You are here: Home > articles > Commodities > Forex > Technical analysis for Gold for February 25, 2019
Technical analysis for Gold for February 25, 2019
February 25, 2019 7:24 amVideo
Latest News
- Forecast for GBP/USD on May 7, 2024 May 7, 2024
- Forecast for USD/JPY on May 7, 2024 May 7, 2024
- Technical Analysis of Intraday Price Movement of Gold Commodity Asset, Tuesday May 7, 2024. May 7, 2024
- Technical Analysis of Intraday Price Movement of Crude Oil Commodity Asset, Tuesday May 7, 2024. May 7, 2024
- Outlook for GBP/USD on May 7. A new week, a new rise May 7, 2024
- Outlook for EUR/USD on May 7. The dollar remains depressed May 7, 2024
- The euro will help itself May 7, 2024
- Trading Signals for EUR/USD for May 6-8, 2024: sell below 1.0803 (overbought – 5/8 Murray) May 6, 2024
- Analysis of GBP/USD pair on May 6th. The dollar has not yet recovered from Friday May 6, 2024
- Analysis of EUR/USD pair on May 6th. The dollar continues to be under pressure from statistics May 6, 2024
- Trading Signals for GOLD (XAU/USD) for May 6-8, 2024: buy above $2,302 (21 SMA – 5/8 Murray) May 6, 2024
- EUR/USD. May 6th. Weak payrolls deliver another blow to the dollar’s coffin May 6, 2024
- GBP/USD. May 6th. Bulls continue to attack, but their momentum is fading May 6, 2024
- Weekly forecast based on simplified wave analysis of GBP/USD, AUD/USD, USD/CHF, EUR/JPY, EUR/GBP, and US dollar index on May 6, 2024
- Defensive strategies key as Fed holds rates steady May 6, 2024
- Weekly forecast based on simplified wave analysis of EUR/USD, USD/JPY, GBP/JPY, USD/CAD, NZD/USD, and Gold on May 6th May 6, 2024
- Video market update for May 06, 2024 May 6, 2024
- Technical analysis of GBP/USD for week on May 6-11 May 6, 2024
- Japan to intervene market once again? May 6, 2024
- Forex forecast 05/06/2024: EUR/USD, GBP/USD, USD/JPY and Bitcoin from Sebastian Seliga May 6, 2024
Gold price is trading around $1,330 holding short-term important area of $1,326-30 once resistance now support. Price pulled back for a back test of the break out area and it seems that it was successful as price trades above it.
Purple lines – bullish channel
Blue line -long-term resistance trend line
Gold price remains inside a bullish channel. Medium-term trend remains bullish as long as price is above $1,300. The previous weekly candle had a long upper tail creating a bearish reversal hammer pattern. For this pattern to be confirmed bears will need to see a follow through to last weeks selling pressures. The RSI is at overbought levels and price is also very close to our longer-term target of $1,350. This is the time for longer-term traders to be cautious as a major rejection could take place. Short-term support is at $1,326 and if we see a daily close below it, we should expect a deeper pull back. Holding above $1,326 in the short-term could increase the chances of making a new higher high towards $1,350-60 area.
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: