Early in the European session, gold (XAU/USD) was trading around 1,968.75 above the 21 SMA within the downtrend channel formed on November 3. The recovery of the dollar index (USDX) made the XAU/USD fall to 1,956 recorded yesterday during the American session. Bearish pressure remains in force and gold could resume its decline if it […]
EUR/USD Higher Timeframes Bears continued the decline yesterday and tested the area of influence of the lower boundary of the daily cloud, but they couldn’t hold onto the achieved levels. Today, the situation remains within the limits, with the boundaries being 1.0733 – 1.0766 (weekly levels) and 1.0638 – 1.0614 (daily levels + weekly short-term […]
Neither Israel’s invasion of Gaza, nor the increase in Chinese oil imports, nor the extension of production and export reduction commitments by Saudi Arabia and Russia have frightened the Brent bears. The quotes of the North Sea grade plummeted to their lowest level since the end of August against the backdrop of decreasing premiums for […]
Blue lines- Fibonacci retracement levels Gold is under pressure for a second day in a row. Price has just slipped below the 23.6% Fibonacci retracement as expected. In previous posts we noted that Gold price is vulnerable to a move lower. The RSI is turning lower from overbought levels. Next downside target is at $1,930 […]
Technical analysis: Gold has been trading downside today and I found that there is important pivot zone around $1.961-$1.954. In case of the potential rejection of the support zone, there is the chance for the upside movement towards $2.000 In case of the downside breakout and hold below support zone, there is the chance for […]
On the daily chart of Gold commodity asset, there is a Bearish 123 pattern which follow by the appearance of the deviation between price movement with Stochastic Oscillator indicators, so that based on these facts, in a few times ahead, Gold has the potential to weaken up to the level 1953.17. If this level successfully […]
Early in the European session, Gold (XAU/USD) is trading around 1,972.76, below the psychological level of 2,000 located at 8/8 Murray and above the 21 SMA located at 1,936. We can see an exhaustion of bullish strength and a technical correction after four consecutive weeks of bullishness. According to the weekly chart, it is observed […]
First outlook : The GBP/USD pair broke resistance which turned to strong support at the level of 1.2107 this week. The level of 1.2107 is expected to act as major support today. From this point, we expect the GBP/USD pair to continue moving in a bullish trend from the support levels of 1.2107 and 1.2140. […]
Blue lines- Fibonacci retracement levels Gold price is trading around $1,982. Price has started the week on a negative note. Over the last few trading sessions price is showing a slowing down of the bullish momentum and signs of a possible short-term top and reversal. So far no reversal has been confirmed. With the RSI […]
EUR/USD Analysis: In the short term, an ascending wave structure is relevant. For the main trend, this is a correction. It has been counting since the end of September and has not been completed yet. The wave extremes form a shifting plane on the chart. The structure appears to be complete, but there are no […]
Breakout mode on the Gold might be in the play… The material has been provided by InstaForex Company – www.instaforex.com Related Posts:Analysis and trading tips for USD/JPY on November 8 November 8, 2023 Analysis of transactions and tips for trading USD/JPYFurther growth became…Trading plan for EUR/USD for November 08, 2023 November 8, 2023 Technical outlook:EUR/USD […]
September has become another significant month for gold purchases by central banks worldwide, according to Krishan Gopaul, senior analyst at the World Gold Council. Data from IMF shows global gold reserves of central banks increased by 78 tons in September. The gross volume of sales amounted to just 1 ton, which was offset by a […]
Technical analysis: Gold has been trading upside this morning but the key resistance at the price of $1.991 is on the test. There is potential for the rejection or the upside continuation. In case of the rejection of the resistance at $1.991, there is the chance for the downside movement towards $1.971 and $1.961 In […]
Let’s take a look at the technical picture of EUR/USD, Gold and SP500 ahead of NFP-Payrolls data release from the USA. The material has been provided by InstaForex Company – www.instaforex.com
Blue lines- Fibonacci retracement levels Yellow line- bearish RSI Divergence Gold price is trading around $1,982. Since October 20th, Gold price is mostly moving sideways. Price made a higher high at $2,008 and a low at $1,962 since the end of October. The 23.6% Fibonacci retracement has not be broken. Price has made no real […]
Potential breakout mode on the Gold… The material has been provided by InstaForex Company – www.instaforex.com
Technical analysis: Gold has been trading upside in last 10 hours and I found rejection of the support at $1.970 in the background but the key resistance at $1.990 is on the test. In case of the rejection of the resistance at $1.990, there is potential for the downside movement towards $1.970 In case of […]
With the appearance of deviation between Gold price movement wit RSI indicator on its 4 hour chart, then in the near future, Gold has the potential to appreciate stronger to the level 2008,92 as the main target and 2047,71 as the second target. But, if on the way to the targets that has been mentioned […]
Early in the European session, gold is trading around 1,986.25, within a downtrend channel formed since October 30, above the 200 EMA, and above the 21SMA. Yesterday, gold reached a low of 1,969. From there, it is bouncing with an upward bias. In view of the fact that gold is above the key level of […]
Yellow line- bearish RSI divergence Blue lines- Fibonacci retracement levels Gold price is trading around $1,983. Short-term trend remains bullish as price continues making higher lows and higher highs. Price is still trading above the key short-term support by the 23.6% Fibonacci retracement. A break below the 23.6% Fibonacci retracement combined with the bearish RSI […]
Gold in 2023 continues to surprise. Despite the strong dollar, soaring to its highest levels since 2016, the yield of 10-year Treasury bonds, and the ongoing capital outflow from gold-oriented ETFs for the fifth consecutive month, it has surged above the psychologically important $2000 per ounce mark. And we can attribute this to de-dollarization and […]
Technical analysis: Gold has been trading downside this morning but I found rejection of the support area at $1.976. In case if the rejection of the support can sustain, I see potential for the further rally towards upside references at $1.991 and $2007 In case of the downside breakout of the support at $1.976, there […]
Crypto Industry News: Robert Kiyosaki advises his followers on X to prepare for the biggest crash in the history of the world. Noting that some financial experts encourage investing in stocks and bonds (in a 60-40 ratio), he stressed that people who follow this advice will suffer “the biggest losses.” A famous author of books […]
If we look at the 4-hour chart of the Silver commodity asset, we can see that the price movement is moving below the Kumo and the Kumo future is in a Bearish condition. Apart from that, there are 2 Bearish patterns that appear in this commodity asset, namely the Bearish 123 Pattern which is followed […]
Early in the American session, gold (XAUUSD) is trading around 1,991 within an uptrend channel formed since October 24 and above the 21 SMA. It is expected to continue rising in the coming as strong bullish momentum is observed. In case gold consolidates above 1,990, it could reach the psychological level of $2,000. Gold prices […]
Red line -support trend line Yellow line- bearish RSI divergence Black lines- triangle pattern Blue lines – Fibonacci retracement levels Gold price continues to trade sideways around $1,995 price level. Price so far continues to respect the red upward sloping support trend line as price is forming a triangle pattern with a base around $1,990 […]
Technical analysis: Gold has been trading sideways at the price of $1.997 and there is potential for the re-test of the high or breakout of the rising trend-line. In case of the rejection of the support at $1.990, there is the potential for the rally towards $2.010 In case of the breakout of the rising […]
According to the World Bank’s commodities review, geopolitical instability, as usual, has influenced the gold market: demand for safe-haven assets can lead to even higher prices, as any potential escalation in the conflict between Israel and Hamas will create further chaos in the Middle East. On Monday, the International Monetary Fund published a forecast for […]
The price of gold retreated a little in the short term but the bias remains bullish. You already know from yesterday’s analysis that XAU/USD could test and retest the immediate support levels before resuming its growth. After its strong rally, a retreat was natural. Fundamentally, the BOJ left its monetary policy unchanged in the October […]
It seemed like the market needed to calm down and catch its breath, but surprisingly, the euro started to become active again, much like the beginning of the past week. Although the macroeconomic calendar is basically empty, and the fundamental background remains generally unchanged. Of course, one could attribute this to mounting Middle East tension, […]
