Get started

GC1! (Gold Futures)

XAUUSD: Channel Down sell signal as last May.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): The All Time High (ATH) 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 see that the underlying pattern is a Channel Up on the medium-term, which last week broke below its bottom but found Support exactly on the 1D MA50 (blue trend-line). As you see on the chart, there is uncanny symmetry between the price action since the September 20 High and the sequence from February 02 until May 16. Both resulted in a Channel Up, which on May 16 broke to the downside and extended the sell-off below the 1D MA50 and to (initially) a -7.20% decline from the Channel Up Lower High. As a result, since the price has already brokne below the current Channel Up and seems to have been rejected on an emerging (dotted) Channel Down as in May 2023, we expect this time to break the 1D MA50 and Support 1 and extend towards Support 2. We are bearish, targeting 1930. ------------------------------------------------------------------------------- ** 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 → Bears are around. The fall may continue, but....FOREXCOM:XAUUSD is under selling pressure amid the global bull market. Earlier, the price updated the high to 2150, after which it formed a rather strong conglomerate of bearish patterns. Last trading week, the market rattled everyone's nerves. And the reason for that was the incompetence of the Fed as a structure that has a huge influence on the market. The paradox of the Fed this week was that Fed Chairman Jeremy Powell gave a strong pattern on Tuesday that they are discussing rate cuts and are ready to do so in the future. As a consequence, an aggressive reaction is forming in the market in the form of a bullish momentum of 3%. And on Friday, one of the Fed's representatives, Williams, said that they are not even going to consider this issue anytime soon. He also added that the Fed is seriously ready to raise rates if necessary. the market reacts with strong sell-offs of $300 or 1.5%. The price is testing one of the strong support areas and from the technical analysis point of view, there is a chance to see a rebound and a retest of the local resistance before a further decline. In the coming week it is worth paying attention to the following news, the data on which can also determine the medium-term outlook for the market: GDP QoQ, Initial Jobless Claims, Philadelphia FED MI Core DGO, CORE PCE Based on the fundamental data from last week, there are strong indications that we should expect the TVC:DXY to strengthen from the market opening and in the medium term. Consequently, after a small correction, gold may continue its decline towards the imbalance zones, which are obviously still of interest to the market maker. The medium-term target may be the support area below 1975. The market may test the support of the global price channel before further growth. At the moment, the priority of forces is for the bulls, as there are a number of nuances and patterns that point to this. Regards R. Linda!
OANDA:XAUUSDShort
by RLinda
24
GOLD slow down and wait for market signalsWorld gold price is at 2,020 USD/ounce. Volatility in the gold market this week is said to be difficult to predict as investors continue to evaluate the US Federal Reserve's (FED) updated economic forecasts announced at its final policy meeting. in 2023. In addition, investors and traders will also be watching a number of important reports, including the personal consumption expenditure index that will be released on Thursday. If the report shows inflation continuing The decrease will strengthen the possibility that the FED will cut interest rates next year and push gold higher. On the contrary, a rising inflation scenario will put pressure on gold. Gold's resistance is forecast at $2,050/ounce, followed by the highest level reached in May of around $2,075. It is also not excluded that gold will conquer new highs in the near future. Gold's current support level is 2,010 USD/ounce. If this level is broken, the precious metal could fall to $1,990/ounce, or even lower.
OANDA:XAUUSD
by Xayah_trading
GOLD → The market is warming and bullish potential is forming FOREXCOM:XAUUSD strengthens and tests the local high but fails to reach the key resistance at 2050. A strong consolidation above the 2030 level and subsequent momentum is forming. On D1 we see the potential that the market is aiming for. On the background of weakening TVC:DXY , on the gold market bulls form a strong support area below 2030 after which within the framework of realization of the accumulated potential the market strengthens, forming a bullish impulse. For us at the moment the area of 2034 and 0.382 fibo plays an important role. As the pre-breakout consolidation is formed in relation to the resistance, and after the false breakout of 2040 the price does not fall, but breaks the resistance, it seems that with a positive fundamental background the market may continue its growth. But before the growth the price may finally test the support. As part of the realization, the price may reach the area of 2050 or even 2060. Closing of today's daily session will determine for us the medium-term potential for the next week. Resistance levels: 2047.5, 2050. 2062 Support levels: 2038, 2030, 2025 It seems that the market is getting ready to test the resistance. A pullback within the range may follow. Price return to resistance will prepare the market for further growth. Regards R. Linda!
OANDA:XAUUSDLong
by RLinda
33
GOLD the trend is up but no longer strongOn the world market, gold price reached 2,034.65, an increase of 1.99 USD. The Fed's admission that inflationary pressures are on the decline has increased expectations for interest rate cuts. This has affected the strength of US government bond yields and the USD, but has a positive impact on the gold market. In the short term, according to technical analysis, gold is still in an uptrend but not as strong as before. The nearest resistance level for gold price is 2,012.5 USD/ounce (highest on December 12) and the next strong resistance level is 2,075 USD/ounce. Meanwhile, the support threshold is 1,955.4 USD/ounce. This is the lowest level in November.
OANDA:XAUUSD
by Xayah_trading
XAUUSD: Hit the top of the Channel Down.Gold reached the top of the ATH Channel Down and so far is being rejected. Turning bullish on its 1D technical outlook (RSI = 57.506, MACD = 11.660, ADX = 41.229) means that it is not unlikely for the top to break but we will engage (buy) only if the R1 level (2,048) breaks and target the R2 level (TP = 2,090). Until this happens, we will use the rejection to short and target the S1 level (TP = 1,972.50). See how our prior idea has worked: ## 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
1
GOLD → The market's violent reaction. What to expect next...FOREXCOM:XAUUSD is once again meeting strong bulls. Powell's speech influenced the price growth and a 2.8% momentum is forming. Let's see what happened and what to expect: Most important: The rate remained unchanged. Inflation eased 0.1% to 3.1%. In fact, there was no change . Speculators liked Powell's more positive tone, which caused them to react with a rather aggressive infusion of capital into the market. But again, everyone, as well as the Federal Reserve and analysts expect the rate reduction not earlier than March 2024. Apparently, there was an internal psychological hunger on the background of long waiting for any hints or actions and as a result, we see the weakening of the TVC:DXY and the growth of gold. Today we expect important news at 13:30 GMT. Analysts expect the data to remain unchanged. In terms of technical analysis, Gold is testing the resistance of the previously created range of 2038. A false breakout is formed, which may lead to a small correction before further growth amid positive fundamental background. The price may test 2030, 2025, 2020. But a retest of 2038 and consolidation above the level will contribute to the strengthening of gold. Support levels: 2030, 2025, 2020 Resistance levels: 2038, 2049 I think that before the news there will be a sideways range and consolidation, after the news the price may form a correction before further growth. But everything depends on the news. Regards R. Linda!
OANDA:XAUUSD
by RLinda
8
Gold/XAUUSD ~ Blow-off Top Keeps On...Blowing? (2H)TVC:GOLD chart mapping/analysis. Gold's massive (algo-triggered) blow-off top killed the bullish momentum - pending further selling pressure if DXY/bond yields decide to rally into end of the year.. Trading scenarios into EOY: Selling pressure towards 50% Fib initial support zone. Bearish EOY capitulation target = Golden Pocket support zone. Expect any bullish reversal to be met with sellers, pending underlying relative strength in DXY/bond yields. 38.2% Fib / 200SMA confluence zone as potential target for short positioning, TBC.
TVC:GOLDShort
by BlueHatInvestor
1
GOLD → Pending FOMC & FED. Price may fall even lower FOREXCOM:XAUUSD is in consolidation phase and it is likely to last until 19:00 GMT. The market is waiting for news and no strong movements in one or the other direction should be expected before the time. The premise is that the dollar will strengthen: Friday's NFP continues to be bullish for the TVC:DXY (pattern to break resistance is forming) PPI is expected to be bullish Overall the data over the past few days will not allow Powell to cut the rate. Inflation is still strong to change policy. Against this backdrop, gold may test one of the local highs: 1990, 1996, 2000 before falling further Overall, from a technical point of view, there is still a huge buying imbalance in the gold market, the market maker can take the price much lower to balance the situation and at the moment the negative fundamental background is contributing to this. Support levels: 1976,2 Resistance levels: 1984.3, 1990, 1996 The price continues to update the lows and this indicates the mood of the market. The fundamental background for gold is unfavorable and the decline may continue. The situation may change if today's news and its actual data are not extremely opposite to expectations Regards R. Linda!
OANDA:XAUUSDShort
by RLinda
36
XAUUSD Fed spike is a great sell opportunity.Gold is rising today after the Fed Rate Decision (unchanged, Powell implying we are near or at the end of the hike Cycle) but also technically as it found support on the 1day MA50. This price action isn't diverging from the recent past. After the sharp decline of September, Gold peaked on October 27th, pulled back to the 0.382 Fibonacci and then made a new All Time High. The exact same pattern was printed at the start of 2023. The All Time High then pulled back to the 0.618 Fibonacci level of the February bottom. According to this, today's spike is a solid opportunity to sell at a high level and target 1939 (0.618 Fib). Previous chart: Follow us, like the idea and leave a comment below!!
FX_IDC:XAUUSDShort
by TheCryptagon
Gold: Bearish Dominance 🐻The bears are currently not giving up control of the gold price and have caused strong sell-offs. Nevertheless, we primarily see this as part of the substructure of the turquoise wave B and expect the rally to continue soon. However, for this scenario to remain in tact, the reversal must take place above the support at $1935. Should this level be broken, the alternative with a probability of 40% would come into play, which sees the price already in a descent.
COMEX:GC1!Long
by MarketIntel
GOLD need a more obvious sign of sharp macro declineWorld gold prices on Tuesday hovered around the 1,990 USD/ounce mark after 2 sessions of decline. World gold prices became more cautious due to information that US consumer prices unexpectedly increased in November, as traders are waiting for important central bank policy meetings to find clues about the policy. currency book. The consumer price index (CPI) increased 3.1% year-on-year in November, in line with economists' expectations. November CPI increased 0.1% compared to the previous month. At the same time, the annual base interest rate remains at 4%. All eyes are on the Fed's two-day monetary policy meeting, which will end on Wednesday with a decision on interest rates and the release of summary economic forecasts. The Fed is expected to leave interest rates unchanged this week, with about an 80% chance of a rate cut in May, according to the CME FedWatch Tool.
OANDA:XAUUSD
by Xayah_trading
XAUUSD Trading plan based on break outsGold is trading inside a Channel Down since the December 3rd All Time High. The Lower Lows so far have been almost equal, -3.27% and -3.12%. If this pattern holds the next Lower Low can be -0.15% lower, i.e. -2.97%. Trading Plan: 1. Sell as long as the price trades inside the Channel Down. 2. Buy if it breaks above. Targets: 1. 1938 (-3.00%). 2. 2018 (contact with the MA50 (4h)). Tips: 1. The RSI (4h) is on a Rising Support so far, being much like November 10th. If it holds while the price makes a Lower Low, it will favor more the bullish scenario. Please like, follow and comment!!
FX_IDC:XAUUSD
by TradingBrokersView
GOLD → Waiting for the CPI. Will the situation change much?OANDA:XAUUSD continues to fall despite the expectations of many. The price is testing the 1984 area and updated the low to 1975.89. What can happen today? The TVC:DXY is in a local trend phase, but at the same time it is consolidating in anticipation of today's CPI and further news this week. The main gaze is directed towards FED interest rate decision, FOMC statement, Initial jobless claims. Against the backdrop of Friday's NFP we can say that things are still not very stable and the representatives of the US economic system may still consider a tougher outlook. In this case the dollar index will continue its growth and gold will go down. Technically, the metal is in the red zone, updating lows and testing resistances from below. The chances that the market will change the trend are not so great. Analysts expect bullish CPI, which will strengthen the dollar. Gold may fall further after a shakeout, within which it may test nearby resistances. Support levels: 1980, 1975, 1965 Resistance levels: 1984, 1890, 1994 I expect a shakeout on the background of the news, after which the decline may continue with a high probability. The potential is on the side of the bears, their strength prevails at the moment. Regards R. Linda!
OANDA:XAUUSDShort
by RLinda
11
🥇 GOLD - Targets are much lower. The session starts with a dropThe selling continues. Markets are leading the price towards the global target, where the rally started, due to heavy buying volumes. The weak fundamental background related to NFP, Initial Jobless Claims, supports the dollar, on which background gold will weaken The beginning of correction ↓: 1) Breakout of local support lines 2) Accumulation before further decline 3) Downward triangle 4) Market continues to update lows 5) Weak fundamental background
OANDA:XAUUSDShort
by AndeWave
6
GOLD fluctuating in the lowest price range for more than 20 daysWorld gold price stood at 1,983 USD/ounce, down sharply by 20 USD/ounce compared to the same hour yesterday morning. Gold is fluctuating in the lowest price range over the past 20 days. Gold traders are waiting for some new fundamental information. Gold's short-term chart condition has worsened. If the CPI number is higher than expected, that could create some selling pressure in the gold market. Today, the US Federal Reserve (Fed) will hold its first meeting in two meeting days in December. Experts say that with stable employment information and actual inflation as expected, it is likely that the Fed will still keep interest rates high until the inflation target of 2% is achieved. If the economy and employment are stable, high interest rates will cause gold prices to continue to decline. In essence, the market is facing a promising buying opportunity, but the necessary momentum has not yet materialized. The path ahead for gold remains uncertain, but it is this uncertainty that makes it an attractive market to watch in the coming days. Meanwhile, information from the World Gold Council (WGC) said that central banks continued their race to buy gold, with monthly net purchases reported at 42 tons in October.
OANDA:XAUUSD
by Xayah_trading
GOLD → Strong bears have come in. price is making new lows NCDEX:GOLD after NFP is updating 2-week low and preparing to decline further as fundamentally, we notice a reversal of market sentiment. On D1 the TVC:DXY is forming a reversal setup and another retest of the key level. Against the backdrop of positive NFP, the index could strengthen quite strongly within the medium-term outlook. In the COMEX:GC1! market, there is still a huge market imbalance in favor of buyers, whose number began to increase since the beginning of the conflict in the Middle East. A final break of the 1994 support and further price decline towards 1984 is expected in the near future. But before that the market may test the local highs (resistance). Moving averages indicate a strong bearish trend. Resistance levels: 2000, 2004, 2007 Support levels: 1991, 1984, 1965 Fundamentally and technically gold is going down. There is no strong news today, but the market may test the nearest resistance to capture liquidity before falling further. Regards R. Linda!
OANDA:XAUUSDShort
by RLinda
17
XAUUSD 1D Symmetry giving a strong break-out sell signal.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 see that the underlying pattern is still a Channel Up on the medium-term, with the price approaching its bottom. As you might have already observed there is uncanny symmetry between the price action since the September 20 High and the sequence from February 02 until May 16. Both resulted in a Channel Up, which on May 16 broke to the downside and extended the sell-off below the 1D MA50 and to (initially) a -7.20% decline from the Channel Up Lower High. As a result, if the price breaks below the current Channel Up, we expect not to stop on the 1D MA50 or Support 1 but rather extend towards Support 2. That will be a break-out sell signal for us, targeting 1930. ------------------------------------------------------------------------------- ** 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 expected to decrease this week.World gold price trades at 1997 USD/ounce. Compared to last week's closing session, world gold prices decreased slightly by 6 USD/ounce. Some analysts believe that the coming time will be challenging for gold. Currently, the gold market is under pressure because the November employment report in the US published last weekend was quite positive. Specifically, non-farm payrolls in the US in November created 199,000 new jobs, higher than the forecast 180,000 jobs and 150,000 jobs created in October. The unemployment rate in November was at 3.7%, lower than forecast and reached 3.9% in October. Average hourly income in November also increased from 0.2% in October to 0.4%, higher than the 0.3% forecast. The gold market is also under pressure because the US Federal Reserve (Fed) meeting will take place on December 12 and 13. Closing last week's trading session, gold prices fell sharply by more than 3% at the end of last week, causing the gold market to witness the strongest fluctuation since mid-August 2020. Many experts predict precious metal prices will decrease this week. After the jobs report and wage data released last week, the US Federal Reserve (Fed) may become more hawkish, which will push the USD and bond yields higher, putting pressure on for gold price.
OANDA:XAUUSDShort
by Xayah_trading