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📊 Gold XAUUSD Intraday Signals by K9 Investments Trading
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Intraday Signal 1:
Buy Signal: 2648 USD
Stop Loss: 2630 USD
Take Profit 1: 2665 USD
Take Profit 2: 2680 USD
Intraday Signal 2:
Sell Signal: 2662 USD
Stop Loss: 2675 USD
Take Profit 1: 2648 USD
Take Profit 2: 2630 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. Not Financial Advice. Trade at your own risk. Take Partial Profits, Use Strict Stop Loss, and Proper Risk Management.
🔍 Market Analysis for Gold XAUUSD – 5th October 2024
Overview of the Weekly & 4-Hour Chart
Gold (XAUUSD) continues its upward journey amid geopolitical tensions and US dollar fluctuations, trading at 2653 USD as of today. The price is currently testing significant technical levels, which provides great opportunities for intraday traders.
Support & Resistance Levels
Weekly Support Levels:
First Support: 2640 USD
Second Support: 2620 USD
Major Support: 2600 USD
Weekly Resistance Levels:
First Resistance: 2665 USD
Second Resistance: 2680 USD
Major Resistance: 2700 USD
4-Hour Support & Resistance:On the 4-hour chart, the price is fluctuating near the support zone of 2635 USD, while strong resistance exists at 2670 USD. These levels may create volatility during market hours, providing a clear range for trading signals.
Fibonacci Retracement Levels
On the Weekly timeframe, the Fibonacci retracement from the recent swing high of 2700 USD to the swing low of 2600 USD highlights key levels:
23.6% Retracement: 2638 USD
38.2% Retracement: 2650 USD
61.8% Retracement: 2670 USD
These Fibonacci levels align with major support and resistance levels, offering great zones for potential trade entries and exits.
Exponential Moving Averages (EMA)
Weekly EMA Levels:
EMA 50: 2610 USD
EMA 100: 2580 USD
EMA 200: 2530 USD
EMA 400: 2460 USD
4-Hour EMA Levels:
EMA 50: 2640 USD
EMA 100: 2630 USD
EMA 200: 2600 USD
EMA 400: 2550 USD
The price is currently moving above the EMA 50 on both timeframes, signaling a potential bullish bias for intraday trades.
RSI Divergence
The Relative Strength Index (RSI) on the 4-hour chart shows a slight bullish divergence. While the price made a lower low, RSI has been inching higher, indicating that the downtrend might be losing momentum. This strengthens the case for a potential upside.
Order Blocks & Smart Money Concepts (SMC)
Institutional order blocks around the 2620-2640 USD range indicate a zone of interest for buyers. The SMC perspective aligns with a possible bullish continuation if the price respects this block and bounces off strong support levels.
MACD
The MACD on the 4-hour chart is crossing over bullish, further confirming the potential upward momentum, particularly if Gold manages to break through the 2665 USD resistance level.
💡Gold XAUUSD Weekly Analysis Summary
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Key Levels to Watch
Weekly Support: 2640 USD, 2620 USD, 2600 USD
Weekly Resistance: 2665 USD, 2680 USD, 2700 USD
EMA 50 (Weekly): 2610 USD
EMA 50 (4H): 2640 USD
Fibonacci Levels: 2650 USD, 2670 USD
📈 Fundamental Analysis & USD News
Gold remains highly sensitive to USD-related news. In the coming week, the market is focusing on the U.S. Non-Farm Payroll report. A stronger-than-expected report may put pressure on Gold, as a stronger USD could push XAUUSD lower. Traders should keep an eye on any speeches from Federal Reserve officials that might impact Gold’s price action.
📑 Frequently Asked Questions (FAQs)
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