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XAUUSD - Gold in a up-trend but limited upside?

Haynes6EU Posted 30 Apr as Analysis on XAU/USD, Target: 1274.65, Date: 1 di Giugno, 12:00 GMT  in #Technical analysis #Gold #XAU/USD #Xauusd
Hi community members,
Background: this forecast base on balanced distribution (supply vs demand; price oscilator and median). Because the technical contest is to predict price on 1st of June, so I use weekly chart for trend and range forecast; daily chart for price point forecast.
Weekly chart: the chart below shows price has gone up since last December. Price is winthin balance area (ichimoku cloud) of weekly chart and may be difficulty to go up futher at least in the next month. 130x and 1246 …
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Haynes6EU 4 Mag

Update 1: Price falling in three week to 1240 from 1295. Demand for gold reduce after FOMC statement and FED fund rate released. Now price around 1240 level, can this support level hold? It would be chance to buy gold again as expect politics event surprise.

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Haynes6EU 8 Mag

Update 2: Prices fall sharply from 1295 level. Demand for safe asset reduce and risky asset as Nikkei, Dax, US500, US30 ... rise quickly. Gold price can bounce back 1240.

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Haynes6EU 15 Mag

Update 3: It's seem that Gold has found strong support at around 1215 and price bounced back to 1230 as of writing. Gold decreased as market expect Fed hike rate and reduce balance sheet as good economic data released (non-farm employment data) that make increase inflation expectation, bond yield rise and reduce gold demand. About technical view: Gold price is rebalancing and bounced back 1230 and this process could continue up to above 1240 level.

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Bull show power at current bottom in H1 chart

Haynes6EU Posted 9 Ago  in #Trader's blog #Gold #Xauusd
Hello community,
Bull show power at current bottom, Gold trying to move down but not successful, so I think that Gold can go up to refresh new Bear power before could make new low. Chart tell me Bull power at bottom and it seem that no more selling at these level. Look at my simple chart:
Good luck to all
Haynes
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