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Gold Spot (XAU/USD) AnalysisThe chart provided is of Gold Spot (XAU/USD) against the US Dollar, in a 4-hour timeframe. Here’s a detailed analysis and summary: 1. Trend Analysis: - The overall trend from early March to mid-May was upward, with gold prices rising steadily. - Recently, there has been significant volatility, with noticeable peaks and troughs indicating a correction or consolidation phase after the upward trend. 2. Support and Resistance Levels: - Resistance: The recent high is around 2387.313. - Support: Multiple levels including: - 2304.029 (61.8% Fibonacci retracement level). - 2281.389 (78.6% Fibonacci retracement level). - 2252.548 (Key horizontal support level). 3. Fibonacci Retracement Levels: - The chart shows Fibonacci retracement levels calculated from the recent high to the recent low. - 50% level at 2319.931. - 61.8% level at 2304.029. - 78.6% level at 2281.389. 4. Chart Patterns: - The dotted lines indicate A possible ascending channel, suggesting that the price has been moving within an upward-sloping range. - Recent price action shows a breakdown from this channel, indicating potential bearish pressure. 5. Current Price Action: - The price has dropped sharply and is currently around 2306.890. - It is approaching the 61.8% Fibonacci retracement level, which might act as immediate support. - If this level breaks, the next significant support is around 2281.389 (78.6% retracement). 6. Moving Averages and Indicators: - The chart does not explicitly show moving averages or other indicators, but the trend lines and Fibonacci levels provide key insights. Summary: The chart of the Gold Spot against the US Dollar shows an overall uptrend that is currently facing a correction or consolidation phase. Key support levels to watch are around the 61.8% Fibonacci retracement level at 2304.029 and the 78.6% retracement level at 2281.389. It might resume its upward trend if the price stabilizes above these levels. However, a break below these supports could indicate further downside risk, with the next major support at 2252.548.
OANDA:XAUUSDShort
by The90sTraderOfficial
XAUUSD (Gold) Technical Analysis and Trade Idea In this video, we conduct a brief analysis of XAUUSD (Gold). Despite experiencing downward pressure over the past three weeks, it is currently approaching a significant support zone. On the three-week timeframe, we observe a bullish trend. Our focus is on identifying a buy entry point within this critical support area, assuming price action aligns with our analysis from the video. As always, the video provides valuable insights into trade entry points, trend analysis, market structure, and price action. Please note that this content serves an educational purpose and should not be construed as financial advice. 📈 🚀📊
FOREXCOM:XAUUSDLong
by fxtraderanthony
5
XAUUSD SWING BUYLIMIT PROJECTIONKEY POINTS: Analyst says gold to drift back to $2,355 if dollar keeps upward momentum Fed minutes reflected discussion of possiblefurtherhikes Price rise likely to temper discretionary gold buying - ANZ Gold prices fell for a third straight session on Thursday after minutes from the most recent Federal Reserve meeting indicated that some officials were inclined to raise interest rates. Spot gold GOLD fell 0.6% at $2,365.49 per ounce, as of 0638 GMT. Bullion hit a record high of $2,449.89 on Monday. U.S. gold futures GOLD were down 1.1% at $2,367.60.
OANDA:XAUUSDLong
by kripsonfx97
1
Accurate trading signals for today From the daily chart, the gold price is currently in an upward structure, and the trend is well maintained. The moving average system also shows that the gold price has not gone short. But the 4-hour short-term upward trend line has been broken. From the perspective of the golden ratio, the current support of the gold price is at 0.236. This adjustment is a weak callback. The 1H Bollinger trend closed and then flattened, which is a typical shock signal. Therefore, although the bullish structure on the daily chart is intact, the small cycle is currently in a shock structure. The shape is now in a converging triangle state, so it is difficult to say whether to be bullish or bearish. There is no overwhelming technical reason. So if you say you are bullish or bearish, you really can't see the direction. But in terms of operation, what we can do is to sell high and buy low. According to the trading rules, you should sell when you encounter pressure and buy when you encounter support. Today's support is at 2406 and the pressure is at 2428. The current price is obviously sold, there is no good position to set a loss, and the profit ratio is not suitable. Therefore, it is also necessary to buy at this position.
OANDA:XAUUSD
by RID_WK
Will gold continue to rise? First, the gold daily level: From the current pattern, on the one hand, the price broke through the previous historical high of 2432, on the other hand, the 5-day moving average continued to rise, which is a strong unilateral continuation, because it is not a continuous positive, but a two-positive and one-negative pattern; therefore, today may be closed with a small negative cycle, and the next day or two will continue to be a positive unilateral attack, the key support point is still the 5-day moving average, moving up to 2400, today this position continues to be bullish, this week there is hope to hit 2460-2470 Second, the gold hourly level Special: Today's Asian session fell, and the European session was in a range of consolidation; from the figure, we can see that the short-term upper track is suppressed below 2425, and the short-term support is above 2409; before 2425 is broken and stood above, there may be another wave of declines and then stabilized and pulled up. At that time, pay attention to the support of 2409 and the stabilization of the first-line support of 2400; on the contrary, if 2425 breaks through and stands above in advance, it will all be washed back today, engulfing the decline in the Asian session, impacting 2432-2433, and even continuing to break through 2440-2450;
OANDA:XAUUSD
by RID_WK
XAUUSD:Go long near support Gold has reached a new all-time high, and the power of the bulls has not yet been completely exhausted. Usually, after a new high, there will be some resistance to the rise. However, judging from the current trend, if the support is effective, it is likely to reach a new high. The difficulty of transactions will increase as volatility intensifies in the near future. During the transaction process, everyone should pay attention to controlling risks and avoid letting the account be blown. If you need help, please contact me in time.
FOREXCOM:XAUUSDShort
by Allen_Ex
Gold will continue to break through all-time highs Hello everyone. We can see that 2335 was a suppression point for gold in the early stage. After breaking through 2335 last week, it changed from suppression to support. This week I tested the support here at 2335 many times, but failed to fall. From the wave shape analysis, we can also see that gold is currently out of the fifth wave of gains. The top of the previous wave was at 2335, and the callback trend of the fourth wave was from 2378 to 2335. If the fourth wave does not break the top of one wave, then it proves that there will be a fifth wave of rise later. I have also drawn it in the picture. Once it is said that it will stand firm at 2360-65, then it will directly test the 618 position and the previous high of 2400. Once it effectively stands firm at 2380, the market outlook will go directly to the 100% position near 2400. At the same time, I have been buying gold today when gold fell back and broke through resistance 2355-2360.
OANDA:XAUUSDLong
by RID_WK
1
Gold falls as Fed officials downplay interest rate cutsThe yellow steel fell on Thursday after a sequence of Fed officers warned in opposition to putting a top class on an instantaneous hobby price reduce. Some contributors of principal banks` hobby-price-putting panels stated principal banks could want to illustrate a lot extra that detectability become falling past the tepid emissions visible in April. This shows buyers are beginning to present a few desire for a price reduce in September. The greenback and Treasury yields additionally recovered from in advance decelerations this week. However, a few lower-than-anticipated client charge index facts become factored right into a 0.7% weekly gain.
OANDA:XAUUSDShort
by MrTrongVo