XAU/USD, gold/US dollar, is showing signs of a potential drop in day trading. Technical indicators point to a bearish outlook, with the 50-day moving average crossing below the 200-day moving average and the RSI indicating overbought conditions. The US dollar's strength and the Federal Reserve's hawkish stance are pressuring gold prices. Day traders can consider...
FX:XAUUSD is breaking the bullish trend structure, earlier I pointed out that the market is preparing for a reversal amid liquidity capture at the expense of buyers. The market is testing support for a breakout Idea from April 19: GOLD → One step away from a correction? What's going on? Selling since the opening of the session. Price is testing local lows...
Hello all dear traders! Overall, as expected, the gold market quickly retreated from the $2,400 level, losing a loss of $65 in just one day. It can be seen that gold today touched the 2300 USD mark but it quickly bought back the decrease, recovering 10 USD in this period. It is currently trading at $2310. So what are the reasons and factors that cause gold...
By examining gold in the 1-hour time frame, we see that according to the latest analysis, exactly as we expected, gold faced an initial negative reaction when it entered the specified supply range, and today, with the opening of the market, this drop continued. We saw that the price was able to correct up to $2351 with more than 400 pips and collected the...
Please, check our technical outlook for GOLD. Time Frame: 2h Current Trend: Bearish Sentiment: Overbought (based on 7-period RSI) Forecast: Bearish The market is approaching a significant resistance area 2340.10. Due to the fact that we see a positive bearish reaction from the underlined area, I strongly believe that sellers will manage to push the price all...
Hello,Friends! We are going long on the USOIL with the target of 84.39 level, because the pair is oversold and will soon hit the support line below. We deduced the oversold condition from the price being near to the lower BB band.However, we should use low risk here because the 1W TF is red and gives us a counter-signal. ✅LIKE AND COMMENT MY IDEAS✅
Gold has found support on $2300 FOREXCOM:XAUUSD OANDA:XAUUSD . We could expect a rise of 60pips before any new setup. Use risk management , this is only a trade idea. Let me know in the comments section what other pair would you like us to share an idea on. Happy trading TVC:DXY
The Middle East hostilities have so far not created any substantial impact on oil traffic and USOil (WTI) faces pressure, as fears of a broader Israel-Iran conflict subside. Israel has reportedly retaliated for Tehran’s recent missile and drone strikes, but both sides appear to downplay the matter, diminishing the risk for further escalation. Looking at the...
Considering the easing of tensions in the region, we can look forward to the correction of the gold price
Last week (April 15, see chart below), we discussed the 'necessity' of Gold (XAUUSD) for a medium-term technical pull-back based on its 5-year Cycles: As you can see, we did get indeed the expected rejection at the top on Friday and this week we have started with almost a -5% already. The 1D RSI Double Topped on overbought territory and now is on a Lower Low....
Symmetrical Triangle Pattern on Gold (XAU/USD) H1 Chart A symmetrical triangle pattern has been identified on the H1 chart for Gold (XAU/USD). Here's a breakdown of its characteristics: Description: This pattern is formed by two converging trendlines, one drawn above the highs and another below the lows, with price action oscillating between them and creating a...
Based on the M30 chart analysis, we can see that the price has just bounced off our buy entry at 2296, which is an overlap support. Our take profit will be at2326, which is a pullnack resistance level. The stop loss will be placed at 2264, which is an overlap support level. High Risk Investment Warning Trading Forex/CFDs on margin carries a high level of...
As noted in the latest video update for the week ended 05-Apr, detected in the weekly scans (detailed commentary and full scan results available in the signature below), ASX:CRN represents a potential bearish opportunity should momentum continue and newer lows be made past the current position. As noted, the trade activated on 05-Apr, however caution should be...
Today's focus: Gold Pattern – Correctional phase. Support – Resistance – $2394 Hi, traders. Thanks for tuning in for today's update. Today, we are looking at Gold on the daily chart. We have reviewed recent price actions and our thoughts on what we are seeing and looking for moving forward. Is this just a bout of profit-taking that will kick off a new trend?...
hello guys... as you can see a wedge pattern formed and the price broke it up! consider it the price touched the target of pattern and I mention it on the chart! now if you check the 4h timeframe: you can see a head and shoulders pattern formed but the neckline has not broken yet! if the neckline breaks you can get a short position to the s&d area! this...
🔨 Gold seems to have managed to break the 🟢 Support zone($2,373-$2,360) 🟢. 📈In terms of Classical Technical Analysis , Gold has formed two Symmetrical Triangle and Rising Wedge Patterns . The lower line of these two patterns is common, and Gold has succeeded in breaking the lower line of the two patterns . 🌊According to the theory of Elliott waves , it...
Simple trading - Support and resistance *HEAD N SHOULDER TP HIT(prev chart) *Potential Bullish Wedge Forming Conclusion, Look to sell after a pullback to 2230 The Why: With robust economic indicators propelling interest rate yields upward and the potential for geopolitical tensions in the Middle East to abate, the question arises whether gold, traditionally...
Oil decreased during London session as we were anticipating from our last Analysis. We are still anticipating a further decrease in the medium term but in the short term here we may pullback. This is what the price action is telling us as we have pin Bar candles on the 1hr and 4hr charts that printed at our 2 daily support level's 81.22 and 80.64. This suggests...