Forecast for XAUUSD 7 NOV 2022 for Fundamental Analysis and Technical Analysis

Gold : Fundamental Factors

1) China’s recommitment to its zero-COVID policy ramped up concerns over slowing economic growth and boosted the dollar.

2) Federal Reserve signaled it will keep hiking interest rates to curb inflation. Last week’s strong jobs reading gives the central bank
more headroom to raise interest rates.

3) Friday’s oil rally was further fueled by fears of the Kremlin’s reprisal to the G7 plan to cap the selling price of Russian oil in order to limit Moscow’s ability to fund its invasion of Ukraine without throttling global supplies.

Gold : Trend is Bearish

Fundamental Range : 1628.67-1632.17

Gold : Technical Analysis

Resistance area : 1678.30,1680.19,1683.25

Support area : 1667.23,1670.29,1672.18

Pivot point : 1675.24

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

Check for more information on what most indicators will show

Check the higher time frame also for further confirmation for entry in the Daily time frame.

Technical indicators display buy in Daily and strong sell in weekly and monthly time frame, where we can sell entry for higher time frame by following the given resistance area and vice versa

Use linear regression to get the daily confirmation trend as it is not available in

Linear regression shows a downward trend on a daily time frame. You can check the linear regression trend on a weekly and monthly basis for further confirmation. For weekly, it is a downtrend and for monthly, it shows an uptrend.

Use the Bolinger Band Strategy Tester and RSI Strategy Tester to get more confirmation for trends and profit percentages. Check on larger time frames as well such as weekly and monthly.

Make sure both RSI and Bolinger Band Strategy give above 50%. for a profitable percentage.

The RSI strategy tester and the Bolinger Band Strategy tester on a daily basis have a percentage higher than 50%, supporting a downward trend compared to other timeframes such as Weekly and Monthly.

Gold : Look for Sell on the daily chart using the first resistance point, 1678.30 and take profit will be at the pivot point, 1675.24, stop loss at the 2nd resistance, 1680.19 (SEE CURRENT MARKET PRICE)

Look at the current market and find the nearest resistance point for entry and take profit at the pivot point.

Gold : Fundamental and Technical analysis are coordinated.

For more information, contact me, Gurmit at +60142584067, I will guide anyone who wants to register with Weltrade. You can register at the link below. Thank you.

Disclaimer : This analysis is based on and You can follow at your own discretion.

You can join our telegram group at

For traders who want to trade by themselves can join Weltrade, we provide benefits for traders out there, learn to trade and follow free signals such as free paid signal providers, bookmap gold and premium tradingview directly.

Free Book Map Education

Join us on our zoom for online learning from 10.30am to 11.30am by the Financial Markets Research Center (FMRC) team. With Cikgu Hafiz and Cikgu Gurmit


Komen anda

Scroll to Top