Gold (XAU/USD) Technical Outlook by AliForexTalks

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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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Gold Daily Outlook - Aug 11, 2022

The gold price moves negatively, breaking the bullish channel's support line and heading towards a probable test of the first significant level at 1779.25, backed by unambiguous positive indications from stochastic, while the EMA 50 meets the aforesaid support, adding strength to it.

As a result, we anticipate positive trades in the coming sessions, with the targets beginning with testing 1802.80 again and attempting to breach it to head towards 1831.95, while breaking 1779.25 will halt the expected rise and press on the price to achieve further decline and visit 1755.70 before determining the next destination.

Today's trading range is likely between 1770.00 support and 1805.00 resistance. Good luck!

 

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Gold Daily Outlook - Aug 30, 2022

Gold failed to hold gains and went below 1750, exposing the door for further losses to the 1730 support level, should it remains below 1760.

A clean breach below the five-week-old ascending trend line drives XAU/USD bears to the horizontal range, including various levels marked since mid-July, around $1,715-12.

However, the RSI conditions may test the XAU/USD pair's further drop past $1,712; if not, the $1,700 level may seem like the last line of defense for bulls before marking the yearly bottom near $1,680.

 

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Gold Daily Outlook - September 19, 2022

Gold Technical Outlook

Gold price provided positive trades in previous sessions to test the first key resistance at $1,680 and began to fall by today's open to resumption of the primary bearish trend, structured within the bearish channel that shows up on the chart, backed by stochastic negativity, having to wait to head towards our extended targets that begin at $1,644, followed by $1,630.

As a result, the bearish trend scenario will dominate in future sessions, assuming price stability is below $1,690. Today's trading range is likely to be between $1,645 support and $1,685 resistance.

Today's projected trend: Bearish