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Weekly forecast Gold technical chart

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DateMon, 04/09/2018 - 17:24
Currentrange bound
Forecastbeginning of downtrend
Last weekBullish

Midterm forecast:

  • While the price is below the resistance 1375.05, beginning of downtrend is expected.
  • We make sure when the support at 1294.60 breaks.
  • If the resistance at 1375.05 is broken, the short-term forecast -beginning of downtrend- will be invalid.
  • We will close our open trades, if the Midterm level 1294.60 is broken.

Technical analysis:

  • Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
  • Relative strength index (RSI) is 52.

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, the description can also be found below the image.
  • If the Midterm level 1294.60 is broken, we will close these trades.

Take Profits:

  1. 1324.15
  2. 1308.85
  3. 1294.60
  4. 1262.50
  5. 1240.70
  6. 1204.80
  7. 1131.60
  8. 1046.15
Click on the level to view price action history.

Symbol Released Current Forecast
Gold (XAUUSD) free Sat, 14 Jul 2018
Gold (XAUUSD) free Mon, 9 Jul 2018
Gold (XAUUSD) Sun, 1 Jul 2018
Gold (XAUUSD) free Mon, 25 Jun 2018
Gold (XAUUSD) free Sat, 16 Jun 2018