The Hourly View for Gold
- Currently, XAUUSD’s price is down $-0.5 (-0.03%) from the hour prior.
- This is a reversal of the price action on the previous hour, in which price moved up.
- If you’re a trader with a preference for rangebound markets, you may wish to note that there isn’t a clear trend on the 20, 50 and 100 hour timeframes.
- 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.
The Daily View for Gold
- Currently, XAUUSD’s price is down $-3.46 (-0.19%) from the day prior.
- It’s been a feast for bears operating on the daily timeframe, as Gold has now gone down 8 of the past 10 days.
- As for the trend on the daily timeframe, we see the clearest trend on the 100 day timeframe.
- The moving averages on the daily 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.
Below is a daily price chart of Gold.
Featured Gold Idea From TradingView
Below is a trading comment entitled Gold’s Short long smile you may find interesting:
OK so everybody talking about prediction and how the market will react regards to News and many other elements.Here we are in safe traders,We are just analyze moments that somehow more than 80% predictable.What is obvious here is the gold is In down trend, But every down trend has some small uptrends inside and it.This is one of those moments that the gold will see 1800 almost 90%.By wherever below it. Sl : 1777Tp1: 1800Tp2: 1828Wish you a very safe trade.(Risk disclosure)Trading foreign exchange carries a high level of risk and may not be suitable for all investors/traders. Past performance is not indicative of future results. The high degree of leverage can work against you as …