Posts Tagged ‘gold’

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Gold Forecast — May 12th 2020

In this video, the Trader Guy looks at the commodity, gold for the May 12th session. Gold/USD — Gold has tested the bottom of the symmetric triangle pattern. However, the upside looks more likely at the moment. Then the $1,750 level, and the $1,800 level are the targets to the upside. To the downside, the 50-day EMA, and the $1,600 level could offer support. The Fed and the ECB are following loose monetary policy. Unless the risk appetite changes, gold market is […]

Gold Forecast — May 11th 2020

In this video, the Trader Guy looks at the commodity, gold for the May 11th session. Gold/USD — Gold has pulled back after finding resistance at the upper trendline of the symmetric triangle pattern. The market should find enough buyers at the 50-day EMA. The actions of the Fed and the ECB could help gold to move to the upside. Gold market is in an uptrend. Hence look for pullbacks to be used as buying opportunities. To the upside, the $1,800 level is the next […]

Gold Forecast — May 8th 2020

In this video, the Trader Guy looks at the commodity, gold for the May 8th session. Gold/USD — As the fed funds futures see negative rates, the dollar became bearish. This helped gold on Thursday session to rally towards the top of the symmetric triangle pattern, as you can see on the daily chart. The jobs numbers to be released will have a significant influence on this market. The actions of the Fed and the ECB will help this market to go […]

Gold Forecast — May 7th 2020

In this video, the Trader Guy looks at the commodity, gold for the May 7th session. Gold/USD — As you can see on the daily chart, the market needs to make up its mind to break out of this symmetric triangle pattern. However, the 50-day EMA is just below to offer support. So, you can expect value hunters to arrive into this market to push the prices higher. There are global growth concerns […]

Gold Forecast — May 6th 2020

In this video, the Trader Guy looks at the commodity, gold for the May 6th session. Gold/USD — The Tuesday session saw the market to form a hammer candlestick at the $1,700 level. It indicates the presence of buyers at this level and the area below this level. The 50-day EMA below also could provide support. As you can see on the daily chart, you can make an argument for a symmetric triangle pattern. A breakout to the upside, the $1,800 level, and the $2,000 […]

Gold Forecast — May 5th 2020

In this video, the Trader Guy looks at the commodity, gold for the May 5th session. Gold/USD — Gold market is experiencing strong bullish pressure at the moment. Gold opened on Monday session gapping higher and fell towards the $1,700 level. This market is in an uptrend. You can expect buyers to arrive at the 50-day EMA below. Central banks like the Fed and the ECB are depreciating the value of their currencies, which could help […]

Gold Forecast — May 4th 2020

In this video, the Trader Guy looks at the commodity, gold for the May 4th session. Gold/USD — Gold formed a hammer candlestick on the Thursday session at the $1,700 level. You can make an argument for a symmetrical triangle pattern. A breakout to the upside, you can expect the $1,800 level as the next target. A breakout to the downside, the 50-day EMA will come into play. Central banks like the Fed and the ECB are depreciating the value of their currencies. So, […]

Gold Forecast — May 1st 2020

In this video, the Trader Guy looks at the commodity, gold for the May 1st session. Gold/USD — The Thursday session saw the gold market to pullback a bit. The area below extending down to the $1,680 level is supportive, Below that, the 50-day EMA will offer support. The Friday session could see investors buying stocks due to a risk-on sentiment. The Fed is doing quantitative easing. Also, the actions of the ECB will contribute for higher […]

Gold Forecast — April 30th 2020

In this video, the Trader Guy looks at the commodity, gold for the April 30th session. Gold/USD — The $1,700 level is now offering strong support. This level could be the line in the sand for this market at the moment. The FOMC Meeting minutes came out with a message that indicates the weakening of the US dollar. Also, the Fed, and the ECB are following a soft monetary policy. So, it means higher prices in the gold market. […]

Gold Forecast — April 29th 2020

In this video, the Trader Guy looks at the commodity, gold for the April 29th session. Gold/USD — Gold on Tuesday session showed signs of support at the $1,700 level. The area below this level look supportive. Also, the 50-day EMA is supportive. The actions of the Fed and the ECB will only contribute for higher prices in gold. This market is in an uptrend. So, you can use pullbacks as buying opportunities.

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