In this video, the Trader Guy looks at the commodity, gold for the February 20th session. Gold/USD — Gold has broken above the $1,600 level, as you can see on the daily chart. Now, you can view the $1,800 level as the next target. Selling gold is not seen as a rewarding trade at the moment. So, pullbacks are seen as buying opportunities. To the downside, gold has plenty of support. Both the 5-day EMA and the $1,500 level […]
Posts Tagged ‘gold’
Gold Forecast — February 18th 2020
February 18, 2020 at 14:14
In this video, the Trader Guy looks at the commodity, gold for the February 18th session. Gold/USD — The Monday session saw thin volume to the Presidents' Day holiday in the US, which contributed to limited Globex trading. However, gold market is in an uptrend and looks set to go higher. So, buying pullbacks are seen as value at the moment. The 50-day EMA and the $1,500 level could offer support. Central banks like the Fed and the ECB are […]
Gold Forecast — February 17th 2020
February 17, 2020 at 14:39
In this video, the Trader Guy looks at the commodity, gold for the February 17th session. Gold/USD — The Friday session saw the market to rally towards the $1,600 level, which is strong resistance at the moment. A daily candle close above this level is significant. The combination of 50-day EMA and the 200-day EMA indicates an uptrend. So, pullbacks are buying opportunities. You can make an argument for an ascending triangle pattern, as you can see […]
Gold Forecast — February 14th 2020
February 14, 2020 at 15:54
In this video, the Trader Guy looks at the commodity, gold for the February 14th session. Gold/USD — The market needs to overcome the $1,600 level, which is strong resitance. Hence, you can expect a pullback to happen, and you can use it as a buying opportunity. This price pattern brings an argument for an ascending triangle pattern. A daily candle close above the $1,600 level is bullish. The 50-day EMA and the $1,500 level will offer […]
Gold Forecast — February 13th 2020
February 13, 2020 at 15:56
In this video, the Trader Guy looks at the commodity, gold for the February 13th session. Gold/USD — The $1,600 level continues to offer resistance, as you can see on the daily chart. To the downside, the 50-day EMA could offer support. So, the market needs a pullback, and pullbacks are buying opportunities. The gold market is still in an uptrend. The leading central banks like the Fed and the ECB are following a loose monetary policy and it could favor […]
Gold Forecast — February 12th 2020
February 12, 2020 at 14:54
In this video, the Trader Guy looks at the commodity, gold for the February 12th session. Gold/USD — The Tuesday session was slightly bearish for gold. Now, you can expect the market to look for support at the $1,550 level. Also, the 50-day EMA will offer support. So, short-term dips are buying opportunities. A daily candle close above the $1,600 level is very significant and the next target is going to be the $1,800 level. […]
Gold Forecast — February 11th 2020
February 11, 2020 at 16:08
In this video, the Trader Guy looks at the commodity, gold for the February 11th session. Gold/USD — The Monday session was slightly bullish for gold as a move towards the $1,600 level looks likely at the moment. This level could offer strong resistance. A daily candle close above this level is significant. There is a confluence of support from the 50-day EMA, the $1,550 level, and this little bullish trendline. Gold was more […]
Gold Forecast — February 10th 2020
February 10, 2020 at 15:20
In this video, the Trader Guy looks at the commodity, gold for the February 10th session. Gold/USD — The $1,550 level continues to offer support. The market could slowly grind upwards towards the $1,600 level. A daily candle close above this level is significant, and you can expect the next target to be the $1,850 level. The 50-day EMA is rising and indicates the buying pressure. So, dips are buying opportunities at the moment.
Gold Forecast — February 7th 2020
February 7, 2020 at 15:05
In this video, the Trader Guy looks at the commodity, gold for the February 5th session. Gold/USD — The $1,550 level offered support and the market bounced off this level. So, the $1,600 level could be the next target. You have the jobs numbers to be released soon, which will have significant impact on volatility of this market. A break above the $1,600 level is seen as a long-term move. So, short-term pullbacks are […]
Gold Forecast — February 5th 2020
February 5, 2020 at 17:49
In this video, the Trader Guy looks at the commodity, gold for the February 5th session. Gold/USD — The trading session was extremely bearish on Tuerday, as the risk-on sentiment dominated the market. Both the 50-day EMA and the $1,550 level look supportive. This little uptrend could offer support. So, you can buy pullbacks on signs of a supportive candle on the daily chart. A break above the $1,600 level is seen as a long-term move to the upside.