Get started

Goldsignal

Gold- Price could test 1800In my yesterday's commentary I said that Gold could correct its strong bullish move and, indeed, the price fell in the first part of the day. However, after touching the 1755 zone, bulls took control and the day closed to the upper boundary of the daily range. Gold remains very bullish both in short term and medium term and a test of the 1800 zone is not out of the question. As long as the price is above yesterday's low I favor long trades.
OANDA:XAUUSDLong
by Mihai_Iacob
24
Gold- Bulls should be careful, correction could be nextGold had a fabulous price evolution since the 1616 low, gaining 1500+ pips in only 6 trading days, but more importantly, as I've written in my Friday's analysis, has broken above 3 significant points and most probably resuming its long-term bull trend. However, at this moment bulls seem tired and a correction could follow and a drop to the support zone is not out of the question. Aggressive traders can try to catch this correction by selling rallies against 1800 important figure with 2 points of interest as their target: 1625 and 1645. On the other hand, more conservative traders can wait for this correction to be over and look to buy dips in the up-mentioned zones. My previous Gold analysis:
OANDA:XAUUSDShort
by Mihai_Iacob
12
GOLD Weekly forecastGold now in observable motion for upward rally in cope with EUR pairs. After presidential remarks In Europe has Inverted many pairs for a good cause especially EURO pairs.This week mostly Stocks went into a rally shortly after CPI news hit following the rapid move for EURO pairs, GOLD and vice versa as dollar falls in a strong dive as planned by the feds. Technically, Gold has found strong support around 1620-1630. however, there are many barrels on the way up as it approaches major supply levels. Now we wait and see if major news and economic news could be benefitting in coping the price movements in further months or not. That includes Decisions by the new government in UK and Chaos close chats of Ukraine and Russia Conflict and as well as Economic reports of the Feds-Including NFPs, CPIs, and Inflation data.
CAPITALCOM:GOLDLong
by Lavimystic
TRADE OF THE WEEK | Great Gold Trade💰 Hey traders, Gold dropped to a year's low last week. Monitoring the reaction of the price to that, we spotted a confirmed breakout of a falling wedge pattern on 4h. Buying the retest of the underlined demand zone, a great winner was caught. This trade is a perfect example of pattern & structure trading. Did you catch this move? ❤️If you have any questions, please, ask me in the comment section. Please, support my work with like, thank you!❤️
OANDA:XAUUSDLong
by VasilyTrader
4
Gold- Structure remains bearish, in spite of Friday's reversalAfter touching 1620 on Friday, Gold has reversed strongly finishing the day towards 1660 resistance. Looking at the posted daily chart we can see that the bearish structure is still intact in spite of this almost 400 pips reversal and will remain so as long as the 1680-1690 ceiling is intact. That being said, my medium-term outlook remains bearish and I expect a new wave of selling. Also, those of you who are calling for a double bottom should know that this pattern is confirmed ONLY by a break above 1725 My previous outlook for Gold in medium term
OANDA:XAUUSDShort
by Mihai_Iacob
26
Gold- where will it go? A deeper look into itAs the father of the modern economy said back in 1930: " The market can stay irrational longer than you can stay solvent" and this couldn't be more true now with a falling Gold price in a high inflation environment. But there is also a saying for traders:" Trade what you see, not what you think"... So, what do we see when it comes to Gold? Looking at the posted weekly chart, we can see that after the recent high and test of the ATH back in March, Gold has entered a downtrend, and is contained in a downwards channel with clear lower highs and lower lows. Also, we can see a very nice double-top formation with the neckline support clearly broken, so, a downtrend on a longer time frame. Zooming in to daily: On daily TF the downtrend is even more clear: - The rising trend line started in 2018 is broken - We can see the importance of the 1680-1700 zone with multiple reversals, acting both as support and resistance in the past 3 years, and now this level is clearly broken to the downside. - The price is under both 50 and 200 MA - Also we have a death cross at the beginning of July - The recent rise above 1700 is very well stopped by the 50MA and the falling trendline Going to H4: Refining to H4 we can see a double test on the 1680 zone on 11 and 14 November, followed by a break of 1640 support and a test of this broken support and confirming as new resistance yesterday. So, on all-time frames, Gold is bearish... But now we are speaking of XauUsd, so what's happening with the price of Gold in general? XauEur: - With Eur, Gold is also in a downtrend that started in March - At this moment the price is exactly in support and a break down looks imminent XauGbp: - As in XauUsd's case we have a double top - The price is also in support and a break looks imminent Putting it all together: More often than not when we are speaking of the price of Gold we are speaking in fact of XauUsd, but Gold its self is an asset that has trends regardless of Usd's evolution and in this case, all are pointing to a falling Gold price. In conclusion: - In XauUsd's case the trend is strongly bearish and a fall under the recent 1615 low is very probable - There are 2 very important support zones at 1550 and 1450 that can provide targets for swing traders - Considering selling rallies 1640 and 1660 should be very good points - This bearish view on XauUsd is intact as long as the price stays under the 1680-1700 zone Best Regards! Mihai Iacob
OANDA:XAUUSDShort
by Mihai_Iacob
39
Gold- stuck in range with important 1663-65 median zoneAfter the touch the falling trend line of the channel at the beginning of the month, Gold fell and looked like is resuming its down move. However, this drop was stopped by 1640 support and at this moment, the price is stuck in a range between 1640 and 1680 important resistance. 1663-65 zone acts as a pivot at this moment and a daily close above this level would signal 1640 as a higher low. In such an instance, a break above 1680 becomes probable and we can assist in a rise back above 1700 in the next days. I'm slightly bullish at this moment and, as I said, 1665 could bring clarification.
OANDA:XAUUSDLong
by Mihai_Iacob
27