XAUUSD continues to climb higher. At the same time, the odds for validation of inverted head and shoulders pattern increasingly grow. Pattern will get validated once neckline (around 1835 USD) is penetrated to upside. This neckline currently acts as important resistance level. We expect occurence of breakout above this resistance to be accompanied by resumption...
XAUUSD trades just 10 USD below its short-term resistance. We will observe gold in the following days and we will look for potential strength that could elevate price above short-term resistance. In our opinion such occurence would be very bullish development for gold. Indeed, we expect it to cause resumption of uptrend in gold. Because of that we continue to be...
Gold is at the resistance line of the descending channel in black on the daily chart. I expect it to breakout and go up to the daily resistance line in red and then come retest the the level where it's at right now the shoot back up. My reason is that DXY recently hit the resistance line in red and is on it's way back down already let's just hope it tears through...
Price has broken outside the trendline which opens 1806, 1818, 1830 but resisting on a EMA5 strong turn resistance. If we do not get confirmations via our Goldview setups then it is likely to break back into the channel and target 1787, 1777, 1767 and then 1748, as these setups have already had some activation. We will keep you posted on how we manage this...
Hello Traders, if we'll measure 1676-1916 ample as 1st Ample after (C) correction, then what could we expect for optimal (1,*3*,5) third wave. Here I've tried to illustrate it.
Gold is playing a big cup & handle pattern in weekly time frame. According to my view it will be reach $ 2,800 before 2025. Thank you ! #DoYourOwnResearch# #IamNotaFinancialAdvisor#
In recent days XAUUSD dropped below 1800 USD towards it short term support around 1785 USD. Since then it rebounded little bit and it currently trades around 1795 USD. In the big picture we are still very bullish on gold. Especially in medium-term and long-term. Although, XAUUSD failed to break above its short-term resistance and travel through its confirmation...
Since our last update on 27th August 2021 gold has traveled towards resistance around 1834 USD. It currently trades around 1830 USD. In the following days we will observe gold for strength. We will watch out for breakout above 1834 USD as we remain bullish on gold. Our short term price target remains 1850 USD and our medium term price target remains 1875 USD. We...
Gold has rebounded from its recent low at 1677.686 USD. Currently it trades around 1750 USD. RSI reversed to the upside and crossed above 30 points on its way, showing bullish signs at the moment. MACD is flattening out. Stochastic oscillates in its lower area, although, it starts to show first signs of reversing to the upside similarly like RSI. First resistance...
We are currently bullish on gold, we shall wait for confirmation from the shown areas. Although we could possibly see some more downside pressure, we have bullish bias.
The above chart shows the daily timeframe for XAUUSD. We note that price has moved into a bullish area (zone 1). The Bollinger’s have also narrowed which may suggest that volatility is due to increase (blue rectangle). Moreover, the RSI has moved above 50 (red rectangle), which is the bullish area of the oscillator and the stochastic has tuned positive (green...
Drop in XAUUSD this week may be perplexing to many people. However, yesterday we outlined case for divergence between price and RSI. This is very positive developement for price of gold. Our short term price target remains 1810 USD per ounce. Our prior thoughts from 28th June 2021: Here we covered technical indicators and outlined case for divergence between...
Yesterday gold halted its decline at 1767.295 USD per ounce and we saw heavy accumulation below 1800 USD pricetag. MACD remains bearish. RSI and Stochastics show signs of being oversold. In addition to that RSI seems as it wants to reverse back to the upside. However, investors should be wary that drawdawn towards 1750 USD is still possible. Though, we do not have...
$xauusd $xau #gold #xauusd gold long play. will this work out?
Last week gold halted its decline at 1856.040 USD after finding resistance at 1916 USD. Support remains at 1852 USD. We think price will trade in range between support and resistance for a while. There is even possibility that support will be retested, however, we think there is small chance it will be taken out. Technicals are currently mixed. We believe bullish...
We are patiently waiting for gold to cross the 1910-1920 threshold. We are still bullish overall as we sit above the 200MA and the 50MA but looking at Thursday's CPI projections as a sign of where things will be in a few months.
Gold has been steadily climbing up since 8th March 2021 when hitting low of 1676.866 USD per ounce. This low was subsequently retested for the second time on 31st March 2021 when price halted its decline at 1677.954 USD per ounce. This is bullish sign for gold, altogether with the fact that gold currently trades around median trendline (white dashed line) of...