Trading suggestion: . There is a possibility of temporary retracement to suggested Resistance line (2036) or also on uptrend breakup. if so, traders can set orders based on Price Action and expect to reach short-term targets. Technical analysis: . XAUUSD is in a range bound and the beginning of down trend is expected. . The price is above the 21-Day...
Midterm forecast: 1939.45 is a major support, while this level is not broken, the Midterm wave will be uptrend. Technical analysis: While the RSI uptrend #1 is not broken, bullish wave in price would continue. A peak is formed in daily chart at 1818.00 on 07/07/2020, so more losses to support(s) 2000.00, 1970.20 and minimum to Major Support (1939.45) is...
Midterm forecast: 1939.45 is a major support, while this level is not broken, the Midterm wave will be uptrend. Technical analysis: While the RSI uptrend #1 is not broken, bullish wave in price would continue. A peak is formed in daily chart at 1818.00 on 07/07/2020, so more losses to support(s) 2000.00, 1970.20 and minimum to Major Support (1939.45) is...
Midterm forecast: . 1818.00 is a major support, while this level is not broken, the Midterm wave will be uptrend. Technical analysis: . While the RSI uptrend #1 is not broken, bullish wave in price would continue. . A peak is formed in daily chart at 1818.00 on 07/07/2020, so more losses minimum to Major Support (1818.00) is expected. . Price is above WEMA21,...
Midterm forecast: . 1818.00 is a major support, while this level is not broken, the Midterm wave will be uptrend. Technical analysis: . While the RSI uptrend #1 is not broken, bullish wave in price would continue. . A peak is formed in daily chart at 1818.00 on 07/07/2020, so more losses minimum to Major Support (1818.00) is expected. . Price is above WEMA21,...
Retest from the previous resistance, turned support, go Long. but for how long?
Midterm forecast: . While the price is below the resistance 1818.00, beginning of downtrend is expected. . We make sure when the support at 1660.25 breaks. . If the resistance at 1818.00 is broken, the short-term forecast -beginning of downtrend- will be invalid. Technical analysis: . While the RSI uptrend #1 is not broken, bullish wave in price would...
Midterm forecast: While the price is below the resistance 1818.00, beginning of downtrend is expected. We make sure when the support at 1660.25 breaks. If the resistance at 1818.00 is broken, the short-term forecast -beginning of downtrend- will be invalid. Technical analysis: While the RSI uptrend #1 is not broken, bullish wave in price would continue. A peak...
Gold Futures hit $1796 yesterday after pulling back. RSI is still bullish.
Looks like Gold (XauUsd) wants to reverse. It’s been in range trading for 49 trading days. I would look for short opportunities.