Gold LongsWatching gold, if I see it get back into range of 1921, Ill be looking at buys targeting that 1932 resistance. I think with the recent strength of the dollar that we could be looking at possible sells especially if 1916 breaks it opens up to 1911 more. From here I will also look at potential buy set ups.
GOLD-BUY
Golds RallyGold has risen and broke key resistance of 1911, 1916 and 1925. It seems to be holding above the 25 level.
We have key resistances at 1932, and 1938. If price breaks and holds above 32, I see it ranging between 38-32.
My trades will become valid once I have confirmed BOS.
With the recent strength in gold, I presume the bullish run will continue up to 1938.
Global downward channel, from here i'll target sells back to 1932.
Gold Potential Upsides, are we still targeting more highs?Hey Traders, XAUUSD broke an important resistance, one of the reasons for Gold outperformance is that it's considered as a safe haven commodity in time of uncertainty in the market so investors tends to buy it.
Technically we have noticed the breakout of the resistance so i will be watching a potential retrace around 1914 zone.
Trade safe, Joe.
Stand by for BUY signal on GoldStand by for BUY signal on Gold
1.790/1800
is an important area of support/resistance.
1) A breach and close above this level,
will resume the trend line and climb to 1830/40.
2) if the price can't break the 1790/1800 barrier
the trend will most likely change and retreat to 1700 levels
3) Right now, price is underpinned
by 1790 support baseline and 50 EMA.
And above the 200 EMA
4) Money flow index is in the green zone supporting Upside continuation