Pair : XAUUSD ( Gold / U.S Dollar ) Description : Bullish Channel as an Corrective Pattern in Long Time Frame with the Breakout of Lower Trend Line and Rising Wedge in Short Time Frame with the Breakout of Lower Trend Line and Retracement. Completed " 132 " Impulsive Waves in Short Time Frame. We have BOS and Divergence
Amidst anticipation surrounding potential Federal Reserve (Fed) rate cuts in 2024, the outlook for gold prices remains optimistic. Daniel Pavilonis, a market analyst at RJO Futures, highlighted the escalating tensions in the Red Sea as a factor likely to support gold prices. Notably, gold prices surged by 13% in 2023, marking the first annual increase since 2020,...
Gold's recent movements against the yearly average hinted at a promising trend above the critical resistance level of 2075/81. Despite breaching this mark in December, hitting highs at 2146, it couldn't sustain weekly or daily closures there, suggesting potential exhaustion. Key support lies at 1935/50, marked by various indicators like Fibonacci retracements,...
Technical Analysis: Gold might encounter strong resistance near the $2,078 region. Overnight failure near the all-time high closing levels around $2,077-2,078 raises caution among upward trend traders. Breaking this barrier decisively could pave the way for a push towards the psychological $2,100 mark. Daily chart oscillators remain comfortably positive, hinting...
OANDA:XAUUSD in our last analysis on gold we had anticipated price to drop from 2065-70 region and price have rejected and from next week we can see a significant drop in price as we will having NFP next week. DXY can rebound strongly and remain bullish throughout the month of January. happy new year 2024!
Gold starts the new year with a positive signal, supported by a weaker US dollar and positive developments around China's economic stimulus measures. XAU/USD trades around $2,065, up 0.19% on the day. Expectations are for gold to remain stable and potentially continue its upward trend, although surpassing $2,100 will require convincing momentum. Price corrections...
My Gold forecast for this week anticipates a temporary bearish move to clear the liquidity below. With the bullish pressure fading and a shift in character to the downside, there are indications of a brief bearish phase. Given the substantial liquidity below, I expect a descent towards 2032, where a 19hr demand zone is located. Currently, my strategy involves...
Gold soared to $2,080 but reversed, dipping near $2,060 due to the rise in US Treasury bond yields. Investors are cautious ahead of year-end flows, limiting big bets on XAU/USD. The price may stabilize as the new year nears, remaining elevated. Closing below the ascending trendline at $2,084, buyers approach with caution, yet the rising 14-day Relative Strength...
Hello everyone, in just 1-2 days 2023 will end, the annual candle will close, last year the candle closed at 1823 USD and reached a peak of 2,146 USD, and at the time I write The candlestick reached the level 2070. Let me know what you think about where gold will close tomorrow, and give your verdict on gold in 2024! Best regards, AdmamTrade
After peaking at $2,080, gold swiftly reversed, dropping to around $2,060, pressured by resurging US Treasury bond yields. Investors are cautious, refraining from major bets on XAU/USD amidst year-end flows. Maintaining a relatively higher level, gold might consolidate into the new year. Closing below the upward trendline at $2,084, potential buyers exercise...
Gold prices dipped below the Thursday trading range of $2,064-$2,088 as thin trading volumes characterized the market with limited participant activity due to the holiday week. The precious metal witnessed some profit-taking on Thursday. On a broader note, the upward-sloping 20-day and 50-day Exponential Moving Averages (EMA) indicate positive momentum, and...
Pair : XAUUSD ( Gold / U.S Dollar ) Description : Completed " 12345 " Impulsive Waves and " ABC " Corrective Waves. Bullish Channel as an Corrective Pattern in Long Time Frame and Rising Wedge in Short Time Frame with the Breakout of the Lower Trend Line and Retracement
From a short-term technical perspective, gold remains in contact with an upward trend amid favorable price indicators. While gold has broken above the resistance level of the upward trend line at $2,080, a daily close beyond this mark is crucial to extend the upward trend to an all-time high of $2,144. Gold buyers face formidable resistance levels at $2,100 and...
Gold prices on Comex are nearing a three-week high at $2,089 USD, propelled by a surprising drop in the US core PCE price index to 3.2%. This unexpected shift has increased bets on an early Fed interest rate cut, with over 75% probability priced in by March, according to CME Fedwatch. The decline in inflation provides a favorable starting point for the Fed in...
Dear traders, As expected we are seeing some strange move within the market due to the low volume, based on our last chart price did fall but failed to continue the selling momentum and idea hit breakeven. In here, there are two possibilities that price can go first from sellers bias we think price still can drop from 2040$ area which will remain crucial,...
Dear Traders, XAUUSD we are still eying $2090 region and price have shown some strong bullish momentum and hence why a entry now can be a good opportunity. What do you think?
Following a record close at $2,070, gold is pushing towards $2,100 in the Asian trading session. The dovish Fed stance and strong US bond auctions are impacting Treasury yields and the US dollar. The 14-day RSI provides support, but a recent dip suggests a potential pullback to the 21-day SMA at $2,032, with $2,050 acting as a key level. To sustain the upward...
The 14-day Relative Strength Index (RSI) continues to hold above the midpoint, providing potential support for further price increases. However, the latest downturn in the RSI suggests that the downward momentum in gold prices may extend towards the 21-day Simple Moving Average (SMA) at $2,032. Prior to that, the $2,050 level will pose a challenge to bullish...