GoldViewFX Predicts Bullish and Bearish Targets for Gold

GoldViewFX, a prominent market analysis firm, releases its latest technical analysis for gold, predicting both bullish and bearish targets based on key market indicators, with potential price movements ranging from 2274 to 2435, amidst a complex market landscape influenced by currency values, inflation rates, and investor confidence." This description focuses on the primary topic of gold market analysis, the main entity of GoldViewFX, and the context of the global economy. It highlights the significant actions of predicting price targets and the implications for investors and policymakers. The description also provides objective and relevant details, such as the potential price range, which will help an AI generate an accurate visual representation of the article's content.

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Nitish Verma
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GoldViewFX Predicts Bullish and Bearish Targets for Gold

GoldViewFX Predicts Bullish and Bearish Targets for Gold

GoldViewFX, a prominent market analysis firm, has released its latest technical analysis for Gold, predicting both bullish and bearish targets based on key market indicators. The company's analysis suggests that the precious metal could reach bullish targets of 2389, 2412, and 2435, while also identifying potential bearish targets at 2317 and 2290-2274.

Why this matters: The fluctuations in gold prices can have a significant impact on the global economy, influencing currency values, inflation rates, and investor confidence. As a result, accurate market analysis and predictions can help investors and policymakers make informed decisions, mitigating potential risks and capitalizing on opportunities.

According to GoldViewFX, these targets are based on EMA5 (Exponential Moving Average 5) crosses and locks around the 2357 level. The firm's analysis takes into account various technical factors and market trends to provide traders and investors with valuable insights into potential price movements.

In addition to GoldViewFX's predictions, other analysts in the market have shared their own insights. Some believe that the current correction in Gold prices might be wave 4, with a potential target of the previous high. There are also expectations of a short-term bearish and long-term bullish institutional order flow.

Technical analysts have also identified a round bottom pattern forming in the Gold market, similar to a cup and handle pattern, which could indicate a potential upside. However, traders are keeping a close eye on the support level at 2350 and the top of the channel, as these levels may provide a bounce or prove to be bouncy.

Looking ahead, some analysts expect selling pressure on Monday, which could force the price down to test the 2352/2354 (.50) fib level, and potentially push to test the 2330's level. Traders are advised to wait for a clear break of the bullish order flow before taking a trade, and to look for a retracement and a support level at the last high broken, accompanied by a 4h or 1h bullish momentum candle, as a sign to take longs.

GoldViewFX's market analysis provides valuable insights for traders and investors navigating the complex world of Gold trading. By identifying key bullish and bearish targets, the firm aims to help market participants make informed decisions and capitalize on potential opportunities. As always, traders should exercise caution and employ proper risk management strategies when entering any trades.

Key Takeaways

  • GoldViewFX predicts bullish targets: 2389, 2412, and 2435.
  • Bearish targets identified: 2317 and 2290-2274.
  • Targets based on EMA5 crosses and locks around 2357 level.
  • Analysts expect selling pressure on Monday, testing 2352/2354 fib level.
  • Traders advised to wait for clear break of bullish order flow before trading.