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Goldusd

Gold Trend 17/06Gold gained further yesterday. The price was under pressure by the 250 days MA(1833) early in the Asian & European sessions after the day began at near 1832. The price consolidated toward 1814 before the US session, and the buying started to kick in once the US session became active. The price cleared the previous 1840(1) and surged to the day-high 1857 before the day's end, gaining USD 24. The S-T trend has shifted upward after gold escaped the range of 1808-40(1). The upside target of 1860 we set yesterday is completed, and the price is now back to last week's range of 1830-70. While the momentum is heading up, expect the price to touch the top of the range around 1865-70 again, with the price support at 1840 in S-T. A double-bottom pattern(4) is developing after the price jumped back upon the 250 days MA(3) on the daily chart. Expect the price to approach the downward trendline(5) in the next few trading days. If the price can clear the selling resistance at the trendline(5) and 1870(the neckline of the double-bottom pattern), it should be able to touch 1920-40 to the upside. S-T Resistances: 1865 1860 1850 Market price: 1843 S-T Supports: 1840 1835-37 1830 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 14/06 - 17/06Gold fell from the 1-month high yesterday. Carried the buying momentum from the previous session, the price jumped to a new high 1879 within the first hour of the market's opening. But, the climb failed to sustain. The price quickly fell back to its range of 1830-70, and the slide began. The selling accelerated after gold broke the 1850(1) support at the opening of the US session. The day ended near the day low at 1819, down by USD 51. Like yesterday, the price has touched a new low at 1808 at the opening hour of the early Asian session. As the price cleared the support at 1830(2) yesterday, we expect the price to remain weak within the coming 24-48 hours, most likely before the US Fed. Meeting on Wed. The 1808-40(3) range should be the range before the next break. The trend has turned weak after gold finally escaped the range of 1830-70(4) yesterday. The next critical support level is now sitting at 1800-10, with the 250 days MA(5) remaining as the upside resistance for now. S-T Resistances: 1840 1833-35 1830 Market price: 1824 S-T Supports: 1820 1810-08 1805-00 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 Expanding the Limits of the Range and Future Projections***This is not financial advice of any kind. Any information that you take and act upon is at your sole discretion.*** The overall thesis here is that gold wants to dump to Covid Crash levels before setting new all time highs. The Daily candle just closed above our average price area suggesting that we are going to be moving back up toward the previous high. Our initial short-medium term projection is still valid and through the course of the next two weeks will get much more clarity about which direction we're headed. I am not trading a leveraged in gold, but have invested into physical bullion, so do with that what you will. ***This is not financial advice of any kind. Any information that you take and act upon is at your sole discretion.***
FX_IDC:XAUUSD
by AuracleatFungii
4
Gold Trend 16/06Gold rebounded from the 1-month low yesterday. The day began at 1807, and the price has kept moving higher early in the Asian & European sessions. Gold reached the early high at the US session opening near 1836. Once the US Fed. announced the result, the price jumped to the day-high at 1841, with the day ending at 1832, up by USD 24. The market reaction wasn't too strong after the US Fed. Meeting where the price remains in the 1808-40(1) range. An S-T upward trendline(2) has formed in the past 24 hours. If the price can clear the selling resistance at yesterday's peak near 1840, it will be able to touch again 1860 in the next 24-48 hours. The buying support below 1810 is still strong. However, the price has yet to clear the selling resistance at the 250 days MA(3). Before the price can break out from the 250 days MA(3), expect the price to be bound between 1810-34 on the daily chart. S-T Resistances: 1848-50 1840 1833-35 Market price: 1831 S-T Supports: 1830 1820 1810-08 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 15/06Gold touched a new one month-low yesterday. The day began at 1819. Like the day before, the price quickly rebounded from the early low of 1808 within the opening hour of the Asian session. It reached the day-high 1832 at the European session, and the selling has resumed. The price slid to the day-low at 1804 with the day ending at 1807, down by USD 11. Although gold touched a new 1-month low yesterday, the buying support between 1800-10 remains strong. The selling momentum has slowed down in the past 24 hours after the price broke out from the downward trendline(1) at the day's end yesterday. Expect the price to stay within 1808-40(2) before the US Fed. Meeting announcement. Some rumors are saying that the Fed. may increase the rate by 0.75%; if it turns out to be true, the price will test a new low again today, targeting 1785. Otherwise, if the Fed. hike the rate by 0.5% as the market expected, the current downtrend will end. A bottoming out has yet to appear where the gold price closed near the day-low yesterday on the daily chart. Unless a reversal signal occurs, there is still a chance that the price will touch a new low within today. S-T Resistances: 1830 1825 1820 Market price: 1814 S-T Supprots: 1810 1808 1800 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