SpicyPips

SpicyPips Updated 

OANDA:XAUUSD 4H Chart Current Price: 2494.700 As of the latest price action, OANDA:XAUUSD is currently trading at 2,494, testing a critical resistance zone marked by the neckline at 2,500. The formation of a Rounded Top indicates a potential bearish reversal pattern, with sellers gaining control as the price fails to break above the neckline. Key...

SpicyPips Updated 

Current Market Activity: Given the recent market activity, where an inverted head and shoulders pattern formed on the Daily chart, the neckline was broken, but the price faced resistance at the 8/8 Murray level, reversed to the 0/8 level, and then rose to break the 5/8 level, and considering the rising volume and MACD signal line crossover, here’s how to...

SpicyPips Updated 

1H Timeframe Current Price: 2503.40 The Gold Spot (XAU/USD) recently broke below the critical 2500 level but has rebounded to 2503.40. This recovery above the major Support/Resistance pivot point at 2500 is crucial and indicates potential bullish resilience in the market. Key points: 1-Murrey Math Lines: The price briefly dipped below the 1/8 Major S/R Pivot...

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Timeframe: 30-Minute Chart Current Price: 2512.49 Technical Overview: OANDA:XAUUSD is currently trading within a well-defined parallel channel on the 30-minute chart. The recent price action has seen a decisive breakout above the Head and Shoulder's neckline and the resistance level at 2509.76, indicating a continuation of the bullish momentum. Additionally,...

SpicyPips Updated 

On Friday, while analyzing the 4-hour chart, we observed that Gold managed to rise above 2475, indicating the start of a bullish trend. In our previous analysis, we mentioned that as long as Gold remained below 2475, it was considered to be in a bearish channel. On the 30-minute chart, we observed that XAUUSD began rising from 2486 within a parallel channel. This...

SpicyPips Updated 

XAUUSD fell sharply from 2480 due to US inflation data. After rebounding from 2438, it is now trading around 2456, with potential to reach the 2468 level (7/8 on the Murray Math). As it approaches 2468, which is a strong resistance level, there may be an opportunity to sell, with a target profit at 2438. Due to the strong support level, after consolidation, Gold...