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GC1! (Gold Futures)

GOLD → How can NFP affect the price of gold?FOREXCOM:XAUUSD is updating highs but continues to be inside a sideways movement limited by resistance at 2065 and support at 2020. The market is in the waiting phase for NFP. Quite an interesting situation this week. The asset is forming a retest of 2062 resistance on D1, but below is a strong support at 2050-2048, which hides a large pool of liquidity behind it. There is a chance that the price may retest this area before or on the backdrop of the news. In the mid-term, it is expected to rise as we have a chance to see NFP below 216K published in December. Technically, gold is in consolidation between 2058 - 2048, a classic situation where the market does not know what will happen. The price is restrained by the resistance of the range 2058-2064, if this area is broken, the distribution to 2078-2088 may be formed. And already below 2030 a panic zone is formed, which, from a theoretical point of view, the price can also test in order to get rid of an unnecessary passenger before further movement of the train. Support levels: 2048.8, 2039.4, 2030 Resistance levels: 2058.3, 2064 Based on the data, we have a high but not 100% chance that NFP may show bearish data for the US market, which could be positive for gold. But! The unpredictability of the news is not canceled! TVC:DXY TVC:GOLD COMEX:GC1! COMEX_MINI:MGC1! Regards R. Linda!
OANDA:XAUUSDLong
by RLinda
13
XAUUSD is still Bearish long-term and this is why.Following the two day price surge after the Fed kept the Interest Rates unchanged and communicated their intensions of being in no rush to cut rates, we believe it would be beneficial to look Gold (XAUUSD) from a long-term perspective again and in doing so, we are updating our December 27 2023 (see chart below) comparison between the 3 Cycle Tops since August 2020: As you can see, we were spot on with shorting the rejection on the 0.618 Fibonacci level (which was the case on the previous 2 Cycles (their first Lower High)) but even though the price did break below the 1D MA50 (blue trend-line), the recent 2-day rise is delaying the 1975.00 Target (Support 1). However Gold is not completely unfamiliar to this as during September 2020, the price made several Lower Highs as well, before hitting Support 1. The 1D RSI break-out sequence above the Falling Wedge, confirms this exact expectation that Gold may trade sideways for as long as a month before a new Lower Low. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
FX_IDC:XAUUSDShort
by TradingShot
GOLD → The sideways movement continues. What's going on?FOREXCOM:XAUUSD continues to be in global and local sideways movement, which is already annoying. The difficulty of trading lies in the fact that it is more difficult to identify strong zones to enter positions than in a trending market. It is allowed to trade from strong borders or zones, otherwise the market will simply tear up. Technically, gold continues to push up to the 2048 resistance. After the false breakdown, there is no fall and we see that the price is slowly but approaching the boundary, but at the same time volumes continue to decline. Or, hidden accumulation of potential is formed and if the price continues slow approach to 2048.7 in the future, the level may be broken soon. But it is too early to say about it. The price makes a false breakdown of 2048.8 and on the retest makes it clear that bears are not letting up yet. On the background of the news, the price may head towards trend support, either from 2048.8 (after another retest), or after a break of 2040, as there are no local reasons for growth beyond 2048.8 at the moment. Support levels: 2039.4, 2030.9, 2020.8 Resistance levels: 2048.8, 2058.3 There are still some important news ahead, most likely the market will not change much, except for some highly volatile movements, but in general the price will remain in a range, probably until tomorrow's NFP TVC:DXY COMEX_MINI:MGC1! TVC:GOLD COMEX:GC1! Regards R. Linda!
OANDA:XAUUSDShort
by RLinda
11
GOLD → Traders are panicking. Growth amid low volumesOANDA:XAUUSD has been trading in a very narrow range lately with low volatility, while the dollar index is standing still. Something very turbulent is coming. A stalemate and confusing situation is forming on D1. On the background of retests of resistance areas and attempts to break the upper trend boundaries, trading volumes are decreasing in the market. Technically, the price is gradually pushing towards the resistance at 2039.4 to break it. After a false breakout, there is no fall and the price is testing this level again. Volumes are falling at this time. There is strong news ahead. In the mid term, traders are waiting for news that could weaken gold. But amid the initial reaction, the XAU price may test the resistances. And after stabilization of the situation, the fall (which is waiting for the market, judging by the volumes) may continue. Resistance levels: 2039.4, 2048, 2058 Support levels: 2033, 2029, 2020 There is news ahead, which will come gradually. The strength of the news is high. Technically, gold may strengthen temporarily, but fundamentally and on the background of weak purchasing power, the price may fall in the future. Everything is determined by the actual fundamental background. Regards R. Linda!
OANDA:XAUUSDShort
by RLinda
23
GOLD strong fluctuations after FOMCGold prices fluctuated strongly after US Federal Reserve Chairman Jerome Powell strongly opposed expectations of loosening monetary policy in March. Specifically, at the first monetary policy meeting For the first part of 2024, the US Central Bank decided to leave interest rates unchanged but the head of this central bank, Mr. Powell, rejected the idea of ​​cutting interest rates in the spring, which many market participants did not like. school expected. At the end of the session, the Federal Open Market Committee (FOMC) announced that interest rates would not change until the US Federal Reserve (Fed) has greater confidence that annual inflation is about 2 %. After the meeting, traders reduced bets on the start of US interest rate cuts in March and expected monetary policy easing in May to be possible. In another development, according to a recent report from the World Gold Council, global central banks' gold demand is strong in 2023 with a total purchase of 1,037 tons, of which China is still the main country. country with the greatest need. Experts from the World Gold Council also added that demand will continue to be maintained this year.
OANDA:XAUUSD
by Xayah_trading
1
XAUUSD: Rejection at the top of the Channel Down.Gold is neutral on the 1D technical outlook (RSI = 56.363, MACD = 190.210, ADX = 36.018) with a 4H RSI that turned overbought at 70.000 intraday. This just so happened to take place exactly at the LH trendline of the monthly Channel Down as long as daily closes under the R1 level (2,062.00), the medium term trend remains bearish. Two short entries are recommended here, one to target towards the S1 level (TP1 = 2,005) and the other the bottom of the Channel Down and near the S2 level (TP2 = 1,980). The latter will be closed earlier if the price breaks over the 4H MA50 before hitting the target. See how our prior idea has worked out: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
FX_IDC:XAUUSDShort
by InvestingScope
GOLD → Resistance breakout in the absence of volumesOANDA:XAUUSD is breaking through several resistance lines. But there are a few nuances that hint that this breakout may be false. Pic: Global range and no clear strength among buyer or seller On the two charts from the high timeframe, we see a breakout of resistance. Technically, we should expect further growth. But I am very much confused by the lack of volumes . This fact suggests that traders do not support this movement, which can be formed with manipulative sense before the flow of strong news on Wednesday, Thursday and Friday. Pic: Growth and resistance breakout amid weak volumes Technically, the Market Maker may test 2045 and 2048.8 as this zone is also an area of interest. But there is still a high chance of a false breakout with further decline. Resistance levels: 2039.4, 2045, 2048.8 Support levels: 2035, 2030, 2025, 2020 The situation is tense. The market continues to stand still before strong news. Within the current range, we should expect trading to continue inside its boundaries. However, at the moment, there is still pressure from sellers on the back of a strong dollar TVC:DXY OANDA:XAUUSD COMEX:GC1! COMEX_MINI:MGC1! Regards R. Linda!
OANDA:XAUUSDShort
by RLinda
39
XAUUSD VERY BULLISH PROBABILITY - INDEPTH ANALYSIShello guys , after today it seems like gold want to move up here is why : first of all On the daily time frame we have a double bottom Today the price broke a key trendline which he rejected for quite some time the price also broke last 30 days point of control (poc) which means buyers beated the sellers. also the close of the daily candle indicates a bullish continuation . confirmation is the break of 2035 area which plays as a resistance zone and a neckline of the daily double bottom if the break out is valid. TARGETS ARE ON CHART . keep in mind this week is super action packed due to fondamentals so watch out for those.
EIGHTCAP:XAUUSDLong
by xAB777
GOLD → Resistance Retest. What is the chance of a short-squeeze?FOREXCOM:XAUUSD has been testing trend resistance since the opening of the session. At the same time, the dollar index continues to consolidate, but within the upward trend. Regarding the trend resistance XAU we observe a retest, if we pay attention to the volumes, they are absent. What is the probability of a short-squeeze in such a case? The market may go from local downward movement to a sideways phase, as evidenced by the unclear market environment and global flat trading in the whole forex. The new range in gold could be: 2035-2020, or 2060-2020. There is an important resistance ahead - 2035, which may be of interest to the market maker because there is a huge pool of liquidity above it, which can be determined by the volume profile. Resistance levels: 2035, 2039.4 Support levels: 2020, 2010 At the moment it is worth looking at the resistance at 2035 and 2039.4. * A false break of the lower one will generate signals for the continuation of the range formation. In this case, the price will head towards the support. * But a breakthrough and price consolidation above 2039.4 will form a signal for the continuation of growth to 2040-2060. TVC:DXY COMEX:GC1! TVC:GOLD COMEX_MINI:MGC1! Regards R. Linda!
OANDA:XAUUSDShort
by RLinda
16
XAUUSD 4H MA200 and to of Channel Down Sell.Gold (XAUUSD) is about to test the 4H MA200 (orange trend-line) for the 4th time in 10 days having already 3 failed bullish break-out attempts (all 4H candles broke but failed to close above it). At the same time, all this price action is being done at the top (Lower Highs trend-line) of the 1-month Channel Down pattern, which strengthens the sell sentiment. Technically since the December 03 2023 All Time High (ATH), the metal has been on a neutral medium-term trade within a Resistance and a Support Zone, the latter being the ideal target at the moment. Every Lower Lows leg of the Channel Down has been approximately -3.00%. Since we have a Diverging Lower Lows trend-line involved this time, we will target 1983.50, marginally above the top of the Support Zone. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
FX_IDC:XAUUSDShort
by TradingShot
6
🥇 GOLD - Is the price getting ready to fall further? Gold may continue to fall in the medium term as there are now no clear reasons for further gains. Fundamentally, the dollar still looks strong, which could technically weaken gold. For the gold market and market maker, there are important targets below 2000, where, theoretically and technically, could bring the price down. Reasons for further decline: 1) False PDH breakout, no reaction and no upward momentum 2) Negative fundamental background for gold 3) Local trend is bearish (tops are declining, lows are declining) 4) Retest of resistance leads to a false breakout. Bears are showing strength
OANDA:XAUUSDShort
by AndeWave
1
GOLD → Pressure on XAU price. Consolidation below MA-50FOREXCOM:XAUUSD continues to forge a bearish correction amid a localized decline in interest due to a strengthening dollar index. Pic: Bearish pressure on the 2025 level On D1 we can observe the sawing of 2025 level on the background of strong struggle, buyers have formed quite a huge pool of liquidity below 2025-2020. But on the background of market pressure the price still enters the range 2025 - 1984. And we can see it on the background of confirmation in the form of price consolidation below the resistance. There is a lot of strong news in the coming week, starting from the FOMC, FEC speech, which will obviously discuss the further situation with inflation and interest rate, and NonFarm Payrolls on Friday. This period is expected to be quite volatile, but only in its second half. Pic: The priority trend on H1 is bearish. Downward price channel Technically, on the local timeframe we see the formation of a bearish price channel, earlier the price overcame the 2035-2020 consolidation support, at the moment the market is in the correction phase and retesting the previously broken area. On D1 the gold is consolidating below the daily MA-50 and essentially opens us a new path for a possible decline, as now the market and whales may be interested in the 2000-1984 area, before a possible further rise. From the opening the market may form another retest of the 2020-2025 resistance area before continuing the local trend TVC:DXY COMEX:GC1! TVC:GOLD COMEX_MINI:MGC1! Regards R. Linda!
OANDA:XAUUSDShort
by RLinda
8
GOLD → Downtrend and fundamental background FOREXCOM:XAUUSD continues to forge a downward price channel as the dollar index strengthens on a positive fundamental backdrop. In general, this is a negative scenario for gold, but the bulls continue to keep the price from a strong fall as much as possible. Pic: Consolidation of price below 2025 under pressure from downward resistance Today Core PCE PI is published, a slight change for the worse is expected (by analysts and traders), but I don't think it will make a global difference against the backdrop of GDP and yesterday's news. BUT, only if the actual data is not released with a big difference to the expected data. Technically, gold is testing the strong 2020-2050 zones on the back of the downtrend within H1-H4. Earlier we saw the price moving out of the range, at the moment the price is testing this area. Before a possible further decline, the price of gold may test the trend resistance, which in the mid-term may continue on the background of a rising DXY. Resistance levels: 2020, 2025, 2030, 2035 Support levels: 2010, 204, 2000 Since gold is trading with a negative fundamental background (at the moment there are no fundamental or technical preconditions for growth or change of trend) and within a downtrend, at the moment the market has chances to test local lows up to 2004 (1985) TVC:DXY TVC:GOLD COMEX:GC1! COMEX_MINI:MGC1! Regards R. Linda!
OANDA:XAUUSDShort
by RLinda
2
GOLD → How long will the distribution phase in the channel last?OANDA:XAUUSD is entering the distribution phase after the consolidation phase. The market is trying to test the local lows, but will the price go even lower, because there is news ahead. The 4H clearly shows an uptrend within which a correction is forming. Until the price overcomes the area of 2015 - 1980, we should not talk about a global change in the trend. The chart shows that the bulls will continue to hold the area of 2010-2020 on the background of numerous retests, but the sellers are gaining momentum and continue to push the price to the level. At the moment in the distribution phase the price is heading towards 2009 - 2004. And there is a high probability of testing these levels, but we are interested in the news (fundamental) background. Since gold is trading inside the descending price channel, and the price has not yet tested the trend support area, it is difficult for us to talk about the possibility of its breakout, as we do not know the reaction and local preconditions. There is a higher probability of a bounce from the levels. Support levels: 2009 (2010), 2004, 2000 Resistance levels: 2018, 2020, 2035 Gold's decline is difficult and slow as strong bulls try to contain the support area. A break of support will generate strong momentum and huge volume, but will it happen on the back of the news? TVC:DXY TVC:GOLD COMEX:GC1! COMEX_MINI:MGC1! Regards R. Linda!
OANDA:XAUUSD
by RLinda
7
GOLD → Retest of resistance inside the range at the downtrend FOREXCOM:XAUUSD continues to consolidate in the range of 2035-2020. It is likely that tomorrow's news may revitalize the market. Today the market continues to stand still, this can be seen in both the dollar and gold. Consolidation continues as the market is still uncertain with the future outlook, this could continue until tomorrow as tomorrow's news is Initial Jobless Claims, GDP , and the strength of these factors could determine the medium term outlook. Technically, GOLD is still in consolidation, but within a downtrend. For now, we continue to emphasize the in-range trading strategy (buy and sell from consolidation boundaries or strong levels). Let me remind you that the global trend is neutral and this is an ideal nuance for intra-range trading. And the local downtrend indicates the approximate market mood. Resistance levels: 2035, 2038, 2039.4 Support levels: 2025, 2020, 2018 A false break of support defines a local target in the form of resistance. A test of range resistance can form a sell signal. As long as the price does not break the trend or the range boundary, trading within this framework will continue TVC:DXY COMEX_MINI:MGC1! COMEX:GC1! TVC:GOLD Regards R. Linda!
OANDA:XAUUSDShort
by RLinda
22
GOLD "Push ups" dropped drasticallyThe world gold price was at 2,016 USD/ounce, down 10 USD/ounce compared to the same time yesterday morning. Gold prices turned lower after the latest published data showed US business activity remained strong. In particular, S&P Global survey results showed that US business activity recovered in January. A strong US economy coupled with resistance from US Central Bank officials caused some Investors to reconsider betting on an interest rate cut by the US Federal Reserve (Fed). The gold market is in a neutral environment as prices continue to stay above 2,000 USD/ounce and are unable to break out of the current range. Gold's recovery appears to be fading, raising the risk of further weakness if central banks continue to defy market expectations of interest rate cuts. Currently, investors are waiting for other economic indicators to get more clarity regarding when the Fed will make its first interest rate cut. This week, the US will release preliminary fourth-quarter GDP estimates on Thursday and personal consumption expenditure data on Friday.
OANDA:XAUUSDShort
by Xayah_trading
🥇 GOLD - Resistance test before falling Gold can't overcome the resistance as the market has no potential at the moment against the backdrop of a strong dollar. Perhaps the whales are waiting or the market maker is aiming to take the price even lower before further growth, but the gold is currently showing signals for further decline rather than growth. Reasons for further declines: 1) Consolidation near support. 2) Price continues to update local lows 3) Bearish trend 4) Dollar is strengthening 5) Retest of resistance may send price to support 6) Another retest of 2016.82 support will break it and price may continue the bearish trend
OANDA:XAUUSDShort
by AndeWave
5
GOLD slight increaseThe gold market is in a neutral environment as the price continues to maintain above 2,000 USD/ounce and cannot break out of the current range. World gold price stood at 2,026 USD/ounce, a slight increase of 6 USD/ounce compared to the same hour yesterday morning. The gold market is in a neutral environment as the price continues to maintain above 2,000 USD/ounce and cannot break out of the current range. Recently, many forecasts suggest that the US Federal Reserve (Fed) will not lower interest rates at its meeting in March and will only lower interest rates from mid-2024 at the earliest. With quite hawkish statements from Fed officials , financial markets have tempered expectations that the Fed is ready to cut interest rates. This week, there are two economic reports that could change Fed interest rate expectations. On Thursday, the US Department of Commerce will release a preliminary report on gross domestic product (GDP) for the fourth quarter of 2023. Many experts predict that US GDP will increase by 1.7%, the lowest increase since the 0.6% decrease recorded in the second quarter of 2022. In addition to economic data, investors are also waiting for the decisions of major central banks such as the Bank of Japan, the Bank of Canada and the European Central Bank. The decisions of these banks are expected to have an impact on the direction of both the greenback and gold. Although it is in a downward trend and moving sideways in the short term, experts believe that gold prices are benefiting from geopolitical instability in the world and conflicts between two economic powers, the US and China. Gold prices are forecast to increase rapidly in the second half of 2024.
OANDA:XAUUSD
by Xayah_trading
GOLD → Global trend is neutral, local trend is downward FOREXCOM:XAUUSD continues to stand still, as does the dollar. The market is uncertain due to many different nuances, mainly fundamental and political factors. On D1 we can see that gold does not have any definite trend at the moment, on H1 there is a downward range, but it plays a mediocre role. Since for now gold is in the range of 2052 (2035) - on top and 2018(2009) - on the bottom , in our case it is better to look for strong support or resistance levels to trade the strategy inside the range. There are no prerequisites for a breakout of the boundaries at the moment, so with a high degree of probability the market will continue to forge price movement within these boundaries. In the medium term, the further direction will be determined only by the breakthrough of one of the range boundaries, because now it is impossible to say clearly, as a symmetrical triangle is forming globally. Yes, there are prerequisites for both further growth and decline, but we need to wait for actual indications. Resistance levels: 2035, 2050 Support levels: 2025, 2020, 2018 The moving averages indicate sideways movement, which is what we see. An intra-range trading strategy (from strong levels or range boundaries) is recommended. The global trend is neutral and the local trend is downward. TVC:DXY COMEX:GC1! CAPITALCOM:GOLD COMEX_MINI:MGC1! Regards R. Linda!
OANDA:XAUUSDShort
by RLinda
9
GOLD head downhillWorld gold price stood at 2,020 USD/ounce, down 10 USD/ounce compared to the same hour yesterday morning. Improved optimism has had a significant impact on gold prices. Investors turned their attention to more risky markets such as stocks, causing gold prices to decline. Technical selling and a recovery in equity markets could be the two main factors limiting investor interest in the international gold market. In addition, according to analysts, the gold market is not doing well in the context of investors reducing expectations that the US will cut interest rates, after the US Federal Reserve (Fed) said it needed to monitor more inflation data. before loosening monetary policy. Since then, the USD has remained anchored at a high price, which is detrimental to today's gold price. Gold prices fell about 1% last week, the biggest weekly decline in six weeks. According to CME FedWatch Tool, traders are assessing a roughly 43.5% chance the Fed will cut interest rates in March, compared with more than 70% at the beginning of last week. Investors are now waiting for the US preliminary purchasing managers index report to be released on Wednesday, fourth-quarter GDP data expected on Thursday and personal consumption expenditure data on Friday to confirm. There are more signals about the interest rate direction of the US Central Bank.
OANDA:XAUUSDShort
by Xayah_trading
GOLD → Retests of global support. Where can it lead to?OANDA:XAUUSD opens lower on Monday and is testing 2025 for a breakout. Technically, gold is weaker than the dollar as regulators continue to support the index. Fundamentally, the gold market is only watching the dollar's behavior. The dollar index is consolidating after a micro rally, but both technically and fundamentally the index may strengthen. The market sentiment is changing: traders are now betting that the Fed will not start cutting rates until May, while earlier it was March. Gold is in a key consolidation range: 2052 - 2018 (the boundaries are marked on the D1 chart). Anything can happen in relation to the boundaries (false breakout, rebound), as the market is trying to gather the necessary amount of liquidity by any means. But, if you look closely, you can see that the price is forming a retest of the ascending support line. The chances of the support being broken continue to rise. The trigger zone is below 2018. A break of this support and the formation of consolidation below this level could finally turn the market around and direct the accumulated potential towards a bearish distribution. But! Since gold is currently in a range, we have a resistance level, a break of which could give the market an opportunity for growth: this is the 2025-2030 area. Resistance levels: 2025, 2030, 2035, 2050 Support levels: 2018.5, 2016, 2004 Technically, a bearish trend is forming, on d1 price continues to test support for a breakout on the back of a strengthening dollar. I think such preconditions may hint at a possible fall TVC:DXY CAPITALCOM:GOLD COMEX:GC1! COMEX_MINI:MGC1! Regards R. Linda!
OANDA:XAUUSDShort
by RLinda
11
GOLD → Counter-trend correction and a target of 2050FOREXCOM:XAUUSD looks quite strong and on the background of growing dollar index does not give up its positions much. Consolidation in the range of 2069.8 - 2029.6 continues. The dollar index feels overheated but still supported by the US FED & FOMC. Regulators are carefully trying to control the situation and stop any possibility of early interest rate cuts. As we can see, the dollar price is actively reacting to such comments. The index is squeezed between MA200 and MA50 and, in all likelihood, from the support may continue to rise in January-February to the trend resistance, which will have a corresponding effect on the forex market and gold. Gold is trading within the descending price channel and on the background of unstable geopolitical situation, the price is trading calmly inside the range. The logical price reaction to a false break of trend support is a technical reversal is formed and we see a counter-trend correction to resistance. On D1 gold is forming a strong resistance zone formed by several highs ( 2150, 2085, 2070, 2063 ), on the global timeframe, technically and fundamentally the asset looks promising. The current geopolitical situation is affecting the gold price to the upside, but the market is correlated with the dollar index and as long as the latter is strengthening, gold will still react to it. Gold may continue to rise at the beginning of the week for several reasons: - the attacks on Yemen and the response to US vessels continued over the weekend - dollar index closed Friday's session in the correction phase - On the hourly timeframe, gold ended Friday's session with the end of the correction in the 2025 area. The price has consolidated above the psychologically and technically important level, respectively, it will favorably affect the price growth. TVC:DXY COMEX:GC1! COMEX_MINI:MGC1! Regards R. Linda!
OANDA:XAUUSD
by RLinda
5