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Forex-gold

Weekly Momentum On Major Pairs (Week 47/2023) First Thing First: This analysis is for “general overview only” as it is solely based on price action. That’s why it is called momentum analysis in the first place. Support/Resistant, Volume Macro view nor any other factors are not used during write up. Refer to the individual pair analysis for a more comprehensive write up. XXX/USD: Very Bullish Gold & Silver: Very Bullish XXX/JPY: Very Bullish Stock Indexes: Very Bullish BitCoin/ETH : Neutral/Slightly Bearish WK 46 (11 Nov 2023)
by SonicDeejay
Weekly Momentum On Major Pairs (Week 46/2023)First Thing First: This analysis is for “general overview only” as it is solely based on price action. That’s why it is called momentum analysis in the first place. Support/Resistant, Volume Macro view nor any other factors are not used during write up. Refer to the individual pair analysis for a more comprehensive write up. XXX/USD: Slightly Bearish Gold & Silver: Very Bearish XXX/JPY: Mixed Stock Indexes: Mixed BitCoin/ETH : Very Bullish WK 46 (11 Nov 2023)
by SonicDeejay
Gold recovers slowly but has not disappeared ?Hello dear friends! Just like yesterday, gold experienced strong fluctuations after the evening news and quickly returned to the previous trading level around $1987, with little change compared to the same time yesterday. Gold prices are seeking support from the weak performance of the US Dollar and the low interest rates of the US Treasury bonds as they attempt to stabilize after significant losses caused by the uncertain policies of the Federal Reserve. On the 4-hour analysis chart: Although gold is still limited below $2000, the long-term upward trend is still strongly supported. The strong support level at $1977 continues to serve as a good support for this precious metal. If the recovery of gold prices gains momentum, an immediate resistance level will be seen at the highest point on Wednesday, which is $1993, and above that, the $2000 level will be retested. Acceptance above the multi-month high of $2009 is crucial for a recovery towards the highest levels seen in May near $2020. What about you? Do you think gold will continue to rise? Or are you hoping for a decrease in gold prices?
OANDA:XAUUSD
by Karina_Bella
3
Gold price at the end of the transaction: Can reach 2000 USD ?Hello dear friends, On the last trading day of this week, do you think the price of gold could reach $2000? Let's explore the gold market together with Karina! Yesterday, the price of gold approached the $2000 level but still lacked the momentum to surpass this resistance. Evidence shows that gold has been consistently moving sideways within a narrow range around $1880 on the 1-hour chart. Today, gold continues to maintain an upward trend and is trading at $1988, up 0.16% for the day. It can be seen that the Bollinger Bands are maintaining a stable trend without any signs of contraction or expansion. Therefore, it is likely that gold will continue to trade calmly within a range of approximately $1993 - $1980. Regarding prospects: A breakthrough above the resistance level of $1995 could potentially push the price of gold higher, but it may be necessary to wait until the end of the day. Thank you for your interest in this article and good luck!
OANDA:XAUUSD
by Karina_Bella
9
Great trading strategy for gold price today!Hello dear friends! The price of gold is continuing to approach the $2000 mark today, with the precious metal currently trading at $1991, marking an increase of nearly $12 for the day. However, the psychological barrier of $2000 still remains a strong resistance level. Karina's trading idea is to set a sell order when gold reaches this resistance level. The short-term target for investors selling gold would be the support level at $1985, after which the upward trend is expected to continue. What about you? What are your thoughts and opinions on the price of gold?
OANDA:XAUUSD
by Karina_Bella
2
Gold sees upside risks intact, with eyes on the $2,000 markHello dear friends! Today, the gold market is relatively quiet as prices have slightly decreased, fluctuating around $1970 - $1971 per ounce. Gold is facing profit-taking pressure after a recent strong rally. Investors are taking profits as the USD shows signs of strengthening. To challenge the highest level reached on July 20th, which was $1988, buyers will need to accept a higher level. After that, their target will be the highest level in 5 months, which is $1997, surpassing the $2000 barrier. On the other hand, if sellers regain control, they will try to break the lowest level reached on October 23rd, which was $1963. Further down, the psychological level of $1950 will be tested again. The buying limit for gold is estimated to be at its lowest on October 19th, at $1945. As for the outlook for gold prices this week: We need to pay attention to the US GDP report for the third quarter, which will be released on Thursday (26th). The Personal Consumption Expenditures (PCE) index will be announced on Friday (27th), along with other economic reports, especially the speeches by European Central Bank President Lagarde and Federal Reserve Chairman Jerome Powell.
OANDA:XAUUSD
by Karina_Bella
2