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Goldforecast

Gold: can Chair Powell kill the boredom? Gold keep struggling to find comfort below 1823. Beside that the market has been choppy which is not fun to trade. And we all hoping on Fed Chair speech to be the next catalyst to kill the boredom. I see Powell,Lagarde and Bailey speech scheduled same time which means they're all be featured in one programme. I pray that that do the needful because personally I prefer their solo speech than joined. At the mean time gold is getting zoned out of 1819-14 for the fourth time which another rejection might not be good for sellers but we stay hopeful. Any move up to 1830 I resell with my risk management but my preferred mini upswing selling opportunity is 1832-34 zone that might be hard to reach due to the downside pressure. Targets now at 1810 with possible breakout to 1805-01. Gold upside still limited I'll see any move above 1838 as nothing but trend expansion. Gold is really fighting a good fight though that might reduce the downside risk.
FX_IDC:XAUUSD
by Metalixt
Gold: upside looking more limitedGold traded in 1820s-40 yesterday still inside the the descending trendline. 1840s now likely knocked out of the game. With the new resistance being at 1830 first and 1832-34 next. Gold is still bearish biased any move up to 1832-34 I will cautiously resell if hold with target to previous low 1821 scalping term and 1816-12 long term with possible breakdown. Gold upside limit now likely down to 1838 for the time being. Break above 1838 will require wait and see. the zones you see are from lower timeframe that why it looks like that on 4h. Goodluck
FX_IDC:XAUUSDShort
by Metalixt
Gold:a move to 1838-41 a good selling opportunity Gold still trading in lower timeframe trend which shows 1841 slightly on the card. A visit to 1838-41will be a good selling opportunity I'll sell cautiously if hold with target to previous low 1816 long term with possible breakdown and target 1830 scalping term. Gold now likely limited to 1838-41 A break above 1842-44 likely to lead to M-formation on daily timeframe which will bring 1850s on the to-do list. 1838 is the resistance for now as long as there's no body close above with 1841 next in line. the blue path drawing show expected 4hrs trend action then the green represent upswing incase of possible daily timeframe M. Goodluck!
FX:XAUUSD
by Metalixt