Golddollar
XAUUSD Long towards 1849/1898 levels.4hr - Bullish Hammer Candlestick indicating next candle to be bullish.
1hr - Bullish Hammer Candlestick is also seen, Also, Ascending Triangle also seen.
Price heading towards support/resistance 1849 - 1898
Buy Stop placed at 1838.
Stop Loss at 1825
Take Profit 1 at 1849 and Take Profit 2 at 1898.
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Price Action On Gold/USDToday we had a bullish close on Gold, however,... based on the weekly chart momentum is slightly bearish. We're anticipating a strong move in either direction. So here's how we anticipate whether to go long or short.
📈Long: Price moves down to 1776.xx (marked on the chart) in the first few hours of the trading session. (setting a low of the day)
📉Short: Price moves up to our entry in the first few hours of the trading session. (setting a high of the day)
...and that's it!
Happy Trading folks!
Cheers!
GOLD - A Bearish Channel! 👀Resistance @ 1805 level held pretty nicely, no candle close above it on the daily, even on the 4hr chart. This means if we don't see a retest of that resistance level, then this move lower would be an impulse move for a new low. However, if we get a move back up to 1805, then more than likely we would see Gold heading to the top of the bearish channel. 😎
Happy Trading folks!
Cheers!
Gold Spot / U.S. Dollar long term Risk-off sentiment making a comeback? StoneX cites 'early indications' of gold price turnaround
Risk-off sentiment might be making a comeback in the second quarter, with "early indications" of a price turnaround for gold, according to StoneX.
"After gold's performance in the first quarter of this year, when it posted its first quarterly decline since the September quarter of 2018, the price looks as if it is basing out," said Rhona O'Connell, head of market analysis for EMEA and Asia regions at StoneX.
For most of the first quarter, gold fell along with the U.S. 10-year Treasury bonds due to the market's perceived inflationary risk. However, this trend seems to be changing in the second quarter, which means potential price reversal for the precious metal.
"It would seem now that attitudes are changing slightly, with the ten-year bond rate easing, which is helping gold to stabilize," wrote O'Connell. "Whether this is a technical correction or a growing belief that the U.S. bond market has taken too much of a beating because there is still a long way to go, remains to be seen."
The Federal Reserve keeps reiterating that it is not planning on raising rates any time soon, and markets might be starting to believe that promise, which could trigger a more risk-off environment, O'Connell pointed out.
"In the background, the physical market in Asia has been picking up smartly, notably in China, with the local prices now at a premium of roughly $9/ounce over loco London," she said on Monday. "Elsewhere, the Perth Mint reports very strong sales of gold and silver coins in the first quarter, especially in Germany and the United States; gold demand thrived, and the Mint could not keep pace with silver coin demand. In March, the Mint sold over 130,000 ounces of gold and almost 1.6M troy ounces of silver in minted product form."
Another price-positive trigger is that the central banks have once again started to buy gold. For example, Hungary's central bank raised its gold reserves to 94.5 metric tons from 31.5 tons, citing "long-term national and economic policy strategy objectives."
From a technical perspective, gold's support remains around the 10-day and the 20-day moving averages at $1,730 and $1,732 an ounce. Resistance is still at the 50-day moving average of $1,757 an ounce.
O'Connell said if gold can move past that resistance line, prices could be looking at the $1,820 an ounce target. "There are early indications that the price may be starting to turn around."
Last week, gold failed to clear the $1,750 an ounce level, which could undermine sentiment, she noted.
This week, markets are closely eyeing the Treasury auctions in the U.S., latest inflation figures, and Federal Reserve Chair Jerome Powell's comments at the Economic Club of Washington on Wednesday. Monday saw the sale of $58 billion of three-year notes and $38 billion of 10-year bonds. Tuesday will see the sale of 30-year debt.
is GOLD coming ??As can be seen in the graph, Gold seems to form an upside-down Shoulder-Head-Shoulders formation over a very wide time interval. In such a case, if the $ 1670 levels, which it has been recently supported, will form the Right Shoulder, we can see the first target of $ 2180 and then the target will be $ 3000 because of the formation target.
However, as a counter to the above scenario, prices must first break the downward trend, if not, we can see a retracement to one of the strongest horizontal resistances of $ 1400 .
It contains only personal views and opinions. Does not contain legal investment advice ...
Retest for the continuing bearish trend or a bullish breakoutHi,
A technical analysis about GOLD price... If it will continue to fall or finally can make a breakout?
I think we are going to know it anytime soon.
I'll be on the bullish side if the price manages to break above the key level marked with the gray area (nearly 1750 USD). In that case I think prices will follow a path similar with the green bars pattern shown on the graph.
And if the prices cannot break the key level than this means a confirmation for continuing the bearish trend. Than I think the scenario shown with the red bars patterns comes true.
I share below the weekly view to show the fibo levels by the way.
XAU/USD GOLD Forecast: longHere is what to expect on Gold
RECAP: (Previous Analysis)
In our previous analysis the pair was trading at $1702
We expected a reversal at this point to the upside
& cautioned that if the pair broke below this level it would most likely
go back to the $1680 level.
Hopefully the pair did reverse back to the upside, triggering our Buy Stop
@ $1720 & also hitting our TP @ $1730 enabling us to bank 100 pips on the pair
WHAT TO EXPECT:
Currently trading @ $1730
Inverse head & Shoulders pattern on 1H chart
We are still bullish on the pair & we still expect gold to test $1760
hopefully this week.
This will be confirm if pair breaks above current downtrend trendline & also minor
resistance at $1740
On the other hand if the pair falls below $1700 we might see it test
previous lows of $1680
OUR POSITIONS:
Buy Stop @: $1740
Buy Stop TP @: $1750
Sell Stop @: $1695
Sell Stop TP @: $1685
Link to previous analysis below
Note: All investments involve risk, our analysis and trading strategy does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make.
XAU/USD UPDATE: LongHere is an update on the pair
RECAP:
In our previous analysis gold was trading at $1694
We were bullish on the pair and expected the pair to break above $1710
and test resistance at $1750
The pair did break above $1710 & was limited @ $1720 before a reversal to the $1710 level
The pair triggered our Buy Stop @ $1710 which we banked @ $1720 after the formation of a
bearish harmonic pattern @ $1720
We had other two active trades(posted on our group) on this pair which all closed at $1720
banking us a total of 700 pips on the pair
WHAT TO EXPECT:
Currently at $1710
We are still bullish on the pair and are still aiming for our $1740 TP target
We have opened another buy order on the pair at this current level
Bearish harmonic pattern shows that the pair might be short term bearish
but seems limited @ $1708-$1705
Keep an eye on US10Y & DXY
OUR POSITIONS:
Buy Stop @: $1720
Buy Stop TP@: $1730
Sell Stop @: $1695
Sell Stop TP @: $1685
Link to previous analysis below
Note: All investments involve risk, our analysis and trading strategy does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make.
XAU/USD GOLD Forecast: LongHere is what to expect on Gold
RECAP:
In our previous analysis the pair was trading @ $1694
We expected the pair to be bullish but did caution that the pair might attempt to touch June 2020 support level
& this is what happened.
None of our positions were triggered which we posted in our previous analysis
but we entered longs/buys around the support level @ $1680 which we posted on our signal group
WHAT TO EXPECT:
Currently @ $1697
We expect the pair to continue its uptrend and try to test support/resistance @ $1750
The pair has to break above the descending triangle to confirm this
The pair is currently forming a bullish harmonic trend on the 1D chart
will post this shortly
OUR POSITIONS:
Currently in an active buy
Buy Stop @: $1710
Buy Stop TP @: $1740
No Sell Stop positions have been opened
link to our previous analysis below
Note: All investments involve risk, our analysis and trading strategy does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make.
Inflation Correlation: Gold vs. DXY InsightsAbove is an attempt to solve the age-old question of whether or not inflation exists, and, if it does, how much of it is floating around in today's environment?
I like gold because it makes a market that is purely free from exogenous intervention. You can be sure that the changes in the spot price of Gold are reflective of either one or two things:
1) society's demand (typically, lack thereof) for government intervention
2) accounting of monetary supply
But, what I would like to understand is which one of these factors is driving up the price of gold during any given rally. In the chart above, I created a "real-demand" gold price line (orange) that equates as follows: Gold_realdemand = Gold.spot * (100/DXY). Essentially what this does is drown out the effect that changes in the dollar index have on the changes in gold's spot price. The purpose of doing this is not to present a standalone, transformed data series; the orange line in and of itself is only insightful when compared with the normal spot price of gold.
That is, when the slopes of each data series diverge, that is when you can see the relative changes in actual demand.
For example, both major gold rallies depicted in the chart above (white arrow, purple arrow) are actually showing the same thing; gold spot increased because of quantitative easing of some kind. Even if there is a clear margin between the two rising graphs, that does not imply a change in actual demand for gold. Rather, the difference between these would theoretically be "inflation" under this experiment.
Thus, it is better to investigate the downward, bearish periods where divergence occurs in order to get a feel for actual demand in physical gold.
Why?
Because there is never a time when the FED has decreased the money supply, as far as my understanding of the past 10 years goes.
Anyway, just thought this might be an interesting finding given the latest excitement over interest rates.
-GoldDollahPig
TVC:GOLD
OANDA:XAUUSD
TVC:DXY
LSE:XG7U
TVC:XAU
XAU/USD Forecast: Short then longHere is our analysis on XAU/USD
RECAP:
In our previous analysis Gold was trading at $1810
We expected the pair to be bearish & trade back in the $1790-$1780 range
and that's exactly what the pair did.
The pair hit lows of $1783 triggering our Sell Stop at $1800 and hitting TP at $1790
enabling us to bank 200 pips on Gold
WHAT TO EXPECT:
Currently Gold is trading at $1793
Gold is still bullish long term, but short term we expect it to be bearish
We expect gold to touch that $1780-$1760 level before a bullish reversal
US10Y is currently limiting gold's bullish momentum.
If gold manages to break above strong resistance at $1815 we expect it to test next resistance at $1830
OUR POSITIONS:
Currently at $1792
Buy Stop @: $1820
Buy Stop TP @: $1830
Sell Stop @: $1780
Sell Stop TP @: $1770
Link to our previous analysis below
Note: All investments involve risk, our analysis and trading strategy does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make.
XAU/USD Forecast: ShortHere is what tp expect on Gold
RECAP:
In our previous analysis Gold was trading at $1786
We expected the pair to be range bound between $1790-$1765
The pair did dip below the $1765 mark before going back to $1770 zone
Yesterday the pair managed to break above $1790 and triggered our buy stop at $1795 and hitting our TP at $1805
which we set in our previous analysis, banking 200 pips on Gold
WHAT TO EXPECT:
Currently at $1813
Gold is currently trading at support/resistance
Bearish harmonic pattern formed on the 1H chart (formation might extend)
COT report showed -5k longs closed & +10k shorts opened on Gold last week
So gold, might still be bearish
If the pair struggles to break above current support/resistance we expect the pair to go back to $1790-$1760
On the other hand if the pair breaks above current support/resistance we expect it to test next resistance at $1830
OUR POSITIONS:
Currently at $1813
Buy Stop @: $1820
Buy Stop TP @: $1830
Buy Stop TP 2 @: $1850
Sell Stop @: $1800
Sell Stop TP @: $1790
Sell Stop TP 2 @: $1780
Link to previous analysis below
Note: All investments involve risk, our analysis and trading strategy does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make.
💡GOLD (XAUUSD) - Weekly Technical Analysis UpdateMidterm forecast:
While the price is above the support 1762.05, resumption of uptrend is expected.
We make sure when the resistance at 1875.15 breaks.
If the support at 1762.05 is broken, the short-term forecast -resumption of uptrend- will be invalid.
Technical analysis:
While the RSI downtrend #1 is not broken, bearish wave in price would continue.
A peak is formed in daily chart at 1855.50 on 02/10/2021, so more losses minimum to Major Support (1762.05) is expected.
Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
Relative strength index (RSI) is 37.
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💡GOLD (XAUUSD) - Weekly Technical Analysis UpdateMidterm forecast:
While the price is above the support 1762.05, resumption of uptrend is expected.
We make sure when the resistance at 1875.15 breaks.
If the support at 1762.05 is broken, the short-term forecast -resumption of uptrend- will be invalid.
Technical analysis:
While the RSI downtrend #1 is not broken, bearish wave in price would continue.
A peak is formed in daily chart at 1855.50 on 02/10/2021, so more losses minimum to Major Support (1762.05) is expected.
Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
Relative strength index (RSI) is 37.
❤️ If you find this helpful and want more FREE forecasts in TradingView
. . . . . Please show your support back,
. . . . . . . . Hit the 👍 LIKE button,
. . . . . . . . . . Drop some feedback below in the comment!
❤️ Your Support is very much 🙏 appreciated! ❤️
💎 Want us to help you become a better Forex trader ?
Now, It's your turn !
Be sure to leave a comment let us know how you see this opportunity and forecast.
Trade well, ❤️
ForecastCity English Support Team ❤️