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XAU/USD Price Analysis: Gold Plummets into Downtrend Support. DailyFX provides forex news and technical analysis on the trends that influence the global currency markets. Live Gold Spot to US Dollar rate. Free XAU USD chart with historical data. Top trading ideas and forecasts with technical analysis for world currencies. Live Gold Spot to US Dollar rate. Free XAU USD chart with historical data. House Rules Moderators People Chat Stock Screener Forex Screener Crypto Screener Economic Calendar.
There is a bullish engulfing pattern and I might be looking for a long entry at around , but first I want to see how price will open. If price manages to push past the level, I will be looking for the next major resistance level at and then potentially This material is written for educational purposes only.
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Trading and Investing involves high levels of risk. The author expresses personal opinions and will not assume any responsibility whatsoever for the actions of the reader. The author may or may not have positions in Financial Instruments discussed in this newsletter. Future results can be dramatically different from the opinions expressed herein.
Past performance does not guarantee future results. Close alert Thanks for following this author! Close alert You've unfollowed this author. You won't receive any more email notifications from this author. I buy when the price breaks and hold above the blue line. I sell when the price breaks and hold below the red line. Both scenarios should have a true breakout with at least closed bars as a confirmation.
In neutral area between blue and red when signals are mixed - I give priority for the last signal. We are going to take a long position in Gold at this fresh demand zone. Risk to reward is over 1: Gold is completing an ending diagonal as wave c of the wave a , b , c zigzag. The ending diagonal is going through the process of completing wave 5 in the ending diagonal , since wave 3 is larger in size than wave 1 , wave 5 is going to be larger than wave 3.
A price movement beyond the encompassing support line of ending diagonal will invalidate If You have a different point of view Please kindly comment or post your chart image below and Substantiate. Past performance does not guarantee future results. The gold price appreciated 0. On Monday, the yellow metal was located below the monthly pivot point at the 1, In regards to the near-term future, most likely, the yellow metal will move downwards to the bottom boundary of the pattern due to the resistance of the hour simple moving average.
It seems that the rate
Gold move high yesterday and close around which give more confidence towards our first target Your email address will not be published.