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Weekly forecast Gold technical chart
Symbol XAUUSD

Download MT4 template file

Trade Setup
#XAUUSD:
Total Loss: 71595 point
Closed trade(s): 71595 point Loss

Trade Setup:
We opened 5 SELL trade(s) @ 1698.30 based on 'Peak' entry method at 2020.06.03.

Total Loss:
SL @ 1841.49 touched at 2020.07.21 with 14319 point Loss.
Loss for one trade is 1841.49(close price) - 1698.30(open price) = 14319 point
Therefore total loss for trades is 14319 x 5 = 71595 point

Trading suggestion:

Price is above the Trend Hunter Sell Zone (1747.50 to 1765.05).

We would set sell orders based on Daily-Trading-Opportunities 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
    • Resistance on 06/02/2020
    • Resistance on 06/11/2020
    • Resistance on 06/19/2020
    • Support on 06/23/2020
    • Support on 06/26/2020
  • Ending of entry zone (1765.05)
    • Resistance on 05/18/2020
    • Resistance on 06/22/2020
    • Resistance on 06/25/2020
    • Support on 06/30/2020
    • Support on 07/01/2020
    • Support on 07/02/2020

DateJuly 25, 2020 - 12:58
Currentuptrend
Forecastcontinuation of uptrend

Midterm forecast:

  • 1818.00 is a major support, while this level is not broken, the Midterm wave will be uptrend.

Technical analysis:

  • While the RSI uptrend #1 is not broken, bullish wave in price would continue.
  • A peak is formed in daily chart at 1818.00 on 07/07/2020, so more losses minimum to Major Support (1818.00) 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 83.

Take Profits:

  1. 1660.25
  2. 1611.25
  3. 1549.15
  4. 1515.95
Click on the level to view price action history.

Symbol Released Current Forecast
Gold (XAUUSD) Sat, 23 Mar 2024
Gold (XAUUSD) Sat, 16 Mar 2024
Gold (XAUUSD) Sat, 9 Mar 2024
Gold (XAUUSD) Sat, 2 Mar 2024
Gold (XAUUSD) Sat, 24 Feb 2024