Forecast for XAUUSD 29 SEPT 2022 for Fundamental Analysis and Technical Analysis

Gold : Fundamental Factors

1) Traders are now waiting to see if the decline in the dollar will be sustained or just another blip before more upward movement.

2) The yellow metal rose in a broad-based rally triggered by a weakening dollar

3) Copper market is waiting confirmation from China for their order as there is a weakening demand

The trend is Unknown but likely still Bearish

Gold : Fundamental Range : 1600 – 1700

Gold : Technical Analysis

Check at Daily Timeframe Support and Resistance for Fibonacci.

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

1) Resistance area : 1664.30,1675.82,1694.47
2) Support area : 1596.83,1615.48,1627.00

Pivot point : 1645.65

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

Check investing.com to get more info on what most indicator would display

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

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 investing.com

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.

https://my.weltrade.com/?r1=ipartner&r2=49989

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

Can join at our telegram group at https://t.me/weltrade_my

For traders who want to trade on their own can join Weltrade, we provide benefits for traders out there, learn to trade and follow free signals such as free paid signal providers, bookmap gold and tradingview premium live.

Free Bookmap Education > t.me/+JetSe33YA0U2ZDk1

Join us at our zoom for online learning from 10.30am to 11.30am by the Financial Markets Research Center (FMRC) team. With Cikgu Hafiz and Cikgu Gurmit

Link: https://us06web.zoom.us/j/81843968428?pwd=VkZ3L2UrcXh2WlZsZHU3ZFFGUmJMQT09

Komen anda