top of page

🟡 Gold XAUUSD Daily Market Analysis 7th Oct 2024 by Kohinoor Free VIP Signals

Kohinoor Free VIP Trading Signals
Oct 7, 20243 min read

💬 WhatsApp Kohinoor Free VIP Signals https://www.freevipforexgoldsignals.com for FREE Gold Forex Live Trade Setups & Market Analysis. 

📉Gold XAUUSD Intraday Signals

Signal 1: Buy Gold XAUUSD

  • Entry Price: 2640 USD

  • Stop Loss: 2628 USD

  • Take Profit 1: 2654 USD

  • Take Profit 2: 2668 USD


Signal 2: Sell Gold XAUUSD

  • Entry Price: 2655 USD

  • Stop Loss: 2668 USD

  • Take Profit 1: 2643 USD

  • Take Profit 2: 2630 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 – Daily and 4-Hour Timeframes

1. Support and Resistance Levels

  • Daily Support Levels:

    • S1: 2630 USD

    • S2: 2620 USD

    • S3: 2605 USD

  • Daily Resistance Levels:

    • R1: 2658 USD

    • R2: 2670 USD

    • R3: 2685 USD

  • 4-Hour Support Levels:

    • S1: 2638 USD

    • S2: 2625 USD

    • S3: 2610 USD

  • 4-Hour Resistance Levels:

    • R1: 2655 USD

    • R2: 2665 USD

    • R3: 2680 USD

2. Fibonacci Retracement Levels

Based on the daily swing low at 2600 USD and swing high at 2700 USD, key Fibonacci retracement levels are:

  • 23.6%: 2647 USD

  • 38.2%: 2635 USD

  • 50%: 2625 USD

  • 61.8%: 2612 USD

These levels show potential price reactions, with strong support around 2625 USD.

3. EMA Analysis (50/100/200/400)

Daily Time Frame

  • 50 EMA: 2640 USD

  • 100 EMA: 2625 USD

  • 200 EMA: 2605 USD

  • 400 EMA: 2580 USD

4-Hour Time Frame

  • 50 EMA: 2645 USD

  • 100 EMA: 2630 USD

  • 200 EMA: 2610 USD

  • 400 EMA: 2595 USD

The market is currently trading above the 50 and 100 EMAs on both timeframes, indicating a bullish trend, though a break below these levels could trigger a pullback.

4. RSI Divergence

  • Daily RSI (14): 64 – showing potential bearish divergence as price approaches resistance.

  • 4-Hour RSI (14): 55 – suggesting consolidation, but a move below 50 could indicate weakness.

5. Order Blocks

  • Daily Bullish Order Block: Between 2620 USD – 2630 USD

  • Daily Bearish Order Block: Between 2658 USD – 2668 USD

Look for price reactions in these zones for high-probability trades.

6. MACD

  • Daily MACD: Bullish crossover, indicating continued upward momentum.

  • 4-Hour MACD: Neutral, with slight consolidation expected before any breakout.

    Gold Daily Summary by Kohinoor Free VIP Signals

Key Levels:

  • Support (Daily): 2630 USD, 2620 USD, 2605 USD

  • Resistance (Daily): 2658 USD, 2670 USD, 2685 USD

  • EMA (Daily): 50 EMA – 2640 USD, 100 EMA – 2625 USD, 200 EMA – 2605 USD, 400 EMA – 2580 USD

  • EMA (4-Hour): 50 EMA – 2645 USD, 100 EMA – 2630 USD, 200 EMA – 2610 USD, 400 EMA – 2595 USD

  • Fibonacci Levels: 23.6% – 2647 USD, 38.2% – 2635 USD, 50% – 2625 USD, 61.8% – 2612 USD

📈 Fundamental Analysis:

Upcoming USD-related news events may drive volatility in the Gold market:

  • US Non-Farm Payrolls (Friday, Oct 8, 2024)

  • FOMC Meeting Minutes (Wednesday, Oct 10, 2024)

These events could significantly impact Gold (XAUUSD) price due to the correlation between USD strength and Gold movements. Keep an eye on key data releases for intraday volatility.

📑 FAQs

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

Kohinoor Free VIP Signals offers not only FREE signals but also educational resources, daily market analysis, and ebooks to help you trade smarter. 💡 Learn more here: https://www.freevipforexgoldsignals.com/about-kohinoor-vip-signals

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

Based on client feedback, we recommend the following brokers:

3. How do I get free Gold Forex signals?

You can get free signals by visiting our website: https://www.freevipforexgoldsignals.com/all-brokers-info-summary.

4. What trading platforms are compatible with your signals?

Our signals are compatible with MT4, MT5, and cTrader platforms.

71 views0 comments

Comments

bottom of page