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XAUUSD Daily Market Analysis—December 5, 2024 by K9 Investments Trading

Writer's picture: K9 InvestmentsK9 Investments

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Gold XAUUSD Live Market Price: 2648 USD

Two Intraday Signals


Signal 1: Buy Gold XAUUSD

  • Trade Entry: 2635.20 (Daily Fibonacci Retracement Level - 61.8%)

  • Stop Loss: 2625.10 (Below Daily Support Level)

  • Take Profit 1: 2655.50 (Daily Resistance Level)

  • Take Profit 2: 2670.00 (Weekly Pivot Level)


Signal 2: Sell Gold XAUUSD

  • Trade Entry: 2665.80 (Daily Resistance Level)

  • Stop Loss: 2675.90 (Above Daily Resistance Level)

  • Take Profit 1: 2650.20 (Daily Support Level)

  • Take Profit 2: 2630.50 (Daily Fibonacci Retracement Level - 50%)


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Not Financial Advice. Trade at your own risk. Take Partial Profits, Use Strict Stop Loss, and Proper Risk Management.

 

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Market Analysis Section

Support & Resistance Levels

Time Frame

Support Levels

Resistance Levels

Daily

2620.50, 2605.20

2665.80, 2685.50

4hr

2638.20, 2645.10

2658.50, 2662.80

Fibonacci Retracement Levels (Daily Swing Levels)

  • 23.6%: 2612.10

  • 50%: 2630.50

  • 61.8%: 2635.20


EMA (50/100/200/400) Levels

Time Frame

EMA 50

EMA 100

EMA 200

EMA 400

Daily

2625.15

2618.50

2605.80

2590.20

4hr

2642.50

2635.80

2629.10

2622.40


RSI Divergence

Observed a Bullish Divergence on the 4hr chart, indicating a potential reversal.


Order Blocks

Identified a Buy Order Block at 2632.10 on the 4hr chart.


MACD

MACD Line crossed above the Signal Line on the daily chart, indicating a Bullish Signal.



the mind map summarizing the XAUUSD 5th Dec 24, Daily Analysis

💡 Gold XAUUSD Daily Analysis Summary by K9 Investments Trading

📊 Key Levels Summary

  • Daily & 4-hour Support and Resistance: As mentioned in the Market Analysis Section

  • Daily EMA Levels:

    • EMA 50: 2625.15

    • EMA 100: 2618.50

    • EMA 200: 2605.80

    • EMA 400: 2590.20

  • 4hr EMA Levels:

    • EMA 50: 2642.50

    • EMA 100: 2635.80

    • EMA 200: 2629.10

    • EMA 400: 2622.40

  • Weekly Pivots:

    • S3: 2580.20

    • S2: 2602.50

    • S1: 2620.50

    • R1: 2665.80

    • R2: 2685.50

    • R3: 2700.20

  • Daily Pivots:

    • S3: 2612.10

    • S2: 2625.15

    • S1: 2635.20

    • R1: 2655.50

    • R2: 2665.80

    • R3: 2675.90

  • Fibonacci Retracement Levels: As mentioned in the Market Analysis Section


📈 Fundamental Analysis and USD NEWS

  • Upcoming Important USD News:

    • US Non-Farm Payrolls (NFP) - Friday, December 6, 2024 (13:30 GMT)

    • US Unemployment Rate - Friday, December 6, 2024 (13:30 GMT)

  • Impact on Gold (XAUUSD) Market:

    • A stronger-than-expected NFP and lower Unemployment Rate may lead to a stronger USD, potentially weakening Gold prices.

    • Conversely, a weaker-than-expected NFP and higher Unemployment Rate may lead to a weaker USD, potentially strengthening Gold prices.

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The optimal time frame for trading Gold (XAUUSD) varies by strategy. Many traders find success using both daily and 4hr timeframes for effective analysis and signal generation.


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