GoldViewFX - DAILY CHART MARKET UPDATE

FXStreet’s Dhwani Mehta Opinion About Gold Movements

GoldViewFX - DAILY CHART MARKET UPDATE by Goldviewfx on TradingView.com

Hey Everyone,

Please see updated daily chart analysis.

We have drawn a channel using Goldturns, which is currently being respected by EMA5 and providing support. EMA5 is gearing for a MA21 cross this will provide the momentum needed for another push up. A failure to cross will see us test the swing range. Either way we have a long range Axis target at 1993, so any price drop into the swing range we will use as buying opportunities on the smaller timeframes, which we will share daily throughout the week.

AXIS TARGET 1993
SWING RANGE 1897

Should we see EMA5 cross below 1897 with a candle body close then we can expect further movement down to 1849. In which case we will wait for the deeper correction before continuing to buy dips again. Our strategy to buy and bank 20 to 40 pips at a time, dependant on the range, allows us safe exits should the market turn against us and then gives us a chance to get back in safely.

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GoldViewFX
XAUUSD TOP AUTHOR