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Gold XAUUSD Daily Market Analysis 8th Oct 2024 by K9 Investments Trading

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Gold (XAUUSD) is currently trading at $2,642 

📊 Intraday Trading Signals for XAUUSD

🌐 Visit www.k9investmentstrading.com for more updates and free signals. 🥇 FREE Telegram Channel: @K9_Investments_GoldTrading

1️⃣ Buy Signal

  • Market Price: $2,642

  • Entry: Buy at $2,640

  • Stop Loss: $2,628

  • Take Profit 1: $2,655

  • Take Profit 2: $2,670

2️⃣ Sell Signal

  • Market Price: $2,642

  • Entry: Sell at $2,660

  • Stop Loss: $2,673

  • Take Profit 1: $2,645

  • Take Profit 2: $2,630

🔹 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. Please ensure that you fully understand our Risk Disclosure. Not Financial Advice. Trade at your own risk. Use strict stop loss and proper risk management.


🔍 Gold XAUUSD Market Analysis: Daily and 4-Hour Time Frames

Gold (XAUUSD) has remained in a volatile range, with $2,642 as the current market price. Let's explore the market conditions using technical indicators like Fibonacci Retracement Levels, EMAs, RSI divergence, and more on the daily and 4-hour charts.

🔸 Key Support & Resistance Levels

  • Daily Resistance: $2,660

  • Daily Support: $2,628

  • 4-Hour Resistance: $2,650

  • 4-Hour Support: $2,630

🔹 Fibonacci Retracement Levels

  • Key Swing Low: $2,570

  • Key Swing High: $2,690

  • 50% Retracement Level: $2,630

  • 61.8% Retracement Level: $2,615

These levels provide important zones to watch for potential reversals and breakout points on both daily and intraday trades.

🔸 EMA Analysis

  • Daily EMAs:

    • 50 EMA: $2,632

    • 100 EMA: $2,610

    • 200 EMA: $2,580

    • 400 EMA: $2,550

  • 4-Hour EMAs:

    • 50 EMA: $2,640

    • 100 EMA: $2,625

    • 200 EMA: $2,590

    • 400 EMA: $2,560

The current EMA levels indicate a possible pullback near the 50 EMA at $2,632 on the daily time frame, signaling a bullish outlook if the price holds above this level.

🔹 RSI Divergence & MACD

  • RSI (Daily): Currently at 55, showing mild bullish divergence.

  • MACD: The MACD line has crossed above the signal line on the 4-hour chart, supporting a potential upward move.

🔸 Order Blocks & Smart Money Concepts (SMC)

  • Order Block (Daily): A significant buy order block is observed at $2,620, suggesting institutional interest around this level.

  • Smart Money Concepts (SMC): The price is showing signs of accumulation around $2,630, hinting at a potential bullish breakout in the coming sessions.

📆 Pivot Points for Gold XAUUSD

  • Weekly Pivots:

    • Pivot Level: $2,645

    • Resistance 1: $2,662

    • Support 1: $2,620

  • Daily Pivots:

    • Pivot Level: $2,640

    • Resistance 1: $2,650

    • Support 1: $2,625

🌐 Fundamental Analysis and USD News Impact on Gold

This week, we are keeping a close eye on the US PPI (Producer Price Index) data release on 10th October 2024, which could lead to increased volatility in the Gold market. A stronger-than-expected PPI report would support the USD, potentially exerting downward pressure on XAUUSD prices. Traders should also watch for upcoming Fed statements on inflation.

Gold XAUUSD Daily Analysis Summary


Gold Daily Analysis

For more detailed analysis and updates, visit www.k9investmentstrading.com.

🥇 FREE Telegram Channel: @K9_Investments_GoldTrading

Key Levels

  • Daily Support: $2,628

  • Daily Resistance: $2,660

  • 4-Hour Support: $2,630

  • 4-Hour Resistance: $2,650

  • 50 EMA (Daily): $2,632

  • Fibonacci Levels: $2,630 (50%), $2,615 (61.8%)

  • Pivot Points: $2,640 (Daily Pivot), $2,645 (Weekly Pivot)


FAQs

1. Why is K9 Investments the best signal provider?

K9 Investments offers free daily signals, educational resources, and ebooks, making it the go-to platform for Gold, Forex, and Crypto trading.💎 Access free trading resources at K9 Investments Trading.

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3. How can I join the K9 Investments Telegram Channel?

Join our FREE Telegram Channel: @K9_Investments_GoldTrading.

4. What are the best strategies for intraday Gold trading?

Utilize a combination of Fibonacci retracement, EMA, and RSI divergence for high-accuracy intraday setups.

5. How does Gold price correlate with USD news?

Gold is inversely correlated with the USD; when USD strengthens, Gold tends to fall and vice versa.

6. Where can I learn more about Forex trading?

Visit K9 Trading Education for free courses and articles.

7. What are K9’s premium signal offerings?

K9 Investments offers VIP premium signals for advanced traders.

8. How does Fibonacci retracement work in Gold trading?

Fibonacci levels help identify key support and resistance zones in Gold price action. Hashtags:



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