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Goldusd

What Will Gold Do?Gold seems to be moving farther and farther down, and what is interesting about the price it's currently at, is how it's trading right on top of the Fibonacci 100% zone. This can either result in a retracement back close to it's 61.8% zone, or it can drop down steeper to it's 161.8% zone. With prices trading around $1,735, means it is sitting in between a current buy zone and sell zone. Determining which one it will reach first depends solely on the momentum either side brings to the table. Bulls could push the price back into a sharp reversal or they can allow the bears to keep dragging prices lower and lower. If Gold can close below it's 100% zone, that will only confirm that it's next possible price target will be down near it's first sell zone out of three. Best thing to do is watch and see if prices start to drop further and you can grasp a sell position going towards the $1,600 price area. However if prices continue to move higher, I wouldn't look for a buy position until it at least recovers 50% of the loss it's already suffered from, or once the trend has completely switched bullish.
OANDA:XAUUSD
by BBDaBoss
GOLD (XAUUSD): Important Zone to Watch Next Week 🥇 Hey traders, This week was very bearish for Gold. We saw 5 consequent bearish days. The price is trading within a peculiar confluence zone at the moment. It is based on fib.retracement levels and a wide horizontal demand area. I believe that the market is quite oversold now and we may see a pullback. As a confirmation, you can consider buying a bullish breakout of a falling wedge pattern on 4H time frame. I will watch gold carefully next week and will post an update once I spot a 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:XAUUSDLong
by VasilyTrader
15
GOLD (XAUUSD): Detailed Technical Outlook 🥇 A lot of questions about Gold. At the moment, the price is testing a solid confluence zone based on 382 retracements of the last 2 bearish impulses and a wide horizontal demand cluster. Analyzing intraday time frames, I spotted a falling wedge pattern on 4H time frame. I will be patiently monitoring the reaction of the price to its boundaries. I assume that its bullish breakout may trigger a nice pullback. I will post an update once I see a decent trading opportunity! ❤️If you have any questions, please, ask me in the comment section. Please, support my work with like, thank you!❤️
OANDA:XAUUSDLong
by VasilyTrader
5
Gold Trend 19/08Gold rallied to a new weekly low yesterday. The market opened at 1761 and traded range-bound early in the Asian and European sessions. The price touched the day-high at the US session opening, then the slide began. It touched the day-low at 1755, with the day's ending at 1758. The trend reversal signal has yet to appear, where the downtrend channel(1) is still dominating the S-T movement in the 1-hour chart. 1750(2) is still valid; if the price fails to clear the buying support within today, it should be able to stay within 1750-70(2) in the next 24-48 hours. The breaking of support 1755(4) has not yet been confirmed. If the price breakout from 1755(4), the downside target will be at 1730-40(5). S-T Resistances: 1765 1760 1755 Market price: 1752 S-T Supports: 1750 1740-43 1735 If you like our work, kindly give our team a thumbs up. Feel free to leave a comment; let us know what you think! P. To
TVC:GOLD
by 1uptick
Gold Trend 16/08 - 19/08Gold pulled back from 1800 yesterday. The price has kept on moving down since the market opened at 1801 back from the weekend. After almost 12 hours of sliding, it touched the day-low near 1772 at the US session opening. The day ended at 1778, down by USD 23. Gold escaped the uptrend channel on the 1-hour chart last week, and it has finally entered the period of consolidation after it cleared the support at 1785. Expect the price to be bearish, where 1773-1800 remains the trading range in the next few days. 1775 is the S-T resistance for now, and it will move lower toward 1755 if it clears the 1770 support. Gold has been rejected by 1800 in the past few trading days, and the price is now moving downward. Expect the price to consolidate toward 1758(4) or the 20-day MA. The 1680-1800(3) structure can be used as the trading range for M-T. S-T Resistances: 1800 1790-94 1785 Market Price: 1781 S-T Supports: 1780 1775-73 1770 If you like our work, kindly give our team a thumbs up. Feel free to leave a comment; let us know what you think! P. To
TVC:GOLD
by 1uptick