XAUUSD Analysis Today

In our previous analysis we were expecting bullish move in XAUUSD.Gold move higher exactly according to our expectations and made high around 1353 area in  yesterday sesssion.Gold has clearly break its resistance of 1341 and according to technical rules resistance become support after broken.We will look for the buy entry again when gold will  touch its resistance again.I am expecting little bit more upward movement today before a correction.Upward movement may end around 1353-55 level and then possible correction towards 1339-41 area in XAUUSD.Best buying gold area is around 1339-41 with minimum target 1367 and 1375 in extension.We will remain bullish in gold as long as gold is taking care of its support levels.i am sharing 4 hour XAUUSD time frame chart analysis , gold next possible movement diagram is mention in the chart.

Note : Movement and closing below 1339 will invalidate bullish thoughts in short term basis and may take gold toward 1323-25 level.Overall targets will remain same 1367 and 1375.

XAUUSD 4 Hour Chart

XAUUSD Gold Chart

XAUUSD Support and Resistance levels

Daily Support : 1323-25

Daily Resistance 1367

Hourly Support 1339

Hourly Resistance 1355-57

Note: Never risk more then 2% of your account capital in single trade.Always trade with proper risk management plan.

Please join our Telegram Channel for Trade Updates & Alerts

https://telegram.me/dailygoldanalysis

Feel free to comment below if you have any concern regarding charts and analysis.Your feedback is always welcome and help us to improve.

Wish you good luck and happy trading

Mati Ur Rehman

Gold Analyst @ Dailygoldanalysis.com

Email : [email protected]

Skype : mati_ji

 

 

The post XAUUSD/Daily Gold Analysis 7th September 2016 appeared first on Daily Gold Analysis.

Daily Gold Analysis

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.