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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
XAUUSD have chance to long term BULLISH# Disclaimer on, just sharing not advise to buy or sell I open the chart in very high timeframe which is you can see above in 3 Month. So as you can see long term investment in Gold actually in Bullish Trend although a few times before actually GOLD move in ranging price between 1650 until 2000. But, in the ranging market I believe that the continuation of the market it can be either bullish or bearish after that. Then I have to looking for higher timeframe to see the helicopter view of the market. As you see above the price make a cup handle patterm which is the continuation to become Bull market. Target price of GOLD that I believed is around 3400 $/oz.
FX:XAUUSDLong
by YogaID
1
GOLD Weekly Volatility Analysis 9-13 Jan 2023 GOLD Weekly Volatility Analysis 9-13 Jan 2023 We can see that currently the implied volatility for this week is 2.25% With this in mind, currently from ATR point of view we are located in the 0th percentile. Based on this, we can expect that the current weekly candles ( from open to close ) are going to between: *For calculations, I am using the data since 2022* Bullish: 1.6% movement Bearish: 1.8% movement At the same time, with this data, we can make a top/bot channel which is going to contain inside the movement of this asset, meaning that there is a 22.2% that our close of the weekly candle of this asset is going to be either above/below the next channel: TOP: 1910 BOT: 1821 Taking into consideration the previous weekly high/low, currently for this candle there is : 79% probability we are going to touch previous weekly high(already done) 29.27% probability we are going to touch previous weekly low Lastly, from the technical analysis point of view, currently from Daily timeframe indicates 92.86% BULLISH trend from the moving averages index Weekly timeframe indicates 92.86% BULLISH trend from the moving averages index Monthly timeframe indicates 92.86% BULLISH trend from the moving averages index
TVC:GOLD
by exlux
Gold (XAUUSD): Detailed Technical Outlook 🟡 Hey traders, Here is my multiple time frame technical outlook on Gold. Analysing a weekly time frame, I spotted a solid horizontal supply area. 1870 - 1920 is the zone from where a bearish wave may initiate. On a daily time frame, the price is steadily growing within a rising parallel channel. For now, I would consider trading its boundaries: selling its resistance and buying its support. Alternatively, a bearish breakout of its support may trigger a massive sell-off. I will post an update once I see a decent confirmation. Good luck next week! ❤️If you have any questions, please, ask me in the comment section. Please, support my work with like, thank you!❤️
OANDA:XAUUSDShort
by VasilyTrader
13
🥇Gold🥇 Analyze (Short term, 01/06/2023)!!!It seems Gold is making the rising wedge. I published two positions with you (Long&Short). We must find a trigger to open a short position (carefully). Gold Analyze ( XAUUSD ), Timeframe 15min⏰. Do not forget to put Stop loss for your positions (For every position you want to open). Please follow your strategy, this is just my idea, and I will be glad to see your ideas in this post. Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
OANDA:XAUUSD
by pejman_zwin
2
🥇Gold🥇 Analyze (Short term, 01/05/2023)!!!Gold reacted well to the heavy resistance zone. Gold is moving in a descending channel after reacting to a heavy support zone. From where we can see a regular divergence (RD-) between the MACD indicator and Gold price, and also in the RSI indicator, a head and shoulders pattern was formed, and it is expected that gold will decrease at least after the breaking of the uptrend line to the support zone and support lines.👇 Gold Analyze ( XAUUSD ), Timeframe 1H⏰. Do not forget to put Stop loss for your positions (For every position you want to open). Please follow your strategy, this is just my idea, and I will be glad to see your ideas in this post. Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
OANDA:XAUUSDShort
by pejman_zwin