XAUUSD Gold Forecast And Technical Levels
The main idea: We are still bullish midterm.
Yesterday we have published a trading idea based on the bearish triangle breakout.
We see a bullish Gartley pattern forming and would be completed at 1.308-1.312.
We look for fresh buy opportunities and will update premium members.
Fundamentally:
NFP reports will be released today. It is obvious that we will see the temporary effects of the reports.
However, midterm, Gold prices are expected to rise as mining exploration struggles to find enough new discoveries to add to the global reserves
Gold prices rose on Friday as investors sought safer assets after U.S. President Donald Trump proposed $100 billion in new tariffs on China, raising concerns about an escalating trade spat between the United States and China.
Technically:
On the daily chart, XAUUSD moving in an ascending channel. Price is above EMA 100 and EMA 200.
1328 is the EMA 50 and MM 2/8 Major Reverse and Support. We have mentioned this key level before.
However, on the H4 chart, we see that the price is below EMA 50, 100 and 200. Gold is trading in the lower Bollinger Band. The picture is bearish. We need to see a few H4 closing above 1328 for the continuation of the bullish move.
We have given some key levels yesterday. 1324, 1320, 1316, and 1312.
If the price breaks below 1324, 1320 will be tested for sure. And below 1320, 1316 and 1312 will be on the target.
We will update as soon as we see the fresh buying opportunity.
Visit our website for more
DISCLAIMER: This is a technical analysis study, not an advice or recommendation to invest money
Yesterday we have published a trading idea based on the bearish triangle breakout.
We see a bullish Gartley pattern forming and would be completed at 1.308-1.312.
We look for fresh buy opportunities and will update premium members.
Fundamentally:
NFP reports will be released today. It is obvious that we will see the temporary effects of the reports.
However, midterm, Gold prices are expected to rise as mining exploration struggles to find enough new discoveries to add to the global reserves
Gold prices rose on Friday as investors sought safer assets after U.S. President Donald Trump proposed $100 billion in new tariffs on China, raising concerns about an escalating trade spat between the United States and China.
Technically:
On the daily chart, XAUUSD moving in an ascending channel. Price is above EMA 100 and EMA 200.
1328 is the EMA 50 and MM 2/8 Major Reverse and Support. We have mentioned this key level before.
However, on the H4 chart, we see that the price is below EMA 50, 100 and 200. Gold is trading in the lower Bollinger Band. The picture is bearish. We need to see a few H4 closing above 1328 for the continuation of the bullish move.
We have given some key levels yesterday. 1324, 1320, 1316, and 1312.
If the price breaks below 1324, 1320 will be tested for sure. And below 1320, 1316 and 1312 will be on the target.
We will update as soon as we see the fresh buying opportunity.
Visit our website for more
DISCLAIMER: This is a technical analysis study, not an advice or recommendation to invest money
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