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🟡 Gold XAUUSD Daily Market Analysis – 16 Oct 2024 by K9 Investments Trading

Updated: Nov 16

💬 WhatsApp K9 Investments Trading www.k9investmentstrading.com for FREE Gold Forex Live Trade Setups & Market Analysis.


Live Market Price: The current live price of Gold (XAUUSD) is 2,666 USD.


📈 Gold XAUUSD Intraday Signals by K9 Investments Trading – www.k9investmentstrading.com

  1. Buy Signal Setup:

    • Trade Entry: 2,660 USD

    • Stop Loss: 2,645 USD

    • Take Profit 1: 2,675 USD

    • Take Profit 2: 2,690 USD

    The buy setup is based on the current market holding above the Fibonacci retracement level of 61.8%, suggesting a potential bullish continuation from the daily support level near 2,660 USD.


  2. Sell Signal Setup:

    • Trade Entry: 2,675 USD

    • Stop Loss: 2,685 USD

    • Take Profit 1: 2,650 USD

    • Take Profit 2: 2,635 USD

    The sell signal is triggered if Gold faces resistance at the 23.6% Fibonacci level on the daily chart, along with an RSI divergence indicating potential downward momentum.


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.



🔍 Market Analysis Section

Support & Resistance Analysis

  • Daily Support Levels: 2,660 USD, 2,635 USD

  • Daily Resistance Levels: 2,675 USD, 2,690 USD

  • 4-Hour Support Levels: 2,655 USD, 2,645 USD

  • 4-Hour Resistance Levels: 2,670 USD, 2,685 USD


Fibonacci Retracement Levels

  • Daily Swing High: 2,690 USD

  • Daily Swing Low: 2,635 USD

  • Retracement Levels:

    • 23.6%: 2,675 USD

    • 38.2%: 2,660 USD

    • 61.8%: 2,645 USD


Exponential Moving Averages (EMA)

  • Daily EMA Levels:

    • 50 EMA: 2,640 USD

    • 100 EMA: 2,615 USD

    • 200 EMA: 2,580 USD

    • 400 EMA: 2,540 USD


  • 4-Hour EMA Levels:

    • 50 EMA: 2,655 USD

    • 100 EMA: 2,630 USD

    • 200 EMA: 2,610 USD

    • 400 EMA: 2,580 USD


RSI Divergence

The daily RSI is showing bullish divergence, suggesting a potential reversal near the 61.8% Fibonacci level, signaling buying opportunities around 2,660 USD.


Order Blocks

  • Bullish Order Block: 2,635 USD – 2,645 USD

  • Bearish Order Block: 2,675 USD – 2,685 USD


MACD Analysis

The MACD histogram on the 4-hour chart is turning positive, indicating a likely bullish momentum continuation as long as Gold remains above 2,660 USD.


📊 Summary – Gold XAUUSD Daily Analysis by K9 Investments Trading

🥇 FREE Telegram Channel: @K9_Investments_GoldTrading

  • Key Levels:

    • Daily Support: 2,660 USD, 2,635 USD

    • Daily Resistance: 2,675 USD, 2,690 USD

    • 4-Hour Support: 2,655 USD, 2,645 USD

    • 4-Hour Resistance: 2,670 USD, 2,685 USD


  • EMA Levels (Daily): 50 EMA (2,640 USD), 100 EMA (2,615 USD), 200 EMA (2,580 USD), 400 EMA (2,540 USD)

  • EMA Levels (4-Hour): 50 EMA (2,655 USD), 100 EMA (2,630 USD), 200 EMA (2,610 USD), 400 EMA (2,580 USD)

  • Weekly Pivots: 2,660 USD, 2,635 USD, 2,690 USD

  • Daily Pivots: 2,665 USD, 2,645 USD, 2,675 USD


📈 Fundamental Analysis and USD News

  • Upcoming Important News: The upcoming U.S. Non-Farm Payrolls report may significantly impact Gold prices due to its effect on USD strength. A stronger-than-expected report could pressure Gold lower, while weaker data may support Gold's upward move.


📑 Frequently Asked Questions

1. Why is K9 Investments the best signal provider?

K9 Investments offers not only FREE signals but also educational resources, daily market analysis, and ebooks. Learn more about K9 Investments.


2. Which brokers are trusted for Gold Forex Crypto trading?

We recommend brokers like Vantage, Exness, OctaFX, XM, and FP Markets.


3. How do I get free Gold Forex signals?

Sign up at www.k9investmentstrading.com to receive FREE daily signals and analysis.


4. What is the best time to trade XAUUSD?

The optimal time is during U.S. and London trading sessions, when liquidity is highest.


5. Is Gold trading suitable for beginners?

Yes, but learning basic strategies is important. Check out our free educational resources.


6.How Can I Start My Forex, Gold, or Crypto Trading Journey?

Starting your trading journey with K9 Investments is simple. Open an account with one of the recommended brokers, such as Vantage, Exness, or XM, and join our FREE Telegram Channel for daily signals and market analysis. You'll receive educational support, trade setups, and risk management tips to help you succeed.


Check out our Brokers for starting your trading journey:


7. What is the difference between daily and 4-hour analysis?

Daily charts provide long-term trend insights, while 4-hour charts help with intraday setups.


8. Can I trade XAUUSD with a $100 account?

Yes, with proper risk management. Use micro-lots and set strict stop-loss orders.


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