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Gold cleared the key resistance level of 2050(1) last Friday, triggering a new round of buying and retesting the high @ 2070. However, the price quickly retreated before the market closed. The session ended at 2052, above the key level of 2050 before the holiday weekend. 1-hour chart - After breaking through the level of 2050(1) last week, the upward trend in...

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After the Fed. Meeting last week, gold climbed above 2000, while the market refocused on an early rate cut next year. Powell's dovish comments further tuned the market's sentiments; the latest CME FedWatch tools indicate that there is currently a close to 70% chance of a 1/4 basis point rate cut next March, while there is almost 95% chance of a 1/4 basis point...

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The downward trend is still dominating. Keep an eye out this week for the US CPI and the Fed. Meeting. Gold took advantage of better-than-expected employment data in the US market last Friday, finally escaping the 2020-40(1) zone. The price hit a daily low of 1994 and closed at 2004 before the weekend, experiencing a $24 drop throughout the day. 1-hour chart -...

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Not able to stay above 2080, gold retraced quickly. Yesterday's market opened with a continuation of the upward momentum trend from the previous Friday's closing; it reached a historic new high of 2147 during the relatively weak volume Asian session but then started to decline. During the European session, the momentum officially reversed after gold lost the...

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Witnessing gold's historic new high, expect the trend to continue upward. Gold broke through the key resistance at 2050(1) last Friday during the US session, triggering a round of buying and taking the gold to our target of 2070(2), with a $35 increase throughout the day. Carrying the upward momentum before last Friday's close, the buying continued in the Asian...

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USD/CAD broke out from the uptrend channel (1) early last week, officially ending the upward trend that started in early July. By the end of last week, the USD/CAD closed at 1.3624, clearing the buying from the support level of 1.3650(3). In the coming week, expecting a new round of selling with a temporary target near the 100-day MA(2) around 1.3550. This week,...

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2050 target achieved! Goin to test another new high this week??? After a few rejections, gold finally got past the 2020(1.1) resistance yesterday in the US session, breaking out from the triangle pattern(1) and touching the top of the uptrend channel(2) near 2043. The buying resumes in the Asian session today reached our 2050(3) target. 1hr chart - The...

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Expect the price to touch 2050 again later this week! After the long weekend holiday, gold finally cleared the 2000 resistance early during the Asian session today. The gold price remained relatively calm late last week, hovering near 1990-93; it wasn't until Friday's US session that it surged towards the 2000 level, closing the week at 2002. 1-hour chart -...

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After a long-awaited period, the consolidation of the USD/JPY has finally started following multiple rejections at 152. Since USD/JPY left the S-T uptrend channel(1) the day before yesterday, the selling officially began at the European session yesterday when it dropped below the 149 support level. The targets to the downside are at 100 MA(3) and the bottom of the...

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Gold price is poised to retest the 2000 level. Keep a close eye on today's US Fed minutes. Gold rallied from 1965 at the US session yesterday. The day began with a gap opened below 1980 yesterday. Throughout the Asian & European sessions, the price consolidated toward the day-low until the rebound occurred during the US trading session. The day eventually ended...

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The pattern has restructured on the daily chart after another weaker-than-expected US employment and manufacturing figures. The gold price cleared the selling orders at the 20-day MA and the resistance at 1980, signalling a new round of upward movement. The price rebounded early Asian session surpassing 1960, and traded between 1961-67 before the US session. ...

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A reversal has finally appeared on the daily chart! Gold tested a new weekly high yesterday. But selling began after the US market data was released. In the early trading yesterday, the price of gold continued to rise, carrying the upward momentum from the previous session, until the US market opened. The price reached the day high of 1975.3 at the US session...

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The upward momentum is still picking up! Driven by US inflation data, the gold price reached our target yesterday and continued to rise. During the early Asian/European sessions, the price fluctuated in a tight range between 1943-48 while the whole market was waiting for the release of the US figures. Once the US CPI was released, the gold price quickly touched...

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S-T rebound approaching, target around 1950. Gold made a new weekly low before the weekend, completing the downward cycle mentioned in our previous analysis. The price cleared the S-T resistance(1) on Thursday, triggering a round of buying toward 1965. The decline began by Friday's pre-US session; it had fallen below the 1950 support, and the price dropped...

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Ready for a new weekly low in the next 48 hours! Gold cleared most of the buying orders below 1960 yesterday. The price fluctuated within the range of 1961-69 early in the Asian/European sessions; and selling orders began to come into the market once the U.S. session opened, breaking the support at 1960(1). The day closed at 1949, down by USD 20. 1-hour Chart...

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Gold touched a two-week low yesterday. In the early Asian session, it continued the selling from the previous day and trended downwards, testing the support of 1970. The downtrend continued during the European session, reaching the daily low of 1956. The rebound began in the U.S. session and ended the day of 1969, down by 8 dollars. 1-hour chart - S-T technical...

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Gold didn't show any significant breakthrough in its trend after the two major events last week (FOMC meeting + non-farm). The market will continue to divert its focus away from the geopolitical tension from Israel after a few weeks of its breakout; the situation is pretty much like the Russia/Ukraine conflict as the market getting used to the news. 1-hour chart...

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The price of gold fluctuated within a narrow range yesterday. It opened at 2006, last Friday's closing price. In the early Asian session, it had fallen below 2000, and the rest of the day the price stayed within a tight range between 1990 and 2000 throughout the rest of the day. 1-hour chart - The uptrending momentum has slowed down. The price broke out from the...