Start your investment and trading journey with a deep education on financial market.
The beginner's guide to Forex market
Home > Technical Analysis

Category: Technical Analysis
Comex, Investing Strategies, Market, Market Hours, Technical Analysis
2 months ago by

XAU/USD Technical Outlook – 07, Aug

Gold Price remains well beneath the jungle of resistances surrounding $1,940-60, which in turn joins a comparative space towards the south before hitting $1,915 support to lure the XAU/USD sellers.

That said, Fibonacci 61.8% on one-month, around $1,935 by the press time, acts as the last defense of the Gold buyers, a break of which could quickly drag the quote toward $1,915 support confluence encompassing Pivot Point one-month S1 and one-day S2.

It’s worth noting that the Gold Price weakness past $1,915 will make it vulnerable to testing the $1,900 threshold.

Alternatively, Fibonacci 23.6% on one-day and 38.2% on one-week restricts the immediate upside of the Gold Price near $1,940.

Following that, the previous daily high and the upper band of the Bollinger on the hours chart could test the XAU/USD run-up near $1,948.

In a case where the Gold Price remains firmer past $1,948, the 10-DMA level of around $1,952 can check the metal’s further upside.

Above all, the middle band of Bollinger on one-day, Fibonacci 61.8% on one-week and 38.2% on one-month appear a tough nut to crack for the Gold buyers near $1,955.

In a case where the XAU/USD remains bullish past $1,955, the $1,960 resistance encompassing Pivot Point one-day R2 will act as the final defense of the bears.

Source: fxstreet.com
Forex, Gain and Loss calculator, Indices, Investing Psychology, Investing Strategies, Market, Technical Analysis
2 months ago by

EURUSD Technical Outlook – 1, Aug

The EUR/USD gave up some of Friday's gains after being unable to rise above the 20-day Simple Moving Average (SMA). It continues to approach an important uptrend line that stands around 1.0960/65, with a break lower increasing the likelihood of a slide to the July low at 1.0830. On the daily chart, signs are mixed, with Momentum with a downward trend hovering around 100, and the Relative Strength Index (RSI) moving south. Risks look tilted to the downside.

On the 4-hour chart, risks are also tilted to the downside, with the price below the 20-SMA and under 1.1000. A test of the mentioned trendline seems likely if the price drops below 1.0980. A slide under 1.0960 should increase the bearish pressure, exposing last week's low at 1.0943; below that, the next target is the 1.0900 zone. On the upside, a recovery above 1.1040 would improve the outlook for the Euro. For the pair to change the short-term bias to bullish, it needs to break above 1.1105, surpassing a downtrend line and key SMAs.

Source: fxstreet.com
Comex, Investing Strategies, Technical Analysis
9 months ago by

XAU/USD Technical Outlook – 22 Dec

Nothing seems to have changed from a technical perspective, as Gold price still yearns for acceptance above the horizontal trendline resistance at $1,825.

Daily closing above the latter will yield a big breakout, opening doors toward the $1,850 psychological level. Ahead of that the $1,830 round figure will challenge the bearish commitments.

The bullish 14-day Relative Strength Index (RSI) and a bull cross confirmation lend support to the bullish outlook in Gold price.

The bullish 21-Daily Moving Average (DMA) at $1,785 has pierced the horizontal 200DMA for the upside, awaiting confirmation on a daily closing basis.

Alternatively, a rejection at the $1,825 resistance could recall sellers toward the critical confluence support at $1,785.

On its way downwards, Gold price could battie the December 14 high of $1,814, below which a sharp drop to the $1,800 mark cannot be ruled out.
Comex, Investing Psychology, Investing Strategies, Technical Analysis
9 months ago by

XAU/USD Technical Outlook – 21, Dec

Gold price needs to recapture the previous high of $1,821 to challenge the multi-month top at $1,825. Acceptance above the latter will initiate a fresh upswing toward the $1,830 round figure. The 14-day Relative Strength Index (RSI) has turned but holds comfortably above the midline, suggesting that any pullback in Gold price remains a ‘good buying’ opportunity.

Further, the bullish 21-Daily Moving Average (DMA) at $1,782 is on the verge of cutting the horizontal 200DMA at $1,785 from below, awaiting confirmation of another Bull Cross. The upward-sloping 50DMA pierced through 100DMA for the upside last week, which could be partly attributed to the renewed upside in the Gold price.

However, if Gold bulls fail to take out the $1,825 resistance, then a reversal toward the 200DMA support. Ahead of that the December 14 high of $1,814 could be tested. Also, the $1,800 threshold will offer strong support to Gold buyers should the retracement gather traction.
Comex, Investing Psychology, Investing Strategies, Market, Technical Analysis
9 months ago by

XAU/USD Technical Outlook – 19, Dec

Gold price is seeing a fresh ray of light, as it closed the previous week above the critical 200-Daily Moving Average (DMA) at $1,786. That said, buyers could extend their control amid a bullish 14-day Relative Strength Index (RSI). The RSI is inching higher above the midline, currently standing at 57.98.

Meanwhile, the upward-sloping 50DMA has pierced the flattish 100DMA from below but traders await the confirmation of a Bull Cross on a daily closing basis. The immediate upside hurdle is placed at the $1,800 level, above which the December 15 high at $1,809 will be put to test once again. Acceptance above the latter could trigger a fresh upswing toward the multi-month high of $1,824.

On the flip side, the 200DMA resistance-turned-support could restrict any pullbacks. A daily closing below the 200DMA could challenge bullish commitments at the ascending 21DMA at $1,775. A decisive close below the 21DMA support will negate the ongoing upside momentum.
Comex, Education, Investing Psychology, Investing Strategies, Technical Analysis
9 months ago by

XAU/USD Technical Outlook – 16, Dec

Gold price has found buyers once again near the mildly bullish 21-Daily Moving Average (DMA) at $1,772, prompting a tepid bounce toward the bearish 200DMA at $1,787. A sustained break above the latter is needed to extend the recovery momentum toward the $1,800 level. The next upside target is envisioned at the previous day’s high of $1,809.

The 14-day Relative Strength Index (RSI) is inching slightly higher while above the midline, suggesting that there is more room for recovery. Adding credence to the bullish potential, the upward-sloping 50DMA is set to cut the flattish 100DMA from below, which if materialized on a daily closing baiss will confirm a Bull Cross.

On the flip side, daily closing below the 21DMA support is critical to negate the bullish thesis. A sharp drop toward the previous week’s low at $1,766 will be on cards, if Gold bears flex their muscles below the 21DMA. Further south, the November-end lows near $1,740 could be on Gold sellers’ radars.
Comex, Investing Strategies, Position Size Calculator, Technical Analysis
9 months ago by

XAU/USD Technical Outlook – 15 Dec

Gold price pares intraday losses while bouncing off the 200-Hourly Moving Average (HMA), currently around $1,790. The recovery moves also take clues from the oversold RSI conditions to tease the buyers.

However, bearish MACD signals and multiple hurdles towards the north challenge the XAU/USD bulls. Among them, a two-week-old horizontal resistance area near $1,805 gains the attention of intraday buyers.

Following that, a downward-sloping resistance line from Tuesday, near $1,810, could act as an additional upside filter to challenge the Gold buyers. On the flip side, an ascending trend line from November 30 adds strength to the $1,790 support, by joining the 200-HMA.

In a case where the Gold price remains bearish past $1,790, the resulting downturn could aim for the weekly low near $1,777 and then to the monthly trough surrounding $1,765.

Overall, the Gold price remains bullish unless breaking $1,790 support confluence.
Comex, Investing Strategies, Market, News, Technical Analysis
9 months ago by

XAU/USD Technical Outlook- 14, Dec

Technical readings in the XAU/USD daily chart favor another leg north. Gold has broken above its former multi-month high of $1,810.08, an immediate support level, while it also extended its rally above a mildly bearish 200 Simple Moving Average (SMA). The 20 SMA remains far below the current level, recovering its bullish slope, while technical indicators resumed their advances within positive levels.

In the near term, and according to the 4-hour chart, XAU/USD lost momentum, but bulls retain control. The pair is well above bullish moving averages, with the 20 SMA gaining upward traction above the longer ones. Technical indicators remain within positive levels but turned lower, reflecting the ongoing slide rather than anticipated another leg lower.

Support levels: 1,810.00 1,798.70 1,786.15

Resistance levels: 1,824.55 1,833.10 1,846.20
Comex, Education, Investing Psychology, Investing Strategies, Market, Technical Analysis
9 months ago by

XAU/USD Technical Overview – 13, Dec

The daily chart for the XAU/USD pair shows that it retreated below the 200 SMA, which is now providing dynamic resistance at around 1,791.20. A more relevant one is the daily high of $1,797.10. The 20 SMA has turned flat below the current level but still stands well above the 100 SMA. Finally, technical indicators ease within positive levels, reflecting the ongoing slide rather than suggesting more declines ahead.

In the near term, and according to the 4-hour chart, XAU/USD is neutral-to-bearish. The bright metal has extended its decline below a mildly bullish 20 SMA, while the longer ones remain far below the current level. The Momentum indicator, in the meantime, is now flat at around its 100 line, while the RSI heads firmly south at around 46, anticipating a potential slide.

Support levels: 1,775.15 1,762.70 1,749.10  

Resistance levels: 1,797.10 1,807.30 1,818.90
Comex, Investing Psychology, Investing Strategies, Market, Technical Analysis
10 months ago by

XAU/USD Technical Outlook – 9, Dec

Looking at the daily chart, the renewed upside in the Gold price is likely to gain momentum, as bulls have recaptured the mildly bearish 200-Daily Moving Average (DMA) at $1,792.

With the 14-day Relative Strength Index (RSI) pointing north above the midline, Gold price remains on course to retest the five-month highs at $1,810. The next key resistance is seen at the upper boundary of the month-long rising wedge pattern, now placed at $1,816.

In case, the Gold price yields a weekly closing below the 200DMA on a renewed selling pressure, then the correction could resume toward the lower boundary of the wedge at $1,777.

Daily closing below the abovementioned rising trendline support could confirm a reversal to the ongoing uptrend, as it will validate a bearish wedge.

The horizontal (dashed) trendline at $1,725 could come to Gold buyers’ rescue, although they need to beat the bullish 21DMA at $1,767 first.

Back to Top
Product has been added to your cart
Close