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.
First of all, let's pay attention to EMA. If you need a moving average that can quickly react to price movements, then a short-term EMA would be most suitable. It can help you catch trends quickly and generate high profits. The truth is, the quicker you catch a trend, the longer you can ride it and the more profit you can make. However, the drawback of EMA is that...
Using Elliott Wave Theory and Fibonacci, I observe that the gold price is currently in wave 4. Rule 3 states: Wave 4 should never enter the territory of wave 1. Additionally, there are guidelines to help count waves more accurately. Unlike the three rules above, these guidelines may be violated. They are: - Conversely, sometimes wave 5 cannot extend beyond the...
"Wave 1: The gold market experiences its initial uptick. This is driven by a small group of individuals who, for some reason, perceive gold prices as cheap and see this as a good buying opportunity. This drives prices up. Wave 2: At this point, some early buyers feel that gold has become overvalued and begin to take profits, causing prices to decline. However,...
Gold Forecast: Short-Term Dip Expected, Long-Term Outlook Remains Bullish" Gold prices are poised to reach 2331, although a temporary decline is anticipated. Despite this, the long-term perspective remains optimistic, with projections indicating a correction around 2280 before ascending towards 2553. Investors are advised to consider buying during these declines...
You can see waves 1, 3, and 5 formed from smaller impulsive 5-wave patterns, while waves 2 and 4 are formed from smaller corrective 3-wave patterns. Always remember that each wave is formed from smaller wave patterns. This model repeats itself indefinitely. On the daily chart, I see wave 4 forming. The RSI is rising high, indicating strong buying pressure. Using...
⭐️ Smart investment, Strong finance ⭐️ GOLDEN INFORMATION: Gold prices pulled back from all-time highs on Tuesday, dropping to $2,346 after reaching $2,365. This was due to a risk-on sentiment and declining US Treasury yields. The US economic calendar was light, with the NFIB Small Optimism Index falling for the third consecutive month. Traders are now awaiting...
The United States CPI data will be released soon, and it is still the support level to continue to do more. On Tuesday, the gold technical surface rose first and then fell, the Asia-Europe price stabilized 2338 mark ushered in a bull shock up the high, the afternoon further accelerated to break the previous day's high 2353 mark and continued to strengthen to 2365...
Gold has been on a tear in 2024 fueled by a confluence of global uncertainties, the precious metal has seen its price surge nearly 20% since mid-February, reaching a series of all-time highs.expand_more But according to macro fund managers interviewed by Bloomberg, this rally might just be getting started. The Allure of Gold: A Safe Haven in Tumultuous...
I'm sharing with you again one of my trades for this week, You can buy XAUUSD when it reaches 2308.954, SL and TP set them as in the chart. The market will come down to liquidate at 2318.780 to get to our OB before continuing its way up. For further info, don't hesitate to ask!
If you entered short from the 2nd wave leg.. you should have realized TP1 at 2330. A decisive break above 2300 would pave way for 2400 A decisive break below 2331 would pave way for 2305 support level... Stay tuned and observe the market with me
Amid the unstable geopolitical situation, gold has been an emergency haven. On Monday and Tuesday, it maintained its rising pace last week and continued to reach new highs. Moreover, under the encouragement of central bank buying, it is difficult to change the temporary strength. Therefore, the trend of gold is relatively obvious, which is bullish. On Wednesday...
The price of gold has slightly declined below $2,355 during Wednesday's Asian trading session, following its recent record high of $2,366 on Tuesday. However, when looking at technical indicators such as the Bollinger Bands and the Relative Strength Index (RSI), it is evident that the market is still in an uptrend with no signs of a downturn. Observing the...