Get started

Xauusdidea

PULLBACK COMING IN XAUUSD!!!!Okay so, on Friday we have seen day closing at 1741 with 1751 high. We can see that resistance is provided at 1750 level and is expected too as this region holds multiyear resistance. So, we have taken a short here as we said in our last analysis on gold. But, on the other hand we need to keep in mind that gold is highly bullish and a little overstretched towards upwards. This trend will continue but this pullback will be needed to attract more buyers. According to me, buyers must enter at 1700-1711 levels as there is the support of the trendline, and if price breaks from here then buyers might look to enter at 1670 levels approx. But prices are more likely to rebound from 1711. So, we have to take profit at 1711 range or at least moe stop loss to secure some profit. There are fewer chances that prices go below that level this time. This may be the situation in gold at this time. I hope you like this analysis of GOLD!!! :)
FX_IDC:XAUUSDShort
by ng_forex
XAUUSD - Can we enter in a trade ?Okay, so gold has been confined in the triangle for almost 1 month. It constantly made lower highs and higher lows!!! And 1670-1685 region holds some strong support as price tested this region so many times but always made recovery from there. Also, 1610-1615 region is tested too many times also. It is clear that if this triangle breaks above then first resistance will be provided at 1720 and it's also possible that market may remain stable at this point for sometime before breaking above or lower. Also, we are stuck in the 1740-1670 range too. So, if 1720 breaks and 1740 breaks too then we may see a movement of about 40-50 USD upward and if prices breaches 1670 then we may see 40-50 USD movement downwards. However, we are still more biased towards upward breakout because GOLD is still in bullish territory a little stretched upward but as I said earlier " GOLD is HIGHLY BULLISH!!!!". But we will not get into any swing trade till we get a breakout. Also, there may be a breakout upward and prices may hover at 1720 for sometime. If, prices breaks above 1720 and gets stable then only we can go long because 1720 is strong resistance too. Till, then we will KEEP CALM AND TRADE OTHER CURRENCIES... :) If you like this analysis then drop a like and comment what do you think about gold? FOLLOW ME FOR MORE UPDATES ON XAUUSD :)
FX_IDC:XAUUSD
by ng_forex
XAUUSD IDEAOkay, so, last week we have seen a beautiful rebound from 1671 levels which will be acting as strong support. On the other hand, gains are still capped till 1740 as this level is tested approximately 4 times in the daily chart. So, it is clearly showing strong resistance at 1740. If this level breaks, bulls will face immediate resistance at 1667, but it may get cleared easily if 1740 is broken and 1800 levels may be seen soon. Still, there is a strong confluence of indicators at 1707. So, if 1707 breaks easily, then it will be a great long opportunity as then 1740 level may test once again. WHICH WILL BE A GREAT OPPORTUNITY FOR US. WE ARE STILL BULLISH ON GOLD. SO, IF YOU DON'T WANT TO TAKE LONG POSITION THEN MUST NOT TAKE SHORT ALSO, BECAUSE IT'S STILL HIGHLY HIGHLY BULLISH!!!! EITHER GO LONG OR BE NEUTRAL TILL 1740 BREAKS. FOR LONGTERM TRADERS, JUST BUY AND TAKE PROFIT AT 1800. THIS MONTH, GOLD MAY REACH THIS TARGET.
FX_IDC:XAUUSDLong
by ng_forex
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. :)
FX_IDC:XAUUSDLong
by ng_forex
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
FX_IDC:XAUUSD
by ng_forex
Gold broke major support for more sell side direction XAUUSD Technical Overview: Pivot: 1188.20 Key Resistance: 1184.55 - 1188.20 - 1192.89 - 1196.48 Key Support: 1180.23 - 1176.45 - 1174.88 - 1171.43 Technical Indicator: RSI: The indicator having bullish divergence but moving under 50 level near to oversold condition. Moving Average: CMP 1182 Price moving under Simple moving average 100 & 55, sign for more down trend ahead. Technical Trade Idea: Most Likely Scenario: short positions below 1188.20 with targets at 1182.55 & 1176.45 in extension. Alternative scenario: above 1188.20 look for further upside with 1191.89 & 1194.66 as targets. Overall, Gold markets broke down rather significantly during the day on Thursday, slicing through the $1200 level like it wasn’t even there. Furthermore, we broke below the hammer at the $1195 level, which is a further sign of weakness. the US economy is running at full steam ahead, it was appropriate that the Fed removed that sentence from the statement - But what markets traded was the forward outlook - As the policy rate moves closer to estimates of neutral, members of the FOMC and observers, market participants, now forecast a modestly restrictive terminal FFTR while other Central Banks embark on their own normalization of policy, thus stripping some of the yield advantages out of the long end of the curve for the dollar. However, in the near term, the dollar remains on top and following today's set of economic data,"Between Chairman Powell's comment yesterday the that the U.S. economy is in a particularly good spot and today's robust durable good orders and excellent business spending, despite the August pause the six months to July saw the strongest investment spending in five years, the dollar has room to run on the American economy alone." US economic data US: Pending home sales decline by 1.8% in August vs 0.4% expected. US: Durable goods orders increased by 4.5% in August following July's 1.2% contraction. US: Real GDP expanded at an annual rate of 4.2% in Q2 to match expectations. FOMC outcome notes As expected, the FOMC raised the FFTR and the IOER by 25bps at its September meeting. ‘Dot-plot’ distribution around three hikes in 2019 narrowed; FOMC still sees strong growth as cyclical. 2021 projections indicate a ‘soft landing’ through lower real growth and slightly higher unemployment. The only significant change to the statement was the removal of the description of monetary policy stance as “accommodate”. Thanks YoCryptoManic
FX_IDC:XAUUSDShort
by yoCryptoManic