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Gold (XAU/USD) 3H Technical AnalysisCurrent Price: $4,091.70 Trend: Short-term bullish continuation Chart Structure: Breakout from descending channel 🔍 Chart Insights Descending Channel Breakout: Gold has clearly broken above the yellow descending channel, confirming a bullish breakout from the previous downtrend. Support Level Zone (Purple Area): Support Range: $4,000 – $4,050 This zone was a strong resistance earlier and has now flipped into support after the breakout. Price is expected to retest this area before continuing higher. Bullish Structure & Retest Pattern: The yellow zigzag line indicates a likely scenario where price may pull back slightly to the support zone before continuing the upward move toward the next resistance levels. Target Levels (Resistance zones): First Target: $4,120 – $4,160 Second Target: $4,200 Main Target (Highlighted): $4,381 This aligns with Fibonacci extension and prior structural highs. 📈 Bullish Scenario If price holds above $4,050, the uptrend remains intact. Momentum could push gold toward $4,200 → $4,380 in the next sessions. Ideal entry area: near $4,050 – $4,070 (on successful retest). 📉 Bearish Scenario A confirmed break below $4,000 would invalidate the bullish structure. Downside targets: $3,940 → $3,880. ⚙️ Summary Bias Entry Zone Support Resistance Target Bullish $4,050–$4,070 $4,000 $4,200 / $4,380 $4,381 TFEX:GO1! TFEX:GD1! TFEX:GF1! TFEX:AEONTS1! TFEX:BANK1! TFEX:EURUSD1! TFEX:USD1! TFEX:USDJPY1! TFEX:S501! GPW:FW201! GPW:FPCO1! GPW:FPKN1! GPW:FW401! GPW:FUSD1!
OANDA:XAUUSDLong
by MR_NARCOS_ANALYSIS
Ending US G. shutdown could bring GOLD to daily support?US government shutdown has slowed longer term trend on XAUUSD with 2 weeks of bearish move finally formed an weekly inside bar which is the lowest volatity in the last 12 weeks! however, as there is bearish rejection, with potential ending of shut down could lead GOLD to drop again to the daily support to 3885.00 or lower? as 3 weeks price action is showing a continued bearish move, any break from the weekly high, price may bring the price back below the weekly low which potentailly create a lowertimeframe bearish trend. Therefore, weekly high is to watch for possible rejection, once price rejects, once down trend coinfirms, we will be looking for sell set up to daily support level.
FX:XAUUSDShort
by ForexWizard01
Gold Market Forecast and Analysis for Next WeekThis week, the gold market experienced a dramatic rollercoaster ride. Gold opened lower at $3999, then quickly rallied, with prices steadily rising to fill the gap. The upward momentum continued, reaching a high of $4245 towards the end of the week, seemingly unstoppable. However, the lifting of the US government shutdown crisis significantly weakened safe-haven buying, coupled with hawkish comments from several Federal Reserve officials. This double whammy triggered a concentrated sell-off, causing gold prices to plummet from their highs on Friday, hitting a low of $4032. Since we provided accurate analysis and profited during the Asian and European sessions, we did not trade during the US session, successfully avoiding this market-driven volatility. Otherwise, we would have inevitably bought on the dip, resulting in losses. From a technical perspective, the 1-hour moving average for gold is still turning downwards. If the 1-hour moving average forms a death cross and a bearish alignment, then the downside potential for gold will further open up. Gold has also formed a head and shoulders pattern on the 1-hour chart. If gold cannot hold above 4150 next week, then any rebound on the 1-hour chart will only form the right shoulder of the head and shoulders pattern. Therefore, next week's rebound will likely face resistance at 4150, presenting an opportunity to sell on rallies. I believe that after Friday's sharp drop, gold will likely rebound and correct on Monday, making the 4150 area a key resistance level to watch in the short term. Recently, inappropriate remarks by the Japanese Prime Minister regarding the Taiwan Strait have strained relations between China and Japan. As the situation escalates, this will inevitably lead to increased geopolitical conflict. As a safe-haven asset, gold, after Friday's sharp drop, will likely rebound to a relatively high level. Therefore, I believe there is a very high probability of a significant rise next week, potentially breaking above $4200 again. In summary, the short-term trading strategy for gold next week is clear: buy without hesitation after the market opens, with buy orders at 4080-4100, top-up orders at 4130-4150, and long-term orders at 4050-4060. The long-term strategy is: buy orders at 4080-4100, top-up orders at 4250; these can be held until the end of the month. I share accurate gold market analysis daily, but the advice here has a certain time lag. If you agree with my analytical approach, you need to find a method to adapt.
OANDA:XAUUSDLong
by Thomas-Fudel
LiamTrading – XAUUSD M45 | Fibonacci Perspective on the ...LiamTrading – XAUUSD M45 | Fibonacci Perspective on the Uptrend: watch for a sell at 2.618 @ 4229–4231, wait to buy at FVG 4174–4172 Quick Context: News about the U.S. government reopening eases tensions, but gold prices in the Asian session this morning only rose slightly before moving sideways – accumulating. On M45, the triangle has broken upwards but the buying momentum hasn't truly exploded; the market might retest the Fair Value Gaps (FVG) before choosing the next direction. Technical Analysis Trendline & M45 Structure: The uptrend after the breakout is running along a short-term rising trendline; the old triangle top becomes resistance near 4215. Fibonacci Extension: 2.272 ≈ 4215: pivot point; staying above this level opens the path to higher levels. 2.618 ≈ 4229–4231: extended resistance – an area prone to rejection/short-term reversal. FVG & Liquidity Zones: FVG #1: 4195–4198 – likely to fill before continuing upward. Liquidity: 4184–4188 – volume attraction zone between FVG and trendline. Fibo 0.618 + FVG: 4172–4174 – strong confluence for a buy-back scenario following the trend. Invalidation Level: breaking 4166 weakens the M45 uptrend structure, risking a pullback to lower zones. Trading Scenarios Scenario 1 – Trend-following Buy (priority) Entry: 4172–4174 (Fibo 0.618 + FVG) SL: 4166 TP: 4190 → 4215 → 4240 → 4280 Note: Prioritize if a clear rejection/long lower wick candle appears at 417x. Scenario 2 – Counter-trend Sell Scalp at Extended Resistance Entry: 4229–4231 (Fibo 2.618) SL: 4236 (above the nearest peak) TP: 4215 → 4196 → 4186 → 4175 Note: Quick trade; abandon if M45 closes strongly above 4231–4233. Scenario 3 – Buy on Break & Hold of 4215 Condition: M45 closes above 4215, retest holds 4212–4216 Entry: 4216–4218 SL: 4207 TP: 4229–4231 → 4260 → 4285–4300 Which price zone do you find noteworthy today? Comment below & hit Follow on LiamTrading for the latest updates.
OANDA:XAUUSDLong
by LiamTradingFX
Gold Price Forecast | Smart Money Levels (Nov 12, 2025)OANDA:XAUUSD GOLD ANALYSIS - What’s Moving the Market Today?
(Updated: November 12, 2025) 💠 Trade with DECRYPTERS
We keep it simple - Smart Money zones define the battlefield. Follow institutional footprints, not noise. 🔮 ASTROLOGY INSIGHT Mercury ♂ Mars = Mixed → Bearish if risk-on
Expect volatility and fake-outs near resistance as sentiment stays uncertain. 📊 MARKET OVERVIEW Gold trades around $4,135-$4,145, showing resilience despite U.S. dollar swings. * DXY slips to ~99.35 amid shutdown uncertainty and weaker risk tone. * Fed holds rates steady at 3.75–4.00%; next cut odds at 55% for December. * Central banks continue strong buying (+220t in Q3, led by Poland’s +67t). * ETF inflows remain firm at +222t - investor demand steady. * Geopolitical tensions (Mideast + US–China tariffs) sustain safe-haven flows. Gold remains locked between institutional buy/sell blocks, Smart Money setting up heavy positions from 4,028–4,206. 🧭 SMART MONEY LEVELS (LIVE UPDATE) Smart Money Sell Area: 4206–4191 → Major liquidity zone; rejection likely.
Sell Reaction Zone: 4165–4153 → Intraday resistance, ideal for quick fades.
Smart Money Buy Area: 4028–4011 → Deep liquidity accumulation zone for swing buys. 📍 Millions in pending institutional orders rest within these zones. 📅 WHAT TO WATCH NEXT * Nov 13 CPI: Expect ~3.0% core, shutdown delays may trigger volatility. * Dec FOMC: 55% odds of a 25bps cut; Fed cautious until full data returns. * Geopolitical Risk: Mideast or tariff escalation = 🟢 bullish spike.
Resolution = 🔴 USD rebound → gold pressure. Break Zones:
🔸 Hold above 4,120 → targets 4,165–4,170
🔸 Break below 4,100 → slide toward 4,050–4,028 🎯 TRADE PLAN Stay tactical — trade zones, not emotions. * Buy Dips: 4,090–4,120 → Targets 4,150–4,170 * Sell Rallies: 4,165–4,190 → Stops above 4,206 Bias remains bullish while above 4,120; short-term sentiment may turn mildly bearish if risk appetite improves. 🧠 CONCLUSION Gold remains supported by central bank demand and geopolitical risk, even as Fed policy and DXY limit major upside.
Expect range-bound volatility with bullish lean above 4,100.
Trade reaction, not prediction.
OANDA:XAUUSD
by DECRYPTERS
Gold 1H – Pullback Expected as USD Softens After Jobless Claims🟡 XAUUSD – Intraday Trading Plan | by Ryan_TitanTrader 📈 Market Context Gold is trading within a corrective structure today as the U.S. dollar weakens slightly following higher-than-expected Jobless Claims. Market sentiment remains mixed ahead of upcoming Fed speeches, which could provide clues about December policy expectations. • A more hawkish tone could trigger a deeper downside move toward unfilled discount zones. • Conversely, any dovish signals may push gold into a short-term liquidity grab before resuming its corrective trend. Liquidity remains concentrated near the $4,030 area, where price may tap into resting buy-side liquidity before forming the next bearish leg. 🔎 Technical Analysis (1H / SMC Style) • Structure: Current bias shows corrective bearish intent following recent ChoCH → BOS sequence on H1. • Premium Zone: The 4030–4028 region aligns with an unmitigated H1 supply — ideal for continuation shorts. • Liquidity Sweep: Price may reach 4030 to sweep early breakout buyers before confirming downside continuation. • Discount Zone: Strong demand sits at 3932–3934, overlapping with previous bullish displacement and unmitigated demand. 🔴 Sell Setup • Entry: 4030 – 4028 • Stop-Loss: 4040 • Take-Profit Targets: → 3980 → 3964 → 3934 (major demand zone) 🟢 Buy Setup (Countertrend Reaction) • Entry: 3932 – 3934 • Stop-Loss: 3925 • Take-Profit Targets: → 3964→ 3995 → 4020 (Only valid if liquidity sweep and bullish reaction occur at the demand zone) ⚠️ Risk Management Notes • Wait for M15 BOS/ChoCH confirmation at both zones to avoid premature entries. • Avoid trading directly at the minor support around 3964 — it is not a valid SMC entry zone. • Prioritize the sell setup; intraday bias remains corrective-bearish within a broader range. • Secure partial profits at the first liquidity target and trail stops according to structure. ✅ Summary Gold is likely to seek premium liquidity near 4030 before resuming its corrective move lower. The 4030–4028 supply area offers a clean continuation-short entry, while 3932–3934 remains the strongest discount zone for reactive long setups. Stay adaptable — the market maintains a mild bearish tone while waiting for further Fed guidance. FOLLOW RYAN_TITANTRADER for daily SMC setups ⚡
OANDA:XAUUSDShort
by Ryan_TitanTrader
13
Gold is expected to continue its decline next week! On Friday, gold prices retreated from a three-week high, and a strange phenomenon occurred: the US dollar index and gold fell together. Recent strange occurrences include the end of the US government shutdown triggering a retreat in safe-haven demand, directly weakening some of gold's safe-haven appeal, yet gold continued to rise instead of falling. Then, the decline in the US dollar index, which should have supported gold prices, resulted in both gold and the dollar falling on Friday. While the reopening of the US government provided a short-term boost to market sentiment, the temporary funding agreement failed to resolve the fundamental issues. The bill only extends the federal government's operations until January 30, 2026, with some departments receiving funding until September 30, 2026. The risk of a government shutdown remains for the next few weeks, keeping market sentiment fragile and hindering a sustained recovery in risk appetite. Spot gold faced significant selling pressure. It fell as low as $4032 during the session, closing around $4085, a daily drop of approximately 2.07%, erasing most of the week's gains after retreating from Thursday's three-week high of $4245. Gold prices retreated from a three-week high as momentum waned. The dollar stabilized after Federal Reserve officials signaled caution regarding further monetary easing. Technically, a sustained break below $4,050 could trigger a pullback towards the $4,000 level. According to the CME FedWatch Tool, the market is currently pricing in a 49% probability of a December rate cut, a significant drop from 94% a month ago. Traders will be watching for speeches from Federal Reserve officials later today, which could further influence interest rate expectations. The U.S. Bureau of Labor Statistics announced a revised timeline Friday afternoon. The agency also stated that a September jobs report will be released on November 21 (next Friday). The Census Bureau said it will release its delayed September construction spending, inventory, and international trade data early next week. The Bureau of Economic Analysis has not yet indicated when it will release its preliminary third-quarter GDP figures. Other government reports showing September retail sales, wholesale prices, and trade data are likely to be released relatively quickly, as statistical agencies had already collected most of this information before the government shutdown and only need to process it. The positive impact of the end of the US government shutdown has diminished some of gold's safe-haven appeal. Meanwhile, a series of cautious comments from Federal Reserve officials prompted traders to lower their expectations for a December rate cut. The cooling prospect of short-term easing has pushed the dollar higher after its recent weakness, putting additional pressure on the non-yielding metal. Traders are currently awaiting delayed US economic data to gain a clearer picture of the Fed's monetary policy outlook. At the same time, renewed concerns about overvaluation in the artificial intelligence sector have weighed on global stock markets and dampened risk appetite, which could limit gold's downside as it moves towards a weekly rally. Gold Weekly Analysis: Gold experienced significant volatility this week. It surged in the first half of the week, but then nearly returned to its starting point in the last two days due to news events. Gold tested the 4245 level at the end of the week, and the end of the US government shutdown and hawkish comments from Federal Reserve officials led to a sharp correction, reaching a low of around 4032 before rebounding and consolidating. From a daily chart perspective, gold closed lower this week, with a nearly $180 swing on Friday, indicating significant downward pressure and a easing of bullish sentiment. However, I believe the bulls haven't completely lost control, and this could be seen as a short-term correction driven by fundamental factors. The key support level to watch is around 4000; if this level holds, the market may continue to consolidate. A decisive break below this level would target 3930 and the previous low of 3886. If we consider a 1:1 ratio on the daily chart, the downside target is around 3756. Without significant negative news, I believe the short-term outlook is somewhat challenging. However, if the price retests the support around 3885, bullish sentiment could vanish, and the overall trend will likely shift towards a correction. Therefore, the key levels to watch are 4000 and 3885. Holding these levels would open up further upside potential; otherwise, the bullish momentum may temporarily end. From a daily chart perspective, yesterday's Asian session saw a strong rally to around 4211 before retreating. Influenced by selling after the shutdown, the US session saw a sharp drop to around 4032, a decline of approximately $180, resulting in a bearish close for the day. Based on the current trend, Monday should be viewed as bearish. Daily resistance is around 4155; if there's a rebound next week, this would be an ideal entry point for shorting. However, the overnight high was around 4111, so any downward movement will likely occur below this level. 1-hour resistance is around 4110; if this level holds on Monday, shorting is a viable strategy. The initial downside target is around 4065-4055, with a further target of 4032-4000 if it breaks below. Consider going long if the 4000 level holds, and if it breaks below, look for opportunities to go short on rallies. In summary, today's short-term trading strategy for gold is primarily to sell on rallies, with buying on dips as a secondary approach. Key resistance levels to watch are 4097-4100, and key support levels are 4030-4000. Traders must follow the trend closely. Manage your position size and stop-loss orders carefully, strictly adhere to stop-loss orders, and never hold losing positions.
OANDA:XAUUSDShort
by VivianSandro
Gold: Bulls Still in Control Despite Volatility🏆 Gold: Bulls Still in Control Despite Volatility From our previous analysis, Gold moved down to 3928, where buyers quickly stepped in to defend the level, preventing a deeper decline. Bullish momentum is rising again, showing that buyers are not yet ready to give up control. However, we should keep in mind that yesterday’s deeper correction didn’t happen for any reason — if a larger bearish wave begins, it could come unexpectedly for no reason again. For now, the bullish structure remains intact, and I’ll stay on the bullish side as long as price action respects the current setup. Let’s see how gold unfolds 🎯 Key Targets: 4025 – 4135 – 4230 You may find more details in the chart! Thank you and Good Luck! ❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
FX:XAUUSDLong
by KlejdiCuni
15
ElDoradoFx – GOLD ANALYSIS (10/11/2025, ASIA SESSION)1. Market Overview Gold opens the Asian session consolidating near $4,000–$4,003, after the US session’s liquidity sweeps on both sides of the range. Price remains trapped between $3,985 support and $4,016 resistance, showing a symmetrical compression pattern. The market sentiment is currently neutral, awaiting a breakout from this coil — which will likely set the tone for the London continuation. ⸻ 2. Technical Breakdown 🔹 Daily (D1): Price is stabilizing above the 50EMA with RSI around 51 — neutral but slightly leaning bullish. A daily close above $4,016 would reestablish bullish continuation toward $4,036–$4,050, while a drop below $3,975 could shift momentum back to bearish. 🔹 H1: Gold is respecting the descending trendline from $4,027, while creating a higher-low structure from $3,985. The 200EMA near $4,006–$4,010 acts as key intraday resistance, currently rejecting buyers. EMAs are converging, signaling volatility buildup before expansion. 🔹 15M–5M: Short-term CHoCH confirmed after liquidity sweep at $3,985, but momentum faded below $4,010. RSI sits around 48–50 and MACD shows flattening histogram — both suggesting indecision ahead of the Asian liquidity phase. ⸻ 3. Fibonacci Analysis (Last Swing 3,984 → 4,027) • 38.2% = $4,011 • 50.0% = $4,006 • 61.8% = $4,001 🎯 Golden Zone: $4,011 – $4,001 (Potential buy reaction area on retest) ⸻ 4. High-Probability Trade Scenarios 📈 BUY SCENARIO (Primary Bias) • Entry Zone: $4,006 – $4,001 (Golden Zone)** • Targets: $4,016 → $4,027 → $4,036 • Stop Loss: Below $3,992 • Confirmation: Bullish engulfing candle or CHoCH on 5M from Golden Zone. • Confluence: Support trendline + 61.8% Fib + EMA cluster + RSI recovery from 40–45. 📉 SELL SCENARIO (Countertrend) • Entry Zone: $4,010 – $4,016 (Supply + 200EMA + trendline resistance)** • Targets: $4,000 → $3,990 → $3,975 • Stop Loss: Above $4,020 • Confirmation: Bearish rejection candle with RSI divergence (60–65 range). • Confluence: Strong horizontal supply + descending resistance + MACD bearish cross. 💥 BREAKOUT SETUP • Bullish Break: Close above $4,016 → Retest $4,010 → Targets $4,027 → $4,036 → $4,050. • Bearish Break: Close below $3,985 → Retest $3,990 → Targets $3,976 → $3,960. ⸻ 5. Fundamental Watch • Asia session: Low volatility expected before London liquidity expansion. • DXY near 106.0 — holding steady, which could limit upside momentum until London. • No major macro data during Asia; technical levels will dominate. ⸻ 6. Key Technical Levels Resistance: 4,010 / 4,016 / 4,027 / 4,036 Support: 4,001 / 3,992 / 3,985 / 3,975 Golden Zone: 4,011 – 4,001 Breakout Triggers: >4,016 (Bullish) | <3,985 (Bearish) ⸻ 7. Analyst Summary Gold continues to accumulate liquidity within a symmetrical range, trapped between 200EMA resistance and ascending support. A breakout above $4,016 could trigger bullish continuation toward $4,036–$4,050, while a rejection here would likely send price back to $3,992–$3,975 before a new leg forms. ⸻ 8. Final Bias Summary 📊 Bias: Neutral-to-bullish above $3,985; bearish only below $3,975. 🎯 Focus: Monitor reaction at $4,006–$4,010 (EMA cluster) and watch for breakout confirmation beyond $4,016. ━━━━━━━━━━━━━━━ 🥇 GOLD – ElDoradoFx PREMIUM 3.0 – WEEKLY PERFORMANCE (03/11/2025 TO 07/11/2025) 🔥 Massive week for PREMIUM 3.0 — consistent GOLD setups, BTC profits, and double LIVE session wins! ━━━━━━━━━━━━━━━ 📅 MONDAY 03/11/2025 🟢 BUY +120 PIPS 🟢 BUY +30 PIPS 🔻 SELL +90 PIPS 🟢 BUY +40 PIPS 🟢 BUY LIMIT +200 PIPS 🔻 SELL +20 PIPS 🟢 BUY +40 PIPS 🟢 BUY +20 PIPS 🟢 BUY +40 PIPS 💰 GOLD TOTAL: +600 PIPS --- 📅 TUESDAY 04/11/2025 🔻 SELL +20 PIPS 🟢 BUY LIMIT +70 PIPS 🔻 SELL +30 PIPS 🟢 BUY +20 PIPS 🟢 BUY +20 PIPS 🔻 SELL +240 PIPS 🎯 LIVE TRADING SESSION 🔻 SELL +20 PIPS 🔻 SELL +20 PIPS 🔻 SELL +170 PIPS 💰 GOLD TOTAL: +400 PIPS --- 📅 WEDNESDAY 05/11/2025 🔻 SELL +40 PIPS 🟢 BUY LIMIT +20 PIPS 🟢 BUY LIMIT +60 PIPS 🔻 SELL +60 PIPS 🟢 BUY +40 PIPS 🟢 BUY +260 PIPS 🔻 SELL +80 PIPS 🟢 BUY +110 PIPS 💎 BTC/USD TRADE: SELL +900 PIPS 💰 TOTAL DAILY GAIN: +1,570 PIPS --- 📅 THURSDAY 06/11/2025 🟢 BUY (Swing) +610 PIPS (from 05/11) 🔻 SELL +40 PIPS 🔻 SELL LIMIT +70 PIPS 🟢 BUY +40 PIPS 🟢 BUY +150 PIPS 🟢 BUY LIMIT +20 PIPS 🟢 BUY +110 PIPS 🔻 SELL +60 PIPS ❌ BUY -20 PIPS (SL) 🟢 BUY +100 PIPS 🎯 LIVE SESSION: BUY +120 PIPS | BUY +50 PIPS 💰 GOLD TOTAL: +1,350 PIPS --- 📅 FRIDAY 07/11/2025 🔻 SELL +60 PIPS 🟢 BUY +40 PIPS 🟢 BUY +90 PIPS ❌ BUY -40 PIPS (SL) 🟢 BUY +120 PIPS 🎯 LIVE SESSION: BUY +100 PIPS | BUY +125 PIPS | BUY +150 PIPS 💰 GOLD TOTAL: +645 PIPS 💎 BTC BONUS TRADES (Weekend): SAT 08/11 → SELL +400 PIPS SUN 09/11 → BUY +1,100 PIPS --- 📊 WEEKLY SUMMARY 🥇 GOLD TOTAL GAIN: +3,315 PIPS 💎 BTC/USD TOTAL GAIN: +2,400 PIPS 🚀 OVERALL TOTAL: +5,715 PIPS ✅ 48 Signals → 46 Wins | 2 SL 📈 Winning Rate: 96% ━━━━━━━━━━━━━━━ 🔥 Every setup, every session — verified precision and consistency! Join ElDoradoFx PREMIUM 3.0 and level up your trading game. — ElDoradoFx PREMIUM 3.0 Team 🚀
VANTAGE:XAUUSDLong
by ELDORADOFX
The bulls are back, and going long remains the main theme.#XAUUSD OANDA:XAUUSD TVC:GOLD Although the beginning of the week didn't offer a pullback entry opportunity, gold rallied immediately after the open, breaking through 4030 as expected and continuing its upward trend, officially signaling the return of the bulls to the market. From the hourly chart, gold broke through the resistance of the upward channel at 4055 and continued to fluctuate upwards, indicating that the bullish momentum remains strong in the short term. However, attention should be paid to the resistance at 4080-4100 from the weekly MA5 moving average and the daily middle line, and be wary of a possible pullback after a surge. Therefore, in the short term, avoid blindly chasing the rally, patiently waiting for a pullback to buy remains our main trading strategy. The first support level to watch is the 4055-4045 level, a previous resistance turning point, followed by the important support at 4030-4020. Therefore, if gold prices fall back after encountering resistance during the European session, we can consider going long on gold in batches based on the strength of the pullback.
OANDA:XAUUSDLong
by Miracle-Walker_GC
Gold struggles below $4KI think it is fair to say that the $4K level is super important in as far as gold’s short-term direction is concerned. A potential breakdown below $3930 would signal gold has decided to stay below this $4K level. The $3930 level is where gold found support from earlier this week, so a break below it would now be quite significant from a technical standpoint. On the upside, $4045 is where gold needs to climb above to trigger technical selling above it. This was the high from last Friday. While gold decides which direction to break, I don’t have too strong a view on the metal currently. Granted, the fresh weakening of the US dollar amid signs of weakness in labour market as reported by Challenger yesterday, and the drop in consumer confidence as reported by the UoM today, both point to potential gains for gold. However, the metal has been trending in the same direction as equity markets. Therein lies the problem. With stocks struggling, gold has been unable to find any fresh haven demand to give it a lift above $4K. By Fawad Razaqzada, market analyst with FOREX.com
FOREXCOM:XAUUSD
by FOREX.com