xauusd forecast

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Freemium: Gold (XAUUSD) & Mentha oil

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free commodity gold (xauusd) tips & daily chart

BEFORE

UPDATE: Gold’s Simplified Trading Strategy

I had written in clear words, “…according to Elliott Wave theory, it was in a corrective wave. It has completed the ABC, and now gold can start marching for a new impulse phase. Therefore, we can expect the gold’s target price 1782 – 1790+“.

AFTER

free commodity gold xauusd chart, tips, & updates

The first target of gold has come. Will it touch the second target?

To read the full article of Gold, Subscribe Now.

free commodity mcx menthaoil tips chart

BEFORE

UPDATE: Will Mentha Oil Touch 960 Level Again?

I had written in bold words, “MCX Mentha oil can bounce here. It can retest the 960. The intraday & short-term investors should enter around the support trendline for the targets of 926 – 936 – 958“.

AFTER

free commodity menthaoil trading tips chart

Today it has touched the first target.

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Gold: These Two Levels Can Change The XAUUSD Trend

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free commodity gold (xauusd) tips & daily chart

Advice For Day Traders:

XAUUSD is not tradable between the range of 1766 to 1745. They are trend changer levels.

Gold’s Simplified Trading Strategy:

According to Elliott Wave theory, it was in a corrective wave. It has completed the ABC, and now gold can start marching for a new impulse phase. Therefore, we can expect the gold’s target price 1782 – 1790+. In simple language, you should wait for the breakout of 1766 or 1745. Because of that’s a crucial level for XAUUSD traders. If gold will break down the 1745 level, then the downtrend will begin. And that downtrend can drag it down up to 1730 – 1706 – 1686. Please note, don’t forget to watch significant releases or events that may affect the movement of gold, silver, and crude oil:Continue reading

FOMC Minutes: A confirmation for an explosive rally in XAUUSD

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free commodity gold chart tips

Gold has started collapsing nonstop after Nonfarm Payrolls data. And it stopped at my ‘tested many times’ level. XAUUSD has recovered 50% almost in the previous week. The gold spot needs to break the 1793.6 level to start an uptrend. Afterward, it will go for 1806 – 1826 levels. And these levels can push the gold price up to 1900. But if gold breaks the strong support again, it will start falling. This time, it won’t stop! Hence, the short-term traders can start selling from there for the targets of 1744 – 1726 – 1684.

MCX Gold Will Have An Explosive Rally This Wednesday

MCX traders should keep their eyes on the 46720 levels. It’s a trend changer. As per XAUUSD, Indian MCX Gold can raise 47500 – 48260 after a breakout of $1793.6. And if it breaks the strong support of Gold Spot, it will keep falling for targets of 46260 – 45860. For advance traders, watch significant releases or events that may affect the movement of gold, silver & crude oil. Especially, don’t forget to watch this Wednesday’s events to find out gold upcoming actions.Continue reading

Part 2: What Drives Gold (XAUUSD) Prices?

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free commodity xauusd gold spot daily chart tips

Previous Article:
XAUUSD (Gold Spot) & MCX Gold Will Skyrocket?

What’s Next:
Key levels: 1793.6 and 1783.6
According to my previous newsletter, my gold key levels will remain the same. It’s not sellable until breakout the 1766 (strong support).

In XAUUSD, buying pressures are increasing. We may see 1812 – 1824 – 1836+ levels.

Alternatively, gold is taking a reversal from the first key level, so its upside rally may be weak. But, day traders can play between my range. And stop buying when it breaks the first key level. That could drag down the gold price directly at the second key level (1783.6).

And gold’s closing price below 1783.6 means blast. It may hit the strong support level directly.

Please note, don’t forget to watch significant releases or events mentioned above in the chart that may affect the movement of gold, silver, and crude oil.

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XAUUSD (Gold Spot) & MCX Gold Will Skyrocket?

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In June, XAUUSD and MCX Gold crash due to FOMC events. It has recovered almost 60% to 70% loss in the July month.

You can read the previous articles of Gold Spot and MCX Gold to catch the next move.
June 27, 2021 – Outlook: Gold downtrend stopped at 46720

I have written, “It’s not sellable until following the above scenario. We can see the gold prices at 48000 – 49000+ in the upcoming days”.
And MCX Gold has completed the first target in the last week.

June 21, 2021 – Will Gold Spot Decline More?

free gold spot (xauusd) daily chart & signals

Weekly outlook of Gold Spot

Gold spot needs to break 1809 levels to retest support of 1793.6 – 1783.6. These support levels will push the gold price higher. Gold isn’t sellable until the breakout of 1766 (strong support).

XAUUSD will touch 1858 – 1898 levels soon.

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Weekly Outlook of Indian MCX Gold

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Will Gold Spot Decline More? (TP 1682.6)

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In-depth analysis: Is it the right time to buy gold?

Gold (XAUUSD) and silver (XAGUSD) has crashed in the previous week. Gold has lost -113.585 points (-6.05%), and silver lost -2.14315 (-7.68%). Millions of CFD’s traders have lost money in that week.

Where’s gold’s bottom?

According to technical analysis and fundamentals research, gold can decline more. Gold has broken the strong support trendline (01) and marching for 02. If it doesn’t close above to trendline of 01 in the first two trading sessions, it will be unstoppable through high selling pressure by speculators. And we will see the target price 2.

Technically, the most popular indicators are indicating a complete downtrend. And Stoch RSI is signaling for a reversal. So, it can pull back up to a retracement level of 38.2% or 01 trendlines. If that not happen, gold can lose 81.635 points more.

In the previous week, gold and silver were falls due to economic events and high selling pressures by speculators. For advance traders, watch significant releases or events that may affect the movement of gold, silver & crude oil.

Tuesday, Jun 22, 2021
00:30 – FOMC Member Williams Speaks
01:00 – All CFTC Speculative net positions
11:00 – Gold Index
20:30 – FOMC Member Daily Speaks
23:30 – Fed Chair Powell Testifies

Wednesday, Jun 23, 2021
02:00 – API Weekly Crude Oil Stock
18:30 – FOMC Member Bowman Speaks
19:15 – Flash Manufacturing PMI | Flash Services PMI
20:00 – Crude Oil Inventories
20:30 – FOMC Member Basic Speaks

Thursday, Jun 24, 2021
18:00 – Final GDP q/q | Initial Jobless Claims

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