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🟡 Gold XAUUSD Weekly Market Analysis 19th OCT 2024 by K9 Investments Trading

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


Gold (XAUUSD) is currently trading at $2721.


Intraday Signals (XAUUAD)

🥇 FREE Telegram Channel: @K9_Investments_GoldTrading

🟢 Intraday Buy Signal

  • Entry: 2715 USD

  • Stop Loss: 2700 USD

  • Take Profit 1: 2735 USD

  • Take Profit 2: 2750 USD

🔴 Intraday Sell Signal

  • Entry: 2730 USD

  • Stop Loss: 2745 USD

  • Take Profit 1: 2710 USD

  • Take Profit 2: 2695 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.


🔍 Gold XAUUSD Market Analysis

Overview of Gold XAUUSD

The Gold market today continues to hover around $2721, showing consolidation near key support and resistance levels. On the Weekly and 4-hour timeframes, price action remains influenced by significant levels identified using indicators such as Fibonacci Retracement, EMAs, RSI divergence, and order blocks.


Key Technical Indicators

🗺️ Support & Resistance Levels

  • Weekly Support: 2700 USD

  • Weekly Resistance: 2750 USD

  • 4-hour Support: 2710 USD

  • 4-hour Resistance: 2735 USD

🔄 Fibonacci Retracement Levels

The most recent swing high of 2750 USD and swing low of 2680 USD provides the following Fibonacci retracement levels:

  • 23.6%: 2715 USD

  • 50.0%: 2710 USD

  • 61.8%: 2705 USD

These levels will act as important pivot points for today’s intraday trades.

📈 Exponential Moving Averages (EMA)

  • Weekly EMA Levels

    • 50 EMA: 2718 USD

    • 100 EMA: 2725 USD

    • 200 EMA: 2740 USD

    • 400 EMA: 2765 USD

  • 4-hour EMA Levels

    • 50 EMA: 2712 USD

    • 100 EMA: 2720 USD

    • 200 EMA: 2732 USD

    • 400 EMA: 2755 USD

💹 RSI Divergence

The RSI shows a bearish divergence on the 4-hour chart, indicating potential selling pressure around the 2730 USD level. If price breaks below 2710 USD, we could see further downside movement.

📊 MACD Analysis

The MACD on the Weekly chart is showing a slight bullish crossover, suggesting that momentum could favor the upside in the near term, especially if the price breaks above the 2735 USD resistance level.

🛑 Smart Money Concepts (SMC)

Gold is showing strong order blocks around the 2700 USD support zone, with liquidity building up in this area. This could provide an opportunity for large institutional players to step in, pushing the price higher towards 2750 USD.

💡 Gold XAUUSD Weekly Analysis Summary by K9 Investments Trading www.k9investmentstrading.com

🥇 FREE Telegram Channel: @K9_Investments_GoldTrading


XAUUSD

🔑 Key Levels

  • Weekly Support & Resistance:

    • Support: 2700 USD

    • Resistance: 2750 USD

  • 4-Hour Support & Resistance:

    • Support: 2710 USD

    • Resistance: 2735 USD

  • EMA (Weekly):

    • 50 EMA: 2718 USD

    • 100 EMA: 2725 USD

    • 200 EMA: 2740 USD

    • 400 EMA: 2765 USD

  • EMA (4-hour):

    • 50 EMA: 2712 USD

    • 100 EMA: 2720 USD

    • 200 EMA: 2732 USD

    • 400 EMA: 2755 USD

  • Weekly Pivots:

    • Resistance 1: 2740 USD

    • Pivot: 2715 USD

    • Support 1: 2700 USD

  • Weekly Pivots:

    • Resistance 1: 2730 USD

    • Pivot: 2715 USD

    • Support 1: 2705 USD

  • Fibonacci Retracement:

    • 23.6%: 2715 USD

    • 50.0%: 2710 USD

    • 61.8%: 2705 USD

📉 Fundamental Analysis and USD News

Gold prices are expected to remain volatile this week due to upcoming key USD economic data releases, including the US Federal Reserve interest rate decision and Non-Farm Payroll (NFP) report. Traders should monitor these events as they can significantly impact the Gold market, influencing both short-term and long-term price trends.

If the USD strengthens, we may see downward pressure on Gold prices. Conversely, weaker USD data could propel Gold towards the 2750 USD resistance.

📑 FAQs

1. Why is K9 Investments the best signal provider? K9 Investments offers FREE signals, educational resources,Weekly market analysis, and ebooks for traders at every level. 💎 Free Gold Forex Trading Ebooks: www.k9investmentstrading.com/free-gold-forex-trading-ebooks💡 Free K9 Trading Education Articles & Blog: www.k9investmentstrading.com/free-k9-trading-education-articles-blog

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3.What time frame should I use for Gold XAUUSD trading? For intraday trades, focus on the 4-hour and daily time frames for clearer signals and stronger trends.


4.How do I start trading Gold XAUUSD with K9 Investments' signals? Simply follow the signals shared in our Telegram channel, set up your trade entries, and use the recommended stop loss and take profit levels for risk management.


5.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.

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