Gold (XAU/USD) Technical Outlook by AliForexTalks

It’s guna bomb for sure

Its like a water paper bag at the moment. Will be looking for the higher high confirmations and putting a long term trade in

Gold seems to be having a bullish correction in the H4 chart. Since the price has been very bearish for a while. The buyers may want to wait for a Double Bottom to go long. It may get bearish upon finding its resistance. The level of 1636.20 may work as a level of resistance.

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Its been such a difficult pair to trade with USD waiting on a retracement i feel itll be interesting to see how Gold reacts

Technically, 1644.00 level seems to be very important level in Gold. A bearish breakout may drive the price towards the South. On the other hand, a bullish breakout at 1664.20 will be considered as a neckline breakout of a Double Bottom. That may make Gold be bullish in the H4 chart.

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I like the pyschological levels mentioned. Its just very hard at the moment trusting anything other as the fundamentals affecting gold and USD are so strong

I’ll be interested to see how we handle to 1628.215 - 1617.280 area. Will we see a bullish continuation from here?

Let’s see.

I think it depends from FED mostly.

The level of 1638.50 has been holding the price as a level of support. Traders are to be very watchful here. A bearish breakout may drive the price towards the South. A bullish reversal pattern at that level may attract the buyers to go long.

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Too volatile for me. I havent been able to trade this pair for nearly a year now. Its crazy ive had to stay out this long

The price has been heading towards the South with good momentum. The pair may find its next support around 160.000.

Looks like we have started the Christmas bull run early.

A massive weekly close to the upside, maybe a bit of a pullback next week and a continuation higher? That’s my initial thought.

Gold has been bullish in the H4 chart by obeying a trend line. The price is having consolidation. A bullish breakout at consolidation resistance may push the price towards the North further.

We have just hit a Weekly OB around 1780 - so it will be interesting to see how we react from here.

Technically we are still bullish on the smaller TF - however Gold is known to be bullish around November/December - so I will be looking for the pullback next week for a continuation higher.

Perfect little head and shoulders pattern formed on the 4H, if anyone trades these.

Gold made a good bearish move in the H4 chart. The level of 1735.00 has been working as a level of resistance. The price may consolidate around this level for a while. A bearish breakout may drive the price towards the South.

I think there could be a retracement on DXY soon so ill expect a bullish move to come

Gold had a bounce at 1726.40. It produced a bullish engulfing candle as well. Thus, the buyers may keep their eyes to go long in Gold as far as the daily chart is concerned.

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Gold made a good bullish move in the H4 chart. The level of 1783.20 has been working as a level of resistance here. The buyers may wait for the price to make a bullish breakout and go long above that level.

The H4 chart shows that the level of 1802.40 has been breached. It may hold the price as a level of support and push the price towards the North. If the price comes inside, it may get choppy for a while.