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Xau_usd

Daily Market Technical Report - XAUUSDOVERVIEW : Gold prices ended the session solidly higher and scored another three-month high Wednesday. We feel that the market will more than likely trying to reach towards the $1150 level. Technically market is looking strong on chart and prices is trading above the resistance trend line in its daily chart. In 4 hourly chart, prices is sustaining above its support of 200 and 50 DMA with appearance of golden cross. It is having an important resistance of 1150 and support at the level of 1122. If it sustains at current levels then we can expect it to show further upside movement in Gold prices. INDICATORS :- MACD is sustaining in its positive territory indicating the bullish trend in the prices. STRATEGY: Gold is looking bullish on charts for next few trading session. One can go for buy on dips level strategy for intra day to mid term positions in it. www.tradingsignalreviews.com
FX:XAUUSDLong
by piponomics
1
XAUUSD Weekly Update (25/12/15)Did you follow my start-to-Bullish call on XAU/USD (Gold Spot), last week? I hope you make $$ from it (read it in link below for my last week analysis) Looking Forward, I reckon the Bullishness to continue. Tweezer bottom ($1050 level) is acting as support for advancement. Nonetheless, we have yet to see Higher Low (HL) in the wave analysis.. So, this pairs is considered as "still in the down trend" Support Level: 1087.10 and 1107 Resistant Level: 1062 and 1050
FX:XAUUSDLong
by SonicDeejay
Short XAUUSD Gold on a way to $1000 and below?!Gold on a way to $1000 and below?! Looking at weekly chart I can’t help but to see GOLD going down possibly to $1000 or even less. Lower highs and lower lows are supporting this idea creating form of descending triangle with possible downside even lower than $1000 – if that level fails to hold (which is btw very strong psychological and technical level) $715 would be next very realistic area of support. Entry options. First and the most attractive with potential very decent RR ratio: Try entering short if price goes back to 1240-60 with SL above recent high (above 1310) Second option in case price won’t retrace to 1240-60 area, wait for weekly candle to close below the recent low of 1131.41 and enter short position with SL above recent high. TP – definitely around $1000 area – there is going to be lot of noise if price gets there – take same profits and leave risk free runner by moving SL to break even. This is more of a mid-long term idea which may takes months or over rear to play out depending on other economic surroundings. Good trading and good luck! Arek JP
FX:XAUUSDShort
by ArekJP
Technical levels not to be ignored on GoldWhile I am still a dollar bull and don't yet see no fundamental signs to change that position, I can't help but notice a $80 technical zone that may provide gold support in 2016. I had already noted $1110-20 as a possible support (old resistance from 2008), but I only just realized that $1110 is the 50% retracement from the 1976 lows ($101) to 2011's highs ($1920.8). Drawing a Fibonacci from the 2001 lows to the all-time highs gives us another 50% retracement level at $1088. This is of course a level that held in July with this year's lows so far at $1072.3. We've already seen a minor bounce in gold prices from those July lows, but there hasn't really been much buying pressure behind that. We may need to see gold dip back down below $1080 (and possibly all the way to $1110-20) for the market to spring back into action. Such a short squeeze initiated within the technical zone I've highlighted would set the stage for a decent bull run at least over the medium term (3-4 months). This could especially occur if global economic conditions sour even further, pushing the Fed to shift course on it's interest rates forecast, leading to a significant decline in the dollar (all those speculative buys being purged from the market). This is just a scenario that I find interesting, but I'll be adjusting my expectations according to economic data, price action and market sentiment towards the year's end. One last note: on a technical basis, a break below $1000 (more upside to the dollar) would suggest a further decline all the way to $700, which is also a major technical level that should not be ignored.
COMEX:GC1!
by ABRAK75
A strategic level to short goldFollowing last month's sharp fall in gold prices, the market has entered a bullish corrective phase and is rising back up to a previous support level at $1,147 that was tested on 8 July. There is currently a trend line resistance at around $1,151-53 which could provide for a decent short opportunity pretty soon. A stop above $1,165 (to be determined according to overall risk one's willing to take) would offer a risk/reward ratio above 1:3 if one was to target levels below $1,100, which wouldn't be absurd given the overall bearish trend. Please note that this is not investment advice and that you should trade at your own risk.
FX:XAUUSDShort
by ABRAK75
5
Gold Shines As Dollar Loses LusterBad data ushers in gold bulls. [/i The dollar is weakening, again, on bad data with durable goods declining 1.4 percent in February versus expectations of a .4 percent gain. Core durable goods month-over-month, ex-transportation, fell .4 percent while January’s figure was revised down from zero to a contraction of .7 percent. The ongoing poor data out of the US is giving traders reason to doubt the Federal Reserve’s ability to raise the key benchmark rate anytime this year, thus rekindling gold bulls. In “Gold to Retest $1,130 Lows,” gold was trending lower on a much stronger dollar. Support at $1,140/24 demand zone was the last line of defense before challenging the November low of $1,130 per toz. If the dollar had maintained its strength, it was a real possibility; but, the Fed rained on the bears’ parade. Currently, gold is climbing to $1,200, which will initially act as round number resistance. The 4H chart is showing that the price action from the breakout is floating in overbought territory with an RSI of 70. Considering that the RSI is coinciding with price action resistance, gold could pullback slightly while maintaining bullish momentum. There is nice bullish EMA activity with a 50/72 convergence and price action sitting on top of the 200-4H EMA. Potential pullback targets are seen at support levels at $1,186 and $1,174 per toz. However, a close about $1,200 could send prices to $1,209 and $1,222 per toz.
FX:XAUUSD
by CommoditiesTrader
2
Gold is bottoming, bullish above $1200Gold prices are likely bottoming after having retraced a big chunk of the January rally this month. Looking at the XAUUSD chart over the past two and a half years, prices have started to bounce off an old bearish trend line that was broke through at the start of the year. There's also a bullish trend line coming in at the $1190 level. Technicals suggest that a bounce in gold prices could target at least $1230 in the beginning of March, but I think the market could work its way back up to $1250 so long as the dollar continues to consolidate. After Yellen's testimonies this week, I find that the greenback faces downside risk as economists and traders are likely to push back their aggressive forecasts for a rate hike before September. A bearish reversal in the dollar market would bolster the upside potential for gold in March, and that could allow it to rally all the way back up to $1300. Note however that we'd need to see a break above the January highs before being able to expect a true gold rally over the long term. I am bullish above $1200.
FX:XAUUSDLong
by ABRAK75
1