Upon reviewing the gold chart on a weekly timeframe, we observe that after closing at $2393 last week, the price began a steep decline and even corrected to $2295! After constructing bullish candles for five consecutive weeks, this week we are witnessing the formation of a bearish candle, and it remains to be seen how far this decline will continue. If the price...
OANDA:XAUUSD took liquidity below the weakly low. On the daily timeframe, the price formed an inside price action pattern. As we can see, the market rejected the support level by creating a long-tailed bar. Since we have upcoming news today, there is a chance that the price may pull back. I think the market might keep moving upward, approaching the resistance...
Introduction - As anticipated overnight, bulls didn't put enough fight in at 2365 and ferocious bears took out the 43-year trend line. While it's not even obvious they are finished yet - because Binary Forecasting Service's trend engine still see 2323-27 as possible Monday targets before rebounding - I have strong conviction that gold is getting ready to nowhere...
Hey Everyone,
Yesterday we had EMA5 cross and lock below 2371 opening the retracement range 2355 and 2333.
- Both levels were hit.
Today we had the lock below 2333 opening the swing range levels below, which we said will allow us to buy dips on bounces on the Goldturns.
- Each of the Goldturns withing the swing range gave nice bounces inline with our plans...
During the Asian session on Monday spot gold had a GAP and opened lower, falling to a low of $2,360/ounce. Gold is mainly under pressure because tensions around Israel and Iran seem to have cooled down, which reduces risk aversion, thus putting pressure on gold prices. There are no new points in the developments. geopolitical conflict, all attacks are just in the...
Hey Everyone,
We started the week high lighting two weighted levels 2408 and 2371 and was looking for either one to lock with ema5 to open the next range. 2393 resistance held on market open with no ema5 challenge on 2408. The rejection followed with the weighted Goldturn 2371 test our bearish target.
EMA5 cross and lock below 2371 opened the retracement range...
Introduction - Bulls are setting up for a double bottom with a "V" reversal. This means the median will hold. This means 2500-ish on or before 05/23. This does not mean a straight line there though, because medium term 2-way vol is set to stay high all the way to June.
Details - See previous drafts for how we got here.
Warning - If you are new to this...
Yesterday, the gold market experienced significant volatility, with prices falling below $2,400 and continuing to decline below $2,300 during Tuesday's Asian trading session. This decline was triggered by escalating tensions between Israel and Iran. Market participants are betting that the ECB will cut interest rates in June, with three rate cuts expected...
The US Dollar Index is entering accumulation and recovering after 2 days of decline, making gold priced in US Dollars less attractive thanks to direct correlation. The short-term appeal of precious metals still remains. weak as tensions in the Middle East ease and safe-haven demand weakens. The gold market has been less affected by the escalating conflict in the...
The price of gold experienced a modest decline towards the end of Tuesday's trading session in the U.S. after reaching a high of 2,334 USD. During the Asian trading session the following day, XAUUSD continued to drop to 2,323 USD, marking a decrease of 0.11%. Despite the weakening of the U.S. dollar following the release of weaker-than-expected U.S. PMI data, gold...
Gold prices stabilized after hitting a more than two-week low as concerns about escalating tensions in the Middle East subsided, while investors await key economic data to further clarify the timing of interest cuts. US capacity.
Markets are also paying attention to signals from the United States, with US inflation data and a Federal Reserve statement suggesting...
Hey Everyone,
Please see our 4H chart update from Sunday with just our swing range updated.
We had our Bullish target hit at 2389 start of the week followed with no ema5 lock above, confirming the rejection into the bearish target.
Bearish target at 2354 was hit followed with a cross and lock below this level opening the retracement range at 2326, which was hit...
Hey Everyone,
Another great day on the charts today with our Goldturns respecting level to level.
Yesterday we stated that each of the Goldturns within the open swing range gave bounces inline with our plans to buy dips and now heading to 2333 for a test of resistance previously support.
- This played out perfectly with 2333 hit today. 2333 is now acting as...
FX:XAUUSD is entering the correction phase. Earlier, based on technical and candlestick nuances on D1, I warned about the approaching decline. Gold is eliminating buyers and apparently heading towards 2267, 2228.
April 19 idea: The market is getting ready to turn around, collecting liquidity from buyers
On H1 the price is forming a bearish momentum, since...
By checking the gold chart in the 1-hour time frame, we can see that according to the latest analysis, the price was able to fall from the level of $2393 to $2369 and bring us more than 230 pips of profit! After that, the price was fluctuating in the same range. This morning, with the announcement of Israel's attack on Iran, gold was accompanied by a strong growth...
Introduction - So since the move to 2311-2314, I have to "play it by ear" because price is moving faster than my ability to map "an intermediate thesis" that is in sync with price action from here to August. In order to stay relevant and ahead of price action, let's talk less and do better.
Details - Continuing from DRAFT 9-3, price chose yellow route to 2291...
The world gold price just went through a bad session when it dropped to 68 USD/ounce after just one trading session. Investors sold off massively, causing the precious metal to quickly fall to close to $2,300 per ounce. Investors witnessed the largest single-day drop in more than three years. Gold futures price dropped sharply by 65.6 USD/ounce (equivalent to...
Introduction - Bulls are holding 43-year trend line at 2360s while NASDAQ bears formed a soft ceiling at 2400 that should hold past through May 1st FOMC. The result has gold range bound, predominantly between 2367-2392 for the incoming nine trading days, after which gold should head for 2444 and higher.
Details - Follow up to 9-1 DRAFT's failure to break out...
