XAUUSD continues to hold steady even in the face of strong economic news. A range between 2366 and 2330 is being established, with buyers and sellers vying for lower price levels. Today, the market awaits PMI and Initial Jobless Claims announcements. Yesterday, we saw CPI figures higher at 0.4% instead of the expected 0.3%, with inflation rates at 3.5%. This...
As observed on the four-hour chart, Gold price is on track to challenge the record high of $2,365, as it recaptures the 21-Simple Moving Average (SMA) at $2,342. The Relative Strength Index (RSI) is pointing north above the midline, near 59.00, indicating that there is a scope for further upside. The immediate resistance is seen at the $2,350 psychological level...
Gold is going for another Burst 2400 is on. This big triangle is broken and there is 45 to 50 dollar move expected. From 2354
Yesterday, the CPI report revealed higher-than-expected numbers, which triggered a selling spree on OANDA:XAUUSD , causing the price of gold to drop to 2319 after the release. However, this downturn was swiftly reversed, and the price hasn't reached the liquidity zone from above 2300 and also the second attempt from bears to push the price in that zone resulted...
The CPI data released today was beneficial to gold shorts. Gold fell sharply and then quickly rebounded to around 2350. The resistance in this range is still very obvious. At the same time, the 4h chart shape is not friendly to bulls. In the 30m chart, it is temporarily beneficial to bulls. The focus is still on observing the resistance in the 2346-2354 range....
Gold's rebound in the U.S. market yesterday seemed a bit strong, but soon began to weaken and come under pressure. Gold was directly short at 2179, but gold still fell. It harvested a wave first, and continued to be short after today's rebound. Gold's 1-hour moving average has also entered a dead cross short position, and after gold's 1-hour inverse V reversal,...
Gold price continued its upward trajectory, reaching a record high of $2,3545 in the Asian trading session on Monday. However, it later retreated below the $2,335 mark as market sentiment shifted, dampening the demand for gold. Before resuming its upward trend, gold price dipped to a low of $2,305, coinciding with the 20-day Simple Moving Average (SMA) touching....
A rise in XAU/USD can be identified by the increasing price, although it may not be immediately apparent at the current rate. - Technical indicators such as the Relative Strength Index (RSI) help signal prolonged overbought conditions. In such instances, observing the chart stuck in a bullish outlook alongside the moving average for a period could aid in...
With gold setting new record highs at $2,393/ounce in weekend trading, it's currently hovering around $2330-$2393 in early morning trading. Identifying a potential battleground between buying and selling pressure on the H4 timeframe of XAUUSD around the support level of $2300-$2393, there's a possibility of a downward correction if gold breaks below this range....
Based on the above analysis, it can be concluded that despite the current slight correction in gold prices, the long-term outlook remains positive. Inflationary pressures, Federal Reserve monetary policies, and other factors such as significant government debt all create favorable conditions for a bullish gold price environment. Gold continues to be an attractive...
1. Tenkan-Sen crosses Kijun-Sen from below to above, with the crossover point below the Kumo cloud. 2. Senkou-Span A crosses Senkou-Span B from below to above, causing a change in Kumo cloud color. 3. Chikou-Span is above the price line and the wider the gap, the better. If all these signals occur simultaneously, investors may execute a Buy order in favor of the...
The basic entry in the Sonic R. System is referred to as the "Classic" entry. Following the initial Classic entry, there are sometimes pullbacks that create opportunities for a "Probe" re-entry. At times, even before the Classic setup forms, price action alone suggests early Probe entry opportunities. Two examples of early Probe entry opportunities are: 1....
In Wednesday's US trading session, gold prices unexpectedly rebounded following previous volatility, possibly due to the increase in the US dollar and bond yields. This led to a reduction in expectations for the Federal Reserve to cut interest rates in the near future. On the 4-hour chart, the upward trend of gold remains clearly intact. The Simple Moving Average...
Gold prices continued their upward trend today, reaching around $2347 USD per ounce, with a 0.261% growth for the day, even as the USD index showed signs of cooling off. However, after several consecutive sessions of gains, gold prices are facing profit-taking pressure. Nevertheless, the precious metal is believed to still receive significant support due to three...
One technical indicator that can help identify potential reversal points for a trend is the Parabolic SAR (Stop And Reversal). The Parabolic SAR places dots on the chart to indicate potential reversal points. From the above figure, you can see the dots change from being below the candlesticks in an uptrend to being above the candlesticks when the trend reverses to...
Despite the release of better-than-expected US employment figures, the global gold market has seen a significant surge, reaching new record highs during weekend trading sessions. This marks the third consecutive week of gains for the precious metal. Recent developments, including the robustness of the economy and inflation data, prompted Federal Reserve Chairman...
Examining the chart, we observe a MACD crossover, indicating a short-term price increase. However, the downward trend of the RSI suggests weak buying pressure. The crossing of the SMA and EMA lines creates a strong resistance zone. Based on these factors, I predict a decline in gold prices.
Using the MACD method, it's evident that buying pressure in gold has weakened, with selling momentum increasing. The rising RSI indicates robust buying activity. Additionally, the recent Bollinger Band squeeze suggests impending volatility. Despite the price closely tracking the upper band, a retest towards the middle band seems likely.