Analisa Harian - Weltrade MY

Forecast for XAUUSD 26 SEPT 2022 for Fundamental Analysis and Technical Analysis

Gold : Fundamental Factors

1) The dollar notched a new 20-year high amid growing fears of rising interest rates and a potential economic recession.

2)Economic indicators from the Eurozone and the UK also showed a pronounced contraction in business activity,
ramping up fears of a recession and denting the demand outlook for metal markets.

3) Copper prices have been hit particularly hard this year by an economic slowdown in major importer China.
Slowing industrial activity in the U.S. and Europe has only exacerbated recent losses.

4) Still, a potential supply crunch, stemming from a strike at Escondida, the world’s largest copper mine, may potentially benefit prices in the long term.

Trend is Bearish

Fundamental Range : 1600 – 1700

Gold : Technical Analysis

Check at Daily Timeframe Pivot point for Fibonacci.

Check the timing of trade it might be different for resistance and support at that time.

1) Resistance area : 1645.47,1646.72,1648.74
2) Support area 1641.43,1640.18,1638.16

Pivot point : 1643.45

Confirm with technical indicators and based on your own technical analysis.

Check to get more info on what most indicator would display

Check higher timeframe also for more confirmation for entry in Daily timeframe.

Follow the pivot point on which timeframe that you will be trading , support it with the technical analysis

The technical indicator display strong sell at higher timeframe, where we can entry sell for higher timeframe by following the resistance area given and vice versa

If want to go for the lower timeframe ,can see what the timeframe display to see the confirmation of trend and entry

Seek for sell or buy opportunity to enter for confirmation or based on your own technical analysis understanding.

Use linear regression to get confirmation trend at daily as they are not available in

Linear regression shows a downward trend.

Use Bolinger Band Strategy Tester and RSI Strategy Tester to get more confirmation.

Both strategies show a higher percentage of profit which is higher than 50%

Trend is Bearish

Gold: Find to Sell at the daily chart.

For further information, contact me ,Gurmit at +60142584067,I will guide anyone that would like to register with Weltrade. Can register at the below link. Thank you.

Disclaimer : This analysis is based on and You may follow based on your own discreetion.

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