In the European market on Tuesday, spot gold maintained its intraday rebound trend, with the price of gold now trading at around $1,998 per ounce. Gold's bullish potential remains intact. Gold prices are gearing up for the next round of gains.
Additionally, ongoing geopolitical tensions between Hamas and Israel, as well as jitters ahead of the Federal Reserve's...
Hello guys, I hope you're all doing well. As for the obvious downtrend chart pattern we have for gold, I think there are two possibilities:
1. The price will turn back up until the upper downtrend line and then return.
2. The price will continue falling until 1887.
In my opinion, if the price turns back upside, it won't have as much strength as if it...
Technical Analysis Summary
XAU/USD
TREND ANALYSIS
We have 1 Uptrend Trend in Green (Long Term)
Be careful trends need to be modified when broken to the new peaks(Downtrend) and lows (Uptrend).
FUTURE PREDICTIONS
We have many resistance and support levels that I have mentioned above.
I use thickness as an indicator of strength of levels (ONLY FOR VISUALS).
White...
OANDA:XAUUSD
This is the outlook from the D1 TIMEFRAME
I am hoping the price break that 1774.00 price line.
When it does break this following price, it could be a Bullish market take over to the end of the year.
GOLD must end on a strong note.
Price facing support at 1639.47 & has a possible resistance at 1659.13. now we can look for long trades if the resistance is broken & we can look for short trades if the support is broken.
Price facing recent support at 1667.16 while retesting the uptrendline & also price facing resistance at 1679.46. so if price break & closes above the resistance while respecting the support & uptrendline then price might continue to come up to the next resistance at 1691.67.
However if price breaks out of the support, that would also be a breakout of the uptrend...
Gold after the bearish engulfing move from yesterday, formed a bit of structure with a recent resistance at 1708.53 & support at 1696.67. now we are looking for trades on the breakout of the structure. so if price respects the recent resistance & makes a breakout of the support at 1696.67 then price continue pushing down to next major support zone at 1681.93....
Price facing strong price rejection from the resistance level at 1726.90 & currently retesting a recent support at 1718.21. so if price continues to respect the resistance at 1726.90 & breaks below the recent support at 1718.21 then it could continue coming down to retest the next support at 1713.78 & retest the uptrendline as well.
Daily momentum just picked up on XAUUSD (GOLD ), daily structure and trend is bullish. We will be monitoring price action at the marked zone if or when it comes back to collect liquidity.
