Gold Price News and Forecast: XAU/USD challenges key $1795 hurdle on the road to recovery
|Gold bullish bounce at 38.2% fib but uptrend pauzes
This article reviews the potential for Gold to move up. We also analyse the targets in the short-term and long-term.
The XAU/USD uptrend saw price breaking above the round $2,000 level in the 1st half of 2020. But the 2nd half of 2020 has been a lot quieter. Let’s review why.The current pause within the uptrend is turning into a significant pullback, which is typical for a wave 4 (purple) pattern. Read more...
Gold Price Analysis: XAU/USD challenges key $1795 hurdle on the road to recovery
Gold (XAU/USD) is struggling to extend its recovery from seven-month lows in early Europe, as the two-week-old falling trendline resistance at $1795 on the hourly chart tests the bulls’ commitment.
However, the bull cross, with the 21-hourly moving average (HMA) having crossed the 50-HMA from below, favors the further upside. Alternatively, the 100-HMA could now offer immediate support, below which the 21-HMA at $1783 could come to the buyers ‘rescue. Read more...
Gold price analysis: XAU/USD short-term increases but keeps downtrend in the long-term
Gold continues moving around the price of $1780/oz - $1785/oz. This action shows the cautiousness of investors in the economic recovery and the excessive increase of Bitcoin. In the London session and New York session today, the moving will lead gold trendline in the next 3 days.
The DXY - US Dollar Index, moving around 90.3 - 90.5. Similar to Gold, the DXY is in an retesting uptrend after a dropping on 17th February, under the impact of the economic stimulus package of $1,900 billion, that was just approved last week. Read more...
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