GOLD_108 2024.11.05 14:24:05 Trading Signal SELL
FrankPro Signal for GOLD_108
Type: Screen
Signal: SELL
TP: 2726.69
SL: 2748.14
Entry Price: 2744.84
Analysis for GOLD
Forecast Overall(Short-Term, Long-Term): ST=Strong Down LT=Strong Up
Forecast Methods(Short-Term, Long-Term):
[Method0] ST=Up LT=Up
[Method1] ST=Down LT=Up
[Method2] ST=Down LT=Up
Analysis Method(0)
Based on the provided analysis, I will provide separate short-term and long-term expectations for the XAU/USD price.
**Short-term Expectation (next few days/week):**
Given the current market caution ahead of the US presidential election and the Federal Reserve's policy announcement, I expect the gold price to remain volatile but with a slight upward bias. The technical analysis suggests that the gold price is challenging the key $2,730 demand area, and the 14-day RSI is near 59, indicating some buying interest. Additionally, the support levels at $2,718, $2,700, and $2,673 are likely to hold, preventing a sharp decline.
Therefore, in the short term, I expect the gold price to **stay the same** or experience a **slight increase**, potentially testing the $2,746 resistance level.
**Long-term Expectation (next few weeks/months):**
Considering the two forecast scenarios, I believe that the **Bullish Scenario** is more likely to play out. The mixed labor market report and expectations of a 25 basis points interest rate cut by the Fed are likely to support gold prices. Additionally, the technical analysis suggests that a breakout above the $2,746 resistance level could lead to a continued growth with a potential target above $2,875.
Therefore, in the long term, I expect the gold price to **go up**, potentially reaching the target above $2,875.
Please note that these expectations are based on the provided analysis and are subject to change as new information becomes available.
Result: [Method0] ST=Up LT=Up
Analysis Method(1)
Based on the provided analysis, here is my assessment of the expected price movement for XAU/USD (Gold) in both the short-term and long-term:
**Short-term (next few days to a week)**
* The price is expected to stay the same or experience a slight decline. The market is cautious ahead of the US presidential election and the Federal Reserve's policy announcements, which may lead to a temporary consolidation or a small pullback.
* The support level near $2,730 is crucial, and if it holds, the price may rebound. However, if it breaks, the price could test the $2,718 or $2,700 levels.
* The 14-day RSI indicates revived buying interest, but it's not strong enough to suggest a significant short-term uptrend.
**Long-term (weeks to months)**
* The price is expected to go up. The forecast suggests that gold may test the support level near $2,690 before rebounding and continuing its growth, with a target above $3,175.
* A breakout above the $2,905 resistance area would confirm the growth scenario, and a successful breakout above $2,800 could lead to a test of the all-time high at $2,790.
* The overall outlook is bullish, with the market expecting a continuation of the uptrend once the uncertainty surrounding the US election and Fed's policy announcements is resolved.
Please note that these assessments are based on the provided analysis and are subject to change as new information becomes available.
Result: [Method1] ST=Down LT=Up
Analysis Method(2)
**Short-term Analysis (Next few days)**
Based on the technical analysis and market context, I expect the gold price to remain volatile in the short-term, with a slight bias towards a pullback or correction. The 14-day RSI is near 60, indicating some buying interest, but the price is still below the $2,746 resistance level, which is the 23.6% Fibonacci Retracement level of the recent rally.
The key support levels at $2,730 and $2,718 are crucial, and a failure to hold above these levels could lead to a drop to around $2,711. Additionally, the market is cautious ahead of the US presidential election and the Fed's policy announcements, which could lead to price movements of at least $100 in either direction.
**Prediction:** Short-term price movement: **DOWN** (with a target of around $2,711)
**Long-term Analysis (Next few weeks/months)**
In the long-term, the gold price is expected to continue its growth trend, with a potential target above the $3,175 level. The ascending channel and the 21-day SMA at $2,700 provide a strong support base for the price.
However, the long-term outlook is highly dependent on the outcomes of the US presidential election and the Fed's policy decisions. A dovish Fed and a risk-off sentiment could lead to a surge in gold prices, while a hawkish Fed and a risk-on sentiment could lead to a correction.
**Prediction:** Long-term price movement: **UP** (with a target above $3,175)
Please note that these predictions are based on the available data and are subject to change as new information becomes available.
Result: [Method2] ST=Down LT=Up
Type: Screen
Signal: SELL
TP: 2726.69
SL: 2748.14
Entry Price: 2744.84
Analysis for GOLD
Forecast Overall(Short-Term, Long-Term): ST=Strong Down LT=Strong Up
Forecast Methods(Short-Term, Long-Term):
[Method0] ST=Up LT=Up
[Method1] ST=Down LT=Up
[Method2] ST=Down LT=Up
Analysis Method(0)
Based on the provided analysis, I will provide separate short-term and long-term expectations for the XAU/USD price.
**Short-term Expectation (next few days/week):**
Given the current market caution ahead of the US presidential election and the Federal Reserve's policy announcement, I expect the gold price to remain volatile but with a slight upward bias. The technical analysis suggests that the gold price is challenging the key $2,730 demand area, and the 14-day RSI is near 59, indicating some buying interest. Additionally, the support levels at $2,718, $2,700, and $2,673 are likely to hold, preventing a sharp decline.
Therefore, in the short term, I expect the gold price to **stay the same** or experience a **slight increase**, potentially testing the $2,746 resistance level.
**Long-term Expectation (next few weeks/months):**
Considering the two forecast scenarios, I believe that the **Bullish Scenario** is more likely to play out. The mixed labor market report and expectations of a 25 basis points interest rate cut by the Fed are likely to support gold prices. Additionally, the technical analysis suggests that a breakout above the $2,746 resistance level could lead to a continued growth with a potential target above $2,875.
Therefore, in the long term, I expect the gold price to **go up**, potentially reaching the target above $2,875.
Please note that these expectations are based on the provided analysis and are subject to change as new information becomes available.
Result: [Method0] ST=Up LT=Up
Analysis Method(1)
Based on the provided analysis, here is my assessment of the expected price movement for XAU/USD (Gold) in both the short-term and long-term:
**Short-term (next few days to a week)**
* The price is expected to stay the same or experience a slight decline. The market is cautious ahead of the US presidential election and the Federal Reserve's policy announcements, which may lead to a temporary consolidation or a small pullback.
* The support level near $2,730 is crucial, and if it holds, the price may rebound. However, if it breaks, the price could test the $2,718 or $2,700 levels.
* The 14-day RSI indicates revived buying interest, but it's not strong enough to suggest a significant short-term uptrend.
**Long-term (weeks to months)**
* The price is expected to go up. The forecast suggests that gold may test the support level near $2,690 before rebounding and continuing its growth, with a target above $3,175.
* A breakout above the $2,905 resistance area would confirm the growth scenario, and a successful breakout above $2,800 could lead to a test of the all-time high at $2,790.
* The overall outlook is bullish, with the market expecting a continuation of the uptrend once the uncertainty surrounding the US election and Fed's policy announcements is resolved.
Please note that these assessments are based on the provided analysis and are subject to change as new information becomes available.
Result: [Method1] ST=Down LT=Up
Analysis Method(2)
**Short-term Analysis (Next few days)**
Based on the technical analysis and market context, I expect the gold price to remain volatile in the short-term, with a slight bias towards a pullback or correction. The 14-day RSI is near 60, indicating some buying interest, but the price is still below the $2,746 resistance level, which is the 23.6% Fibonacci Retracement level of the recent rally.
The key support levels at $2,730 and $2,718 are crucial, and a failure to hold above these levels could lead to a drop to around $2,711. Additionally, the market is cautious ahead of the US presidential election and the Fed's policy announcements, which could lead to price movements of at least $100 in either direction.
**Prediction:** Short-term price movement: **DOWN** (with a target of around $2,711)
**Long-term Analysis (Next few weeks/months)**
In the long-term, the gold price is expected to continue its growth trend, with a potential target above the $3,175 level. The ascending channel and the 21-day SMA at $2,700 provide a strong support base for the price.
However, the long-term outlook is highly dependent on the outcomes of the US presidential election and the Fed's policy decisions. A dovish Fed and a risk-off sentiment could lead to a surge in gold prices, while a hawkish Fed and a risk-on sentiment could lead to a correction.
**Prediction:** Long-term price movement: **UP** (with a target above $3,175)
Please note that these predictions are based on the available data and are subject to change as new information becomes available.
Result: [Method2] ST=Down LT=Up
คำจำกัดสิทธิ์ความรับผิดชอบ
ข้อมูลและบทความไม่ได้มีวัตถุประสงค์เพื่อก่อให้เกิดกิจกรรมทางการเงิน, การลงทุน, การซื้อขาย, ข้อเสนอแนะ หรือคำแนะนำประเภทอื่น ๆ ที่ให้หรือรับรองโดย TradingView อ่านเพิ่มเติมที่ ข้อกำหนดการใช้งาน