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💬 WhatsApp Kohinoor Free VIP Signals here for FREE Gold Forex Live Trade Setups & Market Analysis.
Market Overview
As we dive into today's analysis, the current live price of Gold (XAUUSD) stands at 2938 USD. In this analysis, we will provide two actionable intraday trading signals based on a comprehensive market evaluation using various technical indicators.
Comprehensive Market Analysis
Support & Resistance Levels
In analyzing the daily and 4-hour timeframes, we identify key support and resistance levels that are critical for making informed trading decisions.
Daily Support Levels:
Level 1: 2920 USD
Level 2: 2900 USD
Level 3: 2880 USD
Daily Resistance Levels:
Level 1: 2950 USD
Level 2: 2975 USD
Level 3: 3000 USD
Fibonacci Retracement Levels
Utilizing Fibonacci Retracement, we observe significant swing levels which are crucial for identifying potential reversal points:
Key Fibonacci Levels:
23.6%: 2945 USD
38.2%: 2925 USD
61.8%: 2905 USD
Exponential Moving Averages (EMA)
The EMAs provide insights into the prevailing trend. Here are the current EMA levels based on the live market price:
Daily Time Frame:
EMA 50: 2925 USD
EMA 100: 2910 USD
EMA 200: 2905 USD
EMA 400: 2890 USD
4-Hour Time Frame:
EMA 50: 2935 USD
EMA 100: 2920 USD
EMA 200: 2915 USD
EMA 400: 2900 USD
RSI Divergence
The Relative Strength Index (RSI) indicates whether the market is overbought or oversold. Currently, the RSI is at 65, suggesting that gold is nearing overbought territory. Traders should be cautious of potential pullbacks.
Order Blocks
Identifying order blocks helps in understanding where institutions are placing their orders. The current order block is located around 2930-2940 USD, indicating strong buying pressure.
MACD Analysis
The Moving Average Convergence Divergence (MACD) shows a bullish crossover, suggesting a potential upward movement in the near term. This aligns with our bullish signal.
Fundamental Analysis
Upcoming USD News
Monitoring upcoming economic news is essential for forex traders. Keep an eye on the following USD news that could impact the Gold market:
Federal Reserve Meeting: Expected to discuss interest rate adjustments.
Non-Farm Payrolls: Scheduled for next week, which typically affects market volatility.
💡XAUUSD Daily Analysis Summary by Kohinoor Free VIP Signals
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Key Levels Summary
Daily Support Levels: 2920, 2900, 2880 USD
Daily Resistance Levels: 2950, 2975, 3000 USD
EMA Levels (Daily): 2925, 2910, 2905, 2890 USD
EMA Levels (4-Hour): 2935, 2920, 2915, 2900 USD
Fibonacci Levels: 2945, 2925, 2905 USD
Disclaimer
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.
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Trading signals can help simplify decision-making, provide insights into market trends, and enhance trading strategies.
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Our trading signals are updated daily to reflect the latest market conditions.
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Absolutely! Trading signals are designed to assist traders of all levels, including beginners.
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Basic tools include a trading platform, a good internet connection, and access to market analysis resources.
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Explore our educational articles and ebooks here.
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Conclusion
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