XAUUSD as Middle East news is saturated
GOLD TREND ANALYSIS September 24, 2023
Gold has a slight decline although yesterday`s DXY index fell quite strongly, but it did not cause gold to be supported but only maintained in the 73-79 area. However, it still hasn't really broken through the 73 zone. This morning, DXY is still under pressure and gold has leveled off. There is a possibility of going sideways if the gold in this screen can recover at least to the 76 zone. If not, the possibility of a break to the 65 or 55 zone, which is the support of H1 and H4, is possible. ☝️☝️Trading Plan: Buy, and the best is to buy
✅ Support 1: 1966-1963, after serious setbacks, he was re-established on October 22nd and 23rd. This area is thin, but if the candlesticks stabilize, we may be waiting for a reversal. Move Sl carefully to avoid the false candles in this area. ✅Support 2: 1955-1952 is dynamic and static support on H4 frame. I'm very interested in this area and I'm keeping an eye on it because the potential for a response is very high. ✅Support 3: 1932-1929 is support on the D1 frame but I only mentioned it in case PMI can pressure gold down. And if in the stabilization phase you don't believe in the technical wave, the highest possibility is to reach support 2. 👉👉Resistance to note:
✅1979-1982: The only hard resistance yesterday October 23
✅Resistance 1995-1999: Highest internal resistance in the current short-term period. ✅Everyone should note that the market is still tense with no signs of cooling down, so you need to be careful in slow periods waiting for news or new trends. WISH EVERYONE A PROSPER TRADING!
Gold has a slight decline although yesterday`s DXY index fell quite strongly, but it did not cause gold to be supported but only maintained in the 73-79 area. However, it still hasn't really broken through the 73 zone. This morning, DXY is still under pressure and gold has leveled off. There is a possibility of going sideways if the gold in this screen can recover at least to the 76 zone. If not, the possibility of a break to the 65 or 55 zone, which is the support of H1 and H4, is possible. ☝️☝️Trading Plan: Buy, and the best is to buy
✅ Support 1: 1966-1963, after serious setbacks, he was re-established on October 22nd and 23rd. This area is thin, but if the candlesticks stabilize, we may be waiting for a reversal. Move Sl carefully to avoid the false candles in this area. ✅Support 2: 1955-1952 is dynamic and static support on H4 frame. I'm very interested in this area and I'm keeping an eye on it because the potential for a response is very high. ✅Support 3: 1932-1929 is support on the D1 frame but I only mentioned it in case PMI can pressure gold down. And if in the stabilization phase you don't believe in the technical wave, the highest possibility is to reach support 2. 👉👉Resistance to note:
✅1979-1982: The only hard resistance yesterday October 23
✅Resistance 1995-1999: Highest internal resistance in the current short-term period. ✅Everyone should note that the market is still tense with no signs of cooling down, so you need to be careful in slow periods waiting for news or new trends. WISH EVERYONE A PROSPER TRADING!
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