XAUUSD Cautious BuyAlthough the price of gold is affected by the change in interest rates and caused to fall, I think the price will fluctuate in the range of $1640-1672, I will try to buy at $1745-1748 with a stop loss set at $1735-1738. Short term trading should not be greedy and always be ready to leave the market.
Also I support my view with a broader time period chart where the gray area is where price is potentially staying.
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Predictions
GBPUSD : Current Situation & Technical , Fundamental View#GBPUSD
- Currently the MARKET SENTIMENT for GBPUSD is on the DOWN SIDE. All MARKETS including STOCKS and STOCKS may be DOWN due to MARKET RISK OFF. It affects the POUND greatly. GBPUSD may be slightly UP after this DOWN.
- The price can definitely move up to the SUPPORT LEVEL below the GBPUSD. The reason for that is because there is a good DOWN SIDE BIAS in the MARKET for USD. But GBPUSD can go down till 1.0325 LEVEL.
And after that the market can go UP, GBPUSD can be BUY to the 1.1750 LEVEL if the MARKET SENTIMENT changes and STOCKS and COMMODITIES start going UP. So keep an eye on it.
XAUUSD 4H Price RangeThe price failed to hold above $1728 and currently, the $1680-1728 price level is a potential move zone.
Judging from the broader range its higher price range accumulates numerous bearish chips and price recovery looks particularly difficult.
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Earlier analysis
XAUUSD price will be volatileThe green price range is a demand area and there should be a certain amount of short positions that will be closed to drive the price rally. I think the price level of $1715-1725 is attractive to me to establish long positions to earn profits due to price swings.
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