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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 (1621.36 to 1600.00). 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 (1621.36)
  • Ending of entry zone (1600.00)

DateSeptember 16, 2023 - 09:08
Currentrange bound
Forecastresumption of uptrend

Midterm forecast:

  • While the price is above the support 1884.63, resumption of uptrend is expected.
  • We make sure when the resistance at 1984.14 breaks.
  • If the support at 1884.63 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 1900.90 on 09/14/2023, so more gains to resistance(s) 1937.00, 1953.00 and maximum to Major Resistance (1984.14) 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 51.

Take Profits:

  1. 1658.96
  2. 1688.79
  3. 1710.22
  4. 1730.00
  5. 1765.00
  6. 1805.62
  7. 1849.51
  8. 1876.55
  9. 1914.23
  10. 1984.14
  11. 2067.21
Click on the level to view price action history.

Symbol Released Current Forecast
Gold (XAUUSD) Sat, 8 Jun 2024
Gold (XAUUSD) Sat, 1 Jun 2024
Gold (XAUUSD) Wed, 29 May 2024
Gold (XAUUSD) Sat, 25 May 2024
Gold (XAUUSD) Sat, 18 May 2024