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Is NFP non-agricultural data good or bad for gold?At the beginning of the Asian session on August 1, spot gold fluctuated in a narrow range and is currently trading around $2,436/ounce. Gold prices rose by nearly $40 on Wednesday. The interest rate remained unchanged in yesterday's Federal Reserve meeting, which was in line with market expectations. Powell's speech later gave news of a possible interest rate cut in September and the increasingly tense situation in the Middle East. Gold prices will face new large fluctuations. The upcoming non-agricultural data will surely attract a large number of gold investors. Do you think this wave of gold is good or bad? Welcome everyone to actively discuss
TVC:GOLD
by David_strategy
XAU/USD 02 August 2024 Intraday AnalysisH4 Analysis: Analysis/Bias remains the same as yesterday's analysis dated 31 July 2024. -> Swing: Bullish. -> Internal: Bullish. Price has printed a swing BOS, printing an all time high. After BOS/iBOS price is expected to pullback. Last analysis and intraday expectation was for price to pull back into discount of 50% EQ or H4 demand zone before targeting weak internal high which currently seems underway, therefore, intraday expectation remains the same. H4 Chart: M15 Analysis: -> Swing: Bullish. -> Internal: Bullish. Price has now printed a bullish iBOS aligning itself with swing structure. Price has reacted at H4 supply level to possibly initiate bearish pullback phase. CHoCH line is denoted with a blue dotted line with price yet to print bearish CHoCH to indicate bearish pullback phase initiation. Intraday expectation: Price to print bearish CHoCH, trade down to either discount of 50% EQ or M15 demand levels before targeting weak internal high. Alternative scenario: Price to continue bullish to reposition CHOCH closer to current price action. To then trade down to discount of 50% EQ or M15 demand levels before targeting weak internal high. M15 Chart:
OANDA:XAUUSD
by Khan_YIK
Gold Daily Analysis and forecast !! Massive drop expectedGood day Traders !! Daily : On the Daily timeframe we clearly have a downtrend channel and we have been respecting it since early August 2020 and we expect to reach the lower trendline soon. We have an "M" formation that was printed last week and we expect the price to retest the neckline before the continuation of the impulse correction impulse pattern. We might be looking at a day or two of retracement before the huge move to the downside. Also we have a confluence of resistance at this area since it's the 0.382 FIB level and we would like to see the market retrace to that level after an overextended "M" formation. From an institutional perspective we have on Gold a massive drop of the Net position since we went from 280,000 Net position back in early January until 190,000 on the last report that was posted last Friday. Also during the last four report institutions have added a lot of short position and closed close to 50,000 Long position. This is a sign of the very bearish move that is expected. Now if you enjoyed this analysis smash that like button and share. If you have a different opinion please leave a comment below as I would love to get more insights and ideas. I also linked my previous idea about this asset. Trade safe !!!
OANDA:XAUUSD
by TheDayzen
GOLD DAILY 09/03/2018Gold closes below the daily pivot for today, and forms a lower low and lower high, the chance of a price increase will continue to move lower. First Option: -Open short positions below the first daily resistance ($ 1206.72 / oz) if the price rises above the pivot but cannot pass and hold above the first daily resistance. -TP1 on the daily pivot ($ 1202.46 / oz) -TP2 at the first daily support ($ 1196 / oz) if the price moves past the pivot. -SL at a few points above the first daily resistance or on previous swing high. -Wait for confirmation to open a position Second Option: -Open short positions below the daily pivot ($ 1202 / oz) if the price can't go above and stay above the daily pivot. -TP1 at the first daily support ($ 1196 / oz) -TP2 at the second daily support ($ 1191 / oz) -Wait for confirmation to open a position
TVC:GOLDShort
by yanuarmanalif