Weekly Gold Price Chart: This week, the gold price has continued to consolidate at the same level as the previous week’s closing price. The price has a tendency to slow down while waiting for important economic news, particularly the US interest rate announcement that is scheduled to be released on Wednesday night into Thursday morning. The overall weekly picture is still unclear this week, with the possibility of both an upward reversal or a move down to test the blue channel support line around $2,330, which is around the 20-week EMA (green line) level of approximately $2,315.
Daily Gold Price Chart: Yesterday, the price moved up to test the $2,400 resistance zone and then pulled back, making a low of $2,370 before recovering again, resulting in an indecision bar at the close. Overall, the daily chart is still consolidating above the 50-day EMA support. Considering the key fundamental factors this week, in the near term, there is a possibility of both an upward adjustment or a downward correction, with the interest rate announcement and policy statements to be released tomorrow night being the key driving factors.
4-hour Gold Price Chart: The price was able to break below the short-term support of the 120-period EMA (red line) at the $2,390 level yesterday. The price then moved down to test the $2,370 support level and rebounded back towards the EMA level. Overall, the price is currently consolidating within a Symmetric Triangle pattern, suggesting a Confirmation Entry trading approach. It is recommended to wait for a breakout from the triangle before entering a new trade direction, and then consider trading in the direction of the breakout.
1-hour Gold Price Chart: the price has been moving within a Downtrend Channel (blue). Yesterday, the price pulled back from the Supply Zone (green) which coincided with the resistance of the Channel, adjusting from $2,400 down to the $2,370 zone and then bouncing back to test the 480-period EMA (1H), which is also the 20-day EMA. The price behavior and trend for today remain uncertain. It is recommended that traders wait for a breakout from the triangle pattern before considering a new trade direction based on the breakout. Gold is a low-risk asset but has high price volatility. It is advised to trade gold cautiously, with mindfulness and appropriate risk management.
The information provided is for educational and informational purposes only. It does not constitute financial advice. Any trading or investment decisions should be made with caution and based on your own research and risk appetite.
Weekly Gold Price Chart: This week, the gold price has risen strongly and has a high chance of reaching a new all-time high at the $2,500 level. The 20-week EMA (green line) is around $2,322. Today, the US will announce the Nonfarm Payrolls, Unemployment Rate, and Average Hourly Earnings data at 7:30 PM (UTC+7). The gold price is likely to experience high volatility during the news announcement, so it is advisable to trade cautiously and manage risks appropriately.
Daily Gold Price Chart: Yesterday, the price consolidated between the Fibonacci 78.6% and 61.8% levels, closing as an Indecision Bar with a slight decline. This morning, the price has moved up closer to yesterday’s high of $2,462. Overall, the opportunity and trend to move up and test higher price levels, or the blue resistance channel, are still strong. The 20-day EMA support is at $2,406, which is also a psychological support level.
4-hour Gold Price Chart: The chart shows that yesterday, the price had a chance to pull back and test the previous day’s high at $2,434-$2,330, and then continue to move up to the profit target at $2,458 as expected. The current price is currently trading above the green 20-period EMA line at around $2,432 and continuing to rise. There is a chance it could move up to test the blue dotted resistance line near the 88.6% Fibonacci level at $2,468.
1-hour Gold Price Chart: The gold price is moving along the uptrend channel structure, with the price dipping down to test the middle blue dotted line this morning and then bouncing back up. Overall, the price is still being controlled by the blue 50-period EMA (1H) line which is acting as a dynamic support. The likelihood of continued upward movement within the channel is high, and there is a chance the price could test the all-time high at $2,484 today. Gold is a low-risk asset but has high price volatility. It is recommended to trade it with caution, mindfulness, and appropriate risk management.
The information provided is for educational and informational purposes only. It does not constitute financial advice. Any trading or investment decisions should be made with caution and based on your own research and risk appetite.
Weekly Gold Price Chart: At the beginning of this week, the gold price fluctuated heavily from the market open. However, on Tuesday, Wednesday, and Thursday, the gold price adjusted with low volatility. The price behavior during this period is starting to compress, with a lower High and a higher Low, indicating uncertainty in the direction of buying power from both the seller and buyer sides. The price trend is still waiting to choose a clear direction. The important support level for the weekly timeframe is still the 20-week EMA (Exponential Moving Average) line at the price level of $2,329.
Daily Gold Price Chart: The gold price is trading within the BB middle bands at around $2,413. The current price movement is in a symmetric triangle pattern, with the resistance line sloping down and the support line rising. The price trend for today is still unclear, with the possibility of moving in either direction. Overall, the price is still moving within the ascending channel in a sideways-up trend.
4-hour Gold Price Chart: The price is trading below the 50-period EMA (4H) blue line, which is acting as a downward pressure on the price. The price is also trading within the Swap Zone. Today’s focus is on a SHORT position, targeting the price breakdown that occurred on Monday around the $2,424 level. For a LONG consideration, the focus remains on trading within the support frame of the triangle pattern around the $2,375 level.
1-hour Gold Price Chart: The price has broken out of the Uptrend Channel’s support, which is now a Support/Resistance Flip. The red line will act as a downward pressure, but the price has broken out of the blue dashed Speed Line. In the 1H structure, there has been a break in the structure, and there is a tendency for a Break & Retest of the Speed Line. Therefore, in the short term today, the price has the opportunity to test the minor Speed Line, the red support line, with an initial support around $2,380. Gold is a low-risk asset but has high price volatility. It is recommended to trade with caution, mindfulness, and appropriate risk management.
The information provided is for educational and informational purposes only. It does not constitute financial advice. Any trading or investment decisions should be made with caution and based on your own research and risk appetite.
Weekly Gold Price Chart: This week’s market opened with the weekly chart still maintaining an upward momentum, continuing from the previous week. However, the price is still capped by the resistance of the previous Price Consolidation range. The High and Low price range is starting to converge, with a lower High and a higher Low. The price trend is still waiting for a clear direction, but the current opportunity suggests the uptrend is more likely, given the price structure aligning with the broader trend. The important support for the weekly timeframe remains the 20-week EMA (green line) around the $2,345 price level.
Daily Gold Price Chart: Yesterday, the price rebounded strongly from the consolidation around the BB (Bollinger Bands) Middle at around $2,415, testing the resistance of the Symmetric Triangle pattern at around $2,477. Today, there is a possibility of a minor pullback, and the price may return to test the resistance line again. If it breaks through, there is a likelihood of moving to test the resistance of the Ascending Channel pattern around the $2,495-$2,500 price level.
4-hour Gold Price Chart: After the price tested the previous resistance at $2,477, which was the ceiling of the Symmetric Triangle pattern, the price structure in the 4-hour chart shows a reversal pattern. There is a possibility of a pullback or retracement, where the price may adjust downwards to the $2,455 price zone. For short-term traders, it may be prudent to wait for more clarity in the price structure or a re-test of the resistance line before considering a short position, to reduce the risk of trading against the current momentum.
1-hour Gold Price Chart: - The price has moved down rapidly after hitting the resistance of the Symmetric Triangle pattern’s blue dotted line. Currently, the price has returned above the red Speed Line and is consolidating at the support of the Speed Line. From this point, there are two possibilities - the price may pull back to the $2,455 demand zone, and then bounce back up to retest the previous high at $2,477, or it may rebound to test the resistance line and the previous high again. Gold is a low-risk asset, but it has high price volatility. It is advised to trade gold cautiously, with mindfulness and appropriate risk management.
The information provided is for educational and informational purposes only. It does not constitute financial advice. Any trading or investment decisions should be made with caution and based on your own research and risk appetite.
Weekly Gold Price Chart: The price is still trading above the previous week’s closing price. Yesterday, it tested the high of 2 weeks ago, but there was a Fakey and it adjusted lower. The price is still stuck at the resistance of the Price Consolidation range, where the movement range of the high and low prices is starting to converge, with a lower High and a higher Low. The price trend is still waiting to choose a clear direction. The key support of the weekly timeframe is still the 20-week EMA, the green line at the $2,345 price level.
Daily Gold Price Chart: Yesterday, the price went up to test the resistance of the Symmetric Triangle, the blue dashed line at around $2,477, but there was a False Break and it reversed down from the resistance, closing as a Bearish candle. Today, there is a chance of bouncing up to continue the downtrend. The support is at the BB Middle Bands around $2,418.
4-hour Gold Price Chart: The price has reached a previous high of $2,479 and formed a false break, reversing back from the Symmetric Triangle resistance. The price structure in the 4H frame shows a Triple Top reversal pattern and a break below the $2,460 Neckline, moving down to make a Swing Low at $2,338. Today, the $2,460 level will be a resistance, and $2,440 will act as support. It is expected that the price will continue to move lower, at least to test the previous low at $2,440.
1-hour Gold Price Chart: The price has broken below the red Speed Line, breaking out of the Neckline after forming a Triple Top at the resistance of the symmetric triangle. Today, the focus is on SHORT based on the current momentum. The key levels to consider are $2,460 and the red resistance line. The first target is $2,440, and the next target is $2,430. Gold is a low-risk asset, but it has high price volatility. It is recommended to trade with caution, mindfulness, and appropriate risk management.
The information provided is for educational and informational purposes only. It does not constitute financial advice. Any trading or investment decisions should be made with caution and based on your own research and risk appetite.
