How To Make Money Today: Daily Gold (XAUUSD) Market Analysis and Forex Trading Signals 31 March 2022

To assist you to make a good day-trading selection, we’ll cover the newest forex market analysis. Make more money today with our market analysis. You must know how to trade first, and have at least a simple understanding of chart patterns. Aside from that, we’ll cover some basic tips and methods that can aid anybody curious in day trading strategies. So let’s start by looking at some charts from today…

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XAU/USD (GOLD):

On the H4, prices are on bearish momentum and abiding by our descending trendline resistance. We see the potential for further bearish continuation from our 1st resistance at 1941.226 which is in line with 78.6% Fibonacci projection towards our 1st support at 1915.715 in line with 23.6% Fibonacci retracement and also graphical swing low. Prices are trading below our ichimoku clouds, further supporting our bearish bias.

Areas of consideration:

  • 4h 1st support at 1915.715
  • 4h 1st resistance at 1941.226
gold analysis

Confluence Detector’s Gold Price Forecast: XAU/USD looks to be’selling the rebound,’ with major US data being watched

  • The price of gold continues to fall as risk aversion rekindles demand for the US dollar as a safe haven.
  • Gold dealers are keeping a careful eye on US rates and Ukraine developments ahead of US data.
  • There are four possibilities for large price movements in precious metals markets.

Despite Wednesday’s recovery, the gold market remains vulnerable to negative risks as prospects for diplomatic solutions to the Ukraine issue fade and Russia’s actions on the ground persist. Meanwhile, in the face of recession concerns and rising inflation, the price movement in US Treasury rates will continue to have a considerable influence on the non-yielding gold price. For further information on the Fed’s next interest rate decision, the gold price will be watching the US PCE inflation and Friday’s Nonfarm Payrolls. XAU/USD is expected to finish the quarter and month with gains of 5.6 percent and 1%, respectively.

Key levels to monitor in the gold price

Gold price is battling bids at $1,924, according to the Technical Confluences Detector, which is the convergence of the SMA10 four-hour, Fibonacci 61.8 percent one-day, and pivot point one-week S1.

The next bearish objective is $1,920, which is the pivot point for the one-day S1. The bears will challenge the bullish commitments at the previous day’s low of $1,916 as they go south.

If selling pressure increases, a new bottom of $1,911 is likely.

Gold bulls, on the other hand, must break through a dense cluster of good resistance levels at $1,932, where the Fibonacci 61.8 percent one-week, Fibonacci 23.6 percent one-month, and SMA200 four-hour meet.

If the latter is accepted, the previous high four-hour and SMA10 one-day at $1,935 will be retested.

The bulls’ next target will be the previous day’s high of $1,939, as they stay set for further gains towards the Fibonacci 38.2 percent one-week at $1,945.

Here is how it looks on the tool

confluence detector

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