Xauusdforecast
XAUUSD: Big Swing Buy Coming Up Worth 2200+ PIPS! Dear Traders,
Gold rejected at $2450 and dropped more than 1200+ pips, indicating a strong bearish takeover. Still we expect the same to continue, as bearish momentum is so strong that price ranged between 2330-2340 area for a long period on Friday. Which suggested that bears large number of volume Is still there in the market. Going forward, we can expect price of Gold to drop around 2280-2290 this key level remain strong for buyers. That move will be worth thousands of pips we expecting around 2200 pips if not more targeting 2500$ which will be record high.
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XAUUSD: Next week we can see bullish dominance: 2000+ pips move!Dear Traders,
Upcoming weeks we can see strong bullish price momentum to continue, price successfully rejected at 2290 and then rebounded strongly. Another confirmation that we have is when price reconfirmed the 2300 area where we saw how strongly price moved. These are the two main confirmation that has given us enough confidence to be sure of how upcoming direction the price can be going towards.
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Gold prices may skyrocket this weekBuy
2322-2320
TP 2330 - 2345
SL 2310
Forecast
James Stanley - senior marketplace strategist at Forex.com - is one of the specialists forecasting gold charges to upward push subsequent week: "I am looking longer-time period variety resistance, round 2,075 -2,082 USD/ounce for long run support".
Sharing the equal opinion, Colin Cieszynski - Chief Market Strategist at SIA Wealth Management said: "I am positive approximately gold subsequent week. It looks as if gold is prepared for a technical recovery."
In addition, thirteen Wall Street analysts participated withinside the Kitco News Gold Survey. Experts are drastically greater positive approximately the short-time period potentialities of valuable metals.
eight specialists (accounting for 62%) count on gold charges to upward push better this week. Only analysts (or 15%) are expecting charges will decline. The last 3 people (equal to 23%) count on gold to exchange sideways subsequent week.
Meanwhile, 216 votes had been solid in Kitco`s on line poll. Of these, 117 traders (equal to 54%) are expecting gold charges will boom subsequent week. Another forty nine people (equal to 23%) are expecting valuable metals will lower in price. While 50 people (equal to the last 23%) forecast that gold charges can be flat subsequent week./.
XAUUSD Top-down analysis Hello traders, this is a complete multiple timeframe analysis of this pair. We see could find significant trading opportunities as per analysis upon price action confirmation we may take this trade. Smash the like button if you find value in this analysis and drop a comment if you have any questions or let me know which pair to cover in my next analysis.
XAU/USD 14 June 2024 Intraday AnalysisH4 Analysis:
Analysis/Bias remains the same as analysis dated 11 June 2024.
-> Swing: Bullish.
-> Internal: Bearish.
Price has continued to trade to the downside
Price has now printed a bullish CHoCH which indicates initiation of bullish pullback phase.
Strong swing low is expected to hold, however, it would be worth noting the swing low must be taken as the weekly and daily TF's are both in pullback phase.
Previous intraday expectation dated 10 June 2024 was for price to price to print bullish CHoCH, trade up to premium of internal 50% EQ before targeting weak internal low.
Price has printed a bullish CHoCH which is indicative of bullish pullback phase initiation.
Intraday expectation: Price to continue bullish, react at premium of 50% EQ or H4 POI before targeting weak internal low.
H4 Chart:
M15 Analysis:
-> Swing: Bullish.
-> Internal: Bullish.
Price printed a bullish iBOS following US CPI data release 12 June 2024.
Price has printed a bearish CHoCH indicating, but not confirming bearish pullback initiation following bullish iBOS.
Price has reacted from H4 POI.
Intraday expectation: Price to target weak internal high.
Alternative scenario is price could target strong internal low as H4 internal structure is bearish.
M15 Chart:
Will gold continue to rise?Short-term gold continues to rise. Gold is still maintaining a strong and volatile trend along the short-term moving average on the daily trend. The price fell back after touching the early pressure zone, but the continuation was not very good and it continued to pull as expected. , but we need to see how the daily line closes today. Judging from the current trend, there may be room for continued growth on the daily trend. If it closes above 2378 in one hour, it will further hit 2400, or even the previous high! Therefore, radicals can choose to go long in light positions at 2375! On the whole, today's gold short-term operation thinking is Xu Xin's suggestion to focus on longs on callbacks, supplemented by shorts on rebounds. The top short-term focus will be on the 2395-2400 first-line resistance, and the bottom short-term focus will be on the 2372-2370 first-line support.
Latest gold analysisGold rebounded today relying on support near 2332, and the European market rebounded to around 2348. At present, the long and short positions are not very clear. 2355 is the key and watershed. The short-term trend is somewhat strong, and there may be an upward impact test in the evening. At the top, focus on the key watershed of 2355, and on the bottom, focus on the breakdown of the 2340 mark and the support in the area near 2332