Reason For Bullish
RSI Above 40 and tends to be begin the bullish
Stochastic 5,3, 3 Oversold and make the movement higher
Approaching support @ 1930
Aseet ready to touch yesterday high of 1842.50 again
Reason For XAUUSD Fall
1. Breaked Out 1930 and ready to retest 1945
2. Stochastic and rsi indicates Bullish momentum
1. If DXY break 101 and fall then gold will retest 1945 and later 1960
2. If take support here then gold may fall upyo 1899
Overall XAUUSD SELL LIMIT 1945
XAUUSD Overall Outcome
GOLD SELL 1744.20
ReASON For SELL
1. RSI 14 @ 50 and tends to be bearish
2. Stochastic indicator is over bought and tends to be bearish ans retest the yesterday Low of 1731
Reason for XAUUSD 1H Bullish
1. Stochastic Oversold in 1H Time frame and tends to Bullish
2. RSI 14 ISabove 50 and Bull trend in 1H
3. Clearly Obey Fibonacci retracement of 1669 whicj is golden ration
4. Retest the yesterday Low and make a Bullish
GOLD BUY 1672.80
GOLD BUY LIMIT 1620-25
Reaon For XAUUSD GOLD BUY
1. Retest Yearly Low and rebound the major Resistance
2. Fibonacci Indicates teg Bullish
3. RSI over sold an tends to be bullish
XAUUSD BUY PROJECTION
Technical and fundamental Reason for the XAUUSD LONG
1. Last week friday 1d candle closed above the support region of 1710 and denotes the bullish monemtum
2. single candle confirmation indicates bullish as it formed teh Inverted Bullish hammer (Bullish move continued)
3. Formed teh Triangle flag patterna and push higher
One day candle shows a clear consolidation.
There is a major support and resistance.
Support at 1916.006 and Resistance at 1938.818.
The Blue and Red arrows indicates the number of rejections as support and resistance respectively.
If the price breaks the support levels then the price will fall to a target at it next support level 1907.043 and further down to...
When the channel gives breakout above we can expect 1817.
this is just for educational purpose ,this is solely the opinions from me and does not come from a licensed professional.
this analysis is not for financial advice.