Forexmaestro121

Forexmaestro121

On last Friday gold altered the selling sequence after NFP news towards $2400 mark. Now we have 2360 and 2353 is the last supports for bullish reversal .However, $2363- 2366 is an opportunity for long trade if that area is broke then we have final $2353 support area .if the price action reached to red box as I mentioned in the chart that will be the...

Forexmaestro121

As we can see that gold is approaching to break the 2320 support cluster zone however, gold is on head and shoulder pattern ,if price action crack 2320 support zone then gold started the bearish cycle and we are confident on bearish cycle. Moreover, the Commitment of traders data also shows the bearish cycle. on the other hand if the price action again rejected...

Forexmaestro121

Gold is moving on buying pressure using the Rising wedge pattern and still in the wedge channel however ,the big drop will be happened to soon because the that's in the H1 time frame ,the higher the price action goes we have better opportunity to sell gold ,2300 is still on the benchmark.$2343 will be the last point to hold the rising wedge if $2343 break next...

Forexmaestro121

As we can see clearly the rising wedge trend was broke in H1 and H4 time frame and now we are expecting the impulsive moves of gold towards 2300 benchmark. however the current position of 2342 and 2340 are critical .just wait for the clear splinter of the support of 2340-2335 cluster. all eyes on DX as is start the descending channel as a rising wedge.

Forexmaestro121

2397-2392 area is the decisive points for todays session .Both the H4 and D1 timeframe indicating the bearish sequence as considering the Rising wedge channel .if the 2405 support cluster is breached next will be 2392 .

Forexmaestro121

Gold is at $2390 area follos the foot steps of rising wedge ,we are expecting the impulsive downfall of gold at the trend line .however, any 4H candle close below trend line gold will at $2300. todays we have jobless claims fundementals. A cup and handle formation is also created in 1H time frame we are expecting the monthly candle should be closed on sell.

Forexmaestro121

Gold is on buying pressure towards 2400 however ,its rejected from 2370 resistance . todays multiple news are coming ahead, I do expected PPI numbers are higher that helps gold on selling pressured will retrace asap on CPI which gives the sell trade on gold .Our targets will 2348-2353(in extension 2330). on the other hand if the numbers are negative the 2370 will...

Forexmaestro121

2345 AND 2360 IN EXTENSION IN TERMS 0f negative todays GDPnumbers.However, 2300 will be on board .

Forexmaestro121

gold has made a flag pattern that indicates a buying however its rejected from 2330 resistance area and created a falling wedge on M30 .Right now if the 2315-2312 support zone is break next target will be 2290 and 2270 in extension.stay safe

Forexmaestro121

As gold started implusive move through out from yesterday however gold reached the support of 2290 and bounce back from it upyo 150 pips and created the Falling wedge pattern and that means the gold must have to retest the 2318-2322 resistance area.Moreover, the current area considered to be the consolidation in M30 time frame .If gold. breaks the 2290 support...

Forexmaestro121

As we all can clearly see that non of a single H1 candle is closed below the trend line I have drawn. we have two support areas if gold breaks the trend line we can expect 2337-2340 and in extension (2325-2327). however, the consolidation happens at 2368-2372 and price action happened there will be clearly a Bullish reversal till top.yet Bull run is not over .

Forexmaestro121

As our yesterday commentary we were on sell and we captured the impulsive bearish move on CPI news that's gives us almost 300 pips in each trade however today session is sidelines and we are expecting another bearish move after little retracement .the current support area $1988-$2092 and our eyes are on $1972-$1975.

Forexmaestro121

GOLD just made a recovery from $2012 area however we are looking our final destination at $2000 .As for today session we are expecting an upside movements of DX ,which delivered Gold on short.AS we have seen the recovery of gold from $2010 to again at $2028 right now which is almost the 70% of the last impulsive move . keep an eye on fundamentals this session...

Forexmaestro121

Despite technical and fundamental indicators suggesting a medium-term resistance at $2032-$2038 area, Gold continues to react sharply to downward spikes in the US Dollar Index at NFP at last Friday however often yet exhibiting aggressive intraday movements without clear explanations .DX retrace back two times from 104.60 price action however this point is the...

Forexmaestro121

Gold is now moving on $2054 - $2056 area. Technically, $2070- $2072 is the Ultimate Top's , as Selling on such Bullish s is not advisable if the our ultimate top is broken. yesterday the numbers was in favors of Gold however the bullish cycle was not expected but 73% of total numbers of traders were in Bull run however price action was just sudden dropped...

Forexmaestro121

Gold is on killing spree towards sell since January 8 as almost 5 attempts t0 break $2038 - $2042 cluster on resistances AS now we have 2 options for todays session. 1- if the $2042 break properly then next targets will be $2052,$2060. 2- if again it retraced back as clearly in D1 timeframe next bearish cycle remains valid and our targets will be $1982 for...

Forexmaestro121

Gold is in consolidation zone and today USA session will decide gold will break 2040 resistance and towards $ 2060 . and yesterday Death cross area is invilated. As Bond Yields and DX were Trading on huge decline yesterday session (DX comfortably Trading above the Hourly 4 chart’s Resistance zone and Bond Yields on spiral uptrend), current environment is far...

Forexmaestro121

As we were optimistic on last Friday reversal from $2040-$2042 area that's now at moment 0.618 Fib retracement point as critical point. However ,bullish cycle are aggressive without any indication due to the global political conflicts.$2020-$2042 is the area of consolidation our forecast towards short on medium term till $1982.movever, if $2042 breaks then...