OANDA:XAUUSD The 14-day relative strength index (RSI) heads north above the midline while the sloping 21 DMA is set to cross the 50 DMA to the upside, suggesting Bull Cross.
Technical indicators still favor Gold buyers in the near term.
On the downside, immediate support awaits at the intraday low of $1970, below which the 100 DMA of $1966 will come into play....
on Daily TF double top was formed but the red line is not yet broken. now it seems to be forming double bottom. One can hedge here and wait to break on the either side. Safes can enter on the breakout and retest.
gold is getting strong from intraday perspective, not only gold but GBPUSD (since they have co-relation). i think its will be a nice trade since they both are also forming ascending channel.
NOTE : only for education purpose.
ALL THE BEST!
FOREX GOLD XAUUSD LONG and SHORT support and resistance 20-08-2022
FOREX LEVELS TODAY
TODAY GOLD LEVELS
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Fundamental remains almost same for the gold during past 20 hours. As we can observe from the movement of gold that it is trading in the range of $1896-$1907. ECB president Lagarde speech is due for today.
Meanwhile, Russia halted gas supplies to Poland and Bulgaria until payment are made in Rubles. Headlines from Russia provided some...
We have seen bearish reversal for the gold (XAU/USD) during past few trading sessions. Gold is now vulnerable to rising Covid-19 cases in China and hawkish stance from federal reserve. As of writing, it is trading slightly above 1900 marks. It is still to be seen how it performs during the last few sessions of the month.
The war in...
Gold is about to make upmove, follow the analysis to know how!
Things to consider:
1. Last day gold printed bearish impulse, today its making higher highs
2. Upward momentum building
3. After an impulse a retracement is seen
How to enter:
1. Follow the analysis
2. Entry on 1hr tf
3. Enter when MACD crosses 0
4. Enter when 10 ema crosses 20
5. TP & SL in the...
Market is Ranging between 1824.095 and 1803.585
There is a Buying Opportunity above 1825.227
And a Selling Opportunity below 1802.444
Wait unlit it breaks these levels or 30min candle closes above this levels.
For impulse entry trade at London or NY Timing,
When 30min candle cross these levels switch to 1min or 5min time frame for best...