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Xaulong

Technical analysis update: XAUUSD (25th October 2021)XAUUSD continues to climb higher. At the same time, the odds for validation of inverted head and shoulders pattern increasingly grow. Pattern will get validated once neckline (around 1835 USD) is penetrated to upside. This neckline currently acts as important resistance level. We expect occurence of breakout above this resistance to be accompanied by resumption of bullish trend which will take gold to new all time high. We continue to be bullish on gold and we would like to set short-term price target to 1850 USD. Our medium-term price target remains 1875 USD. Technical analysis MACD performed bullish crossover which strongly bolsters bullish case for gold. In addition to that RSI and Stochastic remain bullish. We expect eventual RSI crossover into overbought territory which will be accompanied by validation of inverted head and shoulders pattern (and subsequent resumption of uptrend). ADX continues to contain low value which suggests that trend is very weak. Support and resistance Short-term resistance appears near 1835 USD which coincides with neckline of forming inverted head and shoulders pattern. Another important resistance sits at 1916 USD. Short-term support sits at 1800 USD, while another important support level sits at 1750 USD. Major support sits at low of 1676 USD while major resistance sits at all time high of 2075 USD. Our previous thought from 14th October 2021: Disclaimer: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not serve as basis for taking any trade action by individual investor. Your own due dilligence is highly advised before entering trade.
OANDA:XAUUSDLong
by Tradersweekly
18
Technical analysis update: XAUUSD (8th November 2021)XAUUSD trades just 10 USD below its short-term resistance. We will observe gold in the following days and we will look for potential strength that could elevate price above short-term resistance. In our opinion such occurence would be very bullish development for gold. Indeed, we expect it to cause resumption of uptrend in gold. Because of that we continue to be very bullish on gold and our short-term price target is 1850 USD. Our medium-term price target is 1875 USD and long-term price target is 1900 USD. Technical analysis We expect price to continue climb higher as MACD, RSI and Stochastic are all very bullish. Though, ADX contains low value which suggests that trend remains neutral at the moment. Despite that we are bullish as we expect breakout above short-term resistance and eventual resumption of uptrend. We previously showed inverted head and shoulders pattern being formed. We later stated that pattern was taking too long to form and we abandoned it. However, resistance level at 1835 did not lose any importance. It is still valid level for breakout as it coincides with short-term resistance. Support and resistance Short-term resitance sits at 1835 USD while short-term support lies at 1750 USD. Next important resistance sits at 1916 USD and then major resistance appears at 2075 USD. Major support level sits at 1676 USD. Disclaimer: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not serve as basis for taking any trade action by individual investor. Your own due dilligence is highly advised before entering trade.
OANDA:XAUUSDLong
by Tradersweekly
12
Technical analysis update: XAUUSD (9th September 2021)In recent days XAUUSD dropped below 1800 USD towards it short term support around 1785 USD. Since then it rebounded little bit and it currently trades around 1795 USD. In the big picture we are still very bullish on gold. Especially in medium-term and long-term. Although, XAUUSD failed to break above its short-term resistance and travel through its confirmation area we detailed in our previous thoughts. We are closely watching upper bound of the downward moving channel. We think this upper bound currently acts as strong support and if it is broken then more selling pressure is likely to occur. However, gold seems as its trend is further weakening and becoming neutral. We are getting strong notion that gold will remain stuck trading between 1750 USD and 1840 USD for indefinite amount of time. Despite that we remain bullish and exepct eventual breakout to the upside from this area. Because of that our short term price target remains 1850 USD while our medium term price target remains 1875 USD. Technical analysis Stochastic is bearish. MACD is in the bullish territory. However, it stages reversal and needs to be closely observed over the next few days. Crossover by MACD below 0 points would be bearish for gold in the short term. RSI is flattening, however, its short term structure remains bullish. ADX is very low suggesting neutral trend and sideways moving price action. Closest supports sit around 1785 USD and 1750 USD respectively. Major support sits at 1677.686 USD. Strong resistance appears around 1835 USD while another important resistance sits around 1916 USD. Overall technicals are mixed. As we mentioned previously we are getting strong notion that gold will trade sideways for while before finally new trend commences. Our previous thought from 3rd September 2021: Disclaimer: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not serve as basis for taking any trade action by individual investor. Your own due dilligence is highly advised before entering trade.
OANDA:XAUUSDLong
by Tradersweekly
6
Technical analysis update: XAUUSD (3rd September 2021)Since our last update on 27th August 2021 gold has traveled towards resistance around 1834 USD. It currently trades around 1830 USD. In the following days we will observe gold for strength. We will watch out for breakout above 1834 USD as we remain bullish on gold. Our short term price target remains 1850 USD and our medium term price target remains 1875 USD. We expect gold to continue march higher and surpass all time high over next 12 months. Technical analysis RSI is very bullish. MACD crossed 0 points to the upside as we recently predicted. Stochastic is bullish too. All this strongly bolsters bullish case for gold. Current immediate support/resistance sists around 1834 USD. Next major resistance is around 1916 USD. As opposed to that major support level is around 1714 USD while short term support is around 1785 USD. Prior developements from 23rd August 2021: Here we predicted crossover in MACD and breaking above 1800 USD pricetag. Prior developements from 10th August 2021: Here we noted that price was very attractive for long entry. Disclaimer: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not serve as basis for taking any trade action by individual investor. Your own due dilligence is highly advised before entering trade.
OANDA:XAUUSDLong
by Tradersweekly
4
Technical analysis update: XAUUSD (13th August 2021)Gold has rebounded from its recent low at 1677.686 USD. Currently it trades around 1750 USD. RSI reversed to the upside and crossed above 30 points on its way, showing bullish signs at the moment. MACD is flattening out. Stochastic oscillates in its lower area, although, it starts to show first signs of reversing to the upside similarly like RSI. First resistance sits near 1790 USD which coincides with 20-day Simple Moving Average. Second resistance appears around 1835 USD and third resistance around 1917 USD. We think all these levels will be taken out over time. We also think it is highly possible that gold has already bottomed out (in recent slump) at its medium/long term support from March 2021. Our medium term price target remains 1850 USD and our long term price target remains 1875 USD. Disclaimer: This analysis is not intended to encourage buying or selling of any particular securities. Furthermore, it should not serve as basis for taking any trade action by individual investor. Your own due dilligence is highly advised before entering trade.
OANDA:XAUUSDLong
by Tradersweekly
4
Gold Daily Poised for Potential MoveThe above chart shows the daily timeframe for XAUUSD. We note that price has moved into a bullish area (zone 1). The Bollinger’s have also narrowed which may suggest that volatility is due to increase (blue rectangle). Moreover, the RSI has moved above 50 (red rectangle), which is the bullish area of the oscillator and the stochastic has tuned positive (green rectangle). We are looking to see if the Bollinger’s expand and if the stochastic moves toward 80 (blue arrow). This would indicate a momentum push. The gold CFD here may incur an overnight rollover charges , but if the stochastic is able to move to the upper quintile and hold there, it will increase the probability of a potential sustained swing.
FX:XAUUSDLong
by FXCM
3
Technical analysis update: XAUUSD (30th June 2021)Drop in XAUUSD this week may be perplexing to many people. However, yesterday we outlined case for divergence between price and RSI. This is very positive developement for price of gold. Our short term price target remains 1810 USD per ounce. Our prior thoughts from 28th June 2021: Here we covered technical indicators and outlined case for divergence between price and RSI. We expect price to get back above support line very soon. Disclaimer: This analysis is not intended to encourage buying or selling of any particular securities. Furthermore, it should not serve as basis for taking any trade action by individual investor. Your own due dilligence is highly advised before entering trade.
OANDA:XAUUSDLong
by Tradersweekly
6
Technical analysis update: XAUUSD (18th June 2021)Yesterday gold halted its decline at 1767.295 USD per ounce and we saw heavy accumulation below 1800 USD pricetag. MACD remains bearish. RSI and Stochastics show signs of being oversold. In addition to that RSI seems as it wants to reverse back to the upside. However, investors should be wary that drawdawn towards 1750 USD is still possible. Though, we do not have high confidence in such move. Rather we expect gold to stop correcting soon and reverse back to the upside. We set our medium term price target to 1810 USD per ounce. Our thoughts from yesterday: Here we warned that gold could continue its decline below 1800 USD. Here are our thoughts from 11th June 2021: Here we warned of volatility in gold around FOMC date. Some prior thoughts from 17th May 2021: Here we anticipated breakout above upper bound. Prior developements from 16th April 2021: Here we correctly predicted move to 1900 USD per ounce. Disclaimer: This analysis is not intended to encourage buying or selling of any particular securities. Furthermore, it should not serve as basis for taking any trade action by individual investor. Your own due dilligence is highly advised before entering trade.
OANDA:XAUUSDLong
by Tradersweekly
4
Technical analysis update: XAUUSD (11th June 2021)Last week gold halted its decline at 1856.040 USD after finding resistance at 1916 USD. Support remains at 1852 USD. We think price will trade in range between support and resistance for a while. There is even possibility that support will be retested, however, we think there is small chance it will be taken out. Technicals are currently mixed. We believe bullish trend of higher degree remains intact and in long term gold has more upside than downside. Though, investors should be aware that there is FOMC next week and price might be volatile. Our long term target of 2100 USD remains unchanged. Here are some prior developements from 26th May 2021: Here we outlined case for sharp and shortlived corretion with support of 1852 USD. Correction subsequently occured and halted its decline at 1856.040 USD. More developements: Here are prior developements from 16th April 2021: Here we outlined our long term targets that were already met. Disclaimer: This analysis is not intended to encourage buying or selling of any particular securities. Furthermore, it should not serve as basis for taking any trade action by individual investor. Your own due dilligence is highly advised before entering trade.
OANDA:XAUUSDLong
by Tradersweekly
4
Technical analysis update: XAUUSD (16th April 2021)Gold has been steadily climbing up since 8th March 2021 when hitting low of 1676.866 USD per ounce. This low was subsequently retested for the second time on 31st March 2021 when price halted its decline at 1677.954 USD per ounce. This is bullish sign for gold, altogether with the fact that gold currently trades around median trendline (white dashed line) of downard moving channel (2 parallel white lines). Technical analysis of MACD and RSI further support bullish case for gold. Our price target for gold is 1900 USD per ounce by year's end. Disclaimer: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not serve as basis for taking any trade action by individual investor. Your own due dilligence is highly advised before entering trade.
OANDA:XAUUSDLong
by Tradersweekly
4
Technical analysis update: XAUUSD (6th May 2021)As we yesterday correctly predicted breakout above 1800 USD and hitting target of 1805 USD, we would like to update our forecast. RSI and Stochastics remain bullish while MACD is neutral. Previous resistance at 1799.16 USD became new support for gold. We believe that gold has a chance to maintain its momentum and possibly hit our previously mentioned medium term price target of 1825 USD within few days. Thus, our new medium term price target is 1850 USD per ounce. Disclaimer: This analysis is not intended to encourage buying or selling of any particular securities. Furthermore, it should not serve as basis for taking any trade action by individual investor. Your own due dilligence is highly advised before entering trade.
OANDA:XAUUSDLong
by Tradersweekly
suitable time for buy GOLDTrading suggestion: There is a possibility of temporary retracement to the suggested support line (1678). If so, traders can set orders based on Price Action and expect to reach short-term targets. Technical analysis: XAUUSD is in a downtrend, and the continuation of the downtrend is expected. as you see XAUUSD is in the bearish daily channel and as long as it is the overall downtrend but we can take a buy on the downtrend of the channel around 1670-1680 and take a safe profit until 1720 - 1740 so pls be patients and let it to end its correction The RSI is at 27 !!! MFI 18 !!! let me show the daily chart too Your Support is very much appreciated!❤️ . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . . . . . . . . . . . Drop some feedback below in the comment! Trade well, ❤️
OANDA:XAUUSDLong
by navid97
XAU A lot of confluence here on the bottom trend line of my leading diagonal & the bottom trend line from the March 2020 lows, so much bearish sentiment in XAU currently & also $DXY seem about done with the push. On top of all that yields seem ready to drop, we could have a nice set up for XAU to at least retest the ATH's & breaking that opens the door for $2400. Miners seem all about done & also they r so bloody wrecked that if I had extra $$$$ I would load up on those gold miner stocks IMO. Anyway just my thoughts guy always DYOR. Good Luck!
SAXO:XAUUSDLong
by Big_Mike716
2