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Gold (XAUUSD): 2 Scenarios For Next Week Explained 🟡 Gold is approaching an important horizontal daily support. Depending on the reaction of the price to that structure, I see 2 potential scenarios. Bearish Scenario If the price breaks and closes below the underlined green area on a daily, it will signify a strength of the sellers and a highly probable bearish continuation. Next target will be 1900. Bullish Scenario The price may also pull back from the underlined support. To confirm that, watch a falling wedge pattern on 4H time frame. If the price breaks and closes above its upper boundary, a bullish movement will be expected to 1977. Wait for a breakout, it will help you accurately predict the direction of the market next week. ❤️Please, support my work with like, thank you!❤️
FOREXCOM:XAUUSDLong
by VasilyTrader
17
Gold 15m TF I anticipate a favorable market response to occur within the price of 2031.08 to 2033.55, and there appear to be several potential opportunities to sell based on the following confluences: Moving Average, Reversal point, Decline Trend line, Incline Trend line, 0.618 bearish fib and Structure. Currently, Gold has experienced an increase of 1.6%, indicating the need for a pullback before it can make further upward movements. Gold miners have only seen a marginal increase of 0.06%. As such, I am anticipating a reversal in gold's performance within my area of interest.
TVC:GOLDShort
by ChartStrategist
Gold 4hr TF setup for CPI When considering CPI, a lower figure is preferred when buying assets such as gold, EUR, EURUSD, Cable, and indices. The weaker the CPI, the better it is for risk assets, especially those associated with hedging against the dollar. For instance, if there is a year-on-year 4.7% inflation and a month-on-month 0.2%, it would be ideal to buy indices and sell dollars because the data has outperformed. If the CPI is lower than expected, buying gold and selling dollars is a good option. Gold, GBP, EUR, and JPY are some of the assets that may be purchased in such a scenario. Indices such as S&P may move 30-40 points, while Wall Street may see a few hundred points move. Typically, any CPI figure before 4.8 or lower is considered a good data point. It is crucial to analyze the CPI figure excluding food and energy. Food and energy prices have rapidly increased in the last two years, making them an important outlier. However, we are starting to see food and energy prices normalize, and they have been coming down steadily over the last three to four months. If the CPI comes out at 5%, and food is at 5.5%, it is not a good number. The ideal situation would be to see continued decreases for six months. If there is a slowdown in one or two months, that is a problem. Currently, the Fed is still raising rates, which can aid in stabilizing prices. CPI inflation and rates are positively correlated.
TVC:GOLD
by ChartStrategist
XAUUSD - Choose SELL for todayGold price fell below the support of $1936.00 during Asian trading, after slipping beneath the $1952.00 cushion due to the US economy's approaching default. Technical indicators suggest a downside risk in the daily chart. The US Dollar found support due to positive macroeconomic data and the gloomy market mood. The currency remains strong, while the stock market ignores concerns about the US debt ceiling limit. Today, Gold is returning to retest the price zone around 1953$ before continuing its fall. The nearest target is back to 1935$ -1930$ I still choose the SELL beat for today. The previous Break Out and BUY strategy for GDP news is about to be completed.
OANDA:XAUUSDShort
by DNA_TradingFX
14
Gold's bottoming out is still volatile, and the US market is sti In terms of gold, yesterday again bottomed out to test the 1951 line, the US market counter-pumped closing T-shape, and the 1951 position, tested three times, were bounced up, located at the 60-day moving average position, forming a short-term support level. However, in terms of rhythm, the price broke the last rising point in the previous period, and the daily line was overcast, and at the same time broke the short-term moving average rhythm, at least a shock correction, and will not restore the bullish pattern. Therefore, before this point, the bulls cannot enter the safe area, which is not suitable for the planned layout of the middle line long order. In the short term, the bottoming out, the secondary support of 1951, can only indicate that this position is very supportive. But it does not mean that the fall stops, and this position has also become a watershed, in the break, the aforementioned position is coming. In today's trend, the white line in the weakness, the highest point is 1985, and the time point of the US market is the key. This trend has been emphasized to everyone before: close strongly, but do not look at Lianyang, then the European market must not break high, as long as the European market is suppressed below the previous day 1985, the US market will see a second fall. The pattern is similar to Monday's movement. That is to say, when the European market is still suppressed in the 1985-1965 range, then the US market looks at the second retracement. Of course, today if the 1985 pre-high is reversed, directly short, TP: 1960-62 Some wealth is planned, rather than always thinking about windfalls. Follow me, follow the right people, and work hard to reap the profits that belong to you.
FOREXCOM:XAUUSDShort
by DolphinDeal
Gold (XAUUSD): Your Trading Plan For Today🟡 Gold is currently testing a solid horizontal daily key level. After it was reached, the price started to consolidate within a narrow horizontal range on 1H time frame. To short with a confirmation, I would suggest waiting for a breakout of the support of the range. An hourly candle close below will confirm the violation. A bearish continuation will be expected to 1961 level then. If the price sets a new higher high, the setup will become invalid. ❤️Please, support my work with like, thank you!❤️
FOREXCOM:XAUUSDShort
by VasilyTrader
2
Gold (XAUUSD): Structure Analysis For Next Week 🟡 Here are important key levels for Gold for next week. Horizontal Key Levels Resistance 1: 1968 - 1984 area Resistance 2: 2000 - 2010 area Resistance 3: 2034 - 2048 area Resistance 4: 2064 - 2066 area Support 1: 1944 - 1956 area Support 2: 1934 - 1940 area Vertical Key Levels Vertical Resistance 1: Rising trend line Consider these structures for pullback / breakout trading next week ❤️Please, support my work with like, thank you!❤️
OANDA:XAUUSDShort
by VasilyTrader
8
GOLD will fall morepreviously gold made a huge down trend to 2036 are to 2005 area.because of the strength of the dollar had been increasing.So in that case we could expect a more dollar rejection to the upside .Dollar is going up means gold will fall.Not as vice versa but direction are completely opposite . on the other hand gold will rise fro a long term but we have to see the reaction of the gold in the range of daily channel if it breaks bellow gold should sell if it does not happen then gold will move higher again currently gold will test the lower trend line in daily time frame.we are only looking for selling opportunities because trend is our friend. Good luck
OANDA:XAUUSDShort
by rasindu2003
3
Gold Sell Incoming?we've broken out of a nice structure we've seen price consolidating in for some time now, our first area to target will be the 2002 area and then after we break through 1998 im looking for a continuation move to the Downside of the 1951 area if gold continues to move down we can look for the Previous Higher time frame Lows to be back tested and Respected as support! I will be keeping my eyes on this as we move into London tonight for possible ADD ON Entries
OANDA:XAUUSDShort
by therealbinarymaster