MarcoPileggiFX

MarcoPileggiFX

Viewing the daily Xau chart, will the pattern continue? Gold has successfully bounced off each fib level one after the other, will it find support at the 2060 mark to lock in the pattern??

MarcoPileggiFX Updated 

After a decent sized down move the past week XAU managed to reverse and head back up. After a hard fight Friday, Jan 19 we saw Gold close at 2029 after a strong fight to break the level. After some war news over the weekend I am expecting to see a gap up to form a double top at the 2040 level and then move downward to 2020 to retest at the .5 fib level of the up...

MarcoPileggiFX

It has been quite the fall from last weeks impressive ATH all the way back to just below the 2K mark. With lots of big news coming in the next week GOLD is sure to experience either another large drop or a retest of the ATH. We may see a retracement to the golden Fib zone around 2016 and then a decline down to the 1980 and below, or we may see the Bullion blast...

MarcoPileggiFX

With Fridays break of the all time high, XAU rally is anticipated to be just getting started. After complying with the Fibonacci levels it has made it to new highs and the sky seems to be the limit...for now. A correction is eventually very likely but 2130 is in sights> Can we hit it in the coming week? Happy Trading to all and trade safe. Always remember to use...

MarcoPileggiFX

Heading into Asia session we could see XAU break the 2052 resistance and head up to 2054, possible retrace back to support at 2052 and then rocket up to 2069 area. If 2052 can't be broken it could bounce back and retest the 2040 area until it builds momentum for a 2052 retest. Happy trading and don't forget your STOP LOSSES.

MarcoPileggiFX

Good Morning Trading viewers, looks like today could have a 50% retracement in store. Higher TF charts still bullish and this could be a good opportunity for those who missed yesterdays bull run to get in for a decent LONG position. Always trade carefully and USE STOP LOSSES… After retracement XAU could potentially be head for new ATH. Happy Trading!

MarcoPileggiFX

So far XAU has made some huge moves to the upside this week, will it continue to pump to create a new ATH or will it need to retrace to build up more momentum to get there. Happy trading to all and I hope you are all on the profitable side of your trade!

MarcoPileggiFX

Gold has had lots of power behind it especially during asian sessions this week, after reaching 2018, a quick retracement to the golden zone should help build some momentum to break 2018 resistance and head to 2028.