#Gold (#XAUUSD) Price May Penetrate $1,873 Level (13 NOV 2021)

On 13 Nov 2021 By Financial Consultant _Forex_Gold Xauusd| Fund ManagerIn ForexLeave a comment

Gold Weekly Price Analysis – November 13

Gold price may continue an uptrend movement provided the resistance level of $1,873 is broken upside, possibly, $1,908 and $1,959 levels may be tested. In case the bears defend the resistance level of $1,873, the price may decrease towards $1,831, $1,796 and $1,750 levels.

XAUUSD Market

Key levels:

Resistance levels: $1,873, $1,908, $1,959

Support levels: $1,831, $1,796, $1,750

XAUUSD Long-term Trend: Bullish

Gold is bullish on the long-term outlook. Two weeks ago, the Gold price closed below the resistance level of $1,831. The buyers increase their momentum in the Gold market on the daily chart. The price turned the former resistance level of $1,831 to support level on November 10. The price is increasing towards the resistance level of $1,873 before weekly market closed.

Gold is trading above the two EMAs which indicate that the bulls’ momentum is increasing before the closing of Gold weekly market. The 9 periods EMA remains above the 21 periods EMA. Gold price may continue an uptrend movement provided the resistance level of $1,873 is broken upside, possibly, $1,908 and $1,959 levels may be tested. In case the bears defend the resistance level of $1,873, the price may decrease towards $1,831, $1,796 and $1,750 levels.

XAUUSD Medium-term Trend: Bullish

Gold is on the bullish movement on the 4-hour chart. The white metal tested the support level of $1,750 on November 03. The bulls rejected further price decrease and the Bullish movement commenced on November 04 at $1,750 support level. The price is pushed up to break up the resistance level of $1,796 and $1,831. The bulls’ pressure has pushed up the price to reach the resistance level of $1,873.

The price is trading above the 9 periods EMA and 21 periods EMA as an indication of bullish market. The Relative Strength Index period 14 is at 70 levels with the signal line pointing up to indicate buy signal.

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Gold Price Forecast: XAU/USD awaits acceptance above $1,870, focus on US consumer data (12 NOV 2021)

On 12 Nov 2021 By Financial Consultant _Forex_Gold Xauusd| Fund ManagerIn ForexLeave a comment

Gold price sees bullish consolidation, eyes fresh upside amid inflation risks.
US Consumer Sentiment data could provide fresh dollar trades.
Daily bullish technical indicators continue to favor gold buyers.

Gold price witnessed good two-way price action on Thursday, although maintained Wednesday’s post-US inflation data-induced higher side after finding some demand near $1,842. Growing inflation worries globally continue to boost gold’s appeal as an inflation hedge, despite the major central bankers’ dismissing higher prices as transitory. The upside in gold price, however, was limited by the relentless rise in the US dollar across its main rivals, as hotter inflation also brought back the Fed rate hike speculation on the table.

On the final trading day of the week, gold price is duplicating the moves seen in Thursday’s Asian trading, as it retreats amid firmer dollar and yields. Although the narrative of mounting inflationary risks and their negative impact on the global economic growth will continue to bode well for the bullion. Covid resurgence in China and in parts of the Euro area boosts gold’s safe-haven appeal, as well. The end of the week flows during the London fix will be a cause for concerns for gold buyers. Meanwhile, the US Consumer Sentiment data will be also closely eyed for any impact on the dollar trades, which may eventually influence gold price.

Gold Price Chart – Technical outlook

Nothing seems to have changed on the short-term technical front, as gold price remains on track for the further upside on a sustained break above the June 16 highs of $1,869.

The next significant resistance is environed at the June 14 tops of $1,878, followed by the $1800 psychological level.

The 14-day Relative Strength Index (RSI) peeped briefly in the overbought zone a day before but has eased slightly thereafter, suggesting that a fresh upswing could be in the making.

On the downside, the $1,850 demand area will get tested initially, below which Thursday’s low of $1,843 will be on the sellers’ radars.

The previous critical resistance now support at $1,834 will hold the key for gold bulls.

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Gold bugs begin to stir: 9 NOVEMBER 2021

On 9 Nov 2021 By Financial Consultant _Forex_Gold Xauusd| Fund ManagerIn Commodity, GOLD, XauusdLeave a comment

Gold closed 1.95% higher at $1818 per ounce last week after key central banks’ meetings were dovish compared to market expectations.

At its meeting, the Federal Reserve announced that tapering would begin this month at a pace of $15 billion per month. However, causing gold bugs to stir, the Fed noted it continued to view inflation as transitory and that it was in no rush to raise rates.

A surprise decision by the Bank of England not to raise interest rates and a slower fall in the U.S. unemployment rate sent bond yields tumbling and gold to its highest close in almost two months.

Of particular interest to the sustainability of last week’s rally in gold, U.S. 10 year real yields (the interest rate adjusted for inflation and a key driver of the gold price) broke below the bottom of a well-established range at -100bp, to close at -111bp.

Presuming U.S. CPI data this week does not upend the move in real yields, gold is eyeing critical resistance $1835/40 area coming from three highs between July and September and downtrend resistance from the August 2020 $2075 high.

A sustained break above $1835/40 after the release of the U.S. CPI data would allow a more substantial recovery in gold.

To take advantage of this possibility, we suggest opening longs in gold on a stop enty at $1841, leaving room to add to the position on a daily close above $1841 (limit $1855).

The stop loss should be placed initially at $1820. The first profit target is $1910/15 with scope to $1960.

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#Gold (#XAUUSD) Price Is Heading Towards Resistance Level at $1,831

On 7 Nov 2021 By Financial Consultant _Forex_Gold Xauusd| Fund ManagerIn Commodity, GOLD, XauusdLeave a comment

Gold Weekly Price Analysis – November 06

When the Bulls’ pressure increase further and breaks up the resistance level of $1,831, the price will be targeting the resistance level of $1,873 and $1,908 levels. Should the resistance level at $1,831 hold the price, the yellow metal may drop towards the support levels at $1,796, $1,750, and $1,717.

XAUUSD Market

Key levels:

Resistance levels: $1,831, $1.873, $1,908

Support levels: $1,796, $1,750, $1,717

XAUUSD Long-term Trend: Bullish

Gold is bullish in the long-term outlook. Last two weeks, the precious metal commences a bullish movement at $1,717. The bulls prevailed over the bears; that means there were more buyers in the market and the price incline to test the July high at the $1,831 price level. Early last week market was bearish, the price pulled back and tested $1,750 level. Toward the closing of last week market, the US Non-Farm pay roll fundamental triggered the bullish momentum and the price reversed towards $1,831 level.

The price is trading above 9 periods EMA and 21 periods EMA as an indication of a bullish trend. When the Bulls’ pressure increase further and breaks up the resistance level of $1,831, the price will be targeting the resistance level of $1,873 and $1,908 levels. Should the resistance level at $1,831 hold the price, the yellow metal may drop towards the support levels at $1,796, $1,750, and $1,717.

XAUUSD Medium-term Trend: Bullish

On the daily chart, Gold metal is bullish. The bearish momentum pushed down the price to found support at $1,750.The price bounces and the bulls take over the market. The former resistance level of $1,796 was broken upside and also could not hold the price. The precious metal exposes to a resistance level of $1,831 before the weekly market close.

The relative strength index period 14 is at 70 levels with the signal lines pointing up to indicate a buy signal.

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#Gold (#XAUUSD) Price: Bears Oppose Further Increase, Targeting $1,750 Support Level (30 October 2021)

On 30 Oct 2021 By Financial Consultant _Forex_Gold Xauusd| Fund ManagerIn Commodity, Forex, GOLD, Indices, INDICES, Online Forex Education, SILVER (XAGUSD), WTI, WTI CRUDE OIL, XauusdLeave a comment

Gold Weekly Price Analysis – October 30

Gold price may resume an uptrend movement provided the dynamic levels opposed the bears’ pressure, it may increase towards $1,796, $1,830 and $1,873 levels. Further increase in the bears’ momentum may push the price to $1,750 level and below the support level just mentioned are $1,717 and $1,908 support levels.

XAUUSD Market

Key levels:

Resistance levels: $1,796, $1,830, $1,873

Support levels: $1,750, $1,717, $1,680

XAUUSD Long-term Trend: Bullish

Gold is bullish on the long-term outlook. The bulls maintain their position in the Gold market on the daily chart. The price broke up the resistance level of $1,796 on October 25. Increasing towards the resistance level of $1,831. The sellers were resisting further price increase and the mark could not be reached. The price pulled back and retest the dynamic support levels before weekly market closed.

Gold is trading between the two EMAs which indicate that the bulls’ momentum is decreasing before the closing of Gold weekly market. The 9 periods EMA remains above the 21 periods EMA. Gold price may resume an uptrend movement provided the dynamic levels opposed the bears’ pressure, it may increase towards $1,796, $1,830 and $1,873 levels. Further increase in the bears’ momentum may push the price to $1,750 level and below the support level just mentioned are $1,717 and $1,908 support levels.

XAUUSD Medium-term Trend: Bearish

Gold is on the bearish movement on the 4-hour chart. The Bullish movement that commenced on October 18 at $1,750 support level pushes the price to break up the resistance level of $1,796. The bulls’ pressure failed before it reached the resistance level of $1,831. The price suddenly dropped with the formation of strong bearish candle. It is targeting the support level of $1,750.

The price is trading below the 9 periods EMA and 21 periods EMA as an indication of bearish market. The Relative Strength Index period 14 is at 40 levels with the signal line pointing up to indicate buy signal which may be a pullback.

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📊LIVE #XAUUSD SIGNAL: #GOLD📊 (29 October 2021)

On 29 Oct 202129 Oct 2021 By Financial Consultant _Forex_Gold Xauusd| Fund ManagerIn Commodity, Forex, GOLD, XauusdLeave a comment

#gold TP1 targeted🤑💰
For more #Signals 📈 pm on Telegram Financial Advisor

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Rehana William |Financial Consultant _Forex_Gold Xauusd| Fund Manager

#gold buy 1793.50

Tp 1798

Tp 1803

Tp 1812

Sl 1774

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📊LIVE #XAUUSD SIGNAL: #GOLD📊 (29 October 2021)

On 29 Oct 2021 By Financial Consultant _Forex_Gold Xauusd| Fund ManagerIn Commodity, GOLD, XauusdLeave a comment

#gold buy 1793.50

Tp 1798

Tp 1803

Tp 1812

Sl 1774

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Intraday Market Analysis – #Gold Seeks Support,#USDCAD pierces through supports and #USOIL retraces after overextension (28 October 2021)

On 28 Oct 2021 By Financial Consultant _Forex_Gold Xauusd| Fund ManagerIn Commodity, Forex, GOLD, Indices, INDICES, Online Forex Education, SILVER (XAGUSD), Uncategorized, WTI, WTI CRUDE OIL, XauusdLeave a comment

XAUUSD consolidates gains

Gold treads water as markets await a slew of central bank decisions in the coming days.

The recent break above the daily resistance at 1805 is a prerequisite for a bullish turnaround. However, the rally has met stiff selling pressure at the supply zone around 1813 which is at the origin of the September sell-off.

Along with a repeatedly overbought RSI, a combination of profit-taking and fresh selling may weigh on the precious metal in the short term. 1777 is the immediate support and its breach would send the price to 1760.

USDCAD pierces through supports

The Canadian dollar surged after the Bank of Canada ended its QE.

As the RSI from the daily chart showed an oversold situation, the greenback had attracted bargain hunters at its four-month low around 1.2300. However, it has given up all recent gains as it revisits the bottom.

1.2430 is now fresh resistance and the downtrend may resume. 1.2200 would be the next target as those who have been waiting for a catalyst join in. An oversold RSI has caused a temporary rebound which is likely to meet strong selling interest.

USOIL retraces after overextension

WTI crude tumbled after an unexpected surge in US inventories. Medium-term sentiment remains bullish, though an overbought RSI on the daily chart may prompt buyers to proceed with caution.

A fall below 82.50 and then 81.00 has exacerbated profit-takings as late buyers rushed for the exit. 79.50 is the next support.

A bearish breakout would extend the correction to 77.00 which was previously a resistance, making it an area of interest. An oversold RSI may trigger a rebound with 82.30 as a fresh resistance.

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XAUUSD FOREX INDICES ACCOUNT MANAGEMENT