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Spotgold

Gold to stay in gains when geopolitical tensions worsen. Gold has rallied in the previous days, backed by the high risk geopolitical events surrounding Syria, and the comments clash between USA and Russia and their allies. The longer term resistance was reached on 10th of April at the level of $1365. If demand stays high for the Gold, and when we see even more investors demand we can see the Gold rising to $1400 and closing on $1500, price action and fundamentals should be closely monitored as when tensions ease price will have difficulty to move higher as safe heaven assets are not in high demand. FED's can affect the movements also whit its policy decisions and how this will impact the USD, so these two variables, geopolitics and tensions between USA and Russia in the Middle East and the adjustment of policy from the FED are to be closely monitored and on your priority list in the news. Upside another resistance zone $1372-$1385. After we have $1400. At the moment the price is trapped between $1300 and $1365, with first levels of support around the $1330/$1325 levels. Caution going forward! Good luck :) ! Risk warning! --------------------------------------------------- Trading carries a high level of risk to your capital and may result in losses that exceed your initial deposit. You should first be aware of the risk and know what you do before you proceed with trading. Supplied information is not advice.
FOREXCOM:XAUUSD
by TheTrade_Academ
Gold Pullback Anticipated Before Continuation to the DownsideGold has really been falling of a cliff this past week or so, with very little in the way of a pullback (for short entry) since the break of the bullish trend line around the $1230's area. I know I have posted a few potential set ups where Gold could have pulled back for entry, but unfortunately they did not play out - which is not a problem, as we would not have entered. It really does look like a pullback is imminent at the moment, and as you can see I have again applied a nice Fibonacci retracement to it's recent move. We can really hope for a nice pullback to around the 38% area which is also close to a level of interest (blue dotted line). I will be watching around this area or even the $1225 Resistance area for a reveral, to enter short again. The higher timeframes (Monthly, Weekly & Daily) all look pretty bearish with the Monthly & Weekly MA's currently diverged and looking like they'll be crossing to the downside soon. Let's see if we can find a nice entry point for a nice short all the way down to $1180-1175/oz
FX:XAUUSDShort
by buykinisuk
Is an End of Golds Recent Bull Trend Nigh?Firstly - please excuse the quite busy/crowded chart here - usually my charts are a lot cleaner. Anyway, as you can see from my last idea on Gold, we are quite possibly nearing the end of it's recent bullish run. Momentum seems to be slowing down, we have reacted quite nicely from the 61% Fibonacci retracement and broken a reasonably long term trendline! However, in my opinion, until we have breached and made a new low under the next blue dotted line beneath the current price action, we can not say it's bull trend is officially over. If it makes a new low under this level (blue dotted line indicating the last low) then we have formed a lower low - the first indication of a bear trend. I have plotted a short term Fibonacci on the chart as you can see. I really should have entered short where it hit the 38% retracement, as this was also a retest of the Trendline it just broke! However I still believe we can drop down to it's first D1 extension, before we see a nice pullback up to $1225 area before we can enter short again. Once this level has been broken there isn't much in the way of support all the way down to $1200. Also as you can see the current Fibonacci's D2 extension lines nicely up with $1200 too. We will see how this plays out. Currently Neutral, once the dotted line is breached - I'm short bias to $1200.
FX:XAUUSD
by buykinisuk
Gold Spot Market - Forecast for Next WeekGold currently seems forming double bottom that will be confirmed tomorrow Friday October 31st, 2014 or next week on Monday November 3rd, 2014. The decline to the black lines will form a high probable trade setup as this area looks good buying zone off which the rally to the first target line seems very plausible. However, the price action with respect to the black lines will be a key determinant of entry decision since there is no actual volume in spot market which can be used as a filtering tool. Let's watch how the trade setup unfold tomorrow which is projected to be the reversal day for multi days up move.
FX:XAUUSDLong
by AK_2014
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