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XAU/USD Trading Along A Downtrend

Published 09/16/2014, 02:52 AM
Updated 07/09/2023, 06:31 AM

Main scenario:
The pair is trading along an downtrend.
The uptrend may be expected to continue while pair is trading above support level 1238, which will be followed by reaching resistance level 1228.

Alternative scenario:
An uptrend will start as soon, as the pair rises above resistance level 1238, which will be followed by moving up to resistance level 1244 and to 1250.

XAU/USD Hour Chart

Previous forecast:
XAU/USD Hour Chart

Weekly Forecast, 15 - 19 September

Main scenario:
The pair is trading along an downtrend.
The downtrend may be expected to continue while pair is trading below resistance level 1250, which will be followed by reaching support level 1223 and to 1207.

Alternative scenario:
The uptrend may be expected to continue in case the market rises above resistance level 1250, which will be followed by reaching resistance level 1293.

XAU/USD Hourly Chart

Previous forecast:
XAU/USD Hourly Chart

Monthly forecast, September - October (updated 09/08/14)

Main scenario:
The pair is trading along an downtrend.
The downtrend may be expected to continue in case the market drops below support level 1250, which will be followed by reaching support level 1207.

Alternative scenario:
An uptrend will start as soon, as the pair rises above resistance level 1293, which will be followed by moving up to resistance level 1328 and if it keeps on moving up above that level, we may expect the pair to reach resistance level 1392.

XAU/USD Daily Chart

Previous forecast:
XAU/USD Daily Chart

Long-term Forecast: May - August

Main scenario:
The pair is trading along an downtrend.
The downtrend may be expected to continue while pair is trading below resistance level 1560, which will be followed by reaching support level 1182 and then to 975 - 878.

Alternative scenario:
An uptrend will start as soon, as the pair rises above resistance level 1560, which will be followed by moving up to resistance level 1747 and then to 2000.

XAU/USD Weekly Chart

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