Waynewins
- XAU/USD bears lurking at key resistance, eyes on $1,795???
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XAU/USD looks set to test $1,948 as US employment clues loom
Our Technical Confluence indicator signals that the Gold Price remains well beneath the $1,950 and $1,970 trading range that previously restricted the XAU/USD moves as market players brace for the US employment and activity data scheduled for release this week. That said, the previous day’s downside
NFP week...
Gold Price broke a one-month-old rising support line, now immediate resistance near $1,963, and helped bears cheer the first weekly loss in four. However, the 200-SMA joined the oversold conditions of the Relative Strength Index (RSI) line, placed at 14, to trigger the metal’s corrective bounce afte
XAU probable rebound near term??
Thursday’s strong pullback in gold prices was accompanied by declining open interest, which leaves the door open to a near-term rebound. In the meantime, the yellow metal is seen decently supported around the $1940 region per troy ounce for the time being. No matter what, time to enjoy you
XAU/USD bulls cheer $1,965 breakout ahead of US GDP, ECB!
Gold Price (XAU/USD) remains on the front foot for the third consecutive day as bulls cheer a fresh weekly top ahead of some more top-tier data/events, after marking a bullish reaction to the Federal Reserve (Fed) Interest Rate Decision. In doing so, the XAU/USD fails to justify the Fed’s 0.25%
XAU needs some momentum...
Our Technical Confluence indicator suggests the Gold Price inaction around the $1,964 support-turned-resistance comprising the 100-DMA and a convergence of the Fibonacci 61.8% on one-day and one-week. The XAU/USD’s ability to cross the $1,964 hurdle joins the upbeat sentiment and the US Dollar’s ret
Let's be more careful this week! Buyers hope for a dovish Fed!
S&P Global will release the preliminary July PMI surveys on Monday. In case the Composite PMI drops below 50, from 53.2 in June’s final reading, growing recession fears could weigh on US T-bond yields and the USD. Market participants, however, could stay away from taking large positions ahead of
XAU/USD struggles to capitalize on intraday gains, remains below $1,960?
Gold price builds on the overnight bounce from the $1,946-$1,945 area, or a multi-day low and gains some positive traction during the Asian session on Tuesday. The XAU/USD currently trades around the $1,957-$1,958 region, up just over 0.10% for the day, and remains well within the striking dist
Forecast: XAU/USD consolidates in a range, holds steady above $1,950 level
Gold price kicks off the new week on a subdued note and oscillates in a narrow trading band, just above the $1,950 level through the Asian session. The range-bound price action might still be categorized as a bullish consolidation phase and warrants some caution before positioning for any meaningful
XAU scoping for extra gains or lacklustre...
Thursday’s uptick in gold prices was in tandem with a small increase in open interest, which is suggestive that further gains could still be in store in the very near term. Against that, the next resistance level is expected at the June peaks just above the $1980 mark per troy ounce. Howev
XAU scoping for extra gains...
Thursday’s uptick in gold prices was in tandem with a small increase in open interest, which is suggestive that further gains could still be in store in the very near term. Against that, the next resistance level is expected at the June peaks just above the $1980 mark per troy ounce. https
XAU/USD consolidates above the 20-day SMA ahead of US CPI
The daily chart suggests that the buyers have taken the lead over the sellers in the short term after conquering the 20-day SMA. However, the bulls still have some work to do to confirm the positive bias and need to retake the 100-day SMA, currently at $1,950. Meanwhile, the Relative Stren
XAU/USD remains on the defensive amid reviving US Dollar demand...
From a technical perspective, the $1,933-$1,935 region might continue to act as an immediate strong barrier ahead of the 100-day Simple Moving Average (SMA), currently around the $1,948-$1,949 region. A sustained strength beyond the latter might trigger a short-covering rally and lift the Gold price
AU/USD inches back closer to $1,920, lacks bullish conviction
From a technical perspective, the $1,925-$1,926 region is likely to act as an immediate hurdle ahead of the overnight swing high, around the $1,935 area. This is followed by the 100-day Simple Moving Average (SMA), currently around the $1,947 zone. A sustained strength beyond the latter might trigge
XAU/USD hovers $1,900, eyes on data for Fed's hawkish signs...
Gold Price (XAU/USD) lacks clear directions even as bears keep the reins at the lowest levels in three months. That said, the metal’s latest inaction could be linked to the cautious mood ahead of the key US inflation clues, as well as amid mixed economics from China. Additionally, a lack of market p
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