BUY XAUUSDAs 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 opportunity for long term traders with almost 100 USD to bag.
It's a great opportunity, so go for it!!!
BUY IT NOW!!!!! FOR GREAT SWING. :)
Xauusdforecast
XAUUSD What's happening?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 1740.
AND IF WE SEE A BULLISH CANDLE TODAY OR IN THIS WEEK WITH 1706 SUPPORT HOLDING. THEN THERE ARE HIGH CHANCES THAT IT WILL BE THE REVERSAL AND END OF THIS SHORT TERM BEARISH TREND. THEN ALSO 1740 TARGET WILL HOLD AND BREAKING OF 1740 WILL LEAD TO 1760 (THIS WILL HAPPEN SOON OR LATER!).
FInally, stay in buy for gold for now if have any open positions let then running, It will move up definitely within a week or two or maybe this weeks end (most probably from Thursday if today's closing come below 1713).
SO, be neutral in gold now. (DAY PERSPECTIVE)
AND MACD GIVING SELL SIGNAL SO CAN TAKE A SHORT SELL FOR 1670 TARGET
XAUUSD TRADE SETUP Gold is favored ended the cycle from 8/16/2018 lows where the daily right side is up in wave ((3)) at the 9/4/2019 highs at 1557 and a pullback to correct the cycle from the 8/16/2018 wave ((2)) lows ended wave ((4)) at 1446 on 11/12/19 where the 4 hour is turning up. While above there the metal can continue higher in wave I toward the 1700-1750 area before it corrects the cycle from the 12/12/17 lows.