XAUUSD : WE’RE JUST FINE
The 1,620 short-term eventually got hit (though I had my sell closed earlier) and as you see the rebound near 1,610 happened (1,615.50 on XAUUSD) and the rise was so strong and fast that we are already above the 4H MA50 again (1,648.41).
With the 1D technicals neutral (RSI # 48.141, MACD # -9.250, ADX # 21.576) the pattern remains a Channel Down since October 11 and the key as mentioned numerous times is the 4H MA200 (1,660.28).
Only a closing above it, would constitute a bullish break-out sign, cause as you see all prior Lower Highs broke it but closed below. The TP of my buy yesterday remains 1,660 and will re-buy only after a 4H MA200 break-out and target the 1D MA100 (1,719.67).
The 1D MA50 is now at 1,673.97, so keep an extra eye there, it forms the ultimate Resistance Zone with the 4H MA200. All prices mentioned on my analysis are on XAUUSD.
Notice how the DXY got rejected todayon its Lower Highs trend-line since September 28.
What's keeping Gold from exploding above the 1D MA50 currently is the rising US10Y.
Anyway, it's been a volatile but profitable week amidst the Fed Decision, I hope you enjoyed the trades. Have a good weekend.
With the 1D technicals neutral (RSI # 48.141, MACD # -9.250, ADX # 21.576) the pattern remains a Channel Down since October 11 and the key as mentioned numerous times is the 4H MA200 (1,660.28).
Only a closing above it, would constitute a bullish break-out sign, cause as you see all prior Lower Highs broke it but closed below. The TP of my buy yesterday remains 1,660 and will re-buy only after a 4H MA200 break-out and target the 1D MA100 (1,719.67).
The 1D MA50 is now at 1,673.97, so keep an extra eye there, it forms the ultimate Resistance Zone with the 4H MA200. All prices mentioned on my analysis are on XAUUSD.
Notice how the DXY got rejected todayon its Lower Highs trend-line since September 28.
What's keeping Gold from exploding above the 1D MA50 currently is the rising US10Y.
Anyway, it's been a volatile but profitable week amidst the Fed Decision, I hope you enjoyed the trades. Have a good weekend.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.