XAUUSD Bearish scenario
XAUUSD
Bearish scenario
XAUUSD
Bearish scenario
The gold is now in a key zone between two strong levels – $1880 resistance and $1850 support. The asset is consolidating here for almost three days now. It is also yet too far from the 9 EMA which for some market participants could be take as a short play in regard of returning to the mean strategy.
The key trigger point for short sellers will be if the price breach the support level of $1850 and start trading there for at least day or two. The first target for the bears should be $1800 round number.
Bullish scenario
The price is in an uptrend in the last two years or so. A break above the 1880 level and close above it will be most likely taken as a buying opportunity for the gold bucks and trend traders.
Fundamentals:
Couple of things to consider in regards of what is moving the price of gold currently:
1. The positive news around the vaccine would make a lot of the big guys to cash out their gold positions the get in in the stock market looking for value and underestimated companies.
2. Gold yearly return is approximately 22% which is higher than the average. This in combination with the above stated forming strong sell bias for within the next 3 – 4 months.
3. The printing money is keeping going even with the new president administration which is clearly a bull fact for gold.
Bearish scenario
XAUUSD
Bearish scenario
The gold is now in a key zone between two strong levels – $1880 resistance and $1850 support. The asset is consolidating here for almost three days now. It is also yet too far from the 9 EMA which for some market participants could be take as a short play in regard of returning to the mean strategy.
The key trigger point for short sellers will be if the price breach the support level of $1850 and start trading there for at least day or two. The first target for the bears should be $1800 round number.
Bullish scenario
The price is in an uptrend in the last two years or so. A break above the 1880 level and close above it will be most likely taken as a buying opportunity for the gold bucks and trend traders.
Fundamentals:
Couple of things to consider in regards of what is moving the price of gold currently:
1. The positive news around the vaccine would make a lot of the big guys to cash out their gold positions the get in in the stock market looking for value and underestimated companies.
2. Gold yearly return is approximately 22% which is higher than the average. This in combination with the above stated forming strong sell bias for within the next 3 – 4 months.
3. The printing money is keeping going even with the new president administration which is clearly a bull fact for gold.
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