Gold Spot / U.S. DollarUpdated Gold forecast with key levels for the coming week
Gold forecast with key levels for the coming week
What a week on gold we started at 2333 before rising to 2386 and finding support at 2284 a 1200 pip move over 1 day.
So for the coming week what can we expect ?, I follow key levels and mark these up on my chart and wait for these levels
So on the upside ill look to enter a buy at 2298 , expecting 2304 (high resistance), if broken next level 2308 to 2310 (next resistance then 2314 to 2316 level also resistance if broken next key level is 2328 to 2330 then 2340 to 2350 (very high resistance ) if this breaks trade gold as bullish and we have a real chance of getting to 2371 to 2384 and finally 2400.
I have given the levels for the upside to 2400 but in reality I do not think we will get there this week.
On the downside ill enter a sell at 2284 expecting 2272 and if broken 2260, next resistance at 2252 then expect 2240 (as always high resistance here )then 2220 and 2197, if 2197 is taken next level I have is 2150, 2118.
In Asian trading session I think there’s a possibility of reaching 2318 area before falling , I think overall at least for the start of the week we going bearish , hope everyone has a great week ahead , trade with a stop loss and don’t over leverage that’s the key to staying in this game .
What a week on gold we started at 2333 before rising to 2386 and finding support at 2284 a 1200 pip move over 1 day.
So for the coming week what can we expect ?, I follow key levels and mark these up on my chart and wait for these levels
So on the upside ill look to enter a buy at 2298 , expecting 2304 (high resistance), if broken next level 2308 to 2310 (next resistance then 2314 to 2316 level also resistance if broken next key level is 2328 to 2330 then 2340 to 2350 (very high resistance ) if this breaks trade gold as bullish and we have a real chance of getting to 2371 to 2384 and finally 2400.
I have given the levels for the upside to 2400 but in reality I do not think we will get there this week.
On the downside ill enter a sell at 2284 expecting 2272 and if broken 2260, next resistance at 2252 then expect 2240 (as always high resistance here )then 2220 and 2197, if 2197 is taken next level I have is 2150, 2118.
In Asian trading session I think there’s a possibility of reaching 2318 area before falling , I think overall at least for the start of the week we going bearish , hope everyone has a great week ahead , trade with a stop loss and don’t over leverage that’s the key to staying in this game .
Trade active
420 pips on the buy level plus 420 pips on the sell , Gold following technicals really well this week hope someone caught some pips
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