Weekly XAUUSD Technical Analysis and Forecast - Commodities

Языки

website utilities

+1 64 64 8000 31 (New York, USA)

Sidebar List Commodities

Commodities
Brent Crude Oil (BRENT)^new
Natural Gas (NGAS)^new
West Texas Intermediate Oil (WTI)^new
Silver (XAGUSD)^new^free
Gold (XAUUSD)^new

Forex
AUDCAD^new
AUDCHF^new^free
AUDJPY^new
AUDNZD^new
AUDUSD^new
CADCHF^new
CADJPY^new
CHFJPY^new
EURAUD^new
EURCAD^new
EURCHF^new
EURGBP^new
EURJPY^new
EURNZD^new
EURUSD^new
GBPAUD^new
GBPCAD^new
GBPCHF^new
GBPJPY^new
GBPNZD^new
GBPUSD^new
NZDCAD^new
NZDCHF^new
NZDJPY^new
NZDUSD^new
USDCAD^new
USDCHF^new
USDJPY^new

Forex
AUDSGD^new
CHFSGD^new^free
EURSGD^new
GBPSGD^new
NZDSGD^new
SGDJPY^new
USDSGD^new
USDTRY^new

You are not logged in, you need subscription to view up-to-date forecasts, please Login if you have already subscribed, otherwise please Subscribe
You can still continue browsing delayed forecasts on the sidebar list.

Weekly forecast Gold technical chart

Symbol

XAUUSD

Download MT4 template file

Trade Setup
#XAUUSD Total Profit: 0 pip Closed trade(s): 0 pip Profit Open trade(s): 0 pip Profit Trade Setup: We opened 5 SELL trade(s) @ 1732.00 based on 'Shooting star' entry method at 2020.05.18. All 5 trades closed at entry price, therefore no profit no loss.

Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Sell Zone (1747.50 to 1765.05). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.

While the price is above the level 1700.00, the probability of beginning of downtrend is too weak, so we would enter the market with sell trades based on Daily-Trading-Opportunities and a day close price below 1700.00 and expect to reach short-term targets.

Beginning of entry zone (1747.50)
- Resistance on 04/14/2020
- Resistance on 05/15/2020
- Resistance on 05/18/2020
- Resistance on 05/19/2020
- Resistance on 05/20/2020
- Resistance on 05/21/2020
Ending of entry zone (1765.05)
- Resistance on 05/18/2020

Date May 23, 2020 - 13:25

Current range bound

Forecast beginning of downtrend

Midterm forecast:

While the price is below the resistance 1795.75, beginning of downtrend is expected.
We make sure when the support at 1660.25 breaks.
If the resistance at 1795.75 is broken, the short-term forecast -beginning of downtrend- will be invalid.

Technical analysis:

A peak is formed in daily chart at 1766.35 on 05/18/2020, so more losses to support(s) 1700.00 and minimum to Major Support (1660.25) is expected.
Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
Relative strength index (RSI) is 58.

Take Profits:

1660.25
- Support on 04/21/2020
1611.25
- Support on 04/06/2020
- Support on 03/30/2020
- Support on 03/27/2020
- Support on 03/26/2020
- Support on 03/25/2020
- Support on 02/20/2020
- Resistance on 01/08/2020
- Resistance on 03/25/2013
- Resistance on 03/18/2013
- Resistance on 02/20/2013
- Resistance on 08/14/2012
- Resistance on 08/06/2012
- Resistance on 08/02/2012
- Resistance on 07/25/2012
- Resistance on 07/06/2012
- Resistance on 06/12/2012
- Support on 04/04/2012
- Resistance on 12/23/2011
- Resistance on 12/19/2011
- Support on 10/21/2011
- Support on 10/20/2011
- Support on 10/05/2011
- Support on 10/04/2011
- Support on 09/30/2011
- Support on 09/27/2011
- Support on 09/26/2011
1549.15
- Support on 03/24/2020
- Resistance on 03/18/2020
- Resistance on 03/17/2020
- Support on 02/05/2020
- Support on 02/04/2020
- Support on 01/22/2020
- Support on 01/21/2020
- Support on 01/17/2020
- Support on 01/16/2020
- Support on 01/10/2020
- Support on 01/09/2020
- Support on 01/08/2020
- Resistance on 09/03/2019
- Resistance on 08/29/2019
- Resistance on 08/26/2019
- Support on 04/05/2013
- Support on 04/04/2013
- Support on 04/03/2013
- Support on 06/29/2012
- Support on 06/28/2012
- Support on 06/01/2012
- Support on 05/30/2012
- Support on 05/29/2012
- Support on 05/25/2012
- Support on 05/24/2012
- Support on 05/23/2012
- Support on 12/28/2011
- Support on 09/26/2011
1515.95
- Resistance on 03/20/2020
- Support on 03/13/2020
- Resistance on 12/30/2019
- Resistance on 12/27/2019
- Resistance on 11/04/2019
- Resistance on 11/01/2019
- Resistance on 10/31/2019
- Resistance on 10/25/2019
- Resistance on 10/10/2019
- Resistance on 10/04/2019
- Resistance on 10/03/2019
- Support on 09/24/2019
- Resistance on 09/12/2019
- Resistance on 09/09/2019
- Support on 09/05/2019
- Support on 08/30/2019