FOREX GOLD XAUUSD SUPPORT AND RESISTANCE LEVELS || 27/07/2022FOREX GOLD XAUUSD SUPPORT AND RESISTANCE LEVELS || 27/07/2022
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Xauusdanalysis
XAUUSD GOLD SUPPORT AND RESISTANCE LEVELS 25-07-2022FOREX GOLD XAUUSD SUPPORT AND RESISTANCE LEVELS || 25/07/2022
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warning: Note! The Analysis video shared here are for educational/informational purposes only.
XAUUSD ANALYSIS OVER H4 CHART.Gold Price Forecast: XAUUSD eyes $1,750 on the road to recovery
Gold price is reversing an early dip but remains cautious at the start of the critical Fed week. The rebound in the US dollar from over two-week lows capped the bullion’s ongoing recovery momentum. The greenback climbed on the back of renewed risk-off flows, triggered by a revival of recession fears, as the Fed remains on track to hike rates by 75 bps to control inflation. Investors remain worried over a potential negative US GDP print in the second quarter, which would tip the world’s largest economy into a technical recession.
The bright metal extended its recovery from 11-month lows and hit fresh weekly highs at $1,739 on Friday, tracking the slump in the US Treasury yields, as growth and inflation worries sapped investors’ confidence and boosted the safe-haven flows into the government bonds.
Above 100 SMA, bulls will aim for the horizontal targets aligned at $1,745 and $1,752.
After spotting a symmetrical triangle breakdown on the four-hour chart on Wednesday, gold price extended the downside and hit the pattern target measured at $1,781.
On the flip side, if bears take out strong support around $1,713, the confluence zone of the 21 and 50 SMAs, then a drop towards the $1,700 mark cannot be ruled out.
The multi-month troughs of 1,681 will be back on XAU sellers’ radars.
FOREX GOLD XAUUSD TODAY LEVELS || 15/07/2022FOREX GOLD XAUUSD TODAY LEVELS || 15/07/2022
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Mercury Technicals is not an investment advisory service, or a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities customers should buy or sell for themselves.
warning: Note! The Analysis video shared here are for educational/informational purposes only.
Gold spot Fractal pattern Gold XAUUSD has seen a similar pattern ( Fractal represented by BOX on the price chart) formed between August'2011 to September'2012. A similar pattern has currently unfolded and we are at the cusp of the breakdown of the consolidation range, while range breakdown will mean flinty times for gold bulls as gold remained in cyclical correction for around 1000 days post break down of the trading range to bottom out in 2015. Further, this month's close below USD 1700 levels will ensure swing failure on RSI (14 Pd).
FOREX GOLD XAUUSD TODAYS LEVELS || 13/07/2022FOREX GOLD XAUUSD TODAY LEVELS || 13/07/2022
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#forex #gold #xauusd #xauusdsignals #technicalanalysis
Mercury Technicals is not an investment advisory service, or a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities customers should buy or sell for themselves.
warning: Note! The Analysis video shared here are for educational/informational purposes only.
XAUUSD ANALYSIS OVER H1 CHART.Short-term Elliott Wave view in Gold (XAUUSD) suggests the decline from the 6/17/2022 high is unfolding as a 5 waves impulse Elliott Wave structure to complete a wave 3 of higher degree. Down from 6/16/2022 high, wave ((i)) ended at 1783.55 and rally in wave ((ii)) ended at 1814.47. Internal subdivision of wave ((ii)) unfolded as a double correction Elliott Wave structure. Wave (w) of this double correction ended at 1808.8. Pullback in wave (x) ended at 1797.22, and final 3 swings as wave (y) ended at 1814.47 which also completed wave ((ii)).
The 30 minutes chart below shows wave ((iii)) decline starting from wave ((ii)). Wave ((iii)) lower has completed with subdivision as an impulse in lesser degree. Down from wave ((ii)), wave (i) ended at 1802.97 and rally in wave (ii) ended at 1812.06. Gold extended lower in wave (iii) towards 1762.48, and rally in wave (iv) ended at 1772.77. Final leg lower wave (v) finished at 1731.47 and wave ((iii)) was completed. Wave ((iv)) pullback did flat correction ending at 1752.32. Last drop in 5 swings ended wave ((v)) at 1722.25 which also completed wave 3. The metal should do a corrective rally in wave 4 before the decline resumes. Expect wave 4 rally to fail in 3, 7, or 11 swing for further downside.
XAUUSD; DAILY DISTRIBUTIONWill be waiting for redistribution in LTF at POI as a confirmation for sell, until and unless market doesn't break UTAD, XU gonna drop. Seasonal'S say gold goes up in august, which is strong possibility; but I can’t tell if they're going below may'S low, 1786, then shoot up or just stay sideways then shoot up. Overall it's near to critical zones for decision bullish or bearish.
XAUUSD ANALYSIS OVER H1 CHART.Technical outlook
From a technical perspective, the recent price action constitutes the formation of a rectangle – a continuation pattern - on hourly charts. Sustained weakness below the trading range support, around the $1,733 region, will reaffirm the near-term bearish outlook and make gold price vulnerable. The downward trajectory could then drag the XAUUSD towards the next relevant support near the $1,721 area, en-route the $1,700 round figure and August 2020 low, around the $1,687-$1.686 region.
On the flip side, Friday’s peak, near the $1,752 zone, now seems to act as immediate strong resistance. Sustained strength beyond might trigger a short-covering move and lift gold price further towards the $1,767-$1,770 strong horizontal support breakpoint. Some follow-through buying would suggest that the XAUUSD has formed a near-term base and allow bulls to aim back to reclaim the $1,800 mark.
XAUUSD ANALYSIS OVER H4 CHART.Gold Price is giving back the early recovery gains, as bulls face stiff rejection just below the $1,750 barrier once again. An unexpected negative shift in risk sentiment on news that ex-Japanese Prime Minister Shinzo Abe was shot in the chest at an election campaign speech in Nara. He was immediately taken to hospital but reportedly he was showing no vital signs.
As observed on the daily chart, the recovery in gold price remains capped below $1,751, which is the 23.6% Fibonacci Retracement (Fibo) level of this week’s sell-off from $1,815 levels.
Daily closing above the latter is required to initiate any meaningful recovery from multi-month troughs of $1,732. Further up, the 38.2% Fibo level at $1,763 will challenge the bearish commitments.
Powerful resistance at $1.770 will be the next stop for XAU bulls. That level is the confluence of the psychological mark and the 50% Fibo level of the same decline.
The 14-day Relative Strength Index (RSI) is flattening while within the oversold territory.
On the downside, the $1,732 will be the initial support, below which the rising channel target at $1,722 will come into play. A sustained move below the latter will expose the $1,700 threshold.
XAUUSD ANALYSIS OVER H4 CHART.Gold technical analysis
At the lower timeframe, the gold prices are forming an Inverted Flag that signals a continuation of a bearish momentum after a rangebound phase. The downward sloping trendline plotted from $1,812.15 is acting as a barricade for the counter. The declining 200-period Simple Moving Average (SMA) at $1,787.75 adds to the downside filters. It is worth noting that the momentum oscillator, Relative Strength Index (RSI) (14) is displaying overbought signals. Also, the Moving Average Convergence Divergence (MACD) (12,29,9) is portraying exhaustion in the pullback move.
Currently looking for short term selling opportunities in it, Proper money management suggested.
XAUUSD ANALYSIS OVER H4 CHART.Recovery appears limited by $1,821, with death cross in play.
- Gold Price attempts minor recovery above $1,800 despite firmer Treasury yields.
- US-China optimism lifts the overall market mood, as all eyes turn to the Fed minutes.
- XAUUSD sees limited upside, as a death cross remains in play on the daily chart.
Looking for Selling Opportunities in it, Proper Money Management Suggested.
XAUUSD ANALYSIS OVER H4 CHART.Gold Futures: Scope for extra decline.
Gold prices extended the downside on Tuesday against the backdrop of rising open interest and volume, indicative that extra losses remain on the cards for the precious metal in the very near term. That said, the key $1,800 mark per ounce troy now emerges as the next magnet for bears ahead of the 2022 low at $1,780 (January 28).Gold prices extended the downside on Tuesday against the backdrop of rising open interest and volume, indicative that extra losses remain on the cards for the precious metal in the very near term. That said, the key $1,800 mark per ounce troy now emerges as the next magnet for bears ahead of the 2022 low at $1,780 (January 28).
Currently looking for selling opportunities in it.
Gold 15MIn chart - Bearish according to my analysisI've already analyzed gold and posted my idea on friday and it broke-out my support and became bearish now it has to reach the target zone of 1838-1835. It might happen today on a one sided direction or might go back to 1860 and come down tmrw, Nevertheless it's bearish according to my analysis.