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Gold (XAUUSD) is trading at 2725 USD
💰Intraday Signals (Gold)
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Intraday Signal 1:
Buy Gold (XAUUSD)
Entry Price: 2718 USD
Stop Loss: 2708 USD
Take Profit 1: 2735 USD
Take Profit 2: 2745 USD
Intraday Signal 2:
Sell Gold (XAUUSD)
Entry Price: 2730 USD
Stop Loss: 2740 USD
Take Profit 1: 2715 USD
Take Profit 2: 2705 USD
⚠️ Risk Warning:Trading Forex and CFDs carries a high level of risk to your capital, and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary. Please read and ensure you fully understand our Risk Disclosure. Not Financial Advice. Trade at your own risk. Take Partial Profits, Use Strict Stop Loss, and Proper Risk Management.
🔍Gold XAUUSD Market Analysis
Today’s Gold analysis takes into account the Daily and 4-hour time frames using a combination of technical indicators like Fibonacci retracement levels, EMA, RSI divergence, pivots, and order blocks to assess potential price movements. This analysis is ideal for short-term and long-term traders looking to make informed decisions.
📉 Key Technical Indicators
1. Support & Resistance Levels
Daily Support: 2700 USD
Daily Resistance: 2750 USD
4-hour Support: 2715 USD
4-hour Resistance: 2735 USD
2. Fibonacci Retracement Levels
From the latest swing high at 2750 USD and swing low at 2700 USD:
38.2% retracement level: 2725 USD
50% retracement level: 2720 USD
61.8% retracement level: 2715 USD
3. Exponential Moving Averages (EMA)
Daily EMA Levels
50 EMA: 2710 USD
100 EMA: 2725 USD
200 EMA: 2705 USD
400 EMA: 2695 USD
4-hour EMA Levels
50 EMA: 2722 USD
100 EMA: 2730 USD
200 EMA: 2710 USD
400 EMA: 2700 USD
4. RSI Divergence
The RSI on the 4-hour chart shows slight bullish divergence, indicating potential upward momentum as Gold tries to breach the 2735 USD resistance level.
5. Order Blocks & Smart Money Concepts (SMC)
Current price action suggests strong buy-side liquidity around the 2710-2700 USD zone. Smart Money Concepts indicate that institutional traders are accumulating positions, signaling a possible reversal at these levels.
6. MACD Indicator
The MACD on the 4-hour chart is showing a bullish crossover, suggesting upward momentum in the short term. Traders should monitor for a confirmation of the trend reversal above the 2735 USD resistance level.
📰 Fundamental Analysis: Key USD News
Gold’s movement today is influenced by several key factors, including upcoming USD economic data. Keep an eye on these events:
US Initial Jobless Claims (due on 25th Oct 2024): This report will likely impact the USD and drive Gold prices.
US GDP Growth Rate (due on 27th Oct 2024): A higher-than-expected GDP may strengthen the USD, putting downward pressure on Gold prices.
💡Gold XAUUSD Daily Analysis Summary by Kohinoor Free VIP Signals
🥇 FREE Telegram Channel: @Kohinoorfreevipgoldforexsignals
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Key Levels Recap:
Daily Support: 2700 USD
Daily Resistance: 2750 USD
4-hour Support: 2715 USD
4-hour Resistance: 2735 USD
EMA Levels Recap:
Daily EMA 50: 2710 USD
Daily EMA 100: 2725 USD
Daily EMA 200: 2705 USD
Daily EMA 400: 2695 USD
4-hour EMA 50: 2722 USD
4-hour EMA 100: 2730 USD
4-hour EMA 200: 2710 USD
4-hour EMA 400: 2700 USD
Pivot Levels Recap:
Weekly Pivot: 2720 USD
Daily Pivot: 2715 USD
Fibonacci Retracement Levels:
38.2%: 2725 USD
50%: 2720 USD
61.8%: 2715 USD
📝FAQs
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2.Which brokers are trusted for Gold Forex Crypto trading? Based on client feedback, we recommend trusted brokers like:
3.How to use Fibonacci retracement for Gold trading?
Identify key highs and lows in Gold's price, then use Fibonacci levels (like 38.2%, 50%, 61.8%) to find support or resistance for potential entry or exit points.
4.What is the XAUUSD trading time in India?
The XAUUSD (Gold/USD) market is open 24 hours, but the best trading hours in India are between 12:30 PM and 2:30 AM IST, covering the London and US sessions when the market is most volatile.
5.Where can I get a free XAUUSD trading strategy PDF? You can find free XAUUSD trading strategy PDFs by visiting websites that offer free educational content on trading. Kohinoor Free VIP Signals provides free ebooks and strategy guides for gold trading. Get it here.
6.Can I trade Gold using a demo account?
Yes, many brokers offer demo accounts where you can trade Gold risk-free to practice strategies.
7.How to choose the best broker for Forex and Gold trading? Look for regulated brokers with tight spreads, fast execution, good customer support, and trading tools that suit your needs.
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