Gold price retreated and closed at the $2,000 mark for the first time since November 24, extending its losses. This decline follows the latest US employment report, indicating an improving labor market. The US Bureau of Labor Statistics reported the creation of 199K jobs, exceeding forecasts, while the Unemployment Rate dropped to 3.7%. Additionally, University of...
XAU-USD went down but Has almost reached a support Level now at 1971.5 from where I will be expecting a rebound And a move up !
We were trading south of that $2000/oz price during recent trade, pulling as low as $1975/oz. Again, upside moves witnessed follow FED outlook, a lot of the pairs we follow and trade revolve around the USD and thus a soft USD means ***USD climb higher. Still focussed on that $2000/oz support price, the D1 trend is still valid and pointing to the upside,...
Dear Traders, Gold has shown extreme bearish momentum since last Tuesday, institutional buyers took the price all time high and dumped it. Price will continue the drop either from the current area or from 2020. Our target is 1930 region which will be 700 pips. show some love if you agree with the idea and good luck :)
On my Monday's OANDA:XAUUSD analysis I wrote than there is a high chance of a change of trend in Gold's price and this remain the case. After breaking under the ascending trend line and the important 2k figure, Gold has made a local low at 1973 and, in my opinion, more loses will come. Yesterday's spike up at 1996 offers resistance and rallies to that zone...
Gold markets are quiet ahead of the Fed's policy meeting on Wednesday. Traders expect the Fed to leave interest rates unchanged at the end of this policy meeting. The market is predicting about a 45% chance that the Fed will cut interest rates in March 2024. Gold speculators are hoping for a series of important economic data to be released soon. Important US...
Gold (XAUUSD) eventually delivered the expected rejection and pull-back after hitting the 0.786 Fibonacci level as we presented on our December 04 idea (see chart below): That Monday candle turned out to be a fake-out, liquidating countless of late buy positions at the top as well as stop losses on sells. If we ignore that non-technical candle wick, we can...
Reason For Bearish 1.Bearish Engulfing Formed 2.Breaked 2012 and waiting for retest 2012 3. Approaching Next Support @ 1980 Reason For Bullish 1.Obey Strong Support @ 1980 2. Obey Golden Ratio 0.631 Fibonacci retracement Overall Possible Outcomes XAUUSD SELL@ 2010-15 SL 2022 TP1 1980 XAUUSD BUY @ 1980 SL 1960 TP1 2000 TP 2 2020
OANDA:XAUUSD traded within a 200-pip range throughout yesterday, establishing a distinct support at 2020 and a ceiling around the 2040 zone. The jobless claims failed to provide a clear directional cue. Following an initial dip to the support level, Gold swiftly rebounded, settling around the familiar 2030 mark. Maintaining the stance shared earlier this week,...
Gold (XAUUSD) is trading exactly at the bottom of the 2-month Channel Up, restrained below the 4H MA50 (blue trend-line), which ahead of today's Nonfarm Payrolls (NFP) report is getting increasing dangerous. Technically, as long as the Channel Up holds, the current level is the most optimal buy opportunity for another +11.00% bullish sequence (as the previous two...
Global gold prices rose slightly this morning, with spot gold prices up $2.4 to $2,028 per ounce. Gold futures traded at $2,045.3 per ounce, up $1.6 from the previous day. Global gold markets were slightly volatile as investors awaited the release of key US jobs data on Friday (US time). This data is intended to help determine U.S. Federal Reserve (Fed)...
In my yesterday OANDA:XAUUSD analysis I wrote that the situation for the medium term remains unclear, and this remains the fact so far. However, there are some good signs for bulls: First of all, after touching 2010 confluence support, the price reversed quickly to 2040 zone resistance. Second, yesterday Gold has made a higher low in the 2020 zone. Considering...
In yesterday's OANDA:XAUUSD analysis I wrote that after the crazy Monday's price action with a new ATH followed by 3 support breaks, Gold could continue down and test 2010 next technical support. Indeed, the price dropped and touched that level and a reversal followed. Although this is a positive sign for bulls, confirmation is needed, and, after the strong...
Here is my latest structure analysis for Gold. Horizontal Key Levels Resistance 1: 2142 - 2150 area Support 1: 1998 - 2009 area Support 2: 1963 - 1977 area Support 3: 1930 - 1938 area Vertical Key Levels Rising trend line - daily candle close below that will turn that trend line into a vertical resistance. My focus is on a trend line at the moment. We...
Yesterday was a crazy day for Gold traders with a 1300 pips volatility counted from top to bottom. After an initial Asian open with a new ATH and a spike of 800 pips from Friday's bottom, XauUsd started to drop aggressively, but more importantly, broke under 3 important levels that should have provided support: 2070, 2050, and 2030. The overall trend remains...
The Japanese Yen (JPY) edges lower against its American counterpart during the Asian session on Tuesday after data showed that consumer inflation in Tokyo – Japan's capital city – eased more than expected in November. In fact, Tokyo's core CPI, which excludes volatile items such as fresh food, was the closest to the Bank of Japan's (BoJ) 2% annual target since...
Gold edges lower to $2,030 during the early Asian session on Tuesday. Meanwhile, the US Dollar Index rose to 103.60 and the Treasury yields edge higher, with the 10-year yield recovering from 4.24% to 4.32%. OANDA:XAUUSD price is trading around $2,030, up 0.12% on the day. OANDA:XAUUSD price sharply fell, dropping more than a hundred dollars from all-time...
Gold (XAUUSD) has made a new All Time High (ATH) today early during the Asian session opening amidst the attacks in the Red Sea, peaking just below 2150 before being sold-off on each passing hour. Regardless of the pull-back, this managed to make a new ATH after almost 3.5 years. There is technical evidence however showing that if the current weekly (1W) candle...