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XAU/USD Aims to Cross $2,050 Hurdle with Easing US InflationGold price (#XAUUSD) has faced mixed sentiment and sluggish US dollar ahead of the US inflation data. Despite the challenges, the progress on the US debt ceiling negotiations and optimism surrounding Asia have underpinned the #XAUUSD run-up. Technical analysis suggests that the upper band of the Bollinger on the daily chart joins Pivot Point one-day R2 and the previous monthly high to cite the $2,050 level as an important upside hurdle for the #XAUUSD. The $2,025 support confluence including Fibonacci 23.6% on one month, Fibonacci 61.8% on one-day and the lower band of the Bollinger on the hourly chart is also a crucial level to watch. In terms of gold futures markets, traders added around 3.8K contracts to their open interest positions on Tuesday, adding to Monday’s build. Volume, in the same line, went up by around 20.8K contracts after two consecutive daily drops. The continuation of the weekly recovery in gold appears likely on the back of Tuesday’s advance amidst rising open interest and volume, with the yellow metal remaining focused on the 2023 peak near $2070 recorded earlier in the month. TRADE IDEA DETAILS CURRENCY PAIR: #XAUUSD CURRENT TREND: Uptrend (3-week) TRADE SIGNAL: ↗️Buy 👉ENTRY PRICE: $2,035 ✅TAKE PROFIT: $2,080 ❌STOP LOSS: $2,015 #GoldPriceForecast #TechnicalAnalysis #USInflation #GoldFutures #XAUUSD #USDebtCeiling #AsiaOptimism #Tradernotes #MarketUpdates
OANDA:XAUUSDLong
by RichDadph-FX
1
Gold- Will this be the expected move to new ATH?As I said for quite some time, I expect a new ATH from Gold, and also yesterday, in my post I suggested buying dips as a strategy. Indeed, after a very short-lived dive under 2010, XauUsd exploded to the upside again and reached 2067, only 8usd from the old ATH. Now the price is in a normal correction and this correction could offer bulls again a good price to enter. The first support is around 2040, followed by the 2020 zone. Only a drop and close under yesterday's low would put a pause on this strongly bullish scenario
OANDA:XAUUSD
by Mihai_Iacob
7
Gold May Tests $1950 Before It RiseThere are no big signs of the dollar strengthening in recent times. However, the Fed has so far been in favor of raising bank rates. But the reality is that although it is possible to temporarily support the USD by increasing the bank rate, eventually the USD won't get an advantage against gold and overall commodities unless Iinflaton drops. As it was initially thought, due to the sanctions of America and the European Union, Russia will suffer a lot. In reality, although Russia is suffering but America or its allies could not benefit much. Due to these reasons, negative sentiment has been created for America. And recent US economic reports are not very favorable either. Two American banks have gone bankrupt. Due to the dollar crisis, many countries are withdrawing from dollar transactions day by day. A strong dollar is certainly harmful to the American economy as well. After all, the Fed may not want the dollar to strengthen too soon too fast. However, as the dollar will continue to weaken further, But we shouldn't always buy Gold. There is something to say about price action and market correction. Gold is now close to the correction zone, although the market sentiment for gold is very positive. In case, if the job market report comes positive next week, then gold can easily test TSE:1950 dollars. At least for the price action. But, if the NFP prints negative than forecast for the next week, gold has a better chance to test $2000/2013. There is a strong trendline resistance near the $2000/2005 price zone and immediate resistance identifying near the HKEX:2013 price zone. If NFP doesn't print super negative, I don't think gold will easily break above the HKEX:2015 price zone till it drops first and test $1950. From the present circumstance, TSE:1975 is identified as good support. Breaking below TSE:1975 will open the door for the TSE:1950 price. I think TSE:1950 is a good zone for buying gold with a small stop loss.
FOREXCOM:XAUUSDShort
by Gold_Trading_Expert
2
GoldViewFX - 4H MARKET UPDATEHey Everyone, Please see update on our 4H chart idea which is playing out as analysed. We got a nice drop into the retracement range followed with a prefect bounce with candle wicking out on our 1967 Goldturn support into our first target. Although our 1H chart idea has opened both ways with the swing range being open; the 4H chart is still supporting above the retracement range, as EMA5 remains above the retracement range. We remain Bullish with our long term plans and will continue to track the price level to level when buying dips from support levels with the short term trend down. We also have a long range Axis target at 2052 on the 4H chart. BULLISH TARGETS 2005 - DONE 2022 - 2039 - 2052 - BEARISH TARGETS 1993 - DONE 1980 - DONE EMA5 CROSS AND LOCK BELOW 1980 WILL OPEN THE SWING RANGE SWING RANGE 1960 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
OANDA:XAUUSD
by Goldviewfx
10
Gold (XAUUSD): Your Trading Plan For Next Week 🟡 Hey traders, This week, Gold broke and closed above a key horizontal resistance cluster. We see a correctional movement now. The price is steadily falling within a falling channel on 1H. To catch the next bullish movement, patiently wait for a bullish breakout of the resistance of the channel. If the price breaks and closes above that, a bullish continuation will be expected with the initial target being 2030 level. ❤️Please, support my work with like, thank you!❤️
OANDA:XAUUSDLong
by VasilyTrader
10
Gold- SL was taken, my bullish outlook remains intactOn Monday I said that I expect a new wave of buys on Gold and I'm looking to buy dips. As always, I put my money where my mouth was, but the spike down that followed took my stop loss (part of trading, even if we don't like this part:) ) Regardless of this setback, my bullish outlook for Gold is intact and, again, I'm looking to buy dips. Technically, the daily structure is strongly bullish and the recent PA seems to form a symmetrical triangle which usually is a continuation pattern. My target remains 2k zone with negation under last week's low, but a clear break of 2k could lead to acceleration and a new ATH could be reached
OANDA:XAUUSDLong
by Mihai_Iacob
13
XAUUSD Bullish Trading Plan, with previous analysis linkedXAUUSD Bullish Trading Plan, with previous analysis linked in Related Ideas 📉 Text marks: 🔹 IL = impulse leg. Inside of IL we can usually see inside structure, which is secondary in nature, like a market noise, unless you trade it on LTF, as it’s own IL. 🔹 ph, pl = protected high or low, which holds current structural impulse. 🔹 bos = break of structure . Based on candle body close below/above previous structural impulse. 🔹 rsz, rdz = refined supply and demand zones. Specific areas to look for LTF confirmations. They are manipulative up-moves before real down moves, or vice versa. Strong hands (the Composite Man, as Wyckoff called it) often come back to such zones to close their manipulative orders at breakeven, before pushing prices further. If body closes outside of the zone, in most cases it will mean the cancellation of the setup. 🔹 if ltf confirms = entry only if there's a shift of structure on lower TF inside of rsz or rdz, or any other type of backtested and approved confirmation. 🔹 liq target = liquidity target: next profit taking levels for strong hands, our main targets based on current price action. ☝️Disclaimer: ALL ideas here are for EDUCATIONAL and MARKETING purposes only, not a financial advice, NOT A SIGNAL. I share my view on the market and search for like-minded traders. YOUR TRADES ARE YOUR COMPLETE RESPONSIBILITY. Everything here should be treated as trading in a simulated environment. 🚀Thanks for your BOOSTS and support🚀 💬Send your comments and questions below, share your ideas and charts, I'll be glad to talk to you💬
OANDA:XAUUSDLong
by Yelli_trades
18