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Current Market Overview
As of today, the live market price for Gold (XAUUSD) is $2907. This analysis will delve into daily and 4-hour time frames, utilizing various technical indicators to provide a comprehensive understanding of the market dynamics.
Technical Analysis
🔍 Support & Resistance Levels
To effectively trade Gold, identifying support and resistance levels is crucial. On the daily timeframe, we observe:
Daily Support Levels: $2850, $2880, $2900
Daily Resistance Levels: $2920, $2950, $2980
On the 4-hour timeframe, the levels adjust slightly:
4-Hour Support Levels: $2890, $2905, $2910
4-Hour Resistance Levels: $2925, $2935, $2945
Fibonacci Retracement Levels
Using Fibonacci retracement levels, we can identify potential reversal points in the market. The daily swing levels indicate:
Fibonacci Levels: 23.6% at $2910, 38.2% at $2895, and 61.8% at $2870.
Moving Averages (EMA)
The Exponential Moving Averages (EMA) on both daily and 4-hour time frames provide insights into market trends:
Daily EMA Levels:
EMA 50: $2880
EMA 100: $2865
EMA 200: $2850
EMA 400: $2840
4-Hour EMA Levels:
EMA 50: $2900
EMA 100: $2910
EMA 200: $2920
EMA 400: $2930
RSI Divergence
The Relative Strength Index (RSI) shows divergence patterns that can signal potential reversals. Currently, the RSI is at 65, indicating overbought conditions. Traders should watch for potential corrections.
Order Blocks
Identifying order blocks helps traders understand where significant buying or selling has occurred. Key order blocks on the daily chart are located around $2900 and $2920.
MACD Analysis
The Moving Average Convergence Divergence (MACD) indicator is currently bullish, with the MACD line above the signal line, suggesting upward momentum in the Gold market.
Summary of Key Levels
💡 Gold XAUUSD Daily Analysis Summary by K9 Investments Trading – Contact Us 🥇 Join our FREE Telegram Channel: @K9_Investments_GoldTrading
Key Levels:
Daily Support and Resistance:
Support: $2850, $2880, $2900
Resistance: $2920, $2950, $2980
Exponential Moving Averages (EMA):
Daily: 50 ($2880), 100 ($2865), 200 ($2850), 400 ($2840)
4-Hour: 50 ($2900), 100 ($2910), 200 ($2920), 400 ($2930)
Weekly Pivots:
Pivot Point: $2900
Resistance Levels: $2925, $2940
Support Levels: $2875, $2860
Daily Pivots:
Pivot Point: $2905
Resistance Levels: $2920, $2935
Support Levels: $2890, $2880
Fibonacci Retracement Levels:
23.6%: $2910
38.2%: $2895
61.8%: $2870
Fundamental Analysis
📈 Upcoming important USD news that could impact the Gold market includes:
U.S. Non-Farm Payrolls Report: Scheduled for next week, this report may affect market volatility.
Federal Reserve Interest Rate Decision: Expected later this month, could have significant implications for Gold prices.
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