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💬 WhatsApp K9 Investments Trading at www.k9investmentstrading.com for FREE Gold Forex Live Trade Setups & Market Analysis. Stay ahead in the fast-paced Gold market with accurate signals and insights.
🔹Current Gold Price: $2,656 USD
Intraday Signals by K9 Investments Trading www.k9investmentstrading.com
🥇 Join our FREE Telegram Channel: @K9_Investments_GoldTrading for live signals and market analysis.
1. Buy Signal:
Entry: $2,650
Stop Loss: $2,640
Take Profit 1: $2,670
Take Profit 2: $2,685
2. Sell Signal:
Entry: $2,660
Stop Loss: $2,670
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. Ensure you fully understand the risks involved, and seek independent advice if necessary. Read our Risk Disclosure. Not Financial Advice. Trade at your own risk. Take Partial Profits, Use Strict Stop Loss, and Proper Risk Management.
🔍 Gold XAUUSD Market Analysis
Daily Timeframe Analysis
The Gold XAUUSD market is trading around $2,656 USD, showing volatility amidst key support and resistance zones. The following technical indicators offer insights into today’s price action:
Support Levels:
$2,640 (Major Support)
$2,620 (Daily Support)
Resistance Levels:
$2,670 (Daily Resistance)
$2,685 (Strong Resistance Level)
Fibonacci Retracement Levels
Using Fibonacci retracement levels based on the previous swing high at $2,690 and swing low at $2,620:
23.6% Level: $2,640
38.2% Level: $2,650
50% Level: $2,655
These levels align with our intraday setups, especially at the 50% and 38.2% Fibonacci levels, indicating strong confluence for potential reversal trades.
EMA (50/100/200/400) Levels
Daily Timeframe EMAs:
50 EMA: $2,645
100 EMA: $2,630
200 EMA: $2,600
400 EMA: $2,580
4-Hour Timeframe EMAs:
50 EMA: $2,660
100 EMA: $2,650
200 EMA: $2,640
400 EMA: $2,620
RSI Divergence
The RSI (Relative Strength Index) on the daily chart is currently at 53, showing a neutral market with no significant overbought or oversold conditions. However, slight bullish divergence has been spotted on the 4-hour chart, suggesting upward momentum may build in the short term.
Smart Money Concepts (SMC) and Order Blocks
Key order blocks on the daily chart are forming around $2,640, which coincides with a major support level. Institutional buying pressure can be anticipated here, making it a strong demand zone.
MACD Indicator
The MACD shows a bullish crossover on the 4-hour chart, reinforcing the potential for short-term upward movement. However, the daily chart remains neutral, so traders should wait for more confirmation before committing to larger trades.
📈 Fundamental Analysis and Upcoming USD News
This week, the market is awaiting U.S. Retail Sales data set to release on 16th Oct 2024. A strong retail sales report could lead to a bullish USD, putting downward pressure on Gold prices. Stay alert to the news release as it can significantly impact Gold XAUUSD.
Additionally, FOMC Minutes are due this month, which could shape market sentiment around interest rates. Higher rates typically weaken gold, as it offers no yield. Keep an eye on any hawkish commentary.
💡Gold XAUUSD Daily Analysis Summary by K9 Investments Trading www.k9investmentstrading.com
🥇 Join our FREE Telegram Channel: @K9_Investments_GoldTrading for live signals and market analysis.
Key Levels:
Daily Support: $2,640
Daily Resistance: $2,670
4-Hour Support: $2,645
4-Hour Resistance: $2,660
EMAs:
Daily EMAs: 50 EMA at $2,645, 100 EMA at $2,630
4-Hour EMAs: 50 EMA at $2,660, 100 EMA at $2,650
Weekly Pivots:
Pivot 1: $2,655
Pivot 2: $2,675
Pivot 3: $2,620
Fibonacci Retracement Levels:
23.6%: $2,640
38.2%: $2,650
50%: $2,655
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4.What is XAUUSD Trading?
XAUUSD trading refers to the buying and selling of gold (XAU) against the US Dollar (USD) in the Forex market. Traders speculate on the price movement of gold, benefiting from both rising and falling prices. Since gold is a popular safe-haven asset, many investors trade XAUUSD during times of market volatility to hedge against risk.
5.What are the best times for XAUUSD trading in India?
The ideal time for XAUUSD trading in India is during the overlap of the London and New York trading sessions, which falls between 1:30 PM and 8:30 PM IST. This period offers high liquidity and volatility, providing better trading opportunities. Indian traders can capitalize on the active market hours when major financial hubs are open, leading to faster price movements.
6.Is XAUUSD trading suitable for beginners in India?
Yes, XAUUSD trading can be suitable for beginners in India, provided they understand the market and practice proper risk management. Beginners should start by learning about gold price factors, market trends, and trading strategies. Using demo accounts and following expert signals like those offered by K9 Investments can help Indian traders gain confidence before trading live with real funds. Hashtags: #XAUUSD #GoldTrading #XAUUSDTrading #ForexTrading #GoldForex #XAUUSDAnalysis
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