Gold price still bearish and possibly will test near support at 1775. If broken, further decline is likely to test next support at 1750. The falling trendline pattern on the price and RSI indicator also indicates a bearish pattern. We still maintain short positions at 1790 and stop loss at 1810, with target at 1750.

GOLD: Testing Support 1775

Gold: Testing Support 1775

Yesterday, we recommended short EUR/USD with a target 1.1700 area. Today that target has done. We will see if the support at 1.1700 can be broken. A break of the support could open the potential for further decline to 1.1600 area. Near resistance at 1.1750, which previously served as support.

EUR/USD: Target Has Done

In the previous update, we mentioned that gold is still bearish as long as below 1790-1800. Yesterday gold gained to highest level at 1795, which also confluence with the 50% Fibonacci area, as well as MA 50-day. However, it was corrected after touching that level. We still maintain our previous short positions as long as the price is below 1795.

Gold: Still Bearish as long as below 1795

N225 formed declining trendline, indicating a bearish trend. MA 50-day and RSI indicator are also pointed a bearish term.

Currently, N225 is testing support at 27060. Breakout that support will potentially for further decline to 25400 area.

Meanwhile, if the support holds, the rebound probably will be limited to the 27747 area.

N225: Testing Support

Nas100 is still above MA 50-day, indicating a bullish trend. Even so, the price is currently held at the resistance 15181.

RSI indicator showing bearish divergence. If the Nas100 fail to break the resistance at 15181, it will may be corrected to test the support at 14784, which also confluence with the support MA 50-day.

Short Term : Short @resistance 15181, stop loss 15200, target 14785.

For the medium term, trend is still bullish as long as hold above 14785

Nas100: Potentially Short Term Correction

After falling to more than four-month low of 1678, gold price started to rebound, and managed to break through the resistance at 1750, which is now turning into support.

The price is currently stuck at the resistance at 1790, which confluence with the 50% Fibonacci retracement area from high 1916.62 to low 1678.92.

The RSI indicator is still below 50 level, which means sellers are still dominant. The price is also still below the 50-day moving average, indicating the trend is still bullish.

Short @1790, stop loss 1805, target 1750.

XAU/USD

Euro Still Down, currently stuck at near resistance at 1.1804 and possibly will test the immediate support at 1.1750. A break of this level could open the downside potential towards the strong support at 1.1700.

Recommendation:
Sell ​​@1.1800, stop 1.1830, target 1.1750-1.1700.

Alwy Assegaf

Alwy Assegaf

Aug 26 2021

GOLD: Testing Support 1775

Alwy Assegaf

Aug 26 2021

Gold: Testing Support 1775

Alwy Assegaf

Aug 18 2021

EUR/USD: Target Has Done

Alwy Assegaf

Aug 18 2021

Gold: Still Bearish as long as below 1795

Alwy Assegaf

Aug 17 2021

N225: Testing Support

Alwy Assegaf

Aug 17 2021

Nas100: Potentially Short Term Correction

Alwy Assegaf

Aug 17 2021

XAU/USD

Alwy Assegaf

Aug 17 2021

EUR/USD