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Weekly forecast Gold technical chart
Symbol XAUUSD

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Trade Setup
#XAUUSD
Total Profit: 1134 pip
Closed trade(s): 0 pip Profit
Open trade(s): 1134 pip Profit

Trade Setup:
We opened 7 SELL trade(s) @ 1292.19 based on 'Peak' entry method at 2019.04.11.

Open Profit:
Profit for one trade is 1292.19(open price) - 1290.57(current price) = 162 pip
7 trade(s) still open, therefore total profit for open trade(s) is 162 x 7 = 1134 pip

Trading suggestion:

  • We have already opened Sell trades, based on Trend Hunter Strategy, trade setup is drawn on the chart and shows entry and targets.

DateSat, 04/13/2019 - 21:56
Currentrange bound
Forecastbeginning of downtrend
Last weekBearish

Midterm forecast:

  • There is no trend in the market and the price is in a range bound, but we forecast an uptrend wave above 1284.35 would begin in Midterm.

Technical analysis:

  • The RSI bounced from the downtrend #1 and it prevented price from more gains.
  • A peak is formed in daily chart at 1310.50 on 04/10/2019, so more losses minimum to Major Support (1284.35) 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 44.

Take Profits:

  1. 1284.35
  2. 1274.95
  3. 1262.50
  4. 1250.95
  5. 1232.85
  6. 1183.15
Click on the level to view price action history.

Symbol Released Current Forecast
Gold (XAUUSD) free Sat, 13 Apr 2019
Gold (XAUUSD) Sat, 6 Apr 2019
Gold (XAUUSD) Sat, 30 Mar 2019
Gold (XAUUSD) Sat, 23 Mar 2019
Gold (XAUUSD) Sat, 16 Mar 2019