darkwitch

darkwitch

Gold has been in a strong uptrend since the start of 2023, as investors seek a safe haven amid economic uncertainties and geopolitical tensions. The yellow metal has risen from $1,800 per ounce at the end of 2023 to $2,050 per ounce, a gain of nearly 14%. However, gold is facing some resistance at the 0.61 Fibonacci retracement level of the previous...

darkwitch

Gold is in an uptrend, boosted by a dovish Fed and a high demand for a safe-haven asset. It reached a record high of 2070 USD, but then corrected lower, falling below the resistance level of 2070 USD. This pullback was due to profit-taking. However, the uptrend is still intact, as shown by the series of higher lows and highs on the 1H chart. ## Trading...

darkwitch

Gold has been in a downtrend since reaching a high of 2042. It is now trading below a descending trend line that connects the lower highs. The price is also in a channel between 2024 and 2015, which acts as a dynamic resistance and support. Recently, gold formed a bearish flag pattern, which is a continuation signal for the downtrend. The flag pole measures about...

darkwitch

The GBPJPY pair has shown some interesting movements recently. It was in a downtrend, falling from a high of 184.333 to a low of 182.250. This move was significant and caught the attention of many traders. During this downtrend, the pair entered a channel between 182.750 and 182.250. This channel acted as a consolidation zone, with the price bouncing between...

darkwitch

During the period from 2030 to 2002, positive NFP data led to a stronger USD, which inversely affected gold prices. As the USD gained strength, gold prices experienced a significant decline. Trading Strategy: Monitor NFP data and USD strength. If NFP data is positive and USD strengthens, consider shorting gold. Use stop-loss orders to manage risk. Please note,...

darkwitch

The price of gold finds itself in a peculiar state of equilibrium. The precious metal, often seen as a safe haven during times of economic uncertainty, has been trading within a narrow range for quite some time now. This period of relative calm, however, could soon be disrupted by the upcoming release of the Non-Farm Payroll (NFP) data from the United States. The...

darkwitch

Looking at the 4 hour timeframe for gold, it’s clear that the commodity is currently trading within the $2035-2052 range and is on a sideway trajectory. Should the price break above the $2052 mark, we could potentially witness a further up in the value of gold. The next possible targets could be $2060, $2065, and $2077. The predictions from the previous analysis...

darkwitch

Gold has been trading in a downward trend since breaking the $2050 level. The 15-minute candles have also broken the $2043 support line, indicating a bearish trend. Based on this information, a potential trading idea could be to short gold. However, it is important to keep in mind that trading is inherently risky and should be done with caution. It is recommended...

darkwitch

Gold has recently broken through the 1968 resistance level and has retested it, indicating a strong bullish trend. The precious metal is currently trading in an upward trend channel, which further supports the bullish outlook. The Market Structure (Breakers) indicator 1 can be used to detect “Breaker Market Structures”, which can help identify potential breakouts...

darkwitch

ear friends, gold has returned to trading below the $2000 mark. Betting that the Fed’s interest rate hike is complete will likely lead to new USD sales and still be supportive. It needs to surpass the resistance level of $2010 to support further growth prospects. On the 1-hour chart, XAU/USD is still on an upward trend. So far, gold has found support at $1988. A...