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Gold starts 2023 with a new breakout. Welcome to 2023 traders. We hope everyone had a lovely holiday period. On the first trading day of the year, gold buyers are setting the tone with a new breakout and setting up a new trend continuation. Risk markets continue to trade mixed with some gains on stock futures while major risk currencies are trading lower to the USD and sharply lower to the Japanese Yen. Today's video analysis, we look at gold's price action so far today, its pattern break, and we look above to potential key resistance levels we are looking at. Will we see buyers continue to push today’s breakout? Could we see 1876 resistance tested in the future? Good trading, and happy 2023 to all.
EIGHTCAP:XAUUSDLong
by Eightcap
1
XAUUSD 5/10/2022Price currently facing short tf resistance at 1714.35 & support at 1703.60. now if price makes a break & close above the resistance, then it might continue pushing up to retest the previous high at 1727.63 or all the way up to retest the higher tf key zone at 1744.43. And If price makes a breakout of the previous low or recent support at 1703.60, then it continue pushing down to retest the next support zone at 1693.69 or all the way down to retest the high tf key level at 1675.86.
FX_IDC:XAUUSD
by mightybullcapital
XAUUSD 20/09/2022Price facing recent support at 1667.16 while retesting the uptrendline & also price facing resistance at 1679.46. so if price break & closes above the resistance while respecting the support & uptrendline then price might continue to come up to the next resistance at 1691.67. However if price breaks out of the support, that would also be a breakout of the uptrend which could lead price to come all the down to retest the key level at 1659.55 or retest the previous week low at 1653.85
FX_IDC:XAUUSD
by mightybullcapital
XAUUSD 19/09/2022So gold currently moving in a downtrend channel & also formed a small timeframe structure while facing recent resistance at 1671.26 & support at 1653.99. now if price respects the resistance & breaks out of the support at 1653.99 then price might continue to push down to retest the next HTF support at 1644. 40 while still moving in respect to the downtrend. However if price breaks & closes above the resistance at 1671.26 then gold could breakout of the downtrend channel & might continue to push up to the next resistance zone 1679.89 again as a retracement.
FX_IDC:XAUUSD
by mightybullcapital
XAUUSD 15/09/2022Price retesting a major support zone on HTF at 1680.50 & also facing recent resistance at 1690.93 while moving in a downtrend. now if price respects the recent resistance and breaks & closes below the major support zone then gold could continue pushing down creating new lower low. However if gold respects the support and makes a breakout of the resistance then price could continue pushing up to next resistance at 1697.82 or all the way to 1706.66 as a retracement move.
FX_IDC:XAUUSD
by mightybullcapital
XAUUSD 14/09/2022Gold after the bearish engulfing move from yesterday, formed a bit of structure with a recent resistance at 1708.53 & support at 1696.67. now we are looking for trades on the breakout of the structure. so if price respects the recent resistance & makes a breakout of the support at 1696.67 then price continue pushing down to next major support zone at 1681.93. similarly if price respects the support and makes a break & close above the resistance on 30 min tf then price might continue pushing up to the next resistance at 1719.63.
FX_IDC:XAUUSD
by mightybullcapital
#Gold - Possible pullbackHi guys! 👋🏻 🔔 Gold has retested the dynamic support of August 21 (dashed line) and is now forming a wedge pattern. 🔔 There are multiple strong resistances which obstacle XAUUSD from going higher, such are 1942 and 1960. 🔔 But as it seem from the current setup, if #Gold remains above this support, it will most likely break those resistances and climb back to 2000. 🔔 MACD and RSI are bullish as well. ✊🏻 Good luck with your trades! ✊🏻 If you like the idea hit the 👍🏻 button, follow me for more ideas.
OANDA:XAUUSD
by azizelliott
2