XAU/USD Price Meets Headwind Near the $1,800 Resistance

Updated:

Checkmark

Invest at least $250 in D2T to gain lifetime access to our VIP Signals

Checkmark

Get early access to Dash 2 Trade’s Presale. Buy the D2T token now

Checkmark

Existing community of 70,000+ traders

Checkmark

Unlocks access to the leading crypto trading analysis, signals and trading tools

Checkmark

As featured in CryptoNews.com, FXEmpire.com, FXStreet.com and more

Checkmark

World class development team backed by Quant developers and VC investors



XAU/USD has nearly clinched the $1,800 price level but seems to be encountering downward forces. Consequently, this has pulled down a considerable part of the recently gathered profit, yet more may be lost to downward forces in this market.

Important price Levels:
Top Levels: $1,800, $1,830, $1,860
Floor Levels: $1,790, $1,750, $1.720

XAU/USD Price Meets Headwind Near the $1,800 Resistance

XAU/USD Lost Most of the Profit From the Past Two Trading Sessions

Two more sessions have taken place since we last saw profits being made in the XAU/USD market. Consequently, the bears have been in control since then. Yet, even at this point, it is more likely that more losses may be recorded. Price action on the daily chart continues to move closer to the Moving Average line of the Bollinger band indicator. Also, the MACD lines appear a bit mangled near the 22.09 and 21.65 marks. Furthermore, the Stochastic RSI indicator lines have delivered a bearish crossover under the 50 mark. The activities on the RSI and the MACD are both pointing to the fact that this market may witness more downward forces, and the price will fall lower.

XAU/USD Price Meets Headwind Near the $1,800 Resistance

XAU/USD Downward Retracement Is Progressing

On the 4- hour market, the XAU/USD price downward price retracement can be to be progressing. Here the price of candles has crossed below the Moving Average line. Meanwhile, the MACD indicator to has given a bearish crossover above the equilibrium level. Additionally, the lines of this Indicator appear more like it has taken a downward bearing. Furthermore, the Stochastic RSI lines can be perceived as plunging toward the oversold region, precisely at the 38.81 and  19.49 levels. Adding up signs from the Bollinger, Moving Average Convergence Divergence, and the Stochastic RSI indicators, traders can expect XAU/USD price to fall lower towards the $1,770 price level.

Do you want to take your trading to the next level? Join the best platform for that here.

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9
Share with other traders!

Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.