Request: Gold Short-term Technical Positioning

FX:XAUUSD   Gold Spot / U.S. Dollar
2568 7 35
Gold             was the second most requested instrument along with USDJPY             which is coming next..

The price of gold             has been in a clear bearish trend , uniformed within the falling channel shown on chart. Recently, the price has accelerated the downside, breaking the support of the channel, and that cleared the way for a test of 1.618 extension level, which might act as support in the near term. An upside pullback is possible now towards a retest of the broken channel before resuming the bearish wave. I would look to short gold             anywhere among 1160-1170, Targeting 1138.00 again and 1100.00. I would exit on a break above 1190, as that may call for a more prolonged bullish rebound.

Happy Trading :)
Join me at
Also at my Facebook             page
My best regards,
Nice place to end the week right smack on that lower descending trendline. Any thoughts about what happens after this is broken?
Thanks.What do you think of gold now?? Should we be long as it broke 1190?
No clear break yet, its a minor spike, If i see stability above it i would look for longs, but i wont long immediately
+2 Reply
Meru PRO Technician
Thank you very much for a quick reply. Appreciate it a lot.
+1 Reply
May I know are you short for this because I'm in the market now?
very nice chart Technician

Thank you so much ! :D
thank you technician Its very informative
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
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