💡GOLD (XAUUSD) - Weekly Technical Analysis Update
Midterm forecast:
While the price is above the support of 1744.50, resumption of uptrend is expected.
We make sure when the resistance at 1916.50 breaks.
If the support at 1744.50 is broken, the short-term forecast -resumption of uptrend- will be invalid.
We will close our open trades , if the Midterm level 1744.50 is broken.
Technical analysis:
A peak is formed in daily chart at 1832.65 on 07/29/2021, so more losses to support(s) 1762.55 and minimum to Major Support (1744.50) is expected.
Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
Relative strength index ( RSI ) is 32.
Take Profits:
1762.55
1828.25
1875.15
1959.30
2075. 05
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While the price is above the support of 1744.50, resumption of uptrend is expected.
We make sure when the resistance at 1916.50 breaks.
If the support at 1744.50 is broken, the short-term forecast -resumption of uptrend- will be invalid.
We will close our open trades , if the Midterm level 1744.50 is broken.
Technical analysis:
A peak is formed in daily chart at 1832.65 on 07/29/2021, so more losses to support(s) 1762.55 and minimum to Major Support (1744.50) is expected.
Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
Relative strength index ( RSI ) is 32.
Take Profits:
1762.55
1828.25
1875.15
1959.30
2075. 05
❤️ If you find this helpful and want more FREE forecasts in TradingView
. . . . . Please show your support back,
. . . . . . . . Hit the 👍 LIKE button,
. . . . . . . . . . Drop some feedback below in the comment!
❤️ Your support is very much 🙏 appreciated!❤️
💎 Want us to help you become a better Forex / Crypto trader?
Now, It's your turn!
Be sure to leave a comment; let us know how you see this opportunity and forecast.
Trade well, ❤️
ForecastCity English Support Team ❤️
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