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Trend Hunter performance since 2015 for this symbol

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Weekly forecast Gold technical chart
Symbol XAUUSD

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Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Buy Zone (1281.90 to 1274.95). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.

We would set buy orders based on Daily-Trading-Opportunities and expect to reach short-term targets.

  • Beginning of entry zone (1281.90)
    • Support on 08/25/2017
    • Support on 09/27/2017
    • Support on 09/28/2017
    • Resistance on 10/04/2017
    • Support on 10/17/2017
    • Resistance on 10/26/2017
    • Resistance on 11/01/2017
    • Resistance on 11/02/2017
    • Resistance on 11/06/2017
    • Resistance on 11/07/2017
    • Resistance on 11/08/2017
    • Resistance on 11/14/2017
    • Resistance on 11/15/2017
    • Resistance on 11/16/2017
    • Resistance on 11/21/2017
    • Support on 11/29/2017
    • Support on 05/21/2018
    • Resistance on 12/28/2018
    • Resistance on 12/31/2018
    • Support on 01/04/2019
    • Support on 01/07/2019
    • Support on 01/08/2019
    • Support on 01/09/2019
    • Support on 01/23/2019
    • Support on 03/04/2019
    • Support on 03/05/2019
    • Support on 03/07/2019
    • Support on 04/04/2019
    • Support on 04/15/2019
    • Resistance on 04/25/2019
    • Resistance on 05/03/2019
    • Resistance on 05/06/2019
    • Support on 05/13/2019
    • Support on 05/24/2019
  • Ending of entry zone (1274.95)
    • Support on 08/25/2017
    • Support on 09/29/2017
    • Resistance on 10/05/2017
    • Support on 10/09/2017
    • Support on 10/23/2017
    • Support on 10/24/2017
    • Support on 10/25/2017
    • Resistance on 10/27/2017
    • Resistance on 11/01/2017
    • Support on 11/07/2017
    • Support on 11/08/2017
    • Support on 11/10/2017
    • Support on 11/14/2017
    • Support on 11/16/2017
    • Support on 11/20/2017
    • Support on 11/21/2017
    • Resistance on 12/22/2017
    • Support on 06/15/2018
    • Resistance on 06/20/2018
    • Resistance on 12/26/2018
    • Support on 04/16/2019
    • Support on 04/25/2019
    • Support on 04/26/2019
    • Support on 05/01/2019
    • Support on 05/17/2019
    • Support on 05/20/2019
    • Support on 05/28/2019
    • Support on 05/30/2019

DateSat, 11/02/2019 - 16:57
Currentrange bound
Forecastresumption of uptrend
Last weekBullish

Midterm forecast:

  • While the price is above the support 1433.50, resumption of uptrend is expected.
  • We make sure when the resistance at 1555.25 breaks.
  • If the support at 1433.50 is broken, the short-term forecast -resumption of uptrend- will be invalid.

Technical analysis:

  • The ascending flag taking shape suggests we will soon see another leg higher.
  • There is a divergence in RSI and price between the peak at 1439.15 on 2019-06-25 and the peak at 1555.25 on 2019-08-26, the probability of uptrend continuation is decreased and the probability of beginning the correction wave is increased.
  • The RSI uptrend #1 is broken, so the probability of resumption of uptrend is decreased.
  • A trough is formed in daily chart at 1481.30 on 10/30/2019, so more gains to resistance(s) 1535.70 and maximum to Major Resistance (1555.25) 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:

  1. 1303.25
  2. 1310.55
  3. 1323.70
  4. 1346.60
  5. 1375.05
  6. 1390.00
  7. 1433.50
Click on the level to view price action history.

Symbol Released Current Forecast
Gold (XAUUSD) Sat, 16 Nov 2019
Gold (XAUUSD) free Sat, 9 Nov 2019
Gold (XAUUSD) Sat, 2 Nov 2019
Gold (XAUUSD) Sat, 26 Oct 2019
Gold (XAUUSD) Sat, 19 Oct 2019