GOLD (XAUUSD) - Weekly Technical Analysis Update
Midterm forecast:
1874.88 is a major support, while this level is not broken, the Midterm wave will be uptrend.
We will close our open trades, if the Midterm level 1874.88 is broken.
Technical analysis:
While the RSI uptrend #1 is not broken, bullish wave in price would continue.
A trough is formed in daily chart at 1780.20 on 01 /28/2022, so more gains to resistance(s) 1916.16, 1959.30, 2000.00 and more heights is expected.
Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
Relative strength index ( RSI ) is 71.
Take Profits:
1790.08
1804.23
1814.96
1834.65
1874.88
1959.30
2000.00
2075. 05
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ForecastCity English Support Team ❤️
1874.88 is a major support, while this level is not broken, the Midterm wave will be uptrend.
We will close our open trades, if the Midterm level 1874.88 is broken.
Technical analysis:
While the RSI uptrend #1 is not broken, bullish wave in price would continue.
A trough is formed in daily chart at 1780.20 on 01 /28/2022, so more gains to resistance(s) 1916.16, 1959.30, 2000.00 and more heights is expected.
Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
Relative strength index ( RSI ) is 71.
Take Profits:
1790.08
1804.23
1814.96
1834.65
1874.88
1959.30
2000.00
2075. 05
❤️ If you find this helpful and want more FREE forecasts in TradingView
. . . . . Please show your support back,
. . . . . . . . Hit the 👍 LIKE button,
. . . . . . . . . . Drop some feedback below in the comment!
❤️ Your Support is very much 🙏 appreciated!❤️
💎 Want us to help you become a better Forex trader?
Now, It's your turn!
Be sure to leave a comment let us know how you see this opportunity and forecast.
Trade well, ❤️
ForecastCity English Support Team ❤️
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