Gold Trading Price

January 2017 Full Month Analysis History ( Gold Trading Price Analysis ) 

Gold Price Today | Gold Predictions | January 2017

Gold Price Forecast (Gold Trading Price Chart Update)

All Targets has been hit as per the February predictions.New Analysis and updates for the month of march

Go Through The Link Below For Gold Analysis March 2017

XAU USD Forex Trading MARCH 2017

Hourly Gold Trading Price Update ( All Targets Has Been Hit )

Hourly  Gold Trading Price Chart Update

Hourly  Gold Trading Price Chart

Gold Price Forecast 28th Feb 2017

Overview ( Gold Trading Price )




We expected a bearish move minimum 1219 level in our previous analysis, Gold move lower but fail to break the support and bounce early around 1226.The first minimum bullish target was 1249-51 which was met in the previous week. The trend is still bullish, and we are expecting the little bit more bullish move this week to complete the bullish rally around 1271-75 zone.1271-75 is also the weekly and daily resistance and the watching area for sellers. I am sharing weekly, daily and hourly views to give my logical thoughts about next gold movement.

Weekly Gold Predictions

We expected correction previous week, but it did not happen. Gold move higher and break its first resistance at 1249-51. Break and weekly closing above the resistance indicating more bullish move towards weekly resistance at 1271-75 level. Yellow metal watching area for sellers is at 1271-75 zone. We will look for sell entry from the resistance if we found any reversal pattern confirmation in daily and hourly charts. Please have a look at the weekly gold chart below.

Weekly Gold Chart

Daily Gold Prediction

Gold is continuously respecting its support levels and bounced from every psychological support gives us bullish thoughts. As long as gold is trading above the support level, we will remain bullish.

After breaking the daily resistance 1249-51, gold is trading above the resistance level. Current gold trading price is 1259-60.The next trend resistance is forming at 1271-75 level spotted in weekly and daily charts. We will look for the reversal pattern from 1271-75 zone.

Alternately if gold move lower and break the support 1249-51 in a daily candlestick chart, it will be the earliest confirmation of correction, which could give us an opportunity to buy gold from better price around 1240-41 and 1219 in a case of correction extension.

Daily Gold Chart

 

Hourly Gold Predictions

I love to share hourly charts because it gives us earliest signal and entry level confirmations.

Gold is trading in a rising channel formation in an hourly chart. The next minimum support is 1241-43 area and resistance is forming at 1271-75 zone. We will look for the bullish entry from the support zone towards next high at 1271-75 level. Please have a look at hourly chart below; I have created possible next movement diagram in it,

Hourly Gold Chart

Support & Resistance levels

Weekly Resistance: 1271-75

Weekly Support: 1201-03

Daily Resistance: 1271-75

Daily Support: 1219-21

Hourly Resistance: 1271-75

Hourly Support: 1241-43

Note:  I will update the analysis report depend on the hourly chart confirmation patterns.

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Gold Price Forecast 20th Feb 2017

XAU USD, Weekly, Daily, 4 Hour Overview

The bounce was expected from the price 1215-16 in our previous forecast.Gold move exactly as per the expectations and bounce from 1216 towards 1243 but fail to break the resistance of 1243-45.Current gold trading price is 1235.

Rejection twice from the resistance indicating a confusion between bulls and bears.I am sharing my technical thoughts in 3 different time frame charts below.

Weekly Overview 

Weekly closing looks like “Doji” which is one of the earliest signals of reversal.Gold could move lower to retest weekly support before a new high. The minimum correction level is 1219-21 and maximum at 1201.Movement below 1230 will give more confidence. The overall trend is still bullish, and longer term gold target is 1271-75 which is also the weekly trend resistance.

Alternately: if gold fail to give reversal, move higher and close above 1249-51 in a weekly candle. This will be the confirmation of trend continuation and could take gold directly towards 1271-75 area.

Weekly Gold Chart

Daily Gold over View 

The double top at resistance level was indicating the bearish move for next couple of days.Today closing below 1230 will confirm the bearish thoughts.The minimum target could 1219-21 and maximum 1201-1197 as per the daily support levels.The overall daily trend is still bullish, and out longer term target will remain the same 1271-75.We will look for the best prices to jump in for the expected bullish rally.Please have a look at the daily chart below to get the trade idea.

Daily Gold Chart

4 Hour Overview

The yellow metal in 4-hour chart forming a double top pattern.The best way to confirm the double top pattern is to wait for the break off bottom line.The minimum support is at 1231.Movement and closing below 1230-31 i n 4-hour time frame will give confidence for short-term bearish thoughts.The next bearish target could be  1219-21 and 1201  in the case of extension.

Alternately if gold move high and break the resistance of double top, it will be the earliest indication to change the short-term bearish thoughts.

4-Hour Gold Chart

 

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Gold Price Forecast 15th Feb 2017

Gold 4-Hour Update Technical Overview

 

The correction in a bullish trend is still on the way. Our first minimum target was 1219 which was hit yesterday as per the predictions.

I believe the gold correction is not over; Gold could make another dip before a new bullish rally. According to 4-hour chart, the yellow metal is moving in a small symmetric triangle range between 1233 to 1219 area. Current market price is 1225. The movement below 1219 could take gold towards new low at 1213-15 and 1201-03 in the case of extension.

The overall weekly and daily trend is bullish, and longer term expected target is 1249-51 and 1271-75.

 

Note: The movement and closing above 1236 will invalidate the short term bearish thoughts which I already mentioned in the chart below.

4-Hour Gold Update Chart

Support & Resistance

Hourly Resistance: 1230-31

Hourly Support 1: 1219

Hourly Support 2: 1215

Hourly Support 3: 1201

Gold Price Forecast 13th Feb 2017

The correction has to be started in gold after breaking the rising channel support on an hourly chart.It is expecting gold may move lower to touch its weekly and daily support before a  new bounce.Overall the trend is still bullish but it XAUUSD may hit the low before new a high.I am sharing three different time frame chart analysis below to share my thoughts regarding next gold movement.

Weekly Gold Price Forecast 

Gold is trading with a bullish pattern in a weekly chart; our minimum target was 1249-51, gold hit 1245 level in previous week session and reverse back.The trend is still bullish, and there is still enough momentum in gold to achieve next target possible at 1271-75.We believe gold may give correction before a new bounce.The correction may touch the minimum level 1211 and maximum 1197-1201.If gold moves up without correction and closes above the previous high 1245-46 in a weekly chart.It will invalidate the short  term correction signals and may take gold directly towards 1271-75.Please have a look at the weekly gold chart below; I have mentioned possible next movement diagram.

Weekly Gold Chart

Daily Gold Price Forecast 

A couple of reversal candles in a daily gold chart indicating a correction.we are expecting gold may touch its minimum low to complete the correction.Minimum support is forming at 1215 and maximum 1197-1201.We will look for the bounce from these areas.The longer term trend is still bullish, The next daily target after completing this correction mat 1249-51 and 1271-75 in the case of trend extension.Please have a look at the daily gold chart below to get the trade idea.

4 Hour Gold Price Forecast

The 4-hour chart helps us predict and spot earliest pattern to jump in the trend.The overall trend is bullish but the pattern break and lower high movement indicating the short term bearish movement.We have to look for the bounce from the support level.The minor support levels are 1219, 1211 and 1197-1201.We will look for the bullish entry after confirmation of bounce from one of these levels.The gold possible next bullish target is at 1249-51.I suggest you wait for the completing of correction and jump in the market after the confirmation of bounce using a 4-hour chart.Please have a look at 4-hour below; I have mentioned possible bounce areas.

Support & Resistance

Hourly Resistance: 1236

Hourly Resistance 1: 1245

Hourly Support 1: 1219

Hourly Support 2: 1211

Hourly Support 3: 1197-1201

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Gold Price Forecast 10th Feb 2017

The bounce expected from the support of rising channel, but it did not happen, Gold break the channel support in an hourly chart and trading below the support area. As per technical rule, the support becomes resistance when it breaks. The short-term correction has started; the minimum target for this correction could be 1211-12
minor support area and 1201-03 in extension. Gold may retest its resistance (broken support) before a new low which will be the best area to jump in for the bearish move.

The overall weekly trend is still bullish, expecting a bounce when the correction is ending. The best watching area for the bounce is 1211 and 1201.

Alternately: If gold moves up without completing its correction and close above the resistance, It will consider a false break and may take gold towards 1249-51 which is the weekly strength and minimum bullish target area.

Hourly Gold Chart

Support & Resistance

Hourly Resistance: 1230-31

Hourly Support 1: 1219

Hourly Support 2: 1211

Hourly Support 3: 1201-03

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Gold Price Forecast 7th Feb 2017

Bullish Rally in XAUUSD as per 1-Hour & 4-Hour Technical Charts

Gold is on the way to complete its bullish target predicted in the previous analysis. Gold move lower in Friday session and bounce from the first support 1207 towards the new high. Break of resistance today at 1224-25 gives more confidence to remain in bullish trend. Current market price is 1235-36.

The metal is moving in a higher high and lower high direction in an hourly chart. Price may start some correction from here towards the 1224-25 which is the support of rising channel and also the broken resistance of 4-hour chart. The next target after completing the correction could be 1249-51 (Weekly Resistance). I am sharing 4-hour and 1-hour timeframe chart below to help traders getting trade idea.

4-Hour Gold Chart

1-Hour Gold Chart

Hourly Support & Resistance

Resistance: 1249-51

Support: 1223-25

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Gold Price Forecast 3rd Feb 2017

We expected bearish move after the break of falling wedge in yesterday analysis and our minimum target was 1195.Gold move lower but fail to touch its minimum target and bounce back towards the next resistance area at 1221-22.Gold made high around 1223-25 but close below the resistance in today session.The Clear triple top pattern in 4-hour chart is indicating the bearish move today.Current gold trading price is around 1214-15, and the next support in 4-hour chart is at 1201-03.My suggestion is to stay neutral in the market today.If gold move down and break the support 1201-03 then it will be the bearish signal towards 1180-83 area.If gold bounce from the support and break yesterday high, then most probably we will see gold at 1237 and 1249-51 in extension in next couple of days.Today is weekly closing, and we may get the clear overview after weekly closing.Please have a look at 4-hour chart below.I have mentioned possible next movement diagram for the trade idea.

 

Gold Support & Resistance levels

Hourly Resistance 1223-25

Hourly Support 1201-03

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Gold Price Forecast 1st Feb 2017

The Falling Wedge which was spotted at hourly chart yesterday finally breaks the support at today session. It gives confidence for sellers to remain in bearish thoughts.Gold trading price in current market price is at 1204-05.

Gold next minor physiological support is at 1201-02 which is also the watching area. Movement below 1201 could take gold towards minimum 1194-95 and maximum 1181-83 level.

 

As per the technical rules “Support become resistance when it breaks.” If gold bounce from 1201-03, then it may retest the resistance of broken wedge around 1209-11

 

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

Gold Support & Resistance levels

Hourly Resistance 1209-11

Hourly Support 1201-03

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Gold Price Forecast 30th Jan 2017

In our yesterday Gold Price Forecast analysis, It was expected a bounce towards the resistance 1199-1201 area.Gold move exactly according to the expectation, hit the resistance level and forming a reversal candles on the hourly chart.Currently, the gold trading price is at 1196-97.This area is the watching zone, and we will still look and wait for the confirmation of reversal pattern.Today I am sharing 4 hours and 1-hour chart to get the better trade idea.Possible rising wedge is forming at 1 -hour chart which may take the little gold bit higher towards 1203-07 area.The break of support in falling wedge will give confirmation for the bearish move with minimum target 1181-83.Maximum target levels are 1171-73 and 1155-59 in extension.Our weekly and daily targets are same as per our previous predictions were written below.

Please go through the 4-hour and hourly charts below.I have drawn a possible next movement diagram.Please jump in bearish trade after the break of support line in the hourly chart.

4-Hour Gold Technical Chart

1-Hour Gold Technical Chart

 

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Gold Price Forecast 30th Jan 2017

In our last Gold Price Forecast analysis, We were expecting a small bounce in hourly gold trading price analysis.The Yellow Metal moves exactly according to the expectation and jump from 1181-83 and close around 1190 in a weekly chart.We are expecting a little bit more upward movement to complete the correction, and it may reverse back from immediate resistance 1199-1201.I am sharing three different time frame chart analysis to get the better trade idea.Please go through the gold trading price analysis written below.

 

Weekly Gold Price Forecast 

After a bounce from the descending channel support area, It was expected gold might give reversal signal from the first resistance level.This is what happened in gold; we got a reversal candle in the previous weekly closing.Red bearish candle in a weekly chart is indicating a bearish move this week.XAUUSD next bearish target could be 1171-73 and 1155-59 in extension. 1155-59 area is the weekly support zone.We will look for the bounce from this level towards new bullish rally possible 1149-51.

Alternately:  if gold fail to give bearish move and close above 1221-22 area in a weekly time frame chart.This will be the earliest indication of trend change which leads us to change our thoughts from bearish to bullish.Please have a look at a weekly gold chart below.I have drawn a possible next movement diagram with logical analysis.

Gold Weekly Chart

Daily Gold Price Forecast 

Yellow metal bounced from the support zone and closed below the resistance level in a daily candle previous day.A small hammer in a daily chart was indicating little bit more bullish move before a new low.We are expecting gold could touch its resistance zone at 1199-1201 in a daily time frame and then it may give a clear reversal pattern towards new low at 1171-73 minimum and 1155-59 in extension.Movement below 1180 will give more confidence for bearish thoughts.

Note: If gold fail to move lower, break the resistance and close above 1205 in a daily candle.This will invalidate our bearish thoughts and may take gold towards 1249-51.

Please have a look at a daily gold chart below.I have drawn possible next movement diagram with invalidation zone.

Daily Gold Chart

4-Hour Gold Price Forecast

We love to share 4-hour chart because it helps us to spot the trend earliest.Gold trading price at the current level is 1189-90.A couple of bullish candles is indicating a more bullish move on an hourly chart.The volume is also in favoring of small bullish move which may end around 1199-1201 area.

1199-1201 is the immediate resistance area in hourly chart.We will look for the confirmation of reversal pattern from resistance 1199-1201.My suggestion is to wait for confirmation of reversal from the resistance zone which I already mentioned in a 4-hour chart below.Gold minimum bearish target after the reversal is at 1171-73 and 1155-59  in extension.

If gold move high, break and close above the resistance at 1205 in 4-hour chart.This will invalidate our bearish thought, and we will look for the buy trade from the broken resistance area towards new high however the chances are low.

4-Hour Gold Chart

Support & Resistance ( Gold Trading Price ) 

Weekly  Support: 1171-73

Weekly Resistance: 1249-51

Daily  Support: 1180-81

Daily Resistance: 1199-1201

Hourly Support: 1180-81

Hourly Resistance: 1199-1201

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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