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Goldusd

Gold (XAUUSD): Multiple Time Frame Technical Outlook 🟡 Gold has recently violated a key daily structure resistance. The price has nicely respected that after a retest and the market keeps growing now. The momentum definitely started to slow down. I spotted a rising wedge pattern on 4H and a contraction of a price action. If you want to buy gold, the best strategy will be to buy after a pullback I would suggest looking for a bearish breakout of the wedge. Its violation will most likely initiate a correctional movement. There are 2 safe points to look for buying opportunities: 1871 - 1879 support and a major rising trend line. I will post an update once I spot a decent trading setup. ❤️Please, support my work with like, thank you!❤️
OANDA:XAUUSDShort
by VasilyTrader
7
There might have to ways for gold - personal analysis In the 1 hour frame I did noticed there is a triangle pattern in up trend which may indicate a possible of a down trend until it hit the strong support levels 1916, and it should go and hit 1929 and keeps going until it hits the level 1937. reminder this is to increase knowledge in trading and exchange opinions so pleas be aware and do your research before taking an action /put a trade order. personal analysis and not an advice. Please comment if you have any other ideas.
TVC:GOLDLong
by cn_s
2
Gold holding above $1,900. But for how long? Gold has rallied by more than $300 per ounce over the last 10 weeks with only a brief period of consolidation around $1,800. Now, gold is tentatively holding above $1,900, after reaching $1,929 in yesterday’s trade, before closing the day slightly lower. On the Hourly chart we are witnessing a period of consolidation. The hourly chart also provides a clear example of the gold price continually butting up against $1,900 before breaking through, re-testing the level from above and below, before a more emphatic break to the upside. This is the kind of price action that can be used to bolster the case for physiological levels playing an important role in technical analysis. The reason I described gold holding above $1,900 as tentative is because the RSI is indicating that gold is still in extreme overbought conditions (above 70.00) on the daily, and right in the middle on the hourly (50.00). However, some traders may be looking for further upside and for gold to test the $2,000, unless the US Federal Reserve looks to hike interest rates by 50-basis-points at its next meeting at the end of this month. On the side of the bulls, with the data released last Thursday, we learned that US annual inflation fell to 6.5% in December to its lowest level in more than a year, declining for a sixth straight month. Even though most of the market is expecting a 25-basis-points hike at the Feds next meeting (Jan 31 – Feb 1), a 50-basis-point rate hike is still on the table, as noted by several Fed presidents.
BLACKBULL:XAUUSD
by BlackBull_Markets