Gold XAUUSD Daily Market Analysis - Sep 24, 2024 | K9 Investments Trading

Updated: 4 days ago

WhatsApp K9 Investments Trading Market Analysts and get Free Gold Forex live trade setups and analysis.

Gold XAUUSD Intraday Signals

Live Price: 2632 USD

Intraday Buy Signal:

Entry: 2625 USD
Target 1: 2645 USD
Target 2: 2655 USD
Stop Loss: 2610 USD

Intraday Sell Signal:

Entry: 2640 USD
Target 1: 2620 USD
Target 2: 2610 USD
Stop Loss: 2655 USD

Present Market Analysis Using Fibonacci, EMA, RSI Divergence, and SMC Concepts

The gold market, currently priced at 2632 USD, is demonstrating signs of consolidation. However, based on key technical indicators such as Fibonacci retracement levels, EMA crossovers, RSI divergence, weekly pivots, and smart money concepts (SMC), traders can anticipate potential moves. Let’s dive deeper into the analysis:

Fibonacci Retracement and Key Levels

Applying the Fibonacci retracement from the recent low of 2560 USD to the high of 2640 USD, the 23.6% level rests at 2618 USD, acting as immediate support. A break below this level could lead to a retest of the 38.2% retracement at 2600 USD, a strong support level where institutional buyers may re-enter.

EMA (Exponential Moving Average) Analysis

The price is currently holding above the 100 EMA (2620 USD), which is crucial for short-term traders. The 200 EMA lies at 2590 USD, providing a significant buffer for longer-term trend followers. Meanwhile, the 400 EMA, positioned at 2555 USD, marks a critical support area and would signal a deeper correction if breached.

RSI Divergence

The RSI (Relative Strength Index) on the 4-hour chart shows a bearish divergence, signaling a potential pullback in the short term. While gold remains overbought on the daily timeframe, traders should watch for a correction toward the 2620-2615 USD zone before resuming an upward trend.

Weekly Pivots

The weekly pivot point sits at 2628 USD, aligning closely with the current price, reinforcing this level as a strong support zone. A break above the R1 level at 2645 USD could open doors for further upside movement towards 2660 USD. On the downside, S1 at 2610 USD is a critical zone for buyers to defend.

Support and Resistance Analysis

Gold’s key resistance lies at 2645 USD, with stronger resistance at 2655 USD. On the support side, 2620 USD is an immediate cushion, while the next significant support is at 2600 USD. Breaching these support levels could see prices heading toward the 2580-2560 USD zone.

Smart Money Concepts (SMC)

Gold’s recent price action indicates an accumulation phase around the 2630-2620 USD range. Institutional traders are likely waiting for liquidity grabs near these zones before a potential breakout above the 2645 USD resistance. A failure to break higher could see gold revisiting the 2600 USD mark, where buyers might find value.

Key Levels Summary

Daily and 4-Hour Timeframes:

Support Levels:
- 2620 USD
- 2600 USD
- 2580 USD
Resistance Levels:
- 2645 USD
- 2655 USD
- 2665 USD
Fibonacci Levels:
- 23.6%: 2618 USD
- 38.2%: 2600 USD
Pivot Points:
- Weekly Pivot: 2628 USD
- R1: 2645 USD
- S1: 2610 USD
EMA Levels:
- 100 EMA: 2620 USD
- 200 EMA: 2590 USD
- 400 EMA: 2555 USD

Frequently Asked Questions (FAQs) on Forex Trading Signals

What are the benefits of using trading signals in Dubai? Trading signals provide real-time analysis, helping traders in Dubai make quick decisions based on market data.
How can I access the best Forex signals in Singapore? You can subscribe to K9 Investments Trading to get accurate Forex signals tailored for Singapore markets.
Are trading signals beneficial for beginners in India? Yes, trading signals help beginners by offering expert insights and reducing the learning curve in Forex trading.
How do I use gold trading signals for long-term strategies in Dubai? Gold signals, combined with support and resistance levels, help long-term traders manage risks and maximize profits.
Where can I find free gold Forex signals in Singapore and India? K9 Investments Trading offers free gold Forex live trade setups and analysis for traders in both regions.