forextidings

Gold (XAU/USD) Price Trend Analysis

Long
OANDA:XAUUSD   Gold Spot / U.S. Dollar
In the previous week, gold has made -90.51 loss, AND it has lost -8.8 points in the last trading session. XAU/USD may slip from here for $1916 to $1900 levels.

Gold Strong Support $1686 too far away now. In the previous week's trading sessions, it has touched the support trendline and took a reversal. Hence, according to this chart, we may see $2000 - $2036+ levels soon.

The downtrend will start after breakdown of the support trendline. At present, it's positive for the upcoming days. And next hurdle for traders is the $1986 level. This hurdle's breakout can boost the price instantly to the above-mentioned upward levels.

The following (major) event/inventories can affect gold prices:
Monday:
USD Gold Index
Actual 54.9% | Previous 49.3%

USD/JPY Index
Actual 46.0% | Previous 45.0%

Wednesday:
USD API Weekly Crude Stock
Actual -4.400M | Previous -8.587M

U.S. Crude Oil Inventories
Actual -4.512M | Previous -7.373M

U.S. Crude Oil Imports
Actual -0.713M | Previous 1.256M

U.S. Cushing Crude Oil Inventories
Actual 1.336M | Previous 0.532M
Trade closed: target reached: The first target of Crude Oil has come. Further information I will update you soon.

Comments

not bad idea
+2 Reply
Great idea, but i think it will fall from 1966 1 hour resistance, it will test first 1920 level,i m not sure
+2 Reply
forextidings Deadshot_Riiju
@Deadshot_Riiju, hmm, thanks for appreciating my hard work.
Reply
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