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Saturday, June 12, 2021

๐Ÿ’กGOLD (XAUUSD) - Weekly Technical Analysis Update

๐Ÿ’กGOLD (XAUUSD) - Weekly Technical Analysis Update



Midterm forecast:

1762.55 is a major support, while this level is not broken, the Midterm wave will be uptrend.
We will close our open trades, if the Midterm level 1762.55 is broken.


Technical analysis:

A peak is formed in daily chart at 1916.50 on 06/ 01 /2021, so more losses to support(s) 1875.15, 1848.50, 1828.25 and minimum to Major Support (1762.55) is expected.
Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
Relative strength index ( RSI ) is 53.

Take Profits:

1762.55
1828.25
1875.15
1959.30
2075. 05




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