Hello there all, Here's the XAUUSD forecast for long idea. Please do let me know if you are seeing what I'm seeing or have a different perspective on it, I would love to see your analysis. Please do drop the chart link below on comment section, I would love to see it This is not financial advice. Thanks all
1-Hour: Price crossed below the 1,700 level and quickly retraced above it. It tested this level again, but held supported as well. This is the third wave where we're expecting bullish momentum to build up. 1-Day: This 1,700 level is also apparent on the daily timeframe. However, we might end up seeing this pair range as it pulls away from this level. As a...
1-Day: The 1,700 level is a reversal point. Price dipped to this level and formed a daily doji. 1-Hour: Over on the hourly, we're also seeing the structure change. Price is beginning to paint higher highs and higher lows. I currently have my entry set at the 1,733 level which is where the moving averages have converged. This is a good potential to ride the next...
Gold has broken it's major resistance which indicate of more bullish.
XAUUSD Analysis: price is currently above resistance zone we are seeing bullish momentum pushing price in buys directions if price test price 1449.508 we can expect possible buy momentum or if price fall below price 1449.508 it can reach level 3 support price 1381.508 for a bigger sell retracement long term daily time frame.
We can't ignore a possible retest of the broken trend line and a major pivot point near 1210s. Long term bias: LONG Best of luck!