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VasilyTrader
Jan 16, 2021 11:01 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
Dwalton04
I'm praying to the XAUUSD gods that when the market opens I have time to adjust my SL which I set to $1817 on friday evening 🙈 🙏
VasilyTrader
@Dwalton04, thank you for comment my friend :)
frankkafari
thats also my expectations loking at gold/eur and silver . am expecting a buy
VasilyTrader
@frankkafari, thank you for comment buddy!!!
importantCode12562
good analysis
VasilyTrader
@importantCode12562, thank you bro!!!
JerryChampion
Great Analysis. I'm seeing a bullish Gold too.
VasilyTrader
@JerryBenjiz, thank you Jerry 😊
VasilyTrader
Are you also bullish on gold?
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