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Xauusddaily

XAU/USD tests dominant channel downXAU/USD tests dominant channel down In result of the surge that was triggered by two disappointing macroeconomic data releases as well as the rising 55- and 100-hour SMAs the price of yellow metal ended up at the 1,273.00 mark. The further advance seems unlikely, as the exchange rate faces resistance formed by the monthly PP and the upper trend-line of a four-month long dominant descending channel that supposedly started to transform into rising wedge formation. However, the overall market sentiment as well as allocation of pending orders suggest that rise of the bullion might continue. In case the pair crosses the above barriers, it will be free to climb up to the 1,287.15 level, which represents location of the 100-day SMA.
FX_IDC:XAUUSD
by UnknownUnicorn890690
XAU/USD relentlessly tries to reach monthly R1 at 1,298.00XAU/USD relentlessly tries to reach monthly R1 at 1,298.00 Despite release of better than expected American housing data the bullish pressure prevailed. To certain extent, the surge was supported by a combination of the 55-, 100- and 200-hour SMAs in conjunction with the monthly PP. However, the fact that the pair managed to break through the upper boundary of medium-term ascending channel and practically reach the monthly R1 at 1,298.01 suggests that traders were also concerned about discussion and vote on the new tax reform plan. At the moment, it is too early speak about dissolution of the above pattern, as it is possible to simply adjust its boundaries. In that case, the exchange rate is expected to start moving in the opposite direction and trying to reach the weekly PP at 1,287.22, which soon will become additionally strengthened by the rising 55-hour SMA.
FX_IDC:XAUUSD
by UnknownUnicorn890690
XAU/USD trades below moving averages XAU/USD trades below moving averages Using support provided by the 55-, 100- and 200-hour SMAs together with the monthly PP, the exchange rate managed to climb to the weekly R1 located at 1,287.92. In other words the pair has practically managed to form the third reaction high of a four-week long ascending channel. However, a release of widely expected American data created a momentum that enabled bears to return the rate back to the weekly PP at 1,277.10. Hence, all four abovementioned support levels turned into resistance. As they are all concentrated around the 1,279.00 mark, it is unlikely that bulls will manage to push the pair through them without new strong upside momentum. There is a need to notice that the similar situation has already happened in beginning of the week when the gold failed to climb upstairs after a solid strengthening of the buck.
FX_IDC:XAUUSD
by UnknownUnicorn890690
XAU/USD falls by 1.1% XAU/USD falls by 1.1% The exchange rate dropped by almost 1.1% on Friday in result of 10 minutes trade that moved about 4 million ounces of the precious metal. Nevertheless, the drop was generally anticipated, as it illustrated a breakout from the rising wedge formation on daily chart. In any case, there are two main options for further movement of the pair. As majority of traders remain bullish on the pair, they might try to elevate it to the pre-fall 1,283.90 level. However, the fact road to the north is obstructed by the weekly PP and the 200-hour SMA as well as the 61.8% retracement level and the monthly PP, the pair is likely to form either a flag or pennant pattern and then resume the downfall. Such scenario would also be in line with trade pattern theory.
FX_IDC:XAUUSD
by UnknownUnicorn890690
XAU/USD breaks from falling wedgeMorning outlook - XAU/USD breaks from falling wedge In result of the previous trading session, the exchange rate made a breakout from the falling wedge formation. The surge was not sharp, as the pair was slowed down by a combination of the 55- and 100-hour SMAs as well as the 61.8% Fibonacci retracement level. In first half of the day the pair is expected to test the 200-hour SMA near 1,284.77. The strength of this moving average most probably will force the pair to temporarily retreat. In larger perspective the yellow metal might notably recover against the buck, as the above breakout simultaneously signified a rebound from the bottom trend-line a one-month long ascending channel. In that case, there the pair is unlikely to reach the support line of a long term dominant ascending channel in the foreseeable future.
FX_IDC:XAUUSD
by UnknownUnicorn890690
XAUUSD : WATERFALLSHi traders! (This trade was already shared with students) I needed confirmation of the down move before going into this trade. Now that gold clearly broke support and close under it is what we needed. USDJPY also showed us the way! We will have a classic retracement of the up move with gold going for those FIB extension Here is what I'm thinking : XAUUSD SHORT: ENTRY : 1283.77 SL : 1289.67 TP : 1260.26 Trade safe! Disclaimer: This is my trading analysis, it is not an invite or recommendation to trade.
FX:XAUUSDShort
by ScottMescudiForex
2
XAU/USD surges in two channelsMorning outlook - XAU/USD surges in two channels Due to increase of the US Consumer Price Index, the yellow metal continued to advance against the buck simultaneously in two ascending channels. On the one hand, the pair is experiencing pressure from the 55- and 100-hour SMAs, which are continuously pushing it to the top. On the other hand, the pair faces a notable resistance level formed by the monthly PP at 1,304.85, which it has already failed to bypass once. There is a need to notice that intersection between the above two channels reminds another pattern, i.e. rising wedge. If this assumption is true, the pair has to make a breakout to the bottom somewhere between the 1,305 and 1,310 marks. However, if macroeconomic background will remain unfavourable, the rate most likely is going to surge to the 1,314 level.
FX_IDC:XAUUSD
by UnknownUnicorn890690
XAUUSD : POWER TRIP!Hi traders, Here we have a nice MM move with that daily wick after NFP happened. I always try to keep a close eye on this type of movement as it changes trends. This makes this entry a very nice RR trade. MACD divergence MM daily wick Heavy support at current price level Here's what I think : XAUUSD LONG: ENTRY : 1273.87 SL : 1259.93 TP : 1315.70 Trade safe! Disclaimer: This is my trading analysis, it is not an invite or recommendation to trade.
FX:XAUUSDLong
by ScottMescudiForex
XAUUSD : JUST FOMC THINGS..Hi traders, If you been following me you saw the call I made before the FOMC news dropped. We are already off in profit but I still will put up the analysis. We still need a break of the red line in the chart. If you look at the WEEKLY timeframe, a very nice bearish wick is now there and the MACD is about to go HAM on us. SL is already in profit Here was my take : XAUUSD SHORT : ENTRY : 1311.67$ SL : 1321.21$ TP 1 : 1236.82$ Trade safe! Disclaimer: This is my trading analysis, it is not an invite or recommendation to trade.
FX:XAUUSDShort
by ScottMescudiForex
XAU/USD continues to move downwardsMorning outlook - XAU/USD continues to move downwards In accordance with expectations, the surge of the gold price did not last for long, as the pair was turned around by the monthly PP located at the 1,300.00 level, which transformed from support into resistance. At the moment, there are certain signs that the rate is going to try to climb to the top again. However, this new attempt is expected to fail due to presence of the 55- and 100-hour SMAs plus the updated weekly PP, which altogether additionally strengthen the above resistance level. In addition to that, the further deprecation of the bullion against the gold is expected from a daily perspective, as the rate is fluctuating in a junior descending channel, which forms a part of a larger long-term ascending channel.
FX_IDC:XAUUSD
by UnknownUnicorn890690
XAUUSD : GIVING US THAT OLD.. ONE, TWO STEP!Hi traders! Gold may give us the same kind of pattern we saw on that last bull run it had before falling down to the abyss. MM looks again this week to flush every current long out before going back to its bullish ways. We have FOMC decision this week... and last time we had a Fed intervention in the market, we saw gold swing hard both ways (25$ swings) before going up. We will probably not see that hard of a swing but with FOMC right around the corner, we never know. Gold has one nice support now @ 1298. It may or not go there. I'm taking a safe approach of putting a buy limit right at a previous bull candle daily wick. MACD is still bearish and RSI is slowly going down too. Generally giving us a sign a downtrend still present for this pair. Here is the scenario I'm suggesting : XAUUSD BUY LIMIT : ENTRY : 1304.22$ SL : 1295.26$ TP 1 : 1337.40$ TP 2 : TRAIL Let's see how this week goes! Trade safe! Disclaimer: This is my trading analysis, it is not an invite or recommendation to trade.
FX:XAUUSDLong
by ScottMescudiForex
2
Gold long continued.Today we saw a "drop" of $5. Of course that's all it takes for the bears to flood TV with their sub 1200 predictions (they'd probably just be happy to close their current underwater positions at BE). One of the main issues people are having, is that they think this rally is solely due to the tensions with North Korea. As we've all seen with political tensions like this, every gold spike is given back. These "events" do not ever lead to held gains. To anyone who wasn't blind, you could clearly see there was a lot of momentum building under gold, and it was only a matter of time before we breached above the 1300 level. This was a very obvious trade, as long as you didn't have a predetermined bias. If this was purely a safe-haven trade, then we would have seen a stock market decline, and we would have seen heavy buying in the yen. If you take a look at the USDJPY, we did not make a new low in this currency pairing, yet we made a significant new high on the year in gold. That alone should tell you this run was not due the "NK scare". The USD, along with fiat currencies in general, are dying. With China banning ICO's, the country will turn to gold as an alternative to fiat currency. This baby gold bull during 2017 is due to people wanting to get out of fiat currencies (especially the USD), not because NK is doing what it's always done. With that being said, there are always small corrections during bull runs, and this bull run won't be an exception. IF we are to drop, and that is an IF, the two main buying zones will be the blue boxes on my chart. (1318-1322, and 1303-1307) GL to both sides of this trade.
FX_IDC:XAUUSDLong
by GeorgeJimas
6
XAUUSD : DEAR BEARS....Hi traders! What is this? Going along with the USD? Oh it seems like we are my friends! MACD just crossed and DXY is finishing strong this wednesday close. RSI is lowering and all other pairs are following suit. This is for the short term but it seems that USD will be taking some breather and regain some of those losses before going back to that weakness that we came so accustomed to! XAUUSD SHORT : ENTRY : 1322.28$ SL : 1328.88$ TP 1 : 1308 TP 2 : 1300 OR 1296 (ON A QUICK DIP) Trade safe! Disclaimer: This is my trading analysis, it is not an invite or recommendation to trade.
FX:XAUUSDShort
by ScottMescudiForex
XAU/USD finally breaks weekly R1Morning outlook - XAU/USD finally breaks weekly R1 The way the yellow metal moved yesterday gives us an important clue for the further analysis. First, the buck failed to drag the pair down through the 55-hour SMA. Second, the gold managed to recover and break through the weekly R1 at 1,339.42. These facts suggest that the today the exchange rate most likely will fail once again to sneak to the bottom. And in the meantime, it has a good chance to try to reach the monthly R1 at 1,348.36, using the abovementioned support. However, both these assumptions hold true until a release of the US ISM Non-Manufacturing PMI at 14:00 GMT. An effect from this data release might either help the bullion to jump even higher, or will strengthen the buck and push the pair closer to the 100-hour SMA.
FX_IDC:XAUUSD
by UnknownUnicorn890690
XAU/USD slips to 1,303.75Morning outlook - XAU/USD slips to 1,303.75 Yesterday the American Dollar continued to strengthen against the yellow metal and even managed to form a little descending triangle, whose lower support line matched with the upper boundary of a former long-term ascending channel. In the early Thursday morning the bullion lost another 0.33% and slipped below the 100-hour SMA. On the one hand, a forming downtrend suggests that the plunge can continue at least until the 200-hour SMA near 1,295.80. On the other hand, over the last three days appreciation of the buck was mainly driven by various fundamental events. In contrast, today there will be no significant data releases that could give the Dollar a necessary impulse for the further surge.
FX_IDC:XAUUSD
by UnknownUnicorn890690
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.
FOREXCOM:XAUUSD
by UnknownUnicorn890690