Gold XAU/USD ($1.4K is Support & $.145K is Resistant)

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View On Gold XAU/USD (27 July 2019)

We will be having the FED item in the coming week and it is very likely that a 25bps rate cute is a given.

There are 2 major regions that I want you to take note.


Support: I am expecting $1,395 to $1,400 region to act as very good support. We can't be firm on the major pullback until the previously mentioned support is broken strongly.


Resistant: I am expecting $1,425 to $1,430 region to act as a very good resistant. The gold price shall not pass the region easily. Upon the rate announcement, the price may make a quick swing up above $1,450 just to have a pullback down in the near term.


DYODD, all the best and read the disclaimer too.
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Updated View On Gold XAU/USD (31 July 2019)

Today is the day that we needa sing "Final Countdown" By Europe.

The whole market is literally waiting for the FED rate decision tonight.

If the FED cut any small basis point (or) keep the same rate, it shall trigger the sell down toward at least $1,400.

If the FED cut aggressively, Gold can rise to $1,450 or even further while USD drops.

Let's see.

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ملاحظة

Updated View On Gold XAU/USD (1 Aug 2019)

It ran down to $1,400 TP level as we expected. Well almost.
This is one of the possibilities that we expected.
"If the FED cut any small basis point (or) keep the same rate, it shall trigger the sell down toward at least $1,400. "

I expect $1,400 shall give decent support.
So, it is kind of late to short and too early to long.

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ملاحظة

Expected $1,400 level is hit.

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ملاحظة

Update View On Gold XAU/USD (2 Aug 2019)

Yesterday was the day that kills intraday 'followers'.

Still wanna trade intraday purely based on PA and indicators?
It is better to do charity outside.

It retested $1,400 support (that we mentioned) and rebound strongly upward, trapping a lot of shorts in the process.

Now, it may climb up higher near $1,450 to eat the shorts' Stoplosses but that region will be defended strongly.