Gold Forecast: XAU/USD is taking a nap

XAUUSD 12th May, 2015

Gold (currently at: 1192 level) is still moving slowly within the sideline range. Our current resistance is around 1235 level and our near support is around 1169. I am still convinced that we should buy gold. I might drop the probability that gold will be cheaper or get close to 1100 level before it goes up but, my expectation are not that solid this time so, you gotta expect a fall before going up.

Buying gold in this area seems to be a little bit tempting so, you can do it wisely with caution, putting in mind that uncertainty is still blurring the trend

The GOLD (XAU/USD) has the following major resistance and support levels:

  • RESISTANCE: 1235
  • SUPPORT: 1076

Breaking these levels in any direction will take us higher or lower.

My Daily BUY/SELL advice (30 pips stop loss applied):

  • Sell: at 1210 – Take profit 1160 (50 pips profits)
  • Buy: at 1180 – Take profit 1220 (40 pips profits)
  • Buy: at 1160 – Take Profit 1200 (40 pips profits)
  • Buy: at 1080 – Take Profit 1180 (100 pips profits)

This review is valid during trading week: 12th-15th April, 2015

GOLD forecast: Selling pressure & bulls are waiting to hunt!

GOLD 30th March 2015

Gold (currently at: 1183 level) after taking a direct run from 1128 to 1220 during the second half of March, 2015 as I previously expected. The 1220 level was a strong resistance to stop this run from moving up to the next level.

I still prefer the long positions for the gold, wait for the gold to fall sharply this time, with the nonfarm payroll next week, you should not buy GOLD early without a clear support.

The GOLD (XAU/USD) has the following major resistance and support levels:

  • RESISTANCE: 1220
  • SUPPORT: 1076

Breaking these levels in any direction will take us higher or lower.

My Daily BUY/SELL advice (50 pips stop loss applied):

  • Sell: at 1180 – Take profit 1100 (80 pips profits)
  • Buy: at 1080 – Take Profit 1180 (100 pips profits)
  • Buy: at 1010 – Take Profit 1160 (150 pips profits)

This review is valid during trading week(s): 30th, March-3rd April, 2015

Gold Forecast: Gold’s uptrend is coming by the end of March?

Gold Forecast

Gold, the charming metal had a long down trend from the second half of year 2011, lasted years: 2012, 2013. Year 2014 was a supportive year for the precious metal with few dips. Currently, the 1128 level is the closest support for the gold buyers at the moment. However, I think that this minor support might be broken because of the strong dollar to test this important support 1076. On a break to 1076 level, we must wait for a while before entering the market again, the GOLD will be dangerous to trade on a break to 1076 level

I prefer the long positions for the gold. Pick the right point to enter and I prefer to wait for the gold to fall before going long. It will make some squeeze down before trying to test our short term resistance.

The GOLD (XAU/USD) has the following major resistance and support levels:

  • RESISTANCE: 1174
  • SUPPORT: 1076

Breaking these levels in any direction will take us higher or lower.

My Daily BUY/SELL advice (30 pips stop loss applied):

  • Sell: at 1076 – Take profit 1050 (26 pips profits)
  • Sell: at 1150 – Take profit 1100 (50 pips profits)
  • Buy: at 1080 – Take Profit 1180 (100 pips profits)

This review is valid during trading week(s): 12th-20th March, 2015