on dips and secondarily sell on rallies. The key resistance level to watch in the short term is 4240-4250, while the key support level is 4180-4160. Please keep up with the pace of the market.
OANDA:XAUUSDLong
by Daniel_PrimeFX
Wait and see to avoid CME technology risks!Gold Technical Analysis: Since the beginning of this week, gold has been trending upwards in a volatile manner. After breaking through the high point of the 4110-4130 trading range, it formed a small, one-sided upward trend, currently approaching the 4200 level. The increase has not been significant, and the process has been tortuous, with continuous oscillating upward movement. Currently, supported by positive news, there is still room for short-term upward movement, but overall, the upside potential remains limited. Moreover, as mentioned before, this bullish move is likely to trap many investors. Therefore, a relatively conservative approach has been consistently advised. The extent of this upward movement is uncertain and depends entirely on the strength of the news. It may reach the previous high of 4245, or it may break through. However, even if it breaks through, it is still recommended that long positions exit rather than hold on. The area above 4200 is a risk zone for longs. Once the news direction changes, the decline will be faster than the rise; a rise may take two weeks, while a fall may only take three days. Looking at the overall performance of gold, after consolidating yesterday, it opened higher today. However, such a rapid rise should not be chased, especially as it approaches $4200, where the upside potential is limited and the risk outweighs the potential profit. The key resistance level to watch in the short term is $4200, a level we have consistently emphasized. If it breaks above $4200, short-term bulls should consider exiting their positions. Short-term support lies in the $4155-$4150 area. If this support is reached, short-term traders can continue to follow the trend, but if it rallies further, take profits quickly, as there is a possibility of stagnation or a pullback above $4200. Due to Thanksgiving in the US, trading markets closed early, resulting in limited market activity during the US session. The market is expected to oscillate between $4150 and $4190, and this oscillation is likely to continue. Recently, neither bulls nor bears have shown sustained momentum. Watch the $4190-$4200 resistance level above and the $4150 support level below, and be aware of the risks. Today is the last trading day of November. We should be cautious about the current rise, as there is a possibility of a large-scale sweeping fluctuation at the monthly closing price. Therefore, even if we are bullish now, we should be cautious and not chase the rise.
OANDA:XAUUSDShort
by Daniel_PrimeFX
How to grasp the convergence of the golden triangle pattern?Gold Price Trend Analysis: After rising on Monday, gold closed with a doji on Tuesday and continued its upward trend today, reaching a high of around 4173. Overall, the market remains relatively strong. On the larger timeframe, the weekly chart shows solid support at the MA10 level, while the daily chart shows a tendency to form a triangle pattern. The upper edge of this triangle, around 4170-4180, will likely provide short-term resistance. Furthermore, considering the Thanksgiving holiday in the US market later this week, market activity is expected to be low. Therefore, range-bound trading is currently a suitable strategy for gold, but it may not be ideal for trading. This special timeframe could easily trigger a high degree of market manipulation, leading to abnormal price fluctuations. Gold Technical Analysis: Looking at the 4-hour chart, the triangle consolidation pattern for gold remains unchanged. The downward trendline resistance is around 4170-4180. Only a decisive break above this trendline resistance will allow for further upward movement and a new round of opportunities. Otherwise, it will remain in a consolidation phase. On the 1-hour chart, gold is expected to continue its high-level consolidation today. The key support level to watch is the 5- and 10-day moving averages around 4110-4100. On the upside, the first resistance level to watch is 4170-4180. The possibility of testing 4200 depends on both technical and fundamental factors. Specifically, if gold holds above the moving averages throughout the second half of the week and provides further bullish fundamental catalysts, it might attempt to reach 4200 in the second half of the week. However, the uncertainty brought by the holiday season should be carefully considered in the second half of the week. In summary, today's gold trading strategy is to primarily sell on rallies and secondarily buy on dips. The key resistance level to watch in the short term is around 4170-4180, while the key support level is around 4110-4100. Traders must follow the trend, manage their positions and stop-loss orders carefully, strictly set stop-loss orders, and avoid holding losing positions.
OANDA:XAUUSDShort
by Daniel_PrimeFX
With perfect timing in trading, where will gold go next?Gold closed in a narrow range yesterday with light trading, consolidating within the 4160-4150 range, perfectly in line with our expectations. After opening today, gold broke through the trendline resistance, officially entering a bullish phase. The longer the consolidation, the higher the potential rise; the upward momentum is expected to be significant. If gold prices break through and stabilize above 4200 as anticipated, further upside potential will open up. Long positions can wait for a pullback before considering appropriate entry opportunities. From a 4-hour chart perspective, gold broke upwards after consolidating sideways around the middle Bollinger Band and trend line, indicating a clearly bullish structure. There is still momentum for further upward movement in the short term. The recommended strategy is to buy on dips, focusing on support around 4175-4160, and resistance at 4200 and 4245. It's important to note that today is the monthly closing day; while bullish, be wary of a potential technical pullback after the initial surge. Overall, the trend remains bullish. After a period of consolidation, today's price action broke through the previous secondary high resistance level, making the direction very clear. Following this trend, the focus for today should be on buying on dips.
OANDA:XAUUSDLong
by Daniel_PrimeFX
The gold short-selling strategy was executed flawlessly!Gold Technical Analysis: Due to Thanksgiving, the overall intraday volatility was not significant, mainly fluctuating within the 4140-4170 range, which was largely in line with my expectations. There was a slight dip in the Asian session, and I anticipated a drop to the 4130-3120 range, but it failed to break below 4140. With the US market closing early, the volatility is likely to be even smaller. Tonight, the overall strategy is still to treat it as a range-bound market. Before breaking 4175, the strategy is to sell on rallies, or simply observe, as the market movement is not significant and not very meaningful. From the 4-hour chart, the gold triangle consolidation pattern remains unchanged. The downward trendline resistance is at 4170-4175. Only a valid break above this trendline resistance can lead to further upward movement and a new round of opportunities. Otherwise, it remains a consolidation phase at the end of the consolidation. On the 1-hour chart, the price has started to slowly break below the short-term support zone and is now under pressure from the short-term moving averages. There may be some room for adjustment in the short term. Pay attention to the short-term adjustment and repair. Today, continue to focus on the resistance level of the upper trendline of the triangle, which is also the watershed between bulls and bears. If the resistance is effective, expect a pullback. In this case, we still need to continue to try to establish short positions. If there is a rebound to around 4170-4175, we can short. In summary, today's gold trading strategy is to primarily sell on rallies and secondarily buy on dips. The key resistance level to watch in the short term is 4170-4175, and the key support level is 4110-4100. Please follow the rhythm.
OANDA:XAUUSDShort
by Daniel_PrimeFX
The strategy of shorting gold was accurate.Today's bottoming strategy clearly indicated that gold should be shorted around the 4165-4180 resistance zone. From the opening to the afternoon, the market provided countless opportunities. We placed three short orders in the 4165-4180 area in our strategy, all of which were completed according to the rhythm, structure, and plan. The timing was perfect. Gold Technical Analysis: The gold market is exhibiting a volatile and fluctuating trend. From a daily chart perspective, the current gold price is showing a wide-range fluctuation pattern, ultimately closing with a doji candlestick. Gold traded in a volatile manner on Tuesday, ultimately closing with a doji candlestick on the daily chart. Looking at the technical pattern formed by connecting recent highs and lows, the current gold price is generally trading within a triangle consolidation range, and this range is gradually narrowing. In the short term, it is necessary to continue to monitor the consolidation rhythm and wait for the market to choose a clear direction. The key resistance level to watch is around 4170-4180, while the short-term support level is around 4140-4120. From a technical perspective, although the 5-day and 10-day moving averages have formed a golden cross, the short-term trend shows a divergence between the 5-day moving average moving upwards and the 10-day moving average moving downwards. This reflects the intense short-term battle between bulls and bears, and the possibility of continued price fluctuations. In intraday trading, the 4110-4100 area, where the 5-day moving average is currently located, should be the primary focus, as this level will serve as a crucial short-term support reference. Overall, today's gold trading strategy is recommended to primarily focus on selling on rallies and secondarily on buying on dips. The key resistance level to watch in the short term is 4170-4180, and the key support level is 4110-4100. Please stay tuned.
OANDA:XAUUSDShort
by Daniel_PrimeFX
Is this a short-selling opportunity?Gold continued its upward trend from the previous two days after opening yesterday, reaching a high of around 4173 before pulling back. This level is also the downtrend line we've highlighted in the past two days. Although there was some resistance and a pullback, it ultimately stopped at around 4136. In other words, the resistance at this level is only effective in the short term and needs further verification. The rebound from the bottom in the US session indirectly dealt a blow to the bears, but the follow-through was clearly insufficient. Therefore, whether the resistance at this level will be effective today needs further verification. If the price continues to face pressure at this level today, the downward momentum may persist. The rebound in the evening was followed by a slight pullback to around 4140 after the opening bell, followed by continued minor fluctuations. Yesterday's high in the US session will be the key level for today's bulls and bears. The pullback pattern is likely a tentative move, and the strength of the European session will directly influence the US session's trend. Considering the previously formed downward channel, the upper resistance may shift down to around 4165-4175. We can still short below this level. Although yesterday's pullback was under pressure, the subsequent breakout was somewhat disappointing. Therefore, we still need to tentatively establish short positions today. If the price first rallies to around 4160-4175, we can short, targeting 4140-4110. If the European session breaks above this level, we can adjust our positions and exit during the US session.
OANDA:XAUUSDShort
by Daniel_PrimeFX
Analysis of key technical levels and trading strategies for goldGold traded in a range-bound pattern during yesterday's European and American sessions, closing with a bearish doji candlestick on the daily chart. This indirectly indicates the continued struggle between bulls and bears in the short term. Without a sustained upward trend, the range-bound trading is likely a way to digest excess energy from both sides. After opening higher, it reached a high of around 4169. Continuing from yesterday, the downward channel formed by the previous historical high will likely shift slightly lower to around 4170-4180. This level is crucial for the future direction of the market. A break above this level could potentially push the price up to 4200. Conversely, if this level holds, it would suggest that the current rise is not driven by bulls but rather a prelude and correction by bears to prepare for a potential further decline. The current support level is around 4110-4100, and the intraday price action will be particularly important. If gold breaks through the resistance level today, the bullish momentum will continue. Conversely, the bearish correction may also come to an end. If gold rebounds to around 4165-4180 today, consider shorting with a target of around 4150-4130.
OANDA:XAUUSDShort
by Daniel_PrimeFX
Seeking high-probability trading opportunities in gold.Gold Price Trend Analysis: Looking at the 4-hour chart, gold is currently showing a trend of both higher highs and higher lows. However, using a Fibonacci retracement level, gold is facing resistance at the 0.618 Fibonacci retracement level, specifically around 4155, which triggered a decline. However, it found support at the 4110-4100 area, a previous support level, ultimately closing above 4110. Therefore, today we need to pay attention to the support levels at 4110 and the psychological level of 4100. Long positions can be considered. Looking at the MACD indicator, the fast and slow lines were previously converging, but diverged yesterday as expectations of a Fed rate cut increased. This divergence may continue during the US session today. We need to watch for a break above 4155; if it breaks, a move towards 4180-4200 is expected. The 1-hour moving averages continue to trend upwards, maintaining a bullish alignment. Reviewing the day's gold price movement, the overall trend remains upward, with a short-term pullback from the 4150-4160 area. It's important to note that gold has seen minimal pullbacks throughout its upward breakout. Even the pullback in the European session only tested the 4110 level before resuming its upward climb. The short-term upward trend remains intact. In the US session, consider buying on dips above 4100. The key resistance level is the same as on the 4-hour chart, at 4155. However, today's price action didn't see a pullback to 4100; instead, it fell to 4110 before rebounding. Therefore, it's highly likely that gold will surge upwards in the evening, breaking through 4155. The key level to watch then becomes 4180, which is the resistance of the previous trendline on the daily chart. In summary, today's gold trading strategy is to primarily buy on dips and secondarily sell on rallies. The key resistance level to watch in the short term is 4160-4180, while the key support level is 4110-4100. Please follow the recommendations carefully.
OANDA:XAUUSDLong
by Daniel_PrimeFX
4