Gold’s Hot Streak: Up 4 of the Past 5 Days

The Hourly View for Gold

  • Currently, XAUUSD’s price is down $-0.9 (-0.05%) from the hour prior.
  • The hourly chart shows that Gold has seen 2 straight down hours.
  • As for the trend on the hourly timeframe, we see the clearest trend on the 20 hour timeframe.
  • 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.

XAUUSD

The Daily View for Gold

  • Currently, XAUUSD’s price is up $10.13 (0.56%) from the day prior.
  • Gold has seen its price go up 4 out of the past 5 days, thus creating some compelling opportunities for bulls.
  • If you’re a trend trader, consider that the strongest clear trend on the daily chart exists on the 50 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.

XAUUSD

Featured Gold Idea From TradingView

Below is a trading comment entitled gold idea you may find interesting:

well fundamentally gold is super bullish , don’t call it bearish unless gold breaks down 1770.( buyers are just grabbing liquidity )the gold bullish structure is well respected ( higher highs ,higher lows ) as long as this structure is on gold is always bearish .now you must question your self what are the gold movement scenarios? well let me help you answer this:first of all the keys levels that you need to watch are 1830 (real important level) , 1820, 1812 and the highest level 1845if gold remains above 1820 there is a chance a push to 1830 ( to our important key ).if gold fail and breaks down 1820 there is a good chance of a pullback to 1812 and if broken a second pullback to 1803/1800 levels.breaking through 1830 will give the buyers…

Gol-DTrader