Gold :: A drop in the price of gold .XAUUSD :::
The downward trend continues and the next target is expected to be the 1630 range .
Xauusdanaliz
⭕Best BUY area for GOLD 💣💥🔰You can see the analysis of gold in the 2-hour time frame(XAUUSD _ 2H)🔍🔥
✴️As it is clear from the picture, the price of gold is falling. The best area for buying with low risk is the DEMAND zone, which is likely to have up to the upward RESISTANCE line(🧡) if it reaches the DEMAND zone (of course, you should pay special attention to the down trend line (black🖤 line)) and if it can move the resistance line(🧡) to the If it breaks above, it will probably experience another rise until the overlap of the SUPPLY zone and the downtrend line (🖤)🧐🧨
Do you think this analysis can be profitable❓❓
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__________📈TRADER STREET📉___________
XAUUSD (GOLD)he short-term rally from the March 2022 low encountered solid resistance around $2,000 and has been trading is a correction mode over the past week. The technical selling pressure came along aggressive monetary policy tightening expectations from the Federal Reserve and U.S. Dollar and bond yields at multi-year highs. The entire commodity sector was hard hit over the past few days on demand concerns, as Covid-19 cases in China, the world’s second largest economy are spreading rapidly, extending lockdowns to Beijing. Short-term traders should monitor key support of $1,890 as a break below it will signal an extension of the current pull back to $1,870. On the other hand, a rise above minor resistance of $1,907 would suggest a short-term rally to $1,920 is likely.
GOLD (XAU/USD) can be tricky!Hey tradomaniacs,
I`m currently waiting for the FED to give the market more fundamental impulses.
Looking at GOLD (XAU/USD) we can see a retest of the current trendline forming a potential rejection ad the monthly resistance.
Fundamentally GOLD can be very tricky as we dont know how the stocks react to a potential tapering.
A risk-off in stocks is actually good but at the same time it would mean that the market is going to price in highere interest-rates in the future, which is basically BAD for Gold as a "no-interest-asset".
Gold would become less attractive compared to interest-related assets such as bonds and other safe heavens which are attractive during a sell-off in equities.
On the other hand we could see rising stocks in different sectiors and with that hedges in GOLD.
However, technically we can see great opportunities on both sides.
Let`s see! :-)
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Peace and good trades
Irasor
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XAU/USD tries to leave channel up Morning outlook - XAU/USD tries to leave channel up
A release of the US employment data last Friday predictably stopped the gold from losing value against the buck. In result of the surge that was also strengthened by growing fears over the North Korean crisis, the pair has practically broke through the upper boundary of a dominant ascending channel.
From a fundamental side, today the Dollar is not expected to have any news that could motivate it to start to recover.
From a technical side, the further surge is obstructed by the updated weekly R1 at 1,339.42 and then by the monthly R1 at 1,348.36. In the meantime, the southern side has a barrier-free area up until the 55- and 100-hour SMAs that are located slightly above the weekly PP a 1,315.75.
An average market sentiment point out on a rebound, as 62% of traders remain bearish on the given exchange rate.
XAU/USD surges above 1,316.50Morning outlook - XAU/USD surges above 1,316.50
During the whole previous trading day, the yellow metal was continuing to appreciate against the US Dollar. The only barrier that managed to stop the surge was a combined resistance level formed by the monthly R2 at 1,315.30 and the weekly R3 at 1,316.51.
On the one hand, today the buck should try to restore some of the lost positions. On the other hand, the bullion now has a new, solid support level, which it can use to try to reach a new target, such as the monthly R3 at 1,359.22 or a long-term ascending channel's upper boundary near 1.350.00. Even though the market sentiment remains mixed, the second option in the nearest future seems a more viable scenario.
But in the meantime, there is also a need to take into account an effect from escalation of the North Korean crisis and a release of data on the US CB Consumer Confidence today at 14:00 GMT as the subsequent weekly releases.
XAUUSD Likes to drop and touch lower levelsXAUUSD likes to drop down and reaches to targets 1253 and 1241.
SellStop at 1259, SL: 1266 and TP: 1253, 1241
