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GC1! (Gold Futures)

XAUUSD: Channel Up offering trading opportunities.Gold is trading inside a Channel Up on the 4H timeframe since the Nov 12th low. Stable bullish technical outlook on 4H (RSI = 66.543, MACD = 8.550, ADX = 30.155), which calls for an extension of the current price action which is at the bottom of the Channel Up currently, to a new HH. We aim at a +1.96% rise (symmetrical with previous bullish legs), TP = 2,030. Sell if the 4H MA50 breaks (current Support) and target the 4H MA200, our current projected TP = 1,975 but will change depending on when the breakout happens. 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:XAUUSDLong
by InvestingScope
🥇 GOLD - Growth will continue after a pullback Gold continues to strengthen on the trend. This market is attracting more and more investors every day on the background of geopolitical and fundamental factors. I expect the market to continue its upward trend as there are several reasons for this. 1) We are in a strong bullish trend 2) Price is breaking strong support lines today and testing new highs. 2.2 At this point it is worth paying attention to levels such as: 2010, 2007. Use the "false breakout" strategy 3) Gold is getting stronger on the background of attracting investor capital 4) High interest in this market also supports the current trend Targets: 2018, 2020, 2025, 2030
OANDA:XAUUSDLong
by AndeWave
3
GOLD → A weakening dollar boosts the XAUOANDA:XAUUSD gained +1.1% over the past week. The market is quite strong and the end of the trading week shows a bullish mood and several indications that the growth may continue as the asset has not reached its target yet. The week ahead is full of important fundamental aspects. On Wednesday, Thursday and Friday important news will be released, here are the ones to pay attention to: - GDP (QoQ - CPI, Core PCE, Initial Jobless Claims - ISM Manifacturing, Fed Chair Powell Speaks The trend seems to be shifting towards inflation improving, the dollar is easing a bit, but the Fed will not cut rates yet, Powell will not make a major move at this stage when there is no fundamental anchoring yet and the market is just showing a reaction. The TVC:DXY on W1 is in a range, after a false breakdown of resistance the asset is heading towards support, the fundamentals support this decline. Gold on the other hand in its case is headed for a test of its range, the key level at the moment is 2010. Earlier, the price consolidated above the key support 1984, against which there was a struggle for several weeks, and also, the micro rally is triggered by the consolidation above 1993. The market is strong and on the background of the bullish trend is actively capturing important resistance levels. From the beginning of the opening trading session the local resistance at 2003.6 plays an important role, if this area is broken, the price will head towards 2010, then we should expect the price reaction to this area. The market is in the phase of realization of the bullish potential after the formation of a reversal set-up, bounce from the global trend support and false breakdown of MA200. The breakout of 2010, test of 2025 - 2048 may become the target of such realization. Regards R. Linda!
OANDA:XAUUSDLong
by RLinda
23
GOLD → The market is ready to continue to growOANDA:XAUUSD is standing still on Thursday, which we were prepared for. The TVC:DXY opens with a subsequent decline on Friday, which gives bullish hopes for GOLD to strengthen. Let's breakdown: On the local timeframe, the prolonged consolidation is forming a symmetrical triangle, but as a strong support area is forming below the pattern and the price is consolidating above the key liquidity zones, the market may try to realize a bullish scenario. This will be facilitated by a break of the triangle resistance, in which case our target will be 2005 and 2010. Also, due to the fact that the price did not test the liquidity area below 1993, 1984, we have a chance to start another correction before further growth. On D1 gold is in a range and since support was tested earlier, resistance is still our prospect. The target is the upper boundary of the range - the area of 2010. Key support: 1993-1992, 1990, 1984 Key resistance: 1998, 2005, 2010 I expect a break of the pattern resistance with further growth to these targets, but since a large liquidity area was formed below the support, the market may test this area before further growth. Regards R. Linda!
OANDA:XAUUSDLong
by RLinda
11
GOLD exceeds 2,000 USD/ounceToday's world gold price increased when the US manufacturing PMI index (an index measuring economic activity) dropped from 50 points to 49.4 points. This data makes investors believe that the US economy is weakening. Accordingly, they expect the US Federal Reserve (FED) to soon reduce interest rates in 2024 to promote economic growth. Immediately, the currency market had a certain reaction. The USD Index dropped to 103.5 points, causing the USD to decrease in price compared to 6 other strong currencies, including: Euro, JPY, GBP, CAD, SEK and CHF. Therefore, the world gold price last night had the conditions to rebound and surpass the resistance level of 2,000 USD/ounce. However, because the interest rate on 2-year US bonds increased to 4.95%, 5-year and 10-year bonds increased to 4.5% and 4.48% respectively, it attracted cash flow in the market, preventing hindering the increase in gold prices.
OANDA:XAUUSD
by Xayah_trading
XAUUSD Excellent sell opportunity next weekGold / XAUUSD delivered earlier this month (chart at the bottom) an excellent sell opportunity that emphatically hit our 1935 target. This week the price rose back to the October 27th High, which is the obvious Resistance. As long as the 1day candles close under the Resistance, we will treat them as a Double Top formation, hence a sell opportunity. On top of that, previous similar bullish sequences in 2023 targeted the 0.618 Fibonacci level after the 0.382. Basically the current pattern is quite similar to April's. Even the 1day MACD that formed a Bearish Cross to target the 0.382 Fibonacci, is now on a squeezed flattened pattern like May 4th. Sell on next week's opening and target 1890 (Fibonacci 0.618). Previous chart: Follow us, like the idea and leave a comment below!!
FX_IDC:XAUUSDShort
by TheCryptagon
2
GOLD What will happen in the near future!!Gold is in a large ascending triangle on the weekly time frame and also at C&H if it follows these patterns we would have seen gold's biggest historical rally. 🤑Stay awesome my friends. _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ ✅Thank you, and for more ideas, hit ❤️Like❤️ and 🌟Follow🌟! ⤵️⤵️⤵️⤵️⤵️⤵️⤵️⤵️⤵️⤵️⤵️⤵️⤵️⤵️⤵️⤵️⤵️⤵️⤵️⤵️⤵️⤵️⤵️
COMEX:GC1!Long
by CobraVanguard
3
GOLD → Support retest and low volatility is expected OANDA:XAUUSD may be low-volatility on Thursday ( today ) and form a narrow range as it is Thanksgiving Day in the US and in Canada, which I would like to congratulate the people of these two countries!!! Moving on to gold : The market continues to test the 1984 area. False breakdowns, prolonged trading in this area indicates that buyers and sellers are fighting for this area. A prolonged consolidation of the price above 1984 will form a bullish potential, which will indicate medium-term prospects for us. The TVC:DXY will stand still today, which will affect the forex market accordingly. Gold makes a false break of the local support 1994 and bounces from 0.5 fibo, but the important liquidity area has not been tested yet. It is likely that the dollar may continue to strengthen slightly on Friday, while gold may go lower to 1984 or trend support, but the fundamental background is still on the side of gold and we are still waiting for the continuation of the rise. Support levels: 1993, 0.5 fibo, 1984 Resistance levels: 1998, 0.236 fibo Today the price will trade within the narrow range of 1998 - 1993, 1990. A range trading strategy can be used for trading. Do not consider gold for medium-term selling at the moment, there is no reason to do so, the market is still technically and fundamentally strong for growth. Regards R. Linda!
OANDA:XAUUSDLong
by RLinda
10
GOLD | Cautious Above $2000 on Thin, Holiday Affected TradingOANDA:XAUUSD ANALYSIS - Gold expected to underwhelm this Thanksgiving weekend amid thin trading - XAUUSD reveals an aversion to trading above $2000 as ceasefire tests safe haven appeal - USD and Treasury yields remain a factor as markets lower expectations of rate cuts next year OANDA:XAUUSD EXPECTED TO UNDERWHELM THIS THANKSGIVING WEEKEND Gold prices rose in early trading but failed to capitalize on the move as activity is expected to remain light this Thanksgiving weekend. Gold has struggled to surpass the $2000 level, with two unsuccessful attempts at reaching $2010. Yesterday, a slight increase in the dollar weighed on gold prices after initial jobless claims for November fell short of expectations. Despite weaker US fundamental data in recent weeks, the labor market remains strong. The ceasefire between Israel and Hamas is now a major concern for gold, as it could lead to further agreements and aid in the affected areas. The weekly chart highlights the recent difficulty to surpass the $2010 level but still reveals the bullish trend remains intact. However, the recent swing low and the inability to mark a higher high, hints at a period of potential consolidation as the RSI heads lower. USD AND YIELDS TO PLAY FURTHER ROLE AFTER MARKETS LOWER RATE CUT EXPECTATIONS FOR 2024 Following lower-than-expected US CPI data, the US dollar and Treasury yields declined, leading to speculation about the timing and scale of rate cuts in the coming year. Initially, market expectations were as high as 100 basis points worth of hikes, despite the Fed's forecast of 50 bps. However, stronger labor market data has tempered those expectations to a 25 bps cut, resulting in a projected 85 bps by the end of next year. Gold typically moves inversely with the dollar and US yields, which represent the opportunity cost of holding the non-interest-bearing metal. FORECAST OANDA:XAUUSD Over the past five years, gold has seen an average gain of 2.7% from Thanksgiving to December 31. In addition to seasonal trading, geopolitical tensions, especially developments in the Middle East, and the possibility of further banking crises in the US and elsewhere are fundamental drivers of support for gold. This precious grade has momentum to maintain prices above $2,000/ounce for the remainder of this year. However, precious metals are lacking a catalyst to increase prices. The gold market is in a positive macro mode and is growing; however, there is no strong buy signal. It is possible that the market is in a spiraling and volatile model with a narrow range and is waiting for a new catalyst to break out.
OANDA:XAUUSD
by TVS-Trader
GOLD goes below the threshold of 2,000 USDWorld gold prices increased slightly this morning with spot gold increasing by 2.5 USD to 1,992.1 USD/ounce. Gold futures last traded at 1,993.3 USD/ounce, up 0.5 USD compared to yesterday morning. The USD turned down in the context of US 10-year Treasury bond yields falling to their lowest level in 2 months. The US Dollar Index (DXY) measuring greenback fluctuations with 6 major currencies (EUR, JPY, GBP, CAD, SEK, CHF) decreased 0.17%, reaching 103.75. Gold prices have had a pretty good "performance" when exceeding the threshold of 2,000 USD/ounce a few times. Although the world gold price has not been able to maintain this price level, it will not take long for it to rise as the market increasingly expects the US Federal Reserve (FED) not to raise interest rates further.
OANDA:XAUUSDShort
by Xayah_trading
GOLD | $2000 Level Leaves the Door Open for a Move LowerOANDA:XAUUSD PRICE FORECAST: - Gold Rally Loses Steam at the Psychological $2000/oz Level. - DXY Rally Continues as Treasury Yields Rebound as Well all Working Against the Rally in Gold Prices. - US Heading into the Thanksgiving Break Means Low Liquidity Tomorrow and Potentially Friday as well. Gold prices continue to find acceptance above the $2000/oz a step to far. Yesterday saw an aggressive push above the resistance level only foe the Daily Candle to close back below the psychological level. Another attempt today was met with some strong bearish pressure as Gold surrendered its daily high to trade around $1993/oz at the time of writing. US DATA AND TVC:DXY RECOVERY The Fed minutes did little to excite markets yesterday largely due to the recent spate of US data showing positive signs. However, the overall mood remains a bit more tentative following hawkish comments from ECB and BOE policymakers keeping market participants on edge. Of more importance however has been the recent bounce in both US Treasury Yields and the US Dollar Index finding support. This has allowed Gold bears an opportunity to pounce and keep Gold prices from exploding above the $2000/oz mark. US Data today had mixed results. Durable Goods Orders for November fell short of forecast, and October's figures were downgraded to 4%. This suggests that the strong demand seen in the US in 2023 may be tapering off. Although Michigan Consumer Sentiment exceeded expectations, it was significantly lower than the October reading. This indicates a continuing downward trend since July and reflects lingering pessimism about the US economy. With the US Thanksgiving Holiday approaching, there will be no major US data releases for the rest of the week. This could lead to volatility as market participants take profits and adjust their positions ahead of the break. Alternatively, Gold prices may weaken toward the end of the US session as liquidity decreases. TECHNICAL OUTLOOK OANDA:XAUUSD Form a technical perspective, Gold continues to throw up slightly mixed signals. It did appear that we had shifted back into bullish structure but following the rejection we are seeing today, this would hint at a new lower high which of course is bearish price action. If the rejection of the $2000/oz mark gathers steam, then immediate support around $1983 may prove a challenge as we saw earlier this week on the daily timeframe. All in all, not the easiest to break down from a technical perspective at the moment. Smaller timeframes may be best for those looking for opportunities during the rest of the week with liquidity also expected to be low owing to the Thanksgiving break. Key Levels to Keep an Eye On: Resistance levels: 2000.00 - 2008.00 - 2025.00 Support levels: 1983.00 - 1968.00 - 1950.00
OANDA:XAUUSDShort
by TVS-Trader
GOLD → Beginning of correction, possible test of support OANDA:XAUUSD forms another micro rally on Tuesday. On Wednesday, the price tries to test the high but fails to reach the area amid a strengthening TVC:DXY ahead of the news. Several important news are published today, I am interested in Initial Jobless Claims - as one of the inflation indicators. Analysts expect a slight improvement in this indicator, which may strengthen the dollar in the short term. But as we remember, the last 3 times the data was worse than the previous one. If they are better than expected, gold will show a slight correction and vice versa. From the last FOMC meeting: Fed members are not ready to cut the rate yet, but there is a high probability that they will not raise it again. From a technical analysis point of view: Gold looks quite strong despite the indicators data, we are judging on a fundamental basis. High interest, weakening dollar and geopolitical basis suggest further price growth. The 1984 level still plays an important role for the market. At the moment the price is in the range of 2004-1993-1984. Since today's retest failed to update the high, the price is forming a correction. The market is aiming to test the nearest support. We highlight several most important scenarios regarding the overall situation: The main sense of which is either consolidation or retest of resistance after a small correction. But in the long term, I expect a breakout of the local resistance and the direction of further growth towards the global targets. Support levels: 0.236 fibo, 1993, 0.382 fibo, 1984 Resistance levels: 2000-2004 I am expecting a correction and news data that may determine the short to medium term outlook. I still see gold as an asset that can strengthen its price in the near term. Regards R. Linda!
OANDA:XAUUSDLong
by RLinda
11
GOLD turn downWorld gold prices decreased slightly in this morning's trading session. Spot gold fell to 1,989.6 USD/ounce, down 8.1 USD compared to yesterday's trading session. Meanwhile, gold futures decreased by 9.8 USD, to 1,991.8 USD. Gold is under slight selling pressure after the US labor market unexpectedly improved with a decrease in the number of unemployment benefit applications. The latest data on the labor market helped the USD and US Treasury bonds recover, while pushing gold prices away from the important threshold of 2,000 USD/ounce. Previously, gold prices reached a 3-week high of 2,007.29 USD/ounce. However, gold prices are still supported by the current macroeconomic context. Falling inflation and the market's expectation that the US Federal Reserve (Fed) will soon complete its interest rate hike cycle are factors that increase the appeal of gold.
OANDA:XAUUSDShort
by Xayah_trading
Bullish in the long-term, but not so bullish in the short termDespite our expectations for gold to continue slightly lower, it rebounded from around $1,940 to more than $2,000 per troy ounce. While this move is impressive, it is important to note that gold has been rising together with the stock market. As a result, we are again skeptical about its prospects of retaining the current price tag (especially if the stock market starts reversing from the current heights). With that said, we remain bullish on gold in the long term. However, we think gold will likely stay choppy in the foreseeable future. Illustration 1.01 Illustration 1.01 portrays the daily chart of XAUUSD and simple support/resistance levels. Technical analysis Daily = Slightly bearish Weekly = Neutral Please feel free to express your ideas and thoughts in the comment section. DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not be a basis for taking any trade action by an individual investor. Therefore, your own due diligence is highly advised before entering a trade.
OANDA:XAUUSDShort
by Tradersweekly
4
GOLD | Setting Up for the Next Leg Higher?OANDA:XAUUSD ANALYSIS, PRICES, AND CHARTS - US dollar weakness may be put on hold ahead of the Thanksgiving Holiday - The technical set-up for gold looks positive. The FOMC meeting minutes will provide more insight into the Fed's future plans. Markets believe that interest rates have reached their highest point and will be reduced next year. Chairman Powell has expressed confidence in the Fed's success in combating inflation. He also stated that the US central bank is prepared to raise interest rates if necessary. However, market expectations are for a 100 basis point decrease in US interest rates by the end of next year, with a 25 point cut expected at the May 2024 meeting. With the market now backing the view that rates are not going any higher, the US dollar has been moving lower. The US dollar index has shed four points since the beginning of November and broken through a number of layers of support with ease. If the DXY is unable to reclaim the 200-day simple moving average, further losses are likely. OANDA:XAUUSD PRICE TECHNICAL ANALYSIS In contrast to the US dollar, the technical outlook for gold looks positive. After selling off over the last three weeks as markets turned risk-on, the precious metal is now looking at the US interest rate space and pushing higher. Gold is trading above all three moving averages and is back above the 0.5% Fibonacci retracement level at $1,976. The recent $2,007/oz. high is the next target for bulls. Support is seen at $1,976/oz. ahead of $1,960/oz. Financial markets as a whole are expected to quieten down after Wednesday as the US celebrates Thanksgiving Day on Thursday before the annual Black Friday event. This liquidity drain will weigh on volatility going into the weekend.
OANDA:XAUUSDLong
by TVS-Trader
GOLD increased beyond 2,000 USD/ounceDuring the trading session lasting from last night to early November 22, the spot price of gold on the international market experienced a fierce increase, breaking the resistance threshold of 2,000 USD/ounce to reach 2,007 USD/ounce. . Gold price today has cooled somewhat, trading at 1,998 USD/ounce Gold prices today fluctuate strongly due to the decline in US bond interest rates - to 4.4%/year. Since then, investors criticized bonds and shifted money to precious metals, creating momentum for today's gold price to increase dramatically. Gold prices are trying to stabilize above 2,000 USD/ounce. Falling US bond interest rates are supporting world gold prices towards the resistance zone of 2,015 - 2,025 USD/ounce. The highlight of the gold market is the November minutes of the Federal Open Market Committee (FOMC - US) which will be published at the end of November 22. Accordingly, investors will look for more clues about US monetary policy. Currently, inflation and the labor market in the US have cooled, while the country's economic activity shows signs of weakening. Therefore, financial investors increasingly expect the US to reduce interest rates in 2024. At that time, the value of the USD will decline, benefiting world gold prices.
OANDA:XAUUSDLong
by Xayah_trading
Gold: Rehabilitation 🏋️‍♂️The gold price seems to be recovering at the moment and is gradually making significant gains. We expect it to continue its corrective rise within the magenta wave (b) to the same-colored Target Zone between $2123.60 and $2147.10. An important step on this path will be to overcome the high of the magenta-colored wave alt.(x). As long as the price has not succeeded in doing so, the 40% probable alternative remains, which entails a direct descent.
COMEX:GC1!Long
by MarketIntel
XAUUSD Double Top Sell SignalGold (XAUUSD) is failing to break early into today's E.U. session above Friday's High, and that is so far a Double Top. If it holds, it will be a technical rejection sell signal and based on the similarities with the September 01 peak fractal (+3.65% rise, identical 4H RSI patterns), it can complete a drop even a little under the 0.236 Fibonacci retracement level. With the 1D MA50 (red trend-line) involved this time as the long-term Support and the 4H MA50 (blue) and 4H MA200 (orange) each offering its part as Supports the past 10 days, we will put our target a little higher at 1950. ------------------------------------------------------------------------------- ** 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 prices suddenly increased sharply todayWorld gold prices today (November 21) suddenly increased sharply when inflationary pressures in the US eased and the weak economy began to cool down. Analysts say that the US Federal Reserve (Fed) is not yet ready to change the trend of tightening monetary policy, which is making it impossible for hedge funds to access gold. Gold prices could reach $2,100/ounce despite recent data proving that the strength of the US economy shows signs of cracks. “The growth outlook will weaken significantly” starting in the fourth quarter of 2023 and continuing into the first half of next year. In the context of a recession, the Fed will have to cut interest rates more sharply than the market expected. That is the period when gold begins to set a series of new all-time highs.
OANDA:XAUUSD
by Xayah_trading
XAUUSD: Channel Up on 4H.Gold is neutral on its 4H technical outlook (RSI = 55.793, MACD = 4.760, ADX = 31.119) as it reached today the bottom HL trendline of the short term Channel Up. So far it is reacting with a bounce and that is a buy signal, aiming at the R1 level (TP = 2,002), as every rise sequence inside the Channel has been around +1.90%. Today's Low was supported on the 0.5 Fibonacci level also, so if it breaks, the bullish trend will be invalidated and we will sell, aiming at the 4H MA200 (TP = 1,950). Despite the presence of support levels such as the 4H MA50 and S1, in that case we expect the decline to be stronger, a very likely scenario indeed since the 4H RSI displays a Bearish Divergence, similar to the Bullish one that gave the buy signal on November 13th. 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:XAUUSD
by InvestingScope
GOLD | Reversing to the downside, support factors still remainMARKET FORECAST AHEAD OF THE WEEK: OANDA:XAUUSD - US Treasury yields have fallen in the past few days, putting pressure on the US dollar - Meanwhile, gold prices breached key technical levels on the way higher - Several high-impact events are expected in the coming days, with a shorter trading week in the US due to the Thanksgiving holiday. US Treasury yields fell sharply last week after lower-than-expected US inflation data coupled with a rise in US unemployment claims all but ruled out the possibility of a central bank The US continues to tighten monetary policy, giving traders the green light to start pricing in more aggressive interest rate cuts. for the next year. The broader US dollar previously fell nearly 2%, with the DXY index sliding to its lowest since early September. Benefiting from falling rates and a falling US dollar, the precious metal rose more than 2%. .0% for the week, moving closer to reclaiming the psychological threshold of $2000. Looking ahead, the US economic calendar will be devoid of important figures in the coming days, with a shorter trading week due to the Thanksgiving holiday. The absence of prominent events could mean a consolidation of recent market volatility, paving the way for a deeper decline in yields and the US dollar. This, in turn, could lead to further price increases for precious metals and risk assets.
OANDA:XAUUSD
by TVS-Trader
1
GOLD reversing to the downside, support factors still remainLast week, the international financial market received a lot of negative employment information and retail sales in the US and UK, causing the USD to continue to decline. Specifically, this morning the Dollar-Index - measuring the strength of the USD in a basket of 6 major currencies - decreased by 0.07% to 103,850 points. The USD fell so last weekend investors stepped up their gold purchases. In particular, the world's largest gold trust fund SPDR last week's session bought a net 12.98 tons of gold in the session on November 17 alone. Increased demand pushed world gold prices last week up to 36 USD/ounce, equivalent to about 2% compared to the previous week's closing session. At the beginning of this week, the gold market was lacking economic information, so investors immediately took profits to recover capital and waited for more economic information. The market is lacking economic information, but Russia continues to be subject to new sanctions packages, which could increase geopolitical tensions in Ukraine. This may be a factor supporting the gold market during this period.
OANDA:XAUUSD
by Xayah_trading