Here is our view and update on XAUUSD. Potential opportunities and what to look out on the pair and sharing possible entries and important Key Levels.
Alright so, we have completed our long-term analysis on
XAUUSD here we can take a look at it now:
We got a lot of questions such as; what will gold do now? Buy or sell? Let’s break it down.
XAUUSD is currently trading at around 2750s. We are sharing a few possible scenarios on gold and these scenarios are written from just a TA (Technical Analysis) point of view.
Scenario 1: BUYS
-We above 2763.
With the break of today’s highs at 2763 we can expect more upside on gold potentially slowly coming up to golds ATH (All Time High) sitting at 2790. With this in mind we can buy in at the breaks of 2763.
Scenario 2: SELLS
-We broke below 2750.
With the break of 2750 we can expect more sells on gold after such a massive upside move. As long as we are trading below 2750 we can expect pullbacks down to 2720s or deeper pullbacks even up to 2700. Keeping this in mind, we can hop into sells at the breaks of the 2750 Key Level.
IMPORTANT KEY LEVELS:
-2763; breaks above would result in gold revisiting ATH (All Time High)
-2750; breaks below would result in sells
-2740; breaks below confirming lower levels
-2720; breaks below confirming lower levels
-2690; breaks below would confirm gold is bearish and we should see lower levels (2590..)
Personal opinion:
After gold has completed our longterm pre-planned analysis and has made such a massive upside move, we can expect some short term sells. Be careful at the breaks of mentioned levels and don’t rush into trades. As of now we are in a “no trade zone” until we break either to the upside or downside.
KEY NOTES
- XAUUSD breaking above 2763 would confirm buys and higher levels.
- XAUUSD breaking below 2750 would confirm sells.
- Breaks below 2740 would confirm lower levels.
- Trades are only valid if we break the mentioned levels.
Happy trading!
FxPocket
Alright so, we have completed our long-term analysis on
XAUUSD here we can take a look at it now:We got a lot of questions such as; what will gold do now? Buy or sell? Let’s break it down.
XAUUSD is currently trading at around 2750s. We are sharing a few possible scenarios on gold and these scenarios are written from just a TA (Technical Analysis) point of view.
Scenario 1: BUYS
-We above 2763.
With the break of today’s highs at 2763 we can expect more upside on gold potentially slowly coming up to golds ATH (All Time High) sitting at 2790. With this in mind we can buy in at the breaks of 2763.
Scenario 2: SELLS
-We broke below 2750.
With the break of 2750 we can expect more sells on gold after such a massive upside move. As long as we are trading below 2750 we can expect pullbacks down to 2720s or deeper pullbacks even up to 2700. Keeping this in mind, we can hop into sells at the breaks of the 2750 Key Level.
IMPORTANT KEY LEVELS:
-2763; breaks above would result in gold revisiting ATH (All Time High)
-2750; breaks below would result in sells
-2740; breaks below confirming lower levels
-2720; breaks below confirming lower levels
-2690; breaks below would confirm gold is bearish and we should see lower levels (2590..)
Personal opinion:
After gold has completed our longterm pre-planned analysis and has made such a massive upside move, we can expect some short term sells. Be careful at the breaks of mentioned levels and don’t rush into trades. As of now we are in a “no trade zone” until we break either to the upside or downside.
KEY NOTES
- XAUUSD breaking above 2763 would confirm buys and higher levels.
- XAUUSD breaking below 2750 would confirm sells.
- Breaks below 2740 would confirm lower levels.
- Trades are only valid if we break the mentioned levels.
Happy trading!
FxPocket
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.