After old hit and rejected 1900 it pulled back to retest 1870 and has been trading inside of a 150 pip range for the past 2 sessions. We are still trading inside of the mid term bullish structure and should price break with today and yesterday’s highs a retest of the 1900-1905 zone would be […]
Gold (XAU/USD) continued its sideways journey in the early European session on Wednesday, as the commodity is locked in a battle with the $1880 price point. The yellow metal could not capitalize on last week’s goodish bounce to the $1900 psychological figure amid the flourishing upbeat market risk mood. The global sentiment got more bolstering […]
Gold (XAU/USD) has renewed its daily lows in the early European session, although it lacked any follow-through strength. The precious metal is currently trading around $1885 after reaching a daily low of $1877 a few hours ago. The downward pressure on the US dollar (DXY) increased on the first day of the week, following President […]
Gold (XAU/USD) began 2020 a few dollars above $1,500 and rose to $1,700 by the end of February. The selling pressure surrounding the US dollar (DXY) was responsible for this rally. The dovish stance in the US Fed monetary policy in the second half of 2019 caused the greenback to slide against other financial assets. […]
Gold (XAU/USD) has regained stability in the mid-European session, following a sharp dip to a three-day low earlier today. The drop came just a few hours after the precious metal recorded a fresh 41-day high around $1907. The decline was majorly sponsored by the strong pickup in US dollar (DXY) demand, which tends to undermine […]
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Gold (XAU/USD) capitalized on its intraday goodish climb and has now reached a new seven-day high of around $1865 in the early European session on Wednesday. The bullish move was sponsored by the persistent selling around the US dollar (DXY), which tends to bolster the dollar-denominated commodity. The greenback remained near a 30-month low as […]
Gold has broken with an immediate bullish structure printing a head and shoulders pattern in the process. This is interesting because the head of the pattern picked right at the retest of the mid-term bearish structure and the critical level 1876. Now that we have confirmation of a possible bearish continuation in Gold and more […]
Gold (XAU/USD) inched lower in the early European session on Monday and has recorded a fresh daily low of around $1825. The renewed selling pressure got sponsored by the prevailing upbeat market mood as a result of the blooming optimism over the rollout of COVID-19 vaccines by Pfizer (NYSE: PFE). Investors’ risk mood got further […]
