Gold continues to consolidate and gather liquidity to move in one direction or the other. The NFP report will be released soon which will give a medium term view on pricing
TA on the high timeframe: 1) Price has broken 1938.9 support and is forming accumulation below the level. 2) The market is preparing to develop medium-term interest. Consolidation below the support indicates that the market is ready for a fall 3) If after accumulation below 1938.9 the price goes back up behind the level, a strong momentum to 1950 will be formed
TA on the low timeframe: 1) Trend support was previously broken 2) Price is forming a prolonged and narrow flat. There is a huge amount of energy forming inside 1932 - 1938. If 1930 is broken, a strong momentum to 1913 will be formed 3) BUT! If a false breakdown is formed (price returns inside the channel and breaks through 1940, a strong upward impulse will be formed.
Thanks for the detailed analysis of the potential asset movement, that was very helpful. Very interesting to watch your reasoning on technical analysis.
WalterMoon
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Clear XAUUSD post, thank you for your insights
LegionQ8
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thx buddy, agree with your opinion about XAUUSD
Tolberti
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Very nice! Keep posting.
linofx1
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Great TA
basictradingtv
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Mrs. Gold, that's my view:
FirstNameHelen
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Well, if you say so about XAUUSD, its probably true, agreed