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GOLD (XAUUSD): Your Trading Plan For Next Week 🥇 Hey traders, Gold finally reached a lower boundary of a major horizontal weekly trading range. As I predicted, the market bounced nicely from that. On focus is a falling parallel channel on a daily time frame now. While the market stays within that gold remains bearish. I would suggest waiting for its bullish breakout as a trigger for buying again. For now, be patient and let the market trade within the channel. 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
10
XAUUSD FUTURISTIC PRICE ACTIONPossible Gold wyckoff schematics formation to sponsor the price higher using the H4 Timeframe. This is supported by the rejection on the weekly Timeframe and leaving a confirmation as follows on the support zone of 1683-1680 * 3 touch of the support zone * A retest of the demand zone on h4 * And the 200 moving average resting on the zone. And multiple accumulation forming on the h1. Also paying attention to the structure... the weekly Timeframe is still an uptrend just hit it's retracement level. But it's better to wait for the schematics to be fully formed before trying to markup the phases. Patience is key. #Idon'tknowbetter
FXOPEN:XAUUSD
by simonadahjt
The Return of the Golden BullThe Return of the Golden Bull Technical Analysis - Gold has been in a 2 year consolidation, after a 7 year uptrend of over 90% from 2018 to 2020. - Price Action is contracting on a monthly basis, within a bullish pennant. - After an intermediate bear trend of 3 months, Gold is at a massive horizontal support, coming from the 2011 High. - Gold is also right above the rising trendline from the march 2021 low and above the falling trendline from the august 2020 high. - This might be a multi year buying opportunity for Gold, it is hard to put a price target on it, but I would assume around 4000$ could be achieved, if everything goes as expected. Fundamental Analysis - There is also a point to be made for gold, fundamentally. - We are at record inflation, tightening into slowing economic conditions. - Bonds are loosing massively, as are equities and Bitcoin. - Gold has been holding up rather well, despite the US10Y and the DXY rising relentlessly. - In my opinion this is an indicator, that Gold is still the true safe hafen asset to investors, in case of monetary debasement and simultaneously worsening economic conditions. Enter the trade - I am waiting for a short term trend change, as we are currently below the 5, 10, 20, and 50 day moving averages. - I want to see Gold above a rising 5dma, crossing the 10dma. - I am also looking for a weekly close above 1877$. - Gold has been awfully hard to trade in the past months, due to extremely choppy action, often giving daily buy and sell signals on the RSC Trend Trading Indicator, right after each other, so I will be cautious. This is not financial advice, I wish you good luck trading. Cheers Tom
TVC:GOLDLong
by Cyranus
2
GOLD (XAUUSD): Key Support Ahead 🥇 Analyzing a weekly time frame, we can spot a perfect horizontal trading range on Gold. This year, we saw a perfect bearish reaction from its resistance, the market started to fall sharply, and now it is closer and closer to the lower boundary of the range. On focus is 1610 - 1686 demand zone. From the underlined green area, I will expect a bullish movement. Wait for a confirmation on lower time frames before you buy! ❤️If you have any questions, please, ask me in the comment section. Please, support my work with like, thank you!❤️
OANDA:XAUUSDLong
by VasilyTrader
10
Gold trend 21/07Gold slipped to a 1-year low yesterday. The day began at 1711; throughout the day, the price was bounded by the 1706-14 range. The price went below 1700(2) before the day's end, touching the day-low near 1692. The day ended at 1696, down by USD 14. A new round of selling started after gold finally left the 1700-20(1) range. Expect the price to trade between 1680-1700 in the next 24-48 hours, where the critical support remains at 1680. As mentioned before, the buying above 1710(4) has been weak, and the downtrend has yet to reverse. The next downside target remains at 1680. S-T Resistances: 1715 1708-10 1700 Market price: 1693 S-T Supports: 1690 1685 1680 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
1
Gold Trend 19/07 - 22/07Gold traded in a tight range yesterday. The market opened at 1706 back from the weekend. The price was gradually moving higher during the Asian session and touched the day-high at 1724. However, gold resumed its position below 1710, closing at 1709, and ended slightly up by USD 3. In the past 48 hours, gold has been trading in a tight range between 1700-20. Can continue to take advantage of this range until it breaks. The buying above 1710(3) is relatively weak so far after the price touched 1700 last Thursday. The buying support at 1700 remains in place; if the price break this support, expect the next downside target can be set at 1680. S-T Resistances: 1728-30 1720 1713-15 Market price: 1710 S-T Supports: 1710 1705 1700 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 Daily TA Neutral BearishGOLDUSD Daily neutral with a bearish bias. Recommended ratio: 35% Gold, 65% Cash. *Gold, Oil, Agriculture, Treasuries, Euro and Cryptos finished higher today while DXY and Equities closed lower. Last week the EU proposed a new ban on Gold imports from Russia (the fifth largest holder of Gold reserves in the world). Equities started strong but then finished lower on news that Apple is going to slow hiring and spending in 2023 . This rally appears to be part of a broader technical relief rally amidst an onslaught of macroeconomic and geopolitical bearishness, but it still begs the question... when will a recession finally be fully priced into financial markets? Key dates this week: June Housing Starts and Building Permits reports scheduled for release at 830am (EST) tomorrow morning (07/19); the next GDPnow Q2 GDP estimate (previous -1.5%) by the Atlanta Federal Reserve is scheduled for release at 830am (EST) tomorrow morning (07/19) as well. The market consensus estimate for Housing Starts is 1.58m (up from 1.549m in May) and for Building Permits it's 1.65m (down from 1.695m in May) ; if Housing Starts and Building Permits come in lower than consensus it would signal that the economy is continuing to trend toward a recession and may be perceived as bullish by the markets because it would also imply that the Fed's hawkishness is being effective in reducing demand (the only way the Fed can directly influence inflation).* Price is currently attempting to find a temporary bottom at $1700 while continuing to form a Bull Flag after breaking down below $1742 minor support; the next support is at $1685. Volume remains Moderate (high) and is currently on track to break a two session streak of seller dominance if it can close today's session in the green. Parabolic SAR flips bullish at $1742 minor resistance, this margin is mildly bullish. RSI is currently trending sideways at 25 after being rejected by 27 resistance, the next support is at 20. Stochastic crossed over bearish in today's session and is currently trending down at 2 as it approaches a retest of max bottom for the second time this month. MACD remains bearish and is currently beginning to form a soft trough at -35, the next support is at -39 (the ATL is at -52). ADX is currently trending up at 36 as Price continues to see selling pressure, this is bearish at the moment; if ADX is able to form a peak as Price reverses and goes higher, this would be bullish. If Price is able to bounce here at $1700 then it will likely retest $1742 minor resistance . However, if it continues breaking down here, it will likely retest $1684 support for the first time since August 2021. Mental Stop Loss: (one close above) $1742.
G
by dailytaguy
Gold analysis: momentum building upGold prices enjoyed a good start to the week, as investors scaled back their expectations for a massive Fed rate hike by a full percentage point in July, and after China announced further liquidity stimulus to cope with rising Covid-19 cases and housing debt problems. The latest economic events have all helped to alleviate worries of an imminent recession in the US economy while also providing new vigor to market risk appetite. The dollar is losing ground, with the DXY index lingering around 107. The fall in the dollar gave the bulls some confidence, with gold hitting an intraday high at $1,725 before falling to $1,711 at the time of this writing. Looking at the daily chart, gold prices may have found support at the $1,700 per troy ounce area, a level that has not been decisively broken in the past four sessions, which have seen some buyers resurfacing. The 14-day Relative Strength Index (RSI) hit 23 last Friday, the lowest level in nearly four years (August 2018), but the momentum improved at the start of the week. The RSI is now trying to break out of the oversold zone. The MACD line is attempting to climb from depressed levels, but it has yet to reach the signal line. This crossover might result in a bullish signal. The underlying trend remains bearish, as seen by the two 50- and 200-day moving averages, which formed a death-cross at the start of the month, and the descending channel that has been in place since the February’s peak. However, if prices break through the $1,750 resistance level, the possibility of an attack on $1,800 might be opened up. On the downside, bears are targeting $1,664 (August 21’s lows) as a a key support level. Idea written by Piero Cingari, forex and commodities analyst at Capital.com
CAPITALCOM:GOLD
by Capitalcom
1