Gold (XAU/USD) Technical Outlook by AliForexTalks

Gold Daily Outlook - June 21, 2022

The gold price provided clear positive trade and remained supported above the 1836 level. However, it starts today with an apparent uptrend to settle above the mentioned level, which encourages us to suggest a bullish bias today. The leading indicators, such as stochastic RSI and RSI, are currently positive, driving a bullish bias for gold.

Above the 1838.10 trading level, gold has the potential to reinforce the uptrend trend, which will continue unless 1850.00 is breached and held above. Today's trading range is expected to be between 1820.00 support and 1855.00 resistance. So, consider looking for buying trades over $1,836 and vice versa. Good luck!
 

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Gold Daily Outlook - June 28, 2022

The gold price continues to decline measuredly, gradually approaching our first support level at 1810.00 to maintain the bearish trend scenario while awaiting further decline to reach 1780.25 as the next support zone.

In general, we will continue to recommend the bullish trend, supported by the 50-period EMA, extending support to near $1,822. However, we may not see a full-fledged buying unless the price rallies to surpass 1850.00 and hold above.

Today's trading range is anticipated to be between 1800.00 support and 1840.00 resistance. The bullish trend is expected today. Good luck!
 

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Gold Daily Outlook - July 05, 2022

Gold price traded with solid negativity in the previous sessions to reach a few pips away from our hoped-for target of 1780.25, influenced by stochastic positivity to show some bullish bias, even though the indicator lost its positive momentum, while the EMA 50 formed continuous negative pressure against the price.

As a result, we believe that the chances of resuming the bearish bias in the coming sessions are valid, noting that breaking 1780.25 will push the price towards 1,750 areas as the next main station while breaking 1819.00 will push the price to achieve additional gains that reach 1850.00 before such a serious attempt to decline. Today's trading range is expected between 1780.00 support and 1825.00 resistance.

Today's expected trend is bearish. Good luck!
 

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Gold Daily Outlook - July 13, 2022

In previous sessions, the gold price fluctuated within the sideways track, with the stochastic losing its positive momentum gradually, while the EMA50 continued to press negatively on the price. As a result, these factors encourage us to continue suggesting a bearish trend for the foreseeable future, and the price needs to break 1730.00 to get a negative motive that will help push the price to 1700.00 directly, noting that holding below 1745.00 represents the initial condition to continue the expected decline.

Today's trading range is expected to be between 1720.00 support and 1760.00 resistance.
Today's expected trend is bearish. Good luck!
 

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Gold Daily Outlook - July 19, 2022

Gold price found solid support at the 1700.00 barriers, indicating a slightly bullish bias, aided by stochastic positivity. At the same time, the EMA50 continues to press negatively on the price, keeping the bearish trend scenario effective for the coming periods, waiting to surpass the mentioned level to head towards 1650.00 as the next target.
Breaking 1690.00 will make it easier to reach the mentioned target, while the price must remain below 1740.00 to ensure the continuation of the suggested bearish wave. Today's trading range is expected to be between 1685.00 support and 1725.00 resistance.
Today's expected trend is bearish.
 

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Gold Daily Outlook - July 25, 2022

Gold price is showing new positive trades as it approaches the 1726.60 level, with a break of this level extending the correcting bullish wave to 1755.70 as the next objective. This implies a bullish trend for today until it breaks and holds below 1704.60.

Today's trading range is anticipated to be between 1700.00 support and 1735.00 resistance.

Today's projected trend: bullish
 

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