wasiu2015

Gold price hovers around the EMA50, waiting to get positive momentum that assist to push the price to resume the expected bullish trend for the upcoming period, organized inside the bullish channel that appears on the chart, reminding you that our next target is located at 2075.25Holding above 2010.00 is important to continue the expected rise, as breaking it represents negative factor that will push the price to start bearish correction for the bullish wave that started from 1810.35 areas.The expected trading range for today is between 2015.00 support and 2050.00 resistanceThe expected trend for today: Bullish

Gold price faced negative pressure to break 1975.00 level and approaches the most important support at 1962.35, and as long as the price is above this level, the bullish trend scenario will remain active for the upcoming period, reminding you that our waited targets begin at 2000.00 followed by 2009.30.I remain long on xauusd as price is above 1977 as at the time of writingGold price rallied upwards strongly to succeed achieving our first target at 2000.00 and surpassed it to approach the second waited target at 2009.30, and the way seems open to continue the rise and surpass this level to achieve additional gains that reach 2030.00, taking into consideration that failing to breach it will push the price to rebound bearishly and head towards 1975.00 mainly.

Hello Everyone,Please see our updated 4h chart levels and targets for the week..Looking at the 4-hour chart, the upward trend is still favored with the EMA line reversing. Alongside this, the US dollar has faced strong selling pressure and continues to extend into today, which plays an important advantage for gold prices.In the long term, we remain optimistic about the precious metal despite waning buying power due to concerns over political tensions that had previously pushed gold back to $2,000/ounce. However, expectations of changing interest rates as inflation cools down, central bank gold purchases, and concerns about economic recession will provide solid support for gold in the coming period.We will keep the above in mind when taking buys from dips. Our updated levels and weighted levels will allow us to track the movement down and the catch bounces up.BULLISH TARGETS198819982017BEARISH TARGETS - RETRACEMENT RANGE19661937As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Please don't forget to like, comment and follow to support us, we really appreciate it!Only return and close below 20DMA would weaken near-term structure and signal recovery stall.