Weekly XAUUSD Technical Analysis and Forecast - Commodities

Languages

website utilities

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

Sidebar List Commodities

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

Forex
AUDCAD^new^free
AUDCHF^new^free
AUDJPY^new
AUDNZD^new
AUDUSD^new
CADCHF^new
CADJPY^new
CHFJPY^new
EURAUD^new
EURCAD^new
EURCHF^new^free
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^free
USDJPY^new

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

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: 11220 point Closed trade(s): 0 point Profit Open trade(s): 11220 point Profit Trade Setup: We opened 6 BUY trade(s) @ 1836.93 based on 'Hammer' entry method at 2021.01.18. Open Profit: Profit for one trade is 1855.63(current price) - 1836.93(open price) = 1870 point 6 trade(s) still open, therefore total profit for open trade(s) is 1870 x 6 = 11220 point

Trading suggestion:

We have already opened Buy trades, based on Trend Hunter Strategy, trade setup is drawn on the chart and shows entry and targets.

Date January 23, 2021 - 12:53

Current range bound

Forecast resumption of uptrend

Midterm forecast:

While the price is above the support 1762.05, resumption of uptrend is expected.
We make sure when the resistance at 1902.60 breaks.
If the support at 1762.05 is broken, the short-term forecast -resumption of uptrend- will be invalid.

Technical analysis:

While the RSI downtrend #1 is not broken, bearish wave in price would continue.
A trough is formed in daily chart at 1802.00 on 01/18/2021, so more gains to resistance(s) 1875.15 and maximum to Major Resistance (1902.60) 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.

Take Profits:

1875.15
- Resistance on 01/21/2021
- Resistance on 01/20/2021
- Support on 12/30/2020
- Resistance on 12/23/2020
- Resistance on 12/08/2020
- Resistance on 11/23/2020
- Resistance on 11/20/2020
- Support on 11/17/2020
- Support on 11/16/2020
- Support on 11/13/2020
- Support on 11/02/2020
- Support on 10/28/2020
- Support on 10/07/2020
- Support on 10/06/2020
- Support on 09/29/2020
- Support on 08/12/2020
1902.60
- Support on 01/06/2021
- Support on 01/04/2021
- Resistance on 12/31/2020
- Resistance on 12/28/2020
- Resistance on 12/21/2020
- Support on 11/05/2020
- Support on 10/22/2020
- Resistance on 10/14/2020
- Resistance on 10/08/2020
- Resistance on 09/30/2020
- Resistance on 09/23/2020
- Support on 09/21/2020
- Support on 08/26/2020
- Support on 08/12/2020
- Support on 08/11/2020
- Support on 07/28/2020
- Resistance on 07/24/2020
1931.40
- Resistance on 10/21/2020
- Resistance on 10/12/2020
- Resistance on 10/09/2020
- Support on 09/17/2020
- Support on 09/09/2020
- Support on 09/02/2020
- Support on 08/21/2020
- Support on 08/17/2020
- Support on 08/14/2020
- Support on 07/28/2020
1965.50
- Resistance on 11/09/2020
- Resistance on 09/16/2020
- Resistance on 09/15/2020
- Resistance on 09/14/2020
- Resistance on 09/10/2020
- Resistance on 08/28/2020
- Resistance on 08/27/2020
- Resistance on 08/24/2020
- Resistance on 08/14/2020
- Resistance on 08/13/2020
- Support on 08/04/2020
- Resistance on 07/28/2020
2075.05
- Resistance on 08/07/2020