News

Gold New York Price Forecast: XAU/USD holds above $1700.00/oz, bullish

  • XAU/USD starts the new week sidelined just above the 1700.00 mark. 
  • The level to beat for bulls is the 1740 resistance.
 
 
 

XAU/USD four-hour chart

 
XAU/USD consolidates the advance originating from mid-March as the metal trades just above the 1700.00 mark but below the 50/100SMAs on the four-hour chart and above the 200 SMA. XAU/USD bullish bias remains intact with bulls looking for a break above the 1740.00 level on a daily closing basis which could open the doors toward the 1740 and 1780/1800 resistance zone. On the flip side, support is expected to emerge near 1700/1690 price level in the medium-term while further down lies the 1660 level. 
  

Additional key levels

 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.


RELATED CONTENT

Loading ...



Copyright © 2024 FOREXSTREET S.L., All rights reserved.