ForecastCity

GOLD Weekly Technical Analysis Update

FX:XAUUSD   Gold Spot / U.S. Dollar
Midterm forecast:
1939.45 is a major support, while this level is not broken, the Midterm wave will be uptrend.

Technical analysis:
While the RSI uptrend #1 is not broken, bullish wave in price would continue.
A peak is formed in daily chart at 1818.00 on 07/07/2020, so more losses to support(s) 2000.00, 1970.20 and minimum to Major Support (1939.45) is expected.
Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
Relative strength index ( RSI ) is 79.

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Comments

LOVE YOUR FORECASTS (GBP, EUR & GOLD). ALWAYS HELPS ME WELL. THANKS.
+1 Reply
ForecastCity AbadirWiliq
@AbadirWiliq, Thanks for your comment. 👌
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Nice analysis. Agree x
+1 Reply
ForecastCity FreeForexSignals
@FreeForexSignals, Thank you! We appreciate your comment 💎
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Nice setup, keep up the good work :) x
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Touch-SKY FreeSignalsUK
@FreeSignalsUK u r good
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FreeSignalsUK Touch-SKY
@Touch-SKY, Thanks :) x
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ForecastCity FreeSignalsUK
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ForecastCity FreeSignalsUK
@FreeSignalsUK, Sure we always do. 👌
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You are a blessing.
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