Gold might be in a wedge (but testing big support ahead of NFPs)

FX:XAUUSD   Gold Spot / U.S. Dollar
Gold             on the daily log scale is in an interesting spot right now. Support at $1300-05 has been tested (note the trend line on the daily log chart). While there seems to be some sort of wedge that has taken shape since the start of the year on my chart, I'm not in a bearish mindset as of yet, unless if $1300 is breached following the NFPs Friday. So long as the market remains above $1300, it may be assumed that gold             could bounce back up to around the $1350-60 area in September with perhaps room for fresh highs up to $1380 if the US dollar             comes under sustained pressure. Do check my note on silver             below as that metal has also tested a major support level .
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out