OANDA:XAUUSD updates the local high, forms a retest, but cannot pass the area. The price is forming a correction that may reach the trend support area
Within the medium-term perspective on D1, the price is forming a setup for medium-term sales, but there is no confirmation yet. On the local chart the price is in an uptrend and is preparing to continue rising....
Almost two weeks ago, we touted gold’s retest of the support at $1,900 and the potential continuation lower to $1,875. However, soon after that, gold halted its decline slightly below $1,885 and reversed. Subsequently, it went above $1,920. For the most part, this move coincided with the relief in the stock market. Therefore, we remain on high alert and somewhat...
Gold (XAUUSD) has been consolidating for the past 2 trading sessions, having held the 1D MA50 (blue trend-line) on Friday as Support. With the 4H STOCH RSI on a similar cross-to-cross sequence as July 05/06, one last pull-back inside the Ichimoku cloud, can be a Higher Low on an emerging Channel Up. If we see that rebound, we will buy and set a quick target just...
OANDA:XAUUSD continues to form counter-trend correction within the upward price channel. On the global timeframe the resistance area 1920-1935 plays an important role, the price is testing it
Globally, the market has a bearish trend, an upward correction is forming on the 1H while the DXY continues its strengthening. The forex market, where the dollar is in a...
OANDA:XAUUSD is within the descending price channel. The trend break occurred at the end of June. Within the current channel, the price makes a false breakdown of 1902 and forms a rebound to resistance, which many perceived as a trend change, but it is not so
There are not many key news releases this week, but all of them are published on Wednesday, they are...
OANDA:XAUUSD is declining amid the strengthening of the dollar. TVC:DXY finally consolidates above the key support of 103 and starts upwards to 105-107, which gives a new kick to gold for the fall
On the chart we see the price stopping in the area of 1914-1918 and the price forms a retest of 1914 after a false breakout - a strong enough syschgnal that...
FX:EURUSD continues to fall on the back of the strengthening dollar index. As I mentioned earlier in other ideas that the 103 level plays an important role for the TVC:DXY . The currency has consolidated above and headed towards 105, which makes both the forex and OANDA:XAUUSD to fall
The chart shows a descending price channel that plays a key role in...
OANDA:XAUUSD is forming a rally to 1920, which is what I have been talking about for a few days now. At the moment, while DXY is in consolidation near an important level and does not give signs of falling or rising, we see a violent reaction in gold
XAU goes beyond this consolidation and forms a retest of 1919 resistance followed by a false breakdown. But on...
OANDA:XAUUSD confirms flat resistance and forms a retracement of 1890 support, but the price does not reach flat support, while XAU forms a double retest of MA-200, but does not update the high. Strange situation in the market
Statistically, another retest of resistance can lead to a breakout of resistance, but as long as the price is in consolidation we will...
Gold prices have held up well the past couple of days despite a stronger USD and yields. Although its established bearish trend looked overstretched around recent lows, after bears failed to drive prices materially beneath the June low.
We see the potential for the retracement continue higher over the near-term, but we'll be looking out for evidence of a swing...
M Formation has formed on Gold.
However, there is a BIG support with the neckline and the major 200MA.
As long as price stays above, this analysis will e wrong.
So this is a hesitant analysis to present, but one which is showing strong bearish momentum to come based on history rather than present and future.
Price >200 - needs to break below
RSI<50 turn up...
OANDA:XAUUSD is stopping. Yesterday I said that we should expect a flat formation in the near future. We are seeing confirmation. A break of trend resistance sends the price to retest 1900, after which a range of 1900 - 1885 is formed
Note the dollar chart below. Gold is highly dependent on the DXY price. USD breaks the 103 level but does not form a proper...
Gold (XAUUSD) broke below the 1D MA200 (orange trend-line) for the first time since December 19 2022 and that of course didn't do any favors to the bullish cause. The trend remains bearish within a Channel Down since the May 04 2023 High and the technical outlook gets even worse as the 1D MA50 (blue trend-line) is on course to forming a 1D Death Cross below the 1D...
OANDA:XAUUSD is declining amid the strengthening of the dollar index. The latter in its turn broke a strong resistance, and XAU continues to update the lows
There is a possibility that the decline in gold may stop, but only if the trend resistance is broken. The price will go into a sideways flat condition, which will force the price to trade in the 1900 -...
OANDA:XAUUSD finally breaks the medium-term support line and updates the low to 1885. The trading week closes near the local support level, which indicates that the market is ready to continue the trend
This week ended positively for the dollar, the metallo reacted as expected.
There are several important news items to watch out for in the coming week:
1)...
OANDA:XAUUSD amid numerous resistance retests is not yet able to break it. Fundamental data is still on the side of the dollar. The gold price continues to fall and update the lows
The price bounces off the channel resistance and falls, testing 1890. A false breakout is formed against the mentioned support and the price starts a local rebound. Most likely,...
Inverse Cup and Handle seems to be forming on the daily chart for gold.
This does not give safe-haven vibes. Unless it's for a short.
If the price breaks below the brim level (support), we could see downside to come for the metal.
Other indicators confirm downside.
21>7
We just need the price to break below 200MA and it's all down from here.
RSI<50
Target...
OANDA:XAUUSD makes a false breakout amid the news. The price is testing the 1900 liquidity area. The chart set-up and pin-bar form a bullish potential
On the chart we also see the strengthening of the price. Gold makes an attempt to break the bearish resistance and for a few hours the price forms a consolidation above the previously broken line.
On the chart...
