XAUUSD outlook
Last week we mentioned seasonally during October gold is typically range bound. Past week gold remained rangebound and not much has changed.
On the chart, we have highlighted The External Range and the Internal Range.
There is liquidity on both sides of the Internal Range. Gold at one point needs to break out of the Internal Range.
Gold is currently below 50EMA and still remains bearish. On Friday NFP pushed the price up to and was rejected at 50EMA leaving a long wick on D1 Candle.
Price is likely to reach up to retest at least 50% of that wick, and a further rejection at 50EMA could result in Gold price plummeting and reaching for the sell-side liquidity at 1721-1707 zone followed by 1680.
We will remain bearish on gold until we see D1 candles above 50EMA.
On the chart, we have highlighted The External Range and the Internal Range.
There is liquidity on both sides of the Internal Range. Gold at one point needs to break out of the Internal Range.
Gold is currently below 50EMA and still remains bearish. On Friday NFP pushed the price up to and was rejected at 50EMA leaving a long wick on D1 Candle.
Price is likely to reach up to retest at least 50% of that wick, and a further rejection at 50EMA could result in Gold price plummeting and reaching for the sell-side liquidity at 1721-1707 zone followed by 1680.
We will remain bearish on gold until we see D1 candles above 50EMA.
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.