FOREXCOM:XAUUSD on Thursday is buying back some of the decline after bouncing off support. The market is under selling pressure and strong ETF selloffs are contributing to the downtrend.
Price is testing strong resistance that was broken on inflation related news. But the fall is being redeemed on the back of lower than expected Initial Jobless Claims, the...
FOREXCOM:XAUUSD is moving into a consolidation phase after a phase of strong sell-offs. The probable reason could be the news that the market is waiting for. What can happen in the market?
The general fundamental background for gold is negative, therefore, it is worth considering further prospects downward. Technically, a descending channel is beginning to...
FOREXCOM:XAUUSD is leaving the range. It happened. Tuesday's news defines the medium-term outlook for the market and, amid selling pressure, the price reaches targets below 2000.
Today we have no news, the fundamental background remains the same - negative for gold. The chart above clearly shows that the price is coming out of the consolidation phase and the...
Finally, our expectations for gold to slide below $2,000 were fulfilled yesterday when the shiny metal sold off following the release of higher-than-expected inflation data in the United States. Given the hell breaking lose (yesterday) in the stock market, we remain concerned about gold’s performance in the short and medium term (while being bullish in the long...
FOREXCOM:XAUUSD , amid the decline we were waiting for, reaches the target of 2015 and forms a false breakout. But the only thing that is constant is the range. What should we expect from the price at this point?
Pic: False break of trend line support
The dollar stops again and goes into consolidation before another series of news. Today the market is...
Gold (XAUUSD) has dropped again below the 1D MA50 (blue trend-line) and contrary to our last short-term signal (February 07, see chart below), we look today on a longer term monthly basis on the 1D time-frame:
As long as the price stays below the 1D MA50, it is very likely to see the current rejection transition into a Bearish Leg for the whole month of...
FOREXCOM:XAUUSD has been testing the local resistance area since the opening of the session and forming a false breakout with subsequent decline, but at the same time a symmetrical triangle is forming on the chart.
Idea: GOLD → When will the price come out of consolidation?
On D1 the market is still neutral, there is no strong news that would affect the...
Gold is about to cross from a neutral technical 1D outlook (RSI = 45.543, MACD = -1.200, ADX = 26.629) to a bearish one as it got rejected on the 1D MA50, under which it will close for the third straight 1D candle. The 1D RSI suggests that this is a very slow medium term decline, as is evident by the 6 week Channel Down, that in the near term it will find a...
OANDA:XAUUSD closed the trading session with a bearish candlestick on Friday. The asset loses 0.8% for the week, but at the same time it continues to stay inside the range between the strong boundaries of 2067 and 2010.
Pic: Uptrend in the market. Price is testing trend support
The dollar continues to strengthen, testing support as part of the correction...
OANDA:XAUUSD on the background of news on Thursday is declining, but does not reach the local minimum. On the background of the pullback the price also does not reach the local maximum. The range boundaries are narrowing.
The fundamental background for gold still remains and is relatively negative at the moment. On the chart above we can observe a difficult...
OANDA:XAUUSD closes Wednesday's session with a minimal range of motion. The market is getting tighter and tighter every day, volatility as well as volumes are decreasing. The calm before the storm.
Today, at 13:30 Initial Jobless Claims are published, at this time the dollar in the correction phase is testing the consolidation area and in all likelihood may...
The overall sentiment for gold prices in February is bullish. While the medium-term trend is sideways, the year of the Wood Dragon and technical indicators suggest potential for upward movement.
Year of the Wood Dragon: According to Chinese tradition, the year of the Wood Dragon is considered an auspicious time to save in gold. This could potentially drive up...
FOREXCOM:XAUUSD has simply been standing still for months now. At least on D1 the range is narrowing and this could lead to something in the medium term.
The dollar is forming a correction after a false breakdown. Fundamentally, the index is strong and continues to be supported by US regulators. At 19:00 GMT Bowman FOMC speaks, it is worth paying attention to...
Gold (XAUUSD) is technically neutral on the 4H time-frame, ranged within the 4H MA50 (blue trend-line) and 4H MA200 (orange trend-line). The 4H RSI is on a pattern which usually denotes a short-term peak, similar to January 19 and 12. We will apply a break-out trading plan.
As long as the price remains within a Channel Down similar to that of Jan 19 - 25, we will...
FOREXCOM:XAUUSD under the influence of negative fundamental background is testing the support, from which it is forming the rebound we were waiting for. At this time the dollar is strongly strengthening and overcoming local boundaries.
On D1 the price of gold is testing the ascending support, a small rebound and a possible retest of the support may be a...
Gold prices fell on Monday, pressured by rising US Treasury yields and a stronger US dollar, following a series of solid US economic data, including January nonfarm payrolls and ISM Services PMI. Comments from Federal Reserve policymakers that an interest rate cut in March was unlikely also contributed to the decline in bullion prices.
From a technical...
FOREXCOM:XAUUSD has been losing ground since the opening of the session on the negative fundamental background, which has persisted since last week. The price continues trading inside the range.
On the high timeframe the price is declining towards the ascending support line, most likely this area will be tested in the near future. But, as this support plays a...
FOREXCOM:XAUUSD was ready to overcome the resistance of the 2062 range, but Friday's NFP, with sharply unexpected data of 353K ruined the temporary plans of buyers. The dollar is building strong momentum and continues its strengthening trend.
pic: Long-term bullish trend. The price is trading at its maximum values
On the 2-week timeframe we see a strong...
