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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Comments

I appreciate your analysis.
+1 Reply
ForecastCity_ME Mesutkashmar
@Mesutkashmar, It's a pleasure
Reply
Good analysis as always! Simple, clear, and detailed. Thanks!
+1 Reply
ForecastCity_ME yusufipek1989
@yusufipek1989, Thank you
Reply
Love this analysis. Your charts are always nicely done.
+1 Reply
ForecastCity_ME DenizKilicDeniz
@DenizKilicDeniz, Thank you we appreciate your comment
Reply
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