A firm break above the latter will open doors towards $1,884, where the R3 monthly pivot point aligns.
Alternatively, if sellers manage to find a strong foothold below the confluence of the Fibonacci 23.6%, the daily pivot point and weekly R2 pivot at $1,859, the corrective pullback could gain traction.
The next downside target is seen at the previous hourly low...
In this 10-minute video we aim to explain what's happening in the bond market, and as a result its implications to the USD, to stocks, the USDJPY and gold. Today's US Consumer Price Index (CPI) data due for release on Wednesday at 1230 GMT may be already priced in and prices may not display logical textbook reactions.
Gold is trying to recover. Still in the downward channel, now at a key resistance area as shown in the chart. Also has 50EMA confluence there.
Watch out for the action around this key zone. Can determine the direction based on breakout or breakdown at this key zone.
Great one here straight off the bat great upside potential - ignore indicator below its inaccurate gold will push up
Gold did its thing in 2020, the worse financial year since WWII, and I have to say it was nothing impressive. Investors pilled up in foreign stocks and digital assets, gold resembles more and more a pure commodity than a monetary safe heaven.
Currently is hitting the 200ma, and for me it will keep going down, perhaps to retest lower levels, after that a long...
1) XAUGBP has broken out of what looked to be a descending triangle pattern
2) Price closed above 20/50/100 EMA after thursdays rally and held above this on friday
3) XAUUSD rise will give positive sentiment to gold (correlation)
4) Biden victory
5) GBP weakness seen all of last week
6) Linked to point 5 - Brexit uncertainty / news releases...
I wrote details in chart but I have to say
Because of RSI H4 ; 70 . it need to rest or maybe retracement so be patient and wait for good entry in Lower time Frames and candlesticks Formations
GBP is falling right now . You can find it in A
and market sentiment
i have an idea that XAU is going to touch 2040usd this year again Easily
my strategy is based...
Looking for gold to put in a cycle low around September 7th before a strong move higher.
Will be looking for longs inside the green rectangle early September.
Keep an eye open this is a nice opportunity I think.