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XAUUSD trade ideas

Impact of CPI Data Key level Predictions and Market Scenario Resistance: $2,710, with potential moves toward $2,705 if bullish momentum continues. Support Levels: $2,683 and $2,687 XAU/USD could break above key resistance at $2,700 and aim for $2,710 or higher in intraday trading. Impact: A softer CPI print, indicating slower inflation, could bolster expectations of Federal Reserve rate cuts. This scenario would likely weaken the US Dollar, making gold more attractive as a safe-haven asset If CPI surpasses forecasts, it would suggest persistent inflation, reinforcing the Fed's need for tighter monetary policy. This could strengthen the US Dollar and pressure gold prices. In conclusion, today's CPI report is pivotal for shaping gold's short-term trajectory, as it directly influences Federal Reserve policy expectations and the US Dollar's strength. Traders should prepare for potential volatility and sharp market moves depending on the inflation data.
OANDA:XAUUSDShort
by TREXTROFX
XAUUSD Gold Spot Wave Analysis Elliott neoWaveThe gold chart is nearing the end of wave D and we should expect a price correction to complete wave E towards $2530 soon, but there may be a smaller upward wave remaining. First entry: 2700 Possible second entry: 2740-2750 Stop loss: 2775 Take profit: 2530 This offer has a risk/reward ratio of around 3 Make sure to involve less than 2-3% of your total capital and stick to money management principles This is just a suggestion for consideration
OANDA:XAUUSDShort
by Sina-TFX
XAU/USD 07.12.24OANDA:XAUUSD Hello Traders, For the upcoming week, I anticipate overall bullish momentum. Last week, we may have observed a potential (1)-(2) wave formation. On Friday, a smaller 1-2 wave pattern seemed to emerge on lower timeframes (marked in yellow). A break below the yellow Fibonacci level would support my earlier idea that we might first see an ABC structure within wave (2). However, I believe it's more likely that we have already hit the low for wave (2). This is my outlook for the week ahead: The dollar appears to be at a tipping point, where bears might start taking control.
OANDA:XAUUSDLong
by NeptenFX
1
Gold: holding asideDuring the previous week the price of gold was sort of side-traded. Although the US Dollar lost some of its strength, especially after the NFP data, the price of gold was staying relatively still. The weekly highest-lowest range was between levels of $2.664 down to $2.618 reached at Friday trading season. It seems that the market is currently not sure which side to trade. They are not convinced that the geopolitical tensions are yet over, but also the previous strengthening of US Dollar did not provide much confidence for the clear move. Even charts are currently reflecting this “let’s see” moment. The RSI is continuously moving around the 46 level, and is still not ready to take a clear path toward the overbought market side. The MA50 modestly slowed down its divergence from MA200 but the line did not take a clear convergence path. The NFP data posted during the week, analysts are perceiving as “not too hot and not too cold”, but still are expecting a further Fed's rate cut at their December FOMC meeting. The US inflation data for November will be posted during the week ahead, which might bring some volatility in case that inflation misses market expectations. Current charts are showing higher potential for a decrease of the gold price in the coming period, however, it should be taken with a precaution at this moment. Anyway, it should be expected that the markets will take another week to digest inflation data, before the final move two weeks from now, to close the Year.
OANDA:XAUUSD
by XBTFX
GOLD Is Very Bearish! Short! Take a look at our analysis for GOLD. Time Frame: 1D Current Trend: Bearish Sentiment: Overbought (based on 7-period RSI) Forecast: Bearish The market is approaching a significant resistance area 2,695.926. Due to the fact that we see a positive bearish reaction from the underlined area, I strongly believe that sellers will manage to push the price all the way down to 2,617.334 level. P.S Please, note that an oversold/overbought condition can last for a long time, and therefore being oversold/overbought doesn't mean a price rally will come soon, or at all. Like and subscribe and comment my ideas if you enjoy them!
OANDA:XAUUSDShort
by SignalProvider
5
THE KOG REPORT THE KOG REPORT In last week's KOG report we said to expect choppy price action, but we did not expect it to last the whole week! What a week however, the range allowing traders to trade within it up and down making the most of the levels on the boxes and Excalibur. We gave the weekly key level as 2620 which we said will need to break to go lower, otherwise, opportunities from that level were available and worked well. On Friday we published the NFP report, again giving the key level for the push up 2625, this also worked well for traders, with the bonus of the short to end the week. A fantastic week for traders with us completing a phenomenal 37 targets across the markets! We had that higher region of 2670 which however was not visited, so is it still available? Let’s dive in. So, what can we expect from the week ahead? This week we would expect this price action to continue, the range getting a little larger but the up and down movement making it difficult to hold position, at least for the first part of the week. We have that key level of resistance above again at 2650 with that level of 2670 still active on our books. For that reason, we feel this decline isn’t ready just yet, but the lower levels are available for consideration. Support below 2620 and below that the 2610 level are opportunities if we can continue this slow decline downside. We have the extension of the move at 2590 as key level support, so we feel that’s the ideal long trade for the swing up, if attacked. Looking at the chart in more detail, and applying the red boxes, we can see we have defence above at 2635-40, which if held, can continue this move down into the red box 2625 as the immediate level for the range. A break of that level will take us further into breaker move 2610 and 2590 before any exhaustion. As we close in to the festive period, we can expect volume to be thin over the coming weeks as well as sudden burst of profit taking, so please trade carefully for the remainder of the month, reduce your lot sizes and make sure you have a sensible risk model in place. KOG’s Bias for the week: Bearish below 2665 with targets below 2620 and below that 2610 Bullish on break of 2665 with targets above 2670 and above that 2685 RED BOXES: Break above 2639 for 2650, 2660, 2663 and 2670 in extension of the move Break below 2627 for 2620, 2610 and 2595 in extension of the move Please do support us by hitting the like button, leaving a comment, and giving us a follow. We’ve been doing this for a long time now providing traders with in-depth free analysis on Gold, so your likes and comments are very much appreciated. As always, trade safe. KOG
FX:XAUUSD
by KnightsofGold
10
Lingrid | GOLD double TOP At The RESISTANCE zoneOANDA:XAUUSD has bounced perfectly off the resistance zone that I highlighted yesterday. The market formed a pinbar pattern on the 4H timeframe, indicating rejection at this level. Additionally, there was a false breakout of the previous resistance zone at 2666.350. On the 1H timeframe, we can see a double top pattern, which further signals a potential reversal. I believe the market may move sideways just below this resistance before making a downward move, especially since there are no high-impact news events scheduled for today and price pulled back into consolidation zone. I expect the price to retest the support level and the downward trendline. My goal is support zone around 2650 Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩‍💻
OANDA:XAUUSDShort
by Lingrid
7
XAUUSD: Don't waste this longterm buy opportunity.Gold turned bullish on its 1D technical outlook (RSI = 57.544, MACD = -4.010, ADX = 27.147) following today's breakout over the 4H MA200. The most important aspect of this is that the 1W timeframe remains bullish (RSI = 61.387), which is highlighter by the fact that Gold is trading inside a Channel Up for more than 1 year (October 2nd 2023). This pattern looks very much like the Channel Up of the 2018-2020 Bull Cycle. The 1W RSI is rebound off the same level it did on the March 16th 2020 low. This indicates that the current levels is a buy opportunity we will most likely won't see again until the Cycles peaks. We are bullish, aiming for a similar +79.40% rise (TP = 3,200). See how our prior idea has worked out: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
FX_IDC:XAUUSDLong
by InvestingScope
GOLD - Price can bounce from resistance level and start to fallHi guys, this is my overview for XAUUSD, feel free to check it and write your feedback in comments👊 Some time ago price made a strong upward impulse to $2720 points, thereby breaking $2665 level. But then, price turned around and started to decline inside triangle, breaking $2665 level one more time. Next, Gold fell to support area, after which started to grow and soon reached $2665 level, after which made a correction. Later price rose to resistance line of triangle, after which corrected to $2620 support level and then started to grow. Recently, Gold reached resistance line of the triangle, exited from this pattern, and even made retest. Now price trades below the resistance level and I think Gold can bounce down from this level to $2630 If this post is useful to you, you can support me with like/boost and advice in comments❤️
OANDA:XAUUSDShort
by WalterMoon
8
Closing my order in Profit / #102 Profits rowAs discussed throughout my yesterday's session commentary: "My position: As my Neutral Rectangle (Trading zone) is invalidated, #2,657.80 break-out may stall near #2,662.80 Resistance in extension. If #2,662.80 gets invalidated, Bullish Short-term bias is restored and I will Buy Gold on spot. However if #2,652.80 benchmark gives away, #2,632.80 - #2,652.80 represents new / old Trading zone." I have announced my break-out points and engaged Buying order on #2,662.80 Resistance / closed it on #2,674.80 with fine #12-point Profit extending my results range to #102 Profits and #20 Stop hits from December #2023 - December #2024. Technical analysis: My overall analysis was spot on regarding Short-term Bullish trend restored as Target group was hit but on the same time the Long batch was initiated with #2,682.80 Resistance in extension as an most viable Target. I see increasing wall of Resistances within #2,672.80 - #2,682.80 zone on Hourly 4 chart so I took the profit earlier at #2,674.80 for #50% of the lot (rest on initial Target of #2,682.80). The volume remains very High so these upside attempts are vulnerable to aggregated Profit Taking which may stall the uptrend. My position: I have new Buy order engaged with #2,667.80 entry point / optimal Target remains #2,682.80 Resistance in extension. If #2,682.80 gives away and market closes above, #2,700.80 benchmark will represent Target to monitor.
OANDA:XAUUSDLong
by goldenBear88
Closing my order in Profit / #102 Profits rowAs discussed throughout my yesterday's session commentary: "My position: As my Neutral Rectangle (Trading zone) is invalidated, #2,657.80 break-out may stall near #2,662.80 Resistance in extension. If #2,662.80 gets invalidated, Bullish Short-term bias is restored and I will Buy Gold on spot. However if #2,652.80 benchmark gives away, #2,632.80 - #2,652.80 represents new / old Trading zone." I have announced my break-out points and engaged Buying order on #2,662.80 Resistance / closed it on #2,674.80 with fine #12-point Profit extending my results range to #102 Profits and #20 Stop hits from December #2023 - December #2024. Technical analysis: My overall analysis was spot on regarding Short-term Bullish trend restored as Target group was hit but on the same time the Long batch was initiated with #2,682.80 Resistance in extension as an most viable Target. I see increasing wall of Resistances within #2,672.80 - #2,682.80 zone on Hourly 4 chart so I took the profit earlier at #2,674.80 for #50% of the lot (rest on initial Target of #2,682.80). The volume remains very High so these upside attempts are vulnerable to aggregated Profit Taking which may stall the uptrend. My position: I have new Buy order engaged with #2,667.80 entry point / optimal Target remains #2,682.80 Resistance in extension. If #2,682.80 gives away and market closes above, #2,700.80 benchmark will represent Target to monitor.
TVC:GOLDLong
by goldenBear88
2
What's Next on Gold : 2680 or 2630Gold collected the liquidity but it was unable to sustain above 2675-2680 region! Now started decline and you can expect a downfall! It may have a support at 2652, but if it breaks 2652 you can see 2632/2622 by Wednesday! Consider a Stop at 2680 region if you are shorting at current price of 2664. For this 16 points SL you can get 32 points reward of 32 points , which is 1:2 RR Consider this for educational purpose and do not risk more than 1% of your portfolio.
FXOPEN:XAUUSDShort
by Edwindxb