{"id":24362,"date":"2023-01-19T11:54:25","date_gmt":"2023-01-19T11:54:25","guid":{"rendered":"https:\/\/fxglobe.wpenginepowered.com\/golds-next-moves\/"},"modified":"2026-03-18T11:22:27","modified_gmt":"2026-03-18T11:22:27","slug":"golds-next-moves","status":"publish","type":"post","link":"https:\/\/www.fxglobe.com\/ms\/golds-next-moves\/","title":{"rendered":"Unlocking Gold’s Potential: Examining Its Next Moves in the Market"},"content":{"rendered":"\n

Good morning Traders!<\/p>\n\n\n\n

These 3 charts could help traders plan their next moves around Gold<\/a>.<\/p>\n\n\n\n

Let\u2019s start with the Monthly for context:<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Gold\u2019s recent moves almost straight up from $1,600 are the most aggressive since a similar attempt was made in March 2021 (seen to the left). Also, it has travelled a lot further.<\/p>\n\n\n\n

It now sits at a major price level which could be the most resistance it has faced in a while.<\/p>\n\n\n\n

Now let\u2019s take a look at the Weekly chart<\/a>.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Here we can see that it is also over-extended by some way on this timeframe.<\/p>\n\n\n\n

It\u2019s only Thursday, but there is also a small red weekly candle printing at a major resistance level.<\/p>\n\n\n\n

In many cases this would lead to the beginning of a swing high forming, should price break below this red candle in the following week, potentially seeing Gold drop to a lower level.<\/p>\n\n\n\n

The big question is, which level?<\/p>\n\n\n\n

There are several levels that qualify as valid price targets, but ultimately it will depend on how bullish Gold<\/a> is leading into the future, which no-one can predict.<\/p>\n\n\n\n

In the weekly chart, a retracement in this weekly uptrend down to $1,800 makes the most sense: It\u2019s a major level, and a 61.8% retracement from the highs.<\/p>\n\n\n\n

Let\u2019s look at the daily chart for more detail.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

It gets tricky here; there is NO divergence yet on either of the momentum indicators below, hinting that although it is over-extended and at a major level, it is not ready to stop. There\u2019s even a green\/bullish candle printing today.<\/p>\n\n\n\n

Often in situations like this there is another attempt to move higher, which then leads to a stronger rejection and a subsequent sell-off.<\/p>\n\n\n\n

Two areas of interest that price could ultimately retrace down to here are the highlighted boxes, but we will need to see how price action reacts when it gets there.<\/p>\n\n\n\n

Thankfully, once Gold has had a healthy pullback, it could then provide fresh buying opportunities.<\/p>\n\n\n\n

Happy Trading!<\/p>\n","protected":false},"excerpt":{"rendered":"

Good morning Traders! These 3 charts could help traders plan their next moves around Gold. Let\u2019s start with the Monthly for context: Gold\u2019s recent moves almost straight up from $1,600 are the most aggressive since a similar attempt was made in March 2021 (seen to the left). Also, it has travelled a lot further. It […]<\/p>\n","protected":false},"author":20,"featured_media":16385,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_seopress_robots_primary_cat":"none","_seopress_titles_title":"Gold Forecast: What's Next? | %%sitetitle%%","_seopress_titles_desc":"Explore the potential next moves for gold in the market. Stay informed and make informed trading decisions based on expert analysis and insights.","_seopress_robots_index":"","footnotes":"","_links_to":"","_links_to_target":""},"categories":[1],"tags":[],"class_list":["post-24362","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market-updates"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.fxglobe.com\/ms\/wp-json\/wp\/v2\/posts\/24362","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.fxglobe.com\/ms\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.fxglobe.com\/ms\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.fxglobe.com\/ms\/wp-json\/wp\/v2\/users\/20"}],"replies":[{"embeddable":true,"href":"https:\/\/www.fxglobe.com\/ms\/wp-json\/wp\/v2\/comments?post=24362"}],"version-history":[{"count":0,"href":"https:\/\/www.fxglobe.com\/ms\/wp-json\/wp\/v2\/posts\/24362\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.fxglobe.com\/ms\/wp-json\/wp\/v2\/media\/16385"}],"wp:attachment":[{"href":"https:\/\/www.fxglobe.com\/ms\/wp-json\/wp\/v2\/media?parent=24362"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.fxglobe.com\/ms\/wp-json\/wp\/v2\/categories?post=24362"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.fxglobe.com\/ms\/wp-json\/wp\/v2\/tags?post=24362"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}