


TheGoldenCircle
PremiumGold bounced off the support zone at $1,615-20 for the third time since the end of September and started a strong recovery. Gold is now testing the resistance zone at $1,680. It should be noted that this is also the level at which gold was trading under 1660-70 before Wednesday's FOMC meeting, meaning that the gold price fully recovered losses after the FOMC...
DXY going to test channel resistance on monthly chart , RSI is overbought and this is the only hope for gold right now.
From the Price Action it is clear that after breakout gold re tested this trendline and now looking good .Also on DXY we can see double top which can help gold bulls. So for this week if gold hold on 1750 then we can see 1800 again soon. Today's Outlook:📝 Weekly candle : Bearish Day Candle: Bullish Trend : Down Major News USD : Jobless Claims 🔔 Intraday support...
So gold is moving in upside direction from last 4 weeks after testing the major support level of 1680 .COT report from last week also showing bullish sentiments like the previous one .On the price action 1728-30 is major level of resistance so we can expect test at this zone if gold able to hold on 1800 level.
This Inverted chart showing continuation of trend and as per this setup we can expect bullish move from gold.
This is weekly chart of dxy and clearly we can see that it is over stretched and trading far away from 200 MA , also we can see that it already breakdown the parabola so more decline decline is possible as per this setup . If dxy follow this setup then we can expect good bullish move on gold in coming trading sessions.
In this daily chart we can see that Gold is trying to breakout this trendline in upper side and in yesterday trading session we have seen good test of this resistance zone . Also last week COT report data showing short covering and Also MM adding money into longs.So if gold able to close above this resistance zone(1795-1800) then we can expect good bullish journey...
After testing 1680 gold rebound and we have seen good bounce towards 1740. On Fib retracement we can see that 1710 (0.5 also HVN) is major support for retracement so if gold able to hold 1703-10 zone today then we can see another test towards 1740 . Breakdown of 1700 can generate more decline ,bulls look to 1,741 and 1,750 ahead of Fed
So as discussed yesterday we have seen bounce from the major support of 1680 which was supported by the decline of DXY and gold bounced. Now the question is whether gold will maintain this boost or it will back under 1700.Most importantly shorts looking to lock in max profit now have to decide whether to cover here , or possible higher as their profit fade . on H4...
So finally we are here ...As it is clear from the chart that gold is heading towards the 1678-80 support zone so this is the major support right now and we can expect some correction of price from this major support. On Intraday levels if Gold able to hold on this zone then we can look for buy and expect some corrections but if breakdown this zone then we will...
This is the third day in row for DXY decline but gold is not reacting to the movement of DXY and gold trading inside the range , today we have extreme narrow CPR on Intraday chart which Indicated trending day and big movement day. The Zone 1705-10 is High Volume Node and gold trading at this zone right now. The way it is moving indicating good movement in coming...
In yesterday's trading session we have seen correction on DXY chart and gold also tried to recover but the gains on gold chart was limited . For today and from the price action it seems that that buying is still limited in the Gold ,we have seen that gold tried to trade above 200MA on 15 Min TF but soon after a good bounce it retraced back under the 200 MA and it...
On price action chart 1680 is important level to watch (The Last Hope) and if Hold the we can expect reversal of trend from here but breakdown will result in long term bearish trend . Managed Money - mostly hedge funds & always heaviest net long gold futures contracts at tops and least net long at bottoms . On the Intraday Levels we can see that the CPR is narrow...
As discussed yesterday Gold is Holding well on this marked Zone , for today if Gold able to hold on this zone then we can expect a test towards 1820 . Today's Outlook: Weekly candle: Bearish Day Candle: Indecisive Trend: Down Major News: 0 Intraday support as per Open Interest: 1800, Intraday Resistance as per Open Interest: 1810,1820 CPR: Narrow(Ascending)...
This zone Holding well if Hold before Home sale Data then we can see good upside move and breakdown will result in more decline
Gold Trading Inside this Triangle , Choose Your Path and we can expect good move after breakout / breakdown of this Triangle
Gold is trading in range this month , something big is coming
Bearish Flag Pattern on 15 Min Lets see if breakdown 1844