Category: XAUUSD

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

Gold (XAUUSD) Long-term Trend: Bullish
On June 29, XAUUSD fell to the low of $1,755 as bulls bought the dips. XAUUSD rebounded above the current support as buyers pushed the Gold price to the high of $1,834. Gold was rejected at the recent high on July 15. Today, buyers are retesting the same resistance level to break it. On the upside, if the resistance at level $1,834 is breached, the market will rally to $1,880 high. Meanwhile, on July 15 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 level $1,886.69.

Daily Chart Indicators Reading:
Gold has risen to level 60 of the Relative Strength Index period 14. It indicates that Gold is in the uptrend zone and above the centerline 50. The 21-day SMA and 50-day SMA are sloping upward indicating the uptrend. A break above the 50-day SMA will propel Gold to rise.

Gold (XAUUSD) Medium-term bias: Bullish
On the 4 hour chart, the Gold price has fallen to a low of $1,794.The gold price was fluctuating between levels $1,794 and $1,807 before the eventual breakout. Meanwhile, on July 26 uptrend; a retraced candle body tested the 38.2% Fibonacci retracement level. The retracement indicates that Gold will rise to level 2.618 Fibonacci extension or level $1,846.13.

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 upward indicating the uptrend.

General Outlook for Gold (XAUUSD)
XAUUSD has resumed upward move as bulls bought the dips. Gold’s price rebounded above the previous low of $1,794 to reach the high of $1,830. According to the Fibonacci tool, the market will rise to level $1,846.13.


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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: Bullish
XAUUSD upward move is facing rejection at the $1,834.19 high. On June 18, the XAUUSD fell to the $1,764 support. Gold price retested the support before the upward move. Gold is facing rejection because the market has reached the overbought region. The price broke the 21-day SMA but faced rejection at the 50-day SMA.

Daily Chart Indicators Reading:
Gold has risen to level 57 of the Relative Strength Index period 14. It indicates that Gold is in the uptrend zone and above the centerline 50. The 21-day SMA and 50-day SMA are sloping downward indicating the downtrend. A break above the 50-day SMA will propel Gold to rise.

Gold (XAUUSD) Medium-term bias: Bullish
On the 4 hour chart, the Gold price rose to $1,833 high but reached the overbought region. Meanwhile, on July 13 uptrend, a retraced candle body tested the 50% Fibonacci retracement level. The retracement indicates that Gold will rise to level 2.0 Fibonacci extension. The market is declining as price reaches the overbought region.

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. Sellers have emerged to push price downThe 21-day SMA and the 50-day SMA are sloping upward indicating the uptrend.

General Outlook for Gold (XAUUSD)
XAUUSD’s price is retracing as price reaches the overbought region. The market retraced to $1,823 low and resumed fluctuation below the recent high. Gold price is facing a second rejection. If price falls and breaks below the SMAs, the selling pressure will accelerate to the previous low. Otherwise, the current fluctuation will continue below the resistance.

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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: Bullish
XAUUSD has resumed an upward move after falling to the low of level $1,760 on June 18. On June 29, the bears retested the support as Gold resumed upward. The implication is that the uptrend has resumed as price fails to break the current support the second time. From the Fibonacci tool, Gold has reached bearish exhaustion at the 2.618 Fibonacci extensions as price resumes upward.

Daily Chart Indicators Reading:
Gold has risen to level 48 of the Relative Strength Index period 14. It indicates that Gold is in the downtrend zone and below the centerline 50. The 21-day SMA and 50-day SMA are sloping downward indicating the downtrend. The Gold price has broken above the 21-day SMA. A break above the 50-day SMA will propel Gold to rise.

Gold (XAUUSD) Medium-term bias: Bullish
On the 4 hour chart, the Gold price has resumed its upward move. Meanwhile, on July 6 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 and reverse. From the price action, the Gold price is rising to reach the Fibonacci level.

4-hour Chart Indicators Reading
Gold is above the 40% range of the daily stochastic. It indicates that the market has reached bullish momentum. The 21-day SMA and the 50-day SMA are sloping upward indicating the uptrend.

General Outlook for Gold (XAUUSD)
XAUUSD’s price has recovered above $1,760 support. Gold price is rising as the 21-day SMA crosses above the 50-day SMA. According to the Fibonacci tool, Gold will rise to level 1.272 Fibonacci extension and reverse. That is at level $1,830.71


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Last Updated: July 9th, 2021

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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 is range-bound above level $1,760 support. The Gold downward move has been terminated above level $1,760. Since June 18, the price has been fluctuating above the current support. XAUUSD has ended its bearish trend above level $1,760. The market will rise if the current support holds.

Daily Chart Indicators Reading:
Gold has fallen to level 37 of the Relative Strength Index period 14. It indicates that Gold is near the oversold region of the market. . The 21-day SMA and 50-day SMA are sloping downward indicating the downtrend. Gold is presently in a bearish trend zone as price is below the SMS.

Gold (XAUUSD) Medium-term bias: Ranging
On the 4 hour chart, the Gold price is in a range-bound move. The price has been in a range-bound between level $1,760 and $1,793. For the past week, Gold is yet to trend as it is confined in a range. Presently, the Gold is still in a range-bound move within the confined range.

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

General Outlook for Gold (XAUUSD)
XAUUSD’s price has been consolidating above $1,760. The Gold price has been stable as the price action is characterized by small body indecisive candlesticks called Doji and Spinning tops. These candlesticks indicate that buyers and sellers are undecided about the direction of the market.


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Last Updated: July 2nd, 2021

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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
XAUUSD is in a downward correction. Gold fell to the low above $1,760 and resumed a range-bound move above the current support. For the past week, the Gold price has been consolidating above the current support. On June 3 downtrend, a retraced candle body tested the the38.2% Fibonacci retracement level. The retracement indicates that Gold will fall to level 2.618 Fibonacci extension or level $1,757.27. From the price action, the market is still consolidating above level 2.618 Fibonacci extension or level $1,757.27.

Daily Chart Indicators Reading:
Gold has fallen to level 34 of the Relative Strength Index period 14. It indicates that Gold is near the oversold region of the market. It implies that the selling pressure has been exhausted and buyers are likely to emerge. The 21-day SMA and 50-day SMA are sloping downward indicating the downtrend.

Gold (XAUUSD) Medium-term bias: Ranging
On the 4 hour chart, the XAUUSD price is in a range-bound move. The price has been in a range-bound between level $1,766 and $1,793. For the past week, Gold is yet to trend as it is confined in a range. Presently, the Gold is still in a range-bound move within the confined range.

4-hour Chart Indicators Reading
Gold is below the 20% range of the daily stochastic. It indicates that it has fallen to an oversold region of the market. The selling pressure is exhausted as buyers emerge. The 21-day SMA and the 50-day SMA are sloping downward indicating the downtrend.

General Outlook for Gold (XAUUSD)
XAUUSD’s price has remained range-bound after falling to the low above $1,760. Gold price is fluctuating below and above 21-day SMA. For the past week, the Gold price has remained stable above the current support.

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Last Updated: June 25th, 2021

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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
XAUUSD is in a downtrend. Since May 31, the upward move is facing resistance at $1900. In the first resistance the market decline to $1,860. On June 11, Gold faces another resistance which made it drop sharply. On June 1 downtrend, a retraced candle body tested the the38.2% Fibonacci retracement level. The retracement indicates that Gold will fall to level 2.618 Fibonacci extension or level $1,760.02.

Daily Chart Indicators Reading:
XAUUSD has fallen to level 29 of the Relative Strength Index period 14. It indicates that Gold has fallen to the oversold region of the market. It implies that the selling pressure has been exhausted and buyers are likely to emerge. The 21-day SMA and 50-day SMA are sloping upward indicating the uptrend.

Gold (XAUUSD) Medium-term bias: Bearish
On the 4 hour chart, the XAUUSD price is in a downward move. Since May 25, buyers have been struggling to break above the $1,900 resistance. On June 4 downtrend, a retraced candle body tested the the38.2% Fibonacci retracement level. The retracement indicates that Gold will fall to level 2.618 Fibonacci extension or level $1,771.09.

4-hour Chart Indicators Reading
Gold is below the 20% range of the daily stochastic. It indicates that it has fallen to an oversold region of the market. The selling pressure is likely to be exhausted as buyers emerge. The 21-day SMA and the 50-day SMA are sloping downward indicating the downtrend.

General Outlook for Gold (XAUUSD)
XAUUSD’s price is in a downward move after rejection at level $1,900. The market has fallen to the low of above $1,760. If the current support holds, the uptrend will resume.


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Last Updated: June 18th, 2021

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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: Bullish
XAUUSD is in an uptrend. Gold has risen tremendously from its previous low of $1,680 to $1,890. The market reached the high of $1,925 and was repelled. Gold retraced to the support of the 21-day SMA. The uptrend will resume if the 21-day SMA holds. However, if prices break below the 21-day SMA, the downtrend will resume.

Daily Chart Indicators Reading:
XAUUSD is at level 55 of the Relative Strength Index period 14. It indicates that Gold is in the uptrend zone and above the centerline 50. The 21-day SMA and 50-day SMA are sloping upward indicating the uptrend. Gold has a bullish crossover. The 21-day SMA crosses above the 50-day SMA which indicates a buy signal.

Gold (XAUUSD) Medium-term bias: Bullish
On the 2 hour chart, the XAUUSD price is in an upward move. The current bullish trend has reached the overbought region of the market. Meanwhile, on June 4 uptrend, a retraced candle body tested the 78.6% Fibonacci retracement level. The retracement indicates that Gold will rise to level 1.272 Fibonacci extensions or level $1,903.10.

4-hour Chart Indicators Reading
Gold is above the 80% range of the daily stochastic. It is in a bullish momentum. XAUUSD has reached the overbought region of the market. The 21-day SMA and the 50-day SMA are sloping upward indicating an uptrend.

General Outlook for Gold (XAUUSD)
XAUUSD’s price is in an upward move. The gold price has currently reached the overbought region of the market. The market declines and finds support above $1,850. XAUUSD is likely to resume an upward move.



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Last Updated: June 5th, 2021

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