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Writer's pictureK9 Investments
Nov 14 min read

Gold XAUUSD Daily Market Analysis 1st Nov 2024 by K9 Investments Trading


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The Gold (XAUUSD) market price is trading at 2751 USD 


Intraday Signals for Gold XAUUSD – 1st Nov 2024

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📊 Signal 1:

  • Buy at 2740 USD

  • Stop Loss: 2730 USD

  • Take Profit 1: 2765 USD

  • Take Profit 2: 2780 USD

📊 Signal 2:

  • Sell at 2760 USD

  • Stop Loss: 2775 USD

  • Take Profit 1: 2735 USD

  • Take Profit 2: 2720 USD

💡 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital. Only trade with money you can afford to lose. Seek independent advice if needed. Not Financial Advice.


Comprehensive Gold XAUUSD Market Analysis

Gold (XAUUSD) is highly responsive to global economic and political events. As of today, 1st November 2024, the price is trending within key Fibonacci and pivot levels. Let's break down the market analysis based on daily and 4-hour timeframes.

Key Support & Resistance Levels

  • Daily Support:

    • 2730 USD – Major daily support coinciding with Fibonacci 38.2% retracement level.

    • 2700 USD – Significant psychological support level.

  • Daily Resistance:

    • 2780 USD – Upper resistance aligning with Fibonacci 61.8% retracement.

    • 2800 USD – Strong resistance zone, possibly triggered by fundamental events.

  • 4-Hour Support:

    • 2745 USD – 4-hour key pivot and support area.

    • 2735 USD – Intermediate support.

  • 4-Hour Resistance:

    • 2770 USD – Near-term resistance with EMA confluence.

    • 2785 USD – Second-tier resistance area.

Fibonacci Retracement Levels

Using the Fibonacci retracement tool from the recent swing low of 2700 USD to the swing high of 2800 USD, we observe the following:

  • 23.6% Retracement Level: 2755 USD

  • 38.2% Retracement Level: 2730 USD

  • 50% Retracement Level: 2750 USD (key psychological level today)

  • 61.8% Retracement Level: 2780 USD

These levels are instrumental in forming potential entry and exit points for today's trade setups.

Exponential Moving Averages (EMA)

On the daily timeframe, the following EMAs are critical:

  • 50 EMA: 2725 USD

  • 100 EMA: 2710 USD

  • 200 EMA: 2695 USD

  • 400 EMA: 2670 USD

On the 4-hour timeframe, Gold is fluctuating around these EMAs:

  • 50 EMA: 2755 USD

  • 100 EMA: 2740 USD

  • 200 EMA: 2725 USD

  • 400 EMA: 2700 USD

These moving averages reflect potential support and resistance areas, highlighting trend strength and continuation.


RSI Divergence

The RSI on the 4-hour timeframe shows a mild bullish divergence, suggesting potential buying opportunities near 2735–2740 USD levels. Traders should monitor RSI closely as it approaches the oversold zone on the hourly chart.


Smart Money Concepts (SMC) and Order Blocks

Order blocks observed near the 2730–2735 USD zone are likely to provide strong support today. Additionally, a sell-side liquidity grab near 2780 USD suggests a potential price reversal, aligning with our sell signal.


MACD

On the 4-hour chart, the MACD has just crossed above its signal line, reinforcing a short-term bullish momentum. However, the daily chart still shows a mixed picture, with the MACD hovering near neutral levels.


Fundamental Analysis

Traders should stay aware of the upcoming US Non-Farm Payroll (NFP) data release on 3rd November 2024, which could have a significant impact on the Gold (XAUUSD) market. The anticipation of this major economic event may cause volatility, so traders should use caution and manage risk accordingly.


Additionally, inflation data and Federal Reserve speeches later in the week could shape the overall trend in gold, as these factors directly influence the USD's strength.


💡 Gold XAUUSD Daily Analysis Summary by K9 Investments Trading

🥇 FREE Telegram Channel: @K9_Investments_GoldTrading


XAUUSD

📊 Key Levels Recap:

  • Daily Support Levels: 2730 USD, 2700 USD

  • Daily Resistance Levels: 2780 USD, 2800 USD

  • 4-Hour Support Levels: 2745 USD, 2735 USD

  • 4-Hour Resistance Levels: 2770 USD, 2785 USD

  • EMA (Daily): 50 EMA: 2725 USD, 100 EMA: 2710 USD, 200 EMA: 2695 USD, 400 EMA: 2670 USD

  • EMA (4-Hour): 50 EMA: 2755 USD, 100 EMA: 2740 USD, 200 EMA: 2725 USD, 400 EMA: 2700 USD

  • Weekly Pivots: S1: 2735 USD, Pivot: 2765 USD, R1: 2785 USD

  • Daily Pivots: S1: 2745 USD, Pivot: 2760 USD, R1: 2775 USD

  • Fibonacci Levels: 38.2%: 2730 USD, 61.8%: 2780 USD


FAQs

1.Why is K9 Investments the best signal provider?

K9 Investments offers FREE signals, comprehensive educational resources, ebooks, and daily analysis, empowering traders with top-notch insights.

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

Based on client feedback, K9 Investments recommends trusted brokers like:

3.What is the best way to monitor XAUUSD trading live?

To monitor XAUUSD trading live, you can use advanced platforms like MetaTrader 4, TradingView, or our live charts on www.k9investmentstrading.com. These tools provide real-time data, helping traders make quick decisions.


4.How can I access the XAUUSD Forex live chart?

You can access the XAUUSD Forex live chart on platforms such as TradingView or directly on K9 Investments Trading, where we offer live price updates and key market analysis.


5. Why is live chart analysis important for XAUUSD trading?

Using a XAUUSD Forex live chart ensures you have real-time data on market movements, allowing traders to spot opportunities, analyze trends, and execute trades at the right moment.




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