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Xauusd-trend

GOLD Daily: Ready for next move up?After a major reversal on the weekly unfolding in a nice impulsive move upwards on the daily chart, a divergence showed up in the daily Gold chart, sending prices down over the past few weeks. They have dropped below the balance zone and took Momentum below 0, indicating a major correction. Now a new buy fractal signal has been formed. If it's hit, it could be a good entry point for Gold to reach a new high above $1282. This trade would occur in the overall trend direction (weekly), which would then also keep moving in what might be the new trend direction (long!)
FX:XAUUSDLong
by theTrendtradr
2
GOLD Technical Analysis Suggests Long BiasI would like to keep this post strictly Technical because Technical Analysis cannot be debated the way investors debate Gold as an investment from a fundamental perspective. There are numerous technical indications that Gold will rally. First would be trend resistance from the 2/1 Level of the Gann Fan along with the recent bounce off the ~$1050 Support level. The 2/1 Gann Trendline is based on the highs of the 15 year uptrend Gold has experienced. The next indication would be the completion of the D leg of the ABCD Pattern. Fibonacci speed resistance fan offers no significant resistance levels within close proximity. Finally RSI Divergence gives us the final long signal. As always if this TA helped you please leave a like and comment your thoughts. Happy Trading!
FX_IDC:XAUUSDLong
by IceTrading
8
GOLD looks better for active traders after broke upGold had a nice action, acted well according to our plan from friday's morning note: "Some buying interest resumes in Gold . It found some support at $1281.50ish, broke up intermidiate resistance and we can see $1290 soon. A break bigger down trend line could set it back in motion and attract more active buyers." Now we have close above short term moving averages and down trend line. I am a buyer above 1304.5, next support at 1300. My target zone that may be reached this week is 1322 (200 Moving Average) and 1330 (previous swing high from where it bounced).
FX:XAUUSDLong
by andrew.berg