Xauusdsignal
XAUUSD 1H BUY PROJECTIONReason 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
SL 1665.00
TP 1681.50
Gold long possible Gold xauusd buy now @ 1666
Stop loss 1640 (260 pips)
Target one 1677 (110 pips)
Target two 1697 (310 pips)
Target three 1713 (470 pips)
Target four 1733 (670 pips)
Trade based on double bottom pattern in daily timeframe and breakout of resistance 1671 in hours 2 timeframe and based on pure price action levels
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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
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