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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
Gold: ambitious dollar aims 1780-95I told u guys about USD considering daily engulfing candle which it did. Dollar cracking of 1823 zone that it have been rejected twice is a good sign for further decline. The next move for dollar should be turning the 1823 zone to resistance. Upside pressure still limited to 1842-44 which will be a good selling opportunity again if capped but 1830 and 38 will be serving as tough resistance ahead of 44. There are some lower timeframe trend that still have 1843 in trend which once broken will make it a hard place to retrace to though still in 4h which I think is for short time. I break below 1801 is need to keep move to 1870s hopeless which is down part of the yellow uptrend. The thick green triangular trend is daily timeframe but the moves on the others trends are more important for now. Gold targets for is breaking of 1813 05 and 01 which opens door for 1786-95 a moves to the down part of the blue trend seals deal to 1753-22
FX:XAUUSDShort
by Metalixt
Gold: Dollar considering a daily bearish engulfing candle I told u guys yesterday about a possible upswing ahead of Chair Powell. Which happened earlier today. Which clearly created M( or partial M cos of. The delay before formation) and trend retest on my 4h FXCM xauusd which I stopped uploading because of the complaint of the roughness. Gold still trading at the upswing zone with 1842-44 standing for the bears and 1834 standing for bulls. A firm resistance at 1834 won't be good for USD because it might send gold higher but I don't see gold going higher than 1847-53 near term any higher above 1853 will be out of hand. For now 1842-44 is a good selling opportunity to previous low 1823 where the pair next decision is likely to be made. Gold is already signalling a reversal signal on lower timeframe but very choppy. DXY likely to trade in green today after forming a mini triple tap with no trace of trend and retest of previous zone breakout same time which I see as a good trigger though sometimes gold don't give a shit. Dollar likely to outperform today amid DXY outlook but that's the worst market i can count on cos it is full of wonders
FX_IDC:XAUUSDShort
by Metalixt
Gold: most fingers points downI told you guys about gold creating new trendline to limit upside pressure earlier and about 1878-80s being ruled out and same with 1850s, now 1840s is now looking evicted gradually. the upswing on the red path drawing likely to be gold last limit up for the time being. These are 2 things gold don't want to happen on journey down to 1753. 1. A triple rejection at 1805 zone 2. A firm resistant at the down part of the blue uptrend which will still keep the hope to 1880-1900 alive. Once those zones down there are cleared come 1790s that the blue trend down part which once broken bring 1753 on the card and then 1720s.
FX_IDC:XAUUSDShort
by Metalixt
XAUUSD - GOLD CURRENT SITUATION- US10Y is currently slightlyD DOWN to 3.28% LEVEL. Like we said before, it's been a bit of a CORRECTION in the last few days. But now the us10y is up fast. We can see that the POSITIVE SENTIMENT for USD ECONOMIC DATA is also very POSITIVE for DXY. - The GOLD PRICE is currently moving slightly below the DYNAMIC S / R LEVELS. Most likely the SHORT TERM will be slightly UP ahead of the GOLD PRICE. GOLD SHORT TERM has a UP SIDE BIAS but may be more DOWN under the influence of DOLLAR in the future. this time gold will up. - GOLD PRICE can be UP again to 1910 LEVEL. A - However, the bigger picture will change if a new sentiment enters the market or the market takes a risk to strengthen the US dollar first.
OANDA:XAUUSD
by benny_marshall