GOLD/USD Technical Analysis for 18/12/2023
Disclaimer: GOLD/USD Weekly Analysis
The information provided in this GOLD/USD weekly analysis is for educational and informational purposes only. It is not intended as financial advice or a recommendation to buy or sell any specific asset, including gold or the U.S. dollar.
Trading and investing in financial markets involve risks, and past performance is not indicative of future results. The analysis presented here is based on historical data, technical analysis, and market trends, which may not accurately predict future movements.
The analysis may be subject to change without notice, and the accuracy of the information cannot be guaranteed. Users are advised to conduct their own research and seek the advice of a qualified financial professional before making any investment decisions.
The author and/or publisher of this analysis shall not be held responsible for any losses or damages arising from the use of the information provided. Users should be aware of the inherent risks associated with trading and should only participate in the financial markets with funds that they can afford to lose.
By accessing and using this analysis, you acknowledge and agree to the terms of this disclaimer. The analysis is not an offer or solicitation for the purchase or sale of any financial instrument.
GOLD/USD Weekly Analysis Predictions:
As of the latest observation, the gold price stands at 2019.540. The analysis suggests a potential downward movement, with an initial target of 2009. Following this decline, a retest is anticipated within the range of 2037 to 2040. However, caution is advised as the price may experience resistance and potentially reverse course. Subsequently, there is a forecasted retracement to around 1987. It is crucial to closely monitor the market, specifically looking for confirmation through the closing of 4-hour or daily candles below the 1987 level. A sustained break below this point could trigger a further descent, with downside targets set at 1977 and 1973.
It is important to note that predictions in financial markets are subject to inherent uncertainties, and external factors can impact price movements. Traders and investors are urged to exercise prudence, conduct their own analysis, and consider risk management strategies when making trading decisions. The market is dynamic, and conditions may change, so staying informed and adapting to evolving circumstances is essential.
The information provided in this GOLD/USD weekly analysis is for educational and informational purposes only. It is not intended as financial advice or a recommendation to buy or sell any specific asset, including gold or the U.S. dollar.
Trading and investing in financial markets involve risks, and past performance is not indicative of future results. The analysis presented here is based on historical data, technical analysis, and market trends, which may not accurately predict future movements.
The analysis may be subject to change without notice, and the accuracy of the information cannot be guaranteed. Users are advised to conduct their own research and seek the advice of a qualified financial professional before making any investment decisions.
The author and/or publisher of this analysis shall not be held responsible for any losses or damages arising from the use of the information provided. Users should be aware of the inherent risks associated with trading and should only participate in the financial markets with funds that they can afford to lose.
By accessing and using this analysis, you acknowledge and agree to the terms of this disclaimer. The analysis is not an offer or solicitation for the purchase or sale of any financial instrument.
GOLD/USD Weekly Analysis Predictions:
As of the latest observation, the gold price stands at 2019.540. The analysis suggests a potential downward movement, with an initial target of 2009. Following this decline, a retest is anticipated within the range of 2037 to 2040. However, caution is advised as the price may experience resistance and potentially reverse course. Subsequently, there is a forecasted retracement to around 1987. It is crucial to closely monitor the market, specifically looking for confirmation through the closing of 4-hour or daily candles below the 1987 level. A sustained break below this point could trigger a further descent, with downside targets set at 1977 and 1973.
It is important to note that predictions in financial markets are subject to inherent uncertainties, and external factors can impact price movements. Traders and investors are urged to exercise prudence, conduct their own analysis, and consider risk management strategies when making trading decisions. The market is dynamic, and conditions may change, so staying informed and adapting to evolving circumstances is essential.
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.