๐กGOLD (XAUUSD) - Weekly Technical Analysis Update
Midterm forecast:
1674.85 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 1674.85 is broken.
Technical analysis:
The RSI downtrend #1 is broken, so the probability of continuation of uptrend is increased.
A trough is formed in daily chart at 1616.52 on 11/03/2022, so more gains to resistance(s) 1807.13, 1850.71, 1878.75 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 70.
Take Profits:
1658.96
1688.79
1708.45
1730.00
1765.00
1807.13
1850.71
1878.75
1914.23
1980.16
2074.89
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Trade well, โค๏ธ
ForecastCity English Support Team โค๏ธ
1674.85 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 1674.85 is broken.
Technical analysis:
The RSI downtrend #1 is broken, so the probability of continuation of uptrend is increased.
A trough is formed in daily chart at 1616.52 on 11/03/2022, so more gains to resistance(s) 1807.13, 1850.71, 1878.75 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 70.
Take Profits:
1658.96
1688.79
1708.45
1730.00
1765.00
1807.13
1850.71
1878.75
1914.23
1980.16
2074.89
โค๏ธ If you find this helpful and want more FREE forecasts in TradingView
. . . . . Please show your support back,
. . . . . . . . Hit the ๐ LIKE button,
. . . . . . . . . . . Drop some feedback below in the comment!
โค๏ธ Your Support is very much ๐ appreciated!โค๏ธ
๐ 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, โค๏ธ
ForecastCity English Support Team โค๏ธ
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