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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.
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 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'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
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.
XAUUSD ANALYSIS 1 DAY LONG CALL WAIT AND WATCH 1750 TO 1900 ❤️ If you find this helpful and want more FREE forecasts in TradingView
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STOP LOSS 1670
BUY ZONE 1730 TO 1750
ALL TP HIT BUT WAIT
GOLD ranging...and UP AGAINAs I said last weeks since March 21..after 4 months in which all my analyzes about GOLD were almost perfect,
...from my last analysis made on May 4 ... GOLD climbed and reached 1836 as I said from where he rejected and returned again in the Fibonacci area 0.5 from where ... UP AGAIN towards 1794 and even 1836!
THIS WEEEK...exactly as we expected ... GOLD rejected from the Fibonacci zone o.5 and reached the zone 1794 as I said!
in this area I will wait for an extended range and I will enter the trade only at a close for at least 1 day over 1793 or below 1760
GREAT ATTENTION:
*This information is not a Financial Advice.
Buy XAUUSD (gold) Now!!!Gold is about to make upmove, follow the analysis to know how!
Things to consider:
1. Last day gold printed bearish impulse, today its making higher highs
2. Upward momentum building
3. After an impulse a retracement is seen
How to enter:
1. Follow the analysis
2. Entry on 1hr tf
3. Enter when MACD crosses 0
4. Enter when 10 ema crosses 20
5. TP & SL in the analysis
ALL THE BEST!
XAUUSD 15 MIN ANALYSISEnglish
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