Due to two similar Movements in recent weeks, the price has approached the ceiling of the Downtrend channel and we expect to see the descending for Gold against the Dollar by any positive news near the New Year. Of course, we know that the negative news and statistics of Pandemic continue and the stimulus has already left its effects on the market. Therefore, if...
In recent weeks and months after the historic peak of gold prices in last August, the precious metal seems to be in a long-term downward trend. Although this been accompanied by the decline of the dollar index, but attention to the eastern markets, as well as new valuable assets such as crypto, have prevented the price of Gold from rising further and in the long...
From last 2 weeks, Gold was is in a bearish movement in daily channel due to the Politic hopes and stimulus doubts which all were supporting dolor in the chart. But this movement is getting weaker and the stronger Gold demands showing up. Probably in the next coming days, we will be facing hopes on confirming stimulus and Biden support for Market development,...
Further to my previous analysis, Gold kept falling till 1775 and we could gain 275pips more. Cheers!
We had an strong bearish movement this week. Which guided us to be a Gold seller, but since yesterday morning the price reached to the 1800$ zone. This is a long term resistance and perhaps we will face bullish pullback even countable for long position in a day trading. But, the strong tendency of descent and the main cycle might not be changed in following...
As the daily timeframe shows, gold entered a long-term bearish channel after hitting a record high above $2,000 ($2080) in August, trying to break the channel and create a cycle with pre #us_election tensions. However after dealing with the #Channel_boundry and with the positive and statistical news regarding the production of #vaccine against #covid_19, we saw...
Conservative Investors will not do much of Risk in this time! Means that Gold will be more valuable than investment for coming days when we don't know who will be the President of USA in 2020. Also Gold was already in the bullish rally which can be supported till 1910$ atleast.
When crossed the bullish trend line, continued the slipping till the last week ended and jumped to the below center line of the bullish channel. Seems that supply is more stranger than demands and sellers imposed their power in the market. If the situation remains the same, GBP will drop till the down side channel line or even more. Unless this week starts with...
further to the positive news regarding #stimulus deals and the rising of dollar sellers and also #stocks and #gold buyers, it seems that #gold has entered an upward channel that is increasing in the strength of buyers day by day. Unless negative news is heard again from #United_States.
In along term slightly bullish movement appears. However in a weekly move seems to gain stronger momentum.
further to my morning analysis, could gain 130 pips in short position.
After breaking bullish channel (which was started from last week September) with a sharp bearish movement last week, price seems to shape a triangle that is between resistance zone on top and bullish trend on down. We don't see much difference between supply and demands that will guide us to wait till buyer or seller shown up with the stronger weight in market.
The price has become in a long-term range after exiting an uptrend channel(previously announced), which comes from the positive news of the Brexit negotiations and the influx of pound demands, means that will pushing hard to bullish and reach to higher zone. Of course, any disappointing news from these negotiations may bring the price back to the lower range.
Further to the stronger demands on selling Pound in market and based on the resistance target meet, seems to have more chance of short positions up to first supply zone which might change the market balance after.
The first step of demand has been so strong that it has crossed the resistance zone and after that with a weak pullback, seems to have a second rally to reach to the second zone. However fundamental news telling that stock market is getting worst which might push the equities to the safe currencies like #dollar.