XAUUSD Technical Analysis

I see the current price will chase the basic support level at the price level of 1310.03 as the next target profit level after the basic support above where the price level of 1317.80 has been broken. After the price touches the base support level, there is a possibility that I will look for a buying pattern by seeing if there is a resistance base formed and then breaking.

See the trend going on XAUUSD moves in an upward formation and the current bearish movement is temporary or correction to find a footing to continue the uptrend.

The US dollar began to show its strength again as seen in the trading session Thursday where the US dollar index ended positive at 0.078 percent at 96.465 (MetaTrader data).

The bullish driver for the greenback yesterday was a market view of the Federal Reserve. Market players now assess that they will not adopt a dovish attitude towards monetary policy as previously thought.

Most market participants expect the Fed to remain dovish until the end of the year, but some comments regarding the Fed are not uniform regarding interest rate increases before the end of the year, thus weakening the dovish view for the bank's interest rates.

The US dollar was hit by weaker-than-expected US economic data which confirmed expectations that the Federal Reserve will keep US interest rates stable this year.

The market is still stuck in a boring and tight range. Some data and news also failed to get the market out of that tight range, now the market hopes that there are other stronger driving factors.

The driving factors may be strongly related to the development of US and China trade talks and Brexit negotiations which until now have not been confirmed.

The forex and gold markets still have the chance to continue consolidating today until a bright spot appears on the issue of US-China trade and Brexit.

In the meantime the market also seems to ignore saber rattling between the US and Russia which can indeed lead to the Cuban Missile Crisis Volume 2 after the US plans to spread missile systems in Europe near Russian territory.

gold is still in the bearis condition
I expect gold to be corrected first to resistance at the price of 1290.10
and according to trenline

The price of gold also strengthened as concerns mounted around the global economic slowdown which will spread to become an economic recession. Gold continues the trend of strengthening prices in the last 12 trading days.

At the time of writing in the European session on Monday (3/25/2019), gold was traded at $ 1316.58 per troy ounce, up 0.25 percent (3.31 points) from the weekend closing. This price was last reached 3 weeks ago or on March 1, 2019.

The inversion of the US Treasury yield curve for the first time since 2007, one indicator of a recession will make global stocks lower on Friday and an extended sell-off throughout the beginning of the European session on Monday, which eventually turns out to be a factor the main thing that sustains safe-haven demand for precious metals for the second consecutive session.

Data from Europe over the weekend confirmed the potential for recession, in addition to the latest outlook from the Federal Reserve which lowered US economic growth projections, adding to the list of advanced economic central banks that lowered the projected economic growth after the European Central Bank (ECB).

I see the current price will chase the basic support level at the price level of 1310.03 as the next target profit level after the basic support above where the price level of 1317.80 has been broken. After the price touches the base support level, there is a possibility that I will look for a buying pattern by seeing if there is a resistance base formed and then breaking.

See the trend going on XAUUSD moves in an upward formation and the current bearish movement is temporary or correction to find a footing to continue the uptrend.

xauusd on this day rose very high. trade war between America and China has affected the rise of Xauusd

Intraday Preferences: BULLISH

Support: 1315.42, 1307.70, 1295.21

Resistance: 1327.91, 1340.40, 1348.12

it seems that XAUUSD / GOLD commodity prices are moving back from the Swing and High area before after losing selling momentum that does not respond to the previous selling pressure. This illustrates the still slow Bullish view, so we will be aware of the retest potential to 1355.xx-1360.32.

There are no significant changes in the reference / support / resistance area, this analysis is still relevant as a trading reference on June 18, 2019)

Intraday Preferences: BULLISH

Reference Area: 1343.50 (look for BULLISH signal confirmation)

Support: 1334.47, 1328.89, 1319.87

Resistance: 1343.50, 1349.08, 1358.10