ConanTradingFX

A recent Kitco News survey shows a broad sense of optimism about the gold price outlook. The majority of experts (94%) predict further price gains, while only one analyst (6%) sees no significant change.However, gold’s ability to maintain its value may be challenged by concerns about the US dollar, which could see demand revive as the ‘Trump rally’ is revived. Additionally, with no major US economic data due for release on Monday, the focus will remain on risk sentiment and speeches from several Fed policymakers to provide fresh impetus to gold prices.When it comes to trading strategies for the start of this week, the priority will be given to buying in view of the Fibonacci extension on the bullish channel as mentioned on D1.good

Hello everyone, what do you think about the gold price?Today, the gold price is on an upward trend, after the buyers previously completed conquering the highs at 2661 -2700 - 2720 respectively, the price has started to increase and is currently trading at a new high of 2721 dollars. This increase is due to the fact that the two largest and second largest economies in the world, the US and China, have both announced negative economic data, which has boosted the demand for gold reserves. In addition to the reason for the poor economic information, investors expect the US Federal Reserve to cut the USD interest rate in early November, the market also expects the upcoming US election in November.As seen on the 4-hour chart, the gold price has been continuously pushed up since the price broke out of the downtrend and in addition, the new peak is still unclear before the weekend close, showing that the upward trend will continue. Using the Fibonacci extension, I expect and forecast that the gold price will likely move in the Elliott wave (1,2,3,4,5) and target higher levels at around 1.618 i.e. (2739) and if 1.272 (2717) holds, the price will increase higher to level 2 (2762) to continue to set as the final target.At this time, the realization phase is forming, Conan is waiting for confirmation with the aim of further strengthening in the coming time. What do you think about this view?Good luckgreatBoom +500 pips sell - buy.

Hello everyone!Overall, Gold is trying to maintain its upward momentum from today's Asian session, despite the risk aversion from China. The weakness in the USD continues to provide momentum for gold.Currently, a cup with handle pattern has appeared, indicating a positive signal for the medium-term outlook. However, the important resistance level of $2,670 is a big challenge. If buyers can take advantage of the strong momentum from the $2,660 - $2,665 zone, supported by the 34 EMA that has not shown any signs of reversal, then gold could definitely break out to $2,680 in the short term.

Dear Friends.Today, gold is trading around $2649 and is little changed from the same time yesterday.Accordingly, gold prices have fallen after hitting an intraday high of $2666 on Monday as China's stimulus measures failed to save financial markets and the greenback continued to rise.However, when looking closely at the 2-hour chart, the technical picture is quite similar after gold prices broke through the resistance of the downtrend channel, gold prices increased and consolidated their value. Technically, it can be seen that gold prices are reacting around the 34 EMA and the barrier held by active buyers has not been broken, which shows that the uptrend is not over yet. Due to these factors, in 's personal opinion, if gold can successfully overcome the nearest resistance level this week at 2660 - 2677, the opportunity to increase will be very large, possibly reaching the $2700 mark.

Dear traders, Conan here!Today, gold is in a strong uptrend after all the attempts of the bears failed to reclaim the $2600 level, the price has started to increase and is currently at $2650. The increase is mainly due to the 80% chance that the Fed will tend to cut interest rates by 25 basis points in November, while there is a 20% chance that interest rates will remain unchanged. Lowering interest rates can reduce the opportunity cost of holding gold, thus supporting the price of gold.With positive signs from the fundamental news and in addition, gold is still reacting around the 34 EMA and the technical uptrend has not been broken when looking closely as on the 1-hour chart, we can fully expect the uptrend to remain completely dominant. Due to these factors, in Conan's personal opinion, gold prices are expected to remain attractive in the near term, with the possibility of rising to $2750. What do you think about this view?

With positive signals from the breakout of the downtrend channel and the support of the EMAs, gold (XAUUSD) is showing a great opportunity for investors. If the price continues to hold above the $2,636 zone and breaks out above the $2,665 level, we can expect a strong rally to $2,680 and beyond.Trading recommendation: Investors can consider buying orders when the price remains above the $2,636 support zone, with profit targets at $2,665 and $2,680.

Dear friends, XAUUSD continues to gain some recovery momentum as it has reclaimed 2600, but the main trend and the long-term trend are still moving sideways.Currently, the price is approaching the psychological level of 2650 and at the same time is approaching the limits of the Bollinger Bands. A downside correction is expected when the pair reaches the level, the targets are the support levels of 2625 and 2605.And you, how do you think XAUUSD will move on the last trading day of the week!

Hi everyone!The global gold price continues its downward spiral today, extending its decline from the peak of $2,670 per ounce and at times dropping close to the $2,600 mark. This marks the sixth consecutive day of losses for the yellow metal, with the primary reason being the strong rally of the US dollar. The US Dollar Index has now hit its highest point in nearly two months, making gold more "expensive" for those trading in other currencies.Adding to the pressure, the market is also grappling with expectations around the US Federal Reserve's (Fed) potential interest rate cut in the upcoming November meeting. According to the latest Fed policy meeting minutes, some officials are leaning toward a more significant rate cut, while others favor a more conservative 25 basis point cut, arguing that a 50-point cut might be too risky.

Hello everyone!Today, gold is showing a clear downtrend. Especially after breaking through the key support level at $2630, the downward trend has become even more pronounced. This decline is further confirmed as gold continues to trade below the EMA 34-89 moving averages and remains confined within a parallel descending channel (2625 - 2645), signaling that buying momentum in the market is gradually weakening.Additionally, investor sentiment has been dampened as expectations of the Fed maintaining its loose monetary policy have significantly diminished. This has given the USD more strength, further pressuring gold, a non-yielding asset.With these clear signs of weakness, according to Conan's analysis, it's highly likely that gold will continue to drop in the short term, potentially falling below the $2600 mark as long as the descending channel remains intact.

At the start of Tuesday’s trading session, gold (XAUUSD) is hovering around $2,646, with a modest increase of 0.17% on the day. However, the precious metal lacks strong momentum, as the U.S. jobs report exceeded expectations, dampening hopes of a significant rate cut by the Federal Reserve. This has driven up U.S. Treasury yields and strengthened the USD, putting downward pressure on gold prices.From both a fundamental and technical perspective, a further decline in gold could be expected, especially if it reacts to the trendline or resistance levels. A selling strategy could be considered if sellers capitalize on the price correction influenced by the 34 and 89 EMA indicators.