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GOLD/AUD

is GOLD coming ??As can be seen in the graph, Gold seems to form an upside-down Shoulder-Head-Shoulders formation over a very wide time interval. In such a case, if the $ 1670 levels, which it has been recently supported, will form the Right Shoulder, we can see the first target of $ 2180 and then the target will be $ 3000 because of the formation target. However, as a counter to the above scenario, prices must first break the downward trend, if not, we can see a retracement to one of the strongest horizontal resistances of $ 1400 . It contains only personal views and opinions. Does not contain legal investment advice ...
GLong
by EmoteK
Fibonacci channel analysis-Downtrend in gold was expectedGOLD Since start of this year the shining metal has loses its shine as its started to fell off from the 1960.00 which is 400 pips below the Major key psychological level acting as strong resistance for the bear. We can see the longer term downtrend channel formation since January And Gold is unable to break this downtrend channel formation. The fundamental factors such as The vaccine roll out around the globe and the declining phase of the covid-19 and the economic optimism around the globe is also a key factor which causing the investors were fled to the stock market and equity markets. Because the risk sentiment was shifted from negative to positive in recent months. The industrial and service sector was slowly gaining momentum. Another one factor here to consider is the galloping in the prices of Bitcoin and other stable coins. Nowadays the investors are more interested to invest in cryptocurrencies.Though the global gold consumption was slowly regaining the price patterns were still pointing downwards Gold has broken three major key psychological levels such as 1900.00 1800.00 1700.00 Currently 17000.00 was acting as dynamic support and resistance for the both bull and bear. The price was well below the Point of control and The price was trading below the 200,100 Exponential moving average. only 50 EMA was acting as last resort of hope for the bull. In Fibonacci channel the price has tend to bounce from .50 and 0.618 retracement level and the price cannot fall below this levels. Ahead of the today FOMC meeting the direction was unknown if the price broke the downtrend channel the price might reach around 1800.00 If the price is still within the downtrend channel it will reach around 1650.00 as the next downside target. We can see a triangle formation and it was expected to break to the south
OANDA:XAUUSDShort
by forexorbit
GOLD ~ Reversing from middle support Hello traders and investors, Welcome to technical analysis of GOLD. if you like this analysis please like and comment below, it will support creating more analysis for you. GOLD really don't want to break middle line this time. as i mentioned in my previous gold analysis that if we see bearish scenario gold need to break this middle line support , but today we see regular bullish divergence in RSI which indicate bull are coming. and target 1 is near 1844.
OANDA:XAUUSDLong
by laddi
Aussie Gold stocks are up today but is it too earlyLocal Aussie gold stocks are on the move up today on some bargain hunting. Are the bulls jumping the gun though and setting up for more disappointment? The anchor to the downtrend is at 2540 on Aussie gold and price is extended into support around 2335 which is yet to prove it will hold. If the Aussie swings higher again, we expect that Aussie gold will pressure lower and may trigger a stop run below 2335 to clean out some buyers. Gold in USD terms is under pressure also so we may see more downside to come yet. ------------------------------------------------------------- WE TRADE WHAT WE TEACH Check out our recent Live Streams from our profile page!! ------------------------------------------------------------- ** If you enjoy our free content, please support and follow our profile, by hitting the Follow button to get further high quality ideas. ** ** If you are following our ideas any comments and likes are most welcome and will be greatly appreciated ** ** With quality alerts and correct Risk Management, you can learn consistency and grow your account ** ** With quality portfolio management and defined risk levels to help your account grow and achieve steady profit targets while increasing your trading edge. **
OANDA:XAUAUD
by TradeTheStructure
GOLD IS BULLISH LONGTERMAiming towards 1910 on gold and then a breakout to higher resistance levels and hepfully pass the main ones i highlighed, specially the MAJOR resistance. 2K Stimulus strong possibility and a really good catalyst. Stimulus check might be a seperate standalone bill, so good news for gold if passes. More money printing for the other seperate bills that add up to similar government spending. GOLD bullish overall longterm. Maybe buy the rumor & sell the NEWS coming up(Christmas rally, Jan-Feb correction), Goodluck!
TVC:GOLDLong
by djpsypher
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