Gold FX Empire

Gold Real Bearish Momentum Below 1850

GOLD Technical Analysis

  • Move down from W L4
  • Selling the rallies
  • Bearish trend continues below 1850
  • Support is near


H4 Chart GOLD

  1. Important support
  2. Swing high
  3. Outside bar
  4. Intraday bearish target
  5. Final target

GOLD is still bearish. Technicals show a clear downtrend with many failed attempts for counter trend moves. The price is straddling the MAs and I expect further bearish continuation. Selling the rallies is an option with the 1750 zone being a strong support. If the market breaks 1750 only then we will see increased bearish pressure. The target will be 1729 which is Monthly L3.

Gold movement is influenced by the USD where we naturally see the negative correlation. Other factors to influence GOLD price movements are:

  • Gold production
  • Global money supply
  • Global inflation
  • Interest rates
  • Currency debasement
  • Global imbalances
  • Government reserves
  • Safe haven demands.

This analysis, and all entry signals and targets are a part of the Megatrend system and a trading course. I closed all of my short positions. I am planning to sell the rallies towards the 1770 zone.

Cheers and safe trading,


Published by

Nenad Kerkez

Nenad Kerkez is an analyst and trader who has been in the market since 2008 and works closely with Admiral Markets as their Senior Lecturer and Market Analyst. Nenad covers over 25 currencies on an intraday basis and has a Masters in economics. He also developed CAMMACD TM, a proprietary trading and analysis strategy wit ever powerful pre fact setups that you can read every day. Nenad is also a valuable presenter on various FX EXPO shows, where he always presents new and interesting ways how to trade price action and protect your own investments. Further, he is the co-founder and head of Elite Currensea Trading, an educational website for currency traders.