Posts Tagged ‘gold’

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Gold Forecast — March 31st 2020

In this video, the Trader Guy looks at the commodity, gold for the March 31st session. Gold/USD — Gold is now pressing the $1,650 level for support. To the upside, the $1,700 level is psychologically significant, and could face strong resistance. A daily candle close above this level is significant and you can then aim for the $1,800 level as the next target. A break below the $1,600 level, then the 50-day EMA will come into […]

Gold Forecast — March 30th 2020

In this video, the Trader Guy looks at the commodity, gold for the March 30th session. Gold/USD — The $1,700 level proves to be strong resistance and psychologically significant at the moment. So, it makes sense that this market needs a pullback. To the downside, the $1,550 level could offer strong support. Also, the 50-day EMA will come in the way of support. So, a candle close above the $1,700 level is seen as a long term move. […]

Bitcoin Versus Gold

Bitcoin is also referred to as digital gold. Is there a justification for saying so? However, there are only 21 million bitcoins in circulation. Both gold and bitcoin have limited supply. Gold market is in an uptrend. The demand for gold is rising due to its use in jewellery and the monetary policy followed by the central banks. However, bitcoin is facing less demand patterns as the market is more influenced by speculation. It […]

Gold Forecast — March 26th 2020

In this video, the Trader Guy looks at the commodity, gold for the March 26th session. Gold/USD — The market saw a sideways price action on Wednesday session. The $1,700 level is psychologically significant and could offer strong resistance. So, this market could fall, and locate support below. Pullbacks are to be seen as buying opportunities at the moment. The market is bullish as long as it stays above the $1,550 level. The 50-day EMA and the 200-day […]

Gold Forecast — March 25th 2020

In this video, the Trader Guy looks at the commodity, gold for the March 25th session. Gold/USD — The trading session was extremely bullish on Monday session, as the market shot straight up towards the $1,700 level. This level could offer strong resistance and hence the market needs a pullback. The Fed is following a loose monetary policy at the moment. The $1,600 level below looks supportive. Hence, you can use pullbacks as buying opportunities.

Gold Forecast — March 24th 2020

In this video, the Trader Guy looks at the commodity, gold for the March 24th session. Gold/USD — Gold opened gapping higher on Monday session, but then fell back to fill that gap. Gold once again rallied after more quantitative easing from the Fed. However, the 50-day EMA will offer strong resistance, and this market will need a pullback. So, pullbacks are buying opportunities, and you can aim […]

Gold Forecast — March 23rd 2020

In this video, the Trader Guy looks at the commodity, gold for the March 23rd session. Gold/USD — The market saw a sideways price action on Friday session. The market could consolidate between the $1,450 level and the $1,500 level. However, at some point, the market could break higher. Then the market needs to clear the resistance at the 200-week EMA. This market is behaving similar to the US stock market at the moment and attempting to build a base here. So, […]

Gold Forecast — March 20th 2020

In this video, the Trader Guy looks at the commodity, gold for the March 20th session. Gold/USD — Gold saw a sideways price action on Thursday session. It looks like this market is going to be choppy and hover around the 200-day EMA. You need to see a candle close above the $1,500 level. The $1,450 level is seen as a floor in this market. You can expect forced liquidation to take place in the gold […]

Gold Forecast — March 18th 2020

In this video, the Trader Guy looks at the commodity, gold for the March 18th session. Gold/USD — Gold formed a neutral candlestick on Tuesday session, as it has found support at the 200-day EMA, and the $1,500 level. A break above the top of this neutral candlestick is seen as a signal to buy. The gold market is likely to stabilize by the actions of the central banks like the Fed and the ECB as they are involved in following a loose monetary policy at the moment. […]

Gold Forecast — March 17th 2020

In this video, the Trader Guy looks at the commodity, gold for the March 17th session. Gold/USD — The Monday session was very bearish for gold as it sliced through the 200-day EMA. However, it found support later to show signs of life. So, the $1,450 level looks supportive now. For risk averse investors, you can buy gold on signs of a supportive candle like a hammer. Alternatively, you can wait for the candle close […]

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