đź’ˇ GOLD (XAUUSD) - Weekly Technical Analysis Update
Midterm forecast:
While the price is above the support 1785.00, resumption of uptrend is expected.
We make sure when the resistance at 1916.50 breaks.
If the support at 1785.00 is broken, the short-term forecast -resumption of uptrend- will be invalid.
We will close our open trades, if the Midterm level 1785.00 is broken.
Technical analysis:
While the RSI resistance #1 at 55 is not broken, the probability of price increase would be too low.
While the RSI support #2 at 38 is not broken, the probability of price decrease would be too low.
A trough is formed in daily chart at 1805.00 on 06/14/2022, so more gains to resistance(s) 1835.02, 1853.78, 1874.33 and maximum to Major Resistance (1916.50) is expected.
Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
Relative strength index (RSI) is 45.
Take Profits:
1785.00
1835.02
1874.33
1916.50
1959.30
2000.00
2075.00
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While the price is above the support 1785.00, resumption of uptrend is expected.
We make sure when the resistance at 1916.50 breaks.
If the support at 1785.00 is broken, the short-term forecast -resumption of uptrend- will be invalid.
We will close our open trades, if the Midterm level 1785.00 is broken.
Technical analysis:
While the RSI resistance #1 at 55 is not broken, the probability of price increase would be too low.
While the RSI support #2 at 38 is not broken, the probability of price decrease would be too low.
A trough is formed in daily chart at 1805.00 on 06/14/2022, so more gains to resistance(s) 1835.02, 1853.78, 1874.33 and maximum to Major Resistance (1916.50) is expected.
Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
Relative strength index (RSI) is 45.
Take Profits:
1785.00
1835.02
1874.33
1916.50
1959.30
2000.00
2075.00
❤️ If you find this helpful and want more FREE forecasts in TradingView
. . . . . Please show your support back,
. . . . . . . . Hit the đź‘Ť LIKE button,
. . . . . . . . . . . Drop some feedback below in the comment!
❤️ Your Support is very much 🙏 appreciated!❤️
đź’Ž Want us to help you become a better Forex / Crypto 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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