XAUUAD - Gold Forecast For 20 May 2024 - ImageImage of my Gold (XAUUSD) forecast for the Week starting 20 May 2024 There is also a video analysis if you want it, just search it. Longby TraderRiz5
Gold Expected To Rise Due To Lower Inflation NumbersHere is why we think gold prices will go up (FUNDAMENTAL ANALYSIS) Lower Core Inflation Numbers and Potential Fed Rate Cuts: The recent core inflation report came in weaker than expected, signaling a sluggish economy in the United States. This unexpected weakness has raised speculation that the Federal Reserve may consider cutting interest rates to stimulate economic growth. Impact of Weak Core Prices: Weak core prices provide the Federal Reserve with greater rationale to implement interest rate cuts. Lower interest rates typically weaken the dollar as they make dollar-denominated assets less attractive relative to other currencies. Consequently, a weakened dollar often leads to upward pressure on gold prices. Potential Fed Policy Response: In response to concerns over weak core prices, the Federal Reserve may contemplate lowering interest rates to stimulate economic activity. By reducing borrowing costs, lower interest rates can encourage consumer spending and investment, thereby bolstering economic growth. However, this policy action tends to weaken the dollar, which can benefit gold prices. Gold as a Safe-Haven Asset: Gold is often viewed as a safe haven asset during times of economic uncertainty and inflation. The prospect of interest rate cuts by the Federal Reserve can further enhance gold's appeal, as lower interest rates typically diminish the opportunity cost of holding non-yielding assets like gold and signal a upcoming recession. Here is what to watch out for that might stop it from going up: Market Response and Federal Reserve Policy Decisions: Market participants should closely monitor any signals or announcements from the Federal Reserve regarding interest rate decisions, as they can significantly influence investor sentiment and, consequently, gold prices. For example if inflation rises, it becomes more likely for the Federal Reserve to not cut rates, well expect gold prices to plummet. Economic Indicators and Geopolitical Developments: It's important to stay attuned to key economic indicators, central bank policies, and geopolitical developments that could impact gold markets. Any shifts in these factors could alter the trajectory of gold prices. (TECHNICAL ANALYSIS) Trade setup explained: Take-Profit: is set at 2426 due to a strong area there ( see green line ) Stop-Loss: is set at 2338 which is right under 2344, 2344 has been showing stronger support. Conclusion: The prospect of interest rate cuts by the Federal Reserve, driven by concerns over weak core prices, has contributed to upward pressure on gold prices. As lower interest rates tend to weaken the dollar, gold becomes more attractive as a safe-haven asset, thus supporting its price. However, market participants should remain vigilant and adapt their strategies in response to evolving economic conditions and policy decisions. Like always use proper risk-management. Greetings, Zila Longby ZILATRADESUpdated 8
XAGUSD SELL About to StartIn smaller timeframe Silver start to show bearish signal Shortby PotentFXUpdated 8
Gold will face a temporary resistance around 2600$a lot of people will see 2700$ as the next target but for me, I notice there is a shallow retrace down to 0.764 or 2280$ area so we will see a choppy up and down to 2600$ and a resistance to 1.272 fibo or 2600 bull will be weak as long no strong news even with strong news will see resistance again on 1.382 fibo or 2270-2700$ take note that fibo analysis not reliable on gold, so we need a further analysisLongby salvanostUpdated 3
🔥GOLD HIGH SHORT SELLING✅Gold retreated with a small negative line on the daily line, failing to continue the previous day's strong closing. After the Asian session inertia high, it fell under pressure and reached the highest level of $2,397. The rebound of the US dollar from a low level limited the upward momentum of gold in the short term. The daily line formed a small cross negative line and turned to a volatile trend. The unilateral strength was not strong in the short term. The second high exploration process was insufficient in sustainability. Today's weekly line closed higher and is expected to end with volatility. The 4-hour chart shows that the support point of the rising trend line is $2,350, which is also the defense point of the bulls. The middle track support is around $2,373. The short-term 4-hour chart is in an upward trend, but the hourly chart lacks the momentum to break high, and the strong rebound of the US dollar has weakened the upward momentum of gold. It is expected that today's trend will tend to be slightly adjusted. The key support levels are around $2,365 and $2,346, and the resistance levels are around $2,380 and $2,400. Breaking through these levels may support the continuation of the bull trend or suggest a possible pullback. On the whole, , today's short-term gold operation advice is to focus on shorting on rebounds, supplemented by longs on callbacks. The short-term focus on the upper side is the 2382-2386 resistance range, and the short-term focus on the lower side is the 2350-235 support range.by MasterGoldTraderUpdated 19
XAUUSD. Weekly trading levels 20 - 24.05.2024Not much has changed on Gold. We haven’t been to the top yet, there’s no data there. If we update the historical maximum, you can find out more in the Daily Gold posts. During the week you can trade from these price levels. Finding the entry point into a transaction and its support is up to you, depending on your trading style and the development of the situation. Zones show preferred price ranges WHERE to look for an entry point into a trade. If you expect any medium-term price movements, then most likely they will start from one of the zones. Levels are valid for a week, the date is in the title. Next week I will adjust the levels based on new data and publish a new post. ! Please note that brokers have a difference in quotes, take this into account when trading. The history of level development can be seen in my previous posts. They cannot be edited or deleted. Everything is fair. :) ---------------------------------------------- I don’t play guess the direction (that’s why there are no directional arrows), but zones (levels) are used for trading. We wait for the zone to approach, watch the reaction, and enter the trade. Levels are drawn based on volumes and data from the CME. They are used as areas of interest for trading. Traded as classic support/resistance levels. We see the reaction to the rebound, we trade the rebound. We see a breakout and continue to trade on a rollback to the level. The worst option is if we revolve around the zone in a flat. Do not reverse the market at every level; if there is a trend movement, consider it as an opportunity to continue the movement. Until the price has drawn a reversal pattern. Don't forget to like Rocket and Subscribe!!! Feedback is very important to me! by Forex_Hoby4
DeGRAM | GOLD bullish takeoverGOLD continues to move in the ascending channel. After a pullback from the psychological level, the price reached the upper boundary of the area formed by a wide-range candle, where the chart immediately reacted with a bullish takeover. Now XAUUSD is trading near the resistance level, which coincides with the 62% retracement level of yesterday's pullback. We expect growth to continue after a retest of the current level. ------------------- Share your opinion in the comments and support the idea with like. Thanks for your support!XLongby DeGRAM119
Oil long soonI love this Oil long chance here, Aiming for 87-90 area or anywhere in the rectangle. Conservative traders can wait for a break of the channel to get long. I will do the same. Longby TechknowLobster5
Trading Signal For Gold Trading Setup: There is a Trading Signal to Buy in Gold XAUUSD (m15) Traders can open their Buy Trades NOW ⬆️ Buy Now or buy on 2378.0 ⭕️SL @ 2362.6 🔵TP1 @ 2424.2 🔵TP2 @ 2449.1 🔵TP3 @ 2470.0 What are these signals based on? Classical Technical Analysis Price Action Candlesticks Fibonacci RSI, Moving Average , Ichimoku , Bollinger Bands Risk Warning Trading Forex, CFDs, Crypto, Futures, and Stocks involve a risk of loss. Please consider carefully if such trading is appropriate for you. Past performance is not indicative of future results. If you liked our ideas, please support us with your likes 👍 and comments . Longby pullbacksignal9
GOLD → The realization phase is taking shape. Target 2450?FX:XAUUSD is strengthening well on the background of weakening dollar index, related to fundamental reasons (news on inflation). Gold's strengthening may continue, but after a correction. Bulls are interested in 2378-2350 area. The main task is to take the defense above the key liquidity and support zones. Confirmation of the end of the correction phase on H4-D1 is forming and the market is moving into the bullish phase, forming a strong realization in the form of distribution. Practically, we should wait for support retest and consolidation above the level with the aim to continue growth towards 2400-2450. Today at 12:30pm Initial Jobless Claims is published, analysts are expecting a decline in the index, which could be a bullish scenario, but actual data above 219K could weaken the dollar, while below it could strengthen. Resistance levels: 2397, 2400 Support levels: 2378, 2352 The local correction phase may be stopped near the key levels, but it all depends on the news, if they confirm the general fundamental background, the gold growth will continue, otherwise, the local correction will drag down to 2350. Regards R. Linda!XLongby RLindaUpdated 6670
XAUUSD : Continue to increase prices!Brian greets everyone. Today, gold has regained its upward momentum, reaching its highest level in nearly a month at over $2,400. Despite the U.S. 10-year benchmark yield remaining stable around 4.4%, the market's cautious stance has supported XAU/USD heading into the weekend. The price is expected to continue rising in the coming days, moving towards the designated area as it has successfully broken through several key resistance levels and gained new support at those breakout points.by Trader_BrianFX4
Gold breaks 2400 today Gold broke through multiple levels yesterday and Wednesday, 2360-2365, 2380-2385, and is currently hovering at the 2400 resistance. From the current point of view, the upward trend of gold should not be over yet, so here we still have to be wary of the possibility that gold will continue to rise. Judging from the current 4-hour chart: At present, gold's first support position is near 2380. 2380 is actually near yesterday's suppression point. After breaking through 2380, this position will obviously become a support position. Therefore, we still cannot go short rashly here. If it pulls back to around 2380 and stabilizes again, there is a high probability that it will rise again, and there is a high probability of directly breaking through 2400. Therefore, for the next operation, I suggest that you pay attention to the support position near 2380. If it can pull back to this price, you can enter the market to buy and look towards the high point near 2400.Longby money-making-machine-Updated 6
Silver - How long have you waited?Silver 30 year Cup & handle break out. Is the silver squeeze finally happening? Credit to @EdTheLorax calling it by Azzzz2
XAUUSD Final detination at 2537 ?? All it possible on Massive target at 1.68 5th Wave 2537 level at Time CT 34 week (next two week)Longby Louis_Paul4
How GOLD going to 2525$ ?Hello everyone Gold for this week still, the direction of gold is upward. There is only one zone which has a potential to bring gold back a little bit down which starts at 2424$ - 2436$ this zone can bring all down to 2387$, the zones of buying gold start at 2387$-2381$ and 2370$- 2366$ these two zones have a potential to rise gold to 2474$ I’m the second target maybe to 2525$ . this is only my analyses please do not risk with it.Longby MajdAbdolMajeed3
XAUUSD SETUP ON THE WEEKLYTechnical Analysis Recently we've seen GOLD resistances on multiple timeframes... The surge 3750.8 points on Friday was very crucial in breaking the resistance on the daily (2383.69). The weekly breaking the resistance at 2392.07 from 4 weeks back is a bullish move and since there is no much resistance level after 2392.07, GOLD should easily make a fresh all time high, and continue to move even higher. Longby Kabelo_Dale2
❓ New ATH for GOLD? Multitimeframe context ❓Bullish confluence for GOLD on MTF, LTF and HTF Expecting new ATH next week ☝️Do not act based on my analysis, do your own research!! The main purpose of my resources is free, actionable education for anyone who wants to learn trading and improve mental and technical trading skills. Learn from hundreds of videos and the real story of a particular trader, with all the mistakes and pain on the way to consistency. I'm always glad to discuss and answer questions. 🙌 ☝️ALL ideas and videos here are for sharing my experience purposes only, not financial advice, NOT A SIGNAL. YOUR TRADES ARE YOUR COMPLETE RESPONSIBILITY. Everything here should be treated as a simulated, educational environment. Important disclaimer - this idea is just a possibility and my extremely subjective opinion. Do not act based on my analysis, do your own research!!Longby Yelli_tradesUpdated 113
GOLD ON A STRONG BULLISH CHANNEL HEADING NORTHGold has once again surged from the support level near the $2280 - $2290 region. This recent rally has established a robust bullish channel on the daily timeframe, pushing the price back to the significant resistance around $2410. We might observe a minor reversal within the channel before the price resumes its upward movement after the pullback. This continuation is anticipated to mark the completion of the 5th wave, which is expected to extend further to the upside.Longby traderchamp_5
silver Silver broke and tested resistance 1 in the Fibonacci channel. Its new target will be 1.618 Fibonacci resistance.Longby foxforex32
Gold bigger pics. 18/May/24XAUUSD probably is forming an expanding flat pattern ABC (yellow circled) on wave IV ( blue) of an ending diagonal pattern in wave (c)(Red)by SteveTan2
Gold - UptrendGold is currently trading in an uptrend on the 30-minute timeframe. = The first target is near $2363, = a break of this level will take us to the second profit target at $2378, = and a break of that will take us to the third target at $2394. Stop loss should be placed at 2345$.∗Longby zbillionaire1Updated 4
Gold: Vulnerable Dollar Index (DXY) with Possible UpsideHey Traders, in today's trading session we are monitoring XAUUSD for a buying opportunity around 2370 zone, Gold is trading in an uptrend and currently is in a correction phase in which it is approaching the trend at 2370 support and resistance area. we would also like to consider the current bearish momentum on DXY, the recent CPI data made DXY drop as CPI didn't exceed the 0.3, a weak dollar is usually good for Gold due to the negative correlation. When the dollar price drop the gold becomes more interesting to investors as it's mainly purchased in the USD. Trade safe, Joe.Longby JoeChampion11