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Gold Price Today Analysis March 2017

Gold Price Today Analysis March 2017

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XAUUSD Gold Price Predictions 29th March 2017 (Update)

XAUUSD Gold Price today Update

Gold Price was expected to touch minimum 1263 level before reversal.Price moves up as per expectation and reverses back from 1261 area.The weekly resistance 1267-71 is still valid, but we can see a clear break of rising wedge in 4-hour chart which indicated the bullish might over, and the price could give bearish move for next couple of days.I am sharing my expecting movement and target level in below 4-Hour chart analysis.

4-Hour Gold Price Forecast

We spotted rising wedge in last week, and it predicted that rising wedge could break from its narrow end.The price moves up as per expectations and breaks the support of rising wedge in yesterday session.This break gives us bearish thoughts for minimum target 1245 and 1235 which is also retracement levels.If price break 1235 level in 4-hour chart it may also take bears to the next step at 1225-27.The MACD divergence and increasing of the bearish volume are also favor of selling pressure which brings confidence to our bearish thoughts.

Note: Movement and closing above 1267-71 level in the weekly and daily chart will invalidate this short term bearish views.

Please have a look at 4-Hour Gold Price chart below.

XAUUSD Gold Price 4H Chart
XAUUSD Gold Price 4H Chart

Gold Support & Resistance 29th March

Resistance 1: 1253-55

Resistance 2: 1267-71

Support 1: 1245-46

Support 2: 1235

Support 3: 1227

Wish you good luck and happy trading


Gold Price Today Analysis 27th March 2016

Weekly longer term expected target was 1267-71 which was not met in the previous week.We analyzed and predicted a correction before a new high which did not happen and gold price move up without any significant correction.I am sharing update yellow metal weekly and daily analysis below to share my logical thought about next move.

Weekly Gold Price Forecast

The gold is currently trading near to its weekly resistance level, which is also the trend resistance. The strength figures are 1267-71 levels whereas gold could also resist at 1263  which was previous recent high.Expecting a reversal signal from the 1267-71 area, we will look for the confirmation of reversal from the peak 1267-71 zone.

Alternately: Please keep in mind if gold break and close above the resistance line which is mentioned in a red close in below chart, this will be the signal of bullish contusion, whereas the chances are too low for gold to close above the resistance.

Weekly Gold Price Chart

 

XAUUSD Gold Price Weekly Chart
XAUUSD Gold Price Weekly Chart

Daily Gold Price Predictions

Daily XAUUSD analysis will help us to see the closest overview to get the reversal signal from resistance levels.Gold is in a bullish trend, and little more upward movement is expecting.We will look for reversal signal from 1263 or 1267-71 level which is weekly trend resistance zone mentioned in a chart below.Current gold price is around 1260.

Yellow metal immediate support level is forming at 1245-47 area, which could be our first bearish target after reversal confirmation.

Please have a look at daily chart below to get the trade idea.

Daily Gold Price Chart

XAUUSD Gold Price Daily Chart
XAUUSD Gold Price Daily Chart

Gold Support & Resistance 27th March

Resistance 1: 1263

Resistance 2: 1267-71

Support 1: 1245-46

 

Wish you good luck and happy trading


Gold Price Today Analysis 22nd March 2016

The rising wedge pattern is on the way to move narrowly by respecting its support & resistance levels.We will look close at the support level of rising wedge to get the entry point.We will not take any bearish trade unless XAUUSD breaks its support level of rising wedge.The key is to watch around 1257-61 level or 1265 in the case of extension.If gold breaks the support level without hitting the last resistance 1261, this will also be the confirmation of bearish mode.Please have a look at update 4-hour chart below; I have mentioned possible next movement diagram with target levels after the break confirmation.

I will also update the analysis once gold breaks the support with confirmation.Please visit the blog daily to get the daily gold price predictions.

4-Hour Gold Price Chart

Rising Wedge In Gold 4H Chart
Rising Wedge In Gold 4H Chart

 

Gold Support & Resistance 23rd March

Resistance 1: 1257-61

Support 1: 1241-43

Bearish Target Level 1 : 1235

Bearish Target Level 2: 1225-27

Wish you good luck and happy trading

 


Gold Price Today Analysis 22nd March 2016

XAUUSD Gold Price Predictions

We expected bullish movement after some correction yesterday.The price moves low and bounces from the earliest support.Our minimum expected target was 1245-47 which was hit in yesterday session.I believe gold may give some correction before a new high.Just spotted a rising wedge pattern in hourly chart.As long as XAUUSD is respecting the support levels, we will remain bullish.We will take bearish trade only if price breaks the support level.

Gold 4 Hour Technical Analysis

Spotted possible rising wedge pattern in hourly chart.The beauty of rising wedge is it usually break downside when it becomes narrow.The support or rising wedge mentioned in the graph below.I am expecting a clear fall from the peak level of rising wedge towards the minimum 1225-27 area.Weekly and daily resistance target will remain same 1265-57 area.We will look the support levels to catch the breakout for the bearish move.I have drawn a possible movement diagram below in the chart.Please see and get the trade idea accordingly.

XAUUSD Gold Price Chart

 

Hourly Gold Price Chart 22st March 2017
Hourly Gold Price Chart 22st March 2017

Gold Support & Resistance 16th March

Resistance 1: 1251-53

Resistance 2: 1257-58

Support 1: 1237

Support 2: 1225-27

Wish you good luck and happy trading


Gold Price Today Analysis 21st March 2016

Gold Price Predictions: upward movement expected after small down movement.The gold moves slightly lower but fails to move more down as per expectations and bounce back.The trend is up, and we will look for the bullish opportunities as long as gold is the bullish pattern.I am sharing three different time frame chart analysis below to give my logical thought about next gold price predictions.

Weekly Gold Price Predictions

Engulfing candle closing from the support level provide more confidence to our bullish thoughts in a weekly time frame chart.The yellow metal next minor weekly resistance is at 1245-47 level, and the trend resistance is 1267-71.A small correction was expected before a new bounce, but it did not happen in the yesterday session.”Buying from dips in an uptrend is the key to gain high profit.” we will look for the better price levels to jump in for minimum target 1243-47 and maximum 1267-71. Daily and hourly charts may help us to catch the earliest movement.Please consider the weekly gold chart below to get the overview.

Weekly Gold Price Chart

Weekly Gold Price Chart 21st March
Weekly Gold Price Chart 21st March

Daily Gold Price Predictions

The gold continues in a bullish mode, and the immediate next resistance is at 1245-47 area which could be the watching area for correction.I am expecting a correction in a daily time frame from 1245-47 towards the 1225-26 minimum.Although if gold reverse  back without hitting its next resistance level ,then we will look for bullish entry from 1218-19 level alternately.The longer term bullish target will remain same as long as gold is respecting its support levels.Please have a look at daily time frame gold chart below, I have  draw a possible next movement diagram.

Daily Gold Price Chart

Daily Gold Price Chart 21st March 2017
Daily Gold Price Chart 21st March 2017

Hourly Gold Price Predictions

Hourly chart always gives us the close overview of trend and help us to catch the earliest spot to jump in the rally.Gold is slowly moving upside on an hourly chart.There is no single evidence of reversal from current market price.We will still look for the next resistance level to get the correction idea.Next resistance is at 1245-47 area.And expected correction level is 1226-27 after hitting the resistance level.

Alternately: If gold fail to touch the resistance and move back then we will look for the break of initial hourly support which is at 1229 level. Movement below 1229 will confirm the correction, and it could give us an opportunity to buy gold from the dip around 1218-17.

Note: The Trend is bullish, I have created two possible levels of correction in below chart.

Hourly Gold Price Chart

 

Gold Support & Resistance 16th March

Resistance 1: 1243-45

Resistance 2: 1267-71

Support 1: 1226-27

Support 2: 1217-18

Wish you good luck and happy trading

Mati Ur Rehman

Gold Analyst & Expert @ Dailygoldanalysis.com


Gold Price Today Analysis 16th March 2016

Gold Price Analysis: Little bit more downward movement expected before a new bounce in our previous analysis.Gold move exactly according to the expectation and made a low around 1197 and bounce back.The first target was 1221-23 that met in yesterday session.This move confirms the reversal pattern and gives us more confidence towards our next bull target.Please read the 4-hour time frame analysis below to get the next trade idea.

XAU-USD 4-H Technical Analysis 

After breaking the descending channel in 4-hour time frame chart.Gold was trading above the resistance, and the bounce was expected from the support levels.Yellow metal behaves according to the expectations and bounce from the support level and hit the first bullish target 1221-23.Current gold price is 1222-23, the gold may touch 1229-31 in today session.The medium term daily and a weekly target will remain the same 1245-47 which is also the weekly resistance.Please have a look at 4-hour chart below. I have mentioned possible next movement diagram which will help to get the next trade idea.

4-Hour Gold Price Chart

XAU USD Gold Price Chart 4H 16th March
XAU USD Gold Price Chart 4H 16th March

 

Gold Support & Resistance 16th March

Resistance 1: 1229-31

Resistance 2: 1245-47

Support 1: 1217-18

Support 2: 1207-08

Wish you good luck and happy trading

Mati Ur Rehman

Gold Analyst & Expert @ Dailygoldanalysis.com

 


Gold Price Today Analysis 13th March 2016

 Gold Price Analysis: Gold is in a bearish mode since last two weeks.The bearish weekly target was 1190, Gold price move lower last week and made a low around 1195-96 and bounce back.The target of 1188-90 did not meet, and we are still expecting the more bearish move before a new bounce.We will look for different time frames to get the gold trade idea.I am sharing three different time frame chart below to discuss the watching area and the confirmation area for trend continuation confirmation or bounce back signal.

Weekly Gold Price Analysis

Gold made a new low around 1195 in previous week session.The expected target was 1188-90.There is still enough momentum in yellow metal to give more bearish move towards the weekly support level 1188-90.We will look for the bounce from the support level 1188-90.Bounce may take gold towards 1241-42 ( Trend Resistance )

Alternately: If gold move lower and close below the support level 1188, it will be the earliest signal for the trend continuing and could take gold towards weekly next support around 1155-57 area.

Please have a look at gold price chart below.

 

XAU USD Gold Price Chart Weekly

Daily Gold Price Analysis

The gold is in a bearish mode and forming a couple of reversal candles from the support zone, but the bounce is not confirmed yet.Gold could touch its final target area around 1190-88 before a new high.We will look for the long entry from the support level for daily next bullish target minimum 1221-23 and 1243-45 in extension.1243-45 is also the trend resistance of weekly chart.

Please have a look at daily gold price chart to get the logical trade idea.

 

XAUUSD Chart Daily
XAUUSD Chart Daily

Daily Gold Price Analysis

The hourly chart helps us to get the earliest signal for possible next movement.Gold was trading in a range of descending channel in an hourly chart.We can see a clear break of resistance in the hourly chart today, but it is not the confirm break signal.If gold move higher and break the yesterday high 1210-11, it will confirm the bullish breakout and could take gold towards 1221-23 minimum and 1243-45 maximum.If gold fail to break the resistance and continue follow the falling pattern, then we will look for bullish entry from the next support level 1188-90.

Please have a look at hourly gold price chart to get the logical trade idea.

 

XAU USD Gold Price Chart Hourly
XAU USD Gold Price Chart Hourly

Gold Support & Resistance 

Support 1: 1195

Support 2: 1188

Resistance 1: 1211

Resistance 2: 1223

Resistance 3: 1245

Jan & Feb 2017 Analysis History

Gold Predictions January 2017

Gold Predictions February 2017

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Note: Never risk more than 2% of your account capital in single trade.Always trade with the proper risk management plan.

Feel free to comment below if you have any concern regarding charts and analysis.Your feedback is always welcome and helps us to improve.

Wish you good luck and happy trading

Mati Ur Rehman

Gold Analyst @ Dailygoldanalysis.com

 

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