Gold

[ashaab]

Gold rebounded to the upside, achieving the targets suggested before, but the bullishness stopped around the barrier of 1582.00, where the metal reverses to the downside now, affected by the negativity of Stochastic. But, in general, the intraday upside move might extend today, targeting 38.2% Fibonacci correction as shown above, as a breach of this level will support the metal to move towards 1599.00 and then 1616.30.



Recommendation : Based on the charts and explanations above, our opinion is buying gold with a breach of 1582.00 targeting 1599.00 and 1616.30 and stop loss with four-hour closing below 1570.00 might be appropriate

[ashaab]

Gold if offering upside reversal signs and that is normal with the completion of the Deep Harmonic Pattern, where its CD leg was an IM wave. We believe that there is a good chance for the upside move to resume to test 23.6% correction of CD leg at 1561.00 then move to the first target of the harmonic patter at 38.2% correction at 1582.00. Breaching areas of 1510.00 weakens the positive expectations, while a breach of 1498.00 negates it.



Recommendation : Based on the charts and explanations above, our opinion is buying gold around 1540.00 targeting 1552.00, 1561.00 and 1582.00 and stop loss with four-hour closing below 1510.00 might be appropriate

[simpleforex68]

I will analyze in H1 chart of the pair. We can see the price is below the Ichimoku Kumo Cloud and EMA 200. These signals confirm for the downtrend. The price is approaching the Kumo Cloud. So, I think it will be down.

[khaled24]

Gold will reach a level @ 1520.71 which always correct its direction after hitting it , we can say that Gold is almost @ this point now , we can now buy the pair make a very good profit as usual with gold when we set the target points @ 1614.50 then @ 1673.75 , Good Luck

[Nabi Ahmed Gill]

Main ye thread GOLD ke discussion ke liye bana raha hain. Sabhi members ko ya post karne ke liye swagat karta hoon.

yar gold boht he zadia risky pair ha ro es main loss boht zada hota ha agr es main loss boht zada hota ha to es main profit be bht zada hota ha es laya mai es pair ko used he nahi karta hooon q k mara account main balance boht he kam ha.

[yogesh]

It looks that investors have lost their faith in gold due to non-stop selling witnesses in past few sessions, and there looks no committed investors until market succeed in making few positive sessions and try to regain the faith of investors.

[ashaab]

Gold reached sensitive areas, which is the support between 1532.00 and 1498.00 per ounce. We can see that gold reached areas around the support for the main descending channel and momentum indicators are within oversold areas. Therefore, we see that gold might start an upside correction move today as far as 1498.00 remains intact . The expected bullish move is only a correction and fails with the breach of 1498.00.



Recommendation : Based on the charts and explanations above, our opinion is buying gold around 1529.00 targeting 1540.00, 1556.00 and 1566.00 and stop loss with four-hour closing below 1498.00 might be appropriate

[simpleforex68]

I would like to analyze in long term view of the pair. We can see that the price is in downtrend because it is below the Ichimoku Kumo Cloud and EMA 200. So, I think the price will increase slightly to the Kumo Cloud and then it will decrease strongly.

[nurdiantofxwave]

Gold plunged from the highest point in the american session yesterday at 15.63.10 level. Technically ma 16 has intersected with the ma 96. Now price is going to support a daily point (1535.03). if the decline continues then it is likely the price will reach a point of support at 1535.03 weekly.

[ashaab]

According to our previous report yesterday and last week, gold declined reaching the level of 1552.00, which represents the main target of the symmetrical triangle and also 88.6% Fibonacci correction as shown above. According to Fibonacci tools, which measure the possible extension of the downside movement, we find that the levels of 1536.00 and 1498.00 are the potential zones. A breach of 1552.00 might support gold to reach these areas through extending the downside movement during the session today , based on stability below 1579.00.



Recommendation : Based on the charts and explanations above our opinion is selling gold around 1555.00, targeting 1536.00, 1505.00 and 1498.00 and stop loss with 4-hour closing above 1590.00 might be appropriate.