Gold (XAU/USD) Technical Outlook by AliForexTalks

Nice countertrend trade there on the retracement if timed correctly

The H4 chart shows that the price made a bullish breakout at the trendline, which drove the price towards the downside for quite a while. The price had a rejection at 1847.35 and found its support around 1831.90. A bullish breakout at 1847.35 may push the price towards the North in Gold.

This could come in line with DXY having a healthy retrace. It is definitely in need of one

Can see gold pushing upwards for weeks to come . Safe havens looking ever more attractive with the impending stagflation

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Yea jpy as well

The daily chart shows that the price made a long bearish move by obeying a down trending trend line. The price has been moving towards the trendline’s resistance. Traders are to be very watchful here. A bullish breakout may push the price towards the upside. A bearish reversal pattern, on the other hand, may drive the price towards the South again.

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Like the loow of this there is also a lot of buy side liquidity resting below the lows to the left. Could be a nice TP target

The trend line is still in play. It produced a bearish candle followed by another one. The sellers may look to go short in Gold.

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There are relative equal lows to target to the downside too

Nice set up :+1:

How low do you think we can go with Gold? Back down to $1650?

Gold seems to have found its support around 1807.80. The price had its second bounce at the level. If the price makes a bullish breakout at 1878.60, the bull may dominate in Gold.

Just watching gold all week and its literally moving side to side maybe there is volatility coming soon

I can a bull trap over equal highs to entice traders before another run South

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What do you mean by bull trap?

The H4 chart shows that the price had bounced at the level of 1697.90 twice. Thus, the buyers may push the price towards the North. However, a down trending trend line is still in play, which may work as a level of resistance here.

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Yeah looks to me like its found some strong support at the moment

Very bearish lately, but can see a potential pullback to around the 1800 area - but then maybe a continuation to the downside.

The H4 chart shows that the price gets caught within a triangle. The next breakout is going to be the key to determine its direction. The Bull seems to have an upper hand here.

I prefer to look into 1D chart and the situation there is becoming interesting but let’s see next week action.

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