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VasilyTrader
Jan 17, 2021 10:15 AM

GOLD (XAUUSD): Technical Outlook & Price Action Long

Gold/U.S. DollarFXCM

Description



hey traders,

here is my multi-timeframe outlook on gold:

on a daily the price is still coiling on a major falling trend line that the price touched last week.

Taking into consideration that the global trend is bullish, I still expect a bullish reaction & continuation.

However, checking the situation on hourly time frame, we can clearly see that the price is currently consolidating.
Local support cluster is based on a daily trend line and 1817 level - current local structure low.

I believe that we can expect an intraday bounce from that next week.

I would also recommend waiting for a confirmation before you buy.

Good luck!
Comments
Rayshawnrosemond
Are you alive
muqeetforex
@Rayshawncaffee, yes iam
FlyDownX
Great analysis!
We have the same bias but in a different perspective🎢
DACapitalTrading
clean setup buddy
lmulhare
Thanks Vasily :)
TheApolloo
Same idea mate,keep it going!
Sway_Fx247
Good Stuff
Babenski
Good job here as always 🙏
VasilyTrader
@Babenski, thank you bro!!!
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