ForecastCity_ME

💡GOLD (XAUUSD) - Weekly Technical Analysis Update

Long
FX:XAUUSD   Gold Spot / U.S. Dollar
Midterm forecast:

1762.55 is a major support, while this level is not broken, the Midterm wave will be uptrend.
We will close our open trades, if the Midterm level 1762.55 is broken.

Technical analysis:

A trough is formed in daily chart at 1756.05 on 04/29/2021, so more gains to resistance(s) 1959.30, 2000.00, 2075.05 and more heights 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 76.

Take Profits:

1762.55
1828.25
1875.15
1959.30
2075.05


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