Gold remains bullish above 1935-1940 zoneLast week, after touching 1980 resistance zone for the second time, Gold reversed strongly, leaving a bearish engulfing candle on Thursday.
However, with the recent break above falling wadge's resistance and above the horizontal 1940 level, XauUsd remains bullish.
Buy dips near support is my strategy and 1980 zone resistance could be the target.
A daily close under 1935 would negate this scenario.
Xauusdsignals
XAUUSD 1D MA50 in Support but MACD Bearish Cross threat.Gold (XAUUSD) kept the 1D MA50 (blue trend-line) as Support as it made a Friday rebound exactly on it. At the same time the 1D RSI bounced on its Higher Lows trend-line since the June 29 bottom.
As long as the price is closing above the 1D MA50 (and obviously the 1943 Support that was formed), the trend is bullish towards the Lower Highs with a 1978 short-term target. In order to extend the uptrend, a 1D candle needs to close above Resistance 1 (1987.50).
The biggest bearish signal however is the Bearish Cross on the 1D MACD that is about to be formed. This means that if the price breaks below the Higher Lows trend-line, it will be a sell signal towards Support 2 at 1913. If the 1D MA200 (orange trend-line) supports on Support 2 and 3, the long-term bullish trend remains intact.
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XAUUSD | Price Action | New perspective | follow-up detailsWelcome, traders, to this week's XAUUSD price action-based technical analysis.
Gold prices experienced a decline as the dollar surged to its highest point in over a week. As we gear up for the upcoming central bank policy meetings, including the BOJ and the Federal Reserve, there's growing anticipation surrounding potential rate hikes.
All eyes are on the Fed's meeting next week, where a quarter-percentage-point rate increase is expected. Analysts eagerly await Chair Jerome Powell's press conference on Wednesday for hints about the Fed's future moves, especially regarding their goal of achieving a 2% annual inflation target amid a robust economy and tight labor market. Additionally, we'll be closely monitoring reports on second-quarter GDP and the personal consumption expenditure index, along with the latest reading on consumer sentiment from the University of Michigan.
As traders grapple with uncertainties about the Fed's path post-meeting, we find ourselves at a critical juncture from a technical standpoint. The XAUUSD price hovers around the crucial confluence near the $1,960 zone.
XAUUSD Technical Analysis:
In this video, we embark on an in-depth analysis of XAUUSD's price action, focusing on intricate patterns of accumulation and distribution. By dissecting past price movements, interpreting market behaviors, and identifying recurring trends, we'll gain invaluable insights into the motivations and actions of both buyers and sellers.
Our attention is drawn to the key level at $1,960, which holds tremendous importance for the week ahead. It serves as a pivotal focal point, and the reactions witnessed within this zone, particularly in light of upcoming high-impact economic events, will be indispensable in guiding our precise trading decisions.
Together, let's replicate the triumphs of the previous week and prepare ourselves to seize the opportunities that lie ahead! With my updates and comprehensive analysis, you'll be equipped with the necessary tools to make well-informed and strategic trading choices throughout the week.
The stage is set, the spotlight is on, and the thrilling drama of the gold market awaits your presence. Stay tuned in and get ready to embark on this adventure with confidence and finesse! Happy trading!
Disclaimer Notice:
Please be aware that margin trading in the foreign exchange market, including commodity trading, CFDs, stocks, and other instruments, carries a high level of risk and may not be suitable for all investors. The content of this speculative material, including all data, is provided by me for educational purposes only and to assist in making independent investment decisions. All information presented here is for reference purposes only, and I do not assume any responsibility for its accuracy.
It is important that you carefully evaluate your investment experience, financial situation, investment objectives, and risk tolerance level. Before making any investment, it is advisable to consult with your independent financial advisor to assess the suitability of your circumstances.
Please note that I cannot guarantee the accuracy of the information provided, and I am not liable for any loss or damage that may directly or indirectly result from the content or the receipt of any instructions or notifications associated with it.
Remember that past performance is not necessarily indicative of future results. Keep this in mind while considering any investment opportunities.
Will Hedge Funds Turn to Gold Post Fed Rate Hike? Prudent Move?As we all know, the Federal Reserve's decision to raise interest rates has far-reaching consequences for various asset classes. Historically, Gold has often been perceived as a haven during economic uncertainty. With the Fed signaling a more hawkish stance, it's worth considering whether hedge funds will flock to this precious metal again.
While the Fed's rate hike may initially drive investors towards more traditional assets, such as equities or bonds, it's essential to acknowledge the inherent risks and uncertainties. The global economic landscape remains fragile, with geopolitical tensions, inflation concerns, and the ongoing pandemic posing significant challenges. In such times, adopting a cautious approach and diversifying one's portfolio to mitigate potential risks is crucial.
With its intrinsic value and historical role as a hedge against inflation and currency fluctuations, Gold has proven its worth time and again. It has the potential to offer stability and act as a safeguard against unforeseen market downturns. As hedge funds reassess their investment strategies in light of the Fed's actions, it may be prudent to consider Gold's role in protecting and preserving wealth.
Therefore, I encourage you to contemplate the benefits of including Gold in your investment portfolio. While past performance does not indicate future results, history has shown that Gold can weather economic storms and provide a reliable store of value. By diversifying your assets and exploring Gold as an option, you can potentially mitigate the risks of a worsening economy.
In conclusion, as the Fed's rate hike reverberates through the markets, we must remain vigilant and proactive in our investment decisions. Considering our uncertain times, it may be wise to reevaluate our strategies and explore the potential advantages of investing in Gold. By doing so, we can position ourselves to navigate any possible economic downturns that lie ahead.
If you wish to discuss this further or explore gold investment opportunities, please comment below.
Stay cautious, stay informed, and let us navigate these turbulent waters together.
XAUUSD at the bottom of its 3 week Channel Up.Gold (XAUUSD) broke below the 4H MA50 (blue trend-line) and hit today the bottom of the 3 week Channel Up pattern that has been in effect for the whole month of July. This is a short-term buy signal as the 4H RSI is also on the same level it was on the July 06 Higher Low.
The lowest risk entry will be after the RSI breaks above its MA trend-line (yellow), as this has been a confirmed buy signal in at least the past 2 months. When it does, we will take a short-term buy and target 2015 (below Resistance 2 but Higher High for the Channel Up).
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XAUUSD: Summary this week and analysis next week
This week's market is over, during which time our signals were very accurate and we made a good profit. Next week, the precious metals market will usher in the Federal Reserve interest rate resolution, followed by Powell's speech, these news will bring big fluctuations, and the wonderful continue next week, everyone continues to pay attention to, must stabilize returns
The US index rebounded in a volatile week, the Fed's decision to raise interest rates next week is expected to support the dollar recovery, the next week, the market will usher in a super week of central bank meetings. The Federal Reserve, the European Central Bank, the Bank of Japan and the Bank of Canada will all release their latest decisions. On the economic front, attention will be focused on the preliminary U.S. second-quarter GDP and initial jobless claims data on Thursday, and the final University of Michigan consumer sentiment index for July on Friday
Join me and don't let procrastination and hesitation stop you from making money!
XAUUSD:Short-Term Focus 1970-1985
Yesterday was negative, so the short-term is a stagflation rhythm, but if it goes directly to V and reverses the decline, the price should rebound again at the key support. The high point of the second rebound is lower than the previous high and then falls again. It can be confirmed that the stage top appears, which is consistent with the structure formed by the previous bottom. The short-term price focuses on the 1970-1984 range
More analysis and signals will be updated in time, and interested friends can keep up.
XAUUSD Outlook 21/7/23 Weekly is still bull 📈Good evening gold gang! WHAT A WEEK! .. grabbed some amazing pips today in both sessions. Congratulations if you caught them with me on my analysis.
Last day of the week lets go!!
Weekly candle is still bullish! im still expecting that 1993 to be hit either tomorrow or early next week. So buys are on the menu tomorrow
Only thing to look out for is the messy range marked in the yellow box. Thats the no trade zone for me as there are way too many wicks in there. Wait for the breakout
I have just seen whilst writing this, that tomorrow is a no news day!! UGH! .. we may not reach the dizzy heights of 1993 until next week now as im not sure there will be much volume
saying that, fridays are normally busy days, so lets stay hopeful
buys sells and reversal points are on the charts gang .. have a great evening and asian session for those partaking
do me a favour and follow along! i keep it real over here :)
catch you in london
your mate Tommy XAU
XAUUSD 1H SELL PROJECTION 21.07.23FUNDAMENTALS
* Spot gold
GOLD
rose 0.1% to $1,971.79 per ounce by 0119 GMT. Bullion gained nearly 1% so far this week.
* U.S. gold futures
GOLD
gained 0.2% to $1,973.80.
* The metal slipped on Thursday from a two-month high as the dollar and bond yields climbed on stronger-than-expected U.S. labour market data.
* The number of Americans filing new claims for unemployment benefits unexpectedly fell last week, touching the lowest level in two months amid labour market tightness and defying efforts by the U.S. Fed to slow demand.
Gold Could Reach $2000 - Load Up on Gold!As we all know, gold has always been a reliable and sought-after investment option, and recent market trends have only reinforced its significance. The critical support level at $1960 is a crucial turning point. With this group holding firm, it becomes increasingly likely that gold will soar to new heights, potentially surpassing the $2000 milestone.
You might be wondering why you should consider loading up on gold. Well, let me give you a few compelling reasons:
1. Safe-Haven Asset: Gold has long been considered a safe-haven asset, providing stability and security during uncertain times. With the ongoing global economic challenges and market volatility, gold remains a reliable hedge against inflation and market fluctuations.
2. Diversification: As traders, we understand the importance of diversifying our portfolios. Gold offers a unique opportunity to diversify your investments, reducing the overall risk and enhancing the potential for long-term returns.
3. Potential for Profit: With gold's upward trajectory, profit has significant potential. Capitalizing on this favorable market condition allows you to position yourself for substantial gains and take advantage of the upward momentum.
So, my fellow traders, here's the call to action - consider loading up on gold! Now is the time to seize this opportunity and potentially reap the rewards. With the support level at $1960 serving as a key indicator, it's crucial to act promptly and make the most of this bullish trend.
Remember, investing in gold is not only a smart move but also an exciting one. So, let's ride this wave of optimism and take advantage of the golden opportunity that awaits us!
Feel free to reach out by a comment if you have any questions or need further guidance on maximizing your gold investments.
GoldViewFX - Market UPDATEHey Everyone,
We got the break above the channel and 1976 which followed with a nice push up during Tokyo session allowing us to take profit for 50pips. However, the full gap to 1993 was not complete and now open.
Price has now dropped back into the channel breaking 1976 towards 1963. 1963 zone is also inline with the channel half-line and will likely provide support for a bounce. A break below the half line will see the channel bottom tested.
We will keep these retracement levels in mind when buying dips inline with the overall Bullish trend. Managing a tight risk allows us to manage the swings to fall back into the wave.
We will continue with our plans to buy dips and track the movement level to level using ema5 cross and lock on our Goldturn levels.
Our long term projection still remains Bullish but bearish level targets are due for correctional retracements.
BULLISH TARGETS
1963 - DONE
EMA5 CROSS AND LOCK ABOVE 1963 WILL OPEN THE FOLLOWING BULLISH TARGETS
1976 - DONE
AND POTENTIAL 1993 AT A PUSH.
BEARISH TARGETS
1948
1936
EMA5 CROSS AND LOCK BELOW 1936 WILL OPEN THE SWING RANGE
SWING RANGE
1917
As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Please don't forget to like, comment and follow to support us, we really appreciate it!
GoldViewFX
XAUUSD TOP AUTHOR
XAUUSD H1 - Short SignalXAUUSD H1
Sold off nicely yesterday as we pinned into our second resistance zone, priced at 1980 ish. First zone at 1964 got slaughtered. We saw a nice 50-80 pip rejection initially at our indicated resistance price, before then coming back up towards 1981 in recent trade.
Hoping we see more dollar strength in line with the above analysis, and therefore more downside pressure here on XAUUSD.
XAUUSD is trying to hold the 1D MA50. Huge rally if it succeeds.Gold (XAUUSD) eventually broke above the 2 month Channel Down and even made a candle closing above the 1D MA50 (blue trend-line) last week:
Currently the big development for buyers would be to hold the 1D MA50 and establish it as the new long-term Support. Based on both the 1D RSI and 1D MACD, Gold has alreayd formed a technical bottom similar to the February 27 2023 and October 21 2022 patterns. Assuming the long-term pattern is a Channel Up, this latest bottom is a technical Higher Low.
As a result, if the price breaks above Resistance 1 (1968.50), we expect a bullish extension first to Resistance 2 (2020) and then Resistance 3 and All Time High at 2080.
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XAUUSD:Short rallies today
Last week, it continued to oscillate in the 1950-1963 range. So far, the support around 1950 still exists, and the resistance is concentrated in the 1958-1963 range. In the case of a long-term sideways market without breaking, the probability of the market going down is relatively high. So the trade should be short rallies.
XAUUSD | Price Action | New perspective | follow-up detailsGold clings firmly to its coveted $1,900 handle!
The stage is set for an intriguing turn of events, especially in the wake of a milder-than-anticipated U.S. jobs report for June. This unexpected twist suggests a potential dampening of the Federal Reserve's hawkish stance as its policymakers prepare for their upcoming rate review in three weeks.
In the face of this economic backdrop, gold staged a remarkable rally following the Labor Department's revelation on Friday that June witnessed a lower-than-expected addition of 209,000 new hires, with revised figures for May at 306,000 (a downward adjustment of 33,000), the unemployment rate exhibited a decline from 3.7% to 3.6% in June. Moreover, average hourly earnings saw a mirrored increase of 0.4%, matching May's growth.
While the mid-week exerted pressure on gold, it emerged triumphant, holding firm above the $1,900 mark and even recovering some of its losses. This feat has set the stage for a potential surge in bullish momentum, teasing us with anticipation for the week ahead. The prevailing market sentiment remains unabashedly bullish, with traders seizing the momentary weaknesses as an opportune time to enter the market.
XAUUSD Technical Analysis (Price action):
In this video, we delve deep into a comprehensive examination of price action, as we carefully study accumulation and distribution patterns. By scrutinizing past price movements, decoding market behaviors, identifying recurring trends, and pinpointing significant support and resistance levels, we have unearthed invaluable insights into the motivations and actions of both buyers and sellers.
In this regard, we have placed particular emphasis on the key level at $1,930 which will serve as our yardstick for the upcoming week. This pivotal threshold holds the power to sway the direction of price action in the upcoming week, making it a focal point of utmost importance. The reactions observed within this zone, especially during the first half of the week, will serve as indispensable indicators, guiding our trading decisions.
Prepare yourself to seize the opportunity that lies ahead! Armed with my updates and precise analysis, you'll be equipped to make well-informed and strategic trading choices throughout the week. The stage is set, the spotlight is on, and the drama of the gold market awaits your presence. Stay tuned for an exhilarating journey that will empower you to navigate the labyrinth of trading with confidence and finesse.
Disclaimer Notice:
Please be aware that margin trading in the foreign exchange market, including commodity trading, CFDs, stocks, and other instruments, carries a high level of risk and may not be suitable for all investors. The content of this speculative material, including all data, is provided by me for educational purposes only and to assist in making independent investment decisions. All information presented here is for reference purposes only, and I do not assume any responsibility for its accuracy.
It is important that you carefully evaluate your investment experience, financial situation, investment objectives, and risk tolerance level. Before making any investment, it is advisable to consult with your independent financial advisor to assess the suitability of your circumstances.
Please note that I cannot guarantee the accuracy of the information provided, and I am not liable for any loss or damage that may directly or indirectly result from the content or the receipt of any instructions or notifications associated with it.
Remember that past performance is not necessarily indicative of future results. Keep this in mind while considering any investment opportunities.
Gold- Inflation data could provide the trigger for a breakAfter the dive under 1900 and the new attempt of a drop under this important figure last week, Gold was trading higher with dips clearly bought by bulls.
In my yesterday's analysis, I've written that a break of important 1940 horizontal resistance could follow such a price development and the overall idea is unchanged.
At the time of writing Gold is "playing" with this resistance and inflation data could provide the trigger for the break.
Eventual dips under 1930 should be bought and negation comes under 1915 low.
As for the target, the next obvious level of resistance is at the 1975 zone
GoldViewFX - MARKET UPDATEHey Everyone,
Yesterday we completed all our Bullish targets on the 1H chart idea and stated only the 4H chart target was left at 1963. This was HIT today and the level respected with perfection completing our 4H chart idea.
Price supported at the channel half line providing the push up hitting all the Bullish targets.
We are now testing a resistance structure and will either see a rejection here or ema5 cross and lock above this level will confirm the upper structure.
We will continue with our plans to buy dips and track the movement level to level using ema5 cross and lock on our updated Goldturn levels.
Our long term projection still remains Bullish.
BULLISH TARGETS
1936 - DONE
EMA5 CROSS AND LOCK ABOVE 1936 WILL OPEN THE FOLLOWING BULLISH TARGETS
1948 - DONE
1963 - DONE
BEARISH TARGETS
1917 - DONE
1899
EMA5 CROSS AND LOCK BELOW 1899 WILL OPEN THE SWING RANGE
SWING RANGE
1882
As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Please don't forget to like, comment and follow to support us, we really appreciate it!
GoldViewFX
XAUUSD TOP AUTHOR
XAUUSD long position signalHello Everyone. I want share my ide about gold for the week.
We have pretty bullish trend on low timeframe after touch weekly support at 1910.
At resistance LVL here is not aggressive seller which gave me signal for long position, it easy can brake that support and continue movement. at the moment is pretty good low of uptrend for open my position.
Good Luck Everyone.
Trend is your Friend.