Comment on Gold April 20, 2021

 ‼️  At the end of yesterday's session, the world gold price had a 1-day decline from 1790 to 1766 ($ 24), closing the day with a bearish candle after strong gains.  This is also the necessary downward momentum for this precious metal to go to higher price ranges and in my opinion, after dropping its correction to 1766 last night, there are supportive forces to  pushing up this precious metal price during the day.

- After hitting the strong resistance zone at 1790, gold price had corrections and in my opinion this is a downside to turn up because on the weekly chart, the trend is still in favor of buying, in addition to the continuous strong downward momentum.  of the USD index, this also supports the uptrend of Gold.

 - Considering on a shorter time frame than H4, the precious metal currently tends to decrease to around the old support zone of 1758-1763.  In my opinion, this is the support zone to push up the price of gold precious metal during the day.  Here we can establish a buy position on Gold precious metal with a safe profit-taking target around 1770-1775 at the beginning of today's session.

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Comment on Gold on April 19

  ‼️ ️ At the end of last trading week, gold precious metal had strong growth rate from 1722 to 1785 (63 $) to close the week at 1776 price zone. With strong increase of gold precious metal in 2  At the end of the week, the resistance area over the past month at 1755 was officially broken, turning this price area into the support price zone of precious metals in this week's session.

- Still considering the weekly chart (W1), at present, the precious metal Gold is facing a fairly strong resistance zone around 1785-1795 and in order to go up to the above high price range in my opinion, it is possible.  Gold will have to have a slight correction to around the threshold it broke last week around 1755 to be able to rebound.

 - In the beginning of the session today we think we can sell short around the 1785 price range. The safe target is 1762 and expect Gold to reach the 1745-1755 price zone.  Here we will consider buying this precious metal.

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Comment on Gold on April 16, 2021

 ‼️ ️ End of trading yesterday, precious metal Gold had a strong rebound when from 1734 to 1769 ($ 35) broke the resistance zone of 1755 and closed the daily candle beyond this price zone at 1763. With the close  Yesterday candlestick broke through today's cumulative resistance, in my opinion this uptrend will continue in the early part of today's session.

- Considering on the daily chart time frame, we can see that the uptrend of Gold is tending to move up to the next resistance zone of 1778-1782.  If in this Asian session, gold precious metal does not tend to correct, but goes straight to the above price range, it is likely that there will be a correction to gold at the 1778-1782 price range in my opinion here.

 - Case 2 if Gold declines and corrects to 1750-1755 in the beginning of today's session, we can establish a buy position around this level with the target of 1778-1782.  After the gold precious metal touches this price zone, we should consider a sell signal here.

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Gold Overview by Money Life Research

  ‼️ ️ End of session yesterday, gold precious metal went as expected when it declined from 1749 to 1732 ($ 17) closed the daily candle around 1734. Down force almost occupied the previous uptrend.  and once again retest MA20 on daily chart timeframe.  As I have analyzed it recently, the daily candle is also moving sideways to accumulate, we will easily be fooled if we look at its bullish force.  In my opinion, when the world gold price stood below 1760, I still maintain the view of selling down with this precious metal.

- In addition, the negative signal of the USD in the last 3 weeks has not been good, but the world gold price (XAUUSD) is still almost stationary without a strong rally, thus confirming the view.  this is more mine.  So in today's session we will continue to wait for sale of this precious metal around the threshold of 1740-1746.  The target is around 1732 and expect it to be 172x in today's session.

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Today Overview on Gold by Money Life Research

  ‼️ ️In the trading session yesterday, after the precious metal Gold decreased from 1736 to 1723 ($ 13), there was a sharp increase to the 1748 price range in the US session right after that.  Closing the daily candle with a bullish candle around the 1743 price range. As you can see, after rising and falling, the price of Gold is still moving sideways in the 1725-1755 area without any significant breakout.  So we can trade within this price range.

- Considering D1's daily chart timeframe, the support around MA20 on the daily time frame had a downward trend, but at the close, the price still stood firm and maintained above this MA20.  As for the resistance zone, around the price zone 1746-1755 is the upper resistance level of the precious metal Gold that it has accumulated many days.  If the volatility moves up and down, the sideways range remains the same and in my personal opinion we continue to sell down around this resistance zone down to the aforementioned support.

 - Switching to a shorter time frame of H4, currently gold precious metal is having a slight resistance zone around 1746 and if in the next candle, H4, the candlestick force continues to rise and surpasses 1748.  Last night, there was a possibility that it would retest the 1755-1758 zone.  Here we can establish a short position on the Gold precious metal in the short term.

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Weekly Overview on Glod

 Gold

MARKET VIEW

Weekly changes: XAUUSD +1.06%

The price of gold rallied towards the 1,758 USD this week, marking the highest trading level for the yellow metal in about five weeks. Weakness in the U.S. dollar and the promise of continued quantitative easing from the Federal Reserve helped propel gold higher this week.

Gold has suffered its worst start to the year in over a decade and has been in a protracted downtrend since falling below its 200-day moving average in February. From a seasonal perspective, the month of April is not a strong one for gold. However, the promise of more quantitative easing and low rates in the United States helps drive the recovery so far this month.

KEY POINTS

India's gold imports in March surged 471% from a year earlier to a record 160 tonnes, as a reduction in import taxes and a correction in prices from record highs drew retail buyers and jewellers.

Important levels: 1,715, 1,727, 1,745, and 1,759 USD.

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Top Forex News by Money Life Research

 1️⃣ The main news over the weekend

 - Biden seeks to increase its budget for fiscal year 2022 to 8.4%.

 Biden will form a committee to study controversial topics such as the expanding Supreme Court.

 - Powell: The US economy is at an inflection point.

 - Saudi Aramco will sell a 49% stake in its oil pipeline, worth $ 12.4 billion.

 2️⃣ Notable facts and data this week

 More Fed officials, including Powell, are set to hit this week:

 - At Monday morning, Powell attends a news program and will speak at the Economic Club of Washington on Wednesday.

 From Wednesday to Friday morning, many officials, including Fed Vice Chairman Clarida, will deliver speeches.

 Economic data and reports for the US market should be focused on:

 At Tuesday, the US seasonally adjusted March CPI was announced and the market expected it to be at 0.5%.  If the CPI figure exceeds expectations, it could once again make people worry about uncontrollable inflation.

 - The rate of monthly US retail sales for March is announced on Thursday 5. Some analysts predict that March data will rise again.

 On Tuesday and Wednesday, OPEC and IEA will publish two main oil reports.

 As for other data, the Reserve Bank of New Zealand announced its rate decision on Wednesday.  China's first-quarter GDP rate every year is announced at on Friday, and the market is expected to grow 18.20%. 

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