The rally from December 2015 lows is a part of corrective structure. The overall structure could pan out in regular flat till the time this rise remains below $1920 which would eventually convert to irregular flat on a cross above $1920. I have marked some projection levels where the prices could end this up move. So we may be in the last leg of the rally in...
XAUUSD pair last week finished with higher price of 1747 from 1692 , Gold demand has been increasing because of pandemic from March onwards and it still continues, last week momentum clearly shows the pair's urgency to cross 1800 mark and its is in the sight. But this week it may stops by the strong resistance area @ 1750 and it may keeps the gold down for some...
Gold is looking much stronger after breakout of a long term bullish channel. It is trading at a 10 year high, and fundamentals support further upside. Buy the dips, with a stoploss of 1660 for positional longs and 1696 for intra-day longs. Try to keep big targets 1840-1920, follow trailing stop loss system once it is above your buy level. As you know, we...
Price near 600 EMA, which proved to be a solid resistance last week. The decline from 1740 to 1680 merely served as a correction and based on the following fundamental facts, I expect a rally in XAU/USD parity: 1- Majority of the jobless claims in April were transferred to May in order to reduce the impact of the initial shockwave 2- Highest number of jobless...
Okay, so gold has been confined in the triangle for almost 1 month. It constantly made lower highs and higher lows!!! And 1670-1685 region holds some strong support as price tested this region so many times but always made recovery from there. Also, 1610-1615 region is tested too many times also. It is clear that if this triangle breaks above then first...
The 4 hour right side is up against 8/16/2018 low (1159). 1 hour is turning down against 1739 high. Near-term, while bounces fail below 1739 high expect Gold to extend lower to correct the cycle from 8/16/2018 low in 3, 7 or 11 swings before upside resume. SHORT GOLD @1700-1704 TP: 1680 SL: 1715 GOOD LUCK !
The triangle pattern is broken in gold and we are now looking towards 1740 target. It's a great buy opportunity. We have been waiting for this triangle to break this whole time. It happened today. :) After 1740 immediate resistance will be provided at 1760.
Price @ 1654 is the area of Confluence may be the reversal point.. let the day will answer.. if it reverse at the point of 1654.. sure it will go up at the end day of the week..
The 4 hour right side is up against 8/16/2018 low (1159). 1 hour is turning down against 1739 high. Near-term, while bounces fail below 1739 high expect Gold to extend lower to correct the cycle from 8/16/2018 low in 3, 7 or 11 swings before upside resume. SHORT TERM SELL
Gold against dollar recovered from the lows month of April. The Journey towards 1800 is on . and the chances looks bright in this month of May. In the monthly chart ,it breaks the long term resistance of 1675 and spikes up.. but this week it expected to do small retest on 1657 and go higher..
Okay, so, last week we have seen a beautiful rebound from 1671 levels which will be acting as strong support. On the other hand, gains are still capped till 1740 as this level is tested approximately 4 times in the daily chart. So, it is clearly showing strong resistance at 1740. If this level breaks, bulls will face immediate resistance at 1667, but it may get...
As we can see that at the beginning of this week XAUUSD was going down but it clearly got a strong support at 1700 level and we are getting this short triangle nearly ending and its showing upward potential, and if this happens as we thought then after breaking and stabilizing above 1740 levels will give a bull run towards 1800 levels. So, it's a great buying...
After Friday's doji prices are falling but got a good support at 1705. Prices may take a downway to 1678 approx. which holds a strong support, if broke this then we may be seeing 1640 levels or may be all the way back to 1600 AGAIN!!!! but this have low chances due to the bullish pattern. So, 1670-1680 will be a good place to buy gold again with a target of...
Midterm forecast: While the price is above the support 1660.25, resumption of uptrend is expected. We make sure when the resistance at 1747.50 breaks. If the support at 1660.25 is broken, the short-term forecast -resumption of uptrend- will be invalid. We will close our open trades, if the Midterm level 1660.25 is broken. Technical analysis: A trough is formed...
XAUUSD IS LOOKING LIKE STRONG BULLISH AND IT BREAKED RESISTANCE LEVEL.. ITS MY EXPECTED CHART.