Do you take into consideration what DXY is doing? With it being so bullish atm its so hard to tell where it may go and then the affect on gold after
Gold (XAU/USD) Technical Outlook by AliForexTalks
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Do you take into consideration what DXY is doing? With it being so bullish atm its so hard to tell where it may go and then the affect on gold after
I watch $DXY and odds are in favor of it going higher which helps push Gold lower, but I really try to keep things simple and only look at fundamentals or correlations after technicals.
Price always rules.
Gold Daily Outlook - May 10, 2022 Gold price tests 1890.00 level, and as long as the price is below this level, our bearish overview will remain valid on the intraday basis, supported by stochastic loss to the positive momentum, waiting to get negative motive that assists to push the price to visit 1850.00 that represents our next target. Good luck!
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Agree, price wont lie. Thanks mate
Long overdue on gold, looking for a good entry on the daily but it may take some time to find support
I think DXY has to have a good retracement too so could be nicely in line with a Gold bull run coming
Gold Daily Outlook - May 23, 2022
A clear upside break of the monthly falling channel, combined with a firmer RSI (14), keeps gold buyers optimistic within a one-week-old rising channel formation. However, the 100-SMA level near $1,852, followed by the upper line of the stated weekly channel near $1,860, limits the short-term XAU/USD upside.
Gold's corrective moves remain elusive beyond the support line of the aforementioned channel, which was at $1,825 at the time of publication.
Gold price continues to fluctuate near 1850 level, remaining stable below it until now, and stochastic continues to provide negative signals on the four hours time frame, waiting to resume the bearish wave with next targets located at 1812.50 followed by 1780.25, noting that breaching 1850 will cause the price to begin intraday recovery.
Today's trading range is expected to be between 1815.00 support and 1855.00 resistance. Good luck!
A clear upside break of the monthly falling channel, combined with a firmer RSI (14), keeps gold buyers optimistic within a one-week-old rising channel formation. However, the 100-SMA level near $1,852, followed by the upper line of the stated weekly channel near $1,860, limits the short-term XAU/USD upside.
Gold's corrective moves remain elusive beyond the support line of the aforementioned channel, which was at $1,825 at the time of publication.
Gold price continues to fluctuate near 1850 level, remaining stable below it until now, and stochastic continues to provide negative signals on the four hours time frame, waiting to resume the bearish wave with next targets located at 1812.50 followed by 1780.25, noting that breaching 1850 will cause the price to begin intraday recovery.
Today's trading range is expected to be between 1815.00 support and 1855.00 resistance. Good luck!
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Gold Daily Outlook - May 30, 2022
The gold price faced negative pressure in the previous sessions, testing the key support of 1850.00. However, the price is now consolidating beyond this support, as the EMA50 protects the recently suggested positive scenario, and stochastic begins to provide positive overlapping signals.
As a result of these factors, we recommend a bullish bias in the coming sessions, with a target of 1890.00 as the next main station. However, a break of 1850.00 followed by 1838.10 will halt the expected rise and force the price to fall. Today's trading range is expected to be between 1835 support and 1880 resistance. Good luck!
The gold price faced negative pressure in the previous sessions, testing the key support of 1850.00. However, the price is now consolidating beyond this support, as the EMA50 protects the recently suggested positive scenario, and stochastic begins to provide positive overlapping signals.
As a result of these factors, we recommend a bullish bias in the coming sessions, with a target of 1890.00 as the next main station. However, a break of 1850.00 followed by 1838.10 will halt the expected rise and force the price to fall. Today's trading range is expected to be between 1835 support and 1880 resistance. Good luck!
