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Bears Interrupt Bulls at $1,818 Zone – Cryptovibes.com – Daily Cryptocurrency and FX News

Bears Interrupt Bulls at $1,818 Zone – Cryptovibes.com – Daily Cryptocurrency and FX News


Gold Weekly Price Analysis – July 31

In case the bears could not break below dynamic support level, the price may continue bullish trend towards the resistance level at $1,818, $1,845, then, $1,873 resistance levels. When the Bears’ pressure increase and break down dynamic support level, price may decrease to the support levels at $1,741, and $1,680.

XAUUSD Market

Key levels:

Resistance levels: $1,818, $1,845, $1,873

Support levels: $1,789, $1,741, $1,680

XAUUSD Long-term Trend: Bullish

Gold is bullish on the long-term outlook. After the price was rejected at the support level of $1,741 on June 30, the buyers gained more pressure with the formation of daily strong bullish candles. The price tested the $1,818 resistance level. It broke up the former resistance level of $1,789. The price experience a second breakout on July 14 at $1,818 price level. The Gold market was pulling back to retest the dynamic support on 30 July.

Buyers are ruling the Gold market as it is trading above the 9 periods EMA and 21 periods EMA on the daily chart. This indicate that the bulls are dominating Gold market. In case the bears could not break below dynamic support level, the price may continue bullish trend towards the resistance level at $1,818, $1,845, then, $1,873 resistance levels. When the Bears’ pressure increase and break down dynamic support level, price may decrease to the support levels at $1,741, and $1,680.

XAUUSD Medium-term Trend: Bearish

Gold is on the bearish movement on the 4-hour chart. The buyers exerted more pressure last week to break up the resistance level of $1,818. The bullish momentum became weak as the Dollar index became high and the price turned to the south.

Gold is trading below the 9 periods EMA and 21 periods EMA as an indication of a bearish market. The Relative Strength Index period 14 is at 45levels with the signal line displaying sell signal which may be a pullback.



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