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Goldrange

Gold Analysis Daily Time Frame Hello Traders Gold is within its daily range (4024 - 3929) and for Monday it will be important whether it can close above or below the marked candle. I expect a similar move for gold this week, the condition for this move is that the daily candle does not close above 4019, if the Monday candle moves towards 4035 and immediately stabilizes below 4019, this path can be expected to continue until liquidity levels are low. The three levels of 4062, 4075 and 4090 are still important resistance points, and the market has not yet pulled back to these levels, so the price may be slightly higher than these areas to continue the path. Good luck
FOREXCOM:XAUUSD
by kinshinreza
XAUUSD Gold : New week, huge expectations! 25.4Wow! Week opened below 1935 support trend-line which was ongoing since the start of the year! Obviously, this followed with a continuation down to 1915 horizontal support. *A close below a 4+ month support trend-line usually dictates a 'retest' - That's when the price goes back to the broken trend-line and 'touches' the trend-line which was broken. *A drop below 1915 with a 4h candle close would allow for 1890 as the next target of the breakout down. On a bigger perspective - the weekly, big picture trend is still up. Fundamentals are very strong for Gold due to war, pandemic, inflation and overall significant uncertainty. Connecting lows since 2018 show an ascending trend-line with consistent higher lows through the years. This trend-line currently stands at around 1840, meaning this could be the target of the current ongoing movement - Although multiple strong horizontal supports could reverse the market back up way before 1840, which with reversal could mean the continuation of the weekly up-trend :D --------------------------------------------------------------------------------------------------------------------------------------------------------------------- If you found my idea helpful, please like and follow, this would mean a lot to me :D I'm always here to answer all of your questions and assist however I can. Don't hesitate to contact me and make any kind of comment/suggestion. Thank you! ----------------------------------------------------------------------------------------------------------------------------------------------------------------------
FX:XAUUSDLong
by Exactus
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