The Hourly View for Gold
- At the moment, XAUUSD’s price is up $3.8 (0.22%) from the hour prior.
- This move is a reversal from the hour prior, which saw price move down.
- As for the trend on the hourly timeframe, we see the clearest trend on the 100 hour timeframe.
- Most noteworthy in the world of moving averages on the hourly chart is that the 20 hour moving average has been crossed, with price now being above it. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.
Gold’s hourly price chart is shown below.
Below is a daily price chart of Gold.
Featured Gold Idea From TradingView
Below is a trading comment entitled Gold is Technically Bullish, Fundamentally Bearish you may find interesting:
Technical analysis: Bond notes panic continues as Investors (as usual) use Gold as a Safe-haven, and same fractal was seen within #2 last sessions on almost #45 point miraculous recovery Gold was Trading under. Final Resistance of #1,727.80 got compromised and if Gold closes today’s session above it, it is sign of Bullish continuation, if not, everything is ready for Bearish sequence which I will be ready to utilize to it’s maximum. Personally, with RSI on Annual Resistance and Bond notes Neutral (but should rise on such NFP reading and Bullish sentiment for both DX and Bond notes) I doubt that Gold will rise more. Friday’s Gap is filled, Daily chart got the necessary Technical correction as I should be seeing a continuation of the downtrend back towards the Support Trading at #1,722.80 (what was Support when broken becomes Resistance and vice-versa). That would be o…