In this video, the Trader Guy looks at the commodity, gold for the July 17th session. Gold/USD — Initially, the market was bullish on Tuesday session, then it fell back to give back the gains. This is a market that should be seen as a value when it pulls back. As mentioned in the previous videos, the $1,350 level, and the 50-day EMA could offer support. To the upside, the $1,500 level is the target. With the ECB and the Fed […]
Posts Tagged ‘gold’
Gold Forecast — July 16th 2019
July 16, 2019 at 14:00
In this video, the Trader Guy looks at the commodity, gold for the July 16th session. Gold/USD — The market on Monday session opened gapping higher. When this market pull back, then the 50% Fib retracement level, and the 50-day EMA could offer support. You need to see the market break out of this range to the upside to buy gold. Also, pullbacks are buying opportunities. The possibility of the Fed cutting interest rates, will […]
Gold Forecast — July 15th 2019
July 15, 2019 at 14:49
In this video, the Trader Guy looks at the commodity, gold for the July 15th session. Gold/USD — The Friday session was slightly bearish for gold. As you can see on the weekly chart, there are two shooting star candlesticks formed at these highs. So, it looks like that this market could pull back a bit to locate for support. To the downside, the 50-period EMA, and the $1,350 level look supportive. Also, the 50% Fibonacci […]
Gold Forecast — July 12th 2019
July 12, 2019 at 14:47
In this video, the Trader Guy looks at the commodity, gold for the July 12th session. Gold/USD — The market initially rallied, but found strong resistance at these highs, and then turned around to the downside. The $1,350 level below looks like the floor in this market. Also, the 50-day EMA below looks supportive. So, pullbacks are seen as buying opportunities. To the upside, the $1,500 is the target. There is a possibility of a rate cut by the Fed […]
Gold Forecast — July 11th 2019
July 11, 2019 at 17:23
In this video, the Trader Guy looks at the commodity, gold for the July 11th session. Gold/USD — Initially, the market fell, but then rallied to show signs of strength. This was due to the speech by Jerome Powell, the Fed President. Now, it looks like the rate hike by the Fed seems more likely. So, this market could remain in consolidation for a while. The market needs to fill this gap below. So, buying on dips […]
Gold Forecast — July 10th 2019
July 10, 2019 at 12:23
Gold/USD — Initially, the market fell, but then found to form a hammer candlestick on the daily chart. However, this market looks range bound at the moment. The investors are waiting to hear what Jerome Powell, the Fed President has to say in front of US Congress. Any dovishness in his speech could cause the greenback to weaken The 50-day EMA, the 50% Fibonacci retracement level below, and the gap below could offer support. However, […]
Gold Forecast — July 9th 2019
July 9, 2019 at 14:36
In this video, the Trader Guy looks at the commodity, gold for the July 9th session. Gold/USD — The market initially rallied on Monday session, but the bulls lost their gains in the later part of the session, and formed a bearish candlestick on the daily chart. This shows that bulls are losing control of this market. Also, this is evident from the formation of two shooting star candlesticks on the weekly chart. The 50-day EMA, the 50% Fibonacci […]
Gold Forecast — July 8th 2019
July 8, 2019 at 14:40
In this video, the Trader Guy looks at the commodity, gold for the July 8th session. Gold/USD — The Friday session for gold was very bearish as the market fell strongly. This was due to the jobs numbers released from the US. This indicates that a rate cut by the Fed looks less likely at the moment. However, the speech by the Fed chair Jerome Powell indicates that a rate cut is likely. If that happens, then […]
Gold Forecast — July 5th 2019
July 5, 2019 at 14:14
In this video, the Trader Guy looks at the commodity, gold for the July 5th session. Gold/USD — The market fell slightly on Thursday session. But the gap is not yet filled. When the market gets closer to $1,350, which is the 50% Fibonacci retracement level, then it is a buying opportunity. There is a double top pattern on the daily chart. The investors are waiting for the non-farm payroll report today. That could […]
Gold Forecast — July 4th 2019
July 4, 2019 at 14:40
In this video, the Trader Guy looks at the commodity, gold for the July 4th session. Gold/USD — The market opened on Wednesday session gapping higher. The US is celebrating the Independence Day. So, there is going to be less liquidity in the market. Any pullback, the market then could try to fill this gap. Gold market is moving in increments of $50. Any bounce off the $1,400 level showing signs of support like […]