Gold Daily Analysis 03.08.2022Gold is in uptrend and tested the support at 1756 after making higher high 1788 and getting rejected from the upper boundary of long term bearish value zone (yellow).
The present value zone is bullish (white) and the present china war can help gold to continue its bullish pressure as seen in case of Russia.
However technical analysis is still not in favor of bulls and we can expect a reversal when NFP news comes. So lets be patient and see if Gold can break the 1790 level or the support below 1756 level.
For today I feel Gold will test the 1780 level. So we can see for buying.
BUY 1768 SL 1760 TP 1782
SELL 1788 SL 1798 TP 1768
Xau-usd
XAUUSD Potential for Bullish Rise
On the H4, with prices going along the ascending trendline, we have a bullish bias that price may rise from the buy entry at 1755.254, which is in line with the 78.6% fibonacci projection to take profit at 1787.591 where the the 127.2% projection and 50% fibonacci retracement are. If the price keeps going up, it may reach the resistance at 1805.421, which is in line with the 61.8% fibonacci retracement. Alternatively, prices may drop to stop loss at 1736.55 where the 50% fibonacci retracement is.
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XAUUSD Potential for bullish rise | 2nd August 2022On the H4, with prices going up, we have a bullish bias that price may rise to our entry level at 1768.25. Price should rise to our take profit level 1784.25 which coincides with 127.2% Fibonacci Extension . If prices rejects, stop loss will be at 1758.48
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XAUUSD Potential for bullish rise | 2nd August 2022On the H4, with prices going up, we have a bullish bias that price may rise to our entry level at 1768.25. Price should rise to our take profit level 1784.25 which coincides with 127.2% Fibonacci Extension. If prices rejects, stop loss will be at 1758.48
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary, and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interest arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed on the website.
XAUUSD Potential for bullish rise | 1st August 2022On the H4, with prices breaking out the Ichimoku indicator, we have a bullish bias that price will drop and rise to 1789.27 in line with pullback resistance and 61.8% Fibonacci retracement. Alternatively, prices could break and drop to 1740.05 where the 50% Fibonacci extension is
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary, and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interest arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed on the website
XAUUSD 4hour Analysis July 31st, 2022Gold Bullish idea
Weekly Trend: Bearish
Daily Trend: Bullish
4Hour Trend: Bullish
Trade scenario 1: Overall we are now looking bullish as gold moves higher. Ideally this week we can see some new structure above 1740.00 with a confirmed higher low.
Look to target higher toward 1800.00
Trade scenario 2: For us to consider gold bearish again we need to see a break back below 1740.00 with a lower high below.
Gold daily analysis 29.07.2022Gold broke out from weekly resistance at 1746. Now there is good strength for bulls. So they can start chasing monthly resistance at 1772. However we need to test the 1746 level again in Daily candle. For this the price may have sideways movement between 1746 to 1756 and can also make Higher Low above 1736 before US session. Only price closes above 1756 we will see strong bullish momentum and can go upto 1772. However we may have some hurdles here to break 1772 as it is a strong resistance.
Presently gold is moving in a strong uptrend value zone. So go only for buying at every low.
Here is my idea
BUY 1746 SL 1736 TP 1764
SELL 1772 SL 1780 TP 1764
Gold Daily analysis 28.07.2022Gold shifted value zone at a higher level. However we need to determine the exact limits of this new value zone. Based on previous candles we can see a downtrending value zone which I feel is valid. Based on this Gold will test the weekly resistance at 1746 (higher high) and make a higher low in US session. However if the value zone I consider is valid then we may test the level near 1700 tomorrow. Let us see if Gold passes or fails the test for 1746. If Gold closes above 1746 then bulls will get more strength and they will start chasing the monthly resistance 1772 on Friday.
My trading idea is to go short near weekly resistance with small SL. Trend is positive so we will try to go for small SELL orders only.
SELL 1746 SL 1749 TP 1730
BUY 1730 SL 1720 TP 1746
BUY STOP 1756 SL 1748 TP 1766
SELL 1772 SL 1786 TP 1746
Important levels 1694-1714-1730-1746-1764-1772
GOLD DAILY ANALYSIS 27.07.2022Gold is forming a wedge after breakout from the value zone. From yesterday GOLD is consolidating between 1710 to 1720 level. Today also we may have smaller candles between these levels. FOMC will give the momentum for breakout.
I hope Dollar gets much stronger after FOMC. But technical analysis shows GOLD should also make highs upto 1742 by end of month. So after FOMC we will see stop loss hunting upto the 1694 level. So be ready to buy the lows instead of waiting for SELL opportunities.
The important levels today 1694-1704-1714-1730-1742-1772
This is very sensitive level. So dont SELL with big TP. Wait for lows and BUY between 1694-1704
BUY 1694 SL 1686 TP 1728
BUY 1704 SL 1698 TP 1720
SELL 1742 SL 1748 TP 1730
SELL 1772 SL 1782 TP 1746
XAUUSD 4hour Analysis July 25th, 2022Gold Bearish idea
Weekly Trend: Bearish
Daily Trend: Bearish
4Hour Trend: Bearish
Trade scenario 1: Gold has been significantly bearish and it looks like it will continue bearish into this week.
Ideally price action rejects near 1740.00, confirms the lower high and forms strong bearish setups to enter short on. Look to target lower toward the 1676.00 area.
Trade scenario 2: For us to consider gold more bullish we need to see a significant break back above 1740.00 with a confirmed higher low above.
XAUXAU breaks the Value area high and pulls back on a retest, we had this accumulation stage where XAU was very balanced as you can see on the VRVP we have this nice distribution curve.
We can look for a little pullback and try to buy the market if we see price start transacting above this ranging market.
GOLD DAILY ANALYSIS 22.07.2022Gold is in downtrend value zone. Yesterday Gold made a lower low 1680. But this level showed good price action and gold. However gold will continue downtrend until either it closes above the channel and makes high of 1726 and 1746 levels.
For now gold can test the 50 and 62 percent fib levels at 1698 and 1692. So we can go for buying here.
BUY 1692 SL 1682 TP 1706
SELL 1718 sl 1726 tp 1708
Gold Daily Analysis 20.07.2022Gold is moving sideways in wedge.
We need to breakout from this wedge to know which channel gold is following.
If gold closes below 1706 then we will follow descending channel and will make new lower low below 1696
If gold closes above 1714 then gold will follow ascending channel and will make a new higher high above 1724
So we will wait for breakout.
BUT stop 1716 SL 1706 TP 1726
SELL stop 1706 SL 1716 TP 1696
GOLD DAILY ANALYSIS 19.07.2022Gold is in value zone trending in downward direction. Gold made a lower high 1724 and is going to make the lower low below 1696 today if it continues in this channel.
So when gold reaches the support and resistance levels of value zone we can go for BUY and SELL orders.
These levels are very risky for SELL as we can see a strong buying pressure at any new low. So be careful if you prefer sell go will small SL.
If we see a breakout from the value zone the strong resistance is 1746 and 1772. So we may go for SELL at any of these levels after breakout. I believe there is order block at 1772 and price should visit this level before taking next direction. In my thought the best level to BUY is 1676 and SELL is 1772.
The strength of the downtrend channel is also reducing. So we can consider bulls to show up soon. However wait for the lower low and take BUY.
We can go for scalping until price stays within the value zone.
SELL 1772 SL 1784 TP 1748
BUY 1686 SL 1666 TP 1714
SELL 1718 SL 1728 TP 1706
Gold Daily Analysis 18.07.2022Gold made higher high today. This is a positive sign for buyers. However we need to close above the value zone for more buying.
For now Gold is ranging in its value zone between 1700 and 1716. But we will go only for buying when gold makes a low.
BUY 1708 SL 1696 TP 1736
XAUXAU could see some relief if we see DXY fall as attached below, I personally dont believe XAU is off the hook with the hikes likely to continue for some time, but we may look to catch some pips on the recovery here which should produce some even better sells later down the line. We also have RVI Divergence signalling a potential trend change to back up the trade.
XAUUSD 4hour Analysis July 17th, 2022Gold Bearish idea
Weekly Trend: Bearish
Daily Trend: Bearish
4Hour Trend: Bearish
Trade scenario 1: Looking bearish on gold for this week but we’re not yet sure if we’ll be able to find a high probability trade setup, it all depends on price action this week.
For us to continue trading bearish we need to see structure form. A lower high close to 1740.00 resistance and our 38.2% fib level would be ideal.
Trade scenario 2: If we are to consider gold bullish we would need to see a break back above 1740.00 with a confirmed higher low.