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Gold: $2,025 - After US Inflation, What's Next?Gold: $2,025 - After US Inflation, What's Next? Gold's short term prospects might be dependent on upcoming US inflation data for December. XAU/USD currently trades at $2,025, stepping back from an intraday high of $2,042. On Thursday, the US will release the Consumer Price Index for December. The market is expecting a 0.3% monthly increase in Core CPI, excluding volatile food and energy prices, in line with November. If the monthly core CPI exceeds 0.5%, it could push up US yields and weigh on XAU/USD. Alternatively, a softer-than-expected CPI reading may keep expectations for a Federal Reserve policy shift alive and perhaps help keep gold above $2,020. Technically, the 4-hour chart suggests a downside risk for gold, trading below its 20 Simple Moving Average at around $2,036. Conversely, the initial resistance for XAU/USD stands at $2050, where the 50- and 100-day SMAs are converging. The daily high on January 5 at $2063.98 might be the next level to keep an eye on to the upside.
BLACKBULL:XAUUSD
by BlackBull_Markets
Gold's DOWN cycle continues !! 1/9/2024⭐️ Smart investment, Strong finance ⭐️ GOLDEN INFORMATION: The price of gold (XAU/USD) is rebounding slightly below the mid-$2,000s in the early Asian session on Tuesday. There is a chance that the US Federal Reserve (Fed) will prolong its cautious approach, which could lead to some selling pressure on gold in the short term. However, gold traders will primarily look to the US Consumer Price Index (CPI) on Thursday for new inspiration. Currently, the gold price is trading around $2,030, up 0.14% for the day. ⭐️ Personal comments NOVA: The downtrend is even more obvious, with the actions of some funds taking profits on Gold above the $2000 price range. Gold continues to suffer negative impacts in early 2024 ⭐️ SET UP GOLD PRICE: 🔥BUY GOLD zone: $2000 - $2002 SL $1992 TP1: $2010 TP2: $2020 TP3: $2030 🔥SELL GOLD zone: $2048 - $2050 SL $2055 TP1: $2040 TP2: $2025 TP3: $2017 ⭐️ Technical analysis: Based on technical indicators EMA 34, EMA89 and support resistance areas to set up a reasonable SELL order. ⭐️ NOTE: Note: Nova wishes traders to manage their capital well - take the number of lots that match your capital - Takeprofit equal to 4-6% of capital account - Stoplose equal to 2-3% of capital account - The winner is the one who sticks with the market the longest
OANDA:XAUUSDShort
by Nova-Scalper
3
GOLD is expected to fluctuate slightly todayGold is poised to mark its first weekly decline in a month on Friday, as the U.S. dollar gains support from fading expectations of an early interest rate cut. Investors are eagerly awaiting a key employment report later in the day to glean further insights into the future of interest rates. The dollar index is on track to register its best weekly performance since July 2023, making the precious metal more expensive for holders of other currencies. The shift reflects the ongoing strength in the U.S. labour market, evidenced by Thursday's data revealing a larger-than-expected decline in new jobless claims and increased private sector hiring in December. Minutes from the Federal Reserve's meeting held on December 12 and 13 indicate a growing sense among policymakers that inflation is under control. However, there remains a high degree of uncertainty regarding expectations for interest rate cuts. This ambiguity has contributed to a cautious approach in the market. The decline in interest rates diminishes the opportunity cost of holding non-yielding assets like gold. According to the CME Group's FedWatch Tool, which monitors trader bets on interest rate movements, market expectations for a rate cut in March have dropped to 65%, compared to 90% the previous week. This shift reflects a reassessment of the economic landscape.
TVC:GOLDShort
by carefulLion07pab
Forming a short-term DOWN trend, correction⭐️ Smart investment, Strong finance ⭐️ GOLDEN INFORMATION: There is no important US economic news today, mainly based on technical analysis according to the Gold chart ⭐️ Personal comments NOVA: Prices are forming a downward wave pattern in the short term. According to fibonacci, Gold prices need a DOWN adjustment period to continue creating more liquidity for the market in early 2024. ⭐️ SET UP GOLD PRICE: 🔥BUY GOLD zone: $2047 - $2045 SL $2040 TP1: $2052 TP2: $2060 TP3: $2074 🔥SELL GOLD zone: $2074 - $2076 SL $2080 TP1: $2068 TP2: $2060 TP3: $2050 ⭐️ Technical analysis: Based on technical indicators EMA 34, EMA89 and support resistance areas to set up a reasonable SELL order. ⭐️ NOTE: Note: Nova wishes traders to manage their capital well - take the number of lots that match your capital - Takeprofit equal to 4-6% of capital account - Stoplose equal to 2-3% of capital account - The winner is the one who sticks with the market the longest
OANDA:XAUUSDShort
by Nova-Scalper
19
XAUUSDHello traders ,what do you think about GOLD ? In the 1-hour gold chart, we're observing a downward market momentum. The price is currently below the 50 EMA (Exponential Moving Average), reinforcing a bearish market structure. The price has now approached the 38% resistance level, coinciding with a downward trend line and a resistance zone, suggesting potential for a price decrease.Key to watch is the $2048 resistance zone. If this level holds, we could see an increase in gold supply, further fueling the downtrend.Today's critical economic indicators, which might indirectly impact gold prices through their effect on the US dollar, are the ADP Employment Report and the Unemployment Insurance Claims Index. These data points could provide insights into the dollar's strength, influencing gold's trajectory. If this post was useful to you, do not forget to like and comment.❤️
FOREXCOM:XAUUSDShort
by HAMED_AZ
7
Gold, Still unclearJust a quick snapshot of a SMALL piece of the previous analysis I did with one addition (yellow tag) Looking at gold as of present I'd be honest I cannot see why anyone would feel safe to buy at this time HOWEVER - I also cannot build a strong enough case for a SELL TRADE either as the momentum isn't that bearish to say that you can quickly enter and make some quick profits via a scalp type trade In my opinion looking at the turquoise zones (next zone where liquidity might be) I feel like I need gold to target and demolish those zones first before we see buy conditions return - and my reason for this is simple If gold had the liquidity to buy - IT WOULD BUY!, right? The fact that it isn't buying suggests that it doesn't have what it needs and is seeking it out. The real question is - "where might it find what it needs?" Enter turquoise zones lol - pay close attention to the bull trend over to the left (turquoise line). A bull trend in a bull market? It's almost like the dealer wants you to buy, it's so evil...it's genius! So induce buyers to buy, stop them out by selling below where they bought, and then actually buy? Maybe - What do you think? Downvote\Don't boost if you didn't try to take the time to read and understand this post OR Upvote\boost if you did try to take the time to read and understand this post If you genuinely disagree..I have no problem with a downvote, but please leave a comment as to why you think otherwise. This will allow all of us to grow and get better together Link to previous analysis is here - Godspeed folks
OANDA:XAUUSDShort
by Brandon_evo4
GOLD so far for 2024Hey guys good morning, what is up - happy New Year, I was supposed to produce an analysis yesterday but I had other business to attend to as I have other things I do to make money (let's be honest - it doesn't matter how good of a trader you are, it isn't safe to put all your eggs into THIS basket lol) That being said however I wish you nothing but success for 2024 and beyond. Let us begin the analysis on gold thus far Thus far on the m15 timeframe it seems that gold hasn't had much going on since my last trade mid December I will however say that gold in my opinion is still very much a bullish market - with this in mind however gold ISN'T buying - WHY? Let me explain.. So we know we cannot use the current monthly candle as there are literally 28 days left before that candle closes, anything can happen between now and the YEAR of January lol (for those of you who spent all their profits of last year over Christmas lol) The previous monthly candle however makes sense that it is consolidating because typically after a big push you will get the market go into a state of consolidation to begin the new cycle and by extension new trap Keep in mind however hold is still trading AT and I'd argue above the previous high that would have been broken (see image below) On the weekly timeframe we can see again we cannot yet trust the current weekly candle as it has a little while again before it closes - it does however suggest a bear move - I'd explain why I think this is possible shortly The previous weekly candle also speaks to a possible bear move - the fact that there is a heavy rejection on the previous weekly candle in a bull market doesn't make a lot of sense UNLESS the market CANNOT go up further without come back down for something first - maybe? right? Looking at the daily timeframe we can see that the last day for 2023 closed as a bearish day - why? maybe this is to induce sellers so that sellers can come in and push price lower But why? Why would the dealer want to have sellers become interested? Why would he want the seller to try to push price down? Because I believe there is something down below somewhere and the sell is to get price to achieve that level - that is the ONLY thing that makes sense to me The 4 hour is very interesting because looking at this green zone we can see over to the left there were a lot of sellers interested at that "resistance". They sold and sold until they were eventually stopped out - the buyers then quickly became interested. This makes sense as gold is a bullish market for sure. But then (presently) the buyers that recently became interested were stopped out by this bear push - I think however that gold isn't ready to resume buys yet because it is staying at this lower area a bit to long for my liking. Actually As I am typing this price is consistently pushing lower. The only thing would give me confidence that gold is ready to resume buys is if it heavily rejects the downside and in my opinion it hasn't arrived where the big chunk of liquidity is just yet (see next image) When you observe the 1 hour time frame we can see that there was a bull trend that formed over a few days - this would have surely induced buyers - in a bull market the market wants to buy (duhhh, obviously) but the question you have to ask is - "does the dealer want the buyer to win alongside him?" 11\10 times the answer to that question is a big FAT NO! So it makes sense to induce the buyer to buy then to stop them out by driving price lower back to hit their stop losses. The areas highlighted are where I think the next chunks of liquidity are trapped. We can possibly see price hit one of these areas before resuming the buy. The real question is - "do I think it is worth it to try to sell gold in hopes that it gets to one of these levels?" No, I don't think it is worth it. But not because of the market structure I have outlined here. More so due to the time of the year. I think the market is still pretty volatile from the holidays. I think waiting a few days to see what happens - at least if more momentum comes in first is the better play here. This shows not just I know what I want to see but it shows discipline as well. I am not to eager to find a trade. I prefer the trade to come to me Downvote\don't boost if you didn't take the time to read this entire post and you didn't try to understand OR Upvote\boost if you did take the time to read this entire post and you did try to understand Leave a comment telling me how you feel about the new year so far to let me know that you've read this entire post
OANDA:XAUUSDShort
by Brandon_evo4
Technical analysis shows that GOLD is likely to declineGold prices did not fluctuate much last Friday, basically oscillating around 2065, with an amplitude of $16, and finally closed with a Doji Star with long upper and lower shadows. It was a continuous trend from last Thursday. Recently, with the lack of crucial data and speeches, gold prices' volatility has fallen. The Red Sea situation continued to heat up last Saturday, and with the influence of geopolitics, gold prices could be supported. However, with optimistic rate-cut expectations to be adjusted, the overall gold price lacks direction, so it will mainly fluctuate! Looking at the technical chart, the current gold price is still under pressure in the resistance area of 2075-2080, which also indicates that gold prices do not have the momentum to break through that range in the short term. Judging from the 1-hour chart, the MACD golden cross began to widen, so a rebound can be seen at the hourly level. Investors need to watch for resistance near the MA60 around 2073. However, the MACD death cross in the 4-hour chart began to widen. It is estimated that gold has limited room for a rebound during the day. At the same time, the bearish divergence in the daily chart is prominent,so we do not recommend medium-term bullish investors buy gold now. Today, aggressive traders can still buy low and sell high in the range of 2055-2073.
TVC:GOLDShort
by carefulLion07pab
XAUUSD 4HR Analysis + Potential Trade IdeasPositive metals on the fresh weeks year open, with rising oil prices and increasing tensions across the world safe haven assets become more appealing to offsetting investors with our potential short idea invalidated for now i am now waiting for price action to reach 2075-87 before considering an entry for gold Once reaching the designated zone area I will be watching out for key volume exaustion to show potential signs of reversals with other confirmations such as overbought conditions, EMA crossovers, bearish price action and pivot OB creation along with quarter changeovers and key eco events. Then with the correct rejection off the key S+R we could catch some shorts to 2031 - 57 my projected pullback area
PEPPERSTONE:XAUUSDLong
by OfficialKieranTrewick