Gold dips to retest 1745

Gold dips to retest 1745

Key Support: 1745
Key Resistance: 1760 – 1790

Gold has rallied 4.80% since it bottomed at the 1678-1680 level last week. We are still long and very bullish precious metals and yesterday price broke with the massive key level (1745) that was the level it broke back in June 2020 to make all time highs (2080)

In the short term we are trading in a very structured bullish move and whilst the DXY is still trading below 92.50; we are bearish the USD below this level.

Technically speaking, today´s -0.85% move is just a pullback to retest the previous broken highs whilst printing a big bullish divergence.

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Gold (XAUUSD) Breaks the $1,750 Resistance, Resumes Uptrend

Gold (XAUUSD) Breaks the $1,750 Resistance, Resumes Uptrend

Key Resistance Levels: $1,900, $1,950, $2000
Key Support Levels: $1,750, $1, 700,$1,650

Gold (XAUUSD) Long-term Trend: Ranging
Gold is making positive moves as price breaks the resistance at $1,750. XAUUSD will be out of the range-bound zone if the bullish momentum is sustained. The upward move may face resistance at $1,800 and $1,840. In the previous price action, Gold was rejected at those previous highs.

XAUUSD – Daily Chart

Daily Chart Indicators Reading:
The gold price has broken the resistance of the horizontal channel. The uptrend will resume if price breaks the resistance level and closes above it. The 21-day SMA and 50-day SMA are sloping downward but are making a U-turn.


Gold (XAUUSD) Medium-term bias: Bullish
On the 4 hour chart, the XAUUSD has resumed an uptrend as price breaks the resistance at $1,750.On April 6 uptrend, a retraced candle body tested the 61.8% Fibonacci retracement. The retracement implies that Gold will rise to level 1.618 Fibonacci extension. That is the high of level $1,758.71.

XAUUSD – 4 Hour Chart

4-hour Chart Indicators Reading
XAUUSD is above the 80% range of the daily stochastic. The stochastic bands are sloping upward and approaching the overbought region of the market. Gold has a bullish crossover as the 21-day SMA crosses above the 50-day SMA. This bullish crossover indicates bullish signals.


General Outlook for Gold (XAUUSD)
XAUUSD price has broken the resistance at $1,750. The Gold price is expected to resume an uptrend as the market was earlier range bound between $1,720 and $1,750 since February. The present upward move will be short-lived as price reached the overbought region of the market.

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Is Gold Corrective Phase Over?

Is Gold Corrective Phase Over?

Gold rallied in the short term and now it stands at 1,729 level right below a critical resistance level. As you already know, the yellow metal was into a corrective phase after reaching the 2,075 all-time high in August 2020.

The price has found strong support and now it has turned to the upside. Technically, the price of gold has signaled a bullish reversal, but we still need confirmation before going long on the medium to the long term.

Gold reached the 61.8% retracement level and the uptrend line, so the rebound was natural and expected in the short term but the rate is still trapped within the descending pitchfork’s body.

It could move sideways in the upcoming period developing a narrow range on the Daily chart. The risk-on sentiment dominates the markets, USD could resume its appreciation, so the price of gold may decline again before deciding a new fresh direction.

Now, is crucial to identify the next buying entry or to be ready for a short opportunity if the price resumes its corrective phase.

If you want to get the buying signal just subscribe to the VIP channel HERE

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Olimpiu Tuns

Olimpiu Tuns graduated with a Master in Business Administration and is a seasoned Market Analyst / Trader / Trainer with 10 years of experience in the financial markets having expertise in Forex, Commodities, Index, Cryptocurrencies, and Stocks. His fascination with financial markets started back in 2010, and soon after he began to trade with his own capital. It didn’t take him long to become a senior market analyst, signal provider, portfolio manager, and trainer. He worked as a Market Analyst for three major brokerage companies, as a prop trader, and as a contributor/content creator for news portals and educational platforms.

Gold (XAUUSD) Is in a Range Bound Between Levels $1,680 and $1,750

Gold (XAUUSD) Is in a Range Bound Between Levels $1,680 and $1,750

Key Resistance Levels: $1,900, $1,950, $2000
Key Support Levels: $1,750, $1, 700,$1,650

Gold (XAUUSD) Long-term Trend: Ranging
Gold is in a range-bound move. Since March 5, XAUUSD is fluctuating between levels $1,675 and $1,750. For the past month, these levels have remained unbroken. Gold has been trading marginally. Today, the Gold price has been rising to retest the resistance level. Since January 8, Gold has been falling and the market has remained in the bearish trend zone.

XAUUSD – Daily Chart

Daily Chart Indicators Reading:
Gold price is facing resistance at 21-day SMA. The market has been facing resistance at the 21-day SMA. On the daily chart, the 21-day SMA has not been broken. Meanwhile, the moving averages are sloping downward. Gold is at level 47 of the Relative Strength Index period 14. It indicates that the market is capable of falling on the downside


Gold (XAUUSD) Medium-term bias: Ranging
On the 4 hour chart, the XAUUSD is fluctuating between $1,720 and $1,750. In most past of March, the crypto has been fluctuating below the $1,750 resistance. On March 26, the bulls were resisted by the 21-day SMA. XAUUSD price drops to the lower price range. Today, price is fluctuating.

XAUUSD – 4 Hour Chart

4-hour Chart Indicators Reading
XAUUSD is above the 80% range of the daily stochastic. This is a signal of a further downward movement of prices as the market reaches the overbought region of the market. Sellers are likely to emerge in the overbought region of the market. The 21-day and the 50-day SMAs are sloping in the middle of the price range.

General Outlook for Gold (XAUUSD)
XAUUSD is in a range-bound move. The market will trend if the range-bound level is broken. Gold price is presently approaching the upper price range to break above it. The upward move above the resistance is doubtful as price reaches the overbought region.


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Gold bounces from massive support

Gold bounces from massive support

Key Support: 1684
Key Resistance: 1725 – 1750

Gold dipped this week from the weekly pivot to retest the 1680 level again. As discussed earlier this week this level is a massive support on the daily/weekly and very likely where big money is going to be stepping in.

On the lower times frames (1H) we saw price reject this level whilst printing a big bullish divergence. For our entry we waited for the base`s highs to break and we are targeting the previous week´s lows / weekly pivot.

Gold is currently up 1.1%

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Gold (XAUUSD) Fluctuates Between $1,720 and $1,750, May Further Decline

Gold (XAUUSD) Fluctuates Between $1,720 and $1,750, May Further Decline

Key Resistance Levels: $1,900, $1,950, $2000
Key Support Levels: $1,750, $1, 700,$1,650

Gold (XAUUSD) Long-term Trend: Bearish
Gold is in a range-bound move. However, since March 17, the Gold price has been fluctuating below the $1,750 resistance. Meanwhile, on March 8 downtrend, XAUUSD fell to $1,676.86 low. A retraced candle body tested the 61.8% Fibonacci retracement level. The retracement indicates that Gold is expected to fall to level 1.618 Fibonacci extension. That is the low of $1,593.21.

XAUUSD – Daily Chart

Daily Chart Indicators Reading:
Gold is at level 41 of the Relative Strength Index period 14. It indicates that the market is in a downtrend zone. The price is below the SMAs which indicates that Gold is likely to fall. The 21-day and 50-day SMAs are sloping southward.

Gold (XAUUSD) Medium-term bias: Ranging
On the 4 hour chart, the XAUUSD is fluctuating between $1,720 and $1,750. Buyers and sellers are in price tussle since March 12. The bulls have failed to break the resistance as the price consolidates in the middle of the range. There is also strong buying pressure at the lower price range as price is restricted at the middle of the range.

XAUUSD – 4 Hour Chart

4-hour Chart Indicators Reading
XAUUSD is above the 20% range of the daily stochastic. The stochastic bands are sloping horizontally. . The 21-day and the 50-day SMAs are sloping in the middle of the price range.

General Outlook for Gold (XAUUSD)
XAUUSD is not trending but price is fluctuating between $1,720 and $1,750. The price has broken below the SMAs. There is a tendency for XAUUSD to decline on the downside.


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Gold´s upside capped by massive resistance

Gold´s upside capped by massive resistance

Key Resistance: 1740 – 1745
Key Support: 1720 – 1700

Gold has been trading in a pullback structure since the beginning of March with the highs being at the previous week´s highs around the 1755 level.
Now price has printed 2 new lower lows but still making higher highs. This means price is contracting inside of a wedge.

The upside is capped by the weekly pivot, the 50% retracement of the last leg down and the overall bearish structure. With the DXY (US Dollar Currency Index) rallying and testing the previous week´s highs for a possible breakout, the downside in Gold is where the highest probability setups lands.

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Gold continues with its bullish structure

Gold continues with its bullish structure

Key support: 1734
Key Resistance: 1742 – 1745 – 1752

Mid Term View
We continue to look for longs in Gold as the mid term structure keeps printing higher highs and higher lows. From the lows back in March 08 around 1675

1H Chart Analysis
After making a new higher high yesterday, price dipped back to retest the lows of the immediate bullish structure around the 61.8% pullback of the last leg up.

We are seeing some hidden bullish divergence printed on the low time frames and bullish pressure at these pullbacks.

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Gold (XAUUSD) Faces Rejection at Level $1,760, May Resume Downward

Gold (XAUUSD) Faces Rejection at Level $1,760, May Resume Downward

Key Resistance Levels: $1,900, $1,950, $2000
Key Support Levels: $1,750, $1, 700,$1,650

Gold (XAUUSD) Long-term Trend: Bearish
Gold is presently in a downward move. The current downward move was a rejection from $1,950. On March 8 downtrend; a retraced candle body tested the 50% Fibonacci retracement level. The retracement indicates that Gold is expected to fall to level 2.0 Fibonacci extension. That is the low of level $ 1539.83. The price action has confirmed this low but the downtrend will resume it breaks below $1,700.

XAUUSD – Daily Chart

Daily Chart Indicators Reading:
The price has fallen to level 41 of the Relative Strength Index period 14. It indicates that Gold is in the downtrend. The price has broken below SMAs which indicates that Gold is falling. The SMAs are sloping southward.

Gold (XAUUSD) Medium-term bias: Bearish
On the 4 hour chart, the XAUUSD is also in a downward move. On March 8, the XAUUSD fell to $1,680 support. Buyers push the price to retest level $1,760 high. The downtrend has resumed and if the bears break the previous support at $1,680, the selling pressure will resume.

XAUUSD – 4 Hour Chart

4-hour Chart Indicators Reading
XAUUSD is below the 80% range of the daily stochastic. The market has reached the overbought region. The price is in a bearish momentum. The SMAs are sloping downward indicating the downtrend.

General Outlook for Gold (XAUUSD)
XAUUSD is falling after rejection from level 1760. The price is at the point of breaking below the SMAs A successful breakdown will mean a further downward movement of prices.

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Gold dips to massive support

Gold dips to massive support

Key Support: 1727 – 1723
Key Resistance: 1743 – 1755

Mid Term View
Gold is bullish and has been for a while, even when we saw the big pullback from all time highs to 1675. After that bottom, Gold has been trading inside a very structure bullish move.

30M Chart Analysis
After today´s dip from yesterday´s highs Gold is retesting a big level of support and the bottom of the bullish structure giving us a great risk to reward setup to go long.

buyers are heavy here and with Gold failing to move lower on  a USD rally this setups has an even greater probability should buyers hold this level.

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