XAUUSD Technical Analysis

XAUUSD 1h

2024-08-07 @ 10:38

???? Alerts Technical Indicator / Pattern 1. Major Support2. S-T Support Line *All alerts will sent to the Telegram Channel.

05Aug

Gold Trend 05/08 – The spot gold price is losing upward momentum despite the expectations of a Fed. Rate cut increasing

2024-08-05 @ 15:48

The spot gold price went up during the week but fell after Friday’s US non-farm payroll report. Looking back at last week, the price broke through the 2400 resistance before the Fed—meeting on Wed. The price kept on rising after Powell’s dovish speech, and tensions rose in the Middle East as Iran’s leader ordered attacks on Israel in response to the assassination of a Hamas leader. The US released weaker-than-expected job data on Fri., causing gold prices to hit a weekly high a

23Jul

XAUUSD 1h

2024-07-23 @ 11:55

???? Alerts Technical Indicator / Pattern 1. Major Support2. S-T Resistance Line *All alerts will sent to the Telegram Channel.

22Jul

Gold Trend 22/07 – Failed to clear 2450

2024-07-22 @ 17:11

Entering a consolidation cycle after gold failed to stay above 2450. Gold price broke through the previous historical high of 2450(1) early last week on Tuesday, triggering a round of buying and rising to a weekly high of 2483 within 24 hours. However, the upward momentum failed to carry on at a high level. According to the market data from CME, gold futures showed significant new short positions entering the market on Wednesday. Short-selling accelerated after the U.S. released manufacturing da

15Jul

Gold 15/07 – Preparing for a new high ?

2024-07-15 @ 11:55

The gold price was stimulated by the easing inflation data from the US last week, breaking through the post-non-farm resistance of 2391(2) and touching a four-week high of 2424. Referring to CME gold futures’ data, the total number of Open Interest last Friday reached the highest level of 540k contracts, which is above the 530k contracts at the time of the record high of 2450 in May, a bullish sign as more funds are now attracted by the gold market. Not many important economic figures are