Gold booked a new low level during early Thursday's trading, as the price for gold shortly fluctuated at the 1,769.00 level. In the meantime, it was spotted during the afternoon that the 50-hour simple moving average and the previous support zone at 1,778.60/1,782.70 were providing resistance to the metal's recovery.

A potential resumption of the decline of the metal could decline from one round price level to another. However, note the lower trend line of the channel down pattern near 1,765.00. The trend line might provide support.

On the other hand, a move above the 50-hour simple moving average and the zone at 1,778.60/1,782.70 is highly likely going to result in a test of the resistance of the 100-hour SMA near 1,785.00. Above the 100-hour SMA, the 200-hour SMA near 1,800.00 might act as resistance.


This overview can be used only for informational purposes. Dukascopy SA is not responsible for any losses arising from any investment based on any recommendation, forecast or other information herein contained.

Feed news

Latest Forex Analysis

Latest Forex Analysis

Editors’ Picks

EUR/USD falls below 1.1300 as dollar keeps its strength ahead of Fed

EUR/USD is trading in the negative territory below 1.1300 on Wednesday as markets wait for the FOMC to announce its policy decisions following its two-day meeting. The US Dollar Index holds above 96.00 ahead of the American session, supported by the modest recovery seen in US Treasury bond yields. 


GBP/USD holds above 1.3500 for now on improving sentiment

GBP/USD is posting modest daily gains above 1.3500, supported by the positive shift seen in market sentiment. The UK's FTSE 100 Index is rising more than 1.5% and S&P Futures are up 2.4% ahead of the Fed's policy announcements. 


Gold retreats below $1,840, markets gear up for Fed policy decisions

Gold spent the first part of the day moving sideways in a tight range below $1,850 but came under renewed bearish pressure during the American trading hours. With the dollar holding its ground ahead of Fed's policy announcements, XAU/USD trades below $1,840.

Gold News

XRP presents buying opportunity before breakout to $1

XRP continues to test a new support zone in the $0.60 value area. Bottom likely in for XRP, relief rally, or trend change incoming. The Point and Figure chart shows a bullish entry opportunity.

Read more

Federal Reserve Interest Rate Decision Preview: Inflation, Omicron and equities Premium

Fed expected to reaffirm the March end of bond purchases, rate hike. Balance sheet disposition is of prime interest to markets. Equity declines reflect rising interest rates and economic concerns.

Read more