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Xauusdsetup

XAUUSD: Gold price is limited to increase with PPIMarket participants are currently examining the economic records of the United States, which include the release of the Producer Price Index (PPI), along with preliminary consumer sentiment and inflation expectations. This, coupled with US bond yields, can impact the driving forces behind USD prices and provide some impetus for gold prices. Additionally, a broader risk sentiment allows traders to seize short-term opportunities. However, XAU/USD ended in red for the third consecutive week and announced its lowest weekly closing level since March.
OANDA:XAUUSDLong
by Sphyn-Trader
1
XAUUSD: Gold prices continued to fall!After experiencing a decline, the price of gold rebounds and breaks its three-day losing streak in the Asian trading session on Thursday. Currently, XAU/USD is trading around 1918, showing a 0.22% increase for the day. Traders in the gold market will closely monitor the release of the US Consumer Price Index (CPI) later today during the American session. It is anticipated that inflation will rise from 3% to 3.3%, while core inflation is expected to remain at 4.8%.
OANDA:XAUUSDShort
by Sphyn-Trader
6
7 Dimension Analysis For GOLD /XAU 😇 7 Dimension Analysis Time Frame: Daily 1️⃣ Swing Structure: Bullish 🟢 Structure Behavior: A bullish Choch was completed on July 18th. 🟢 Swing Move: After Choch The corrective phase is nearing its target zone. 🟢 Inducement: Waiting for a reversal inducement to confirm the low and enter an impulsive move. 🟢 Pullback: Following a substantial corrective swing, the first impulsive pullback has occurred, showcasing notable strength based on historical data. Extreme Order Block has been mitigated, providing a favorable demand signal. Time Frame Confluence: Daily and Weekly 🟢 Internal Structure: A bullish Choch has been established, and the corrective move has been completed. 🟢 Trendline Breakout: The initial signal for entry or exit is a trendline breakout. Currently awaiting a breakout above trendline resistance and CIP (Change in Polarity). 🟢 Chart Patterns: A reversal pattern of a Head and Shoulders formation is evident. An upside breakout from the Falling Wedge pattern will confirm the setup. 🟢 Candle Patterns: Relevance is observed, confirming the demand zone based on various studies. Doji: Gravestone Momentum: A strict engulfing pattern; there seems to be FOMO selling at this point. Inside Bar: Today's candle is inside the previous momentum candle and forming gravestone candle. Climax players appear to be entering the market, potentially indicating FOMO selling at the support trendline. 3️⃣ Volume: Significant volumes are evident throughout the entire move, suggesting a significant event. Despite substantial volume, price movement remains subdued. This volume divergence could imply an impending sharp move upon breaking above the resistance trendline. Volume during the entire swing cycle is impressive. 4️⃣ Momentum RSI: 🟢 Zone: Currently in a sideways zone. 🟢 Range Shift: Shifting from Bearish to Sideways, finding support at the 40 level. 5️⃣ Volatility Bollinger Bands: 🟢 A Headfake-type formation is emerging at the swing high, although it is yet to be confirmed. 🟢 The last leg is expected to start, with a high likelihood of initiating a reversal. 6️⃣ Strength ADX: According to ADX, the market is mostly sideways, with bears holding a slight advantage over bulls. 7️⃣ Sentiment ROC: The Rate of Change indicates that Gold is stronger than USD, providing clarity in sentiment. ✔️ Entry Time Frame: H1 ✅ Entry TF Structure: Bearish, yet the move is nearing completion, potentially prompting a reversal. ☑️ Current Move: Impulsive, waiting for confirmation through internal bullish choch or trendline breakout. ☑️ Candles Behavior: Observing Record Session Count, Longwicks, Doji, Inside Bars, and Momentum patterns, all suggesting possible reversals. ☑️ FIB Trigger Event: Already occurred, indicating a swing liquidity sweep. ☑️ Trendline Breakout: Awaiting confirmation. ☑️ Final Comments: Plan to buy upon trendline breakout. 💡 Decision: Buy 🚀 Entry: Approximately 1934 ✋ Initial Stop Loss: Placed at 1911, to be trailed to 1920 once price surpasses 1938. Additional position to be added in gold. 🎯 Take Profit: Initial target at 1999, considering secondary exits based on changes in internal structure or trendline breakout, including potential FOMO action. 😊 Risk to Reward Ratio: 1:5 🕛 Expected Duration: 20 Days Summary: The comprehensive analysis indicates a bullish swing structure with potential impending reversals. Various chart patterns, candlestick formations, volume dynamics, and momentum factors are considered for this analysis. The planned entry strategy involves awaiting a trendline breakout. The expected trade duration is 20 days, with a risk-to-reward ratio of 1:5. If YOU want become a professional trader and analysis like this don't hesitate contact my any time
OANDA:XAUUSDLong
by Optimum369
2
XAUUSD: Reducing wedge continues to work!Open interest in gold futures markets fell for a row on Tuesday, this time by around 3.2k contracts, according to preliminary data from CME Group. Instead, volume kept its erratic performance and increased by about 42.3k contracts following the previous daily drop. Gold is facing initial dispute around 1900 The falling wedge formed is due to a further decline in open interest, which should support the near-term recovery. So far, the 1900 area emerges as a good competition for the time being.
OANDA:XAUUSDShort
by Sphyn-Trader
10
XAUUSD: Firmer US Treasury bond yields!Gold Price (XAU/USD) stays depressed around 1,935 after the beginning of the trading week with mild losses. That said, the XAU/USD manages to keep the bears on board amid technical breakdown, as well as the firmer prints of the United States Treasury bond yields, despite a sluggish US Dollar ahead of this week's inflation data from the US and China. Also an absence of major macros and the market’s inaction limits the yellow metal’s immediate moves ahead of top-tier data/events. Support levels: 1,922.95 1,911.80 1,898.10 Resistance levels: 1,944.95 1,954.70 1,966.90
OANDA:XAUUSDShort
by Sphyn-Trader
1
XAUUSD: The market is gloomy due to the lack of news!In the day ahead, risk sentiment will play an important role in US Dollar dynamics, as there is no important economic data to be released from the North American economy. Meanwhile, speeches by Fed policymakers could also be scrutinized for fresh hints about the central bank's policy outlook. However, any move is likely to remain limited for the Greenback, as well as Gold prices ahead of the release of all-important US CPI data on Thursday. Predicting a slight increase to the 195x price zone and sideways in the short term!
OANDA:XAUUSDLong
by Sphyn-Trader
1
XAUUSD: Non-Farm and What Happens After!Gold (XAU/USD) is on a slight uptrend as it stabilizes after previous declines, helped by positioning ahead of the release of Non-Farm Payrolls (NFP) data. Another factor contributing to the mildly positive sentiment for Gold is news of potential stimulus measures in China and US Treasury yields falling from their highest levels since November 2019. 2022. It is important to note that recent mixed signals regarding US employment and economic activity have not impressed the USD bulls, thus allowing XAU/ USD gains gradually after recovering from three-week low. XAUUSD OUTLOOK: The future of gold will be unpredictable, but the gold trend still favors the buyers
OANDA:XAUUSDLong
by Sphyn-Trader
4