OANDA:XAUUSD   Gold Spot / U.S. Dollar
In this post, we will analyze Forex Gold with the symbol XAU / USD . We review the fundamental news and perform a technical analysis according to the modern price action method and identify the appropriate points and signals.

Fall of gold

After the price of gold fell to 1722, gold entered a short-term uptrend, causing the price to jump to $ 1762.

Descending channel

In general, at intervals of more than 2 hours, gold is still inside a bearish channel and its price growth was up to the top of the bearish channel last night.

The downside of the channel acted as a resistance, pushing the price of gold to $ 1,751.

Triangle pattern

Now, in a period of 15 minutes, we see the creation of a triangular pattern whose lower side is between 1751 and 1750.

Fundamentals

The US PMI is scheduled to be released at 17:30 Tehran time. Forex analysts forecast a 0.3% decline.

The possibility of the dollar falling

But according to Powell and Ms Yellen yesterday, the PMI is expected to be lower than expected. This will weaken the dollar and strengthen gold .

So the formed triangular pattern can mark the green dots and the gold weekend will be bullish .

Signals



Suitable entrance area: 1752 to 1751

Profit Range Suitable Range: 1755, 1757, 1760

Suitable area Loss limit: 1749.5 to 1748.5
Trade active
Trade closed: target reached