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    Thread: XAU/USD, GOLD (part 5)

    1. #451 Collapse Post
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      Quote Originally Posted by FxTaylor     
      Gold is trading above the level of 1712.00. I anticipate the price to move in the upward trend from 1719.00 and reach the level of 1722.00 or possibly 1728.00. If the price is below 1710.00, it is likely to fall to 1700.00 and even to 1692.00.

      The pair is below the daily Pivot level of 1701.00 and the trend line. Indicators are showing the upward trend. However, I expect a breakout at 1719.00. Otherwise, a pullback is likely to occur.

      Attachment 196029
      Hello friend, thanks a lot for sharing this detail analysis of gold. I agree with your analysis, the metal has to break above the 1720 level to confirm the breaking of the symmetrical triangle and if it breaks above the triangle successfully then we can target upto 1740.50 area. On the other hand if the pair breaks below the 1701 then we are down to the support level if 1690 area and further decline could get us to the 1670 level. I think the gold is gearing up to make the move but need to watch out for false breakout, wishing you best o fluck with the trading.

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    2. #452 Collapse Post
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      Hello Traders,

      Gold prices are up close to 0.80% on the day led by a modest risk-off rally. This comes amid renewed tensions between the United States and China. The breakout off the 1712.50 level comes after a prolonged period of consolidation.

      However, gold is not out of the woods as it approaches the previously set highs near 1747. Only a strong breakout above this level will confirm whether gold prices can continue the rally. Meanwhile, the ascending triangle is validated which gives a downside to 1718, followed by 1700.
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      Gold increased during the Asian session. The precious metal updated last week's high. Escalation of tensions between the United States and China became the main catalyst for price growth. Trade war between these two countries is likely to intensify. Against this background, investors turn to safe-haven assets. I expect a downward correction to occur in the first half of the day. Overall, I anticipate the upward trend to continue. Gold is trading under bullish control. An estimated reversal point is at the level of 1743. I am going to buy from this point with targets at 1785 and 1795. In an alternative case scenario, the price may fall, break out at 1743 and consolidate. In such a case, gold may drop to the levels of 1735 and 1728 dollars per ounce.


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      Quote Originally Posted by ForexRich     
      Attachment 197527

      Gold increased during the Asian session. The precious metal updated last week's high. Escalation of tensions between the United States and China became the main catalyst for price growth. Trade war between these two countries is likely to intensify. Against this background, investors turn to safe-haven assets. I expect a downward correction to occur in the first half of the day. Overall, I anticipate the upward trend to continue. Gold is trading under bullish control. An estimated reversal point is at the level of 1743. I am going to buy from this point with targets at 1785 and 1795. In an alternative case scenario, the price may fall, break out at 1743 and consolidate. In such a case, gold may drop to the levels of 1735 and 1728 dollars per ounce.
      Hello friend, thanks alot for this details analysis and these analysis are really working helping out so many traders. Just as you predicted the gold has moved bearish with a very strong momentum and if this is how the day are closing then there will be more bearish move. Because the H4 chart is showing negative mode and the Day 1 chart is about to form a pin bar. To confirm he bearish process the metal has to finish lower and that will help to finish the bearish pin bar formation. But this bearish move wasn't that much of expected many buyers are now seems to be trapped. I think the US China business dispute are creating havoc in the market, we must be careful about our our entries. Must need to maintain money management properly and without confirmation we should not make any entry.

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    5. #455 Collapse Post
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      The two main reasons why the golden rally stalled yesterday. Firstly, it is a movement higher in oil, which has not brought any benefits due to the long-established inverse correlation between metal and oil. Consequently, a significant recovery in oil prices did not bring any benefit to the metal. Secondly, the complete absence of risk aversion due to the sharp growth of stock markets seems to have pushed the price to profit-taking, which drove it from a maximum of 1765.43 to 1727.40, and then to a close at 1732.55. This close was technically negative, as it was lower than the previous day's close, and negative the day after the fresh 7-year high was reached. The good news is that the price has not closed inside the pennant from which it made its way earlier. In one night, the price rose again above 1740, but it will need to recover more than today to nullify the chances that yesterday’s closure was technically negative, which further complicates the price action and undermines the chances of movement by 1786 for which earlier performed here.


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      Gold is trading near the opening level of the day, that is, 1727.00. If the price goes above the level of 1730.00, gold is likely to extend the upward movement to 1737.00 or may be to 1750.00. Otherwise, if the price is below the 1722.00 level, it is likely to fall to 1715.00 or even to 1700.00.

      The pair is trading near the daily pivot point of 1730.00 and below the trend line. The indicators are heading up. I am anticipating the upward movement. However, a breakout at 1730.00 is likely to occur. Otherwise, I expect a pullback.

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    7. #457 Collapse Post
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      Quote Originally Posted by FxTaylor     
      Gold is trading near the opening level of the day, that is, 1727.00. If the price goes above the level of 1730.00, gold is likely to extend the upward movement to 1737.00 or may be to 1750.00. Otherwise, if the price is below the 1722.00 level, it is likely to fall to 1715.00 or even to 1700.00.

      The pair is trading near the daily pivot point of 1730.00 and below the trend line. The indicators are heading up. I am anticipating the upward movement. However, a breakout at 1730.00 is likely to occur. Otherwise, I expect a pullback.

      Attachment 199180
      Gold is holding very well above this resistance level and Gold should go in bull zone and now onarea and chances are made for buy side and if you see closely last few daily candles then you can see that price is rejecting from this support level annd it should go for bullish today from to area, so I think now we should look for the bullish opportunities for further bullish movement you must use stop loss and take profit tool with every tradeand set take profit on area.


    8. #458 Collapse Post
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      The price of gold is now located at the crossroads of the downward and the upward channels. At the same time, the quotes have almost left the downward channel. Given the weakening of the US dollar index, the likelihood of a repeated hike has increased. Thus, the channel that started to form on April 13 is likely to continue to exist. I anticipate the price to rise to the level of 1740.00 soon. A decrease below the mark of 1700.00 will cast doubt on further growth and, accordingly, on the relevance of the upward channel of the quotes.

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    9. #459 Collapse Post
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      Hello, dear traders! Let's make the technical analysis of the quotes on the H1 time frame.

      Today, the two-week daily volatility for gold is $21. The potential of the price movement in the upward direction is at the level of 1732.93. The highest target in the downward trend is located at 1700.20. The resistance level for the instrument is 1725.83. If the price breaks out and consolidates above this level, the next target is seen at the level of 1732.93. If there is a breakout at the support level of 1714.80, the price is likely to fall to 1703.78. The Stochastic indicator on the D1 signals buys. Therefore, I anticipate the price to reach the 1730 mark today.

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    10. #460 Collapse Post
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      Today, gold is trading in the range. The precious metal is located slightly below yesterday’s closing levels. Increasing risk appetite among investors puts gold under pressure as countries around the world are easing quarantine restrictions. At the same time, violent outbreaks in major US cities are keeping main precious metals from declining. As for gold, I do not expect any sharp movements of this instrument. Apart from that, a moderate downward correction is likely to continue. Overall, I anticipate a continuation of the upward trend. Gold is still under bulls’ control. The estimated reversal point is located at the level of 1705. I am going to buy above this mark with the target levels at 1755 and 1775. Alternatively, if the price falls, breaks out at 1705, and consolidates, the target levels will be seen at 1685 and 1675 dollars per ounce.


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