Gold: Technical outlook and review.

FX:XAUUSD   Gold Spot / U.S. Dollar
154 0 4
Weekly Timeframe: Further buying has recently been seen on the weekly timeframe , which consequently pushed prices up to a weekly support flip level coming in at 1244.08.

Daily Timeframe: The daily timeframe shows that the if selling interest comes into the market around the aforementioned weekly support flip level, there is very little stopping price from declining all the way down to a minor daily support flip level coming in at 1206.49.

4hr Timeframe: The weak-looking 4hr supply area at 1239.37-1233.79 was well and truly consumed yesterday. This - like most of the major pairs was likely fuelled by the poor U.S data announced yesterday. What happened after this was no surprise as well. Selling interest came into the market within an important 4hr supply area at 1250.85-1243.69. The reason for this area’s importance is simply because this is where we believe the decision was made to break below the weekly support flip level at 1244.08, and as a result there were unfilled sell orders left behind.

According to the higher timeframes it is very likely further selling may be seen. We on the other hand will not be convinced until the small 4hr decision-point demand area at 1234.07-1238.94 is consumed, as this could prove to be a troublesome area to break. Assuming this area gets consumed, we will be looking at getting in short as soon as possible, and will likely target the 4hr demand area below at 1217.25-1221.95.

Buy/sell levels:

• Buy orders: N/A (Predicative stop-loss orders seen at: N/A).

• Sell orders: N/A (Predicative stop-loss orders seen at: N/A).
Get real-time trading updates at our official Telegram group : https://t.me/ICMarketsroom
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
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