itSkushSharma

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14 % forex 86 % other
Top Mentioned Symbols
FX:XAUUSD 42% | 3 DXY 28% | 2 FX_IDC:XAUUSD 14% | 1 GOLD 14% | 1
itSkushSharma itSkushSharma GOLD, D, Long ,
GOLD: Gold forming a falling wedge
30 0 0
GOLD, D Long
Gold forming a falling wedge

Support Level 1316, next horizontal support 1308. Resistance 1338. Gold will need a catalyst to move it up. Possibly OCT 1 china is admitted into the IMF SDR basket. China entry could weaken the dollar. Next catalyst is a no hike for December. I can see gold reaching 1400 by the end of Dec if we get no hike at all this year.

itSkushSharma itSkushSharma DXY, W, Short ,
DXY: DXY Head and Shoulder pattern?
29 0 2
DXY, W Short
DXY Head and Shoulder pattern?

Looks like dollar on a weekly chart looks to form a head and shoulder pattern.

itSkushSharma itSkushSharma XAUUSD, D,
XAUUSD: Gold Needs to break 1340 or its back down
70 0 4
XAUUSD, D
Gold Needs to break 1340 or its back down

I see a dec no rate hike moving gold to 1380 to 1400, but looks like a consolidation might take place. Also dollar is gaining strenght

itSkushSharma itSkushSharma XAUUSD, W, Long ,
XAUUSD: XAUUSD long term resistance (weekly chart)
46 0 1
XAUUSD, W Long
XAUUSD long term resistance (weekly chart)

we should be in a bull trend once yellen makes her speech, watching for no rate hike. Gold first resistance at 1340 next at 1380.

itSkushSharma itSkushSharma XAUUSD, W, Long ,
XAUUSD: Support levels
35 0 3
XAUUSD, W Long
Support levels

Gold is at its lowest horizontal support, if there is another pullback I see gold touching my trend line around (1294-1292).

itSkushSharma itSkushSharma XAUUSD, D, Long ,
XAUUSD: XAUUSD Support Levels
65 0 2
XAUUSD, D Long
XAUUSD Support Levels

Janet Yellen is set to speak this week Friday, market will be anticipating a rate hike for September. Her words will play a big factor on the direction of gold. Support level (1334), (1330), (1322), (1311), (1300). But I expect a delay in rate hike in Yellen speech. Very bullish on GOLD, look to set new high this year.

itSkushSharma itSkushSharma DXY, 15,
DXY: DOLLAR INDEX SMALL UPTREND
17 0 2
DXY, 15
DOLLAR INDEX SMALL UPTREND

SMALL UPTREND ON THE USD, LOOKS TO BOUNCE OFF THE UPWARD TREND. WAITING TO SEE IF IT WILL BOUNCE OR BREAK LOWER.

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