Based on TA, Daily is big sell, however lower time frames such as 30min, 1hr are indicating a buy. Potential retest then dump? or dump if 85-91 is broken.
If kept above 91-94 it will return to:
Levels to watch:
According to the Fib, Gold has retraced back to some key areas such as .5 and potentially retrace higher to 0.618 and 0.786. The Retracement and the extension levels has been marked.
Key Levels for the chart:
Fed Rate + Fed conference has send the price from 1753 to 1780. I am still bearish, I believe the buy was to trap buyers, Potential sl hunt above 1784 also feasible.
Looking to sell.
Profit areas are marked. Invalid above 1799
Not Financial Advice.
The break of the level 1757-62 can result in the price of XAUUSD falling into the 1740s, further break can lead to 1730s or even lower. A lot of liquidity below 1762. Bullish sentiment is very high. Most broker sentiments shows 70% + clients being net long vs 20-30% net short, as well as change in percent of 17-22% from sell sentiment to buy sentiment this week....
US30 has reached a key level, Rejection here could see a big fall. Break up could result in a breakout hence the good RR on the short here.
Key levels :
Tp's and sl has been marked.
This is not a financial Advice
Expecting a bearish gold move after nfp. With targets of 1761, 1759, 1755 ,1744. However, hold of the area 1757-1761 can result in buyers stepping in.
Potential short area 1771-1774 if broken then 1777-1781 area can be tried.
Invalid above 1788
Potential Downwards move from here. 1872-75 can also be visited however, Looks bearish, invalid above 1890.
-DXY above daily Resistance
-Bear Divergence on Weekly TF (Gold)
-Buy stop Liquidity, as mentioned at the start of the week.
-Bearish Butterfly on daily.
Current Support 1835, 1821, 1798. Can be used as TP. Below 1780 Heavy Bear.
BSL - Buy Stop...
Gold can Potentially have a downside move towards 1747, 1738, 1717, 1707.
Potential shorting area, 1772-1776 if failed 1779-1784 range can be next area to short.
- Rejection of Daily EMA (1796)
- Weekly Close below 1770 ( Monthly Pivot, Strong resistance)
- Candle Patterns, Strong Bearish reversal
Invalid if price moves above 1790-1800
Not a financial advice
-Area to watch 1869-75, Break below would indicate the breaking of the bullish structure (trendline from 1680), The holding of the area would result in the revisiting of 1890 with a possibility of 1900.
-Bias towards short however, data from Inflation Rate YoY and Core Inflation Rate YoY could invalid the short bias.
-Possible downside targets 1875, 1866, 1858,...