Weekly XAUUSD Technical Analysis and Forecast - Commodities

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Weekly forecast Gold technical chart

Symbol

XAUUSD

Download MT4 template file

Trade Setup
#XAUUSD Total Profit: -9080 pip Closed trade(s): 0 pip Profit Open trade(s): -9080 pip Profit Trade Setup: We opened 8 BUY trade(s) @ 1296.14 based on 'Valley' entry method at 2019.05.15. Open Profit: Profit for one trade is 1284.79(current price) - 1296.14(open price) = -1135 pip 8 trade(s) still open, therefore total profit for open trade(s) is -1135 x 8 = -9080 pip

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.

Date May 25, 2019 - 18:04

Current range bound

Forecast resumption of uptrend

Midterm forecast:

While the price is above the support 1266.00, resumption of uptrend is expected.
We make sure when the resistance at 1346.60 breaks.
If the support at 1266.00 is broken, the short-term forecast -resumption of uptrend- will be invalid.

Technical analysis:

The RSI bounced from the downtrend #1 and it prevented price from more gains.
A trough is formed in daily chart at 1269.40 on 05/21/2019, so more gains to resistance(s) 1294.60, 1303.25, 1310.55 and maximum to Major Resistance (1346.60) 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:

1303.25
- Resistance on 05/14/2019
- Support on 04/10/2019
- Resistance on 04/08/2019
- Support on 03/21/2019
- Support on 03/20/2019
- Resistance on 03/18/2019
- Resistance on 03/15/2019
- Resistance on 03/12/2019
- Support on 02/14/2019
- Support on 02/11/2019
- Support on 02/07/2019
- Resistance on 01/28/2019
- Resistance on 01/25/2019
- Resistance on 06/15/2018
- Resistance on 06/14/2018
- Resistance on 06/11/2018
- Resistance on 06/07/2018
- Resistance on 05/31/2018
- Resistance on 05/30/2018
- Resistance on 05/29/2018
- Support on 05/09/2018
- Support on 05/03/2018
- Support on 05/02/2018
- Support on 05/01/2018
- Support on 03/01/2018
- Resistance on 10/16/2017
- Support on 09/18/2017
- Support on 08/31/2017
- Resistance on 11/09/2016
- Resistance on 11/03/2016
- Resistance on 11/02/2016
- Support on 09/02/2016
- Support on 09/01/2016
- Support on 08/31/2016
- Support on 06/28/2016
- Resistance on 06/16/2016
- Resistance on 05/03/2016
- Resistance on 05/02/2016
- Resistance on 01/23/2015
- Resistance on 01/22/2015
- Resistance on 01/21/2015
- Resistance on 08/19/2014
- Resistance on 08/18/2014
- Support on 08/15/2014
- Support on 08/13/2014
- Support on 07/28/2014
- Support on 07/23/2014
- Support on 07/22/2014
- Support on 07/18/2014
- Support on 07/14/2014
- Resistance on 05/22/2014
- Resistance on 05/19/2014
- Resistance on 05/12/2014
- Resistance on 05/02/2014
- Resistance on 04/29/2014
- Resistance on 04/28/2014
- Resistance on 04/25/2014
- Resistance on 04/04/2014
- Support on 03/26/2014
- Support on 03/25/2014
- Resistance on 02/13/2014
- Support on 11/07/2013
- Support on 11/05/2013
- Support on 11/01/2013
- Support on 10/09/2013
- Support on 10/04/2013
- Support on 10/03/2013
- Support on 09/24/2013
- Support on 09/18/2013
- Support on 09/16/2013
- Support on 09/13/2013
- Resistance on 08/06/2013
- Support on 08/02/2013
- Support on 07/31/2013
1310.55
- Resistance on 04/10/2019
- Resistance on 03/28/2019
- Support on 03/25/2019
- Resistance on 03/19/2019
- Resistance on 03/14/2019
- Resistance on 03/13/2019
- Support on 02/15/2019
- Support on 02/05/2019
- Support on 02/04/2019
- Support on 01/30/2019
- Resistance on 06/14/2018
- Support on 05/10/2018
- Support on 05/09/2018
- Support on 05/08/2018
- Support on 05/07/2018
- Support on 05/04/2018
- Support on 04/30/2018
- Support on 03/21/2018
- Support on 03/20/2018
- Support on 03/19/2018
- Support on 03/16/2018
- Support on 03/01/2018
- Support on 02/09/2018
- Support on 02/08/2018
- Support on 02/07/2018
- Support on 01/10/2018
- Support on 01/09/2018
- Support on 01/04/2018
- Resistance on 08/30/2017
- Resistance on 08/29/2017
- Resistance on 08/28/2017
- Resistance on 11/09/2016
- Support on 10/03/2016
- Support on 09/21/2016
- Support on 09/20/2016
- Support on 09/15/2016
- Support on 09/02/2016
- Support on 08/30/2016
- Support on 07/25/2016
- Support on 07/21/2016
- Support on 07/20/2016
- Support on 06/30/2016
- Support on 06/28/2016
- Resistance on 06/16/2016
- Resistance on 08/12/2014
- Resistance on 08/11/2014
- Resistance on 08/06/2014
- Resistance on 07/29/2014
- Resistance on 07/28/2014
- Resistance on 07/23/2014
- Resistance on 07/15/2014
- Support on 07/07/2014
- Support on 07/03/2014
- Support on 06/30/2014
- Resistance on 05/14/2014
- Resistance on 05/07/2014
- Resistance on 05/06/2014
- Resistance on 05/05/2014
- Resistance on 04/08/2014
- Support on 02/20/2014
- Support on 02/19/2014
- Support on 02/18/2014
- Resistance on 11/08/2013
- Support on 11/06/2013
- Support on 11/05/2013
- Support on 11/04/2013
- Support on 11/01/2013
- Support on 10/22/2013
- Resistance on 10/10/2013
- Support on 10/07/2013
- Support on 10/03/2013
- Support on 09/24/2013
- Support on 09/23/2013
- Support on 09/16/2013
- Support on 09/13/2013
- Support on 07/31/2013
- Support on 07/26/2013
- Support on 07/25/2013
- Support on 07/24/2013
1323.70
- Resistance on 03/26/2019
- Resistance on 03/25/2019
- Peak on 03/25/2019
- Resistance on 02/28/2019
- Support on 02/26/2019
- Support on 02/19/2019
- Resistance on 02/15/2019
- Resistance on 02/01/2019
- Resistance on 01/31/2019
- Resistance on 01/30/2019
- Resistance on 05/11/2018
- Resistance on 05/10/2018
- Resistance on 04/30/2018
- Resistance on 04/27/2018
- Support on 04/24/2018
- Support on 04/23/2018
- Support on 04/06/2018
- Support on 04/05/2018
- Support on 04/02/2018
- Support on 03/29/2018
- Support on 03/28/2018
- Support on 03/14/2018
- Support on 03/07/2018
- Resistance on 03/02/2018
- Support on 02/21/2018
1346.60
- Resistance on 02/20/2019
- Resistance on 04/20/2018
- Resistance on 04/16/2018
- Resistance on 04/13/2018
- Resistance on 04/04/2018
- Resistance on 03/28/2018
- Resistance on 02/20/2018
- Support on 02/19/2018
- Support on 02/16/2018
1375.05
- Resistance on 07/11/2016
- Resistance on 07/06/2016
1390.00
- Resistance on 03/17/2014
1433.50
- Resistance on 08/28/2013
- Resistance on 05/15/2013
- Support on 05/10/2013
- Resistance on 04/24/2013
- Resistance on 04/23/2013
- Resistance on 04/22/2013

Click on the level to view price action history.

Symbol	Released	Current	Forecast
Gold (XAUUSD)	Sun, 14 Apr 2024
Gold (XAUUSD)	Sat, 6 Apr 2024
Gold (XAUUSD)	Sat, 30 Mar 2024
Gold (XAUUSD)	Sat, 23 Mar 2024
Gold (XAUUSD)	Sat, 16 Mar 2024

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