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XAU/USD Weekly Analysis: A Challenging Market AheadIt's been a challenging few weeks for XAU/USD traders, especially for those of us who prefer swing trading with larger targets. As a directional trader, I usually aim for 400-500 pips per trade, but the recent market conditions have tested my strategy. With the total range being only around 600 pips over the past couple of weeks, volatility has been limited from my point of view, making it tough to find those big moves. NFP Data and Gold’s Reaction: On Friday, the NFP data came in at 143K, lower than the market's expectations. This weaker-than-expected jobs number suggests that the Federal Reserve could feel more comfortable cutting interest rates in the near future, as economic data softens. Immediately after the release, gold initially rallied, touching a key resistance level at its previous all-time high. However, the bullish momentum didn't hold. Gold soon dropped after hitting this level, signaling significant resistance. Key Levels and Market Sentiment: As I’ve mentioned in previous analyses, the resistance zone that gold initially touched after the NFP release was critical for any continuation of the uptrend. Despite some initial volatility, the price fell below an interim support zone around 2505, and by the end of Friday's session, gold had dipped below the critical 2500 level. Technical Outlook: Bearish Signs on the Horizon? Looking at the daily chart, Friday's session closed with a bearish engulfing pattern, a strong bearish indicator. As I mentioned, it also closed below both the 2505 interim support and the 2500 key level. Zooming out to the weekly chart, we see the formation of a doji pattern, a classic sign of market indecision and potential reversal. This topping formation aligns with the bearish sentiment seen in shorter timeframes. Strategy for the Upcoming Week: With these factors in mind, I stayed out of the market on Friday, believing we are at a critical juncture. Moving forward, I plan to look for sell opportunities on rallies. The 2505 resistance zone, which previously acted as support, could offer ideal selling opportunities if gold retests this level. If the price continues to move lower and approaches the 2475 support zone, my expectation is that this level will eventually give way. In fact, my target for the next significant move in gold is between 2430 and 2440, where I believe the next major support lies. Conclusion: As we move into next week, the key will be to watch how gold reacts at these critical resistance and support zones. If bearish momentum continues, we could see further downside. As always, I’ll provide an updated analysis once the market opens on Monday. Stay tuned, and enjoy the weekend! Mihai Iacob
OANDA:XAUUSDShort
by Mihai_Iacob
3
XAU/USD Correction Nears End: Preparing for Further Downside?In my weekend analysis and yesterday’s video, I expressed the view that XAU/USD has turned bearish in the mid-term, with the potential for a drop below the 2475 support zone. After initially pulling back to the NFP low, the price rebounded and returned to my sell zone between 2505-2510 (as previously explained). However, this recovery from 2485 seems more corrective and overlapping in nature, lacking strong momentum. After reaching a local high near 2507, the price began to roll over again. Confirmation of a lower high and the end of this correction would come with a drop below 2500, which would once again expose the 2475 support zone. Additionally, a retest of this level could potentially lead to a break, bringing my mid-term target of 2440 into focus. At this point, I maintain my bearish outlook on gold and for the short term 2475 is my target.
OANDA:XAUUSDShort
by Mihai_Iacob
3
The world is optimistic, gold bounces strongly to the 2500 areaGold Price Forecast Experts expect that the opportunity of the Fed reducing hobby costs through 25 foundation factors is increasing, that could make gold charges prone withinside the close to time period. Ole Hansen, head of commodity method at Saxo Bank, predicts that the August jobs variety isn't always sufficient for the Fed to reduce through 50 foundation factors on September 18. This is not going to assist gold attain new highs. Christopher Vecchio, an analyst at Tastylive, predicts that regardless of short-time period volatility, withinside the lengthy time period, the treasured metallic will continue to be an appealing funding as worldwide authorities debt rises and hobby costs fall. --- XAUUSD sell 2515-2520 SL 2532 TP 2500 TP 2490 TP 2480 TP 2470 --- Buy/Sell Scenario: 🟢 Buy: * Break above 2529.27 with a full body candle close. * Retest of the bearish OB resistance line that failed on the 1-hour timeframe. * Formation of a bullish engulfing candle in the 5/15-minute timeframe to take advantage of a Buy opportunity towards 2550 and potentially higher. 🔴 Sell: * Retest of the bearish OB resistance line on the 1-hour timeframe at 2508.26. * Formation of a bearish CHOCH candle in the 5/15-minute timeframe with a full body candle close. * Retest of a bearish CHOCH candle to take advantage of a Sell opportunity towards 2470 and potentially lower.
OANDA:XAUUSDShort
by TheLeader_WOLF
Stick to shorting gold!Today we have made good profits in both long and short gold transactions. First, we shorted gold near 2498, and gold perfectly hit TP: 2488 during the decline; then we longed gold near 2492 and manually closed the order above 2496. A total profit of 140pips was made in both long and short gold transactions, which is a very good trading result! Today, gold fell back to around 2485 again, and then rebounded. The downward momentum did not continue, and there were signs of building a double bottom structure in the short term, proving that the 2485-2480 area still has some support for gold in the short term; however, from the perspective of the gold rebound structure, the gold rebound potential is weak, and as gold falls, the resistance area also goes down. The current short-term resistance of gold is in the 2505-2510 area. If gold cannot recover this area, gold will most likely continue to test the support near 2470. So in terms of trading, the relatively safe way is to short gold at high levels. In short-term trading, we can boldly short gold with the 2505-2510 area as resistance. I believe there will be a good profit! I share detailed trading strategies and trading signals every day. You can follow the channel at the bottom of the article to get detailed trading signals and learn trading logic. People who are already in it have already made a lot of money. Let us enjoy the journey of making money together. !
OANDA:XAUUSDShort
by alongwineer
Gold price continues to go sideways - adjusting downward⭐️ Smart investment, Strong finance ⭐️ GOLDEN INFORMATION: Gold prices (XAU/USD) reversed course from near-record highs and dropped below the $2,500 level after Friday's US jobs report. The mixed data lowered expectations of a 50 basis point rate cut by the Fed, leading to some US Dollar recovery and putting pressure on gold. However, fears of a US economic downturn and ongoing conflict between Israel and Hamas kept demand for safe-haven assets like gold steady. These factors, along with the potential start of the Fed’s rate-cutting cycle, caution against a bearish outlook for XAU/USD. ⭐️ Personal comments NOVA: Gold price adjusts to a short-term decrease - creating more liquidity for the expectation of price increase to create a new ATH ⭐️ SET UP GOLD PRICE: 🔥BUY GOLD zone: $2472 - $2470 SL $2465 TP1: $2480 TP2: $2490 TP3: $2500 🔥SELL GOLD zone: $2505 - $2507 SL $2512 TP1: $2498 TP2: $2490 TP3: $2480 ⭐️ 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
7
XAUUSD: Bearish Strategy Amid Resistance Levels Today’s bullish trades have been relatively smooth, with the price now hovering near a key resistance zone. From a technical perspective, if a breakout occurs, the next upside target would likely range between 2510-2518. However, if the price fails to break through this level in the near term, there is a high probability that we will see a move towards the 2452 support area later this week. Overall, the primary focus for this week remains selling at higher levels.
OANDA:XAUUSDShort
by Mia-Signal
1
XAUUSD: 2505-2500 resistance is not broken, boldly sellThe August NFP data released by the United States last Friday was 142,000, lower than the expected 160,000 and higher than the previous value of 89,000. At the same time, although the unemployment rate was in line with market expectations, it was actually the first decline in 5 months, which caused the gold price to rebound to 2529 and then fall to 2485. From the daily chart, the K-line decline this time is very similar to the previous decline. If we calculate the next three trading days according to the previous rules, it will fluctuate in the range of 2470-2505. We can sell high and buy low during this period. And after 3 trading days, it happens to be the node when CPI is announced. Therefore, from the perspective of trend and time, the probability of copying the previous market is also very high. Now the gold price is close to the resistance of 2500-2505. I have mentioned the support and resistance of this range countless times before. Everyone knows its importance. Therefore, if nothing unexpected happens today, I will sell near this range.
TVC:GOLDShort
by AntonyTP
XAU / USD ! 9/9 ! SIDEWAY continue to decreaseXAU / USD trend forecast September 9, 2024 According to the data, Fed interest rate probabilities fluctuated sharply. Based on CME FedWatch Tool data, at some point, traders priced a 50 bps cut with odds rising as high as 70%. Nevertheless, as the dust settled, market participants estimated that a 25 bps cut was more likely as the chances of it rose by 73%, while for a 50 bps cut they decreased to 27%. In the meantime, Fed policymakers crossed the newswire. New York Fed President John Williams said that lowering rates soon will help to keep the labor market balanced. Fed Governor Christopher Waller echoed some of his comments at a speech at the University of Notre Dame. He said, “The time has come” to begin easing policy and revealed that he was open to any size of easing. Based on H2, resistance and EMA 200 line to set up SELL signal /// SELL XAU : zone 2505-2507 SL: 2513 TP: 50 - 150 - 200 pips (2487) Safe and profitable trading
OANDA:XAUUSDShort
by Moon-ForexAcademy
2
Monday Market Analysis and SignalsGold fluctuated in a narrow range in the Asian market on Monday, now around 2497. Gold prices rose and fell last Friday, because the number of new non-agricultural jobs was lower than expected. Gold prices hit a three-week high of around 2529, approaching the historical high, but soon gave up the gains because the unemployment rate fell and the Fed's "No. 3" did not send a signal of a 50 basis point interest rate cut to the market, which made the market doubt the extent of the Fed's interest rate cut later this month. The lower-than-expected employment growth in August, in addition to the reduction in job vacancies indicating weakening demand, may also reflect a seasonal anomaly, that is, August employment growth is often lower than consensus expectations at first, and will be revised upward later. Affected by the decline in new jobs and Waller's speech, the US 10-year Treasury yield fell last Friday, hitting a 15-month low in volatile trading earlier in the session, which still provides some support for gold. This week will usher in the US August CPI data, investors need to focus on the performance of the data and pay attention to changes in market expectations. This week will also usher in the European Central Bank's interest rate decision, which investors also need to pay attention to. The vast majority of economists expect the European Central Bank to cut interest rates by 25 basis points at its meeting on September 12, and cut interest rates again in December. This may provide some support for gold prices, as rate cuts will reduce the cost of holding gold. Technically, the daily line fell again, and the weekly and daily RSI indicators still remained above the central axis. Secondly, the moving average system did not appear to cross and open downward. Overall, gold continued to fluctuate widely at high levels at the beginning of this week. In terms of operation, high-altitude is the main focus, and low-long is only short-term participation at this high level. Be careful of gold diving at any time. Trading strategy: 2478-2480 long, stop loss 2468, target 2500-2510; 2512-2514 short, stop loss 2519, target 2490-2480; Check out my profile for more free sharing and profits.
OANDA:XAUUSDShort
by Jun-goldFX
Key Levels and Targets for Gold Trading Following Friday's significant decline, gold's technical indicators are showing signs of recovery, suggesting a short-term buying opportunity at lower levels. The upper resistance zone is between 2508 and 2514, which appears strong based on current market conditions. The probability of a direct breakout above this zone is low. Therefore, if the price reaches this resistance area, consider short-selling opportunities. For this week, the initial short-term target for the downside is in the 2478-2472 range.
OANDA:XAUUSDLong
by Mia-Signal
XAUUSD / UNDER BEARISH PRESSURE - 4HXAUUSD / 4H TIME FRAME HELLO TRADERS overall , prices under bearish pressure until trading below turning level at 2,507$ The price level of $2,503 acts as a resistance, meaning that as long as prices stay below this point, the market sentiment remains bearish. A break below $2,490 confirms a downtrend because it indicates that sellers are in control, and the next lower support levels ($2,472 and $2,459) become targets for further declines. On the upside, breaking above $2,507 would suggest bullish momentum, as the price would surpass the initial resistance. If prices continue to rise and close above $2,519 on a 4-hour chart, it would confirm that buyers have taken control, signaling the potential for a move towards the next target of $2,531. KEY LEVELS : Turning Level : 2,507$ , 2,590$ . Resistance Levels : 2,516$ , 2,519$ , 2,531$ . Support Levels : 2,490$ , 2,472$ , 2,459$ .
OANDA:XAUUSDShort
by ArinaKarayi
1
Sellers are determined not to let Gold reach a new ATH✍️ NOVA hello everyone, Let's comment on gold price next week from 9/9 - 9/13/2024 🔥 World situation: Gold pulled back after failing to reach the all-time high of $2,531, dropping over 0.80% late in the North American session. Uncertainty over whether the Fed will cut interest rates by 50 or 25 basis points in September weighed on the metal, with XAU/USD now trading at $2,493 after peaking at $2,529. The US Nonfarm Payrolls (NFP) report for August missed expectations but showed improvement from July’s revised figures. The unemployment rate fell, and Average Hourly Earnings increased, adding complexity to the economic outlook. 🔥 Identify: 1 thing worth noting: 6 times the price of Gold touched the old peak area ATH 2527-2531, the price reacted very strongly. This shows that the momentum for price increase is still very strong, however, large funds and investors do not want the price of Gold to increase during this time, maybe after the interest rate cut Long-term time frames, technical aspects still show that Gold is developing stably, the main trend is Up We will soon see a new peak, a new ATH in late 2024 soon 🔥 Technically: Based on the resistance and support areas of the gold price according to the H2 frame, NOVA identifies the important key areas as follows: Resistance: $2505, $2530, 2559 Support : $2471, $2453 🔥 NOTE: Note: Nova wishes traders to manage their capital well - take the number of lots that match your capital - Takeprofit equal to 4-6% of capital account - Stoplose equal to 2-3% of capital account - The winner is the one who sticks with the market the longest
OANDA:XAUUSDShort
by Nova-Scalper
11
Strong level / best time to sell on correction from the level (all signals on real account ) The situation with gold (XAU/USD) is currently characterized by several key factors that affect its value. First, the gold price often reacts to changes in economic data and the political environment. The unpredictability of global financial markets, inflation, and changes in U.S. interest rates particularly affect the demand for gold as a safe haven. Second, there has been a recent increase in interest from central banks in gold holdings as they seek to diversify their foreign exchange reserves. This could lead to additional demand for gold in global markets. In addition, a strengthening US dollar usually has a negative impact on gold as it becomes more expensive for holders of other currencies. At the same time, geopolitical instability and conflict situations can contribute to the rise in prices for the precious metal as investors look for ways to protect their assets. At the moment, volatility in XAU/USD quotes can be observed, which creates both risks and opportunities for traders. Technical analysis shows important support and resistance levels that can influence further price movement.
FXOPEN:XAUUSDShort
by seventhlab
XAUUSD / TRADING SENSITIVE AREA - 4HXAUUSD / 4H TIME FRAME HELLO TRADERS The overall trend is downward , until trading around 2,526$ and 2,531$ The expectation of prices rising to $2,526 and $2,531 before dropping can be explained by resistance levels at these points, which often cause a pullback in prices. If gold remains below $2,531, the downtrend is likely to continue, supported by technical indicators showing declining momentum. The forecast of a drop to $2,507 is based on previous support levels where the price tends to stabilize. However, if gold closes above $2,531 on a 4-hour chart, it suggests a breakout, signaling a shift in sentiment and potentially leading to higher prices, supported by market momentum. The projection of reaching $2,540 and $2,551 aligns with historical price peaks and psychological levels that traders often target in a rally. KEY LEVELS : TURNING LEVEL : 2,507 . RESISTANCE LEVELS : 2,526$ , 2,531$ . SUPPORT LEVELS : 2,507$ , 2,475$ .
OANDA:XAUUSDShort
by ArinaKarayi
XAUUSD: SELL@2514-2528 Gold has a significant support level around 2488. If it breaks this level again, the price is likely to fall further to around 2452. Tomorrow's NFP (Non-Farm Payrolls) data will be released, and given today's ADP data being bullish for gold, there is a high probability that tomorrow's NFP data will also be favorable for gold, barring any unexpected outcomes. However, it is important to watch the market before the data release—if there is an early rally, there is a possibility that the price may see a brief spike after the data release, followed by a sharp decline. If the data comes in surprisingly negative and is bearish for gold, a short position can be taken directly.
OANDA:XAUUSDShort
by Mia-Signal
NFP Data: Key Trading Opportunities for Gold Gold has returned to around 2520, with resistance still quite evident. With only one and a half hours left before the data release, market volatility is expected to remain limited. Based on yesterday's data, the likelihood of today’s data being bullish is higher. There are two trading strategies to consider: The first is to go long before the data release, but keep a tight stop-loss to guard against a surprise bearish outcome. If there’s a profit, close the position promptly. I estimate that if the data is bullish, the price could rise by approximately $15. The second approach is to wait for the data release and then enter a short position, aiming for a medium-term trade. Given that the current price is already at a relatively high level, even if there is a spike after the data release, it will be challenging for the price to maintain a sustained upward trend.
OANDA:XAUUSD
by Mia-Signal