#Gold Breakout update XAU/USD surges in a decisive breakout, breaching key resistance levels as bullish momentum accelerates—gold shines as the ultimate safe-haven asset amidst market volatility!..
Xauusdshort
ADP-NF Is there a chance for gold price to drop to 2605?⭐️Smart investment, Strong finance
⭐️GOLDEN INFORMATION:
Expectations that the Federal Reserve will take a cautious approach to rate cuts, driven by concerns that President-elect Donald Trump's policies could fuel inflation, are supporting a slight rise in US Treasury yields. This provides some strength to the US Dollar (USD) and may pose a challenge for Gold prices. However, XAU/USD remains supported by ongoing geopolitical tensions, uncertainty around Trump's trade tariffs, and fears of a potential second wave of global trade wars.
Traders are now awaiting the US ADP private-sector employment report and the ISM Services PMI for fresh direction in the market.
⭐️Personal comments NOVA:
Gold price narrows sideway zone 2640-2655, about to break the accumulation zone with ADP NF data this week
⭐️SET UP GOLD PRICE:
🔥SELL GOLD zone: $2664 - $2666 SL $2669 scalping
TP1: $2658
TP2: $2650
TP3: $2640
🔥SELL GOLD zone: $2688 - $2690 SL $2695
TP1: $2680
TP2: $2670
TP3: $2660
🔥BUY GOLD zone: $2606 - $2604 SL $2599
TP1: $2615
TP2: $2628
TP3: $2635
⭐️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
Gold (XAU/USD) Market Analysis: Indicators Point to Potential DoGold (XAU/USD) Market Analysis: Indicators Point to Potential Downtrend
Several factors suggest that gold prices may experience a decline in the near term:
1. Technical Indicators:
• Moving Averages: Current analyses indicate a ‘Sell’ signal based on moving averages, reflecting bearish momentum.
• Oscillators: Indicators such as the Relative Strength Index (RSI) are neutral, while others like the Stochastic Oscillator point towards a ‘Sell’ signal, suggesting downward pressure.
2. Economic Data:
• U.S. Economic Growth: The U.S. economy grew at a 2.8% annual rate in the third quarter, driven by strong consumer spending and increased exports. This robust growth reduces the appeal of gold as a safe-haven asset.
• Manufacturing Orders: In October, U.S. factory orders rose by 0.2%, the first increase after two months of decline, indicating a potential stabilization in the manufacturing sector.
3. Federal Reserve Policies:
• Interest Rate Outlook: The Federal Reserve’s regional survey reflects slight economic growth, with stable employment levels and modest price increases. This may influence the Fed to maintain or adjust interest rates, impacting gold prices.
4. Market Sentiment:
• U.S. Dollar Strength: A stronger U.S. dollar makes gold more expensive for holders of other currencies, potentially leading to a decrease in gold demand and prices.
• Geopolitical Factors: Recent geopolitical developments, such as cease-fires in conflict regions, can reduce demand for gold as a safe-haven asset, exerting downward pressure on prices.
Considering these factors, there is a potential for gold prices to decline in the near term. However, market conditions can change rapidly, and unforeseen events may alter this outlook. It’s advisable to monitor real-time data and news updates for the most accurate information.
Gold fluctuates within a range, how to operate?On the disk, the price bottomed out and rebounded to 2652 on Monday, and broke the high to 2655 on Tuesday. Although new highs continue to be reached, the actual increase is not large. On the daily line, yesterday closed with a cross Yang, and closed at 2643 at the end of the day. The downward momentum of the cycle indicator has slowed down with the stabilization of the support of 2633, and there is room for rebound on the daily line. In terms of 4 hours, the gold price was under pressure from the high of 2655 overnight, and the lowest reached 2635. The real price did not break the short-term moving average support, and the other moving averages of each cycle maintained a short position arrangement. The short-term indicators also started to explore downward, so there is still a risk of a decline in the 4-hour aspect. In short, while the new high is refreshed, it will also be the beginning of the layout of short orders.
In terms of intraday operation, it is recommended to focus on high altitude and supplement by low and long positions. For the lower support, pay attention to the 2633 area, which is the short-term 10-day moving average of the daily line. You can try to participate in long orders. If it is broken by the bears, pay attention to the 4-hour Bollinger Band lower track 2620. As for the upper resistance, pay attention to the 2666 area and participate in short orders, and focus on the 2675-2680 area, and start to arrange short orders.
Continue to short goldBros, today we shorted gold near 2647 with 2650-2655 as resistance according to the trading plan. The object closed the gold short position manually near 2636 and gained 100 pips, which is a good result.
Just now, gold rebounded from 2632 and has now reached 2657. I still shorted gold again near 2654 as planned. Although gold touched near 2657 during the violent fluctuations, it did not stand strong, so it did not prove the effectiveness of its breakthrough. Moreover, it also faced resistance in the 2660-2665 area above, so gold may face another correction in the short term, it will retrace at least to the 2648-2645 area.
So we can still try to short gold again in the short term, and I have already shorted gold near 2654. Wish us good luck! Bros, did you follow me to short gold? If you want to learn more detailed trading ideas and get more trading signals, you can choose to join the channel at the bottom of the article to make trading no longer difficult and make making money a pleasure!
Technical Outlook for Gold Price (XAUUSD) 4/12/2024 Technical Outlook for Gold Price (XAUUSD)
On the daily chart, gold remains in a prolonged consolidation phase, with price action mainly hovering around the 21-day Exponential Moving Average (EMA21) and the technical level of 2,644 USD.
Although gold has recovered from the previous decline, the overall picture still leans towards a bearish scenario, with the main trend being defined by the price channel (a). Additionally, pressure continues from the EMA21, and the Relative Strength Index (RSI) remains below the 50 mark. These factors create conditions for a bearish trend.
As long as gold stays within the price channel (a), its technical outlook remains biased towards a downward trend, and any upward movements should be considered short-term corrections.
On the other hand, if gold is sold below the 0.618% Fibonacci retracement level, it could continue to decline towards the next target range around 2,606–2,600 USD. Furthermore, a new bearish cycle would begin if gold drops below the key level of 2,600 USD.
For the day, the bearish technical outlook for gold is highlighted by the following key levels:
Support: 2,634 – 2,606 – 2,600 USD
Resistance: 2,644 – 2,663 USD
XAUUSD 1HR TIME FRAME HELLO TRADERXAU/USD 1-Hour Chart: A detailed analysis of gold's short-term price movements against the US dollar, showcasing crucial support and resistance levels, recent trends, and potential trading opportunities based on market momentum and price action...
Gold Price Analysis December 4Fundamental Analysis
Gold prices traded in a positive bias for the second consecutive day on Wednesday, despite lacking bullish conviction and remaining confined within the familiar range that has held for the past week or so. Traders appear reluctant at the moment, opting to wait for further signals on the Federal Reserve’s (Fed) interest rate cut path before placing any directional bets. As such, the market focus will remain on Fed Chairman Jerome Powell’s speech later today, along with Friday’s US Non-Farm Payrolls (NFP) report, which will guide policymakers on their next monetary policy decision.
Technical analysis
breaks the 2647 level once again Gold is heading towards the technical resistance level of 2655. Gold is still trading in the accumulation range waiting for Nonfarm, most likely today there will be no break out of the 55 and 2635 ranges. The sideways market is quite difficult for trend traders. Wait and see how the European session will fluctuate. If it cannot break 2651, you can SELL to 2643-2635. If the price pushes up to 55 but cannot break this area, this is the trading range that can be reported today.
Gold prices on the international market increased slowlyGold prices in the international market increase slowly due to large selling pressure every time gold moves up and the USD strengthens as Donald Trump's US presidency approaches.
Gold prices increased again mainly because of the previous strong downward adjustment and investors still expect a long-term upward trend of this precious metal product when the US and the world are entering a down cycle. interest rates to support economic growth.
It is expected that the US Federal Reserve (Fed) will reduce interest rates by another 0.25 percentage points at the December meeting and will reduce them several more times in 2025 and the bottom may fall in early 2026. When the Fed reduces interest rates interest rates, the USD will theoretically depreciate.
The prospect of a weaker USD has clearly decreased with new moves from Mr. Donald Trump. However, when countries step up pumping money and Mr. Trump also wants to intervene in the Fed to gain an advantage in trade, inflation in the US as well as around the world may escalate. This is a factor that is beneficial for gold.
#xauusd #elliottwave short sell setup wave 4 c 4Dec24This count is based on my assumptions so anything can happen not a trading or financial advice just for educational purposes only kindly do your own ta thanks trade with care good luck.
Gold Market Analysis 12/04Yesterday, gold tested the 2635 support multiple times without breaking below it. At one point, prices rose above 2650, which aligns with our expectations. During this consolidation, long positions were quite profitable.
Current Market Outlook:
The consolidation range is gradually narrowing, and today we are likely to see a breakout in one direction.
If prices break upward, the previous high around 2666 will act as a new resistance.
If prices break downward, gold could return to around 2625.
2628 remains an important support level to watch.
Key Factors to Monitor:
Technical Levels:
Support at 2635, 2628, and 2625.
Resistance at 2666.
Geopolitical Considerations:
Keep an eye on the situation in Syria. While the current geopolitical developments have not shown significant positive news for gold bulls, unexpected events could still have an impact on the market.
Risk management is crucial, especially with potential geopolitical volatility.
Risk Management:
Ensure appropriate stop-loss orders are in place, especially given the uncertainty in the geopolitical landscape.
Conclusion:
Gold is currently in a consolidation phase, and a breakout in either direction is imminent. Stay vigilant and adjust your strategy based on market developments and technical signals. Let me know if you have any questions or need further assistance!
Next, how to grasp gold trading and make money!Bros, today I shorted gold near 2650 according to the trading plan. Although gold once rose to around 2655 during the period, as gold fell sharply to around 2635 in the short term, it was obvious that our short position was closed by hitting TP: 2637. In this short transaction, I made a profit of more than $6K, which is a good trading result.
From the current gold structure, gold closed above 2630 many times during the decline. It can be clearly seen that a certain amount of buying support has accumulated in the 2635-2630 area; but in the absence of rebound strength, if gold cannot effectively break through the 2655-2665 area, gold is still in a relatively weak position.
Therefore, in terms of short-term trading, if gold cannot break through the 2655-2665 area, we can still continue to short gold based on this resistance area; but what we must be careful about when executing transactions is that once gold strongly breaks through the 2655-2665 resistance area, Gold may also continue to rebound to the 2670-2680 area.
Bros, do you know how to correctly grasp the rhythm of gold trading? If you want to learn more detailed trading ideas and get more trading signals, you can choose to join the channel at the bottom of the article to make trading no longer difficult and make making money a pleasure!
XauUsd Sell Limit OrderHi everyone. We have a strong pullback and I think this area can be a good place to set a sell order. Please consider the risk management and good luck.
Dear traders, please support my ideas with your likes and comments to motivate me to publish more signals and analysis with you.
Best Regards
Navid Nazarian
Trading Strategy and Risk ManagementAnalysis:
Today, the gold market is experiencing relatively stable volatility, as market participants await the release of key economic data later this week, particularly from Wednesday to Friday. These reports will have a direct impact on gold’s short-term price direction and provide important insights into market sentiment and capital flows in the coming days. Given that the market is currently in a wait-and-see phase, gold prices are likely to remain range-bound in the short term, lacking any significant trend breakout.
From a technical perspective, gold is currently facing resistance at the 2650 level and support at 2635. These two levels are likely to define the boundaries of gold’s price fluctuations. Based on this, the trading strategy for today is as follows:
Consider establishing short positions above 2650, as gold may face a pullback.
Consider establishing long positions below 2640, as there is potential for a price rebound.
Add to long positions near 2635, while closely monitoring the effectiveness of the support level.
Disclaimer:
The above analysis is for informational purposes only. Investment decisions should be based on individual risk tolerance and current market conditions. It is important to avoid blindly following signals or taking large positions, and to strictly adhere to risk management principles to avoid unnecessary risks.
Accumulation - bulls and bears dispute ! XAU sideway ⭐️Smart investment, Strong finance
⭐️GOLDEN INFORMATION:
Atlanta Fed President Raphael Bostic shared his views, expressing uncertainty about the need for a rate cut this month but supporting the idea of further reductions in the coming months. He emphasized that interest rates should reach a neutral level that neither stimulates nor restricts economic growth, noting that he remains open to all options.
Meanwhile, the CME FedWatch Tool indicates a 63% probability of a 25-basis-point rate cut, slightly lower than the 66% seen last Friday, suggesting the December 17-18 meeting will be a closely watched event.
⭐️Personal comments NOVA:
The sideway price range 2605 - 2666 will continue, with more accumulation waiting for NF news this week.
⭐️SET UP GOLD PRICE:
🔥SELL GOLD zone: $2649 - $2651 SL $2654 scalping
TP1: $2645
TP2: $2638
TP3: $2630
🔥SELL GOLD zone: $2666 - $2668 SL $2673
TP1: $2658
TP2: $2645
TP3: $2630
🔥BUY GOLD zone: $2617 - $2615 SL $2610
TP1: $2625
TP2: $2632
TP3: $2640
⭐️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
Gold technical analysis and operation strategiesTechnical analysis of gold: The gold daily line closed with a cross K-line again, and the contraction and consolidation of the fifth trading day, the daily line entered a blunted shock. And it is a consolidation correction after the big negative K-line fell, waiting for the break to open the range and move out of the direction. The recent trend of gold is consistent with the same law, with a sharp drop in the Asian session, a shock rebound in the European session, and a high fall in the US session. The overnight impact of the 2650 mark fell back as expected, and the daily line was in a weak shock after the huge negative. The weekly line 2790 evening star clearly peaked, and the monthly line closed with a negative K at a high level, successfully ending the nine consecutive positive rising pattern this year. From the perspective of wave theory, gold has now entered the main decline 3 wave stage. Combined with the weekly and monthly line trends, the decline in December is expected to continue. So today's operation is to keep a bearish view below the 2650 mark, and pay attention to the break of 2632 below. If it breaks, it will continue to test around 2620.
The downward trend line of the gold hourly chart is running, and the center of gravity is gradually moving downward. The current pressure is near 2646. Yesterday's market was able to close with a negative line, which was completely in line with technical needs, indicating that the suppression intensity in the upper 2650-60 area is very large, and the market has also returned to below the moving average band. There is a high probability that the decline will continue in the later period. Even if it is only weak fluctuations at present, if this fluctuation cycle is prolonged, it is possible to convert it into a downward relay pattern, which will still increase the possibility of returning to 2610-00 in the later period, or even breaking through and touching 2550-30.
Gold Updategold has retested the ascending channel so lets get into a sell position
dont forget to put a stop loss and calculate your risk guys its decemeber
follow us for more
XAUUSD Potentially BearishOANDA:XAUUSD topped out at almost 2800 and there after we have seen some consistent lower lows and lower highs. If price continues to hold around the 2650 area with some significant rejections, we just might see price creating a new lower high and potentially targeting the 2542 key zone area. Although we might see price dropping lower than that, I will rather lock in some profits when price comes to that zone
Always do your analysis before taking any trade. Past results does not guarantee future results
Gold price forecast in the near futureGold will come under further pressure if the US labor market remains strong, reducing the Fed's interest rate lowering cycle.
The gold market is concerned about some of President-elect Donald Trump's policies related to the strength of the USD in the upcoming term.
GDP growth at 3% and a lower trade deficit during Mr. Trump's term will not be affected by the imposition of tariffs and the weakening of the dollar. A weaker greenback will benefit gold.
Many analysts predict that gold's support price of 2,600 USD/ounce will still maintain and tend to increase from there. Gold price will reach 3,000 USD/ounce next year.
🔥 OANDA:XAUUSD SELL 2647 2649🔥
💵 TP1: 2635
💵 TP2: 2625
💵 TP3: OPEN
🚫 SL: 2656
XAUUSD Gold Next Possible move is 2759! Read Description Hello Traders!
Gold looks full bearish can hit 2559! We can see a rising wedge in high time frame (H4) also Elliott wave giving same target because B correct move has been completed and times to give C corrective move till 2559-2504 that is the possibility for Gold in the current situation!
Resistance: 2648, 2660, 2685
Support: 2638, 2620, 2597
Stop Loss: 2660
Tp 2622
Tp 2610
Tp 2570
Tp 2504
The bears have great selling pressure - the trend is DOWN⭐️Smart investment, Strong finance
⭐️GOLDEN INFORMATION:
Gold prices rose late in the North American session on Friday, gaining 0.67%, though still poised for a monthly loss of over 3%. Geopolitical uncertainty continues to influence the market, with the non-yielding metal fluctuating near $2,600. Currently, XAU/USD trades at $2,652 after touching a daily low of $2,634.
Tensions in the Middle East eased following a ceasefire agreement between Israel and Lebanon. However, both sides later accused each other of breaching the terms of the truce.
⭐️Personal comments NOVA:
If there are no surprises - war news breaks out, the gold price will return to its real value below 2600 by the end of 2024. The long-term technical chart is also supporting this
⭐️SET UP GOLD PRICE:
🔥SELL GOLD zone: $2657 - $2659 SL $2664
TP1: $2650
TP2: $2640
TP3: $2630
🔥BUY GOLD zone: $2607 - $2605 SL $2600
TP1: $2615
TP2: $2630
TP3: $2645
⭐️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
Israel's Shift to Syria and Its Impact on Gold PricesOver the weekend, the fighting between Israel and Lebanon paused, and Israel turned its attention to Syria, hoping to use this move to weaken the Russia-Ukraine war situation. However, as of now, the situation remains deadlocked, and Ukraine has not gained any significant advantage.
Many of you may not understand the connection between these events, but here’s a simplified explanation: Ukraine and Israel are in the same camp. While Ukraine has been facing difficulties in the Russia-Ukraine war, Russia holds over 80 strategic points in Syria. If Russia loses these, it would be a significant blow. So, Israel, as an ally of Ukraine, attacked Syria, hoping to help Ukraine gain an upper hand before a ceasefire, thus securing more significant benefits. However, up to now, things have not gone as smoothly as expected. Russia deployed troops to Syria, and in the process of attacking, they destroyed a command center of the four-nation alliance. Reports suggest that the leader of the Shams Liberation Organization may have been killed in the strike.
Due to the stalemate in the war, gold's price movement has been unclear. In this situation, the focus should be on the developments in Syria. If Israel gains the upper hand, the probability of gold rising increases significantly.
From a technical standpoint, the bulls currently have a slight advantage. Key support is at around 2635. As long as this support holds, the bullish momentum is likely to continue, and we may see a rapid rally at any time.
