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GOLD recovered quite strongly, falling after FOMCOn the Asian market today (Thursday, December 19), OANDA:XAUUSD Spot trading recovered strongly after a sharp decline in the previous trading day. Gold price reached its highest level at the time of writing at 2,618 USD/ounce, an increase of nearly 30 USD during the day. The market will next receive US economic data, including final third-quarter GDP and weekly unemployment claims. Market attention will then turn to Friday's release of the U.S. personal consumption expenditures (PCE) price index, the Fed's preferred inflation measure, which will boost the U.S.'s copper performance. US Dollar and gold in the short term. FOMC On Wednesday, the Federal Reserve cut interest rates as expected and predicted less policy easing in 2025. Federal Reserve Chairman Powell said the threshold for the next rate cut could be higher, which sent the US Dollar and US Treasury yields soaring, while at the same time, Gold fell more than 2% to a one-month low in trading on Wednesday. Federal Reserve officials cut interest rates for a third straight time on Wednesday, but lowered their forecast for the number of rate cuts next year, signaling they are increasingly cautious about being able to reduce spending. How quickly does the loan cost? The Federal Open Market Committee (FOMC) voted 11-1 on Wednesday to lower the federal funds rate to a range of 4.25%-4.5%. Cleveland Fed President Beth Hammack voted against, in favor of keeping interest rates unchanged. In the FOMC policy statement, Fed officials noted that economic activity continued to expand at a solid pace. Labor market conditions have generally eased since the beginning of this year, with the unemployment rate rising but remaining low. Inflation has made progress toward the committee's 2% target but remains high. The new Dotplot chart shows some officials expect fewer interest rate cuts next year than they estimated just a few months ago. Fed officials currently expect the benchmark interest rate to be between 3.75% - 4% by the end of 2025, which, according to the median estimate, would mean two rate cuts of 25 points each. basic. Jerome Powell The Fed will cut interest rates only twice next year amid rising inflation, according to Fed Chairman Jerome Powell, a forecast consistent with Trump's wait-and-see approach when he returned to the White House in January. Powell said Fed policymakers want to see more progress in reducing inflation when considering future rate-cutting strategies. US federal funds rate futures have reflected that the Federal Reserve will leave its benchmark overnight interest rate unchanged at its policy meeting on January 28-29 next year. Analysis of technical prospects for OANDA:XAUUSD Thus, gold has enough conditions to decrease in price after falling below the 0.618% Fibonacci level and bringing price activity back below the EMA21 moving average, with a sudden impact from fundamental factors. In the short term, although gold recovered from the 0.786% Fibonacci retracement level at $2,591, which was the bearish target noted by previous readers, it could still continue to decline further with a target around $2,538. . When the Relative Strength Index dropped below the 50 mark and was quite far from the oversold area, it showed that there is still plenty of room for price decline ahead. During the day, gold price increases as long as they do not surpass the 0.618% Fibonacci level and EMA21 should only be considered short-term recovery. Along with that, the downward trend in gold prices will be noticed again by the following technical levels. Support: 2,591 – 2,552 – 2,538USD Resistance: 2,624 – 2,634USD SELL XAUUSD PRICE 2635 - 2633⚡️ ↠↠ Stoploss 2639 →Take Profit 1 2628 ↨ →Take Profit 2 2623 BUY XAUUSD PRICE 2549 - 2551⚡️ ↠↠ Stoploss 2546 →Take Profit 1 2556 ↨ →Take Profit 2 2561
OANDA:XAUUSD
by Xayah_trading
Gold sits below a local resistance, break above will see $3,000 Gold is sitting on a local resistance level, this is a danger level to buy from, it would ideally be a good sell, with a stop loss now set right outside this channels upper resistance line for a very nice risk to reward ratio (This is the trade we currently have set) If Gold breaks above this resistance, we will see Gold head towards £3,000 by April 2025 as mentioned in our other idea below. Take a look for an explanation as to why:
FOREXCOM:XAUUSD
by Who-Is-Caerus
Unlock the Power of Gold: Proven Price Action Strategies!FXOPEN:XAUUSD @Alexgoldhunter Price Action Analysis and Strategy Key Elements on the Chart Current Price: The chart shows the current price of Gold at 2,615.90 USD. Break of Structure (BOS): Several points indicate significant price movements, suggesting potential shifts in the trend. Fibonacci Retracement Levels: 0.382 Level: 2,607.94984 USD 0.5 Level: 2,615.87 USD 0.618 Level: 2,623.79016 USD 0.705 Level: 2,629.6296 USD 0.786 Level: 2,635.06632 USD Volume: Shown at the bottom of the chart with varying heights, indicating trading activity levels. Relative Strength Index (RSI): Current values are 45.59 and 32.11, suggesting neutral to slightly oversold conditions. Moving Average Convergence Divergence (MACD): Current values are 1.83, -7.50, and -9.33, indicating bearish momentum with potential for a bullish crossover. Buy Strategy Entry Point: Consider entering a buy position near the 0.382 Fibonacci level (2,607.94984 USD), especially if the price shows signs of reversal with increasing volume. Confirmation: Look for a bullish break of structure (BOS) and RSI moving above 50. Target: Aim for the 0.618 Fibonacci level (2,623.79016 USD) or higher, with potential for additional targets at the 0.705 and 0.786 levels. Stop Loss: Place a stop loss below the recent low or the 0.382 Fibonacci level to minimize risk. Sell Strategy Entry Point: Consider entering a sell position near the 0.786 Fibonacci level (2,635.06632 USD), especially if the price shows signs of reversal with decreasing volume. Confirmation: Look for a bearish break of structure (BOS) and RSI moving below 50. Target: Aim for the 0.5 Fibonacci level (2,615.87 USD) or lower, with potential for additional targets at the 0.382 and 0.618 levels. Stop Loss: Place a stop loss above the recent high or the 0.786 Fibonacci level to minimize risk. Conclusion This analysis combines price action techniques with technical indicators to generate a buy and sell strategy for the XAU/USD pair. By using key levels, volume, RSI, and MACD, traders can make informed decisions and manage their risk effectively. Follow @Alexgoldhunter for more strategic ideas and minds
FXOPEN:XAUUSD
by Alexgoldhunter
ANNUAL CLOSING PREDICTION🌟 XAU/USD Gold Forecast - Monday, December 16, 2024 🌟 Gold (XAU/USD) is heading into Monday with a bullish outlook but faces key resistance at $2,765. A breakout above this level could propel prices higher, aligning with the current uptrend. However, if resistance holds, we might see a correction towards the strong support zone at $2,545. 🔑 Key Levels to Watch: Resistance: $2,765 – A critical ceiling for upward movement. Support: $2,545 – A safety net for price drops. 📈 Market Sentiment: Gold’s momentum remains positive, supported by ongoing economic uncertainties. But keep an eye on potential short-term pullbacks if buyers hesitate at resistance levels. 📅 Week Ahead: Gold remains a top safe-haven asset amidst fluctuating market conditions. Watch for breakout opportunities as the trend develops. Stay tuned for updates and live action on XAU/USD throughout the week! Anticipates gold prices reaching $2,500 per ounce by year-end, assuming a Federal Reserve rate cut
FOREXCOM:XAUUSDShort
by TREXTROFX
XAUUSD looking for recovery? 1H analysisOANDA:XAUUSD XAUUSD went bearish after the FOMC news and made the weekly low of 2584. Traders had anticipated 25 bps cut but the 2 rate cuts in coming year was a surprise and everyone took it positively. TVC:DXY went strong bullish and peaked at 108. Now for today's trading opportunity I have simplified the levels for you people. For now, let's see if it's technical correction or just bullish continuing. BUY LEVELS: 2619 If market is able to hold above the level. SELL LEVELS: 2584 a major level and fall below this means short 2638 a level that can be considered a resistance for being in line with SMA 2656 A strong resistance level that is great short level. NOTE: there is economic news coming in the us session. so if you are new trader stay, stay away from market. If yore regular trader then be lenient with stops. & Always if you like my idea then boost it and share your thoughts in the comments.
OANDA:XAUUSD
by Forex_Analysis_Wing
GOLD change of trend? Daily EMA heading for the trend line SHORTHello fellow traders This idea is based on a few technical indicators and latest news entering this trade with a T/P at 2550 being Value area zone and close to daily EMA 200. The S/L just above the daily candle at 0.382 Fib level entry as I believe this is the strong 'correction' and recovery to 0.5 or 0.618 less likely Trade carefully, always protect your capital with a s/l which you can handle without tearing your hair :D BTW- this is just an idea not a trading advise, good luck
OANDA:XAUUSDShort
by lb-counts
Trading minute impulseOn the minute timeframe of XAUUSD at the moment we have the completion of the impulse formation. If the price continues to move in the direction of the impulse and the support zones do not allow it to overcome the base of the impulse, it may reach the targets 1 and 2. If the price fails to advance in the direction of the momentum and overcomes the support zone at the base of the momentum, it is very likely that the price will move sideways or against the direction of the momentum.
FXOPEN:XAUUSDShort
by syomking76418
1 hour and 4-hour timeframes outlook & analysis 1-Hour Chart Analysis: 1. RSI and Signal Line: • RSI is at 54.17, above the neutral 50, indicating moderate bullish momentum. • The signal line (42.28) lags behind, suggesting a delayed confirmation. 2. Bollinger Bands: • Price is above the Bollinger midline, heading toward the upper band, indicating upward momentum. • Breaking the upper band would confirm stronger bullish sentiment. 3. Ichimoku Components: • Lagging span and conversion line show bullish attempts but are still close to key resistance. 4. Key Levels: • Resistance levels at Take Profit 2 (2629.88) and Precision RES 2 (2627.70) are crucial. • Fibo 38.2% at 2624.19 acts as immediate support for continuation. 5. Volume and ADX: • Volume signals are mixed, and ADX trend strength at 28.78 indicates a developing trend but not yet strong. 4-Hour Chart Analysis: 1. RSI and Signal Line: • RSI is at 40.32, below the neutral 50, showing weak bullish momentum on the higher timeframe. • Signal line (36.29) lags, indicating bearish pressure still exists. 2. Ichimoku Components: • Lagging span and conversion line are below the price, suggesting the market is trying to transition from bearish to neutral. • Immediate support from the Ichimoku conversion line at 2616.73. 3. Key Levels: • Immediate resistance at EMA 8 (2622.77) and MA 5 (2618.27). • Fibo 23.6% at 2615.89 provides a critical support level to watch for bullish continuation. 4. Volume and ADX: • Negative volume spikes (-76.85%) indicate bearish dominance. • ADX at 40.76 with DI- (35.38) above DI+ (10.32) shows the bearish trend is still active but weakening. Combined Analysis: 1. 1-Hour Trend: • Bullish attempts are evident, but resistance around 2627.70 (Precision RES 2) and 2629.88 (Take Profit 2) must be cleared for confirmation. • The RSI supports short-term bullish momentum. 2. 4-Hour Trend: • The 4-hour chart suggests the bullish attempts on the 1-hour are within a broader bearish trend. RSI below 50 confirms this. • Strong support lies at 2615.89 (Fibo 23.6%) and 2601.42 (MA 9). Recommendations: 1. For Long Trades: • Wait for 1-hour confirmation above 2627.70 and 4-hour RSI to cross 50. • Ensure Ichimoku lagging span and conversion line align bullishly on both timeframes. 2. For Short Trades: • If price rejects 2627.70 and falls below 2615.89, consider shorting with a target at 2601.42. 3. Risk Management: • Place stop loss below 4-hour support at 2615.89 for long trades and above 1-hour resistance for short trades.
FX:XAUUSDShort
by ICHIMOKUontheNILE
1
Gold Short Trade 11/12/2024### Technical Analysis for Gold Futures *Current Pattern:* - *Rising Wedge Formation*: The recent price action suggests that Gold Futures are forming a rising wedge pattern. This bearish pattern indicates that momentum is weakening despite rising prices and may precede a price decline. Traders should look for confirmation of a breakout below the lower trendline to validate this pattern. *Key Resistance Levels*: - *Double Top Formation*: A double top has emerged in the price structure, further reinforcing the bearish outlook. The market has struggled to break above the previous highs, indicating potential exhaustion among buyers. *Target Levels for Price Decline*: - *$2693*: Watch for this level as a potential pivot point. If we break below, it could trigger further selling pressure. - *$2687*: This could serve as the next support; a breakdown here might push prices lower. - *$2676*: Another critical support level, further affirming bearish sentiment if breached. - *$2667*: A substantial support area where buyers may step in; however, sustaining a break below this level could indicate a more significant downward trend. *Volume Analysis*: - Pay close attention to trading volume as prices approach these key levels. A decrease in volume during upward movements could indicate weakening bullish sentiment, while increased volume on downward moves might confirm the bearish trend. *Risk Management*: - It's crucial to implement proper risk management strategies. Consider setting stop-loss orders above key resistance levels to protect against unexpected price reversals, and define your risk-reward ratio clearly before entering any trades. ### Summary: Overall, the technical indicators suggest a bearish outlook for Gold Futures with a rising wedge and double top formation. Key monitoring levels are $2693, $2687, $2676, and $2667 for potential sell opportunities. Maintain awareness of trading volume and employ risk management strategies to navigate this market safely. Safe trading, everyone! 📉💼
EIGHTCAP:XAUUSDShort
by SRFXGlobal
GOLD FORECASTIn this chart we are analyzing 4H time frame for finding the upcoming moves and changes in gold price. By using SMC concept combine with price action and liquidity concept. I'm looking for buy trade opportunity. So what we will do just wait for price when it comes to our zone and observe the reaction of price when enter into the zone. Let's see what happens and which opportunity market will give us. Let's delve deeper into these levels and potential outcomes. Always use stoploss for your trade. Always use proper money management and proper risk to reward ratio. This is just my analysis or prediction. #XAUUSD 4H Technical Analyze Expected Move.
OANDA:XAUUSDLong
by TradeTacticsreal
XAUUSD. Analysis of the daily timeframeHey traders and investors! Let me remind you, on the daily timeframe, there's a range. The upper boundary is 2726.295, and the lower boundary is 2536.855. The current seller's vector 6-7 has reached the first target of 2605.31, and the price has nearly hit the second target of 2581.445. The seller’s daily bar on December 18th showed good volume and spread. It is risky to look for short trades now since the price is at the lower end of the range. You can search for buying patterns as an idea for the buyer's vector 7-8 with a potential target of 2721.42. However, there are two factors to consider: 1. The seller’s daily bar from December 18th with good volume and spread indicates strong sellers, from which a seller could resume. To find a buying pattern, it would be ideal for the seller to resume from this bar (e.g., on the hourly timeframe) and be overcome by the buyer. 2. The price has not yet touched the buyer's zone (green rectangle on the chart), with its upper level being the second target (2581.445). To find a buying pattern, it would be ideal for the price to enter the buyer's zone and see the buyer's resumption from there. If both factors are met, the likelihood of a successful buying pattern will be significantly higher—observing the seller's resumption, the touch of the buyer’s zone, and the buyer’s resumption. I wish you profitable trades.
OANDA:XAUUSD
by AlexeyWolf
NQ Power Range Report with FIB Ext - 12/19/2024 SessionCME_MINI:NQH2025 - PR High: 21546.50 - PR Low: 21453.75 - NZ Spread: 207.0 Key scheduled economic events: 08:30 | Initial Jobless Claims GDP Philadelphia Fed Manufacturing Index 10:00 | Existing Home Sales FOMC driven 960+ point value decline - Return to daily Keltner avg cloud - Auctioning between pivots from Nov 11 & Nov 25 Session Open Stats (As of 12:45 AM 12/19) - Weekend Gap: N/A - Gap 10/30/23 +0.47% (open < 14272) - Session Open ATR: 338.33 - Volume: 50K - Open Int: 226K - Trend Grade: Bull - From BA ATH: -4.4% (Rounded) Key Levels (Rounded - Think of these as ranges) - Long: 22667 - Mid: 21525 - Short: 19814 Keep in mind this is not speculation or a prediction. Only a report of the Power Range with Fib extensions for target hunting. Do your DD! You determine your risk tolerance. You are fully capable of making your own decisions. BA: Back Adjusted BuZ/BeZ: Bull Zone / Bear Zone NZ: Neutral Zone
CME_MINI:NQH2025
by mv3trader5