XAU/USD (Gold) Analysis July 2018

This will be my views of Gold for July 2018
Please make sure to read the "update" comment as there will be changes along the way.


Cheers.

S0nic

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Comment:

XAUUSD

Slight Bearish.
We are seeing a minor pull bull back are coming in. That shows the bulls are coming back in to support the price from dropping alot further down.






If you want to long, do it slowly with a small lot as I am seeing we still have a potential downward swing toward $1230 level first.
If there is any successful bull swing up, $1256 will be a hard resistant.

Comment:

GOLD.

It just made a strong swing down to wipe many longs out. It shall go lower first it has a strong momentum in the daily candle.
So, staying short is a better bet for now.

Comment:

Gold


I am still Slight Bearish. We are still in overall downtrend. So, any long trade should be considered counter trend.
We had a strong tweezer pin on the last Thursday and Friday, it shows the signs of potential bullishness, while using $1,208 region as a good support.

If you are looking for a prefect short entry, $1,242 and $1.268.

Comment:

View On Gold (28 July 2018)

Overall, we are still under a DOWNWARD spiral.
Every swing up will be met up a strong push-down.
So, do not be eagerly bullish yet. It may swing up to 1,242 level and at the same time, 1,200 will be a decent support.




www.tradingview.com/x/dcRxQFsd/

Comment:

Comment:

View On XAU/USD Gold (30 July 2018)

I am Slight Bearish. We had an inside bar in weekly and still in an overall downtrend.
So, any long trade should be considered countertrend.

We had many strong tweezer pins in the last few candles. It shows the signs of potential bullishness while using $1,208 region as a good support.

If you are looking for a perfect short entry, $1,242 and $1.268.
We have FOMC in mid-week and it will have high impact.