ForecastCity

Don't miss the great sell opportunity in XAUUSD

Short
FX:XAUUSD   Gold Spot / U.S. Dollar
Trading suggestion:
. There is still a possibility of temporary retracement to suggested resistance line (1703.5). if so, traders can set orders based on Price Action and expect to reach short-term targets.

Technical analysis:
. XAUUSD is in a range bound and the beginning of downtrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 28.

Take Profits:
TP1= @ 1664.75
TP2= @ 1641.00
TP3= @ 1624.80
TP4= @ 1588.45
TP5= @ 1565. 40

SL: Break Above R2

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Comments

@ForecastCity how do u see Gold market now??is your bearish idea still on?
+2 Reply
@pf182003, Please click here to see the latest weekly forecasts of Gold. Weekly forecasts will be updated regularly on the website.

http://www.forecastcity.com/en/forecasts/Commodities/weekly/XAUUSD/12665
Reply
Thank you ForecastCity, for being such a grate hope for all the traders. 🌸🙏🌸
+2 Reply
@fxniki, Thanks for your comment.
Reply
Great analysis but I'm going long
+2 Reply
@MZY_1, Thanks for sharing your opinion about it. we wish you bests. 🌸🙏🌸
Reply
Good chart 👌, but I stick to my strategy and I am long on gold.
From a technical point of view your analysis may seem right , but the fundamentals are pretty clear , the situation in the US is only going to get worse .
Tension with CHINA
Riots and looting
Trump's behaviour
Corona virus
Gold is the most volatile pair ever, so it can swing one way or the other but long term I think that in the next months we will definitely see a spike upwards near or above 1800
+2 Reply
your nice
+1 Reply
ForecastCity ShakirUllah
@ShakirUllah, Thanks 🌸🙏🌸
Reply
You are good
+1 Reply
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