Weekly XAU/USD 16th - 20th August Forecast
Hello,
This is the Weekly forecast for the gold. I can't say much as I just drew the lines where I think it'll eventually tap in during the week. I drew somewhat of a trajectory, what I am thinking the gold will do. There is 2 scenarios. Bullish movement I marked up as green and Bearish I marked as red.
If we get the bullish momentum that we are looking for the market will tap in to 1795 and then I am looking for the test of 1804 and eventually 1830.
If we don't get the bullish momentum and the bears are coming in to the market we will fall back to 1749 and maybe even 1725. I think after that the market will consolidate.
Let me know in the comments what do you think about gold.
Happy trading,
LoneFX (CocoTradesFX)
This is the Weekly forecast for the gold. I can't say much as I just drew the lines where I think it'll eventually tap in during the week. I drew somewhat of a trajectory, what I am thinking the gold will do. There is 2 scenarios. Bullish movement I marked up as green and Bearish I marked as red.
If we get the bullish momentum that we are looking for the market will tap in to 1795 and then I am looking for the test of 1804 and eventually 1830.
If we don't get the bullish momentum and the bears are coming in to the market we will fall back to 1749 and maybe even 1725. I think after that the market will consolidate.
Let me know in the comments what do you think about gold.
Happy trading,
LoneFX (CocoTradesFX)
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.