Forecast for XAUUSD 28 SEPT 2022 for Fundamental Analysis and Technical Analysis

Fundamental Factors

1) Fed Chair Powell Speaks today will affect the market as previously he supported for the 75 bps hike.

2) CB Consumer Confidence is at 108.0 compared to 104.0

3) New home sales are higher at 685000 compare to 500000.

4) Pending Home Sales m/m is expected to be at -0.9 but it has chances to be better than forecasted

Gold : Trend is Bearish

Gold : Fundamental Range : 1600 – 1700

Technical analysis

Check at Daily Timeframe for Fibonacci Support and Resistance.

Check the timing of trade it might be different for resistance and support at that time.

1) Resistance area : 1639.26,1644.26,1652.34
2)Support area : 1623.08, 1618.08,1610.00

Pivot point : 1631.17

Confirm with technical indicators and based on your own technical analysis.

Check to get more info on what most indicator would display

Check higher timeframe also for more confirmation for entry in Daily timeframe.

The technical indicator display strong sell at higher timeframe, where we can entry sell for higher timeframe by following the resistance area given and vice versa

If want to go for the lower timeframe ,can see what the timeframe display to see the confirmation of trend and entry

Seek for sell or buy opportunity to enter for confirmation or based on your own technical analysis understanding.

Use linear regression to get confirmation trend at daily as they are not available in

Linear regression shows a downward trend.

Use Bolinger Band Strategy Tester and RSI Strategy Tester to get more confirmation.

Both strategies show a higher percentage of profit which is higher than 50%

Trend is Bearish

Gold: Find to Sell at the daily chart.

For further information, contact me ,Gurmit at +60142584067,I will guide anyone that would like to register with Weltrade. Can register at the below link. Thank you.

Disclaimer : This analysis is based on and You may follow based on your own discreetion.

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