As we can see, the price bounced off the resistance level of $ 1840 and is now falling. Most likely, the price will drop to the level of $ 1800, and from there it will rise again. For those wishing to buy XAUUSD, wait for the price to reverse and then buy.
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". There is a possibility of temporary retracement to suggested support line (1798.04).
. if so, traders can set orders based on Price Action and expect to reach short-term targets."
. XAUUSD is in an uptrend and the continuation of uptrend is expected.
. The price is above the 21-Day WEMA which acts as a dynamic...
While the price is above the support 1744.50, resumption of uptrend is expected.
We make sure when the resistance at 1797.55 breaks.
If the support at 1744.50 is broken, the short-term forecast -resumption of uptrend- will be invalid.
We will close our open trades, if the Midterm level 1744.50 is broken.
There is a...
. There is a possibility of temporary retracement to suggested support line (1799.4). if so, traders can set orders based on Price Action and expect to reach short-term targets.
. Gold (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...
Okay, so last week we have made a gold analysis telling all the reasons that why should gold move high from the 1770 region. BTW I will attach that analysis in the end ;)
So, what now???
In this region, we have the upper part of the bullish flag of gold. As you can see in the chart. However, NFP data was a great miss this week that pumped up gold a lot...
Gold in Technical has been respecting trendline and resistance on weekly.
We should see a surge upwards if it sees a losing above the rectangle zone/trendline.
Gold is yet 20% from the ATH.
Global economics should give an early sign for gold price to go up
Disclaimer - Just my View and not an advice
Inflation fears are real. With all the fiscal and monetary stimulus provided by the governments and central banks around the world creating money out of paper, keeping the interest rates low providing ample liquidity and devaluing their currency. Dollar is already in a long term bear market. All this point in one the direction that inflation is...
For the past two trading weeks gold was trading within confined range and unable to break on either side 1795,1760 was acting as strong barrier.Kindly watch the break out/down for potential buy/sell Upper side target would be 1815 and on downside immediate target would be 1750.
Gold has recently retested the 1756 lows and made a weekly Doji candle showing signs of further bullish nature. However, the price action we are looking at the daily chart is bullish.
After an impulse, we want to see a correction and we have seen that gold has corrected to the 1750-1755 region which is a good buying region as we have daily support(strong...