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Xauusdforex

XAUUSD : Gold is plunging, will it return to 2300?Gold prices have formed a "Bullish Harami" pattern, but unfortunately cannot maintain the upward momentum and are currently struggling around the $2,400 mark. If it closes below this mark, gold prices will likely continue to decline. The RSI indicator is in the 40.0-60.0 zone and moving sideways, showing a balance between buying and selling power. If gold prices can return and surpass $2,430, the next target will be $2,450, followed by the historical peak of $2,483 and the psychological threshold of $2,500. On the contrary, the gold price continuing to adjust below USD 2,384 may open up deeper declines. The next support levels are SMA 50 at $2,359 and SMA 100 at $2,315, respectively.
OANDA:XAUUSD
by SantaTradeGold
Gold directed to the support. Will it hold up this time?Gold is forming a head and shoulders, and looks like it is headed towards the $2,290 support, will it bounce off it and get back up this time? If it completes the structure we could see it pierce the support, and in that case having many areas to fill at the bottom, it could go down a lot. In trading everything will be filled, there are many areas still open, please be careful to open long on the $2,290 support, check before the price rebounds solidly.
OANDA:XAUUSDShort
by jamesbond70