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Current Market Price
As of today, the live market price of Gold (XAUUSD) is $2910.
Market Analysis Overview
In this analysis, we will delve into the daily and 4-hour time frames for Gold (XAUUSD), utilizing various technical indicators such as Fibonacci Retracement Levels, EMA (Exponential Moving Averages), RSI divergence, Weekly and Daily Pivots, Smart Money Concepts (SMC), Support & Resistance Levels, Order Blocks, and MACD.
Support & Resistance Levels
Understanding support and resistance levels is crucial for traders. On the daily time frame, key support and resistance levels are identified based on historical price action. For the 4-hour time frame, these levels can offer more immediate insights into potential price movements.
Daily Support Levels:
Level 1: $2890
Level 2: $2875
Level 3: $2850
Daily Resistance Levels:
Level 1: $2920
Level 2: $2940
Level 3: $2960
Fibonacci Retracement Levels
Fibonacci levels help in identifying potential retracement areas. The daily swing levels indicate that the key Fibonacci levels for Gold are:
23.6%: $2900
38.2%: $2885
61.8%: $2870
Exponential Moving Averages (EMA)
The EMA is vital for understanding market trends. The following EMA levels are observed:
Daily Time Frame:
EMA 50: $2905
EMA 100: $2898
EMA 200: $2880
EMA 400: $2865
4-Hour Time Frame:
EMA 50: $2903
EMA 100: $2897
EMA 200: $2882
EMA 400: $2870
RSI Divergence
The Relative Strength Index (RSI) is a momentum oscillator that measures the speed and change of price movements. Currently, the RSI shows a divergence, indicating potential price reversals.
Order Blocks
Order blocks are essential for understanding institutional trading. The recent order blocks for Gold can be identified around the $2900 and $2880 levels.
MACD
The Moving Average Convergence Divergence (MACD) indicator is currently showing bullish momentum, suggesting a potential upward trend in the near term.
Summary of Key Levels
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Key Levels:
Daily Support and Resistance:
Support: $2890, $2875, $2850
Resistance: $2920, $2940, $2960
Exponential Moving Average (EMA) Levels:
Daily Time Frame: 50: $2905, 100: $2898, 200: $2880, 400: $2865
4-Hour Time Frame: 50: $2903, 100: $2897, 200: $2882, 400: $2870
Weekly Pivots:
Pivot Point: $2905
Support: $2890
Resistance: $2920
Daily Pivots:
Pivot Point: $2900
Support: $2895
Resistance: $2915
Fibonacci Retracement Levels: 23.6%: $2900, 38.2%: $2885, 61.8%: $2870
Fundamental Analysis and Upcoming USD News
📈 Upcoming important USD news can significantly affect the Gold market. Traders should keep an eye on the following events this month:
CPI Report Release: Expected to impact inflation expectations.
Federal Reserve Meeting: Decisions on interest rates could lead to volatility in Gold prices.
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Conclusion
In conclusion, the analysis of Gold (XAUUSD) indicates a potential upward trend based on various technical indicators. As traders, it is essential to remain informed about market conditions and upcoming economic news. For more insights and live trading setups, don't hesitate to contact us via WhatsApp or join our FREE Telegram channel: @K9_Investments_GoldTrading.
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