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💬 WhatsApp K9 Investments Trading here for FREE Gold Forex Live Trade Setups & Market Analysis.
Current Market Overview
As of today, the live market price of Gold (XAUUSD) stands at 2929 USD. Traders should be vigilant as we explore actionable intraday trading setups based on comprehensive market analysis.
Market Analysis
Support & Resistance Levels
In the daily timeframe, the support level is identified at 2900 USD, while resistance is currently observed at 2950 USD. The 4-hour chart corroborates these levels, providing a solid framework for traders.
Fibonacci Retracement Levels
Utilizing Fibonacci Retracement, we observe critical levels:
23.6% at 2915 USD
38.2% at 2905 USD
61.8% at 2880 USD
These levels are instrumental in predicting potential reversals and extensions in price movement.
Exponential Moving Averages (EMA)
On the daily timeframe, the EMA levels are:
50 EMA: 2905 USD
100 EMA: 2880 USD
200 EMA: 2850 USD
400 EMA: 2820 USD
For the 4-hour timeframe, the EMA levels are:
50 EMA: 2920 USD
100 EMA: 2910 USD
200 EMA: 2895 USD
400 EMA: 2885 USD
These EMAs act as dynamic support and resistance levels, guiding traders in their decision-making.
RSI Divergence
The Relative Strength Index (RSI) indicates divergence at current levels, suggesting potential reversal points. A reading above 70 may indicate overbought conditions, while below 30 signals oversold conditions.
Order Blocks
Identifying order blocks on the 4-hour chart reveals key areas where institutional buying and selling have occurred. These blocks can provide insights into potential price reversals.
MACD Analysis
The MACD is currently showing bullish momentum, indicating that buyers are gaining control. Traders should monitor for crossovers that may signal entry or exit points.
Fundamental Analysis and Upcoming USD News
Monitoring economic indicators is crucial for understanding price movements in the Gold market. Key upcoming USD news includes:
Federal Reserve Interest Rate Decision
Non-Farm Payrolls
Consumer Price Index (CPI) Reports
These events can significantly impact Gold prices, making it essential for traders to stay informed.
XAUUSD Daily Analysis Summary by K9 Investments Trading
📊 Summarize below Key Levels:
Daily Support and Resistance: 2900 USD / 2950 USD
4-hour Support and Resistance: 2915 USD / 2940 USD
Exponential Moving Averages (Daily): 50 EMA: 2905 USD, 100 EMA: 2880 USD, 200 EMA: 2850 USD, 400 EMA: 2820 USD
Exponential Moving Averages (4-hour): 50 EMA: 2920 USD, 100 EMA: 2910 USD, 200 EMA: 2895 USD, 400 EMA: 2885 USD
Weekly Pivots: 2905 USD, 2920 USD, 2935 USD
Daily Pivots: 2915 USD, 2925 USD, 2935 USD
Fibonacci Levels: 2915 USD, 2905 USD, 2880 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. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary. Please read and ensure you fully understand our Risk Disclosure. Not Financial Advice. Trade at your own risk. Take Partial Profits, Use Strict Stop Loss, and Proper Risk Management.
FAQs
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What is the significance of MACD in trading? MACD helps traders identify momentum and potential reversals in the market.
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Where can I find more educational resources? Explore our Free K9 Trading Education Articles & Blog for valuable insights.
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