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🟡 Gold XAUUSD Daily Market Analysis 8th NOV 2024 by Kohinoor Free VIP Signals

Kohinoor Free VIP Trading Signals
Nov 8, 20243 min read

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Gold XAUUSD Intraday Signals by Kohinoor Free VIP Signals

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Signal 1:

  • Trade Entry: Buy XAUUSD at 2692

  • Stop Loss: 2682

  • Take Profit 1: 2704

  • Take Profit 2: 2712

Signal 2:

  • Trade Entry: Sell XAUUSD at 2705

  • Stop Loss: 2715

  • Take Profit 1: 2696

  • Take Profit 2: 2688

Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and should only be undertaken with money you can afford to lose. Seek independent advice if necessary.


🔍 Gold XAUUSD Market Analysis for 8th November 2024

Daily Time Frame Overview

Today's Gold (XAUUSD) price shows key movement around 2694 USD, with potential for volatility influenced by USD news events this week. Below is a breakdown of critical technical levels and indicators guiding the market outlook.


Key Levels and Indicators:

  • Support Levels: 2680, 2665, 2648

  • Resistance Levels: 2705, 2720, 2735

Exponential Moving Averages (EMAs)

  • Daily EMA (50): 2689

  • Daily EMA (100): 2700

  • Daily EMA (200): 2728

  • Daily EMA (400): 2742

Fibonacci Retracement Levels

Current retracement levels based on the daily swing:

  • 23.6% - 2690

  • 38.2% - 2680

  • 61.8% - 2660

  • 78.6% - 2652

These Fibonacci levels mark potential reversals or continuation points, ideal for entries or exits based on intraday strategies.

RSI Divergence

The RSI is showing bullish divergence on the daily, indicating potential buying interest as the price nears support zones.

4-Hour Time Frame Analysis

  • 4-hour EMA (50): 2695

  • 4-hour EMA (100): 2708

  • 4-hour EMA (200): 2712

  • 4-hour EMA (400): 2730

Order Blocks

Significant demand zones around 2685 and 2660 could provide strong buying momentum. On the upside, supply zones near 2715 may create resistance.

Weekly and Daily Pivot Points

  • Weekly Pivots: R1 - 2702, R2 - 2718, S1 - 2680

  • Daily Pivots: R1 - 2700, R2 - 2708, S1 - 2682

MACD

The MACD histogram on the 4-hour chart is trending towards a bullish crossover, signaling a potential rise if volume confirms.

📈 Fundamental Analysis & USD News Impact

This week's economic calendar shows critical events likely to affect Gold (XAUUSD), especially U.S. inflation data. Expect higher volatility if inflation deviates from forecasted values, which could pressure Gold prices downward or upward based on the USD response.



💡Gold XAUUSD Daily Analysis Summary by Kohinoor Free VIP Signals

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XAUUSD

  • Daily Support: 2680, 2665

  • Daily Resistance: 2705, 2720

  • EMA (Daily): 50 EMA - 2689, 100 EMA - 2700, 200 EMA - 2728, 400 EMA - 2742

  • Weekly Pivots: R1 - 2702, R2 - 2718, S1 - 2680

  • Fibonacci Retracement Levels: 23.6% - 2690, 38.2% - 2680



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