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Market Overview
As of today, the live price of Gold (XAUUSD) stands at $2944. This analysis provides a comprehensive look at both daily and 4-hour time frames using various indicators to guide your trading decisions.
Technical Analysis
Support & Resistance Levels
Analyzing the daily and 4-hour time frames reveals critical support and resistance levels.
Daily Support Levels:
S1: $2900
S2: $2880
S3: $2850
Daily Resistance Levels:
R1: $2960
R2: $2980
R3: $3000
4-Hour Support Levels:
S1: $2930
S2: $2920
S3: $2910
4-Hour Resistance Levels:
R1: $2950
R2: $2965
R3: $2985
Fibonacci Retracement Levels
Using Fibonacci retracement levels, we identify the daily swing levels:
Key Levels:
23.6%: $2915
38.2%: $2925
61.8%: $2940
Exponential Moving Averages (EMA)
Daily Time Frame EMAs:
EMA 50: $2935
EMA 100: $2920
EMA 200: $2905
EMA 400: $2890
4-Hour Time Frame EMAs:
EMA 50: $2940
EMA 100: $2925
EMA 200: $2910
EMA 400: $2895
RSI Divergence
The Relative Strength Index (RSI) indicates potential reversal points. Currently, the RSI is at 65, suggesting that gold may be overbought. Watch for divergence signals to confirm potential price reversals.
Order Blocks
Identifying order blocks on the daily chart shows significant buying interest around $2900 and selling interest near $2960. These levels are crucial for potential entry and exit points.
MACD Analysis
The Moving Average Convergence Divergence (MACD) shows bullish momentum but is nearing overbought territory. A crossover below the signal line may indicate a potential sell signal.
Fundamental Analysis
Upcoming USD News
This week, keep an eye on important USD news that could impact gold prices:
CPI Report: Expected to show inflation trends.
Federal Reserve Meeting: Potential interest rate changes.
Employment Data: Insights into economic health.
These factors can influence gold prices significantly, making it essential to stay updated.
💡 Gold XAUUSD Daily Analysis Summary by Kohinoor Free VIP Signals
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Key Levels Summary
Daily Support & Resistance:
Support: $2900, $2880, $2850
Resistance: $2960, $2980, $3000
EMA Levels (Daily):
50: $2935
100: $2920
200: $2905
400: $2890
EMA Levels (4-Hour):
50: $2940
100: $2925
200: $2910
400: $2895
Weekly Pivots:
Pivot Point: $2940
Support: $2920
Resistance: $2960
Daily Pivots:
Pivot Point: $2945
Support: $2930
Resistance: $2950
Fibonacci Levels:
23.6%: $2915
38.2%: $2925
61.8%: $2940
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.
FAQs
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What is the best time frame for trading gold? Many traders prefer the daily and 4-hour time frames for their balance of detail and overview.
How does economic news affect gold prices? Economic indicators, especially related to inflation and employment, can greatly influence gold prices.
What strategies work best for gold trading? Strategies using technical analysis, such as Fibonacci and EMA, are popular among traders.
How can I learn more about Forex trading? Explore our Level 1 Forex Trading Educational Videos.
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