XAU/USD Daily Forecast 16th August
Hello traders,
This is the Daily forecast for the gold. The gold had a very bullish week let's see if it will continue and will it tap into 1795. I see it as the main target right now.
Break of 1782 indicates buys. I see if the market breaks this level it'll continue to go up for that 1795. As we have clean candles to the left.
If the bullish momentum doesn't kick in, I marked up 1756.7 a potential retest level of this market. As on the higher time frame it was the last resistance now acting as a support.
I am looking for sells if we get a break of 1776.5 to all the way down to 1757.
For the premium buys I have set out 1746 as I think if we ever reach to that level it is very cheap to buy this market.
Let me know in the comments what do you think the gold will do?
Best regards,
LoneFX (CocoTradesFX)
This is the Daily forecast for the gold. The gold had a very bullish week let's see if it will continue and will it tap into 1795. I see it as the main target right now.
Break of 1782 indicates buys. I see if the market breaks this level it'll continue to go up for that 1795. As we have clean candles to the left.
If the bullish momentum doesn't kick in, I marked up 1756.7 a potential retest level of this market. As on the higher time frame it was the last resistance now acting as a support.
I am looking for sells if we get a break of 1776.5 to all the way down to 1757.
For the premium buys I have set out 1746 as I think if we ever reach to that level it is very cheap to buy this market.
Let me know in the comments what do you think the gold will do?
Best regards,
LoneFX (CocoTradesFX)
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