XAUUSD Update: Year of the Bull After a consolidating few weeks from 1870 to 1920 Gold has plummeted today after the Federal Reserve Pump, ADP Employment Change, and Initial Jobless Claims for the US. However, after hitting support around 1865-1870 it looks to be a key zone of support that could reverse price action to the upside of 1900. After breaking out of the weekly trend zone which was indicated by multiple touching points acting as both support and resistance prices, If the price does not fall back into the zone and retests of the resistance line we will see price push upwards of 1900 continuing the climb to 2000 by end of the year again. As there is currently a lot of uncertainty around crypto and the use of their platforms in a lot of countries so financial institutions, hedge funds, and investors are rethinking portfolio assets and highlighting the key benefits gold provides and has always provided as a proven ROI asset.
Xauusdgold
Moving up or down?Hi everyone
Gold reached a point where it had reacted strongly in recent times and failed to cross this resistance level in 1797. But this time the situation is different. The formation of candles with long shadows at the support level of 1770 and the speed of price return, as well as the reduction of the time interval between the formation of two price peaks can be factors in the signal of gold crossing from 1797 and moving towards prices of 1805, 1816, 1826 and 1850.
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Whatever gold saysWe go with the chart and the chart tells us that it is currently on the rise (in the medium term, of course). To change the trend, we need a price stabilization below 1753, and in the zone specified in the analysis, you can see how the price has returned to the top quickly with each collision with this zone. So now we have the targets of 1815 and 1826 and finally 1850.
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⚠️ 1. We publish this trading idea to help analysts, so if you have an idea that you think is right, do not be influenced by this idea.
⚠️ 2. All our analysis and signals are provided free of charge, so we have no obligation to make any profit or loss on our signals and analysis.
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Gold Spot (XAU/USD) -ABC correction of the Elliot wave The uptrend of XAU/USD has made a bullish Elliott Wave. In the fifth wave, there is a diagonal, and ABC correction is remaining.
It will fall for a short time to make the ABC correction. The targets for the intraday traders are following 1952 - 1946 - 1936 .
If the gold retests 1965, then it will start to rise again for the levels of 1976 - 1982+