Thread: Gold
A major directional breakout seems unlikely until Wednesday when the Fed unveils the outcome of the sit-down, but the technical picture continues to argue for a double top below the $1900/oz figure marked by a pair of Bearish Engulfing candlestick patterns.
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XAUUSD was strongly bearish yesterday, broke below 1757 support which is also the actual neckline of the daily double top. The bias is bearish targeting 1663 area barring minor stoppages. On H4 price still has some support (thick yellow line), but I think that after minor consolidation there it would give way on the downside.
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we can notice from the chart that the Gold has closed it's daily candle under 1670.00 , that's mean the down trend is expected and the pair might head to 1650.00 then 1640.00 , however the pair made a hourly correction
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If a M15 close above 1700 buy only and do not sell. If price closes back below it again do nothing.
If a M15 close below 1652 sell only and do not buy. If price closes back above it again do nothing
The range 1700 and 1652 is neutral area, any trade done in between is personal decision and not part of this analysis
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as we can see from the chart the pair has success in breaking the level of 1700.00 and now the pair is trading under it , that's mean the down trend is standing and the pair might head to 1685.00 then 1675.00
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If a M15 close above 1750 buy only and do not sell. If price closes back below it again do nothing.
If a M15 close below 1702 sell only and do not buy. If price closes back above it again do nothing
The range 1750 and 1702 is neutral area, any trade done in between is personal decision and not part of this analysis
Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.
we can notice from the chart that the Gold has closed it's daily candle under 1750.00 , that's mean the down trend is expected and the pair might head to 1730.00 then 1720.00 , however the pair made a hourly correction
Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.
Gold moved higher on Tuesday afternoon, helped by the rupee, which hit its lowest level in two years, making the dollar-quoted yellow metal expensive, dealers said.
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If a M15 close above 1800 buy only and do not sell. If price closes back below it again do nothing.
If a M15 close below 1750sell only and do not buy. If price closes back above it again do nothing
The range 1800 and 1750 is neutral area, any trade done in between is personal decision and not part of this analysis
Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.
the pair and as we can see from the chart has closed it's daily candle under the level of 1790.00 , so , that's mean the down trend is still standing and the pair is heading to 1975.00 then 1965.00
Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.
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