Gold price analysis November 21, 2023
Updated
XAUUSD recovered from support at 1930 - 1932 and closed above both EMAs, where EMA21 remains above EMA78, with the gap widening
He is currently bullish with a sideways trend
MacD is about to cut the signal line above zero
At the same time, the bar chart is narrowing in the negative area
He is currently bullish with a sideways trend
MacD is about to cut the signal line above zero
At the same time, the bar chart is narrowing in the negative area
Note
XAUUSD has maintained its upward momentumPrice is approaching psychological resistance at 2000 by making a higher high and a higher low changing the structure to the upside.
If XAUUSD continues its upward momentum, the price could retest the resistance levels at 1993 and 2008
Conversely, XAUUSD could correct to around the support level at 1955 before resuming the trend.
Note
🟢 SELL XAUUSD 1990 - 1992🪙🪙🪙💲TP1 1984
💲TP2 1976
🔴 SL 1998
🟢 BUY XAUUSD 1966 - 1968🪙🪙🪙
💲TP1 1984
💲TP2 1990
🔴 SL 1960
Note
Gold prices have entered the 2007 resistance zone and are tending to cool downNote
🟢 BUY XAUUSD 1995 - 1997🪙🪙🪙💲TP1 2000
💲TP2 2005
🔴 SL 1990
Note
🟢 BUY XAUUSD 1990 - 1992🪙🪙🪙💲TP1 2000
💲TP2 2005
🔴 SL 1985
Note
Gold price forecast for XAU/USD today: So far, based on the performance on the daily chart below, the price of gold (XAU/USD) remains in an upward trajectory, moving towards the psychological resistance level of $2000 per ounce. Nearby, this signifies strong and positive momentum, indicating bullish control over the trend. Simultaneously, technical indicators may approach levels saturated with buying activity if gold prices move towards the resistance levels of $2015 and $2027 respectively. However, if the price of gold falls below the support level of $1970, it poses a threat to the current bullish trend. Overall, today's gold price will be influenced by the level of the U.S. dollar following the announcement of the minutes from the recent Federal Reserve meeting and the release of U.S. economic data ahead of Thursday's holiday. Moreover, this includes key announcements such as weekly jobless claims, durable goods orders, and the U.S. consumer confidence reading. Additionally, investor risk appetite will be a factor amid ongoing global geopolitical tensions, particularly in the Middle East.
Note
+30 Pips🟢🟢🟢
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