GOLD DAILY CHART

XAUUSD Gold Technical Analysis October 17th

XAUUSD Gold is being priced 1.292 USD currently. Gold prices fell in Asia on Tuesday as investors noted a stronger dollar and less appetite for safe-haven plays weighed on sentiment and as physical demand in India for the holiday season has failed to lift the futures market.

XAUUSD Gold Price is testing the EMA 50 Support on the daily chart. Price failed to break out 1.305 USD resistance.

On the downside: 1.281 and 1.276 USD are the main support levels of today.

On the upside: 1.296 and 1.300 are the main resistance level of today. Price will be under pressure as long as it holds below 1.296 USD.

On H4 Chart, we can see that the price is above MA50 and MA100. XAUUSD Gold price is in the lower channel of Bolinger Bands. We may see the prices move down towards 1.286 and 1.281 level.

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Warning: All markets trade in different phases; bull and bear markets don’t start overnight. Markets build through three major phases and depending on the time frame you are trading, you will see different phases.

If you enter a trade by analysing the H4 chart frame, this is just a day trading, your stop loss and take profit levels must be set up accordingly.

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  8. All markets trade in different phases; bull and bear markets don’t start overnight. Markets build through three major phases and depending on the time frame you are trading, you will see different phases. If you enter a trade by analysing the H4 chart frame, this is just a day trading, your stop loss and take profit levels must be set up accordingly.

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