Thursday 4th May 2023: Technical Outlook and Review
Gold (XAU/USD) is currently showing bullish momentum as the price is in an ascending channel. However, in the short term, the price may drop further to the 1st support level before bouncing back and heading towards the 1st resistance.
Wednesday 3rd May 2023: Technical Outlook and Review
The DXY chart is currently showing strong bearish momentum with high confidence, triggered by a break below an ascending support line. The price is expected to potentially continue its bearish trend towards the 1st support level at 101.24, which is a multi-swing low support level.
Tuesday 2nd May 2023: Technical Outlook and Review
The DXY chart is currently experiencing a bearish momentum. The price is below a major descending trend line, suggesting that bearish momentum is on the cards. Additionally, the price is testing a descending trend line which acts as resistance.
Friday 28th April 2023: Technical Outlook and Review
The DXY chart is currently experiencing a bearish momentum. The price is below a major descending trend line, suggesting that bearish momentum is on the cards. Additionally, the price is testing a descending trend line which acts as resistance.
Thursday 27th April 2023: Technical Outlook and Review
XAU/USD has been showing strong bullish momentum on the chart, suggesting that prices might continue to rise further. At present, the overall momentum of the chart is bullish. Price is currently fluctuating between the 1st support level at 1983.30 and the 1st resistance level at 2010.11. However, price could potentially make a bullish continuation towards the 1st resistance level.
Wednesday 26th April 2023 : Technical Outlook and Review
The XAU/USD price has a weak bearish momentum with low confidence, and it could potentially make a bearish continuation towards the first support level before bouncing back up towards the first resistance level.
Monday 24th April 2023 : Technical Outlook and Review
DXY: The DXY chart is currently exhibiting a neutral momentum, indicating […]
Friday 21th April 2023 : Technical Outlook and Review
The 1st support level for DXY is at 101.51, which is an overlap support and also lines up with the 38.2% Fibonacci retracement level. This level has proven to be a strong support in the past. If the price were to drop from the current level, it could potentially reach this support level.
Thursday 20th April 2023: Technical Outlook and Review
Gold (XAU/USD) continues to show a bearish momentum on the chart. Currently, the price is expected to break below the 1st support level and drop towards the 2nd support level. The 1st support level is at 1982.58, which is a good level because it is an overlap support.
