The bias remains bearish towards the key support area at 1685 area. It takes break down this area to continue the bearish trend towards the 1675 area for gold.
Thread: Gold
The bias remains bearish towards the key support area at 1685 area. It takes break down this area to continue the bearish trend towards the 1675 area for gold.
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Hamzagoroo (2019-05-25)
Yen weakens across the board BTMU
The yen has continued to weaken in the Asian trading session with USDJPY and EURJPY climbing above 80.0 and 104.0 respectively. According to the BTMU Research Team, "Yen weakness overnight continues to reflect building expectations of additional monetary policy easing from the BoJ at next week's meeting." The Nikkei reported overnight that the BoJ is considering increasing its asset purchase program by JPY10.0 trillion.
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Hamzagoroo (2019-05-25)
Technically, gold moved in a restricted area of consolidation between 1713-1698 price level.
If gold is able to break up then gold will move to the level of 1729 before returning to weaken.
If gold is able to break down then gold will go before the 1675 price range rebound.
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Hamzagoroo (2019-05-25)
The short term trend of the Gold is to the upside. Intraday trading range of the Gold is expected among key support at 1685.00 and key resistance at 1750.00. Based upon my chart analysis, I prefer to buying the Gold around 1700.00 with targets 1715.00, 1728.00 then 1755.00 and stoploss is below 1675.00.
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Hamzagoroo (2019-05-25)
Elliott: elongated flat correction down 1693.96
Current fall is near an end of wave around 1695.66 zone, a rally should then procede to above 1711.34. Fall below 1689.34 would cancel this scenario.
Warning: End of trend - Imminent end of bearish move
Technical points
Key point 1,697.9400
Entry point 1,702.9000
Elliott 1,753.6300
Closing 1,701.9700
Projection 1,689.2600
Trendline 1,716.0500
Trendline 1,698.5500
Supports / Resistances
Res 2 1,720.7100
Ex-High 1,714.3900
Res 1 1,711.3400
Pivot 1,705.0200
Sup 1 1,695.6600
Ex-Low 1,698.7100
Sup 2 1,689.3400
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Gold technical analysis for 25.10.2012 by using : Auto pivot indicator.
resistance 3:1725.83
resistance 2:1719.67
resistance 1:1710.43
pivot point :1704.27
support 1:1695.03
support 2:1688.87
support 3:1679.63
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Hamzagoroo (2019-05-25)
The Big trend on look still bearish. The most Big MA show nice bearish here. But for intraday trade - just be aware - this bearish look weak, I see as long as the seller on this pair can not break down more to that daily break at 1698.46. With this look search for sell better after that 1698.46 can be break form top. Or we can set pending order sellstop on bellow that 1698.46.
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Hamzagoroo (2019-05-25)
For today's trading, gold is expected
to move in a range between $ 1.698 to
$ 1.723 before determining the
direction of the next movement.
Gold is likely to try to level $ 1.688 or $
1.672 if managed through the level of $ 1.698. Meanwhile,
when gold broke through the $ 1.723
level, then the next target level $
1.739 or $ 1.749.
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GOLD can not able continue up but retrace down after touch weekly support 1 level (1706.63). Since asian session market opened, gold can rise limited and now go down. It predicted will move sideways in a limited range for movement today.
Hamzagoroo (2019-05-25)
No one knows how the gold?
if it is bearish?
how is the condition of gold to 1 week ahead?
if anyone could give clues?
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Hamzagoroo (2019-05-25)
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