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Goldforecast

Gold set to break resistance; $4878 possible this year? Gold is currently approaching its next Fibonacci resistance level of $2096. Once this level is convincingly broken, the next resistance levels will be $2272 and $2463. According to my Elliott wave analysis, gold has started its third impulsive wave, which is part of a higher degree third impulsive wave. These impulsive waves are typically the most explosive and long-lasting. Therefore, we can expect an exciting spectacle in the coming months. I do not rule out a short-term price target of $4878 within a year, as this price target is based on the 1.618 Fibonacci extension of the impulse wave 1 (Dec '15 - Aug '20). Lastly, the monthly chart shows a MACD crossover, which supports my bullish expectations. This typically indicates that the price of gold is expected to continue its upward trend.
TVC:GOLDLong
by joerivdpol
HelenP. I Gold may break resistance of triangle and to riseHi folks today I'm prepared for you GOLD analytics. After the creation of the support zone 1805-1805 last month, the price began to move in an upward local trend. Gold broke through resistance at the level 1895 and after a retest of the current support level, the price continued to rise. The price reached the resistance level 2010, bounce back and fell to the support zone 1950-1935. After some time, the price created a descending triangle and is now traded in the inside of it. Recently, the price re-tested the support zone of the triangle and continued to rise. Now the price is trading below the resistance level of the triangle and can continue moving, break through it and fixed in higher. It seems to me that after breakdown the resistance of the triangle, the price may continue to rise. Consequently, the targets will be set at level 1985 which coincide with resistance of triangle and at level 2010. If you like my analytics you can support me with your like/comment ❤️
TVC:GOLDLong
by FirstNameHelen
10
A Profitable Gold Trading Strategy Gold has reached the TP line near 1986 today, and long positions around 1975 have gained a complete victory! Currently, the candlestick is oscillating near 1978, with a small support at 1974 below, followed by 1963. A simple breakthrough provides an opportunity for us to go long, but if the body falls below, the nature changes and the support becomes resistance, making it difficult for bulls to achieve higher targets. The area near 1974 is currently the key focus. As long as it doesn't break, the bulls remain in a strong position. If it quickly falls below, it also provides an opportunity for a rebound. In the case of a slow decline, it is difficult to quickly determine the direction. The short opportunity point is near 1994-2000, and the long opportunity point is near 1963-1966. Both positions provide highly profitable opportunities once reached. For the 1974-1986 range, as long as it doesn't break through unidirectionally, the trading strategy is still buying low and selling high. If you are trading gold, crude oil, bitcoin, and forex, please follow me and become my friend. I will provide you with the most suitable trading strategies from the most professional perspective!
FOREXCOM:XAUUSD
by EagleEyeStrategy
XAUUSD ForecastBased on the information provided, the gold price has been rallying due to fears of a global banking crisis, fueled by the Credit Suisse scandal. Although the situation has calmed down for now, the trust in banks has been severely damaged. There are two possible scenarios for gold price moving forward, with the bullish scenario represented by the blue line and the bearish scenario represented by the red line. Based on the information provided, it seems that the bullish scenario is more likely. One of the reasons for this is that despite hitting the significant sell-off area around $2000, we have not seen a significant pullback in the gold price. This suggests that buyers are still interested in gold and are willing to buy at these higher levels. Furthermore, the damage to trust in banks may continue to support the gold price as investors seek safe-haven assets. However, it is important to note that market conditions can change quickly, and the bearish scenario should not be discounted entirely. Traders should continue to monitor the gold price closely and look for signs of a reversal, particularly if the price starts to break below key support levels. In conclusion, the gold price has been rallying due to fears of a global banking crisis, and there are two possible scenarios for its future movement. While the bullish scenario seems more likely based on current market conditions, traders should be prepared for potential changes and adjust their trading strategies accordingly.
PEPPERSTONE:XAUUSD
by TradeConfirmed
Gold: short, target 1920 Gold fluctuated in the box today, and the volatility was significantly lower than last week and the beginning of this week. At present, it is the digestion stage after the sharp drop. If it can rise and break through the box, there is a high probability that it can touch the resistance near 1957-1961. However, judging from the current situation, the possibility of a breakthrough is unlikely, but the probability of falling below the 1933 support level of the box is relatively high. Therefore, in terms of trading strategy, I think shorting gold has a higher probability of profit. If you have sufficient funds, you can set the targets at 1928, 1923, and 1915 respectively.
FXOPEN:XAUUSDShort
by triumphing