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Weekly forecast Gold technical chart
Symbol XAUUSD

Download MT4 template file

Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Buy Zone (1240.00 to 1231.15). 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 (1240.00)
    • Support on 10/07/2016
    • Resistance on 02/16/2017
    • Resistance on 02/17/2017
    • Resistance on 02/20/2017
    • Resistance on 02/21/2017
    • Resistance on 02/22/2017
    • Support on 03/01/2017
    • Support on 03/31/2017
    • Resistance on 05/04/2017
    • Resistance on 05/16/2017
    • Support on 06/20/2017
    • Support on 06/21/2017
    • Support on 06/26/2017
    • Support on 06/27/2017
    • Support on 06/29/2017
    • Support on 06/30/2017
    • Support on 12/11/2017
    • Support on 12/12/2017
    • Support on 12/13/2017
    • Support on 07/02/2018
    • Support on 07/03/2018
    • Support on 07/12/2018
    • Support on 07/13/2018
    • Support on 07/16/2018
    • Resistance on 10/23/2018
    • Resistance on 10/25/2018
    • Resistance on 10/26/2018
    • Resistance on 12/04/2018
    • Resistance on 12/05/2018
    • Resistance on 12/06/2018
    • Support on 12/11/2018
    • Support on 12/13/2018
  • Ending of entry zone (1231.15)
    • Resistance on 11/14/2016
    • Resistance on 11/15/2016
    • Resistance on 11/16/2016
    • Resistance on 11/17/2016
    • Support on 02/08/2017
    • Support on 02/16/2017
    • Support on 02/20/2017
    • Support on 02/21/2017
    • Support on 02/22/2017
    • Support on 03/02/2017
    • Support on 03/03/2017
    • Resistance on 03/16/2017
    • Resistance on 03/17/2017
    • Support on 03/21/2017
    • Resistance on 05/12/2017
    • Resistance on 05/15/2017
    • Resistance on 07/14/2017
    • Resistance on 07/23/2018
    • Resistance on 10/15/2018
    • Resistance on 10/16/2018
    • Resistance on 10/18/2018
    • Resistance on 10/19/2018
    • Resistance on 10/23/2018
    • Resistance on 10/30/2018
    • Resistance on 11/06/2018
    • Resistance on 11/07/2018
    • Resistance on 11/21/2018
    • Resistance on 12/03/2018

DateMarch 23, 2019 - 13:18
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • There is no trend in the market and the price is in a range bound, but we forecast a downtrend wave below 1316.45 would begin in Midterm.

Technical analysis:

  • While the RSI resistance #1 at 56 is not broken, the probability of price increase would be too low.
  • A peak is formed in daily chart at 1311.17 on 03/13/2019, so more losses to support(s) 1302.25, 1287.00, 1275.65 and minimum to Trend Hunter Buy Zone (1240.00 to 1231.15) 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 55.

Take Profits:

  1. 1250.95
  2. 1262.50
  3. 1275.65
  4. 1287.00
  5. 1302.25
  6. 1324.15
  7. 1341.55
  8. 1366.05
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