FX.co ★ XAU/USD, GOLD

GOLD FUNDAMENTAL AND TECHNICAL ANALYSIS Chart Overview & Price Action The chart shows gold trading around the current price marked by the red line (2071.10). The price action is forming a bullish move with the blue line acting as a dynamic support (likely a moving average). The yellow box highlights a key price point, possibly a support or resistance zone. Support & Resistance Analysis 1. *Resistance*: The immediate resistance lies at 2080‑2085, marked by the recent high. A break above this level could trigger a move to 2100. 2. *Support*: The blue moving average (~2065) is acting as dynamic support. If price drops below this, the next support is around 2050. 3. *Order Blocks*: The bullish candles near 2060 form a support block where buyers likely stepped in. This zone (2055‑2065) is a good area for long entries if price pulls back. Volume Indicator The volume pane shows moderate activity with spikes aligning with price moves. The latest volume is average, suggesting the market is in a wait‑and‑see mode. A surge in volume with a breakout above 2080 or below 2060 would confirm the direction. RSI (Relative Strength Index) The RSI(14) is at 55.12, hovering above the neutral line. This suggests the market is leaning bullish but not yet overbought. If RSI climbs above 70, it’d signal potential exhaustion; below 30 would hint at oversold conditions. MACD (Moving Average Convergence Divergence) The MACD line is above the signal line, showing bullish momentum. When the MACD line crosses below the signal line, it would signal a bearish shift. Market Prediction Based on the setup: *Bullish scenario*: If price breaks 2080 with rising volume, target 2100‑2120. *Bearish scenario*: If price drops below 2060 support, expect a move to 2050 or lower. Risk Management & Money Management 1. *Position sizing*: Risk no more than 1–2% of your account per trade. For a $10,000 account, risk $100–$200. 2. *Stop‑loss placement*: Set stops below support (2055 for longs) or above resistance (2085 for shorts). 3. *Take‑profit targets*: Aim for the next resistance (2100) or support (2050). 4. *Risk‑reward ratio*: Target at least 1:2 (risk 10 pips, aim for 20 pips profit).

Fundamental Angle Gold is influenced by: *Global economic uncertainty* (inflation, geopolitical tensions). *US dollar strength/weakness* (DXY index). *Central bank policies* (Fed, ECB). Keep an eye on news that could swing gold prices abruptly. Trading Plan Example 1. *Entry*: Long on break above 2080 with volume spike. 2. *Stop*: 2055 (below support). 3. *Target*: 2100. 4. *Monitor*: RSI & volume for signs of reversal. Adjust stops to lock profits. Final Tips Combine support/resistance with volume and RSI for higher‑probability trades. Always set stops and respect your risk limits – money management keeps you in the game. Watch for false breakouts; confirm with volume and RSI before chasing moves.