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Gold Weekly Analysis: Breaks Above TLR April (11 - 15), 2022Technically, gold has again gone into bullish mode. However, there was no solid fundamental issue like going into gold bullish mode last week. But somehow, the gold breaks above the Near-Term Trendline Resistance level. Although gold has broken above the trendline resistance, it will not be in long-term buy mode until gold stabilizes above $1951 ( Immediate Resistance Level). As the market closed below the resistance level, there is a chance that gold may go into a downside correction if gold is unable to break above the strong resistance zone of the $1951 price zone. But if somehow, gold manages to stabilize above the $1951, we must go long, and our first target will be $1975 (Immediate Resistance and Swing High). 2nd Target $1975 and Final Target $2000. On the other hand, if gold goes into a downside correction in the next week, as I am expecting, It may drop to the $1935/1937 price zone. I think gold will bounce one more time from that level. But as long as gold is above the $1915/1910 price zone, gold will still be considered an uptrend. An uptrend will be invalid if the gold price breaks below its strong support level of the $1915 price zone. If gold breaks below the $1915/1910 price zone, we may see a big drop to the $1830 price zone. However, I am not expecting this to happen very soon, as long as Russia-Ukraine issues exist. Instead, if the European Union added Ukraine to the Eurozone, it may be more problematic, and gold may test the $2000 price zone again. And most probably this is going to happen end of the month.
FX:XAUUSD
by Gold_Trading_Expert
9
DAILY GOLD ANALYSISAccording to Wall Street traders, they have reached their profit ******** And the Asian news that came out and the increase in interest rates could be the end of the gold climb ******** We are now in area 50 of Fibonacci who can approve the correction ********* And according to Elliott waves, we have entered phase 8 of the wave ******* My views are technical, if the United States wants to change the trend, it means there will be price manipulation. ******* Every market needs supply and demand. Now we have witnessed recklessness in gold trading. ******** Thank you for being with me so far
OANDA:XAUUSDShort
by ALIREZATR60
2
As long as gold is above 1950, it still has a chance for $2000For various reasons, gold still has the opportunity to test $2,000. If you notice the movement of gold, you will see that the tendency to rise is higher than dropping the gold price. There are many reasons behind the gold's upside bias. 1. Inflation has risen worldwide 2. Economic growth is declining 3. Russia-Ukraine war 4. Demand for Gold as a Safe Haven 5. New variations of Corona Apart from these, there are many other reasons behind the rise in gold prices. But there is a thing called prize action. Nothing in the world can be more expensive than oxygen. So the price action thing works for all assets. And because of price action, profit-taking is done at different rates, the uptrend market corrects down the side, and then the downtrend market corrects the upside as well. Since gold has been overpriced based on the RSI, the correction is slightly expected to the downside. But as long as the gold price is above $1950, it is more likely to be in long-term buy mode. There is a minor resistance from the current rate at $1982. If the gold price can break above $1982, gold will probably go straight to $2000. Since the Fed will raise the bank rate next month, FED's higher bank rate is a big obstacle for the higher gold prices, and gold may drop a bit as an advance price-in. But ultimately, gold is in an uptrend and has the most possibility to test $2000 However, unless most of the issues mentioned above are resolved, gold may not wear out very much. So as long as the gold price is above $1950, the chances are high that it could test $2,000. Gold, however, could drop if the situation improves. If the gold is stabilized below $1940, it can test the 1920/1918 price. And down to the latest target of $1890/180. If you like my analysis, please like, comment and share please...
OANDA:XAUUSDLong
by Gold_Trading_Expert
Gold Analysis ahead of FOMC and Retail Sales $1850 on the card? There will be two major news will be released in the market today, both of which will have a significant impact on the price of gold. During the first half of the American session, the Retail Sales Report will be released, and the FOMC will release its report after its conclusion during the second half of the American session. The Federal Reserve will raise interest rates today; a 25 BP rate hike is already priced in the market. So, I don't think this will help the USD a lot against the gold. The big draw of today's FOMC meeting is how aggressively FED delivers their statement and what they are thinking of changing their dot plot. From the dot plot, we will learn about the long-term interest rate and how many times they want to increase their bank rates. According to the statement, the more aggressive it is, the more gold will be devalued. This is the first time the Federal Reserve is hiking bank rates since the outbreak of the Pandemic. Bear in mind that simply boosting a currency's interest rate does not make it stronger; instead, its monetary policy is more significant than whether the rate is raised or lowered. As a result, there is no reason to believe that gold will fall in value if the Fed raises interest rates. If FED delivers a dovish hike, then gold will rise. I believe that gold will gain strength during today's retail sales report, which will be released starting at the US season. In that circumstance, it is more possible that gold will test the level of 1940 first. Moreover, if the retail sales report prints below expectations, gold is more likely to test the $1950/1960 price zone. Now, what is it that the FOMC might do? I think FED will deliver a dovish rate hike to balance the economy and market. If FED delivers a hawkish rate hike, gold will be too weak than the dollar, and the USD will be too strong. A too-strong currency is detrimental to the economy because it hurts exports. So, I think FED won't take these risks. Moreover, FED may deliver a dovish rate hike. In that case, gold may fall first and test the $1900/1885 price zone. But if the United States wants Russia to be more disciplined in all aspects of its behavior, the Federal Reserve will raise the Hawkish interest rate. In that instance, gold may test the $1850 rice zone. Gold's Technical View Gold stays below the trendline support. So, technically gold is more likely to drop again with a slight correction to the upside nearly $1940/1950. The current gold rate has immediate support in the $1907 price zone. If gold breaks the $1907 price zone, then our 1st target will be the $1890 price zone, and if it breaks $1890, the final target will be the $1850/1855 price zone. Please support me by liking, commenting, and sharing if you like my analysis. Thanks.
TVC:GOLD
by Gold_Trading_Expert
12