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Weekly forecast Gold technical chart
Symbol XAUUSD

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Trading suggestion:

  • By appearing primary signs of entering the market, new entry zone and short-term targets would be published.

DateOctober 24, 2020 - 18:50
Currentrange bound
Forecastbeginning of downtrend

Midterm forecast:

  • While the price is below the resistance 2075.05, beginning of downtrend is expected.
  • We make sure when the support at 1790.00 breaks.
  • If the resistance at 2075.05 is broken, the short-term forecast -beginning of downtrend- will be invalid.

Technical analysis:

  • While the RSI resistance #1 at 57 is not broken, the probability of price increase would be too low.
  • A trough is formed in daily chart at 1882.10 on 10/14/2020, so more gains to resistance(s) 1909.00, 1920.00, 1975.00 and maximum to Major Resistance (2075.05) is expected.
  • Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
  • Relative strength index (RSI) is 48.

Supports and Resistances:

  1. 1851.00
  2. 1817.75
  3. 1747.50
  4. 1695.00
  5. 1557.00
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