Technicals This very strong trendline has been lasting for gold for some time now, and I don't expect it to stop, and it has just been touched, so this looks like a very good place to get in with a short position if you agree with this outlook (many will disagree!). Disadvantages The US economic data is currently not bad, but not great, and consumer spending...
Gold make a Selling Channel. and in my my View USD maybe strong because USD GDP was Growth. Best of Luck
Hello, "El Dorado" Traders! Best regards, Powerful Traders!
The new adjustment to the gold/us dollar by the EWA/EWP analysis! There are 2-variants of the price progression in subwave C. Classic impulse or can be Ending Diagonal Triangle!? Anyway: Buy limit - 1073.56, S/L -1069.00, T/P - 1086.00 Best regards! Sincerely yours, Powerful Traders.
# Overall bearish # Strong sell : Recommended short position only # Potential level to re-enter short *highlighted area*
Gold's Behaviour May Signify An Upcoming Reversal For AUD/& NZD Pairs Potential Sell Setup Shown For NZDJPY, Awaiting For More Confluences To Line Up (Especially If Gold Indicates More It Does Not Wish To Trade Above Key Monthly Resistance) Gold Outlook On Potential Reversal
I will never recommend any one to sell in an upward trend. I personally would wait for price to come back in bottom trend line and Buy again if it does not break out. Patient is the key of success.
Recent NFP data just pushed Gold to the upward. Recently just bounced off the weekly pivot. LONG if breakout to the upside targetting the potential 3rd test of Daily TL. SHORT if price close below 1134 with immediate target shown on the chart. Stay neutral for now as Gold is constructing it's highs & lows, enter when direction is clear. Have a profitable week traders!
A few confluence for long entry. Details on the chart.
I believe Gold is approaching 618 Fib Retracement which is an important support level with high potential of reversing around this level. First profit target is in the chart. Have a profitable week traders!
Staying out for Fed Interest Rate Decision today. Have a good week traders!
if price break,close & hold and close above 1110 with potential target around 1118 area. Potential short-term reversal at 1112.27. This is just an outlook. Have a profitable week traders!
Gold still bearish. Broke recent trendline & close. Quick target at 1099.49