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Goldforecast

What 1 hr chart says ?Fundamental Descriptions: Gold was down on Wednesday morning , with inflation's uncertain path giving the yellow metal a uncertainity. The buying momentum around Gold Price extended on Tuesday, as bulls cinched fresh two-week highs at $1870. The US dollar tumbled alongside the yields, extending its downward correction despite a cautious market mood, led by a tech sell-off on the global markets. Weak US Manufacturing PMI for May also added to the dollar’s misery, benefiting XAUUSD. Technical View: In doing so, the bright metal gained for the fifth straight trading day, continuing its recovery from four-month troughs of $1787. After the relentless surge, gold bulls could see a minor pullback from two-week highs, with the immediate support of the 21-DMA likely to be tested. Alternate View: A break below the last could expose the next downside target of $1,850, below which the mildly bullish 200-DMA at $1,839 will challenge the bullish traders.
FOREXCOM:XAUUSD
by RASteven
What 1 hr chart says ?Fundamental Descriptions: Gold was up on Tuesday morning in Asia. The dollar was up, stabilizing after its fall during the previous session that helped boost the yellow metal to its highest point in two weeks. The bright metal took advantage of the dollar sell-off and built on the previous week’s recovery rally from four-month lows of $1787. However, the risk-on flows-driven rebound in the Wall Street indices, as well as, the US Treasury yields recalled gold sellers, which dragged the rates from multi-day highs. Technical View: The near-term technical outlook for the metal remains more or less the same. Gold bulls are challenging the 21-Daily Moving Average (DMA) hurdle at $1,857, having failed to hold ground above the latter. Daily closing above the latter is needed to confirm a bullish reversal, exposing the additional upside towards the mildly bullish 100-DMA at $1,885. Ahead of that the $1,870 round figure could challenge the bearish commitments. The 14-day Relative Strength Index (RSI) is testing the midline, currently standing at 46.25, justifying the bullish bias in the price. Alternate view: The immediate support is seen at the $1,850 psychological level. Sellers will then look out for the horizontal flattish 200-DMA at $1,839.
FOREXCOM:XAUUSD
by RASteven
What 1 hr chart says ?Fundamental Descriptions: Gold was up on Tuesday morning in Asia, even as the dollar slowly resumed an upward trend. A sustained move under 1830 will signal the return of sellers. If this creates enough downside momentum then look for a retest of the intraday low at 1785, followed by 1783.80 mark. Technical View: Attempted recovery move stalled just ahead of the 1830 level. This is closely followed by the very important 200-day SMA, around the 1836 region, which should act as a pivotal point for short-term traders. Sustained strength beyond might trigger a fresh bout of a short-covering move and lift spot prices back towards the 1859-1860 supply zone. Alternate Scenario: The 1811-1808 region now seems to protect the immediate downside ahead of the 1800 round-figure mark and the overnight swing low, around the 1786 area.
FOREXCOM:XAUUSD
by RASteven
What 1 hr chart says ?Fundamental Descriptions: Gold was down on Thursday morning. Investors are digesting the U.S. consumer price index (CPI), which suggested inflation remains high but has peaked in April, easing some concerns about more aggressive interest rate hikes from the Federal Reserve. Looking ahead, Gold Price will continue to remain at the mercy of the US dollar price action and broader risk tone, as the Fed expectations and growth concerns keep leading the way. Technical view: Gold Price tested offers below the critical 200-Daily Moving Average (DMA) at $1,836 on Wednesday, although bulls defended the latter allowing an impressive recovery. The renewed upside in XAU/USD seems to be fading this Thursday, as the price is looking to surrender the previous week’s low and the psychological level at $1,850. Alternate Scenario: Acceptance above Tuesday’s high of $1,865 is needed for Gold bulls to cement a meaningful recovery towards $1,884. Further, the $1,900 mark will challenge the bearish commitments.
FOREXCOM:XAUUSD
by RASteven
Gold's Golden Rule Of 89% (Pack Your Bags For Big Ride)Gold's Golden Rule Of 89% Golden history of last 50 years have shown that Gold has give big move whenever there is a minimum 89% move from bottom. Chart is self explanatory. There are three successful incident of min 89% move and two unsuccessful incident of less than 89% move. Successful Incidents 1. 1970 - 1972 2. 1976 - 1978 3. 1999 - 2005 Unsuccessful Incidents 1. 1982 - 1983 2. 1985 - 1987 Fourth move in the making from 2015 - till date. So Gold is getting ready to fly again. Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
FX_IDC:XAUUSDEducation
by MandeepSinghKohli
18
Gold at 2600?From 1150 level back in August 2018, Gold rallied up to 2075 highs in August 2020. After that peak it corrected to 1860 in March 2021. 1860 became the short term bottom for the price as price found support there twice in March. Later in August and September price found support twice in the 1730 zone as marked on the chart. The bullish flag pattern would remain valid if the depth of the flag retracement holds above the 50% level, above 1600. It seems that price has closed above the down trending line on the weekly chart. _______________________________________________________________________________________________________________________________ Price action in the daily timeframe could again pullback in the flag area and consolidate further before moving ahead and breaking out. This is not a short term trading but an investment idea, the target projected from the mid of the flag would be close to 2600 and should be achieved within 2 years from the point of a successful breakout. One could accumulate slowly at current levels. _______________________________________________________________________________________________________________________________ Like and follow for more. :)
TVC:GOLDLong
by Tradeception_
#Gold ( Good time to invest in Gold ) #Gold is showing same pattern as observed in 2005 ready for breakout for the target of $4000-4500-5000 in 4-6Year . It's a good time to invest in gold . Gold is expected to form its base above $1730 in july 2021 as its has also formed base in july 2005 so same is expected to happen this time also according to pattern on the chart . Gold should not give monthly or bi-weekly closing below $1730 because this will violate the pattern running rn on the chart . I goes below $1730 then gold may be dead heavy bloodbath can be seen tho this is not expected in the gold market till big event . Keep $1730 as a important level and buy for heavy profits in coming future !
GLong
by palkeshjain06
GOLD ranging...and UP AGAINAs I said last weeks since March 21..after 4 months in which all my analyzes about GOLD were almost perfect, GOLD arrived in the 1920 area as I predicted 4 months ago ... it rejected until the 1970 area as can be seen from my analysis last week and the climb to 1920 started again! If he rejects again from that area ... I think there will be a massive descent on the GOLD until the area 1830 or even 1774 THIS WEEEK...even though I had many objections and many messages of disapproval ... as I said GOLD went down even below the 1774 area and now it is at the Fibonacci level 0.5 from where I expect it to reject and rise again towards 1836 and from there DOWN AGAIN to level 618! however ... a closure even for 1 day below 1754 will make me think of SELL until 1688! NOTE: Please, give a LIKE if you find this idea useful! GREAT ATTENTION: *This information is not a Financial Advice.
FOREXCOM:XAUUSD
by BloomFX_SIGNALS
4
GOLD Medium term ViewAs anticipated previously Spot gold failed to break is major resistance around 1750 -1760 and fallen sharply from there. Gold prices are now likely to test 9th March 2021 Lowes which is $1676 On the daily chart currently gold prices are trading in a downward sloping channel. If 1676 dollar is breached a test of the test of channel lower level is possible approx $1649 Also this week closing will be imp as we are trading close to 61.8 fibonacci retracement level of $1688
TVC:GOLDShort
by rahulgupta1509