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.
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.