How To Make Money Today: Daily Gold (XAUUSD) Market Analysis and Forex Trading Signals 1 April 2022
To assist you to make a good day-trading selection, we’ll cover the newest forex market analysis. Make more money today with our market analysis. You must know how to trade first, and have at least a simple understanding of chart patterns. Aside from that, we’ll cover some basic tips and methods that can aid anybody curious in day trading strategies. So let’s start by looking at some charts from today…
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XAU/USD (GOLD):
On the weekly, prices are on bullish momentum. We see the potential for a bounce from our 1st support at 1880.940 in line with 50% Fibonacci retracement towards our 1st resistance at 2008.939 which is an area of Fibonacci confluences. On the daily, prices are on bullish momentum. We see the potential for further bullish continuation from our 1st support at 1910.771 in line with 78.6% Fibonacci retracement towards our 1st resistance at 1967.332 in line with 100% Fibonacci projection. Prices are trading above our ichimoku clouds, further supporting our bullish bias. On the H4, prices are on bullish momentum and abiding by our ascending trendline support. We see the potential for further bullish continuation from our 1st support at 1932.623 which is in line with 23.6% Fibonacci retracement towards our 1st resistance at 1950.056 in line which is a graphical swing high. Ichimoku is supporting our bullish bias.
Areas of consideration:
- 4h 1st support at 1932.623
- 4h 1st resistance at 1950.056
Gold futures: In the short run, the recovery may be hampered.
On Thursday, according to CME Group’s flash statistics for gold futures markets, open interest fell by roughly 9.1K contracts, reversing the prior daily gain. Instead, volume increased by roughly 9.3K contracts, somewhat reversing Wednesday’s steep decline.
With falling open interest, gold prices briefly hit the $1950 mark on Thursday, indicating that more increases look to be out of favor in the immediate term. However, bullish efforts in the precious metal have so far been restricted to recent weekly heights around $1970 per ounce troy.
XAU/USD pivoting around vital $1,935 barrier ahead of NFP – Confluence Detector Gold Price Forecast: XAU/USD pivoting around important $1,935 barrier ahead of NFP
- The gold market is putting bearish commitments to the test ahead of the crucial US NFP report.
- As Treasury rates rise, the US currency strengthens even more. Peace negotiations are also being considered.
- Gold Price Analysis: XAU/USD is flirting with a critical daily golden ratio of 61.8 percent.
The gold market has started the new quarter on a high note, holding its previous gains ahead of the crucial US Nonfarm Payrolls report. The non-yielding gold has benefited from this week’s corrective fall in US Treasury rates throughout the curve, as the bond carnage has paused. Looking forward, it remains to be seen whether the gold price will maintain its upward trend as investors await US employment data, which is expected to confirm a 50 basis point Fed rate rise in May. The online peace negotiations between Russia and Ukraine, which are set to begin later this Friday, are also in the spotlight.
Gold Price: Key levels to watch
Gold is challenging the Fibonacci 38.2 percent one-day at $1,939, according to the Technical Confluences Detector, as it heads for the next upward objective at $1,943 – the Fibonacci 23.6 percent one-day.
To accelerate bullish advances towards $1,953, gold bulls must break over $1,946, the Fibonacci 38.2 percent one-week level. The Fibonacci 23.6 percent one-week, Bollinger Band one-day Middle, and pivot point one-day R1 all meet at that level.
For gold purchasers, the junction of the previous year’s high and the Fibonacci 61.8 percent one-month at $1,960 will be the target.
The immediate cushion, on the other hand, may be found around $1,935, where the SMA5 one-day converges with the SMA200 four-hour.
Acceptance below the latter would need a test of the $1,931 demand area, which is the Fibonacci 61.8 percent one-week and one-day Fibonacci Fibonacci Fibonacci Fibonacci Fibonacci Fibonacci Fibonacci Fibonacci Fibonacci Fibona
The pivot point one-week S1 is set at $1,925, which is the next meaningful downside cap.
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