π¨ Daily GOLD Forecast – 26.7.2024
An additional signal favoring a decrease in #XAUUSD quotes will be a test of the resistance line on the relative strength index (RSI). Another signal will be a breakout from the upper border of the bearish channel. The option to reduce Gold prices will be invalidated on 26 July 2024 if there is a strong rise in prices and a breakdown of the level of 2405. This would indicate a breakdown of the resistance area and a continued rise in asset quotes to above 2445. An acceleration in the fall of #XAUUSD quotes is expected with a breakdown of the support area and price closing below 2355.
The forecast and analysis for 26 July 2024 assume an attempt to develop a price correction and test the resistance area near 2375. Following this, a continued fall in quotations of the non-ferrous metal with a target below 2285 is expected. However, a strong increase in the asset's market value and a breakdown of the level of 2405 will cancel the option to reduce prices for Gold, indicating a continued rise in Gold prices with a potential target above 2445.
π¨ Daily GOLD Forecast – 25.7.2024
An additional signal favoring the growth of #XAUUSD quotes will be a test of the support line on the relative strength index (RSI). Another signal will be a breakout from the lower border of the bullish channel. If Gold prices drop and break the level of 2335 on 25 July 2024, this would invalidate the growth scenario. Such a breakdown would suggest a continued fall in asset quotes to below 2285. Conversely, an acceleration in the growth of #XAUUSD quotes can be expected with a breakdown of the resistance area and closing prices above 2435.
The GOLD Forecast and Analysis for 25 July 2024 anticipates a potential price correction and a test of the support area near 2375. Following this, the continued growth of non-ferrous metal quotations with a target above 2540 is expected. However, if the asset's market value falls and breaks the level of 2335, this would indicate a continued decline in Gold prices, potentially targeting levels below 2285.
π¨ Daily GOLD Forecast – 24.7.2024
A potential signal for an increase in #XAUUSD quotes is a test of the support line on the relative strength index (RSI). Another indicator will be a breakout from the lower border of the bullish channel. The scenario for rising Gold prices will be invalidated on 24 July 2024 by a drop in prices and a breakdown below 2325. This would indicate a breach of the support area and a continued decline in asset quotes to below 2275. Anticipate an acceleration in the growth of #XAUUSD quotes with a breakout of the resistance area and closing prices above 2435.
The forecast assumes an attempt to develop a price correction and test the support area near 2370, followed by continued growth in non-ferrous metal quotations targeting above 2535. The bullish scenario for Gold prices will be invalidated by a fall in the asset's value and a breakdown below 2325, indicating a continued decline with a potential target below 2275.
π¨ Daily GOLD Forecast – 23.7.2024
An additional signal indicating growth in #XAUUSD quotes will be a test of the support line on the relative strength index (RSI). Another signal will be a breakout from the lower boundary of the bullish channel. The bullish scenario for Gold prices on 23 July 2024 will be invalidated by a fall in prices and a breakdown below 2325. This would indicate a breach of the support area and a continued decline in asset quotes to levels below 2285. Expect an acceleration in the growth of #XAUUSD quotes with a breakout of the resistance area and closing prices above 2435.
π¨ Weekly GOLD Forecast – (22.7.2024 – 26.7.2024)
An additional signal for an increase in #XAUUSD quotes during the trading week of July 22β26, 2024, will be a rebound from the support line on the relative strength index (RSI). Another signal will be a rebound from the upper boundary of the Triangle pattern. The invalidation of the bullish scenario for #XAUUSD will be indicated by a price drop and a breakdown below the 2235 area. This would signify a breach of the support level and a continued decline in gold prices, targeting below 2165. Confirmation of an increase in the asset's value will come from a breakout of the resistance area and closing above 2485.
This analysis assumes an attempt to develop a decline and test the support level near 2385, followed by continued growth in gold prices, targeting above 2705. A test of the trend line on the RSI will support the rise in quotes. The invalidation of the bullish scenario for gold will be indicated by a fall and a breakdown below 2235, suggesting a continued decline in quotes to levels below 2165.
π¨ Daily GOLD Forecast – 18.7.2024
An additional signal for the growth of #XAUUSD quotes will be a test of the support line on the relative strength index (RSI). The second signal will be a breakout from the lower boundary of the bullish channel. Cancellation of the option for gold price growth on July 18, 2024, will be a fall in prices and a breakdown of the level of 2375, indicating a breach of the support area and a continued decline in quotes to the level of 2315. Expect an acceleration in the growth of #XAUUSD quotes with a breakout of the resistance area and closing prices above the level of 2525, indicating a breach of the upper boundary of the bullish channel, which is a signal for growth by the width of the channel.
It assumes an attempt to develop a price correction and test the support area near the level of 2420. Further growth in non-ferrous metal quotes with a target above the level of 2565. The cancellation of the option for gold price growth will be a fall in the asset's value in the markets and a breakdown of the level of 2375. This will indicate a continued decline in the price of gold with a potential target below the level of 2315.
π¨ Daily GOLD Forecast – 17.7.2024
A potential increase in #XAUUSD quotes on 17-07-2024 could be indicated by two key signals: a test of the support line on the RSI and a breakout from the lower border of the bullish channel. If Gold prices drop and fall below the 2375 level, it would signal a breakdown of the support area, suggesting a further decline towards 2305.
However, if there's a breakout above the resistance area and closing prices exceed 2465, it would indicate a breach of the upper boundary of the bullish channel, signaling growth equal to the channel's width.
An expected scenario involves a price correction with a support test around 2405, followed by continued growth in non-ferrous metal quotes targeting above 2515. On the other hand, if Gold prices fall and break below 2375, it would confirm a persistent decline with potential targets below 2305.
π¨ Daily GOLD Forecast – 16.7.2024
On 16-07-2024, potential growth in #XAUUSD quotes may be signaled by testing the support line on the RSI and a breakout from the lower border of the bullish channel. If Gold prices fall and breach below 2365, it would signal a breakdown of the support area, likely leading to further declines below 2285.
Anticipate an acceleration in #XAUUSD quotes if there's a breakout above the resistance area, closing prices beyond 2445. This scenario suggests a possible price correction with a support test around 2395, followed by continued growth in non-ferrous metal quotes targeting above 2495. Conversely, a drop and breach below 2365 would confirm a sustained decline in Gold prices, potentially aiming for targets below 2285.
π¨ Daily GOLD Forecast – 12.7.2024
On 12-07-2024, watch for a potential rise in #XAUUSD quotes if there's a test of the support line on the RSI and a breakout from the lower border of the bullish channel. Should prices fall and break below 2365, this would negate the bullish scenario, indicating a breakdown of the support area and a further decline to below 2285.
If the resistance area is breached and prices close above 2445, expect accelerated growth in #XAUUSD. This outlook suggests a possible price correction with a support test near 2395, followed by a continued rise in non-ferrous metal quotes targeting above 2495. Conversely, a drop and breakdown below 2365 would confirm a continued decline in Gold prices, aiming for a target below 2285.