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🟡 Gold XAUUSD Daily Market Analysis 4th Oct 2024 by Kohinoor Free VIP Gold Forex and Crypto Trading

Kohinoor Free VIP Trading Signals

Updated: Oct 7, 2024

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✳️ Intraday Signals (XAUUSD)

1️⃣ Buy Signal

  • Entry: 2660 USD

  • Stop Loss: 2648 USD

  • Take Profit 1: 2675 USD

  • Take Profit 2: 2690 USD

2️⃣ Sell Signal

  • Entry: 2665 USD

  • Stop Loss: 2678 USD

  • Take Profit 1: 2650 USD

  • Take Profit 2: 2635 USD

Disclaimer: Not Financial Advice. Trade at your own risk. Use proper risk management, always apply stop loss, and consider partial profits.


🔍 Market Analysis

Gold (XAUUSD) is currently trading around 2662 USD, presenting opportunities for both bullish and bearish traders. Here, we analyze the market using key indicators across Daily and 4-hour timeframes to provide a comprehensive outlook.

Daily Timeframe Analysis

  1. Support & Resistance Levels

    • Support Levels:

      • 2650 USD (Key Psychological Level)

      • 2620 USD (Major Support)


    • Resistance Levels:

      • 2675 USD (Initial Resistance)

      • 2700 USD (Strong Resistance)

  2. Fibonacci Retracement Levels

    • Swing High: 2710 USD

    • Swing Low: 2620 USD

    • Key Levels:

      • 23.6% Retracement: 2658 USD

      • 38.2% Retracement: 2669 USD

      • 50% Retracement: 2675 USD

  3. Exponential Moving Averages (EMA)

    • 50 EMA: 2668 USD

    • 100 EMA: 2672 USD

    • 200 EMA: 2680 USD

    • 400 EMA: 2700 USD

  4. RSI DivergenceThe RSI on the daily chart shows bullish divergence, indicating potential upward movement if the price holds above 2650 USD.

  5. Order Blocks & Smart Money Concepts (SMC)A bullish order block is observed around 2635-2640 USD, hinting at accumulation before an upward move.

  6. MACDMACD is in a positive territory but shows signs of consolidation, suggesting limited momentum. A breakout above 2675 USD could fuel further bullish sentiment.


4-Hour Timeframe Analysis

  1. Support & Resistance Levels

    • Support Levels:

      • 2655 USD (Immediate Support)

      • 2640 USD (Secondary Support)

    • Resistance Levels:

      • 2670 USD (Immediate Resistance)

      • 2690 USD (Next Resistance)

  2. Exponential Moving Averages (EMA)

    • 50 EMA: 2663 USD

    • 100 EMA: 2667 USD

    • 200 EMA: 2682 USD

    • 400 EMA: 2705 USD

  3. Fibonacci Retracement Levels

    • Swing High: 2700 USD

    • Swing Low: 2630 USD

    • Key Levels:

      • 38.2% Retracement: 2660 USD

      • 50% Retracement: 2670 USD

      • 61.8% Retracement: 2678 USD

  4. RSI & MACDOn the 4-hour chart, RSI shows a bearish divergence near 2675 USD, while MACD indicates indecision. A break above 2675 USD could validate the bullish continuation.

  5. Order Blocks & SMC ConceptsA demand zone between 2640-2650 USD highlights strong buying pressure, with potential for upside if price bounces from this zone.

Key Levels to Watch

  • Daily Support: 2650 USD, 2620 USD

  • Daily Resistance: 2675 USD, 2700 USD

  • 4-Hour Support: 2655 USD, 2640 USD

  • 4-Hour Resistance: 2670 USD, 2690 USD

  • EMA Levels (Daily): 50 EMA: 2668 USD, 100 EMA: 2672 USD, 200 EMA: 2680 USD, 400 EMA: 2700 USD

  • EMA Levels (4-Hour): 50 EMA: 2663 USD, 100 EMA: 2667 USD, 200 EMA: 2682 USD, 400 EMA: 2705 USD

Weekly Pivot Levels:

  • Pivot Point: 2655 USD

  • Resistance 1: 2680 USD

  • Support 1: 2630 USD

Daily Pivot Levels:

  • Pivot Point: 2660 USD

  • Resistance 1: 2675 USD

  • Support 1: 2645 USD


Gold XAUUSD Daily Analysis Summary by Kohinoor Free VIP Signals

FREE Telegram Channel: @Kohinoor_Free_VIP_Gold_Forex_Signals


The Gold market remains volatile as price hovers around 2662 USD. Key levels suggest a potential upward move if price holds above 2655 USD. Traders should watch 2675 USD for resistance and 2650 USD as a critical support. The RSI divergence indicates possible bullish movement, but traders should remain cautious of reversals.


📈 Fundamental Analysis and USD News

Today's focus is on USD economic data, including the Non-Farm Payroll (NFP) report and Federal Reserve Chairman Speech. With expected volatility in the USD, Gold (XAUUSD) may experience sharp price swings. A weaker NFP could drive Gold prices higher, while strong data could cause bearish pressure.


📑 Frequently Asked Questions

1.Why is Kohinoor Free VIP Signals the best signal provider?

Kohinoor Free VIP Signals offers FREE signals, daily market analysis, and valuable educational resources. Get access to Free Gold Forex Trading Ebooks and explore educational content on our Kohinoor VIP Blog.


2.Which brokers are trusted for Gold, Forex, and Crypto trading?

Based on client feedback, trusted brokers include:


3.How does USD impact Gold trading?

USD has a significant impact on Gold prices. When the USD strengthens, Gold usually falls, and vice versa. This inverse correlation makes it essential to track USD-related news when trading Gold.


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