vittorio_forex
Long

LAST FORECAST WAS PERDECT,LETS SEE THIS ONE! YOUR OPINIONS?

OANDA:XAUUSD   Gold Spot / U.S. Dollar
Let's start by saying that next week there is no big data concerning the USD , so from a fundamental point of view we should be ok.
We can take into consideration the technical point of view...
Last week forecast was spot on, PERFECT. For everybody that followed the analysis +600 PIPS made.
Gold has been ranging from @1680 and @1740 for a while with a couple of false breakouts now and then.
If you look at gold on the weekly chart we can clearly see that GOLD is on a clear uptrend, so if you have been holding your BUY positions for a while, this is certainly not the moment to close those positions, HOLD.

I think that how GOLD will open on Sunday night is essential, a big bullish candle on FRIDAY ( daily chart ) that has reached the resistane level @1740.
Now as you can see we have a short term diagonal resistance line, as you can see from the wicks of the 4h chart this resistance was rejected many times, GOOD SIGN!

#1 analysis sees GOLD price go above my resistance that becomes supports, being ejected again by the diagonal resistance and reach the last resistance @1764 and above

#2 analysis sees GOLD been rejected again by the 1740 resistance and keep ranging between 1680 and 1740 for next week

As I said in this case the opening price tomorrow night and the ASIAN will be essential to determine next week ending price for gold . But honestly I see gold going only UP!

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Comment: GOLD has broken resistance, now the target is 1760, analysis on point.
Trade closed: target reached: 1760🤑🤑

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