In a short period #XAUUSD can go up and reach to the 2660.High timeframe trend = BULLISH
if #XAUUSD couldn't be able to break the whole 2660 and drop below 2648 in 4h candle, then the next bearish target will be 2612.
GOLD.PRO.OTMS trade ideas
Interest rate expectations and geopolitics still drive GOLDOANDA:XAUUSD corrected after rising sharply as the possibility of the Federal Reserve cutting interest rates next week increased significantly after the release of US CPI data.
CME Group's "FedWatch" tool shows traders see a 98.5% chance the Fed will cut another 25 basis points at its December 17-18 meeting, a significant increase from the 86% chance before CPI data is released.
The U.S. Bureau of Labor Statistics reported Wednesday that the Consumer Price Index (CPI) rose 0.3% month-over-month and 2.7% year-over-year in November, both in line with market expectations. Economists surveyed by Dow Jones previously expected this number to increase an average of 0.3% month-on-month and 2.7% year-on-year.
Excluding food and energy costs, the US core CPI rose 3.3% year-on-year in November and was up 0.3% month-over-month. Economists surveyed by Dow Jones on average expect core CPI to rise 0.3% month-on-month and 3.3% year-over-year.
The market is now focusing on today's (Thursday) US Producer Price Index (PPI) data to shed more light on the Federal Reserve's interest rate cut roadmap.
Geopolitical news once again boosted OANDA:XAUUSD
On the daily chart, gold corrected after approaching the 0.236% Fibonacci retracement level and temporary upside was limited by this technical level.
However, in terms of overall structure, the gold price has enough technical conditions to increase after breaking the falling price channel and bringing the main activity above the EMA21 line. Along with that, the Relative Strength Index also rose above 50, which should be considered a positive signal for the bullish outlook of gold prices.
On the other hand, gold is likely to open a new bullish cycle when it breaks above the $2,730 level of the 0.236% Fibonacci retracement then the target is the Volume profile POC point, more so the $2,761 level and all-time highs. era established earlier.
During the day, the technical outlook for gold is bullish with notable points listed below.
Support: 2,700 – 2,693 – 2,676USD
Resistance: 2,730 – 2,742 – 2,761USD
SELL XAUUSD PRICE 2741 - 2739⚡️
↠↠ Stoploss 2745
→Take Profit 1 2734
↨
→Take Profit 2 2729
BUY XAUUSD PRICE 2669 - 2671⚡️
↠↠ Stoploss 2665
→Take Profit 1 2676
↨
→Take Profit 2 2681
GOLDGOLD FINAL CHART ,we at shavyfxhub will wait for demand floor touch and buy as gold is still bullish on daily timeframe.
GOLD corrects, possibility remains optimistic as FOMC is comingOANDA:XAUUSD eased the correction significantly, which was partly due to the market taking profits after gold prices hit a five-week high and rushing to close positions ahead of next week's Federal Reserve meeting. In addition, higher US bond interest rates also affect gold prices.
OANDA:XAUUSD fell sharply on Thursday and was limited this trading day (Friday), as of press time, as traders booked profits following the release of US PPI data.
PPI data exceeded expectations, suggesting the fight against inflation may be stalling. In addition, the 10-year US Treasury bond interest rate increased slightly by 1.5 basis points to 4.289%, which also put pressure on gold.
The US producer price index (PPI) rose higher than expected in November due to soaring food costs. The U.S. Department of Labor reported on Thursday that the U.S. PPI rose 3% year-on-year and 0.4% month-on-month in November. Previous market expectations were 2% .6% and 0.2%.
Although Wednesday's US Consumer Price Index (CPI) was in line with expectations, it still rose at a seven-month high.
However, gold is expected to hold onto gains this week as optimism grows that the Federal Reserve could cut interest rates by 25 basis points next week. Traders' attention is turning to the prospect that the Federal Reserve may pause policy easing as early as 2025. Lower borrowing costs typically benefit gold because gold itself does not create out yield.
According to a report released by the World Gold Council (WGC) on Thursday, gold's gains are expected to slow in 2025 as concerns about growth and inflation during Donald Trump's presidency have can affect the ability to increase the price of gold.
Gold prices have risen more than 30% year-to-date and are on track for their biggest annual gain since 1979. The rapid rise has been fueled by the Federal Reserve's easing policy, demand safe-haven demand and continued buying activity by global central banks.
Analysis of technical prospects for OANDA:XAUUSD
On the daily chart, gold has corrected but overall it still has all the conditions for a technical upside with price activity outside the channel and above the EMA21 level.
Currently, gold's uptrend is temporarily limited by resistance at $2,693, the 0.382% Fibonacci retracement price point, more than the 0.236% Fibonacci level noticed by previous readers.
On the other hand, the Relative Strength Index also maintains activity above the 50 level, which should be considered a positive signal for the bullish outlook in the near future.
As long as gold remains above the EMA21 and outside the price channel, in the short term it is still likely to increase with notable points listed below.
Support: 2,676 – 2,663 – 2,644USD
Resistance: 2,693 – 2,700 – 2,730USD
SELL XAUUSD PRICE 2706 - 2704⚡️
↠↠ Stoploss 2710
→Take Profit 1 2699
↨
→Take Profit 2 2694
BUY XAUUSD PRICE 2659 - 2661⚡️
↠↠ Stoploss 2655
→Take Profit 1 2666
↨
→Take Profit 2 2671
Gold daily chart level wave count, cancel the red ABC wave. ConfGold daily chart level wave count: 1. Cancel the possibility of red ABC wave correction. 2. In November, 2790 fell to 2536, which was just a correction of the monthly K-line. It stopped falling after the red FVG on the monthly chart was filled, and started a new rise at the monthly level. That is to say, the pink 2536 pink fourth wave correction has ended, and the pink fifth wave has begun to rise. 2536-2720 is the sub-wave of the pink fifth wave and the green first wave. 2720-2605-2613 is the green second wave correction sub-wave. The blue ABC3 wave correction ends. Breaking through 2666 starts a five-wave rise into the green third wave. The first sub-wave blue wave entered the second blue wave correction after encountering pressure at 2726 yesterday, and broke through 2675 last night, extracting liquidity and rebounding. At the same time, the downward trend line of 2790 has been broken through, and rebounds occurred after two retracements. If there is another dip next Monday, it will also be a buying oppo
Got Stopped out?? Doesnt hurt to enter again on the bullish GoldWe were stopped out in our last entry, and this is the last and best shot we have got to catch the buy at the moment, at least temporarily, lets go guysss!!!
xau/usd continuation sell of from $2,678Gold has been showing clear structure to the downside on the 1H. However, on the 4H time frames and above we didn't actually see price further BOS to the downside buy rather it pushed back up the 8H imbalance to create EQH liquidity. This makes me wonder whether or not we will see a last push up from Gold before price then makes it way further down.
However, this week we can be sure to catch some sells on gold as we see a lot of bearish indication on the lower time frames. I am expecting for price to open and consolidate before it takes the ASH and potentially fails the 30min supply zones i have before reacting from the 6H supply. It is also possible that price may want to fill the 6h Imbalance above and actually react from the 4H supply instead.
If price truly wishes to respect these Asian highs and simply further react without having a significant retracement then I can potentially expect price to react from these lower time frame 30min supply order blocks.
Bears TurnGood luck all.
Facts:
- reached the top of a trendline that dates back to the 1980’s which I’ve seen other pros call the “1980’s battle-line” 👀 Monthly TF
- volume coincides with some braking power
- RSI seems pointy downward
- the 2015 trendline looks magnetic
- the weekly candle just closed 13th Dec speaks for itself - zoom for that one.
- the short term MA and FVG traders will be busy (or tired)
- the head and shoulders on that record high - you could frame that
- Wyckoff scout cracked through Ice
- as a ship on the trading seas then I would say this is a tack to the bear side, no rush though… see you in a few months/years? Patience probably for price to hit 2,150.
What could detract from golds appeal? Better opportunity cost elsewhere that gets faster returns? Could it get worse on the global political situation than it is right now really? Has the very recent (last 2 week) global escalations driven peaks beyond the high (no it hasn't)? Has the interest rate hype already been priced in? Is Trump lined up to do some deals that strengthen dollar and peace. make gold boring again?
Ah? Mmm...Shipsy.
⚓️ 🏴☠️ 🌊
XAUUSD SHORTBased on the RSI on higher timeframes, it looks like the price is likely to drop as the upward momentum is weakening, which can be seen in the price action.
Gold price faces strong headwinds ahead of Federal Reserve meet
After testing resistance at $2,700 at the start of the week, gold is once again on the back foot as stubborn inflation takes its toll on expectations surrounding the Federal Reserve’s easing cycle. The precious metal received a much-needed boost earlier this week as investors reacted to news that China’s central bank resumed buying gold. After a six-month break, data from the People’s Bank of China showed it purchased five tonnes of gold in November. According to many analysts, the data underscores China’s significant role in the gold market and highlights healthy central bank demand heading into 2025. ..
Is gold losing its important support level?Or, considering the resistance around 2672, after breaking this area, we could expect a rise towards the range of 2710 and 2749.
Otherwise, if the support level of 2638 is broken, a decline down to around 2606 can be anticipated.
Gold (XAU/USD) Analysis – Bearish Scenario UnfoldingGold has been showing clear bearish momentum on the 4-hour chart, and the current price action suggests further downside potential.
1️⃣ Rejection from the Strong High:
The price was firmly rejected at the $2,740 resistance zone, signaling the dominance of sellers in the market.
2️⃣ Weak Low Target Zones:
With the break of structure (BOS) confirming bearish intent, the price is now heading toward key liquidity zones around $2,620 and $2,580. These levels are likely to act as targets for the current downtrend.
3️⃣ Bearish Momentum Accelerating:
A series of Change of Character (CHOCH) events and lower highs further indicate that sellers are fully in control, with little evidence of bullish intervention so far.
📌 Bearish Targets:
The immediate target is $2,620.
If this level breaks, the next zone to watch is around $2,580, which could serve as the final destination for this bearish move in the short term.
Let me know if you're tracking this move or if you see additional bearish opportunities!
Could the price bounce from here?XAU/USD is falling towards the support level which is a pullback support that is slightly above the 61.8% Fibonacci retracement and could bounce from this level to our take profit.
Entry: 2,665.32
Why we like it:
There is a pullback support level that is slightly above the 61.89% Fibonacci retracement.
Stop loss: 2,620.34
Why we like it:
There is a pullback support level.
Take profit: 2,716.62
Why we like it:|
There is an overlap resistance level.
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Gold directionMy view of gold is that it still has a chance to climb. We can see it break level 2729. From there, it will go to level 2790.
BUY GOLD TO 2690Hi traders would like to share my forecast for XAUUSD Hope you have profitable trade
GOLD - Price can correct and then continue to grow in channelHi guys, this is my overview for XAUUSD, feel free to check it and write your feedback in comments👊
A few moments ago price bounced from $2710 resistance level and in a short time declined to $2536 points, breaking $2615 level.
Price started to grow inside a rising channel, where it soon broke $2615 level one more time and rose to resistance area.
But then, price corrected to support level, after which some time traded near it and then continued to grow.
In a short time, Gold rose to resistance level and then entered to resistance area, but later bounced down.
Thereby price makes a fake breakout of $2710 level, so, now I think that XAU can decline a little more.
After this, price can turn around and then rise to $2760, breaking resistance level inside a rising channel.
If this post is useful to you, you can support me with like/boost and advice in comments❤️
XAUUSD FORECAST 16 - 20 DECEMBER | SMART MONEY CONCEPTHere on Gold price making break of structure and now make a change of character so breaking below and later retest the supply zone which means is likely to continue falling and trader should prepare for shorting the market . Remember to use money management
XAUUSD: 12/12 Today's Market Analysis and StrategyGold technical analysis
Daily resistance 2725, support below 2627
Four-hour resistance 2725, support below 2675-50
Gold operation suggestions: Yesterday, the technical side of gold was suppressed and fell unilaterally in the volatile trading. The price of Asian and European sessions rose slightly and pierced the 2726 mark, oscillating and falling. The second rebound in the European session was under pressure, and the 2720 line fell downward and showed a unilateral decline. It accelerated downward in the US session and broke through the 2700 integer mark to reach a weak closing near 2675. The overall gold price showed a suppression adjustment pattern above 2726 in the short term, but the daily level technical indicators did not completely turn empty.
From the 4-hour analysis, we pay attention to the suppression of the opening drop 2725 line above, the short-term support of the 2675 line below, and the important support 2650 line below. In the short term, the gold price is expected to enter the long and short wide range of fluctuations. Sell high and sell low, and wait patiently for key points to enter the market.
BUY:2650near
BUY:2675near
The strategy only provides trading directions. Please use a small SL to test the signal.
Gold: AnalysisHello Traders,
We are around a volume POC and we might see some problem at going further.
Scalpers could take short trades with LTF Confirmations,
Intraday (week) Traders could take long trades after breaking the white line regarding the 2h chart.
Longer-term traders could wait for break out of the zone confirmed by 4h chart.
Remember that Trump presidency could affect the geopolitical analysis including giving an end to Russian illegal invasion of Ukraine that make capitals out of gold heading to Stocks, however it may have effects on Longer-term traders.
Gold can correct and then continue to grow to resistance levelHello traders, I want share with you my opinion about Gold. By observing the chart, we can see that the price some days ago fell to the support level, which coincided with the buyer zone and started to grow inside a broadening wedge. In this pattern, the price rose to the resistance level, which coincided with the seller zone and even broke it, after which continued to grow to the resistance line of the wedge pattern. After this, Gold made a correction to the seller zone and then in a short time backed up to the resistance line, but soon turned around and started to decline. Gold quickly fell lower the 2720 level, breaking it and also it exiting from a broadening wedge pattern. Then the price continued to fall and later reached the 2605 support level and even broke it too, after which made a retest and continued to fall to 2535 points. Later XAU turned around and started to grow inside the upward pennant, where it in a short time rose to a resistance level, breaking the 2605 support level, but then Gold made a downward impulse. After this, the price fell to the support line, but a not long time ago it exited from the pennant pattern and now continues to grow. In my mind, Gold can make a move down and then continue to rise to the 2720 resistance level. So, that's why I set my TP at this level. Please share this idea with your friends and click Boost 🚀
Gold next direction?There are a few things at play for Gold. Will keep an eye on the market close on 9th Dec and 10th Dec. Our Lions Club Millionaire Indicator might confirm an open sell.
There is no need to predict and rush the market. Let the chart speak, and opportunity manifest. 3 possible scenarios on the chart. Will keep you guys posted when I will trade in Gold But get ready for a turbocharged ride!!!
