Get started
Gold Spot / U.S. Dollar
Short

Gold Weekly Outlook

By eskgroup
Updated
Instructions on the map.

Safe Trading :o|
Comment
The inner TL is broken and retested on smaller frames. Expecting price to reach blue horizontal support (or bottom of weekly range).
snapshot
Comment
4hr TF. 1231s have strong support. Weekly MA200 at 1236s.
snapshot
Comment
Inner TL broken, tested and finally reach target of 1210s/1214s. Added some small longs at this level trying to catch a bounce up to DMA20.

DXY pennant is working as planned so far and it too reached our resistance. Probability of breaking the pennant is high. Risk maintained.
snapshot
Comment
So far so good...
Short-term anticipated move in #DXY
Comment
DXY is breaking out of the rising wedge (possibly due to Turkish Headlines). Weekly close in both DXY and Gold will be important. Gold weekly being holding above 1208/06 support. Longs are possible for next couple of weeks (till closer to September hike date). See Gold Daily and Weekly chart below (updated).
Comment
snapshot
Comment
snapshot
Comment
snapshot Confirmation for XAU bull? Correlation not very strong these days...however, we cannot ignore UJ - keep an eye..
Beyond Technical AnalysisChart PatternsForexGoldTrend AnalysisUSD

Related publications

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.