Category: XAUUSD

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

Gold (XAUUSD) Long-term Trend: Ranging
The Gold (XAUUSD) is trading at $1,783.14 in the middle of price range. XAUUSD is in a range-bound move between $1,720 and $1,835. Buyers and sellers are yet to break the range-bound levels. Presently, the price action is characterized by small body candlesticks. These candlesticks are responsible for the current range-bound move. The price movement has been stagnant in the price range. Gold will resume an upward move if the resistance at $1.835 is breached.

Daily Chart Indicators Reading:
The 21-day SMA and the 50-day SMA are sloping horizontally indicating the sideways trend. Gold is at level 54 of the Relative Strength Index period 14. Gold is in the uptrend zone and above the centerline 50. Gold will rise if the price bars are above the moving averages.


Gold (XAUUSD) Medium-term bias: Bullish
On the 4 hour chart, the Gold is in an uptrend. The price has broken above the moving average to reach the high of $1,800 but pulled back. Meanwhile, on October 20 uptrend; a retraced candle body tested the 61.8% Fibonacci retracement level. The retracement indicates that Gold will rise to level 1.618 Fibonacci extension or $1,801.20.

4-hour Chart Indicators Reading
Gold is below the 80% range of the daily stochastic. The stochastic bands are sloping upward indicating a bullish momentum. The 21-day SMA and the 50-day SMA are sloping upward indicating the uptrend.

General Outlook for Gold (XAUUSD)
Gold’s (XAUUSD) lacks buyers at higher price levels. The upward moves have been restricted below the $1,800 resistance zones. Presently, the Fibonacci tool has indicated that Gold will rise to level 1.618 Fibonacci extension or $1,801.20.

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

Gold (XAUUSD) Long-term Trend: Ranging
Following the last bearish impulse on June 18, Gold (XAUUSD) has continued its sideways movement in a confined range. The gold price has been fluctuating between levels $1,720 and $1,820. Today, the market is rising as price breaks above the 21-day SMA. Since September 7, the bulls are yet to break above the 50-day SMA. A break above the moving averages will accelerate the upward moves. For instance, the Gold price will rise and break the initial resistance at $1,820. The bullish momentum will extend to retest the overhead resistance at $1,900.

Daily Chart Indicators Reading:
The 21-day SMA and the 50-day SMA are sloping horizontally indicating the sideways trend. Gold is at level 45 of the Relative Strength Index period 14. It indicates that the market is in the bearish trend zone and below the centerline 50. Gold is capable of falling on the downside.

Gold (XAUUSD) Medium-term bias: Ranging
On the 4 hour chart, the Gold price has risen but dropped sharply after testing the Fibonacci level. That is, on September 30 uptrend; a retraced candle body tested the 61.8% Fibonacci retracement level. The retracement indicates that Gold will rise to level 1.618 Fibonacci extension or $1,790.63. From the price action, the market rose to $1,780 high and dropped sharply to $1,757 low.

4-hour Chart Indicators Reading
Gold is below the 40% range of the daily stochastic. Gold is in a bearish momentum. The 21-day SMA and the 50-day SMA are sloping horizontally indicating the sideways trend.

General Outlook for Gold (XAUUSD)
Gold’s (XAUUSD) price rebounded above the $1,755 and rallied to $1,780 resistance zone. Gold was repelled immediately indicating that XAUUSD lacks buyers at a higher price level. The current range-bound move may continue for a few more days.


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

Gold (XAUUSD) Long-term Trend: Bearish
Since September 15, the bears broke below the moving averages as Gold continued its downward move. Today, Gold has fallen to the low of $1,737.84. Nevertheless, on September 22, buyers pushed Gold to the high of $1,780 but were repelled. The market will further decline because of the retracement in a bearish trend. Meanwhile, on September 16 downtrend; a retraced candle body tested the 61.8% Fibonacci retracement level. The retracement indicates that Gold will fall to level 1.618 Fibonacci extension or level $1,707.34.

Daily Chart Indicators Reading:
Gold (XAUUSD) has fallen to level 36 of the Relative Strength Index period 14. It indicates that the market is in the downtrend zone and below the centerline 50. Gold is also approaching the oversold region. The 21-day and the 50-day SMAs are sloping downward indicating the trend.

Gold (XAUUSD) Medium-term bias: Bearish
On the 4 hour chart, Gold is in a downward move. However, the bears are having penetration difficulty at the low of $1,745.35. The bears have retested level $1,745 several times to break it. If the current low is breached, the market will decline to level $1,700. Precisely, at level 1.618 Fibonacci extension or level $1,707.34.

4-hour Chart Indicators Reading
Gold price is below the 20% range of the daily stochastic. That is, the market has reached the oversold region. Buyers are expected to emerge. The 21-day SMA and the 50-day SMA are sloping downward indicating the downtrend.

General Outlook for Gold (XAUUSD)
The gold price has fallen to the previous low at $1,745.34. Since September 16, the bears have not been able to break below it. According to the Fibonacci tool, the market will decline to level 1.618 Fibonacci extension or level $1,707.34.


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

Gold (XAUUSD) Long-term Trend: Ranging
XAUUSD has been in a downward move since June 2, 2021. The downtrend has subsided as it reaches the low of $1,677. On August 6, a candlestick tail was pointing to the $1,660 support. The long tail indicates that there is strong buying pressure at the current support. Meanwhile, on June 28 downtrend; a retraced candle body tested the 61.8% Fibonacci retracement level. The retracement indicates that Gold will fall to level 1.618 Fibonacci extension or level $1,647.

Daily Chart Indicators Reading:
Gold has fallen to level 36 of the Relative Strength Index period 14. It indicates that the market is approaching the oversold region. It is also in the bearish trend zone and below the centerline 50.


Gold (XAUUSD) Medium-term bias: Bearish
On the 4 hour chart, the market fell to the $1,750 low. At that low, Gold is said to be in the oversold region. The selling pressure is presumed to subside. Meanwhile, on September 8 uptrend; a retraced candle body tested the 61.8% Fibonacci retracement level. The retracement indicates that Gold will fall to level 1.618 Fibonacci extension or level $1,750.05.

4-hour Chart Indicators Reading
XAUUSD is below the 20% range of the daily stochastic. It indicates that the market has reached the oversold region. Gold price is expected to rise. The 21-day SMA and the 50-day SMA are sloping downward indicating the downtrend.

General Outlook for Gold (XAUUSD)
XAUUSD’s price has fallen to the oversold region of the market. The selling pressure of Gold is presumed to be over. Gold is expected to rise on the upside.

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

Gold (XAUUSD) Long-term Trend: Ranging
The gold price has been in a range-bound move since March. Since its fall to level $1,680 low, the market has been fluctuating between levels $1,680 and $1,900. XAUUSD is an upward move from the low of 1,680. The upward move is facing resistance at level $1,832. The market will rise to revisit the previous resistance at level $1,900.

Daily Chart Indicators Reading:
Gold has risen to level 62 of the Relative Strength Index period 14. It indicates that the market has reached the bullish trend zone and above the centerline 50. The 21-day SMA and 50-day SMA are sloping horizontally indicating the sideways trend.

Gold (XAUUSD) Medium-term bias: Bullish
On the 4 hour chart, the market is an uptrend. Gold price is making a series of higher highs and higher lows. Each higher high is greater than the previous one. Meanwhile, on August 30 uptrend; a retraced candle body tested the 78.6% Fibonacci retracement level. The retracement indicates that Gold will rise to level 1.272 Fibonacci extension or level $1,834.07.

4-hour Chart Indicators Reading
XAUUSD is above the 60% range of the daily stochastic. It indicates that the market is in bullish momentum. Gold price is expected to rise. The 21-day SMA and the 50-day SMA are sloping upward indicating the uptrend.

General Outlook for Gold (XAUUSD)
XAUUSD’s price is an uptrend. The uptrend is likely to reach the high of $1,840. However, XAUUSD may face resistance as the market will be reaching the overbought region.

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

Gold (XAUUSD) Long-term Trend: Bearish
Gold price is in an upward move. The upward move is facing an initial obstacle at the $1,800 resistance zone. On the upside, if price breaks above the resistance zone, the Gold price will be above the moving averages. In other words, the bullish trend zone is where prices tend to rise. However, the market is being rejected below the moving averages which suggests a possible decline. The bulls are likely to face stiff opposition above the recent high.

Daily Chart Indicators Reading:
The market has fallen to level 49 of the Relative Strength Index period 14. It indicates that there is a balance between supply and demand. The 21-day SMA and 50-day SMA are sloping downward indicating the downtrend.

Gold (XAUUSD) Medium-term bias: Bearish
On the 4 hour chart, the Gold price is correcting upward. The bulls could not break above the $1,800 overhead resistance. Therefore, the Gold price is consolidating below the overhead resistance. Meanwhile, on August 17 uptrend; a retraced candle body tested the 78.6% Fibonacci retracement level. The retracement indicates that Gold will rise but reverse at level 1.272 Fibonacci extension or level $1,816,63.

4-hour Chart Indicators Reading
Gold is above the 50% range of the daily stochastic. It indicates that the market is in the bullish trend zone. The 21-day SMA and the 50-day SMA are sloping upward indicating the uptrend.

General Outlook for Gold (XAUUSD)
XAUUSD price is in an upward move. The uptrend is stalled below the $1 800 overhead resistance. Gold price is facing rejection at the 21-day SMA. XAUUSD is likely to be in a downward correction for a few more days.

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

Gold (XAUUSD) Long-term Trend: Bearish
Gold price is in a downward move. On August 9, the XAUUSD fell to $1,677 low and corrected upward. Today, the market has risen to a level $1,756 and a further upward correction. Meanwhile, on June 17 downtrend; a retraced candle body tested the 61.8% Fibonacci retracement level. The retracement indicates that Gold will fall to level 1.618 Fibonacci extension or level $1,652.86. From the price action, the market is correcting upward to $1,755.

Daily Chart Indicators Reading:
The market has fallen to level 37 of the Relative Strength Index period 14. It indicates that Gold is in the downtrend zone and capable of falling on the downside. The 21-day SMA and 50-day SMA are sloping downward indicating the downtrend.

Gold (XAUUSD) Medium-term bias: Bearish
On the 4 hour chart, the Gold price has fallen and it is in a downward correction. Gold price is fluctuating between $1,720 and $1,780. XAUUSD is trading in the overbought region of the market. There is the likelihood of further downward movement of the Gold.

4-hour Chart Indicators Reading
Gold is above the 80% range of the daily stochastic. It indicates that the market has reached the overbought region of the market. The 21-day SMA and the 50-day SMA are sloping downward indicating the downtrend.

General Outlook for Gold (XAUUSD)
XAUUSD price is in a downward move. Today, the price is correcting upward for a possible rejection at the recent high. According to the Fibonacci tool, Gold will further decline to the low of level $1,652.86.


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