XAUUSD 6 - 10 May 2024
Updated
Dear friends,
On the daily chart gold closed with a doji candle and this could be a sign that on Monday we see a following red candle. We see that gold is getting a lot of support between 2290 and 2280.If the price closes below these levels we can look for prices around 2264/2254 and maybe even 2240 and after that 2220 but 2264 look more achievable for this week and maybe even 2254.
I personally think this week will be bearish and in this case we will be active from 2296 but the best zone to sell will be after 2284. The critical levels are 2284 - 2271 - 2264 - 2250 and 2238.
In a bullish case we will be active from 2306 (high risk) the best zone to buy is above 2310. The critical levels are 2310 - 2318 - 2320 - 2326 - 2336/38 - 2350/52 - 2371 and 2384.
I will keep you all updated with regular updates throughout the week. Don't forget to like, comment and follow to support me, i really appreciate it!
I wish you a good week, trade with a stop loss and I hope you all get rich!
On the daily chart gold closed with a doji candle and this could be a sign that on Monday we see a following red candle. We see that gold is getting a lot of support between 2290 and 2280.If the price closes below these levels we can look for prices around 2264/2254 and maybe even 2240 and after that 2220 but 2264 look more achievable for this week and maybe even 2254.
I personally think this week will be bearish and in this case we will be active from 2296 but the best zone to sell will be after 2284. The critical levels are 2284 - 2271 - 2264 - 2250 and 2238.
In a bullish case we will be active from 2306 (high risk) the best zone to buy is above 2310. The critical levels are 2310 - 2318 - 2320 - 2326 - 2336/38 - 2350/52 - 2371 and 2384.
I will keep you all updated with regular updates throughout the week. Don't forget to like, comment and follow to support me, i really appreciate it!
I wish you a good week, trade with a stop loss and I hope you all get rich!
Trade active
Gold indeed opened with a red candle but hit a good support zone around 2296 zone and you can see in the charts it's going up again and trying to stay above the 2310 zone. As mentioned before we had a riskier buy at 2306 so we are in profit right now and placed our stop loss to 2309 to secure our profits. Let's see if gold continues to move upward. If Gold stays above 2326/28 zone only then we can say gold is bullish and after breaking this zone more bull will come back.
Trade active
We got sells from 2324/2320 zoneNote
Today wel made some good profits, curious about our group? The link is in the comments you are welcome to join us.Note
Minneapolis Fed President Neel Kashkari's recent suggestion that the Fed may halt changes to interest rates and possibly increase the federal funds rate if inflation doesn't decline has strengthened the Dollar. This week's economic agenda includes more commentary from Fed officials, Initial Jobless Claims for the week ending May 4, and the University of Michigan Consumer Sentiment's preliminary report.Gold prices decreased when there was not much important economic data this week. Mainly sideways and back to test entry BUY 2290
Gold price moved back to the 2320 zone, continuing sideways.
Note
We can see a bounce back from 2320 zone. This is an important zone if Gold breaks 2320 we can expect a rise towards 2330 zone and possibly 2340 after 2340 we can say gold is bullish and we expect gold to rise more but this is only when gold breaks the 2340 zones.The bearish scenario will be active when Gold breaks the 2308/06 zones.
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