XAUUSD Technical Analysis
Strong support: 1939 / 1914.
Strong resistance: 1954 / 1965
Gold is testing sideways range support and several scenarios could develop from here. You have to be prepared for each one.
It is forming a triangle pattern. A decline in the dollar will strengthen our gold.
The moving averages indicate that consolidation is forming. If there is not a strong pullback upwards, in the medium term we should expect a fall in price along the trend
If the dollar goes down and forms a correction, gold will strengthen to 1965 and possibly to 1984, but if the dollar continues to rise after exiting the triangle, gold will start another decline to 1914.
Strong support: 1939 / 1914.
Strong resistance: 1954 / 1965
Gold is testing sideways range support and several scenarios could develop from here. You have to be prepared for each one.
It is forming a triangle pattern. A decline in the dollar will strengthen our gold.
The moving averages indicate that consolidation is forming. If there is not a strong pullback upwards, in the medium term we should expect a fall in price along the trend
If the dollar goes down and forms a correction, gold will strengthen to 1965 and possibly to 1984, but if the dollar continues to rise after exiting the triangle, gold will start another decline to 1914.