Upon reviewing the gold chart on a weekly timeframe, we observe that after closing at $2393 last week, the price began a steep decline and even corrected to $2295! After constructing bullish candles for five consecutive weeks, this week we are witnessing the formation of a bearish candle, and it remains to be seen how far this decline will continue. If the price...
OANDA:XAUUSD took liquidity below the weakly low. On the daily timeframe, the price formed an inside price action pattern. As we can see, the market rejected the support level by creating a long-tailed bar. Since we have upcoming news today, there is a chance that the price may pull back. I think the market might keep moving upward, approaching the resistance...
Hey Everyone, Yesterday we had EMA5 cross and lock below 2371 opening the retracement range 2355 and 2333. - Both levels were hit. Today we had the lock below 2333 opening the swing range levels below, which we said will allow us to buy dips on bounces on the Goldturns. - Each of the Goldturns withing the swing range gave nice bounces inline with our plans...
Hey Everyone, Please see our updated 1h chart levels and targets for the coming week. We are seeing price play between two weighted levels 2351 resistance and 2333 support. We will need to see either weighted level break and lock to confirm the next range. We will need to see ema5 lock above 2351 to further open the range above or a rejection will follow to...
The US Dollar Index is entering accumulation and recovering after 2 days of decline, making gold priced in US Dollars less attractive thanks to direct correlation. The short-term appeal of precious metals still remains. weak as tensions in the Middle East ease and safe-haven demand weakens. The gold market has been less affected by the escalating conflict in the...
Hey Everyone, Great start to the week with our chart idea playing once again in true level to level fashion!! Price was sitting between two weighted levels, 2354 resistance and 2327 support and we were looking for either weighted level to break and lock to confirm the next range. We got our bearish target hit first at 2327. No lock below confirmed the rejection...
Gold prices stabilized after hitting a more than two-week low as concerns about escalating tensions in the Middle East subsided, while investors await key economic data to further clarify the timing of interest cuts. US capacity. Markets are also paying attention to signals from the United States, with US inflation data and a Federal Reserve statement suggesting...
The price of gold experienced a modest decline towards the end of Tuesday's trading session in the U.S. after reaching a high of 2,334 USD. During the Asian trading session the following day, XAUUSD continued to drop to 2,323 USD, marking a decrease of 0.11%. Despite the weakening of the U.S. dollar following the release of weaker-than-expected U.S. PMI data, gold...
Gold prices are seeing a negative start to a new week on Monday after recording a weekly decline. Gold prices are burdened by resurgent US dollar (USD) demand and a risk-on market mood amid weakening Japanese markets during the holiday season. Gold market assessment recorded positive developments. World gold price reached support level of 2,300 USD/ounce. In...
Hey Everyone, Please see our 4H chart update from Sunday with just our swing range updated. We had our Bullish target hit at 2389 start of the week followed with no ema5 lock above, confirming the rejection into the bearish target. Bearish target at 2354 was hit followed with a cross and lock below this level opening the retracement range at 2326, which was hit...
From a technical point of view, the daily star K-line has fluctuated within a narrow range for four consecutive trading days. The decline was only at the beginning of the week. Judging from the current structure of the daily line, it is still a correction. After the previous decline, it did not quickly recover the lost ground, but fell into the consolidation and...
Introduction - Bulls are setting up for a double bottom with a "V" reversal. This means the median will hold. This means 2500-ish on or before 05/23. This does not mean a straight line there though, because medium term 2-way vol is set to stay high all the way to June. Details - See previous drafts for how we got here. Warning - If you are new to this...
Hey Everyone, Another great day on the charts today with our Goldturns respecting level to level. Yesterday we stated that each of the Goldturns within the open swing range gave bounces inline with our plans to buy dips and now heading to 2333 for a test of resistance previously support. - This played out perfectly with 2333 hit today. 2333 is now acting as...
Gold prices recorded a slight decline after recent losses as traders continued to price in higher longer-term US interest rates ahead of the US Federal Reserve (FED) meeting over the weekend . The yellow metal fell from record highs reached in early April as safe-haven demand weakened in the absence of any escalation between Iran and Israel. This makes gold...
Gold at the historical past of greenback correction is strengthening to the resistance of the bearish channel, which became shaped at the historical past of sell-offs. Ahead of robust information, at the historical past of which the charge may also attain the liquidity area earlier than similarly decline. On the excessive timeframe, a fake breakdown of guide is...
OANDA:XAUUSD market made a notable decline over the week, but it has now rebounded from the key support level at 2300. It's probable that we might see further consolidation because any market cannot move straight up for a long time; it moves in ebbs and flows. This consolidation will likely involve the typical sideways movement and market noise of the gold...
OANDA:XAUUSD ANALYSIS - Now that the risk of a broader conflict in the Middle East has subsided, gold attempts bulls look to a softer dollar to prop up prices - Gold (XAU/USD) attempts to lift off of support at $2320 OANDA:XAUUSD BULLS LOOKS FOR INSPIRATION IN THE DOLLAR AFTER TENSIONS SUBSIDE Implied gold volatility (GVZ) has experienced a notable drop...
Introduction - So since the move to 2311-2314, I have to "play it by ear" because price is moving faster than my ability to map "an intermediate thesis" that is in sync with price action from here to August. In order to stay relevant and ahead of price action, let's talk less and do better. Details - Continuing from DRAFT 9-3, price chose yellow route to 2291...