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Sellxauusd

Gold monthly downside level is BROKENBecause of the broken monthly level line and it is already retested this level. I am directly bearish tonight on Gold , also because the dollar will rise and as i see on my weekly formation bar it is a shaved bearish bar which means it will go down. Take profit around 1653.00 and stoploss 1683.00 You don't need to look hours to analyse this chart. It is simple and just follow your analytical and fundamentals Have a nice weekend and nice trading week React and share your thoughts what you think?
FX_IDC:XAUUSDShort
by price_action_bars
Gold has been in consolidating within the familiar sidewaysXAUUSD Technical Overview: Pivot: 1196.20 Key Resistance: 1200.55 - 1204.25 - 1207.89 - 1212.66 Key Support: 1196.20 - 1193.55 - 1191.89 - 1188.29 Day Trading Range: 1205 - 1188 Technical Indicator: RSI: RSI indicates upside bias with 52 level. Moving Average: SMA 55(1200.54) , SMA 100(1202.22) & SMA 200(1201.43) these all are major resistance for Gold today. Overall, With respect to the Fed fund futures yields, these continued to price 100% chance of a hike this week while the chance of another hike in Dec is priced at 90%. Much will now depend on the Fed's dots and median forecast, but anything uber-dovish could well see a huge unwind in the greenback and gold at these levels will all of a sudden look like good value and it may even take up market's preference for its safe-haven status again which would put it on course for a sizeable reversal. On the other hand, should the FOMC event be taken as more hawkish than expected, the dollar is likely to take back its title on the board of FX and weigh heavily on gold leading to a potential breakout of this extended period of consolidation. Gold has been range bound since mid-August and is likely to remain in this state of flux as long as the Fed doesn’t do something widely unexpected on Wednesday. The U.S. Federal Reserve is widely expected to raise its benchmark interest rate 25 basis points on Wednesday. This event has already been priced into the market. Gold is not likely to move on this news, but traders could react to any news on the path of future rate hikes. For example, a dovish Fed monetary policy statement could put upside pressure on gold, while threatening to trigger a breakout above the key resistance level at $1220.70. The Fed cutting back on the number of rate hikes in 2019 or removing the word “accommodating” from its policy statement would be supportive. Gold could break further if the Fed continues to press for more rate hikes in 2019 in order to gain control of rising inflation, or if it leaves the word “accommodating” in its monetary policy statement. Additionally, gold could fall further if escalating trade tensions between the United States and China drives investors into the safe-haven U.S. Dollar. Today’s Home Price Index (HPI) is expected to show an increase of 0.2%. The S&P/CS Composite-20 HPI is expected to come in at 6.2%. The Conference Board’s Consumer Confidence report is expected to come in at 132.2, slightly below the previously reported 133.4. The Richmond Manufacturing Index is forecast at 22, down from 24. Thanks YoCryptoManic
FX_IDC:XAUUSDShort
by yoCryptoManic
European Session XAUUSD fear from $XAUUSD Technical Overview: Pivot: $1197.20 Day Trading Range: $1200 - $1186 Key Resistance: $1196.44 - $1200.00 - $1205.89 Key Support: $1193.35 - $1189.56 - $1186.78 Technical Indicators: Moving Avg: SMA100 ($1198.33) & SMA200($1200.12) strong resistance for the day. MACD: MacD is having low buyer volume and try to get seller volume soon. Most Likely Scenario: short positions below 1197.25 with targets at 1192.00 & 1187.50 in extension. Alternative scenario: above 1197.25 look for further upside with 1200.00 & 1202.00 as targets. Fundamental: Yellow Metal continue to be held hostage to the US dollar which can’t seem to get its direction Set. This has a lot to do with emerging markets and of course the global trade issues, and as a result the gaining US dollar continues to weigh upon the Gold markets overall. If that’s going to be the case, I think that the market will probably continue to offer selling opportunities on rallies, and that’s probably how you should play this market. Thanks YoCryptoManic
FX_IDC:XAUUSDShort
by yoCryptoManic
European Session Gold is Slipping XAUUSD Technical Overview Day Trading Range: $1182 - $1200.45 Key Resistance: $1194.85 - $1196.00 - $1200.45 - $1204.87 Key Support: $1190.35 - $1186.85 - $1183.68 - $1179.20 Pivot: 1196.50 Most Likely Scenario: short positions below 1196.50 with targets at 1189.50 & 1187.00 in extension. Alternative scenario: above 1196.50 look for further upside with 1201.00 & 1204.00 as targets. Technical Indicators: StochRSI: The indicator is mixed with a bearish bias. MACD: MacD shows short term bullish divergence but range is down side bias. Fundamentals: Gold markets are reacting to the US dollar strengthening around the board, and at this point I think that will continue to be the major driver of gold. More with the US dollar climbing based upon higher interest rates and of course the concerns with emerging markets, it makes sense that gold will struggle. Pay attention to the EUR/USD pair if you’re a Forex trader, because of that breaks down below the 1.15 level, it’s likely that the US dollar will strengthen yet again, driving gold to fresh, new lows. If we can turn around and recapture the $1205 level, at that point I would anticipate a move to $1210, followed by $1215. Thanks YoCryptoManic
FX_IDC:XAUUSDShort
by yoCryptoManic