World gold prices were relatively stable with spot gold down 5.3 USD to 2,023.5 USD/ounce. Gold futures last traded at 2,029.3 USD/ounce, down 3.7 USD compared to yesterday morning. World gold decreased slightly in the mid-week trading session as investors were waiting for US inflation data to gain more clarity on the US Federal Reserve's (Fed) interest rate...
Dear friends, gold is currently trading near the 2029 position. Although the current overall trend of gold is still biased towards the short trend, for the short term, gold has consumed too much short energy near the 2030 position, so the current downward trend of gold has If the trend slows down, then gold may continue to rebound upward with the support of the...
Gold is developing below its 20-day simple moving average (SMA), which is providing dynamic resistance around $2,040. Meanwhile, the gently rising 100-day SMA is crossing above the flat 200-day SMA, both situated around $1,960. Finally, technical indicators are mildly decreasing in neutral territory, not enough to confirm another leg down. The near-term picture...
Pair : XAUUSD ( Gold / U.S Dollar ) Description : Completed " 1234 " Impulsive Waves. Bearish Channel as an Corrective Pattern in Short Time Frame. It has completed the Break of Structure and Retracement. 2036 - 2042 is Acting as a Strong Resistance in Short Time Frame , Possible Entry After Rejection or Breakout
#XAUUSD Analysis – January 10, 2024 Hello everyone. Have a nice day! Today's trading session was very profitable 😊😊 Yesterday, GOLD rose significantly above 2040, but failed to break out of the 2042 range. Following frames like H4 and D1, the current candlestick and trend still clearly indicate that GOLD will continue to fall. Trading yesterday was quite slow....
World gold prices stabilized with spot gold increasing 1.3 USD to 2,028.8 USD/ounce. Gold futures last traded at 2,036 USD/ounce, up 2.5 USD compared to yesterday morning. The world gold market stabilized as investors remained cautious ahead of US inflation data to be released later this week. The data is expected to provide more detailed information about the...
Gold prices grapple to gather any significant upward momentum following the recent retreat from the $2,040 region, exhibiting narrow trading ranges during the Asian trading session on Wednesday. Traders appear somewhat reluctant, preferring to await the latest CPI figures set to be unveiled on Thursday before committing to new directions. XAU/USD trades around...
Next, focus on the resistance near 2049. If it cannot be broken through, the market will have a high probability of falling again. Of course, if special news happens, that's a different matter. From a technical perspective alone, after backtesting the support, there is a high probability of rebounding and rising. The 2049-2058 range may be touched again.
Pair : XAUUSD ( Gold / U.S Dollar ) Description : Bearish Channel as an Corrective Pattern in Short Time Frame and Rejection from Lower Trend Line and Daily Demand Zone. Completed " 12345 " Impulsive Waves and making its " A " Corrective Wave in a Corrective Pattern " Rising Wedge " in Short Time Frame
Despite the U.S. dollar's rebound post stronger-than-expected U.S. employment data, "XAU/USD" maintains an upward trajectory and could sustain it unless it declines below $2,000 or $1,985 per ounce. Consequently, escalating global political tensions and central banks' preventive buying to hedge risks will remain supportive factors for the gold market in the...
Gold price recovers some lost ground below the mid-$2,000s during the early Asian session on Tuesday. The possibility that the US Federal Reserve (Fed) might extend its restrictive stance for longer might exert some selling pressure on the yellow metal in the near term. The daily chart for OANDA:XAUUSD shows that the risk skews to the downside. The bright...
XAUUSD - DAILY PLAN 01/09: - Gold prices fell sharply today under pressure from rising Treasury yields as expectations of interest rate cuts by the US Federal Reserve (Fed) are fading and investors await inflation data. US inflation this week to provide more clarity on the future interest rate path. - A report released late last week showed the United States...
XAUUSD - DAILY PLAN 01/09: - Gold prices fell sharply today under pressure from rising Treasury yields as expectations of interest rate cuts by the US Federal Reserve (Fed) are fading and investors await inflation data. US inflation this week to provide more clarity on the future interest rate path. - A report released late last week showed the United States...
In the new week, I hope you all continue to make great profits! The current trend of gold is still biased towards the short side. On this basis, today's transaction can be short first and then long. The resistance will continue to focus on the vicinity of 2049-2058 and the support around 2023-2018.
Kindly remember, Elliott Wave is highly subjective, i will post if there's a new update on my perspective. Trade safe, Everyone! Cheers.
XAU-USD is going up but Will soon retest a strong Horizontal resistance of 2067 From where I will be expecting A local bearish correction!
World gold prices are still attractive when the world's second largest economy is still facing difficulties in economic recovery. Data on China's manufacturing PMI index in December decreased from 49.4 points in November to 49 points in December, lower than the forecast level of 49.5 points. This is the third consecutive month that China's manufacturing PMI index...
The daily XAU/USD chart shows a slight uptick as it finds buyers around the 20-day Simple Moving Average (SMA) for the second consecutive day, indicating a lack of clear directional strength. The convergence of SMA 100 and 200 around $1,950 without a distinct slope suggests a stagnant market. Technical indicators remain neutral, with the RSI moving sideways and...