XAUUSD (GOLD) Daily and Weekly Prediction: Technical and Fundamental Analysis
XAUUSD (GOLD) Daily and Weekly Prediction: Technical and Fundamental Analysis
XAUUSD (GOLD) Fundamental Analysis: Key Focus Areas
i.
FED speakers: Possible taper announcement in
November.
ii.
Picking of the US yields (after the FOMC
meeting)
XAUUSD (GOLD) Support and Resistance
Support
Support
1: 1682
Support
2: 1666
Support
3: 1585
Resistance
Resistance
1: 1755
Resistance
2: 1825
Resistance
3: 1849
XAUUSD (GOLD) Technical Analysis: Key Focus Areas
First,
it is important to recognize that the US 10-year yield skyrocketed to a three-month
high. The scenario resulted in the Dollar picking up and pushing XAUUSD
(GOLD) further down to the areas around 1749. Technically, it is no doubt that
the bulls will take the day to the area around 1770.
As
per the current status, XAUUSD (GOLD) is
currently positioned at 1751.300. My technical outlook shows that Gold will go
down to the area around 1736 to 1740 then shoot up to the area over 1780.
Bottom line:
In building my portfolio, risk management, leverage, patience, and small lot
sizes remain my key tools of the trade. What are your thoughts on my
fundamental considerations and technical analysis?
Analytic Dave
AnalyticalDave is a personal financial analysis portfolio that captures my Derivatives trading, stock, and investing journey. My portfolio does NOT act as a financial advisor to any community. It is only purposed for journaling my story as a self-taught trader and investor.
