As you can see from the chart, there is all chances to continue the upward trend up to 1960 and stay within the average price band.
The target - 1960.
I believe in practicality, indicators work (usually). So we will see.
Gold has completed a wave of growth to the level of 1980.66. Today the market is trading in a correction to 1929.50. After that, we expect the development of one more wave of growth to the level of 1993.10 with the prospect of working off 2000.00. Next, consider the probability of a correction to the level of 1955.50.
As S&P sentiment continues to soften over the continued US Covid-19 outbreak, I expect we will see a fall in the S&P and opportunities to short as companies forgo dividends making the indices less attractive.
Conversely, the outlook on XAUUSD continues to be bullish, and expect cash to flow to the safe haven from indices as the outlook remains uncertain.
Forecast XAU / USD quotes continue to move as part of the growth and formation of the inverted Head and Shoulders model. At the time of the publication of the forecast, the price of Gold is 1732 Dollars per Troy Oz. Moving averages indicate a short-term bullish trend. Prices pierced the area between the signal lines down, indicating pressure from asset sellers. At...
GOLD PRICE INCREASE IN COMING DAYS IF BLUE LINE UP FROM RED LINE IN STOCH OR HULL RETURN GREEN .THERE IS GOOD DIVERGENCE FOR LONG .IT CAN TOUCH 1700 .
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Hey Traders, You can see in the chart that gold moves again with the price up after the bearish movement in the last weekend.
While the market isn't stable yet so short is the best choice until now. Technical analysis works well most of the time but NOW the fundamental plays big role in Forex.
Wish you all the best!
Why is gold money? Why do central banks always deny gold is not money but they accumulate gold every year and build solid vaults against atomic bombs to protect gold? The nature of money is only paper, it has no intrinsic value. Gold is a non-oxidized chemical element, a popular jewelry for thousands of years. Cryptocurrencies (virtual currencies) are only stored...