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Weekly forecast Gold technical chart
Symbol XAUUSD
Trade Setup

#GOLD
Total Profit: 472 point
Closed trade(s): 0 point Profit
Open trade(s): 472 point Profit

Trade Setup:
We opened 8 BUY trade(s) @ 1756.65 based on 'Valley' entry method at 2021.09.30.

Open Profit:
Profit for one trade is 1757.24(current price) - 1756.65(open price) = 59 point
8 trade(s) still open, therefore total profit for open trade(s) is 59 x 8 = 472 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.

DateOctober 9, 2021 - 13:53
Currentrange bound
Forecastresumption of uptrend

Midterm forecast:

  • While the price is above the support 1677.00, resumption of uptrend is expected.
  • We make sure when the resistance at 1916.50 breaks.
  • If the support at 1677.00 is broken, the short-term forecast -resumption of uptrend- will be invalid.

Technical analysis:

  • While the RSI resistance #1 at 59 is not broken, the probability of price increase would be too low.
  • A trough is formed in daily chart at 1721.55 on 09/29/2021, so more gains to resistance(s) 1762.55, 1789.55, 1831.86 and maximum to Major Resistance (1916.50) 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 46.

Take Profits:

  1. 1789.55
  2. 1831.86
  3. 1874.88
  4. 1916.50
  5. 1959.30
  6. 2000.00
  7. 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