Gold Trade Hit Short-Term Target

Gold Trade Hit Short-Term Target

2021-08-17 • Updated

Gold managed to rise further at the end of last week’s trading.

4H Chart 

XAUUSDH4 16 Aug 2021.png

Daily Chart 

XAUUSDDaily 16 Aug 2021.png

Gold managed to rise further at the end of last week’s trading, reaching our short-term target at 1750 and 1780 mentioned in our weekly video market update and in our previous daily notes. The long position signal was issued at 1730 on the short and the medium-term. Gold began the week lower, back to 1773 USD/Oz so far, while the technical indicators are still encouraging. Yet, I prefer to keep the medium-term position for now and keep the stop loss at the entry to protect the position from any possible loss. As for this week, Gold needs to hold above 1760 USD/Oz, while a stabilization above that level might lead to another leg higher, targeting 1800 USD/Oz.

S3 S2 S1 Pivot R1 R2 R3
1713.83 1742.17 1760.95 1770.51 1789.29 1798.85 1827.19

LOG IN

Similar

Trade ideas for March 28 - April 1
Trade ideas for March 28 - April 1

Last week marked the consolidation for the most active assets of March 1-15 (which is oil and gold). But next week has a lot to show, be ready to take part!

September 20-25 Trade Ideas
September 20-25 Trade Ideas

US stock market corrects, gold recovers and the crypto market drops hard! Best trade opportunities during this week in the article! Let’s check the charts and set some goals! NASDAQ (US100) US100 index plunges as the US dollar strengthens…

Latest news

What to Trade on July 4-8
What to Trade on July 4-8

Last week was bearish for risky assets such as stocks, oil, gas, and crypto. Will the upcoming week change the situation across the markets? Let’s look at it in detail!

When Will the US Stocks Bear Market Bottom?
When Will the US Stocks Bear Market Bottom?

US stocks have delivered their worst first half of a year in more than 50 years triggered by the Fed's attempt to control inflation and growing concerns about recession.

The Dollar's Strength or Other Currencies' Weakness?
The Dollar's Strength or Other Currencies' Weakness?

The value of the US dollar continues to rise, but is this because of the strength of the dollar itself or just the weakness of the euro, Japanese yen, and British pound? Since the beginning of the year, the US dollar index has been up 8…

Deposit with your local payment systems

Be on top of your game

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Next callback request for this phone number
will be available in

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later

Don’t waste your time – keep track of how NFP affects the US dollar and profit!

Beginner Forex book

Beginner Forex book will guide you through the world of trading.

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera