OANDA:XAUUSD The price of gold has gained strength following positive data from China and new fiscal stimulus measures.
The US Dollar (USD) has retreated from its six-month peak, providing additional support for the precious metal.
Increased bond yields in the US may also help limit the correction of the US Dollar (USD).
OANDA:XAUUSD The price of gold is pausing at the start of Friday, consolidating a four-day upward movement to reach a two-week peak of $1,923 achieved on Thursday.
The US Dollar (USD) is assuming control due to risk aversion and continuing its previous surge, supported by the renewed power in US Treasury bond yields.
Reason Behind XAUUSD Sell 1H
1. Market Clearly in Downtrend in 1H time frame
2. Restesting Yerterday and Major Support @ 1952
3. We entered the trade @ 1962 which is our major Resistance 1
4. Stochastic Overbiught in 1H
5. RSI 14 around 50 which Makes the bearish trewnd in 1H
Overall Possible Outcomes
Reason For XAUUSD Fall
1. Breaked Out 1930 and ready to retest 1945
2. Stochastic and rsi indicates Bullish momentum
1. If DXY break 101 and fall then gold will retest 1945 and later 1960
2. If take support here then gold may fall upyo 1899
Overall XAUUSD SELL LIMIT 1945
XAUUSD Overall Outcome
GOLD SELL 1744.20
ReASON For SELL
1. RSI 14 @ 50 and tends to be bearish
2. Stochastic indicator is over bought and tends to be bearish ans retest the yesterday Low of 1731
GOLD SELL 1629.30
Reason For Short SELL
1. RSI below 50 and tends to be bearish in 1H trend
2. Stochastic Indicates sell due to asset overbiught and cross below 80 and confirm sell
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GOLD BUY LIMIT 1620-25
Reaon For XAUUSD GOLD BUY
1. Retest Yearly Low and rebound the major Resistance
2. Fibonacci Indicates teg Bullish
3. RSI over sold an tends to be bullish
12 February 2022 xauud-gold technical analysis chart.
This is a weekly chart,We have drawn the train line, from which the candle is seen breaking.
The market will go up a little until 1915.35 and come back a little bit and go up again