Hope you all trading well in the unstoppable bulls in XAUUSD,
As the trade quote say, 'Go with the trend' this week also looks like bullish trend continues, more than technical this pair operates strongly with fundamentals, A weaker USD moves the Gold higher and higher, Dollar index also expected with some support, hope it respects,
as we can see the gold is totally overbought right now,
as the stock market crash gold will also crash with it in a short term into 1300 usd
and then the next bull run will start that will lead 3200 top
as per my research.
its a nice idea to have some gold in your portfolio in this pandemic
Wish you for more profit in the coming week, Last week the Gold against dollar pair price went up and came down as predicted.. it touches the yearly high of 1790 and retraced 1758 - 1760 area twice in a week, I stick with the my Rising wedge analysis given last week, it can be a long term signal too .. may gold go down to 1700 area..
This week this...
Weekly chart - Strong buying pressure
Daily chart - Potential double short
Hourly chart - pushing back to tesst top resistance once more
If it rejects this top level again we are in a good way for Double top setup
We will have to wait and see how price reacts to the 143 price level, If you want you can play agressive with a shot pending order on the 143 level...
Its been a long bullish run for Gold against Dollar, set up clearly signals for bears to take control for this pair. Right from 1715 its ready to go down till 1660 as of now, Today USD news like Unemployment claims , Flash services PMI will reflects on this pair..
Gold has given been in bear's grip since Wednesday (25-09-19), it formed a Doji on daily chart yesterday (26-09-19) and resumed the fall today.
It has come out of a medium term channel on 25th, 1483-89 is the range it managed to form a bottom from when it corrected a few days back.
It may break this support this time, 1440-1460 is the next target on the down...
The shiny metal went past the 1355 level on friday and on the same day reverted back to end the day on a negative note, which indicated that the buyers ran out of steam. Today, the prices breached the immediate intra - day support of 1337.88, which further supports the bears. Moreover, on daily basis, the prices are showing divergence with the RSI indicators,...
Gold is in big bear market and i am giving you an idea and a prediction of what could happen next.
exit condition = breaking ema 21 or 1330+ area and just wait for an update. Big bear has not been played out yet
we are adding position size to our existing net short portfolio and at the time of writing this ariticle/idea our full short position in gold and silver is well justified from the measurement of risk and reward,
The usd index end up moving higher yesterday and the price of gold fell a little bit,this should be seen as sign of strength but mining stocks are...