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Goldforecast

Gold: Heave ho!Gold had finally hauled itself up a bit higher into the orange zone between $1868 and $1919 only to drop back out. However, we expect it to gather all its strength to make it into the orange zone again and subsequently towards the resistance line at $1921, where it should finish wave b in orange. Then, gold should fall below the support at $1830 and continue the descent into the turquoise zone between $1660 and $1525, where it should complete wave C in turquoise and with it the overarching downwards movement. There is a 40% chance that gold could be strong enough to rise even higher into the red zone between $1919 and $2003 before turning downwards and heading for the turquoise zone.
COMEX:GC1!
by MarketIntel
1
Gold Weekly Analysis: It's all about FOMC and Rate Decision...Having been in gold sell mode all the time since the beginning of last week, but the market closed up nearly 500 pips after the release of the positive CPI report of the American session last Friday. Both the Daily and Weekly candles have closed as bullish candles. Although the market has closed bullishly, Gold has not been able to close above its strong resistance zone. And there is no big report release for Gold until next Thursday. So, there will be a big move in the gold market on FOMC and Rate Decision. And until Thursday, Gold has technically a chance to rise a little further to the $1880/1900 price zone. . Resistance from current rate is $18800/1900.As market doesn’t have too many market mover days in early of the next week and gold closed in full faced bullish candle. So, beginning of the next week, gold may go up and test $1880/1900 it drops. And I am expecting gold may drop from Trendline Resistance Zone of 1880/1900 during FOMC and Rate Decision. Well, now if the Fed makes a dovish statement or does not raise the 50 bp rate then maybe it will close above $1900 and again the market will create a chance to rise till $1950 and $2000. Reason for gold's drop: 1. Next week FED will hike rates more than 50 BPs. 2. Recently the US job market report and CPI rose more than expected. 3. Gold is near to its trendline resistance zone. So, technically it is expected to drop from the present zone of $1870/1900. Caution: Of course we are not going to sell instantly. Because D1 and Weekly candle closed in full faced bullish pinbar candle. So, it has created more chances to test the nearly $1880/1900 price zone again. I think till next Thursday (FOMC and Rate decision) gold will go up. On Thursday we have the FOMC and rate decision. So, I am expecting gold will drop at the FOMC and Rate decision day not before.. Let's see what happens. If you like my analysis, please like, comment and share. Thanks Everybody.
TVC:GOLD
by Gold_Trading_Expert
2
GOLD Futures Positional Long Idea#GOLD Futures Postional Long Idea Disclaimer: These levels are purely based on Price action/demand and supply zones & and consumed only for educational purpose & should not be taken as buy/sell recommendation. I will not be responsible for any loss/profit incurred if anyone takes trades based on my views. Please consult your Financial Advisor before making any trading decision. Leave a comment that is helpful or encouraging. Let's master the markets together.
MCX:GOLD1!Long
by sbkurandwad77
XAUUSD - GOLD CURRENT SITUATION- US10Y is currently slightly up to 3.0% LEVEL. Like we said before, it's been a bit of a CORRECTION in the last few days. We can see that the POSITIVE SENTIMENT for USD ECONOMIC DATA is also very POSITIVE for DXY. - The power of USD is still very strong in GOLD. US10Y will behave today on the behavior of CPI DATA in the NEWYORK SESSION. DXY has been DOWN very fast for the last few days. But now it is becoming UP. We look forward to hearing from DXY. US10Y LONG TERM UP is going to be with this RATE HIKE CYCLE and this MARKET CONDITION. Currently DXY is getting a bit UP with MARKET RISK OFF. Also when we look at DXY it has moved up to DXY 103.100 LEVEL. - The GOLD PRICE is currently moving slightly below the DYNAMIC S / R LEVELS. Most likely the GOLD PRICE will be SHORT TEEM UP in the future. GOLD SHORT TERM has a UP SIDE BIAS but may be more DOWN under the influence of DOLLAR in the future. So it can be a bit UP before SELL. In a DOWN SIDE CHANNEL a GOLD can be seen moving. - Currently the OVERALL MARKET is showing RISK OFF. STOCKS is currently RED showing a RISK OFF SENTIMENT. And the VOLATILITY is getting a bit UP. Also COMMODITIES show a DOWN SIDE BIAS today. Currently the MARKET has a RISK OFF SENTIMENT. Therefore, in the future, all NZD CAD AUD currencies may be slightly lower compared to JPY CHF and USD currencies. - GOLD PRICE can be UP again before DOWN until 1910 LEVEL. So GOLD is more likely to go back to the 1910 LEVEL. Then you can BREAK TREND LINE and definitely DOWN up to GOLD price 1786 LEVEL. If the TREND LINE is BREAK, you can go up to GOLD 1765 LEVEL DXY or US10Y if there is a UP TREND again. - 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
GOLD Trading IdeaRight now Gold seems to stay in Sideway. it is in a BlackZone where both buy and sell might be risky. Therefore, the best thing is to wait for the right place to enter to the market. Facts: If we look for the time frame H1, we can see the nearest and best area is 1859 - 1861 which is working as resistance level for GOLD. Since 23rd May 2022, historically gold got rejected many times from this level. Considering cloud breaking strategy, we can see that the yellow A crossed the Red zone several times during this period of time. Fundamental Facts: NFP resulted too strong last week (3rd June,2022) but we saw gold could not break 1830 which is strongest support for Gold. If Gold tested 1830, we could think of bounce back or going towards 1800. We can trade gold like from 1859, we can go for sell with a STOPLOSS of 1871 and TAKEPROFIT of 1834.
OANDA:XAUUSD
by ForexLab
2