Potential buying opportunity on Gold.

FX:XAUUSD   Gold Spot / U.S. Dollar
276 2 4
Weekly Timeframe: The weekly timeframe shows that further buying was seen last week. This move gave us further cause to believe that the 1136.30 level is a solid area of demand. To the upside, there seems to be very little resistance in the way that could stop prices challenging 1244.08 again.

Daily Timeframe: The current situation on the daily timeframe clearly shows that sellers have entered the market. That being said though, our bias still remains long and will remain this way until price significantly closes below the major daily support swap level coming in at 1182.01.

4hr Timeframe: The 4hr timeframe reveals that price had indeed broken below the 1194.11 level, and as a result caused further selling to be seen.

An area we have eye on at the moment is seen marked in green between the daily support flip level mentioned above at 1182.01, and a minor 4hr resistance flip level coming in at 1174.33. In our opinion, this area provides a stable platform in which to begin looking for confirmed buying opportunities. We say confirmed here simply to avoid a fakeout, but if one had the risk appetite, they could possibly place a small pending buy order around 1183.11, and see how price reacts.

Buy/sell levels:

• Buy orders: 1183.11 (Predicative stop-loss orders seen at: 1172.67).

• 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
okay! noted.. thanks
ICmarkets Fiboholic
You're most welcome.
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