ForecastCity_ME

GOLD Weekly Technical Analysis Update

FX:XAUUSD   Gold Spot / U.S. Dollar
Midterm forecast:
1939.45 is a major support, while this level is not broken, the Midterm wave will be uptrend.

Technical analysis:
While the RSI uptrend #1 is not broken, bullish wave in price would continue.
A peak is formed in daily chart at 1818.00 on 07/07/2020, so more losses to support(s) 2000.00, 1970.20 and minimum to Major Support (1939.45) is expected.
Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
Relative strength index ( RSI ) is 79.

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Comments

very helpful
+1 Reply
ForecastCity_ME Josef_anderson
@Josef_anderson, Thank you! We appreciate your comment.🙏
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Fantastic graph
+1 Reply
@Kamryn, It's our pleasure!
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can’t thank you enough.
+1 Reply
@Sir_Ray, Thank you! We appreciate your comment.🙏
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Thanks
+1 Reply
@Kristalyn, It's our pleasure!
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