XAUUSD Gold Price forecast and trading - Forex Trading Today
The market is very busy to determine direction. Perhaps, the market is likely to move as I expected.
Gold: Gold has been near the support line of $ 1269.5. I do not know if XAUUSD will stop dropping here. In my view, the support line is not strong. Gold prices are likely to fall a little more. They will try to test $ 1269.5 line unconditionally. The support line below is $ 1250. The resistance line is $ 1288.46.
Silver is staying on the support line of $ 14.95. The support line is not strong. XAGUSD is likely to fall further. They will drop at least to $ 14.68. The resistance line is $ 15.16. If silver prices soar, it would be an opportunity to sell. I will hold the sell-position.
[Gold price daily chart, XAUUSD]
WTI: There is no change in the crude oil market. Crude oil prices are moving as I expected. WTI will rise to $ 70.5, and Brent oil will rise to $ 97.1. The situation in the crude oil market will become even worse.
Euro: The euro is in a downward trend. EURUSD is stuck between 1.1173 and 1.133. I do not know when EURUSD will get out of that range. The resistance line is 1.1280. Support lines are 1.1173 and 1.1084. It would be better to find an opportunity to sell EURUSD.
Gold: Gold has been near the support line of $ 1269.5. I do not know if XAUUSD will stop dropping here. In my view, the support line is not strong. Gold prices are likely to fall a little more. They will try to test $ 1269.5 line unconditionally. The support line below is $ 1250. The resistance line is $ 1288.46.
Silver is staying on the support line of $ 14.95. The support line is not strong. XAGUSD is likely to fall further. They will drop at least to $ 14.68. The resistance line is $ 15.16. If silver prices soar, it would be an opportunity to sell. I will hold the sell-position.
[Gold price daily chart, XAUUSD]
WTI: There is no change in the crude oil market. Crude oil prices are moving as I expected. WTI will rise to $ 70.5, and Brent oil will rise to $ 97.1. The situation in the crude oil market will become even worse.
Euro: The euro is in a downward trend. EURUSD is stuck between 1.1173 and 1.133. I do not know when EURUSD will get out of that range. The resistance line is 1.1280. Support lines are 1.1173 and 1.1084. It would be better to find an opportunity to sell EURUSD.