#GOLD
πNew forecast
Our current focus is onπ identifying the optimal entry point within the zone formed between 2350 and 2375. As we can see, the XAUUSD is currently slowing downπ after experiencing a π bearish momentum, which is likely to lead to a pullback. I think that the optimal entry zone for shorting the market is around the 2370 level, as it has been respected each time π it approached in the past.
Today there are π no high-impact news on the horizon, therefore I expect rather a sideways movement.π If the market makes an impulsive move upwards and breaks through the lower border of the channel,π closing above it, I would βοΈconsider it a potential fake breakout. Conversely, if the market rejects this level, it would serve as a confirmation signal to initiate a short position.π»
π―My goal for the next days is key support level at 2300.
πNew forecast
Our current focus is onπ identifying the optimal entry point within the zone formed between 2350 and 2375. As we can see, the XAUUSD is currently slowing downπ after experiencing a π bearish momentum, which is likely to lead to a pullback. I think that the optimal entry zone for shorting the market is around the 2370 level, as it has been respected each time π it approached in the past.
Today there are π no high-impact news on the horizon, therefore I expect rather a sideways movement.π If the market makes an impulsive move upwards and breaks through the lower border of the channel,π closing above it, I would βοΈconsider it a potential fake breakout. Conversely, if the market rejects this level, it would serve as a confirmation signal to initiate a short position.π»
π―My goal for the next days is key support level at 2300.
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Lingrid | GOLD Weekly MARKET OUTLOOK for OANDA:XAUUSD by Lingrid
Last week was a tough period for gold, marked by a sharp reversal where the bull's momentum suddenly gave way to a bearish surge. The bull takes the stairs, the bear jumps out the window as they say. The sudden correction was not a surprise, but rather aβ¦
Lingrid Forex Signals
#GOLD πNew forecast Our current focus is onπ identifying the optimal entry point within the zone formed between 2350 and 2375. As we can see, the XAUUSD is currently slowing downπ after experiencing a π bearish momentum, which is likely to lead to a pullback.β¦
#GOLD
πUPDATE
The gold price has reached the resistance zone, where we've previously seen sell-offs.π» As expected, the market has formed a retracement, moving higher in a corrective move. However, we might see a two-legged pullback,π¦Ώ which would provide an ideal opportunity to go short. The price has tested the resistanceπ level at 2350, only to rebound and continue its downward momentum. ‡οΈ
Looking ahead,π I expect the market to move downward due to the bearish flag pattern π© being broken through. Furthermore, the long tail bar on the 4H timeframe indicates π significant sell pressure.βοΈ Given these factors, I expect the price to retest the psychological level below 2300 and potentially moving even lower.π
π―My goal is the support level around 2310
πUPDATE
The gold price has reached the resistance zone, where we've previously seen sell-offs.π» As expected, the market has formed a retracement, moving higher in a corrective move. However, we might see a two-legged pullback,π¦Ώ which would provide an ideal opportunity to go short. The price has tested the resistanceπ level at 2350, only to rebound and continue its downward momentum. ‡οΈ
Looking ahead,π I expect the market to move downward due to the bearish flag pattern π© being broken through. Furthermore, the long tail bar on the 4H timeframe indicates π significant sell pressure.βοΈ Given these factors, I expect the price to retest the psychological level below 2300 and potentially moving even lower.π
π―My goal is the support level around 2310
TradingView
Lingrid | GOLD Weekly MARKET OUTLOOK for OANDA:XAUUSD by Lingrid
Last week was a tough period for gold, marked by a sharp reversal where the bull's momentum suddenly gave way to a bearish surge. The bull takes the stairs, the bear jumps out the window as they say. The sudden correction was not a surprise, but rather aβ¦
Lingrid Forex Signals
#GOLD πNew forecast Our current focus is onπ identifying the optimal entry point within the zone formed between 2350 and 2375. As we can see, the XAUUSD is currently slowing downπ after experiencing a π bearish momentum, which is likely to lead to a pullback.β¦
#GOLD
πUPDATE
The market has recently pulled β€΄οΈ back into the entry zone, only to be rejected by the resistance level twice. This failure to break through the resistance suggests that the current π trend is shifting to downward.π Furthermore, the presence of a downward trendline that has acted as both support and resistance has repeatedly containedπ the price's upward momentum.
I think that the market is now β‘οΈpoised to retest recent support levels, unless an upcoming news eventπ° significantly changes the market's direction. The recent fake breakout of the 2350-2360 γ½οΈ zone also indicates that the bulls π lack the strength to push the price to new highs. As a result, I expect the price to move lower, π» potentially breaking through the previous week's low.
π―My goal is the support level around 2310
πUPDATE
The market has recently pulled β€΄οΈ back into the entry zone, only to be rejected by the resistance level twice. This failure to break through the resistance suggests that the current π trend is shifting to downward.π Furthermore, the presence of a downward trendline that has acted as both support and resistance has repeatedly containedπ the price's upward momentum.
I think that the market is now β‘οΈpoised to retest recent support levels, unless an upcoming news eventπ° significantly changes the market's direction. The recent fake breakout of the 2350-2360 γ½οΈ zone also indicates that the bulls π lack the strength to push the price to new highs. As a result, I expect the price to move lower, π» potentially breaking through the previous week's low.
π―My goal is the support level around 2310
TradingView
Lingrid | GOLD Weekly MARKET OUTLOOK for OANDA:XAUUSD by Lingrid
Last week was a tough period for gold, marked by a sharp reversal where the bull's momentum suddenly gave way to a bearish surge. The bull takes the stairs, the bear jumps out the window as they say. The sudden correction was not a surprise, but rather aβ¦
Lingrid Forex Signals
#GOLD πNew forecast Our current focus is onπ identifying the optimal entry point within the zone formed between 2350 and 2375. As we can see, the XAUUSD is currently slowing downπ after experiencing a π bearish momentum, which is likely to lead to a pullback.β¦
#GOLD
πUPDATE
The market is still consolidating π following the recent bearish move,π» and the price action is currently forming a head and shoulders pattern.πΏ As you can see, the left shoulder and head have already been established. The price is currently testing the neckline, which coincides with theπ lower border of the channel.
On the 4H timeframe, a potential reversal candleπ is forming at the support level, which could be a short-term pullback from the bottom of the range zone.β€΄οΈ If the price breaks through the neckline, we can anticipate another impulse legπ down to around 2280. Overall, I expect the market to narrow its price rangeπ© in order to form a triangle shape formation before continuing its π current trend.
π―My goal is the support level around 2290
πUPDATE
The market is still consolidating π following the recent bearish move,π» and the price action is currently forming a head and shoulders pattern.πΏ As you can see, the left shoulder and head have already been established. The price is currently testing the neckline, which coincides with theπ lower border of the channel.
On the 4H timeframe, a potential reversal candleπ is forming at the support level, which could be a short-term pullback from the bottom of the range zone.β€΄οΈ If the price breaks through the neckline, we can anticipate another impulse legπ down to around 2280. Overall, I expect the market to narrow its price rangeπ© in order to form a triangle shape formation before continuing its π current trend.
π―My goal is the support level around 2290
TradingView
Lingrid | GOLD Weekly MARKET OUTLOOK for OANDA:XAUUSD by Lingrid
Last week was a tough period for gold, marked by a sharp reversal where the bull's momentum suddenly gave way to a bearish surge. The bull takes the stairs, the bear jumps out the window as they say. The sudden correction was not a surprise, but rather aβ¦
Lingrid Forex Signals
#GOLD πNew forecast Our current focus is onπ identifying the optimal entry point within the zone formed between 2350 and 2375. As we can see, the XAUUSD is currently slowing downπ after experiencing a π bearish momentum, which is likely to lead to a pullback.β¦
#GOLD
πUPDATE
The price perfectly fulfilled my previous idea.π It went up to entry zone and rebounded from it. The market's recent consolidation after its π» bearish momentum has beenπ€ annoyingly steady. Despite this, the price action has created a distinctive equal lows and lower highs, which suggests a compression channel is forming.π©
Given the importance of closing the π·οΈ monthly candle, I expect the market to π remain stuck in neutral today, likely trading sideways. However, if the market can push past the key π resistance level at 2350, I believe we may see a reversal, potentially leading to another lower high as the price corrects itself.π
π―My goal is support level at 2323.
πUPDATE
The price perfectly fulfilled my previous idea.π It went up to entry zone and rebounded from it. The market's recent consolidation after its π» bearish momentum has beenπ€ annoyingly steady. Despite this, the price action has created a distinctive equal lows and lower highs, which suggests a compression channel is forming.π©
Given the importance of closing the π·οΈ monthly candle, I expect the market to π remain stuck in neutral today, likely trading sideways. However, if the market can push past the key π resistance level at 2350, I believe we may see a reversal, potentially leading to another lower high as the price corrects itself.π
π―My goal is support level at 2323.
TradingView
Lingrid | GOLD Weekly MARKET OUTLOOK for OANDA:XAUUSD by Lingrid
Last week was a tough period for gold, marked by a sharp reversal where the bull's momentum suddenly gave way to a bearish surge. The bull takes the stairs, the bear jumps out the window as they say. The sudden correction was not a surprise, but rather aβ¦
#GOLD
πUPDATE
After breaking the previous week's low,π the market is now pulling back β€΄οΈ towards the range zone, signaling a correction against the currentπ» bearish trend. With high-impact news π» on the horizon, the price is poised to move in any direction, but I believe it may continue to trend downwards if the DXY index rises. π
If the market fails to push higher β€΄οΈ at the resistance zone between 2330 and 2340,γ½οΈ we can expect a rebound from this point, potentially leading to a retest of the support level and channel border.β¬
π―My goal is the support level of around 2290
πUPDATE
After breaking the previous week's low,π the market is now pulling back β€΄οΈ towards the range zone, signaling a correction against the currentπ» bearish trend. With high-impact news π» on the horizon, the price is poised to move in any direction, but I believe it may continue to trend downwards if the DXY index rises. π
If the market fails to push higher β€΄οΈ at the resistance zone between 2330 and 2340,γ½οΈ we can expect a rebound from this point, potentially leading to a retest of the support level and channel border.β¬
π―My goal is the support level of around 2290
TradingView
Lingrid | GOLD Weekly PRE-MARKET ANALYSIS for OANDA:XAUUSD by Lingrid
As May closed with a long-tailed monthly candle, it's now clear that we have two consecutive long-tailed candles, which strongly suggests that the OANDA:XAUUSD is struggling to stay above the key resistance level of 2400. This pattern is a significant indicationβ¦