XAUUSD (GOLD) Daily and Weekly Prediction: Technical and Fundamental Analysis

Analytic Dave 9/27/2021 09:18:00 AM

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.

Weekly XAUUSD (GOLD) Outlook

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?

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Analytic Dave: A Journey in Trading and Investing Analytic Dave is a self-taught trader and investor who shares insights into financial markets, trading psychology, and technical analysis. His journey captures the highs and lows of navigating the complex world of derivatives trading, stocks, and investments. Here are some key aspects of Analytic Dave’s portfolio and content: Portfolio Purpose: Analytic Dave’s portfolio serves as a personal financial analysis journal. It chronicles his experiences, strategies, and learning moments as he navigates the financial markets. Importantly, he emphasizes that his portfolio does not act as financial advice for any community. Trading Psychology: Analytic Dave delves into trading psychology, discussing topics like the Fractals Indicator, RSI Indicator, and setting up Moving Averages. These insights provide valuable perspectives for both novice and experienced traders. Forex Analysis: Analytic Dave offers regular analysis of currency pairs, including GBP/JPY, EUR/USD, and USD/JPY. His technical and fundamental assessments provide traders with actionable information. Weekly and Daily Outlooks: Whether it’s mid-day or daily, Analytic Dave provides outlooks for major currency pairs. These insights help traders stay informed about potential market movements. Educational Content: Analytic Dave’s YouTube channel documents his journey as a trader and investor. While he doesn’t provide financial advice, his channel offers valuable insights for those interested in the world of trading. Remember, Analytic Dave’s journey is personal, and his experiences may resonate with others navigating the financial landscape. As with any financial decisions, it’s essential to conduct thorough research and seek professional advice when needed. Keep exploring, and may your trading journey be as insightful as Analytic Dave’s!