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Gold XAUUSD Technical Analysis UpdateAs you can see on the Gold XAUUSD chart, The price has reached a significant support level and it's possible that it forms a double bottom pattern and pushes the price higher to the trendline. In the lower time frame based on the minor levels we can look for breakout patterns or pullbacks to open the trade for the TPs. On the dollar index ( DXY ) the reversal pattern hasn't formed yet so this analysis 60% can be correct. Wish good luck for everyone Risk Warning Trading Forex, CFDs, Crypto, Futures, and Stocks involve a risk of loss. Please consider carefully if such trading is appropriate for you. Past performance is not indicative of future results. Articles and content on this group are for Trading Education purposes only and do not constitute investment recommendations or advice. If you liked our ideas, please support us with your likes 👍 and comments .
OANDA:XAUUSD
by pullbacksignal
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.
FOREXCOM:XAUUSDLong
by charliedavies770
1
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.
FOREXCOM:XAUUSDShort
by charliedavies770
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.
FOREXCOM:XAUUSDShort
by charliedavies770
Gold's Next Bull Leg In ProgressBull Gateway: 1852 Gold spot has created three consecutive positive bars in the last 25 trading sessions (36 days) for the first time. And it's above 200 MA. That's a good sign for buyers! If gold breaks the parallel channel, my upside targets are 1866 - 1882 - 1906 - 1920 . But, it hasn't broken the parallel channel in the last trading session. It's at the resistance line of it. And XAUUSD is quite far to the bull gateway level. So, wait and watch is an option for bull traders. Gold's downtrend will start from the 1832 level. If it fails to break the parallel channel, then go for the following levels blindly: 1826 - 1812 - 1800 Watch significant releases or events that may affect the movement of gold, silver, crude oil, and natural gas. Tuesday, May 24, 2022 04:30 FOMC Member George Speaks - Low Impact 19:30 New Home Sales (Apr) - Medium Impact Wednesday, May 25, 2022 18:00 Core Durable Goods Orders (MoM) (Apr) - Medium Impact 20:00 Crude Oil Inventories - High Impact 23:30 FOMC Meeting Minutes - Medium Impact Thursday, May 26, 2022 18:00 GDP (QoQ) (Q1), and Initial Jobless Claims - High Impact 20:00 Natural Gas Storage - Low Impact Friday, May 27, 2022 17:05 FOMC Member Bullard Speaks - Low Impact
OANDA:XAUUSD
by forextidings
2
08-04-2022 XAUUSD ANALYSISOne 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 1896.923. If the price breaks the support levels the the price will rise to a target 1949.700 and further up to 1958.406.
OANDA:XAUUSD
by babuganesan