XAU/USD Discussion & Chart Share

XAU/USD forecasts and predictions, chart sharing, comments, and questions.

LIVE CHART HERE :point_down: :point_down: :point_down:
XAU/USD Weekly Chart - Gold (troy ounce) to US Dollar

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XAU/USD Weekly Analysis 21-08-2023

The XAU/USD pair was very bearish last week and the next month’s futures closed at $1,918 with losses of more than 1.40%.

Gold completed three downward weeks after the US dollar continued its strengthening, and with the current market sentiment, pushing down gold prices.

Another factor pushing down the gold price (and also other commodities and the stock markets) is a big rise in bond yields since they are for investors an alternative to the haven assets universe.

The US 10-year notes passed the 4.25% interest last week and are considered a good low-risk solution, according to many analysts. With the current market conditions, the fall for gold prices should be greater but the deterioration of the international economic climate due to China’s economy and inflation and the expectations of new interest rate hikes by central banks is currently bearing the selling pressure for gold.

The key event for this week is the Jackson Hole Symposium and any public announcements that will be made there. Looking at the weekly chart, we can see the bear trend in full play, and the preference for this week is selling with a TP of $1,840.

XAU/USD Weekly Analysis 28-08-2023

Let’s look at the recent performance of the XAU/USD pair and the factors influencing it. Here’s a recap of the key points:

  1. Bullish Week for Gold: Gold had a bullish week, with the next month’s futures closing at $1,942 and recording profits of over 1.26%. This rally came after three consecutive bearish weeks.

  2. Gold as a Safe Haven: Gold, often considered a safe-haven asset, appeared to benefit from the stabilization of bond yields, as rising yields had previously put pressure on the precious metal. Investors turned to gold as a low-risk alternative, despite the concurrent rise in the US dollar.

  3. Negative Investor Sentiment: Negative sentiment among investors has been growing due to concerns about the global economy. Analysts have been discussing the possibility of a recession in various regions, and the prospect of multiple interest rate hikes by major central banks has added to the uncertainty.

  4. Jerome Powell’s Hawkish Tone: Jerome Powell’s speech at the Jackson Hole Symposium, interpreted as hawkish by the markets, further reinforced concerns. Powell’s remarks indicated the Federal Reserve’s commitment to addressing inflation, potentially through further rate hikes.

  5. Chinese Economic Data: Weak economic data from China has contributed to negative sentiment. China’s upcoming release of manufacturing data, combined with key US announcements (GDP, PCE, NFPs), is expected to drive increased volatility in the gold market.

TRADE IDEA:
Preference for Short Positions: Given the recent downtrend in gold and the factors influencing the market, the preference this week is for short positions in gold, with an immediate TP to the low of last week’s, around $1,885/84.

XAU/USD UPDATE :hourglass_flowing_sand:

After price printed CHoCH it retraced back to take liquidity and then shoot to the top

Now price is approaching the key area of interest to take the liquidity for it to drop down to take the liquidity created below before it shoot to the top

And when price will break that blue area of supply then we should keep a watch at that black horizontal line above as it serve as an area of supply where liquidity has been engineered

Let’s keep a watch and wait!

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XAU/USD Weekly Analysis 04-09-2023

Let’s look at the recent performance of the XAU/USD pair and the factors influencing it. Here’s a recap of the key points:

  1. Gold experienced a bullish week, with next month’s futures closing at $1,966 and profits exceeding 1.20%.

  2. It’s noteworthy that gold had two consecutive bullish weeks, which is somewhat unusual considering that gold and the US dollar typically have a negative correlation. Gold is denominated in US dollars.

  3. The Federal Reserve (FED) has implemented several interest rate hikes, and despite this, the US jobs market appears to be holding at a decent level, as indicated by the Non-Farm Payrolls (NFPs) data released last Friday.

  4. The JOLTS (Job Openings and Labor Turnover Survey) data raised some concerns, and interestingly, it coincided with the most significant rise in gold prices during the week.

  5. Despite the positive NFPs, lower inflation, as indicated by the Personal Consumption Expenditures (PCE) and average hourly earnings data, contributed to a mild correction in gold prices, causing a pullback from $1,980.

  6. Gold benefited from declining bond yields, which are considered a competing asset class for low-risk investments.

Based on this analysis, and the chart’s PA, long positions are preferred for the current week, taking into account the recent bullish trend in gold, despite some fluctuations driven by economic data and interest rate hikes. The TP for this week’s long trades should be around the $1,959 mark (where strong resistance is waiting).

photo_2023-09-05_17-28-05

XAU/USD UPDATE :hourglass_flowing_sand:

Price reacted from that black horizontal line (area of liquidity) as anticipated and moved all the way down after it shown sign of trend shift from it .

Price is more likely to come to that area of liquidity below and shoot to the top from there ,minimum targeted price level is 1967.517 :dart:

Let’s switch to lower time-frame to see more

My Flu Analysis has eyes on 1934… with 1903 supported of course…

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lol, master gold digger!