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What is the daily forecast for XAUUSD and WTI Crude oil?

Discussion in 'Expert Advisor atau Robot Forex' started by Rehana William, 07 Apr 2021 at 13:25.

  1. Rehana William

    Rehana William Member

    Ref Point
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    Gold Technical Analysis: Reasons for Stalled Gains

    On the daily chart, there is no change in the movement of the gold price.

    Despite the decline of the US dollar with the return of traders from the holiday, the price of gold only rose to the $1733 level before settling around $1728 as of this writing. Gold is waiting for more momentum to achieve stronger gains or to complete the recent downward path that pushed it to the $1678 support level last week. Gold’s gains were limited as investors chose riskier assets such as stocks thanks to the latest batch of positive economic data, better than all expectations.

    Technical analysis of gold:
    On the daily chart, there is no change in the movement of the gold price, as it is still moving within a sharp downward channel since it abandoned the level of psychological resistance of $1800 an ounce, which is important for the bulls’ control over the price. There will be no rebound in the general trend of gold without breaching that resistance. The closest targets of the bears are currently the support levels of $1710, $1692 and $1673.

    Global vaccination efforts, risk appetite, the return of global economic activity, and the strength of the US dollar will be the most important factors affecting the performance of the gold price in the coming days.

    WTI Crude Oil Forecast: Testing Trendline Yet Again

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