Gold (XAUUSD) day chart analysis - Symmetric Triangle
Triangle pattern observed in Gold. Pattern looks to be valid and the target comes at 1477. 1438 and 1382 are the trend defining levels and so conservatively, longs can be initiate beyond 1438. (Disclaimer: Our charts and contents are just for the purpose of analysis, learning and general discussion. Do not consider these as trading tips or investment ideas....
Descending triangle pattern spotted in Gold,suggesting bearish bias. Though the base of the pattern falls on 1403, immediately below is round number 1400. Hence it is advised to initiate short only if price closes below 1400 with stop above the falling trendline and target at 1380. Manage to book some profit at 1388 if price traverse through our predicted...
Gold finally paused after the stellar rally as it moved in a range of $55 cradled between the support and the resistance posting a negative return of $10 after 6 weeks. The fall was on account of better than expected payroll data which reduced the likelihood of a rate cut in the next Fed meet allowing the dollar index to move higher. But even amongst such...
SPOT GOLD TRADE IN SELL ZONE, BUY ONLY TRADE ABOVE 1400 FOR THE TARGET 1408 AND 1416 ELSE SELL ON EVERY RISE FOR THE TARGET 1385 AND 1378
Gold continued its rally as it rose more than $40 in the week but ended with modest gains of $11. This surge from lows was broadly on account of an accommodative Fed which became the reason for the fall as Fed’s Chair Powell signaled not so brisk path to rate cuts in his speech last week. The G20 summit and the most important Trump – Xi meet resulted in lowering...
Gold closed at a six year high after gaining more than $57 in a monumental week which spanned nearly $80 in terms of range making it the biggest week since November 2016. Gold not only crossed $1400, it broke through multiple technical patterns which makes it supremely bullish. Fundamentally this breakout happened due to geopolitical concerns arising from U.S –...
Trading suggestion: . There is a possibility of temporary retracement to suggested support line (1357.42). if so, traders can set orders based on Price Action and expect to reach short-term targets. Technical analysis: . Gold is in a range bound and the beginning of uptrend is expected. . The price is above the 21-Day WEMA which acts as a dynamic support....
Gold consolidated after huge gains in yet another another big week with range of over $38 with actual movement of less than a dollar. Such a move created an indecisive candlestick or a spinning top which is par on course as next week contains very important event of – “Fed’s interest rate decision” which will shape the future path of gold. The fundamentals remain...
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 posted massive gains of $35 in the week which was having a range of $43 making it the biggest week of 2019 and the highest weekly gain in last 3 years. Gold zoomed towards the highs in the fear fueled rally assisted by a near certainty of a rate cut by the Fed later this month due to appalling data which signaled intensive slowdown. The resistances were taken...
Trading suggestion: . There is a possibility of temporary retracement to suggested support line (1310.50). if so, traders can set orders based on Price Action and expect to reach short-term targets. Technical analysis: . XAUUSD is in a range bound and the beginning of uptrend is expected. . The price is above the 21-Day WEMA which acts as a dynamic...