XAUUSD Detailed Analysis
XAUUSD 1D Graphics
Hi folks,
🔺Since the bottom at $1628 (November 2022, DXY peak), the direction in Gold (XAU/USD) has been upward, similar to other risk assets.
🔺There is a very orderly rising regression channel. As long as it stays within the channel, the direction is upward, and we may eventually see $2164.
🔺At the moment, $1945 (MA50) is appearing as a technically critical resistance.
🔺Roughly the range of $1890 - $1900 is a CRITICAL SUPPORT that should not be lost for the continuation of the upward movement.
🔺The $1890 - $1900 region is significant because it serves as both MA200 and fib 0.618 support, as well as regression remainder support.
🔺The RSI is currently trading in a bearish zone with 45 points (50 pivot). If the selling pressure continues, we may see a retest of the $1900 - $1910 region.
🔺The upcoming inflation and employment data from the US will be critical. It may lead to sideways movement until the September FED meeting.
Stay safe and rich :)
Hi folks,
🔺Since the bottom at $1628 (November 2022, DXY peak), the direction in Gold (XAU/USD) has been upward, similar to other risk assets.
🔺There is a very orderly rising regression channel. As long as it stays within the channel, the direction is upward, and we may eventually see $2164.
🔺At the moment, $1945 (MA50) is appearing as a technically critical resistance.
🔺Roughly the range of $1890 - $1900 is a CRITICAL SUPPORT that should not be lost for the continuation of the upward movement.
🔺The $1890 - $1900 region is significant because it serves as both MA200 and fib 0.618 support, as well as regression remainder support.
🔺The RSI is currently trading in a bearish zone with 45 points (50 pivot). If the selling pressure continues, we may see a retest of the $1900 - $1910 region.
🔺The upcoming inflation and employment data from the US will be critical. It may lead to sideways movement until the September FED meeting.
Stay safe and rich :)
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