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Weekly forecast Gold technical chart
Symbol XAUUSD

Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Buy Zone (1706.65 to 1676.76). 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 (1706.65)
  • Ending of entry zone (1676.76)

DateSeptember 26, 2021 - 13:29
Currentrange bound
Forecastresumption of uptrend

Midterm forecast:

  • While the price is above the support 1676.76, resumption of uptrend is expected.
  • We make sure when the resistance at 1916.50 breaks.
  • If the support at 1676.76 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 peak is formed in daily chart at 1787.20 on 09/22/2021, so more losses to support(s) 1744.50, 1706.65 and minimum to Major Support (1676.76) 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 39.

Take Profits:

  1. 1762.55
  2. 1789.55
  3. 1831.86
  4. 1874.88
  5. 1916.50
  6. 2075.05
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