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Gold analysis: Double bottom and bullish RSI divergence formingGold has fallen 2.1% in the last week, and it is now trading at its lowest level since July 21st, when it set the year's low of $1,680/oz. Looking at the technical patterns, it appears that a double bottom is forming, as $1,680 is now only 1.5% below current prices. A significant trend reversal could occur if this double bottom in prices is accompanied by a bullish RSI divergence, with the indicator failing to update new lows. Similarly, in August 2021, gold prices formed a double bottom along with a bullish RSI divergence, paving the way for a multi-month uptrend to March 2022's peaks. To see a reversal of gold's bearish trend, either the Fed must stop raising interest rates (unlikely) or markets must lose confidence in the Fed's ability to control inflation in the near future. Gold, unlike the US dollar, has not been a successful inflation hedge so far in 2022. The bullion has lost 4.5% since the beginning of the year, while the US dollar index ( DXY ) has appreciated by 13%. In practise, market participants have had some confidence that the Federal Reserve will be able to restore inflation to target. But what if inflation continued to soar despite interest rate increases? Fiat currencies like the US dollar would be an asset with negative real returns if the market started to believe that despite rising interest rates, inflation will continue to be much higher than anticipated unless the economy experiences a severe downturn. In that case, large investors' attention may shift back to gold, which has historically protected against the risk of inflation expectations becoming unanchored. Inflation expectations seem to have bottomed out in July, and they have been on the rise over the past few weeks despite rising expectations for higher interest rates, as evidenced in the 5-year and 10-year US breakeven rates . This move is telling us that the market is beginning to factor in the likelihood that inflation will remain above the 2% target for the next five or ten years. Further increases in inflation expectations during periods when the Fed raises policy rates are a warning sign that inflation expectations are becoming unanchored and the market is starting to lose faith in central banks' ability to control inflation. Further increases in inflation expectations during Fed rate hikes are a warning sign that inflation expectations are becoming unanchored and the market is losing faith in central banks' ability to control inflation. Crossing this Rubicon would lead to a new bull trend in gold's price. Idea written by Piero Cingari, forex and commodity analyst at Capital.com
TVC:GOLD
by Capitalcom
1
GOLD (XAUUSD): Key Levels to Watch Next Week 🥇 Hey traders, Here is my latest structure analysis for Gold: The price is currently consolidating between 2 structures: Resistance 1: 1754 - 1766 area Support 1: 1727 - 1735 area I guess the market may keep coiling between these areas next week. The breakout of one of those will trigger a bullish/bearish continuation. Next support: major falling trend line Next resistance: 1801 - 1808 area Good luck next week! ❤️If you have any questions, please, ask me in the comment section. Please, support my work with like, thank you!❤️
OANDA:XAUUSDShort
by VasilyTrader
5
Gold Analyze (Short term/ Timeframe 2H)!!!Gold broke the Descending Channel by the candle with a long body and large volume. Now, we are watching the pullback section to the yellow zone in my chart or even the upper line of the Descending Channel. I used parallel channels and the Fibonacci strategy to find the 🎯targets🎯 of a long position. Gold Analyze (XAUUSD), Timeframe 2H (Log Scale) Do not forget to put Stop loss for your positions (For every position you want to open). Please follow your strategy, this is just my idea, and I will be glad to see your ideas in this post. Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
TVC:GOLDLong
by pejman_zwin
Gold Trend 25/08 Gold stayed in a tight range yesterday. The day began at 1748, and the price was bounded within 1745-50 early in the Asian & European sessions. It touched the day-low near 1742 before the US session, then the buying came into the market. The day-high reached 1755, with day ending at 1750. The uplifting momentum has accelerated as the upward trend line shifted from (3) to (3.1) yesterday. The price has cleared the selling resistance between 1750-55 early in the Asian session today, triggered a new round of buying. Once the price clears the next resistance 1760(2), the next upside target will be at 1770-73. The structure 1730-80(4) dominates the daily chart for now. The 10-day MA(5) is now blocking the upward movement; nce it is cleared, the next target will be at 20 day MA(6). S-T Resistances: 1775-73 1770 1765 Market price: 1762 S-T Supports: 1759-60 1755 1750 If you like our work, kindly give our team a thumbs up. Feel free to leave a comment; let us know what you think! P. To
TVC:GOLD
by 1uptick
Gold Trend 23/08 - 26/08Gold sunk further yesterday. The market opened at 1746. The price first touched the day-high at 1749 in the early Asian session, and the selling began. It went to day-low 1727 at the US session opening, with the day ending at 1735. The price failed to defend the 1750 and 1740 support on the 1-hour chart, the downtrend channel(1) is still dominating the S-T trend for now. A decent rebound will only begin if the price escapes the downtrend channel(2). The price is now supporting at 1730; before the next break, expect the price to trade within 1730-50(3). Gold touched the 38.2% retracement yesterday near 1728(5). After it cleared the support of 1750-55, the price touched the next downside support zone, 1730-40(4). If the price closes above 1735, the price should be able to reach 1750-55 in the next 24-48 hours. S-T Resistances: 1750-55 1745 1740 Market price: 1736 S-T Supports: 1730-27 1720 1710 If you like our work, kindly give our team a thumbs up. Feel free to leave a comment; let us know what you think! P. To
TVC:GOLD
by 1uptick