Goldusd
GOLD Daily TA Neutral BearishGOLDUSD Daily neutral with a bearish bias. Recommended ratio: 35% Gold, 65% Cash. *Gold, Oil, Agriculture, Treasuries, Euro and Cryptos finished higher today while DXY and Equities closed lower. Last week the EU proposed a new ban on Gold imports from Russia (the fifth largest holder of Gold reserves in the world). Equities started strong but then finished lower on news that Apple is going to slow hiring and spending in 2023 . This rally appears to be part of a broader technical relief rally amidst an onslaught of macroeconomic and geopolitical bearishness, but it still begs the question... when will a recession finally be fully priced into financial markets? Key dates this week: June Housing Starts and Building Permits reports scheduled for release at 830am (EST) tomorrow morning (07/19); the next GDPnow Q2 GDP estimate (previous -1.5%) by the Atlanta Federal Reserve is scheduled for release at 830am (EST) tomorrow morning (07/19) as well. The market consensus estimate for Housing Starts is 1.58m (up from 1.549m in May) and for Building Permits it's 1.65m (down from 1.695m in May) ; if Housing Starts and Building Permits come in lower than consensus it would signal that the economy is continuing to trend toward a recession and may be perceived as bullish by the markets because it would also imply that the Fed's hawkishness is being effective in reducing demand (the only way the Fed can directly influence inflation).* Price is currently attempting to find a temporary bottom at $1700 while continuing to form a Bull Flag after breaking down below $1742 minor support; the next support is at $1685. Volume remains Moderate (high) and is currently on track to break a two session streak of seller dominance if it can close today's session in the green. Parabolic SAR flips bullish at $1742 minor resistance, this margin is mildly bullish. RSI is currently trending sideways at 25 after being rejected by 27 resistance, the next support is at 20. Stochastic crossed over bearish in today's session and is currently trending down at 2 as it approaches a retest of max bottom for the second time this month. MACD remains bearish and is currently beginning to form a soft trough at -35, the next support is at -39 (the ATL is at -52). ADX is currently trending up at 36 as Price continues to see selling pressure, this is bearish at the moment; if ADX is able to form a peak as Price reverses and goes higher, this would be bullish. If Price is able to bounce here at $1700 then it will likely retest $1742 minor resistance . However, if it continues breaking down here, it will likely retest $1684 support for the first time since August 2021. Mental Stop Loss: (one close above) $1742.
Gold analysis: momentum building upGold prices enjoyed a good start to the week, as investors scaled back their expectations for a massive Fed rate hike by a full percentage point in July, and after China announced further liquidity stimulus to cope with rising Covid-19 cases and housing debt problems.
The latest economic events have all helped to alleviate worries of an imminent recession in the US economy while also providing new vigor to market risk appetite. The dollar is losing ground, with the DXY index lingering around 107. The fall in the dollar gave the bulls some confidence, with gold hitting an intraday high at $1,725 before falling to $1,711 at the time of this writing.
Looking at the daily chart, gold prices may have found support at the $1,700 per troy ounce area, a level that has not been decisively broken in the past four sessions, which have seen some buyers resurfacing. The 14-day Relative Strength Index (RSI) hit 23 last Friday, the lowest level in nearly four years (August 2018), but the momentum improved at the start of the week.
The RSI is now trying to break out of the oversold zone. The MACD line is attempting to climb from depressed levels, but it has yet to reach the signal line. This crossover might result in a bullish signal.
The underlying trend remains bearish, as seen by the two 50- and 200-day moving averages, which formed a death-cross at the start of the month, and the descending channel that has been in place since the February’s peak.
However, if prices break through the $1,750 resistance level, the possibility of an attack on $1,800 might be opened up. On the downside, bears are targeting $1,664 (August 21’s lows) as a a key support level.
Idea written by Piero Cingari, forex and commodities analyst at Capital.com
GOLD (XAUUSD) Can Drop Lower! Your Plan: 🥇
Hey traders,
Gold broke and closed below key daily structure support this week.
The broken structure turned into a strong resistance now.
Next week, pay close attention to 1722 - 1735 area.
I will be waiting for an occasional retest of that zone and then I will be looking for a confirmation within to sell.
I believe that the next goal for sellers is 1677 - 1684 support and the market will reach that soon!
Good luck next week!
❤️If you have any questions, please, ask me in the comment section.
Please, support my work with like, thank you!❤️
Double top pattern on GoldHello traders, as you can see Gold printed a double top pattern witch is usually a reversal sign , it tells the end of a trend. However it is not good to make conclusions too quickly. The pattern is not confirmed until we see a truthfully breakout of the actual support.
The most likely thing to happen it is to hold it and bounce back again.
In conclusion:
If the price holds the support i will open a long position with target 2000$
If the price breaks down the pattern will be confirmed and i will open a short in the retest of the broken support (1700$-1680$) with target 1470$
I will be glad to see what do you think in the comments and if you agree with me push the like button.
GOLD (XAUUSD): One More Breakout! What is Next?!🥇
Gold broke a key support again.
Daily candle close below confirms a structure breakout.
The next closest structure that I see is 1677 - 1685 support.
I believe that the market will drop soon to that.
❤️If you have any questions, please, ask me in the comment section.
Please, support my work with like, thank you!❤️
GOLD IS BEARISHWhy i think this trade is cool to try out.
1. Bearish Outside Bar spotted in H4
2. Bearish Triangle Spotted in 30m tf.
3. Market Current Hourly Trend = Bearish
Set SELL LIMIT ORDER at 1707.46 and
TP at any place of your choice
GOLD long from strong support zone !BUY XAU/USD
I recommend you buy XAUUSD
The price is going to retest the main support zone at 1700. I expect a false break or double bottom and may be growth from support. My goal is resistance 1725.
1700 - 1705 Local BottomGold has ben in a continuous downtrend. which consisted of 5 downward impulsive waves. It is yet to be decided rather the impulsive waves are Elliot Impulses or Extending Diagonals. In case it is Elliot impulse waves, 1700 - 1705 is the region from where we should see a bounce which is the range of 100% extension of wave 1. In case we go lower, then it can be assumed that the impulsive waves of Extending Diagonals in which case we can see Gold anywhere below 1667$ which is the level of 100% extension of wave 3.
XAUNot financial advice.
The essence of investing & trading is the intelligent and patient preying on the greed, fear, impatience, addiction and ignorance of the majority. It's definitionally Darwinian.
Golds Run Is OverThere are a lot of predictions regarding gold and how it's going to start its bullrun and a move to 5000 in the next 1-5 years but I really don't see it that way.
In this 6 month candle chart you can see that in the next 7days we will be closing and confirming what seems to be a potential "Gravestone Doji" signalling a trend reversal .
Also we are inside a massive ascending wedge which is a bearish pattern and we have been in the monster 22 year run which hit 2.618 . So how far is gold going to realistically run? with the 4.236 extension not that far off.
I just don't see it in the charts for gold. My bet is gold breaks down from here and goes back to 1.618 for a couple of years after its mega 22 year run like it did after the blow off top of 1980.
It's 2022 not the year 2000, investors in this time period are leaning towards cryptocurrency more than gold , nobody has time for gold , silver on the other hand is looking a lot better.
Gold Spot / U.S. Dollar Short TermThe chart is in the falling wedge. The price is decreasing bearishly. RSI is oversold, however we expect the price to retest major support level anyway which will be an entry for a long position.
Target: 1738.13
Entry: 1680.25
GOLD (XAUUSD): Key Levels to Watch This Week 🥇
Hey traders,
Here is my latest structure analysis for Gold.
Support 1: 1721.0 - 1726.0 area
Support 2: 1677.0 - 1683.0 area
Resistance 1: 1753.0 - 1768.0 area
Resistance 2: 1780.0 - 1808.0 area
As you can see, the market is currently trading on Support 1.
I am waiting for a confirmation to buy to catch a pullback from that.
Alternatively, its bearish breakout will trigger a bearish continuation.
❤️If you have any questions, please, ask me in the comment section.
Please, support my work with like, thank you!❤️
Bitcoin support resistance in gold terms.There is confluence with the idea that we could see BTCUSD visit $16K levels (twitter). If that is the case, I would say high 16s would be the target. Possibly with a longer and fast wick mid 16s are plausible. But anything slower would breach the 300gr level ($16.6K at the moment) which would let the next level come into play. That is the 200gr level ($11K at the moment).
When looking at this idea, the mentioned USD levels aren't important remember those fluctuate as the price of gold changes. So, we would be looking for the $16k and $11k support levels to shift upwards or downwards.
Gold Trend 14/07Gold rallied from a renewed 9-month low yesterday. The day began below 1730 at 1725, and the price stayed between 1720-30 before the US session throughout the day. Once the US released its inflation figures, the price dropped to the day-low at 1706 but buying quickly entered the market. The day ended at 1734, with the day-high reaching 1743.
Althought gold touched a new 9-month low, the gradual downward slope on the 1-hour chart that has been trending in the past few trading days came to an end after the rebound yesterday. The buying above 1740 is still relatively weak; we can expect the price to be bounded by 1720-40 until the price can stand above 1740 comfortably to kick start the next uptrend.
The first reversal signal finally appeared after the price touched the bottom of the downtrend channel(4) yesterday. The price defended the 1730-1800(3) range yesterday. For gold to start a decent rebound, it must close above 1740 on the daily chart in the next few trading days.
S-T Resistances:
1755
1750
1740
Market price: 1731
S-T Supprots:
1730
1720
1712-15
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Gold Trend 12/07 - 15/07Gold bounded in a tight range yesterday. The trading started at 1741. The price has continued to sink toward the day-low at 1731 throughout the day. The day ended at 1733, traded in a USD 13 range.
Since the rapid drop slowed down last Thursday, the price has settled between 1730-50(1) in the previous 48 hours. If the price clears the support at 1730, the downside target remains at the 1700-10 support zone.
A reversal signal has yet to appear on the daily chart; therefore, the downtrend channel(4) is still dominating the trend. If the price breaches the 1730 support, the daily chart's downside target will be at 1680.
S-T Resistances:
1755
1750
1740
Market price: 1731
S-T Supports:
1730
1720
1712-15
If you like our work, kindly give our team a thumbs up. Feel free to leave a comment; let us know what you think!
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GOLD SHORT (340 PIPS)Gold was trading below $1733 until acted upon by the CPI data, still confident in Gold Short. New low for this year $1700!!!
Gold Sharply above 21-EMATechnical:
The near–term support is around $1707, a breach below targets $1700
The yellow metal faces minor resistance around $1745, any breach above will take it to the next level of $1780/$1800.
GOLD (XAUUSD): Strong Support Reached! What is Next? 🥇
Weekly update for Gold.
In this video, we will execute a top-down analysis on gold
and we will discuss what to expect this week.
❤️Please, support this video with like and comment!❤️
Gold Trend 13/07Gold hit a new 9-month low yesterday. The day began at 1733; the price briefly touched the day-low at 1722 and the day-high at 1744 early in the Asian session. Throughout the trading day, the price has bounded by 1725-35, with the day ending at 1725.
The price has tangled around the critical support of 1730 in the past 72; the trading atmosphere is like when the price tested the support at 1820(1) a while back without a clear breakthrough. The price finally passed the 1730 barrier yesterday; technically, we can expect the price to sink further in the next 48 hours. But, one thing bore in mind: the US will release its CPI figures today. Previously on the day(June 10th), as the US released worse than expected CPI figures, gold climbed more than USD 20 with a daily fluctuation of more than USD 50. 1710-00 remains the downside target for now, where prepare for a rapid price change at the time of the release of the figures.
The overall pattern hasn't changed much on the daily chart; the downtrend channel(4) is still dominating the structure on the daily chart, be patient for a reversal signal. After the price clears the support at 1730, technically, we can expect a new low in the next two days.
S-T Resistances:
1750
1740
1730
Market price: 1726
S-T Supports:
1720
1712-15
1708
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Another buy limit on gold with 10x riward ratioAnother buy limit on gold with 10x riward ratio. An upward movement expected
Selling gold. Buy BTCHello . The value of BTC is increasing compared to gold (just to know the trend)
