Gold XAUUSD Daily Market Analysis - Sep 25, 2024 by Kohinoor Free VIP Gold Forex and Crypto Trading

Kohinoor Free VIP Trading Signals

Sep 25, 20243 min read

Updated: Oct 7, 2024

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Intraday Trading Signals for Gold (XAUUSD)

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As of today, Gold is trading at $2660 USD. Based on the current price, here are two intraday signals for XAUUSD traders:

Buy Signal: Buy above $2670 with a target of $2685, stop loss at $2655.
- Confirmation through RSI divergence and bullish engulfing pattern on the 15-minute chart.
Sell Signal: Sell below $2650 with a target of $2630, stop loss at $2665.
- Indications from Fibonacci retracement level of 61.8%, confirming a bearish reversal.

Technical Analysis of Gold (XAUUSD) Using Fibonacci, EMA, RSI Divergence, Weekly Pivots, and SMC Concepts

Today’s market analysis of Gold (XAUUSD) reflects a mix of bullish and bearish trends. The price action around $2660 is influenced by key technical factors, offering excellent opportunities for intraday traders. Here's an expert breakdown:

1.Fibonacci Retracement:

At present, Gold is retracing from the 61.8% Fibonacci level at $2670, suggesting potential short-term resistance at this point. If the price breaks above this level, we might see a further upward rally towards $2685-$2700. Conversely, failure to breach this resistance could trigger a pullback to the 50% Fib level at $2650, providing potential short-sell opportunity.

2.EMA Levels:

Gold is currently trading near the 100 EMA on the daily timeframe, which sits at $2655, acting as immediate support. The 200 EMA is observed at $2630, and the 400 EMA lies at $2600. These levels represent significant zones for potential market reversal or continuation, and traders should monitor these levels closely for price action signals.On a 4-hour chart, Gold is hovering slightly above the 100 EMA at $2660, suggesting consolidation before the next big move.

3.RSI Divergence:

On the hourly timeframe, the RSI indicator shows a bullish divergence, which hints at a possible breakout above $2670. However, if the divergence weakens, sellers might regain control, pushing the price back to the 2650-2630 support zone.

Weekly Pivots:

The weekly pivot for Gold is marked at $2655, aligning with our EMA and Fibonacci analysis. This suggests that $2655 is a key psychological level to watch today. The weekly support levels are identified at $2630 and $2600, while resistance is at $2685 and $2700.

Support and Resistance Levels:
- Support: Immediate support is noted at $2655 (100 EMA and pivot) and $2630 (200 EMA). A break below these levels could trigger a sharp decline toward $2600.
- Resistance: Strong resistance is at $2670 (Fib 61.8% and resistance from past sessions), followed by $2685-$2700, which might act as a profit-taking zone for bulls.
Smart Money Concepts (SMC):As per SMC concepts, Gold’s price shows signs of institutional accumulation near the $2650-$2660 range, which may lead to a potential breakout if enough liquidity builds up. The price compression around these levels indicates a possible surge in volatility in either direction, so traders must be prepared for quick moves.

Key Levels for Gold (XAUUSD)

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Daily Timeframe:

Support Levels: $2655, $2630, $2600
Resistance Levels: $2670, $2685, $2700
100/200/400 EMA: $2655 / $2630 / $2600

4-Hour Timeframe:

Support Levels: $2655, $2640
Resistance Levels: $2670, $2685

FAQs about Trading Signals

What are the best Gold trading signals for intraday traders in Dubai?For traders in Dubai, the best signals involve using a combination of Fibonacci levels and EMA crossovers for precision trading.
Which Gold trading signal provider is best for beginners in Singapore?Beginners in Singapore should look for signal providers offering free daily analysis and educational resources to help them understand technical indicators like RSI and EMAs.
How do I use Fibonacci retracement levels in Gold trading for consistent profits?Traders can use Fibonacci retracement levels to identify potential support and resistance levels, enhancing decision-making for both entry and exit points in Gold trading.
What are the most accurate Gold Forex signals for Indian traders?Indian traders should focus on signals that integrate weekly pivots and RSI divergence for improved accuracy in identifying market reversals.
Can I use trading signals to trade cryptocurrencies and Gold simultaneously?Yes, signals for Gold and cryptocurrencies can often be used in tandem, as many of the same technical indicators apply to both markets, offering opportunities for diversification.