Thread: Gold
Gold price is widely followed in financial markets around the world. Gold was the basis of economic capitalism for hundreds of years until the repeal of the Gold standard, which led to the expansion of a fiat currency system in which paper money doesn't have an implied backing with any physical form of monetization. AU is the code for Gold on the Periodic table of elements, and the price above is Gold quoted in US Dollars, which is the common yardstick for measuring the value of Gold
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imran.forex.6257 (2019-01-02), sadiq.86 (2019-01-02), sahilali (2019-01-02)
Gold Facing the 50 SMA Again on H4 Chart As USD Recovers
Gold (XAU) made a comeback last week after having declined for nearly a month in a straight line. Actually, Gold has been on a downtrend over the last two months, but during the last several weeks, the decline has been pretty straightforward with little to no bounces.
Although, last week we saw Gold turn bullish. In fact, this turnaround looked more like a retrace before the next move lower and that’s what is going on in Gold.
Gold was having some trouble pushing above the 100 SMA since the area around it had provided support and resistance previously. Gold buyers managed to push above the 100 SMA eventually, but they couldn’t keep it up there for too long. The USD buyers returned in the afternoon and Gold reversed back down.
Now, we are back at the 50 SMA which is providing some form of support. It has been pierced a few times, but the price is still too close to the 50 SMA, so this moving average is not broken yet. It provided solid support to Gold last week after being broken, so it is likely that it does the same now again.
The stochastic indicator is almost oversold, so the move down looks exhausted for now. Perhaps, we will see a move higher to the 100 SMA before the next bearish move which will likely break the 50 SMA for good. If I see Gold back up at the 100 SMA, then I might be persuaded to open a sell trade.
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Gold prediction for 11 July 2018
Dears members ready ho jaien gold ko sell karny main gold py sell ki entry laga dein gold down jay ga take profit 1244 and stop loss 1256 wish you best of luck
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Gold pair kafi up levels par movement kar choka he aur mere analysis k mutabik ye aj kafi down ho sakta he
Down level ye rahega : 1240
Focused levels : 1250
Normally levels. : 1244
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lal765 (2018-07-11), qasimm (2018-07-11), rehanayaz (2018-07-11), yulbang111 (2018-07-12)
gold aj ki price men kafi up ja raha is time ke price 1251.70 aur mere analysis k hesab se ye aj ki price men kafi down level tak jaega 1242.10 is price tak aur normal price 1247.40 ye rahege aj ke
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lal765 (2018-07-11), rehanayaz (2018-07-11), yulbang111 (2018-07-12)
gold maximum price 1260.40 and minimum 1234.20
Support Level 1 : 1254.30 Weekly R3 : 1248.30 Monthly
Support Level 2 : 1258.40 Short term R2 : 1244.50 Short term
Support Level 3 : 1264.60 Monthly R1 : 1238.90 Weekly
**************************** Trend : sell *********************************
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arshadlaskani (2018-07-11), khizar1 (2018-07-11), qasimm (2018-07-11), rehanayaz (2018-07-11), Unregistered (2), yulbang111 (2018-07-12)
Overbought stochastic
could trigger bearish correction testing 1506
area. While breakout above the bearish
channel indicating bullish bias targeting 1520
area before testing 1532 region.
Resistance Level : 1520, 1532, 1550
Support : 1506, 1488, 1475
Range : 1506 – 1532
Trend : Bullish
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rehanayaz (2018-07-11)
Forex Forecast with price level.
Gold - pair in focus
Current Price - 1.3124
main support level - 1235.00 1241.40
main resistance level - 1255.40 1261.80
Pair likely to be in Sell today.
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Intelligent (2018-07-11), MotuPatlu (2018-07-13), rehanayaz (2018-07-11), Ticky (2018-07-11)
GOLD
Date - 10 July, 2018.
Today signal - Sell
Support 3 - Support 2 - Support 1
1251.84 1254.77 1256.44
Resistance 1 - Resistance 2 - Resistance 3
1261.04 1263.97 1265.64
Time frame that is considered while making support and resistance levels - Daily and weekly Time frame
Consider the daily economic news before taking the trade.
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MotuPatlu (2018-07-13)
gold, the price goes down sharply yesterday. 1296.20 price to penetrate the area. This further strengthens the case if the daily MA has been trending down sharply, and is under the daily MA MA weekly trending down. there is no other option than sell. if you want to sell wait for the price bounces around MA daily. likely the price will go to 1280.10. but if it fails to be heading 1296.20
Gold technical analysis
date : 11.11.2013
time : 03:30 GMT
time frame : 15 min
indicator :
1) RSI (14)
value: 53.28
2) MACD (26,12,9)
value: -0.220
3) ADX (14)
value: 29.67
4)CCI(14)
value: 115.50
overall trend - slightly bullish.
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