XAU/USD : And Another Bullish Move Ahead! (READ THE CAPTION)
تم تحديثه
Gold prices have followed an interesting trajectory over the past 24 hours, aligning perfectly with our earlier expectations. After a strong rally, gold hit the critical target of $2656, reaching as high as $2664 before entering the marked supply zone. As anticipated, the supply zone acted as a resistance, triggering a sharp decline to $2642. This movement provided an excellent trading opportunity for those who closely monitored the levels outlined in our previous analysis.
Current Market Context
At the moment, gold is trading around $2650, navigating within a crucial range. The price action suggests that gold is testing the resilience of buyers and sellers. If it stabilizes above $2644, we could see further bullish momentum, with the potential to hit the following targets:
• $2655 – A minor resistance level, which could set the tone for stronger upward momentum.
• $2661 – The next key level, signaling continued bullish strength.
• $2666 – A level of psychological resistance, marking a significant test for buyers.
• $2673 – The ultimate target for this leg of the rally, contingent on sustained demand and favorable conditions.
Fundamental Factors Driving Gold Prices
Gold's current trajectory has been influenced by a mix of technical setups and fundamental drivers:
• U.S. Economic Data: Robust job market data released earlier this week highlights the resilience of the U.S. economy. Job openings rose to 8.09 million in November, reflecting strong economic activity. However, this has bolstered the U.S. dollar and treasury yields, creating headwinds for gold as a non-yielding asset.
• Federal Reserve Policy Outlook: Expectations for further rate cuts by the Federal Reserve have diminished, as recent comments from Fed officials suggest a cautious approach to monetary easing. Fed Governor Lisa Cook emphasized that the Fed may slow down rate cuts due to persistent inflation.
• Central Bank Gold Demand: On the bullish side, the People’s Bank of China (PBOC) increased its gold reserves for the second consecutive month, a move that reflects sustained demand for the metal from the world’s largest consumer. Central bank purchases, particularly in the context of geopolitical uncertainties, have continued to support gold prices globally.
Technical Insights
From a technical standpoint:
• Support Levels: If gold fails to hold above $2644, we could see a deeper retracement toward $2633 and possibly $2625. These levels represent the nearest support zones where buyers may re-enter the market.
• Resistance Levels: On the upside, the supply zone between $2664 and $2673 will be a critical area to watch. A break and sustained close above $2673 could signal the start of a new bullish trend.
• Market Sentiment: Despite recent volatility, sentiment remains cautiously optimistic, with traders closely watching global economic data and U.S. Federal Reserve updates for further direction.
Looking Ahead
Key events later this week, including U.S. jobs data and the ADP employment report, will likely have a significant impact on gold's short-term direction. Traders should also keep an eye on movements in the U.S. dollar index (DXY) and treasury yields, as these remain inversely correlated with gold prices.
Action Plan: For now, the focus remains on how gold reacts around $2644. If the metal stabilizes above this level, traders can look for opportunities to target $2655, $2661, and beyond. Conversely, a breakdown below $2644 could lead to short-term selling pressure, offering opportunities for a potential retracement trade.
Stay tuned for further updates and detailed analysis! Let’s capitalize on these market moves!
Please support me with your likes and comments to motivate me to share more analysis with you and share your opinion about the possible trend of this chart with me !
Best Regards , Arman Shaban
Current Market Context
At the moment, gold is trading around $2650, navigating within a crucial range. The price action suggests that gold is testing the resilience of buyers and sellers. If it stabilizes above $2644, we could see further bullish momentum, with the potential to hit the following targets:
• $2655 – A minor resistance level, which could set the tone for stronger upward momentum.
• $2661 – The next key level, signaling continued bullish strength.
• $2666 – A level of psychological resistance, marking a significant test for buyers.
• $2673 – The ultimate target for this leg of the rally, contingent on sustained demand and favorable conditions.
Fundamental Factors Driving Gold Prices
Gold's current trajectory has been influenced by a mix of technical setups and fundamental drivers:
• U.S. Economic Data: Robust job market data released earlier this week highlights the resilience of the U.S. economy. Job openings rose to 8.09 million in November, reflecting strong economic activity. However, this has bolstered the U.S. dollar and treasury yields, creating headwinds for gold as a non-yielding asset.
• Federal Reserve Policy Outlook: Expectations for further rate cuts by the Federal Reserve have diminished, as recent comments from Fed officials suggest a cautious approach to monetary easing. Fed Governor Lisa Cook emphasized that the Fed may slow down rate cuts due to persistent inflation.
• Central Bank Gold Demand: On the bullish side, the People’s Bank of China (PBOC) increased its gold reserves for the second consecutive month, a move that reflects sustained demand for the metal from the world’s largest consumer. Central bank purchases, particularly in the context of geopolitical uncertainties, have continued to support gold prices globally.
Technical Insights
From a technical standpoint:
• Support Levels: If gold fails to hold above $2644, we could see a deeper retracement toward $2633 and possibly $2625. These levels represent the nearest support zones where buyers may re-enter the market.
• Resistance Levels: On the upside, the supply zone between $2664 and $2673 will be a critical area to watch. A break and sustained close above $2673 could signal the start of a new bullish trend.
• Market Sentiment: Despite recent volatility, sentiment remains cautiously optimistic, with traders closely watching global economic data and U.S. Federal Reserve updates for further direction.
Looking Ahead
Key events later this week, including U.S. jobs data and the ADP employment report, will likely have a significant impact on gold's short-term direction. Traders should also keep an eye on movements in the U.S. dollar index (DXY) and treasury yields, as these remain inversely correlated with gold prices.
Action Plan: For now, the focus remains on how gold reacts around $2644. If the metal stabilizes above this level, traders can look for opportunities to target $2655, $2661, and beyond. Conversely, a breakdown below $2644 could lead to short-term selling pressure, offering opportunities for a potential retracement trade.
Stay tuned for further updates and detailed analysis! Let’s capitalize on these market moves!
Please support me with your likes and comments to motivate me to share more analysis with you and share your opinion about the possible trend of this chart with me !
Best Regards , Arman Shaban
ملاحظة
Drop your prediction for Gold’s closing price at the end of the week in the comments section of the analysis. أغلقت الصفقة: تم الوصول للهدف
In the 4-hour timeframe, Gold has impressively reached all the targets from the previous analysis ($2655, $2661, $2666, and $2673), even surpassing them to touch $2674! This bullish momentum could extend further, with $2679 identified as the next target.
Keep a close eye on the price's reaction within the $2679 to $2692 range. Key levels for potential Sell positions include $2678.9 and $2690, offering promising opportunities with a success rate of over 70%. Monitor these levels for optimal entries!
Let’s see how the market unfolds—stay sharp!
✅
GOLD : $2655 target reached ✅
✅
GOLD : $2661 target reached ✅
✅
GOLD : $2666 target reached ✅
✅
GOLD : $2673 target reached ✅
✅ Full Target Reached, Cheers! 💪🏼🥂
ملاحظة
As observed on the 4-hour chart, gold performed exceptionally well yesterday, aligning with our expectations by reaching the $2679 level. This remarkable move added another impressive gain to our portfolio, with total returns exceeding 600 pips so far!
When gold hit the $2679 mark yesterday, it experienced a sharp decline, as anticipated, since this was highlighted as a potential sell zone with a success rate of over 70%. The price dropped by more than 150 pips, reaching $2662 before encountering renewed buying pressure.
Currently, gold has surged again and is trading around $2683. As we mentioned earlier, the $2679 - $2692 zone remains a critical supply area. With today’s Non-Farm Payroll (NFP) report, we are closely watching for a rejection and potential decline from this zone. Alternatively, we might see gold temporarily breach the $2693 level to gather liquidity before any significant reversal.
I’m also actively scouting for another exciting trading setup in the 15-minute timeframe or lower, aiming to share it with you soon. If everything aligns, we may push our weekly returns to over 1000 pips!
Thank you for your unwavering support, dear followers. Together, we continue to achieve outstanding results in the markets!
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